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Professor Michael Skully

BS BA Arizona MBA Utah GradDipEc Stockholm SnFin FCPA
Chair in Banking

Professor Michael Skully

Michael came to Monash in 1992 from the University of New South Wales where he was an Associate Professor in its School of Banking and Finance. Prior to this he worked for a USA investment bank, Universal Underwriting Services, and before then in the Finance Department of the General Electric Company. His research and teaching is mainly in the area of financial institutions in Australia and the Asia Pacific region as well as in corporate finance. Professor Skully has published widely in these areas within academic and professional journals. His books include Merchant Banking in Australia, ASEAN Financial Cooperation, Financial Institutions and Markets in the South Pacific, Merchant Banking in ASEAN, and Merchant Banking in the Far East.

Research: Financial institutions in the Asia Pacific development finance and microfinance financial/regulatory policy and prudential issues, dividend reinvestment plans and dividend policy, international banking and financial centres, corporate governances, Islamic banking and finance.
Teaching:

AFF3351 Investment Banking
AFF9260 Australian Capital Markets
Address: Department of Accounting and Finance
Monash University
900 Dandenong Rd
Caulfield East, Vic, 3145
Australia
Located at: Room 3.59, Building H, Caulfield Campus
Tel: +61 3 9903 2407
Fax: +61 3 9903 1443
Email: Michael.Skully@BusEco.monash.edu.au
Publications:

COMMERCIAL BOOKS AND MONOGRAPHS:

Hogan, W., K. Avram, C. Brown, D. Ralstson, M. Skully, G. Hempel, and D. Simonson, Management of Financial Institutions, Second Edition, Brisbane: John Wiley & Sons, 2004.

Bruce, R., B. McKern, I. Pollard and M. Skully (editors), Handbook of Australian Corporate Finance, Fifth Edition, North Ryde: Butterworths, 1997.

Edwards, R., and M. Skully (editors) ASEAN Business, Trade and Development: an Australian perspective, Melbourne: Butterworth-Heineman, 1996.

Skully, M. (Editor), International Corporate Finance: a handbook for Australian business, North Ryde: Butterworths, 1990.

Skully, M., Merchant Banking in Australia, Melbourne: Oxford University Press, 1987.

Skully, M., Financial Institutions in the South Pacific: a study of New Caledonia, Solomon Islands, Tonga, Vanuatu, and Western Samoa, London: Macmillan, 1987.

Skully, M., ASEAN Financial Cooperation: developments in banking, finance and insurance, London: Macmillan, 1985.

ARTICLES IN REFERRED JOURNALS:

Liu, B and M. Skully, 2008, The impact of securitisation and structural changes of Australian mortgage markets on bank pricing behaviour, International Journal of Business, Accounting and Finance, Vol. 1, No. 2, pp. 149-167.

Pathan, Shams, Michael Skully and J. Wickramanayake, 2008, Reforms in Thai Bank governance: The aftermath of the Asian financial crisis, International Review of Financial Analysis, Vol.17, No. 2, pp. 345-362.

Ahmad, R., M. Ariff and M. Skully, 2007, Bank Mergers in Malaysia 1999-2002: Determinants of Acquiring Banks, Multinational Finance Journal, Vol. 11, No. 1/2, pp. 1-31

Avram, K. and M. Skully, 2007, Australian bank risk reporting, Monash Business Review, Vol. 3, No. 2, pp.  6-7.

Brown, Kym and M. Skully, 2007, Islamic Banks from a Global Perspective, Journal of Islamic Economics, Banking and Finance, Vol. 3 No. 2, July-December, pp. 105-133.

Perera, S., M. Skully, and J. Wickramanayake, 2007, Cost Efficiency of South Asian banking: the impact of bank size, state ownership and stock exchange listings, International Review of Finance, Vol. 7, No. 1-2, pp. 35-60.
 
Pathan, Shams, Michael Skully and J. Wickramanayake, 2007, Board Size, Independence and Performance: An Analysis of Thai Banks, Asia Pacific Financial Markets, Vol. 14, No. 3, pp. 211-237.

Skully, M, 2007, Alternative investments: definition, importance and risks, JASSA, Vol 3, pp. 35-39.

Viverita, R, K. Brown and M. Skully, 2007, DEA Efficiency Performance of Islamic Banks, Review of Islamic Economics, Vol. 11, No. 2, pp. 5-16.

Ahsan, A., Skully, M. T., Wickramanayake, J., 2006, Determinants of central bank independence and governance: Problems and policy implications, Journal of Administration and Governance, vol 1, ed 1, pp. 47-67.

Balachandran, B., Skully, M. T., Tant, K. G., Watson, J., 2006, Australian evidence on student expectations and perceptions of introductory business finance, Accounting and Finance, vol 46, ed 5, pp. 697-713.

Brown, K. E., Skully, M. T., 2006, Banking markets in the Asia-Pacific region, Monash Business Review, vol 2, ed 2,  pp. 1-15.

Brown, K. E., Skully, M. T., 2006, Evaluating cost performance of banks in the Asia Pacific, Economic Papers, vol 25, ed 4, pp. 61-70.

Perera, G. H. S., Skully, M. T., Wickramanayake, J., 2006, Competition and structure of South Asian banking: A revenue behaviour approach, Applied Financial Economics, vol 16, ed 11, pp. 789-801.

Chen, X., Skully, M. T., Brown, K. E., 2005, Banking efficiency in China: Application of DEA to pre- and post-deregulation eras: 1993-2000, China Economic Review, vol 16, ed 3, pp. 229-245.

