Dr Ian Gregory-Smith

IanSenior Lecturer in Economics

Room 511
9 Mappin Street
S1 4DT, UK

Tel: +44 (0) 114 222 3317
Fax +44 (0)114 222 3458

E-mail: i.gregory-smith@sheffield.ac.uk



PhD, Executive Remuneration and Corporate Governance (2009)
MSc Economics with Merit (2003)
BA Hons Industrial Economics (2002)

Ian graduated from Nottingham University Business School in 2002. He transferred to the Economics Department at Nottingham for his MSc and on completion worked for 2 years as a Research Analyst for Manifest Information Services Ltd. He returned to Nottingham at the offer of a scholarship for a PhD. Towards the end of his PhD he took up the role as a Teaching Fellow and taught courses in the field of microeconomics both in the UK and also at Nottingham Ningbo in China. After completing his PhD, he took up a lectureship at the University of Edinburgh and subsequently joined Sheffield in February 2012. He is currently the Department's Director of Undergraduate Admissions.


"I currently teach Advanced Microeconomics for third year undergraduates. This module provides a rigorous treatment of modern microeconomic theory and is designed to equip students with the skills necessary to succeed as professional economists. We model how agents and firms interact in an uncertain world, where risks are taken and failure is possible. We look at contracting problems that can occur inside firms and analyse how pay incentives are structured. We also analyse how parties solve bargaining problems, cooperatively and non-cooperatively. The course is excellent preparation for graduate level study."

“I also teach Industrial Organisation on the postgraduate programme. We adopt an economic approach to analysing strategic decision making in firms. Beginning with the empirical observation that there is often variation in firm performance within the same industry, we explore why some firms can consistently outperform others, even when competitive forces are intense. An important complication occurs when we consider the role of strategic interdependence; that is when the strategy chosen by our rival will influence our outcome and our strategic response. The material is designed to be especially useful for students, who on completion of their studies, find themselves employed in a managerial programme, a consultancy role or who are looking to establish their own business."

Research summary and PhD student supervision

Ian’s primary research interests concern the executive labour market and related issues associated with gender, corporate governance, executive remuneration and shareholder voting. His work often applies econometric techniques to panel datasets. More recently, Ian's work on the executive labour market has developed to consider the implications for the firm's international strategy on issues such as exporting, hiring, networking, and innovation. He is also interested in how the economics of sport (particularly cricket) can provide insights into the processes by which decisions are made within firms.

Ian’s research has been used to inform policy at HM Treasury and the Department for Business, Energy & Industrial Strategy (formerly Department of Business, Innovation and Skills). Recently, he has made submissions to the BIS’ ‘Executive Remuneration’ and ‘The Future of Narrative Reporting’ Discussion Papers, and the ‘Hutton Review of Fair pay in the Public Sector’. He also engages with corporate governance industry participants such as Manifest Information Services Ltd.

Journal articles

Gregory-Smith I. (forthcoming) `Positive action towards gender equality: Evidence from the Athena SWAN Charter in UK Medical Schools' British Journal of Industrial Relations. Link to on-line appendix.

Cao Y., Gregory-Smith I. and Montagnoli A. (forthcoming) `Transmission of liquidity shocks: Evidence on cross-border bank ownership linkages. Journal of International Financial Markets, Institutions and Money.

Main B. and Gregory-Smith I. (forthcoming) `Symbolic management and the glass cliff. Evidence from the boardroom careers of female and male directors' British Journal of Management. Published on-line January 2017.

Gregory-Smith I. & Main B. (2016) `Testing the participation constraint in the executive labour market' Scottish Journal of Political Economy Vol 63 (4), p399-426.

Sacheti A., Gregory-Smith I. and Paton D. (2016) 'An economic analysis of attendance demand for One Day International cricket' Economic Record. Vol 92 (296), p121-136.

Gregory-Smith I., & Main B. (2015) 'Heads I win, Tails you lose? A career analysis of executive pay and corporate performance' Cambridge Journal of Economics.Vol 39 (5), p1373-1398.

Sacheti A., Gregory-Smith I. and Paton D (2015) `Home Bias in Officiating: Evidence from International Cricket'. Journal of the Royal Statistical Society Series A. Vol 178 (3), p741-755.

Gregory-Smith I., Thompson S. and Wright P (2014) ‘CEO Pay and Voting Dissent Before and After the Crisis’ The Economic Journal, Vol 124 (574), p22-39.

Gregory-Smith I., Main B. G. M. and O'Reilly III C. A. (2014) 'Appointments, Pay and Performance in UK Boardrooms by Gender' The Economic Journal, Vol 124 (574), p109-128.

Sacheti A., Gregory-Smith I. and Paton D. (2014) ‘Managerial Decision Making Under Uncertainty: The Case of Twenty20 Cricket' Journal of Sports Economics, published online 23rd January 2014.

Sacheti A., Gregory-Smith I. and Paton D. (2014) `Uncertainty of outcome or strengths of teams: An economic analysis of attendance demand for international cricket' Applied Economics, Vol 46 (17), p2034-2046.

Gregory-Smith I., (2012) 'CEO Pay and Remuneration Committee Independence'. Oxford Bulletin of Economics and Statistics. Vol 74 (4), p.510-531.

Gregory-Smith I., Thompson S. and Wright P. (2009) ‘Fired or Retired? A Competing Risks analysis of CEO Turnover’ The Economic Journal Vol 119 (536), p.463-481.

Working Papers

Bernini M., Efthyvoulou G., Gregory-Smith I., McHardy J, and Navas A. 'Interlocking Directorships and Patenting Coordination'

Morris D., Gregory-Smith I., Main B., Montagnoli A. & Wright P. `The impact of 'A-day' on executive pensions and pay for performance'.

Gregory-Smith I. & Wright P. ‘Compensation for tournament losers?’