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Thong Dao

Lecturer/Senior Lecturer

Nottingham Business School

Staff Group(s)
Department of Accounting and Finance


Thong Dao is a Lecturer in Accounting and Finance at Nottingham Business School, Nottingham Trent University. As a member of the Accounting and Finance Research Group, he is committed to doing and publishing excellent research, both independently and collaboratively. He is keen on working with other researchers (including PhD students) with similar interests. He is also involved in teaching Finance, one of the subjects where NTU is ranked among the top UK universities.

Career overview

Before joining NTU, Thong did a PhD in Finance funded by the University of Southampton, where he had previously obtained an MSc (Distinction) in International Financial Markets. He has also had experience in trading financial markets.

Research areas

Since his PhD, Thong has been publishing regularly in high-quality academic journals such as Quantitative Finance or the Journal of International Financial Markets, Institutions and Money. Some of his research interests include:

  • Price discovery and market efficiency
  • Asset pricing, mispricing and arbitrage
  • Lead-lag effects and forecasting
  • Market linkages and transmission effects
  • High-frequency financial markets
  • Algorithmic trading and technical rules
  • Investment and portfolio management
  • Behavioural finance and financial crises
  • Sport betting and gambling

External activity

Thong has presented his research at highly regarded international conferences such as INFINITI and Forecasting Financial Markets. Thong has also reviewed papers for reputable journals including Journal of Banking and Finance, Quantitative Finance and more.


Dao, T.M., McGroarty, F. and Urquhart, A., 2018. The Brexit vote and currency markets. Journal of International Financial Markets, Institutions and Money (in press).

Dao, T.M., McGroarty, F. and Urquhart, A., 2017. Ultra-high-frequency lead-lag relationship and information arrival. Quantitative Finance, 18, pp.725-735.

Dao, T.M., McGroarty, F. and Urquhart, A., 2016. A calendar effect: Weekend overreaction (and subsequent reversal) in spot FX rates. Journal of Multinational Financial Management, 37, pp.158-167.

See all of Thong Dao's publications...