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Professor Robert Powell

Professor of Finance

Staff Member Details
Telephone: +61 8 6304 2439
Campus: Joondalup  
Room: JO2.444  

Robert Powell is a Professor of Finance in the School of Business and Law.

Key Research Areas

  • Credit Risk
  • Market Risk
  • Value at Risk
  • Conditional Value at Risk
  • Banking
  • The Global Financial Crisis


Before joining Edith Cowan University, Robert has had a long association with the banking industry. He has worked in the industry for twenty years, in South Africa, New Zealand and Australia, in the areas of credit risk management, relationship management, workplace training, and in the development and implementation of credit and financial analysis models. One of Robert’s biggest achievements is undertaking a PhD at ECU in the development and application of value-at-risk models for measuring credit and market risk in Australia. He found that the teaching quality throughout his study was outstanding, which is what lead him to join as a staff member in 2007. At ECU he has been teaching and researching in banking finance. Robert has a passion for teaching and enjoys seeing his students succeed.

Other career highlights include; becoming a recipient of an Australian national citation for his teaching efforts and focusing his research in the area of banking and credit risk, across a wide variety of countries.

Theme Two: Society and Culture: Individual, economic, organisational, political and social transformation

2019 - Vice Chancellor’s Staff Excellence Award: Citation for Sustained Commitment to Enhancing Diversity, Equity and Inclusion.

2017 - Highest Impact Publication Award. School of Business & Law

2016 - Mentorship in Research Award. School of Business & Law

2015 - Faculty of Business and Law. Dean's award for excellence in research

2015 - Australian award for university teaching: Citation for outstanding contributions to student learning

2014 - Deputy Vice-Chancellor’s Certificate of Excellence for Research

2012 - Vice-Chancellor's Award for Excellence in Teaching

2012 - Deputy Vice-Chancellor's Award for Achievements in Publishing Research Outputs

2012 - Faculty of Business and Law, Dean's Honour Roll for Top Researchers

2011 - Faculty of Business and Law, Dean's Award for Postgraduate Teaching Excellence

2011 - Award for Outstanding Lecturing, School of Accounting, Finance and Economics

2011 - Award for Outstanding Research, School of Accounting, Finance and Economics

2010 - Award for Outstanding Engagement, School of Accounting, Finance and Economics

2010 - Deputy Vice-Chancellor Award for Receipt of Grant Funding

2010 - Faculty of Business & Law Research Award

  • Editorial Board of the Small Business Research Journal, Board Member
  • Financial Services in Australia (FINSIA), Fellow Member
  • Financial Research Network (FIRN), Member


  • DOCTOR OF PHILOSOPHY, Edith Cowan University, 2008.
  • Master of Commerce, South Africa, 1994.
  • Bachelor of Commerce with Honours, South Africa, 1985.
  • Bachelor of Commerce, South Africa, 1984.


Recent Research Grants

  • Understanding the social and economic contributions made by Western Australian leisure centres. ,  Edith Cowan University,  ECU Industry Collaboration Grant - 2017 Open Round,  2018 - 2019,  $101,899.
  • The economic and social impacts of contemporary music in Western Australia (WAM project),  Edith Cowan University,  ECU Capability Enhancement Scheme - 2015 or earlier,  2015 - 2016,  $28,410.
  • New methods for modelling and forecasting risk,  Australian Research Council,  Grant - Discovery Projects,  2011 - 2015,  $961,079.
  • Modelling Multivariate Dependence Between Realized Volatilities Using Vine Copula Methods,  Edith Cowan University,  ECU Early Career Researcher Grant - 2013,  2013 - 2014,  $5,000.
  • Modelling Extreme Credit Risk Using Quantile Regressions,  Edith Cowan University,  ECU Early Career Researcher - Grant,  2010 - 2011,  $14,045.

Recent Publications (within the last five years)

Book Chapters

  • Allen, D., Powell, R., Singh, AK., (2015), A Critique of Credit Risk Models with Evidence from Mid-Cap Firms. Quantitative Financial Risk Management: Theory and Practice, 296-311, Hoboken, John Wiley & Sons, DOI: 10.1002/9781119080305.