Liu, B., Skully, M. T., 2005, The determinants of mortgage yield spread differentials: securitization, Journal of Multinational Financial Management, vol 15, ed 4-5, pp. 314-333.

Brown, K., and M. Skully, "A Cross-Country Study of Performance of Islamic bank," Accounting, Commerce & Finance: the Islamic Perspective Journal, Vol. 8, No.1 & 2, June & December, 2004, pp. 43-80.

Perera, S., M. Skully, and J. Wickramanayake, "Human Development in South Asia: A Multifaceted Analysis," South Asia: Journal of South Asian Studies, Vol.28, No. 3, December, 2005, forthcoming.

Balachandran, B. and M. Skully, "Student Perceptions of Introductory Business Finance: accounting and finance versus other majors," Advances in Financial Education, Vol 2, 2004, pp. 34-51.

Ariff, M, T.K. Lim and M. Skully, "Accurate Prediction of Analyst Forecast Revisions and Stock Returns: EPS versus Non-EPS variables", Global Business and Finance Review, 8:1, 2003, pp 61-75.

Ariff, M, T.K. Lim and M. Skully, "Information-Relevance of Analyst Expectations: Evidence from Forecasts of Earnings and Cash Flows", Journal of Malaysian Economic Studies, 39 (no. 4, Dec., 2002):

Avram, K. and M. Skully, "Domestic Settlement Systems in East Asia - Pacific Economies," Journal of Asian Business, Vol. 17 No. 2, 2001.

Arsiraphongphisi, O., G. Kester and M. Skully, Financial Policies and Practices of Listed Firms in Thailand: Capital Structure, Cost of Capital, and Dividends”, Journal of Business Administration, Vol.23, October-December, 2000

Kester, G. , R.P. Chang, E.S. Echanis, S. Haikal, M. Md.Isa, M. Skully, K.C. Tsui and C.J. Wang, “Capital Budgeting Practices in the Asia Pacific Region", Financial Practice and Education, Vol.9, No.1, Spring/Summer, 1999

Chan, K.W., D.W. McColough, and M. Skully "Australian dividend reinvestment plans: an event study on discount rates," Applied Financial Economics, Vol. 6, No. 6, December, 1996.

Chan, K.W., D.W. McColough, and M. Skully, "Dividend Reinvestment Plans in Australia," Global Finance Journal, Vol. 6, No. 1, Spring, 1995, pp. 79-99.

Skully, Michael, "Malaysia's International Offshore Financial Centre: an examination of Labuan's development and operations," ASEAN Economic Bulletin, No.3, Vol.11, March, 1995, pp. 335-349.

Ho, Ron Y.W. and M. Skully, "Credit Unions in Hong Kong," Savings and Development, No.1, Vol.XVII, 1993, pp. 61-76.

Chan, K.W., D.W. McColough, and M. Skully, "Australian tax changes and dividend reinvestment announcement effects: a pre and post-imputation study", Australian Journal of Management, No.1, Vol.18, June, 1993, pp. 41-62.

Li, Kui Wai and M. Skully, "Accumulation of financial resources in Asian economies," Savings and Development, No.3, Vol.XVI, 1992, pp. 225-241.

CHAPTERS IN COMMERCIAL BOOKS

Ahsan, A., M. Skully, and J. Wickramanayake, 2008, Central bank independence and governance: Definitions and Modeling, In Central bank governance: issues and perspectives, Hyderabad: Institute of Chartered Financial Analysts of India (ICFAI) University Press, ISBN 978-81-314-1474-3, pp. 12-58.

Brown, K., K. Hassan, and M. Skully, 2007, Operational Efficiency and Performance of Islamic Banks, in Hassan, K.M., and M.K. Lewis (eds) The Handbook of Islamic Banking, Cheltham, UK: Elgar Publishing, ISBN 978-1-84542-083-3.

Skully, M. T., Brown, K. E., 2006, Romanian financial markets, in Emerging European Financial Markets: Independence and Integration Post-Enlargement, eds Jonathan A. Batten and Colm Kearney, Elsevier Ltd, Netherlands, pp. 281-321.

Brown, K. and M. Skully, Regional comparative analysis of China's banking system" in R. Smyth, O.K. Tam, M. Warner, and C. Zhu (editors), China's Business Reforms: Institutional challenges in a globalized economy, Routledge Curzon, London, 2005, pp. 27-45

Ariff, M., and M. Skully "Banking and Regulatory Reform in Post Crisis Asia," in D. Ghosh, and M. Ariff (Eds), Global Financial Markets: issues and strategies, Westport, CT: Praeger, 2004, ISBN 1 56720-572-0, pp. 105-120.

Brown, K. and M. Skully, "Comparative Islamic Bank Performance with Environmental Considerations," in B. Shanmugan, V. Perumal, and A.H. Ridzwa, (eds) Islamic Banking: an international perspective, Serdang, Malaysia: Universiti Putra Malaysia Press, 2004, ISBN 938-2871-68-9, pp, 184-206.

Skully, M., “Bank Lending and Government Credit Policies" in APEC Secretariat, 2001 APEC Economic Outlook, Singapore: Asia-Pacific Economic Cooperation Secretariat, 2002.

Skully, M., “Banking and Finance, and HRD Needs in the Greater Mekong Region” in Private Sector Perspectives in the Greater Mekong Subregion, United Nations, New York, 2000.