51cg

Professor Angela Black

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Professor Angela Black
Professor Angela Black
Professor Angela Black

Emeritus Professor

51cg
School/Department
Business School

Biography

I joined the 51cg in 1999 and was promoted to Chair in Finance in 2003. Before joining Aberdeen I was a Lecturer in Economics at the University of St. Andrews. During my academic career I have been associate editor for many academic journals; and enjoyed supervising and supporting undergraduate, postgraduate and PhD students.  I have always been interested in asset pricing and asking questions about the reasons why prices change and forever find it rewarding to discuss and explore these topics with students and colleagues.

My service to the 51cg includes Director of the Graduate School within the College of Arts & Social Sciences (2005-2008) and Head of the Business School (2008-2011). More recently, I was Director of Staffing within the Business School prior to retiring in 2023 and becoming Emeritus Professor. This new position offers a wonderful opportunity to focus on reading, writing and imagining new ideas. 

Angela J Black (nee Devany)

Research

Research Overview

My research interests are predominantly in asset pricing.

 

Current Research

My current project is:

"Let's do what everyone else is doing". The purpose is to offer a multidisciplinary exploration of the efficient markets hypothesis drawing upon historical literature but using a statistical approach to convey a new perspective of tulipmania, the South Sea bubble, the nifty-fifty American blue chip bubble, the Japanese stock price bubble, the internet craze of 1999; and, the real estate bubble of the early 21 Century. 

Publications

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  • Adjustments in the Labor and Real Estate Markets: Estimates of the Time Series Variation in the Natural Vacancy Rate

    Black, A., Devaney, S., Hendershott, P. H., MacGregor, B. D.
    Journal of Real Estate Literature, vol. 29, no. 2, pp. 83-108
    Contributions to Journals: Articles
  • Adjustments in the Labor and Real Estate Markets: Estimates of the Time Series Variation in the Natural Vacancy Rate

    Black, A., Devaney, S. P., Hendershott, P. H., MacGregor, B. D.
    Working Papers: Discussion Papers
  • The existence and source of stock return predictability: Evidence from dividend, consumption and output ratios

    McMillan, D., Black, A., Klinkowska, O., McMillan, F.
    Journal of Asset Management, vol. 16, no. 3, pp. 186-208
    Contributions to Journals: Articles
  • Cointegration between stock prices, dividends, output and consumption: Evidence and forecasting ability for 29 markets

    Black, A., McMillan, D., McMillan, F.
    Review of Accounting & Finance, vol. 14, no. 1, pp. 81-103
    Contributions to Journals: Articles
  • Forecasting Stock Returns: Do Commodity Prices Help?

    Black, A. J., Klinkowska, O., McMillan, D. G., McMillan, F. J.
    Journal of forecasting, vol. 33, no. 8, pp. 627-639
    Contributions to Journals: Articles
  • The use of teriparatide in the treatment of postmenopausal osteoporosis: experience of using bone markers and bone mineral density to monitor response

    Hollick, R. J., Reid, D. M., Black, A. J.
    Scottish Medical Journal, vol. 58, no. 4, pp. E33-E34
    Contributions to Journals: Abstracts
  • The value premium and economic activity: long run evidence from the United States

    Black, A. J., Mao, B., McMillan, D. G.
    Journal of Asset Management, vol. 10, no. 5, pp. 305-317
    Contributions to Journals: Articles
  • Are international value premiums driven by the same set of fundamentals?

    Black, A. J., Fraser, P., McMillan, D. G.
    International Review of Economics & Finance, vol. 16, no. 1, pp. 113-129
    Contributions to Journals: Articles
  • House Prices, Fundamentals and Bubbles

    Black, A. J., Fraser, P., Hoesli, M. E. R.
    Journal of business finance & accounting, vol. 33, no. 9, pp. 1535-1555
    Contributions to Journals: Articles
  • Asymmetric risk premium in value and growth stocks

    Black, A. J., McMillan, D.
    International Review of Financial Analysis, vol. 15, no. 3, pp. 237-246
    Contributions to Journals: Articles
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Chapters in Books, Reports and Conference Proceedings

Contributions to Journals

Working Papers