BLR Outstanding Research Award

Glenn Boyle (pictured in about 2010) graduated from the University of Canterbury with an MA in economics in 1982. After a brief stint as a very junior economist at the RBNZ, Glenn was sent into US exile where he obtained a PhD at the University of Texas in 1987 before becoming an assistant professor at Louisiana State University (LSU). Returning to New Zealand in 1991 as professor of finance at Otago, Glenn subsequently had roles as executive director of the NZ Institute for the Study of Competition and Regulation and professor of finance at Canterbury. During an eclectic research career, Glenn wrote on asset pricing, corporate finance, portfolio theory, real estate, executive compensation, banking and horse racing. Eventually tiring of ongoing battles with university administrators, Glenn departed academia in 2017 to focus on his role as director at Sapere Research Group, one of Australasia’s leading expert services firms. He provided “background encouragement” to Martin Lally and Larry Rose prior to the first holding of the NZFC.

Martin Lally received his PhD from Victoria University of Wellington in 1986, and retired Associate Professor in Finance at Victoria University in 2014.  Since 1987, he has also been actively involved in consulting work and is currently principal of Capital Financial Consultants Ltd.  Much of this consulting work involved advice on cost of capital issues to government entities in New Zealand and Australia that regulate the prices charged by natural monopolies.  His early academic work focused on the CAPM, including developing a version of it that is widely used in New Zealand in both the public and private sectors, and accounts for New Zealand’s tax system.  Much of his academic research arose from consulting work, including advice to regulatory bodies, rental rates on ground leases, and the Government Superannuation Scheme.  He is still research active, with recent work involving Public-Private Partnerships, the effect of firm-specific risk on beta, and the estimation of debt betas.  He has also recently taken an interest in Health Economics (most particularly the valuation of lives and the CBA of pandemic lockdowns and vaccine mandates) and also in the application of statistical and financial models to criminal cases.

Larry Rose graduated from Texas A&M University with a Economics Ph.D. in 1985.  His first appointment was in San Jose State University’s Finance Department. After obtaining tenure and promotion in 1992, he moved Toledo University’s Finance Department. His next appointment was at Massey University in 1994 as Chair of the Finance Department. During that time, he built the Finance department at Palmerston North, and enjoyed meeting and getting to know Glenn Boyle and Martin Lally. They decided in 1997 to create the NZ Finance Colloquium to facilitate networking and scholarship within New Zealand.

Larry moved to Massey’s Auckland Campus on the North Shore in late1998 as the chair of the Commerce department, a multidisciplined department which included a Finance discipline, along with Accounting, Economics, Marketing, Communications, Real Estate and Business Law disciplines. He was appointed Pro Vice-Chancellor of the Massey Business School in 2006. While in this role Larry successfully guided Massey to AACSB initial accreditation and subsequently became active with AACSB serving on Initial Accreditation Committees, serving as a mentor and on Initial and Continuing Peer Review Committees for over two dozen universities around the world.

Larry’s final appointment was as Dean of the Jack H. Brown College of Business and Public Administration in 2011 where he retired in July 2021. He is presently enjoying the Washington State Mountain and Sea Views from his home on Whidbey Island.