UK Campus
Nottingham University Business School
   
   

Professor David Newton

BSc, PhD, MBA
Professor of Finance
E-mail: David.Newton@nottingham.ac.uk
Tel: +44 (0) 115 8467414
Location: C03 (North Building, Jubilee Campus)


I joined Nottingham University Business School with a Chair in Accounting and Finance in February 2005, becoming Divisional Research Director then Head of Division for Accounting and Finance until 2012. From early 2013, I worked as Academic Lead in setting up the Guangdong Nottingham Advanced Finance Institute. This was launched in April 2014 and I was CEO until October 2014, to bring the project to the point where it made a profit on programmes. I am also linked with the Centre for Global Finance on our Ningbo campus.

I am a Visiting Fellow at Manchester Business School, where I was previously Director of their Executive MBA Programme. I am a member of Pembroke College Cambridge and was a Visiting Research Fellow at Cambridge Judge Business School during 2013. I am a Senior Advisor for the China UK Development Council (CUDC).

Research Interests
Derivatives - option pricing, financial engineering and mathematical finance.
Financial instruments and markets.

Invited seminars in 2015:-
University of Bath School of Management, March.
School of Finance, Renmin University, Beijing, April.
School of Economics and Management, Chongqing University, April.
Chinese Finance Research Institute, Southwestern University of Finance and Economics, Chengdu, April.
Shanghai Institute of Futures and Derivatives (Shanghai Futures Exchange), May.
London Mathematical Finance Seminar Series, June.
Luxembourg School of Finance, September.

If you are interested in applying to research with me towards a PhD, you are welcome to e-mail me (or any of my doctoral students for their views).

Administrative Roles
Co-course Director on the MSc in Numerical Techniques in Finance with School of Mathematics
The following lists my publications from 1996 to the present day.

Journal Articles

Newton, D. P.; Boateng, A.; Du, A.(2015)., "The Impact of State Ownership, Formal Institutions and Resource Seeking on Acquirers' Returns of Chinese M&A", Review of Quantitative Finance and Accounting, forthcoming 2015.

Newton, D. P.; Boateng, A.; Nguyen, V.(2015)., "Involuntary Excess Reserves, the Reserve Requirements and Credit Rationing in China", Applied Economics, Vol.47 (14), pp. 1-14.

Newton, D. P.; Chen, D.; Harkonen, H.(2014)., "Advancing the Universality of Option Valuation Using Quadrature Methods", Journal of Financial Economics, Vol.114 (3), pp. 600-612.

Newton, D. P.; Guo, B.(2013)., "Regime Dependent Liquidity Determinants of Credit Default Swap Spread Changes", Journal of Financial Research, Vol.36 (2), pp. 279-298.

Newton, D. P.; Johnson, P.; Sharp, N.; Duck, P.(2011)., "A bridge between American and European Options: the "Ameripean" delayed-exercise model", SIAM Journal on Financial Mathematics, Vol.2 (1), pp. 965-988.

Newton, D. P.; Duck, P.; Glover, K.(2010)., "On nonlinear models of markets with finite liquidity: some cautionary notes", SIAM Journal on Applied Mathematics, Vol.70 (8), pp. 3252-3271.

Newton, D. P.; Duck, P.; Widdicks, M.; Yang, C.(2009)., "Singular perturbation techniques applied to multi-asset option pricing", Mathematical Finance, Vol.19, pp.457-486.

Newton, D. P.; Johnson, P.; Sharp N, . Duck, P.(2009)., "A new prepayment model (with default): an occupation-time derivative approach", Journal of Real Estate Finance and Economics, Vol.39 (2), pp. 118-145.

Newton, D. P.; Sharp, N.; Duck, P.(2008)., "An Improved Fixed-Rate Mortgage Valuation Methodology With Interacting Prepayment and Default Options", Journal of Real Estate Finance and Economics, Vol.36, pp. 307-342.

Newton, D. P.; Andricopoulos, A.; Duck, P.; Widdicks, M.(2007)., "Extending Quadrature Methods to Value Multi-Asset and Complex Path Dependent Options", Journal of Financial Economics, Vol.83 (2), pp. 471-499.

Newton, D. P.; Andricopoulos, A.; Duck, P.; Widdicks, M.(2005)., "The Black-Scholes Equation Revisited: Asymptotic Expressions and Singular Perturbations", Mathematical Finance, Vol.15 (2), pp.373-391.

Newton, D. P.; Duck, P.; Leung, Y.; Widdicks, M.(2005)., "Enhancing the Accuracy of Pricing American and Bermudan Options", Journal of Derivatives, Vol.12 (4), pp. 1222-1234.

Newton, D. P.; Andricopoulos, A.; Duck, P.; Widdicks, M.(2004)., "Curtailing the Range for Lattice and Grid Methods", Journal of Derivatives, Vol.12 (4), pp.55-61.

