Nottingham University Business School
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Professor Alistair Bruce

Image of Staff Member
MA (Hons) (St Andrews), PhD (Heriot Watt)
Professor of Decision and Risk Analysis

Division: Industrial Economics and Finance
Centre/Institute: Centre for Research in the Behavioural Sciences
E-mail: Alistair.Bruce@nottingham.ac.uk
Tel: +44 (0) 115 8466614
Location: C32 (North Building, Jubilee Campus)

Professor Bruce has spent the majority of his academic career in the School and has occupied the roles of Dean (current) Director of School (2003-2007), Acting Director (1999), Deputy Director/Dean (1995-1998, 2000-2003 and 2010-2015), Director of Research (2008-2010 and 2011-2014), Director of Undergraduate Programmes (1990-1995), Chair of Teaching and Learning Committee (various), Head of the Industrial Economics division (various) and Faculty vice-Dean (1990-1993).

Research Interests
Decision making in complex and uncertain environments; Executive remuneration and corporate governance; Efficiency of financial markets; Effects of flexible production technologies.

Administrative Roles
Chair of Accreditation Committee
Chair of Rankings Committee
I am module convenor of the following modules:


Undergraduate

Behavioural Economics and Finance (N13429)
Public Choice and Economic Policy-Making (N13407)
 

Publications prior to 2005



Publications prior to 2005

Journal Articles

Buck, T.; Bruce, A.; Main, B.; Udueni, H. (2003), "Long-Term Incentive Plans, Executive Pay and UK Company Performance", Journal of Management Studies, Vol.40 (7), pp.1709-1727.

Faria, A.P.; Fenn, P.; Bruce, A. (2003), "A Count Data Model of Technology Adoption", Journal of Technology Transfer, Vol.28 (1), pp.63-86.

Faria, A.; Fenn, P.; Bruce, A. (2002), "Determinants of Adoption of FPTs Evidence from Portuguese Manufacturing Industry", Economics of Innovation and New Technology, Vol.11 (6), pp.569-580.

Bruce, A.; Johnson, J.E.V. (2001), "Efficiency Characteristics of a Market for State-Contingent Claims", Applied Economics, Vol.33, pp.1751-1754.

Johnson, J.E.V.; Bruce, A. (2001), "Calibration of Subjective Probability Judgements in a Naturalistic Setting", Organizational Behavior and Human Decision Processes, Vol.85 (2), pp.265-290.

Bruce, A.; Main, B.G.; Buck, T.; Udueni, H. (2000), "Keep it Simple: Company Law and Directors", Hume Papers on Public Policy, Vol.8 (1), pp.92-110.

Bruce, A.C.; Johnson, J. (2000), "Market Efficiency Analysis Requires a Sensitivity to Market Characteristics: some observations on a recent study of Betting Market Efficiency", Applied Economics Letters, Vol.5, pp.199-202.

Bruce, A.C.; Johnson, J. (2000), "Investigating the Roots of the Favourite-Longshot Bias: An Analysis of Decision-Making by Supply and Demand Side Agents in Parallel Betting Markets", Journal of Behavioral Decision Making, Vol.13, pp.413-430.

Poutziouris, P.; Binks, M.; Bruce, A. (1999), "A Problem-Phenomenological Growth Model for Small Manufacturing Firms", Journal of Small Business and Enterprise Development, Vol.6 (2), pp.139-153.

Bruce, A.C.; Johnson, J. (1998), "The Complex Decision: Insights from Naturalistic Research", International Journal of Project and Business Risk Management, Vol.1, pp.403-416.

Johnson, J.; Bruce, A.C. (1998), "Risk Strategy under Task Complexity:", Journal of Behavioral Decision Making, Vol.11, pp.1-17.

Bruce, A.C.; Johnson, J. (1997), "The Analysis of Risky Decision Making: Methodological Issues and Implications", International Journal of Project and Business Risk Management, Vol.1(3), pp.287-298.

Bruce, A.C.; Johnson, J. (1997), "A Probit Model for Estimating the Effect of Complexity on Risk-taking", Psychological Reports, Vol.80, pp.763-772.

Johnson, J.E.V.; Bruce, A.C. (1997), "An Empirical Study of the Impact of Complexity on participation in horserace betting", Journal of Gambling Studies, Vol.13, pp.159-172.

