Professor Michael Drew

Professor Michael Drew BEcon MEconSt PhD (QLD) GCertHED (Griff)

Discipline Head of Finance and Financial Planning, Griffith Business School

Contact details for Professor Michael Drew

Research expertise

  • Superannuation, Pensions and Investment Management
  • Target Date Funds and Lifecycle Investing
  • Evaluation of Investment Performance
  • Retirement policy

Current teaching areas

  • Corporate Finance
  • Advanced Business Finance (Honours Program)

Publications

Refereed journal articles

  • Clements, A., M. Drew, I. Krpan and M. Veeraraghavan, 2009, ‘Can Book-to-Market and Size be Risk Factors that predict Economic Growth in Asia's Emerging Economies?’, Finance India, vol. 23, no. 4, December, forthcoming.
  • Basu, A. and M. Drew, 2009, ‘The Case for Gender-Sensitive Superannation Plan Design’, Australian Economic Review, vol. 42, no. 2, pp.177-189.
  • Basu, A. and M. Drew, 2009, ‘Portfolio Size and Lifecycle Asset Allocation in Pension Funds’, Journal of Portfolio Management, vol. 35, no. 3, pp. 61-72.
  • Clements, A., M. Drew, E. Reedman and M. Veeraraghavan, 2009, ‘The Death of the Overreaction Anomaly? A Multifactor Explanation of Contrarian Returns’, Investment Management and Financial Innovations, vol. 6, no. 1, pp. 76-85.
  • Bianchi, R., M. Drew and A. Stanley, 2008, ‘The Search for Hedge Fund Alpha’, JASSA, no. 3, pp. 39-47.
  • Drew, M. and G. Tharenou, 2008, ‘Retirement Wealth Decisions in Australia’s Superannuation System: Part 3, Decumulation’, Australasian Journal of Business and Social Enquiry, vol. 6, no. 2, pp. 50-74.
  • Drew, M. and G. Tharenou, 2008, ‘Retirement Wealth Decisions in Australia’s Superannuation System: Part 2, Conversion’, Australasian Journal of Business and Social Enquiry, vol. 6, no. 2, pp. 24-49.
  • Drew, M. and G. Tharenou, 2008, ‘Retirement Wealth Decisions in Australia’s Superannuation System: Part 1, Accumulation’, Australasian Journal of Business and Social Enquiry, vol. 6, no. 2, pp. 2-23.
  • Drew, M., M. Veeraragahvan and M. Ye, 2007, ‘Do Momentum Strategies Work? Australian Evidence’, Managerial Finance, vol. 10, no. 3, pp. 289–308.
  • Drew, M., A. Marsden and M, Veeraraghavan, 2007, ‘Does Idiosyncratic Volatility Matter? New Zealand Evidence’, Review of Pacific Basin Financial Markets and Policies, vol.10, no. 3, pp. 289-308.
  • Clements, A., G. Dale and M. Drew, 2006, ‘Australia’s Retail Superannuation Fund Industry: Structure, Conduct and Performance’, Accounting, Accountability and Performance, vol. 12, no. 2, pp. 1-32.
  • Drew, Michael E., 2006, ‘Superannuation: Switching and Roulette Wheels’, Australian Accounting Review, vol. 16, no. 3, pp. 23-31.
  • Drew, M., A. Marsden and M. Veeraraghavan, 2006, ‘Small Firm Effect, Liquidity and Security Returns: Australian Evidence’, Journal of Emerging Market Finance, vol. 5, no. 2, pp. 135-149.
  • Drew, M., M. Mallin, T. Naughton and M. Veeraraghavan, 2006, ‘Equity Premium: Does it Exist? Evidence from Germany and the United Kingdom’, Studies in Economics and Finance, vol. 23, no.2, pp. 80-93.
  • Subramaniam, N., M. Drew and K. Clowes-Doolan, 2005, ‘Approaches to Learning in the Honours Year Supervisory Relationship: A Preliminary Investigation’, Australasian Journal of Economics Education, vol. 2, nos. 1 & 2, pp. 142-157.
  • Bianchi, R., M. Drew and J. Polichronis, 2005, ‘A Test of Momentum Trading Strategies in Foreign Exchange Markets: Evidence from the G7’, Global Business and Economics Review, vol. 7, nos. 2 & 3, pp. 155-179.
  • Clements, A. and M. Drew, 2005, ‘Investor Expectations and Beta Risk’, JASSA, no. 3, pp. 8-13. Reprinted in: Asian Securities Analysts Federation Inc. E-Journal, vol. 8, pp. 87-102.
  • Drew, M., T. Naughton and M. Veeraraghavan, 2005, ‘Pricing of Equities in China: Evidence from the Shanghai Stock Exchange’, Managerial Finance, vol. 31, no. 12, pp. 46-57.
  • Drew, M., J. Stanford and B. Stanhope, 2005, ‘Sustainable Retirement: A Look at Consumer Desires’, Australasian Journal of Business and Social Enquiry, vol. 3, no. 3, pp. 1-23.