Newton, D. P.; Paxson, D.; Widdicks, M.(2004)., "Real R & D Options", International Journal of Management Review, Vol.6 (2), pp.113-130.

Newton, D. P.; Andricopoulos, A.; Duck, P.; Widdicks, M.(2003)., "Universal Option Variation Using Quadrature", Journal of Financial Economics, Vol.67 (3), pp.447-471.

Newton, D. P.; Azevedo-Pereira, J.; Paxson, D.(2003)., "Fixed Rate Endowment Mortgage and Mortgage Indemnity Valuation", Journal of Real Estate Finance and Economics, Vol.26 (2), pp.197-221.

Newton, D. P.; Andricopoulos, A.; Duck, P.; Widdicks, M.(2002)., "On the Enhanced Convergence of Standard Lattice Methods for Option Pricing", Journal of Futures Markets, Vol.22 (4), pp.315-338.

Newton, D. P.; Azevedo-Pereira, J.; Paxson, D.(2002)., "UK Fixed Rate Repayment Mortgage and Mortgage Indemnity Valuation", Real Estate Economics, Vol.30 (2), pp.185-211.

Newton, D. P.; Doctor, R.; Pearson, A.(2001)., "Managing Uncertainty in Research and Development", Technovation, Vol.21 (2), pp.79-90.

Newton, D. P.; Azevedo-Pereira, J.; Paxson, D.(2000)., "Numerical Solution of a Two State Variable Contingent Claims Mortgage Valuation Model", Portuguese Review of Financial Markets, Vol.3 (1), pp. 35-65.

Newton, D. P.; Wood, D.(1999)., "Asset Liability and Value at Risk Perspectives on Capital Adequacy", ASCI Journal of Management, Vol.29 (1), pp. 9-22.

Newton, D. P.; Paxson, D.; Pearson, A.(1996)., "Real R & D Options", R & D Decisions: Strategy, Policy and Innovations, 273-282.

Newton, D. P.; Pearson, A.(1994)., "Application of Option Pricing Theory to R & D", R and D Management, Vol.24, pp 83-89.



Books

Howell, S.; Stark, A.; Newton, D. P.; Paxson, D.; Cavus, M.(2005), Real Options, An Introduction For Executives, translated into Chinese in the "Top CFO" series".

Howell, S.; Stark, A.; Newton, D. P.; Paxson, D.; Cavus, M.(2002), Real Options: How to Use Real Options to Evaluate Investment and Financial Decisions (FT Management Briefings), Ebook.

Howell, S.; Stark, A.; Newton, D. P.; Paxson, D.; Cavus, M.; Azevedo-Pereira, J.; Patel, K.(2001), Real Options, Evaluating Corporate Investment Opportunities In A Dynamic World, Financial Times/ Prentice Hall.

Howell, S.; Stark, A.; Newton, D. P.; Paxson, D.; Cavus, M.(2000), Real Options, An Introduction For Executives, Financial Times Prentice Hall.



Conferences

Guo, B.; Newton, D. P., 2011, "Regime Dependent Liquidity Determinant of Credit Default Swap Spread Changes", at 24th Australasian Fiannce & Banking Conference 2011, December, Sydney, Australia.

Johnson, P.; Sharp, N.; Duck, P.; Newton, D. P., 2007, "Enhanced Finite-Difference Techniques for Early-Exercise Options on Single and Multiple Underlyings", at The 20th Australasian Finance & Banking Conference 2007, December, Sydney, Australia.

Sharp, N.; Newton, D. P.; Duck, P.; Johnson, P., 2007, "A New Prepayment Model An Occupation-Time Derivative Approach", at Radon Workshop on Financial and Actuarial Mathematics for Young Researchers, Linz, Austria, May.

Sharp, N.; Newton, D. P.; Duck, P., 2006, "An Improved Fixed-Rate Mortgage Valuation Methodology With Interacting Prepayment and Default Options", at The Bachelier Finance Society, Fourth World Congress, August, Tokyo.

I am currently supervising the following Research Students:

Conghui Chen
Haozhe Su
Hui Tian
Kai Xing
Qi Hu
Sadegh Javaheriafif
Xiyang Wang

External Exminerships & Validations
   External Examiner, MBA Programme, Cranfield School of Management
   External Examiner, Masters of Finance, Judge Business School, Cambridge
   Linked with the Centre for Global Finance on our Ningbo Campus
   Visiting Fellow: Manchester Business School, Cambridge Judge Business School
   MSc Computational Finance, University College London

Nottingham University Business School

Jubilee Campus
Nottingham
NG8 1BB

telephone: +44 (0) 115 84 66602
fax: +44 (0) 115 84 66667
email: business-enquiries@nottingham.ac.uk