Vinay Patel joined UTS in 2011. Currently he is a Lecturer of undergraduate Finance courses.
Chancellor's List 2016
Australasian Banking and Finance SIRCA Best Paper Award and Prize 2015
Behavioural Finance and Capital Markets Best Paper Award and Prize 2014
University of Technology Sydney Chancellor’s Research Scholarship 2012 – 2015
University of Technology Sydney First Class Honours in Finance and University Medal 2011
Undergraduate Business Prize for Excellence in Teaching (101-200): Spring 2014, Autumn 2016, Spring 2016, Spring 2018
Undergraduate Business Prize for Excellence in Teaching (30): Spring 2014
Excellence in Undergraduate Teaching (30, 101-200, 201): Autumn 2014, Spring 2014, Spring 2015, Autumn 2016 (2x), Spring 2016, Spring 2017, Spring 2018
Can supervise: YES
Microstructure, Corporate Finance, Derivatives
25300 Fundamentals of Business Finance
25620 Derivative Securities
Aman, H, Beekes, W, Berkman, H, Bohmann, M, Bradbury, M, Chapple, E, Chang, M, Clout, V, Faff, R, Han, J, Hillier, D, Hodgson, A, Howieson, B, Jona, J, Linnenluecke, M, Loncan, T, McCredie, B, Michayluk, D, Mroczkowski, N, Pan, Z, Patel, V, Podolski, E, Soderstrom, N, Smith, T, Tanewski, G, Walsh, K, Wee, M & Wright, S 2019, 'Responsible science: Celebrating the 50-year legacy of using a registration-based framework', Pacific-Basin Finance Journal, vol. 56, pp. 129-150.View/Download from: Publisher's site
Bohmann, M, Michayluk, D, Patel, V & Walsh, K 2019, 'Liquidity and earnings in event studies: Does data granularity matter?', Pacific-Basin Finance Journal, vol. 54, pp. 118-131.View/Download from: Publisher's site
Michayluk, DM & Patel, V 2016, 'Return predictability following different drivers of large price changes', International Review of Financial Analysis, vol. 45, pp. 202-214.View/Download from: Publisher's site
This study uniquely examines return predictability following different drivers of large price changes. We use several novel features of the Australian information generation environment to overcome identification issues of large price changes inherent in earlier studies. In contrast to prior results, we find that large price changes are permanent when they are driven by public information consistent with the semi-strong efficient markets hypothesis and also when driven by private information. For large price changes which do not correspond with information, we show that investors could profit from the subsequent over-reaction in returns.
Using several microstructure variables, this study provides an intra-day examination of aggressive
trading around Australian takeover announcements. We conduct this analysis for both target
and bidding firms. We examine aggressive trading (i.e. by those who initiate the trade) using the
abnormal behaviour of returns, trading volume, volatility and time-weighted spreads and depth.
In addition, we develop a novel profit/loss measure (PLM) based on trade initiation and provide
new evidence using the recently developed volume-synchronised probability of informed trading
(VPIN) metric. In a univariate setting, these measures provide evidence of increased aggressive
trading in Australian target firms. Further, after controlling for several microstructure variables,
multivariate analysis reveals the presence of abnormally elevated time-weighted spreads prior to
the announcement date for target firms. We show that VPIN is significantly elevated for target
firms, especially in the four days prior to the takeover announcement.
Patel, V, Michayluk, D, Walsh, K & Bohmann, M 2018, 'Liquidity and earnings in event studies: Does data granularity matter?', Accounting & Finance Association of Australia and New Zealand Special Interest Group Conference, Auckland.
Patel, VG & Michayluk, D 2015, 'Disentangling the different sources of value creation for US divestitures.', Securities Industry Research Centre of Asia-Pacific (SIRCA) Young Researcher Workshop, Sydney, Australia.
Patel, V, 'Wall street might not be ready for a war on high-frequency trading', The Conversation.