Journal Articles

  • Powell, R., Vo, D., (2020), A comprehensive stability indicator for banks. Risks, 8(1), Article number 13, DOI:
  • Stanway, A., Powell, R., Fradd, L., Sibson, R., (2020), Well-being, social and economic value of aquatic and leisure centres: a holistic model. Annals of leisure research, 2020(Article in press), 1-20, United Kingdom, DOI: 10.1080/11745398.2020.1787183.
  • Powell, R., Vo, DH., Pham, T., (2019), Cattle as a consistently resilient agricultural commodity. Applied Economics, 51(55), 5911-5922, DOI: 10.1080/00036846.2019.1631441.
  • Do, A., Powell, R., Yong, J., Singh, A., (2019), Time-varying asymmetric volatility spillover between global markets and China’s A, B and H-shares using EGARCH and DCC-EGARCH models. The North American Journal of Economics and Finance, 2019(Article in press), 1-26, DOI:
  • Powell, R., Vo, DH., Pham, TN., (2018), Economic Cycles and Downside Commodities Risk. Applied Economics Letters, 25(4), 258-263, Oxon, United Kingdom, Routledge, DOI: 10.1080/13504851.2017.1316818.
  • Golab, A., Jie, F., Powell, R., Zamojska, A., (2018), Cointegration between the European Union and the selected global markets following Sovereign Debt Crisis. Investment Management and Financial Innovations, 15(1), 14, Sumy, Ukraine, LLC “СPС “Business Perspectives”, DOI: 10.21511/imfi.15(1).2018.05.
  • Powell, R., Vo, D., Pham, T., (2018), Do Nonparametric Measures of Extreme Equity Risk Change the Parametric Ordinal Ranking? Evidence from Asia. Risks, 6(4), article no.121, DOI: 10.3390/risks6040121.
  • Allen, D., McAleer, M., Powell, R., Singh, AK., (2017), Volatility Spillover and Multivariate Volatility Impulse Response Analysis of GFC News Events. Applied Economics, 49(33), 3246-3262, Routledge, DOI: 10.1080/00036846.2016.1257210.
  • Allen, D., McAleer, M., Powell, R., Singh, AK., (2017), Volatility Spillovers from Australia's Major Trading Partners Across the GFC. International Review of Economics and Finance, 47(1 January 2017), 159-175, Elsevier, DOI: 10.1016/j.iref.2016.10.007.
  • Powell, R., (2017), New Perspectives on Bank Risk in Malaysia. Cogent Economics and Finance, 5(1), Article no.1326217, DOI: 10.1080/23322039.2017.1326217.
  • Singh, AK., Powell, R., Allen, D., (2017), Tail dependence analysis of stock markets using extreme value theory. Applied Economics, 49(45), 4588-4599, Taylor & Francis, DOI: 10.1080/00036846.2017.1287858.
  • Powell, R., Vo, D., Pham, T., Singh, AK., (2017), A dataset on tail risk of commodities markets. Data in Brief, 15(2017), 58-62, DOI: 10.1016/j.dib.2017.09.005.
  • Powell, R., Vo, DH., Pham, T., Singh, AK., (2017), The long and short of commodity tails and their relationship to Asian equity markets. Journal of Asian Economics, 52(October 2017), 32-44, Amsterdam, Netherlands, Elsevier BV, DOI: 10.1016/j.asieco.2017.08.001.
  • Powell, R., Ryan, M., Lamb, S., (2017), The impact of the mining boom on the dining industry in Western Australia. Australasian Journal of Regional Studies, 23(2), 243-260, Darling Heights, Queensland, Regional Science Association.
  • Allen, D., McAleer, M., Powell, R., Singh, AK., (2016), Down-Side Risk Metrics as Portfolio Diversification Strategies across the Global Financial Crisis. Journal of Risk and Financial Management, 9(2), 18p., MDPI, DOI: 10.3390/jrfm9020006.
  • Allen, DE., McAleer, M., Powell, R., Singh, AK., (2016), A capital adequacy buffer model. Applied Economics Letters, 23(3), 175-179, Abingdon, Oxon, United Kingdom, Routledge, DOI: 10.1080/13504851.2015.1061639.
  • Allen, DE., Powell, R., Singh, AK., (2016), Take it to the limit: Innovative CVaR applications to extreme credit risk measurement. European Journal of Operational Research, 249(2), 465-475, Elsevier, DOI: 10.1016/j.ejor.2014.12.017.
  • Powell, R., (2015), Malaysian Equities: A Sector Analysis Of Risk And Normality. International Journal of Management and Applied Science, 1(8), 86-91, Bhubaneswar, Odisha, India, Institute of Research and Journals.
  • Powell, R., (2015), Australian Mining Industry: Credit and Market Tail Risk During a Crisis Period. International Journal of Management and Applied Science, 1(8), 159-163, Bhubaneswar, Odisha, India, Institute of Research and Journals.

