Professor Patricia Chelley-Steeley

Professor Patricia Chelley-Steeley

The Department of Finance
Professor of Finance

Contact details

Address
University of Birmingham
Edgbaston
Birmingham
B15 2TT
UK

Patricia is Professor of Finance in the Finance Department and is a specialist in  financial markets. Her  research interests are in the area of market microstructure, experimental finance and international financial markets. Patricia has published over forty peer reviewed papers in finance journals which include globally recognised journals such as Journal of Financial Research, Journal of Banking and Finance, Journal of International Money and Finance, Journal of Empirical Finance, Journal of International Financial Markets Institutions and Money, International Review of Financial Analysis, Journal of Financial and Quantitative Analysis (JFQA). 

Qualifications

  • PhD in Finance Loughborough University; Small Firm Effects in the UK Stock Market
  • MA in Economics Manchester University
  • BA in Economics, University of Wales, Swansea  

Biography

Patricia joined the Birmingham Business School in 2014 having previously been Professor of Finance at Aston Business School,  Birmingham.  Patricia has previously held posts at Stirling University, Cardiff Business School, Queen Mary University and University of Manchester Institute of Science and Technology gaining wide experience in the teaching of finance and financial economics at both undergraduate and postgraduate level. Recent completing PhD students are based at Glasgow University, London Executive Business School and Hankuk University Seoul while others work in the financial services industry. 

Her research interests are primarily in the area of market microstructure. Recent research has examined why trading activity increases when markets cross list securities on foreign markets, how changes in the trading mechanism at the London Stock Exchange have influenced trading costs, efficiency and liquidity. A recent collaborative project with Cyprus University of Technology examines the influence of order flow shocks on stock market co-movement. Collaborative research with University of Central Florida has examined the ability of auction and prediction markets to successfully aggregate information. Research with University of Cincinnati is examining how behavioural biases influence dynamic trading profits within the setting of an auction market.

Patricia has held a wide range of external roles and is currently Chief Examiner for Globalisation of Financial Markets at the IFS school of finance which provides a wide range of professional finance examinations. Patricia is also an Associate Editor of Journal of Banking and Finance, Journal of Commerce and Management and International Journal of Behavioural Finance. Patricia has held grants from Inquire-UK,  Leverhulme Trust, and Virgin-Direct and  for three years acted as a post-doctoral grant reviewer for ESRC and a member of the academic board for IFS School of Finance. Patricia recently featured in a documentary on active investing produced by investingtv.com and is a former INQUIRE prize winner for best finance paper.

Teaching

  • MSc Advanced Financial Mangement
  • MSc Security Analysis and Valuation

Research

MARKET MICROSTRUCTURE

Equity market trading architecture, thin trading, order flow imbalance, illiquidity and investor behaviour.

EXPERIMENTAL ASSET MARKETS

Why firms cross list, investor behaviour, hindsight bias. 

Other activities

Patricia has held a wide range of external roles and is currently Chief Examiner for Globalisation of Financial Markets at the IFS school of finance which provides a wide range of professional finance examinations. Patricia is also an Associate Editor of Journal of Banking and Finance, Journal of Commerce and Management and International Journal of Behavioural Finance.

Publications

Recent publications

Chelley-Steeley, P.L. (2017), (with N.Lambertides, C. Savvas,), Sentiment, Order Imbalance and Co-movement. An Examination of Shocks to Retail and Institutional Trading Activity. European Financial Management.Vol 23 Issue 4 1-44. 1.313.

Chelley-Steeley, P.L. (2016),  Cost of Capital Changes, the Quality of Trading Information and Market Architecture. (with N. Lambertides), British Accounting Review 48 issue 4 401-414 3* ABS list 3*.

Chelley-Steeley, P.L. (2016), Trading Patterns and Market Integration In Overlapping Experimental Asset     Markets,   with P. Adams, B. Kluger and J.M. Steeley), Journal of Financial and Quantitative Analysis (JFQA).  50 1473-1499.  4* ABS list, Impact Factor 1.887.

Chelley-Steeley, P.L. (2016), (with N. Lambertides and J.M. Steeley, Explaining Turn of the Year Order Flow Imbalance. International Review of Financial Analysis 43 76-95.. 3*ABS list Impact Factor, 0.881

Chelley-Steeley, P.L. (2015), (with N.Lambertides, C. Savvas,) . The Effect of Security and Market Order Flow Shocks on Co-movement. Journal of International Financial Markets Institutions and Money. 39 136-155 3* ABS list. Impact Factor 1.237.

Chelley-Steeley, P.L.,Earnings and Hindsight Bias (2015) ; An Experimental Study.(with B. Kluger and J.M. Steeley) Economics Letters, 134 130-132. 3*ABS list Impact Factor 0.677.

Chelley-Steeley, P.L. (2015), (with P. Lambertides and J.M. Steeley), The Effects of Non-Trading on the Illiquidity Ratio,  Journal of Empirical Finance. 34 204-228. 3* ABS list, Impact Factor 0.937. 

Chelley-Steeley, P.L. (2015). The Role of Pre-existing Liquidity in Determining Price Efficiency and Liquidity Gains Following the Introduction of SETSmm, European Financial Management 21 360-376.  3* ABS list, Impact Factor 1.313

Chelley-Steeley, P.L. (2014),(with J.M. Steeley), Portfolio Size, Non-Trading and Portfolio Return, Autocorrelation. Journal of International Financial Markets Institutions and Money, 33 56-77. ABS 3* 1.237.