Personal profile

Research interests

I am a Professor of Finance in the School of Management at the University of Bath. My research focuses on annuity markets; pension economics; fund manager performance and directors’ trading; and previously has worked in the areas of market microstructure, the new issue market and stock market volatility. I have been published in leading finance and economics journals, and teach across all areas of finance including asset pricing, corporate finance, market efficiency and performance measurement. From 2012-2013 I was head of the Accounting and Finance Group at University of Bath; I have previously held positions at the University of Exeter (Inaugural Director of Xfi Centre for Finance and Investment, and head of Finance group, 2003-2008); University of Bristol (Departmental Director of Graduate Studies, 1997-2001; Head of Acc & Fin Group 2001-2003), and the London School of Economics; and have held visiting positions at: Imperial College Business School; Bank of England (Senior Houblon-Norman Fellow); Financial Services Authority (ESRC Business Fellowship); University of British Columbia, Canada; Solvay Business School, Brussels; City University Business School; Ecole Nationale Des Ponts et Chaussees, Paris; and LSE Summer Schools at Moscow and St Petersburg. I am an associate member of the Financial Markets Group, Centre for Market and Public Organisation, Pensions Institute and Netspar. I am a member of the ESRC’s Grant Advisory Panels; and was a member of sub-panel 19 Business and Management, for REF2014. I have acted as an expert witness in a legal case on financial regulation; has been a consultant to a number of commercial and regulatory organisations including the London Stock Exchange, the Competition Commission, and the Financial Services Authority; and have advised the Department of Work and Pensions, the Bank of England, and the House of Commons Select Committee on issues in pensions.

Willing to supervise PhD

I am interested in supervising PhD students in the areas of pensions and corporate governance.

Education / Academic qualification

Bachelor of Arts, De Montfort University

Master of Arts, University of Warwick

Doctor of Philosophy, University of Warwick

Fingerprint Fingerprint is based on mining the text of the person's scientific documents to create an index of weighted terms, which defines the key subjects of each individual researcher.

Annuities Business & Economics
Pensions Business & Economics
Managers Business & Economics
Equity Business & Economics
Stock market Business & Economics
Cohort Business & Economics
Global financial crisis Business & Economics
Replacement Business & Economics

Network Recent external collaboration on country level. Dive into details by clicking on the dots.

Research Output 1983 2017

Institutional Investors and the QE Portfolio Balance Channel

Joyce, M. A. S., Liu, Z. & Tonks, I. Sep 2017 In : Journal of Money, Credit and Banking. 49, 6, p. 1225-1246 21 p.

Research output: Contribution to journalArticle

Global financial crisis
Monetary policy

New evidence on mutual fund performance: a comparison of alternative bootstrap methods

Blake, D., Caulfield, T., Ioannidis, C. & Tonks, I. 1 Jun 2017 In : Journal of Financial and Quantitative Analysis. 52, 3, p. 1-21

Research output: Contribution to journalArticle

Confidence interval
1 Citations

Cohort mortality risk or adverse selection in annuity markets

Cannon, E. & Tonks, I. 1 Sep 2016 In : Journal of Public Economics. 141, p. 68-81

Research output: Contribution to journalArticle


The effect of the reforms to compulsion on annuity demand

Cannon, E., Tonks, I. & Yuille, R. 1 Aug 2016 In : National Institute Economic Review. 237, 1, p. R47-R54

Research output: Contribution to journalArticle


Decentralization in Pension Fund Management

Blake, D., Rossi, A., Timmermann, A., Tonks, I. & Wermers, R. 14 Aug 2015 In : Journal of Investment Management. 13, 3

Research output: Contribution to journalArticle

Risk taking