  • Drew, M., M. Veeraraghavan, and V. Wilson, 2005, ‘Market Timing, Selectivity and Alpha Generation: Evidence from Australian Equity Superannuation Funds’, Investment Management and Financial Innovations, vol. 2, no. 2, pp. 111-127.
  • Drew, M., T. Naughton and M. Veeraraghavan, 2004, ‘Is Idiosyncratic Volatility Priced? Evidence from the Shanghai Stock Exchange’, International Review of Financial Analysis, vol. 13, no. 3, pp. 349-366.
  • Clements, A., and M. Drew, 2004, ‘Institutional Homogeneity and Choice in Superannuation’, Accounting Research Journal, vol. 17, no. 2, pp. 102-112.
  • Drew, M. and J. Stanford, 2004, ‘Why is Superannuation Compulsory?’, Australian Economic Review, vol. 37, no. 2, pp. 1-7.
  • Drew, M. and J. Stanford, 2004, ‘Portability of Superannuation Balances’, Agenda, vol. 11, no. 2, pp. 113-125.
  • Chong, L., M. Drew and M. Veeraraghavan, 2003, ‘The Interdependence of Australian and International Stock Markets’, Pacific Accounting Review, vol. 15, no. 2, pp. 51-76.
  • Drew, M. and M. Veeraraghavan, 2003, ‘Beta, Firm Size, Book to Market Equity and Stock Returns: Further Evidence from Emerging Markets’, Journal of the Asia Pacific Economy, vol. 8, no. 3, pp. 354-379.
  • Drew, M., 2003, ‘Superannuation Funds: Fees and Performance’, JASSA, no. 3, pp. 31-36.
  • Drew, M. and J. Stanford, 2003, ‘Returns from Investing in Australian Equity Superannuation Funds, 1991-1999’, Service Industries Journal, vol. 23, no. 4, pp. 12-24.
  • Drew, M. and J. Stanford, 2003, ‘Is there a Positive Relationship between Superannuation Fund Costs and Returns?’, Economic Papers, vol. 22, no. 3, pp. 74-84.
  • Drew, M., T. Naughton and M. Veeraraghavan, 2003, ‘Firm Size, Book-to-Market Equity and Security Returns: Evidence from the Shanghai Stock Exchange’, Australian Journal of Management, vol. 28, no. 2, pp. 119-139.
  • Drew, M. and J. Stanford, 2003, ‘Principal-and-Agent Problems in Superannuation Funds’, Australian Economic Review, vol. 36, no. 1, pp. 98-107.
  • Drew, M. and M. Veeraraghavan, 2002, ‘Idiosyncratic Volatility and Security Returns: Evidence from Pacific-Basin markets’, International Quarterly Journal of Finance, vol. 2, Nos. 1-4, pp. 1-13.
  • Drew, M. and M. Veeraraghavan, 2002, ‘A Closer Look at the Size and Value Premium in Emerging Markets: Evidence from the Kuala Lumpur Stock Exchange’, Asian Economic Journal, vol. 16, no. 4, pp. 337-351.
  • Drew, M., J. Stanford, and M. Veeraraghavan, 2002, ‘Selecting Australian Equity Superannuation Funds: A Retail Investor’s Perspective’, Journal of Financial Services Marketing, vol. 7, no. 2, pp. 115-128.
  • Drew, M. and M. Veeraraghavan, 2002, ‘A Test of the Fama-French Three Factor Model in the Australian Equity Market’, Accounting, Accountability and Performance, vol. 8, no. 1, pp. 77-92.
  • Drew, M. and J. Stanford, 2002, ‘The Economics of Choice of Superannuation Fund’, Accounting, Accountability and Performance, vol. 8, no. 1, pp. 1-20.
  • Drew, M., J. Stanford, and D. Hoffman, 2002, ‘Assets Under Management and Superannuation Fund Performance: A Third Note for Trustees’, Economic Papers, vol. 21, no. 1, pp. 80-91.
  • Drew, M., J. Stanford, and M. Veeraraghavan, 2002, ‘Efficiency with Costly Information: A Study of Australian Equity Wholesale Superannuation Fund Performance’, Economic Analysis and Policy, vol. 32, no. 1, pp. 35-47.
  • Drew, M., J. Stanford, and P. Taranenko, 2001, ‘Hot Hands and Superannuation Fund Performance: A Second Note for Trustees’, Economic Papers, vol. 20, no. 4, pp. 18-25.
  • Drew, M. and M. Veeraraghavan, 2001, ‘Explaining the Cross-Section of Stock Returns in the Asian Region’, International Quarterly Journal of Finance, vol. 1, nos. 2-4, pp. 205-221.
  • Drew, M. and J. Stanford, 2001, ‘The Impact of Fund Attrition on Superannuation Returns’, Economic Analysis and Policy, vol. 31, no. 1, pp. 25-32.
  • Drew, M. and J. Stanford, 2001, ‘Asset Selection and Superannuation Fund Performance: A Note for Trustees’, Economic Papers, vol. 20, no. 1, pp. 57-65.
  • Drew, M. and J. Noland, 2000, ‘EMH is Alive and Well’, JASSA, no. 4, pp. 15-18.

