Isaac Thomas Tabner

Isaac Thomas Tabner
University of Stirling · Accounting and Finance Division

PhD, MSc, CFA, ASIP, DipPFs.

About

27
Publications
11,065
Reads
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135
Citations
Citations since 2016
4 Research Items
99 Citations
2016201720182019202020212022051015
2016201720182019202020212022051015
2016201720182019202020212022051015
2016201720182019202020212022051015
Introduction
I am currently working on household finance projects examining tenure choice, financial engagement and lifestyle. I also continue to explore the link between corporate finance and corporate governance.
Additional affiliations
September 2003 - present
University of Stirling Management School
Position
  • Lecturer in Finance
September 2003 - present
University of Stirling
Position
  • Lecturer
Description
  • I have taught corporate finance, portfolio management, personal financial planning, financial statement analysis and firm valuation.
September 2003 - September 2015
University of Stirling
Position
  • Lecturer in Finance
Education
September 1999 - September 2003
University of Stirling
Field of study
  • Finance

Publications

Publications (27)
Article
The tenure decision upon whether to buy or to rent accommodation has long-term consequences for households’ financial wellbeing that influence macroeconomic development and stability when the cumulative effects of individual decisions are aggregated across populations. The author explains how the net present value (NPV) of ownership versus renting...
Article
Using quarterly data from 1960 (United Kingdom), 1963 (United States), and 1977 (Japan) through the second quarter (Q2) of 2010 (all three markets), the authors examined long-run mean-reverting relationships between house prices and inflation, disposable income, GDP, and rents. At the end of Q2 2010, U.S. prices were below their mean-reverting leve...
Article
Full-text available
We investigate the separate and joint influences of social engagement measures on stock market participation and find that socially engaged individuals are more likely to participate. Consistent with Granovetter’s theory of social networks we find that a weak tie (measured by social group involvement) has a positive effect on stock market participa...
Article
Firms that change their listing from the less regulated AIM to the more regulated main section of the London Stock Exchange exhibit positive abnormal returns on the announcement day. For firms moving in the opposite direction, both announcement and implementation day abnormal returns are negative. Following implementation, the pattern is reversed f...
Article
A simple method for decomposing the variance covariance matrix of portfolio returns at the level of individual stocks is applied to the FTSE 100 Index. During extreme negative shocks, the largest index constituents exhibit lower than average covariance, thereby reducing the volatility of the capitalisation‐weighted index. The risk‐adjusted returns...
Article
We investigate how savings goals relate to wealth allocation and how this relationship is moderated by financial advice and numerical ability. Using panel data from a large household survey we find that as the number and the time horizon of savings goals increases, portfolios shift from safe assets to both fairly safe assets and risky assets. We al...
Article
This paper demonstrates the effectiveness of voting bias in the Eurovision Song Contest as a means of capturing societal affinity. More than 180 million viewers from more than 40 countries watch the Eurovision Song Contest every year and vote for their favorite songs. Societal affinity between participating countries leads to systematic bias in vot...
Article
This paper introduces cross-country sympathy as a determinant of cross-border merger activity. We use abnormal votes exchanged between countries in the Eurovision Song Contest between 1999 and 2013 to proxy for sympathy across countries. We find that pairs of countries sharing high sympathy levels experience high levels of cross-border merger activ...
Article
The tenure decision upon whether to buy or to rent accommodation has long-term consequences for households’ financial wellbeing that influence macroeconomic development and stability when the cumulative effects of individual decisions are aggregated across populations. The author explains how the net present value (NPV) of ownership versus renting...
Article
Firms changing their listing from the less regulated AIM to the more regulated main section of the London Stock Exchange exhibit positive returns on the day the decision is announced, while for firms moving in the opposite direction both announcement and implementation day returns are negative. Following implementation, the pattern of returns is re...
Article
Using quarterly data from 1960 (UK), 1963 (US) and 1977 (Japan) through 2009 (all three markets) we examine long run mean reverting relationships between house prices and: inflation, disposable income, GDP and rents. We find that at the end of Q3 2009, US prices are below their mean reverting levels and at the lower end of their historic range. In...
Article
We reflect on the evolution of corporate governance and the role of institutional investors in enhancing governance in Japan and the UK. Japan places emphasis on stakeholder capitalism, whereas the UK places emphasis on shareholder capitalism. Nonetheless, in both countries, institutional investors have exerted significant influence on the evolutio...
Article
A review of literature on the theory of stock exchange competition provides the basis for a template model of a successful stock exchange. Three junior stock exchanges in East Asia which stated their ambitions to become a regional exchange for emerging firms are compared with the template and with the AIM section of the London Stock Exchange; the T...
Article
The Gordon Growth Model is used to derive widely differing fundamental values of the same gross rental yield for six hypothetical housing purchasers listed in declining order of magnitude: a fully funded consumer with a marginal tax rate of 40%, a fully funded buy to let investor with a marginal tax rate of 40%, a fully funded tax exempt consumer,...
Article
Full-text available
Many diversity, concentration and entropy metrics are analogous, sharing common origins in ecological science, engineering, mathematics, and communications theory. The difference in terminology depends upon the discipline in which the metrics are applied. The forthcoming article defines the concepts of concentration, diversity and entropy. The vari...
Article
First paragraph: To take risks is to take decisions for which the favourability of outcomes is uncertain. Therefore, every individual and business entity is a risk taker at some level. However, the existence of risk takers who are prepared to put their capital and, or, reputation at risk in the hope of a financial reward is a necessary precondition...
Article
Identifying a suitable benchmark is essential when testing asset pricing models, measuring the performance of active investors, or providing market proxy portfolios for passive investors. Concern that increased domination of capitalization weighted stock indices by a few large firms will lead to inefficient portfolio diversification is leading some...
Article
Capitalisation weighting has added 8,000 basis points of incremental returns to the FTSE 100 Index compared to an equally weighted portfolio of the same constituents. Industry factors explained 66% of the incremental returns, while size and style factors explained 2%. The capitalisation weighted index volatility was lower than the equally weighted...
Article
Capitalisation weighting has added 8,000 basis points of incremental returns to the FTSE 100 Index compared to an equally weighted portfolio of the same constituents. Industry factors explained 66% of the incremental returns, while size and style factors explained 2%. The capitalisation weighted index volatility was lower than the equally weighted...
Article
Full-text available
Few studies have examined the impact of portfolio concentration upon the realised volatility of stock index portfolios, such as the FTSE 100. Instead, previous research has focused upon diversification across industries, across geographic regions and across different firms. The present study addresses this imbalance by calculating the daily time se...

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Projects

Projects (3)
Project
I am working on several projects related to household fiannce. For example, examining: (1) the role of housing in household finance; (2) the relationship between active transport and household finance; (3) monetary policy on household consumption and saving behaviour.