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Dr Renatas Kizys

Faculty Research Degrees Coordinator, Reader in Finance

Renatas Kizys


I am a Senior Lecturer in Economics and Finance at the University of Portsmouth. I hold a BA and MA in Economics (Vilnius University, Lithuania) and a Ph.D in Economics (University of Alicante, Spain). I also participated in the Advanced Studies Program in International Economic Policy Research at the Kiel Institute for the World Economy, Germany, where I was awarded Advanced Studies Certificate.

Prior to joining University of Portsmouth, I spent 3,5 years working as an Assistant Professor at Instituto Tecnologico y de Estudios Superiores de Monterrey (ITESM), Campus Monterrey (Mexico). I was also a P.K. Woolley Research Fellow in the Department of Economics and Related Studies at University of York, UK.

My research interests centre on asset pricing, financial markets and the macroeconomy, international financial integration, exchange-rate macroeconomics and macroeconomics of speculative bubbles.

Research Interests

My research is confined, but not limited, to the areas of Financial Economics and Macroeconomics.  Research interests include: Asset Pricing, Financial Markets and the Macroeconomy, International Financial Integration, and Exchange-Rate Macroeconomics. My research (i) deals with sources of exchange rate exposure, (ii) studies equity risk premium, (iii) uses the stochastic-discount-factor approach to asset valuation, (iv) investigates the relation between realized portfolio betas and the business cycle, (v) analyses economic and institutional determinants of the prevalence of speculative bubbles in international stock markets, (vi) examines financial integration by decomposing actual stock prices into speculative bubbles and fundamentals, (vii) examines the relation between business cycle fluctuations and international equity correlations, (viii) studies the determinants of credit default swaps spreads and (ix) researches into the relation between trade credit management and the level of credit default risk in small and medium enterprises.

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