Books

  • Drew, J. and M. Drew, 2005, The Process of Participation and Phased Retirement: Evidence from Mature Aged Workers in Australia, Post Pressed: Brisbane.

Book chapters

  • Bianchi, R., M. Drew, M. Veeraraghavan, and P. Whelan, 2009, ‘Hedge fund style analysis with the Gap Statistic’, in The Emerging Trends in Hedge Fund Strategies, Professor Yasuaki Watanabe (ed.), Nova Science Publishers, forthcoming.
  • Bianchi, R., and M. Drew, 2009, ‘Hedge funds: Attrition, Biases and the Survivor Premium’, in The Emerging Trends in Hedge Fund Strategies, Professor Yasuaki Watanabe (ed.), Nova Science Publishers, forthcoming.

Editorial boards

  • Deakin Business Review; JASSA; Review of Pacific Basin Financial Markets and Policies.

Community service

  • Member, Academic Committee, Kaplan
  • Adjunct Professor of Finance and Member, Faculty of Business Academic Advisory Committee, University of the Sunshine Coast
  • Senior Fellow (SF Fin); Member, Managed Funds and Superannuation Advisory Committee; Editorial Board Member of JASSA, FINSIA
  • ARC Australian Reader (Ozreader), 2009-10

Grants awarded

  • Australian Research Council Linkage Grant (Round 2, 2008): “Reforming the procurement of construction and financing of Australian infrastructure: Advancing capacity, competition and investment” (2009-2011), with Prof RM Skitmore; Mr AJ Bridge; Dr RJ Bianchi; Prof SM Rowlinson; Mr MC Jefferies. Status: Ongoing
  • Australian Research Council Linkage Grant (Round 1, 2006): “Airport Metropolis: Managing the Interfaces” (2007-10), with Dr DC Baker; Prof NF Ryan; A/Prof R Freestone; Prof KA Brown; Prof L Ferreira; A/Prof A Goonetilleke; Prof PM Charles; Dr P Barnes; Prof WE Walker; Prof JD Kasarda; Dr SJ Appold; Mr SM Goodwin; Mr AR Walker; Dr MB Charles; Prof M Weijnen. Status: Completed
  • Australian Research Council Discovery Grant (Round 1, 2003): “Modelling the Risk of Defined Contribution Superannuation Plans” (2004-06), sole investigator. Status: Completed
  • Australian Research Council Linkage Grant (Round 1, 2003): “Hedge Funds in Superannuation Portfolios: Are the Returns Worth the Risks?” (2004-06), sole investigator. Status: Completed

Professional memberships

  • Member, American Finance Association
  • Member, Accounting and Finance Association of Australia and New Zealand
  • Member, Financial Integrity Research Network (an ARC funded research network)

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Member of Innovative Research Universities Australia