Conference Publications

  • Bannigidadmath, D., Powell, R., (2019), The effectiveness of climate change models in measuring financial risk. The Proceedings of 3rd Business Doctoral and Emerging Scholars Conference, 1(29-30 November 2018), 10-14, Online, Edith Cowan University.
  • Do, A., Powell, R., Singh, A., Yong, J., (2019), When did the Global Financial Crisis start and end?. The proceedings of the 3rd Business Doctoral and Emerging Scholars Conference, 21-25, Perth, Western Australia, Edith Cowan University.
  • Do, A., Powell, R., Singh, AK., Yong, J., (2018), Cross-equity linkages between China and the U.S.: An application of GARCH-M-GED., 40-48.
  • Nguyen, TT., Powell, R., Golab, A., Bannigidadmath, D., (2018), Analysis of approaches to the relationship between risk and bank diversification. The proceedings of 3rd Business Doctoral and Emerging Scholars Conference, 26-30, Perth, Western Australia, Edith Cowan University.
  • Lavagna-Slater, S., Powell, R., (2018), Behavioural underwriting using non-traditional data sources: Evidence from stokvels. The proceedings of 3rd Business Doctoral and Emerging Scholars Conference, 4-9, Perth, Western Australia, Edith Cowan University.
  • Dinh, D., Powell, R., Vo, D., (2016), Comparing Market-Based and Accounting-Based Credit Models: A Survey of the Theoretical Literature. Proceedings of the ECU Business Doctoral and Emerging Scholars Colloquium, 68-76, Perth, Australia, Edith Cowan University.
  • Do, A., Powell, R., Singh, AK., Yong, J., (2016), Selection of a Model for Exploring Cross Market Linkages: A Review of E-GARCH, Markov-switching Framework and Structural Break Models. Proceedings of the ECU Business Doctoral and Emerging Scholars Colloquium, 1-11, Perth, Australia, Edith Cowan University.
  • Allen, D., Powell, R., Singh, AK., (2015), Quantile regression, VaR and CVAR. An empirical beta comparison of the techniques in relation to credit risk. MODSIM2015, 21st International Congress on Modelling and Simulation, 1015-1021, Australia, Modelling and Simulation Society of Australia and New Zealand.
  • Akyuwen, R., Boffey, R., Powell, R., Wijaya, K., (2015), Thoughts on extreme risk in Indonesia. A New Paradigm for International Business: Proceedings of the Conference on Free Trade Agreements and Regional Integration in East Asia, 213-226, Springer, DOI: 10.1007/978-981-287-499-3_11.
  • Allen, DE., McAleer, M., Powell, R., Singh, AK., (2015), A volatility impulse response analysis applying multivariate GARCH models and news events around the GFC. MODSIM2015, 21st International Congress on Modelling and Simulation, 1008-1014, Australia, Modelling and Simulation Society of Australia and New Zealand.


  • Powell, R., Ryan, M., Lambert, C., Cooper, T., Giles, M., Hope, C., (2016), Report for WA Music: Preliminary Economic Impact of the Music Industry in WA., Joondalup, WA, Edith Cowan University.

Research Student Supervision

Principal Supervisor

  • Doctor of Philosophy,  Modelling cross-market linkages between global markets and China’s A-, B- and H-shares
  • Doctor of Philosophy,  New capital structure models: Thai bank evidence
  • Doctor of Philosophy,  Vine copula modelling of dependence and portfolio optimization with applications to the mining and energy stock return series from the Australian market
  • Doctor of Philosophy,  Prediction models of corporate financial distress in the southeast Asian countries

Co-principal Supervisor

  • Doctor of Philosophy,  Empirical market microstructure studies of the Indonesian stock exchange (idx)
  • Doctor of Philosophy,  An investigation into the volatility and cointegration of emerging european stock markets.

Associate Supervisor

  • Doctor of Philosophy,  The profitability of technical analysis and stock returns from a traditional and bootstrap perspective: Evidence from Australia, Hong Kong, Malaysia and Thailand.
  • Doctor of Philosophy,  Modelling extreme market risk - a study of tail related risk measures
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