Bruce, A.C.; Johnson, J.E.V. (1996), "Gender-based differences in leisure activity: performance, risk-taking and confidence in off-course betting", Leisure Studies, Vol.15, pp.65-78.

Bruce, A.C.; Johnson, J.E.V. (1996), "Decision-Making Under Risk: Effect of Complexity on Performance", Psychological Reports, Vol.79, pp.67-76.

Main, B.G.M.; Bruce, A.C.; Buck, T. (1996), "Total Board Remuneration and Company Performance", Economic Journal, Vol.106 (439), pp.1627-1644.



Chapters in Books

Bruce, A.; Johnson, J. (2002), "Investigating Betting Behaviour: A Critical Discussion of Alternative Methodological Approaches", in L Vaughan Williams (ed) The Economics of Gambling, pp.224-246.

Bruce, A.C.; Buck, T. (1997), "Executive Reward and Corporate Governance", in K Keasey, S Thompson, M Wright (ed) Corporate Governance, pp.80-102, Oxford University Press.



Conferences

Bruce, A.; Johnson, J. 2003, "The Value of Volume: Efficiency Characteristics of a Parimutuel Market", at University of Louisville's Third International Equine Industry Program Academic Conference, USA, June 2003.

Bruce, A.; Johnson, J. 2003, "The Role of Trading Volume Information in Explaining Horserace Outcomes: A Technical Analysis Perspective", at 12th International Conference on Gambling and Risk Taking, Vancouver, Canada, May 2003.

Bruce, A.; Johnson, J.E.V. 2002, "The Predictive Capacity of Odds in Horserace Betting Markets: The Role of Trading Volume", at 5th European Conference on Gambling Studies and Policy Issues, Barcelona, October 2002.

Bruce, A.; Johnson, J.E.V. 2002, "Behaviour in UK Betting Markets: Biased Judgements by Bettors or Market Manipulation by Bookmakers?", at 5th European Conference on Gambling Studies and Policy Issues, Barcelona, October 2002.

Skovoroda, R.; Main, B.; Buck, T.; Bruce, A. 2002, "Executive Pay in UK and US, Incentives and Firm Risk", at Postgraduate School of Statistical Methods in Finance and Industry, Universite` de Reims, France.

Bruce, A.C.; Johnson, J.E.V. 1998, "Decision-making Anomalies in Financial Markets: New Insights Into the "Favourite-Longshot Bias"", at European Association for Study of Gambling, Munich, Germany.

Bruce, A.C.; Johnson, J.E.V. 1996, "Market Power in British Pari-Mutuel and Bookmaker-Based Horserace Betting Market: An Empirical Analysis", at European Association for Study of Gambling, Cambridge, UK.



Discussion Papers

Bruce, A.; Johnson, J.E. 1998, "Decision-making anomalies in financial markets: new insights into the "favourite-longshot bias"", Nottingham University Business School Discussion Paper, Nottingham University Business School.

Bruce, A.; Johnson, J.E. 1996, "Market Power in British Pari-Mutuel and Bookmaker based Horserace Betting markets: An Empirical Analysis", Nottingham University Business School Discussion Paper, Nottingham University Business School.



Publications from 2005 to the present day

Journal Articles

Bruce, A., Clarson, D. (2017), "Assessing the potential and limits of community-based initiatives in urban regeneration: three decades of experience on Sheffield\'s Manor estate", Regional Studies, Regional Science, Vol.4 (1), 80-93.

Skovoroda, R; Bruce, A, (2017), "Shifting the Goalposts? Analysing Changes to Performance Peer Groups Used to Determine the Remuneration of FTSE100 CEOs", British Journal of Management, forthcoming 2017.

Bruce, A.; Johnson, J.; Oekonomides, A. (2015), "Does transparency imply efficiency? The case of the European soccer betting Market", Economics Letters, Vol.128, pp. 59-61.

Bruce, A.; Marginson, D. (2013), "Power not fear: a collusion-based account of betting market inefficiency", International Journal of the Economic of Business, Vol.21 (1), pp. 77-97, DOI: 1080/13571516.2013.782982.

Bruce, A.; Skovoroda, R. (2013), "Bankers\' bonuses and the financial crisis: Context, evidence and the rhetoric-policy gap", Business History, Vol.55 (2), pp. 139-160.

