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Sean Anthonisz


Rm 416
H69 - Codrington Building
The University of Sydney
NSW 2006 Australia

Telephone +61 2 8627 5432


Sean Anthonisz has published research in Management Science and the Journal of Banking and Finance. His research interests include asset pricing, liquidity risk, mutual fund performance, capital structure and alternative finance.

Before becoming an academic, Dr Anthonisz worked for 14 years in the investment banking and hedge fund industries in Sydney, London and Seattle. He is an executive committee member of the Chartered Alternative Investments Analyst Association (CAIA) Australia.

Sean has taught courses in investment banking, investments, corporate finance and derivatives.

Research Interests

Sean's research interests center on asset pricing, mutual funds and corporate finance and he is particularly interested in investor preferences. Sean's published papers investigate the effects of downside market and downside liquidity risks on the cross-section of stock returns.

The aims of Sean's current research projects include: explaining the cross-section active mutual fund fees; understanding the role regret aversion might play in portfolio formation; the relation between prices and liquidity within corporate bond markets; and explaining the capital structure choices for smaller enterprises.  He works closely with academics from three other Australian Universities.


Journal Article/s

Anthonisz S and Putniņš TJ 2017 'Asset Pricing with Downside Liquidity Risks', Management Science, vol.63:8, pp. 2549-72 [Link]



Zhang B, Deer L, Wardrop R, Grant A, Garvey K, Thorp S, Ziegler T, Ying K, Xinwei Z, Huang E, Burton J, Chen H, Lui A, Gray Y, Akhtar S and Anthonisz S 2016 'Harnessing Potential: The Asia-Pacific Alternative Finance Benchmarking Report (March 2016)', KPMG [Link]


Journal Article/s

Anthonisz S 2012 'Asset pricing with partial-moments', Journal of Banking & Finance, vol.36:7, pp. 2122–35 [Link]

Selected grants


Recent Units Taught

  • BUSS4402 Finance Honours A

    2017: S1,

  • FINC6001 Intermediate Corporate Finance

    2016: S2,

  • FINC6010 Derivative Securities

    2016: S2,