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Andrew Ainsworth

Andrew Ainsworth

BEc(Hons) UWA; MFin UNSW; PhD UNSW
Lecturer

Rm 412
H69 - Economics and Business Building
The University of Sydney
NSW 2006 Australia

Telephone +61 2 9036 7992
Fax +61 2 9351 6461
andrew.ainsworth@sydney.edu.au

Bio

Andrew commenced as a Lecturer at the University of Sydney in 2009. He received his PhD in Finance from the University of New South Wales in 2010 and holds a Bachelor of Economics (Hons 1) from the University of Western Australia. Prior to undertaking his PhD, he was an analyst at the Reserve Bank of Australia. The title of his PhD thesis was Institutional Investors: An Analysis of Investment Style, Dividends and Trading Behaviour. A chapter of his PhD thesis was awarded the Chartered Financial Analysts Best Paper Prize in Investments at the Asian Finance Association Conference in 2009. His current research interests include the performance and behaviour of investment funds, the valuation of dividends and the role of liquidity in capital markets.

Publications

2014

4
Journal Article/s

Ainsworth A and Lee AD 2014 'Waiting costs and limit order book liquidity: Evidence from the ex-dividend deadline in Australia', Journal of Financial Markets, vol.30, pp. 101-28 Link

5
Conference Paper/s

Ainsworth A and Lee A 2014 Forthcoming 'The Influence of Individual Investors on Ex-Dividend Returns', 2014 Financial Management Association Annual Meeting, Nashville, United States, 18th October 2014

6
Conference Proceeding/s

Lai E, Ainsworth A, McKenzie M and Partington G 2014 'The Value of Dividends: Evidence from Short-Sales', Proceedings of the European Financial Management Association 2014 Annual Meetings, Rome, Italy, 28th June 2014

2013

5
Conference Paper/s

Ainsworth A and Lee A 2013 'The Influence of Individual Investors on Ex-Dividend Day Returns', 26th Australasian Finance and Banking Conference AFBC 2013, Sydney, Australia, 19th December 2013

Ainsworth A and Lee A 2013 'The Influence of Individual Investors on Ex-Dividend Day Returns', 3rd Auckland Finance Meeting, Auckland University of Technology, New Zealand, 17th December 2013

Ainsworth A and Lee A 2013 'The Influence of Individual Investors on Ex-Dividend Day Returns', Personal Finance and Investment Symposium, Brisbane, Australia, 31st October 2013

Ainsworth A, Corbett A and Pattenden K 2013 'The Appropriateness of Equity Funds' Self-designated Benchmarks', Financial Management Association Asia Conference 2013, Shanghai, China, 19th April 2013

2012

4
Journal Article/s

Ainsworth A and Svec J 2012 'The Role of Equity Analysts in the Pricing of Australian CDS Spreads During the Financial Crisis', JASSA:4, pp. 19-23

5
Conference Paper/s

Ainsworth A, Lee A and Walter T 2012 'Can Firm-Specific Dividend Drop-Off Ratios be Used to Infer Shareholder Marginal Tax Rates?', Behavioural Finance and Capital Markets Conference 2012, Adelaide, Australia, 18th July 2012

2011

2
Book Section/s

Ainsworth A 2011 'Passive Portfolio Management and Fixed-Income Investing' in Asset Management: Tools and Strategies, Bloomsbury Information Ltd, London, United Kingdom, pp. 19-24

5
Conference Paper/s

Ainsworth A and Lee A 2011 'Ex-dividend day bid-ask spread effects in a limit order book market setting', European Financial Management Association Annual Meeting EFMA 2011, Braga, Portugal, 25th June 2011

Ainsworth A and Lee A 2011 'Why does the Bid-Ask Spread Widen on Ex-Dividend Days in Australia?', Financial Management Association FMA Asian Conference 2011, Queenstown, New Zealand, 8th April 2011

2010

5
Conference Paper/s

Ainsworth A, Fong K, Gallagher DR and Partington G 2010 'Taxes, Price Pressure and Order Imbalance around the Ex-Dividend Day', Financial Management Association FMA Asian Conference 2010, Singapore, 16th July 2010

6
Conference Proceeding/s

Ainsworth A and Lee A 2010 'Why Does The Bid-ask Spread Widen On Ex-dividend Days In Australia?', Accounting and Finance Association of Australia and New Zealand AFAANZ Conference 2010, Christchurch, New Zealand, 6th July 2010

2009

5
Conference Paper/s

Ainsworth A, Fong K, Gallagher DR and Partington G 2009 'Institutional Trading Around the Ex-Dividend Day - Winner of the Chartered Financial Analysts best paper prize (Asian Investments)', Asian Finance Association Conference 2009, Brisbane, Australia, 3rd July 2009

Ainsworth A, Fong K, Gallagher DR and Partington G 2009 'Institutional Trading Around the Ex-Dividend Day', Financial Management Association European Conference 2009, Turin, Italy, 5th June 2009

2008

4
Journal Article/s

Ainsworth A, Fong K and Gallagher DR 2008 'Style Drift and Portfolio Management for Active Australian Equity Funds', Australian Journal of Management, Special Issue on Delegated Portfolio Management, vol.32:3, pp. 387-418

5
Conference Paper/s

Ainsworth A, Fong K, Gallagher DR and Partington G 2008 'Institutional Trading Around the Ex-Dividend Day', 21st Australasian Finance and Banking Conference, Sydney , Australia, 18th December 2008

Ainsworth A, Fong K, Gallagher DR and Partington G 2008 'Institutional Trading Around the Ex-Dividend Day', 2008 PhD Conference in Economics and Business, Australian National University, Canberra, Australia, 21st November 2008

Ainsworth A, Fong K, Gallagher DR and Partington G 2008 'Institutional Trading Around the Ex-Dividend Day', 13th FINSIA – Melbourne Centre for Financial Studies Banking and Finance Conference, Melbourne, Australia, 29th September 2008

2007

4
Journal Article/s

Ainsworth A, Gallagher DR and Gardner P 2007 'Performance Evaluation and the Potential Biases in Fund Manager Return Databases', JASSA:2 Winter, pp. 21-27

Research Expertise

  • Funds Management (equity and fixed income)
  • Dividends and Imputation
  • Investor trading
  • Liquidity and capital markets

Recent Units Taught

  • FINC3017 Investments and Portfolio Management

    2014: Semester 1, Semester 2, 2013: Semester 2, 2012: Semester 1, Semester 2,

  • FINC3017 Investments and Portfolio Management

    2014: Semester 1, Semester 2, 2013: Semester 2, 2012: Semester 1, Semester 2,