Bruce, A.; Johnson, J.; Peirson, J. (2012), "Recreational versus professional bettors: performance differences and efficiency implications", Economics Letters, Vol.114 (2), pp, 172-174.

Bruce, A.; Johnson, J.; Tang, L. (2011), "The explanatory power of trading volume iand insider activity in a pari-mutel betting market", European Journal of Finance, Vol.17 (3), pp. 197-216.

Johnson, J.; Bruce, A.; Yu, J. (2010), "The Ordinal Efficiency of Betting Markets: an exploded logit approach", Applied Economics, Vol.42, pp. 3703-3710.

Bruce, A.; Johnson, J.; Peirson, J.; Yu, J. (2009), "An examination of the determinants of biased behavior in a market for state contingent claims", Economica, Vol.76 (302), pp. 282-303.

Bruce, A.; Skovoroda, R.; Fattorusso, J.; Buck, T. (2007), "Executive Bonus and Firm Performance in the UK", Long Range Planning, Vol.40 (3), pp. 280-294.

Fattorusso, J.; Skovoroda, R.; Buck, T.; Bruce, A. (2007), "UK Executive Bonuses and Transparency - A Research Note", British Journal of Industrial Relations, Vol.45 (3), pp. 518-536.

Bruce, A.; Buck, T.; Main, B. (2005), "Top Executive Remuneration: A View from Europe", Journal of Management Studies, Vol.42 (7), pp. 1493-1506.

Bruce, A.; Johnson, J. (2005), "Market Ecology and Decision Behaviour in a State - Contingent Claims Market", Journal of Economic Behavior and Organization, Vol.56 (2), pp.199-217.

Faria, A.; Fenn, P.; Bruce, A. (2005), "Production Technologies and Technical Efficiency: Evidence from Portuguese Manufacturing Industry", Applied Economics, Vol.37, pp.1037-1046.



Books

Johnson, C.; Bruce, A. (2008), Decisions: Risk and Reward, Routledge.



Chapters in Books

Bruce, A. (2014), "Betting Motivation and Behavior", in Vaughan, W L, and Siegel, D (ed) The Oxford handbook of the Economics of Gambling, pp. 451-473, Oxford University Press.

Sung, M.; Johnson, J.; Bruce, A. (2005), "Searching for Semi-Strong Form in Efficiency in the Uk Racetrack Betting Marketing", in Vaughan Williams, L. (ed) Information Efficiency in Financial and Betting Markets, pp. 179-192, Cambridge University Press.



Conferences

Skovoroda, R.; Bruce, A. 2013, "Peer Groups and Performance-Based Remuneration for FTSE 100 CEOs: analysing the impact of changes to peer group composition", at 4th European Reward Management Conference (RMC 2013), Managing Rewards: What can we learn from a comparative approach?, Brussels, December 2-3, 2013.

Skovoroda, R.; Buck, T.; Bruce, A. 2013, "Incentives in CEO Pay and Company Risk: Evidence from the UK", at 11th European Academic conference on Internal Audit and Corporate Governances B1 Norwegian Business School, Oslo, April.

Skovoroda, R.; Buck, T.; Bruce, A. 2013, "Incentives in CEO Pay and Company Risk: Evidence from the UK", in 11th European Academic conference on Internal Audit and Corporate Governances B1 Norwegian Business School, Oslo, April.

Bruce, A.; Johnson, J. 2005, "On Track Versus Off Track Betting: On Investigation of Differential Performance", at European Association for Study of Gambling Conference, Nova Gorica, Slovenia.

Bruce, A.; Johnson, J. 2005, "Trading Volume and Betting Market Efficiency: The Role of Insiders", at European Association for Study of Gambling Conference, Malmo, Sweden, July 2005.



Reports for external body

Skovoroda, R., Bruce. A., Buck, T. 2016, "Corporate Governance Enquiry: Complex Incentive Schemes", in Business, Innovation, and Skills (BIS) Committee on Corporate Governance.

Bruce, A.; Skovoroda, R. 2015, "The Empirical Literature on Executive Pay: Context, the Pay-Performance Issue and Future Directions", in The High Pay Centre, London.

 

 

Nottingham University Business School

Jubilee Campus
Nottingham
NG8 1BB

telephone: +44 (0) 115 846 6602
fax: +44 (0) 115 846 6667
email: business-enquiries@nottingham.ac.uk