Dr Paul Cox

Dr Paul Cox

The Department of Accounting
Senior Lecturer of Finance

Contact details


PhD Finance (Exeter)
PDip Business Finance (Brunel)
BA (Hons) Economics (Liverpool)


Dr Paul Cox is Senior Lecturer of Finance at Birmingham Business School, University of Birmingham and an Investment adviser at The National Employment Savings Trust (NEST).  Since 2007 he has provided pension and investment expertise to the Department for Work and Pensions, the Personal Accounts Delivery Authority, the Department for Business, Innovation and Skills, and the Ministry of Justice. Paul has been involved in drafting several government consultations and industry white papers on pensions and investments. Prior to academia Paul worked at Kleinwort Benson Investment Management and RCM Global Investors from 1993-2000 as an equity fund manager. 

Paul has served a variety of external appointments including a trustee on an investment education board, external examiner for universities, a policy commissioner on Wealth, editorial panel member of practitioner and academic journals, and chief examiner for regulatory and wealth management exams at the Chartered Institute for Securities & Investment. Paul serves as an academic member on the Occupational Pension Fund Stakeholder Group of the European Insurance and Occupational Pension Fund Authority (EIOPA), a member of The Personal Finance Education Group, the Centre on Household Assets and Savings Management, and has a PhD in finance.

Postgraduate supervision

I welcome applications based on strong research proposals from prospective doctoral researchers in areas that follow my research interests, as well on communicating investment.


Accounting and Finance

Centre on Household Assets and Savings Management

My research interests are broadly focused around institutional investment – in particular pensions, saving and retirement; around corporate governance – in particular voting, stock lending and communication; around financial literacy and capability; and around portfolio investment and risk.

Other activities

Occupational Pension Fund Stakeholder Group of the European Insurance and Occupational Pension Fund Authority (EIOPA)

Trustee Investment Adviser, The National Employment Savings Trust

Chief Examiner, Chartered Institute for Securities & Investment


Working Papers

Cox, P. Defined Benefit and Defined Contribution Pensions: Pension Accounting Changes and Differences in Their Demand for Shares.

Paul Cox and FTSE International “Stock Volatility and Environment, Social and Governance Factors: A Diversified Investor Perspective”.

Paul Cox and Diandra Soobiah, A study on conduct and culture in UK listed banks.

Paul Cox and Diandra Soobiah, Audit tenure and rotation at UK FTSE 350 companies.  An audit committee chair and investor perspective.

Recent Industry Publications

Paul Cox (2015) ‘Helping consumers and providers manage defined contribution (DC) wealth in retirement’. Private report for Sanlam and wealth Management Association.

Paul Cox, John Pollock, and Richard Cropper (2016).  Ministry of Justice research paper, The discount Rate.

Paul Cox and London Economics (2014). Department for Business, Innovation & Skills research paper 190, 27 October 2014, Metrics and models used to assess company and investment performance. 

Wealth Management Association (2016) White Paper Pension Freedoms 6 months on: Observations and Insights 

Refereed Journals

Cox, P, 2011. Risk sharing in defined contribution pension schemes, Journal of Risk, Editorial, Special Issue, spring.

Cox, P, & Schneider, M, 2010. Is US socially responsibleinvesting global or local in perspective? A study of US pension planinvestment in the UK. Business & Society, 49(2) pp252 - 289. Also Best Paper Award, 2006 Academy of Management conference.

Cox, P, Brammer, S, & Millington, A, 2008. Pension funds and corporate social performance: An empirical analysis. Business & Society, 47(2) pp213 - 241.

Cox, P, 2008. The role of trust and risk in predicting individuals’ savings allocation behaviour; Journal of Financial Decision Making, 4(1) pp17-32.

Cox, P, Brammer, S, & Millington, A, 2007. Pension fund managertournaments and attitudes towards corporate characteristics. Journal ofBusiness Finance & Accounting, 34 (7-8), pp1307-1326.

Abraham, S, & Cox, P, 2007. Analysing the Determinants of Narrative Risk Information in UK FTSE 100 Annual Reports. British Accounting Review, 39(3) pp227-248.

Cox, P, 2007. Should a Financial Service Provider Care about Trust?An Empirical Study of Retail Saving and Investment Allocations. Journal of Marketing and Financial Services, 12(1) pp75–87.

Freeman, M, Cox, P, & Wright, B, 2006. Credit risk management: The use of credit derivatives by non-financial corporations, Managerial Finance, 32(9) pp761-773.

Cox, P, Brammer, S, & Millington, A, 2004. An empirical examination of institutional investor preferences for corporate social performance. Journal of Business Ethics, 52(1), pp27-43.