School of Business and Management

Professor William Forbes


Teaching Fellow in Finance

Room Number: Bancroft Building, Mile End campus


Professor William Forbes was born in Birmingham and attended Keele, Birmingham, Warwick and Newcastle Universities. Later he taught accounting and finance at Exeter, Bangor, Manchester, Glasgow and Loughborough University. He currently teaches part-time at Groningen University in the Netherlands and University College London as well as Queen Mary University of London. His primary research interests are in behavioural finance and market-based accounting and corporate governance. He is a co-ordinator of the Behavioural Finance Working Group with Professor Gulnur Morodoglu in the School of Business and Management.  

Undergraduate Teaching

  • International Corporate Reporting (BUS224)


Research Interests:

  • Behavioural finance
  • Corporate governance
  • Market-based accounting

My primary research interest is in Behavioural Finance and I have worked on various aspects of that theme for some years. Currently I am working actively on Gerd Gigerenzer’s concept of “fast and frugal reasoning” and various applications of that idea in accounting and finance, factor pricing, earnings management and contrarian trading strategies.  

Research centres and groups

Behavioural Finance Working Group
British Accounting and Finance Association


Journal articles

Are financial analysts eager postmen of bubble psychology? by William Forbes, Aine Murphy, Cormac O'Keefe, Chen Su.

Review of  'Behavioral Risk Management: Managing the Psychology That Drives Decisions and Influences Operational Risk. by Hersh Shrefrin, forthcoming, Journal of Risk Finance, 17:3, 2016.

Which heuristics can aid Financial-decision-making? with Robert Hudson, Mona Soufian Len Skerratt, International Review of Financial Analysis, Vol 42, December, 2015, pp 199-210.

Greek evidence on post-earnings announcement drift. with George Yiannopoulos, Review of Pacific Basin Studies Financial Markets and Policies, December, 2015, Vol. 18 Issue 3, p-1. 20.

The explanatory power of representative agent models of earnings momentum. with Aloysius Igboekwu Review of Quantitative Finance and Accounting, April 2015, Volume 44, Issue 3, p.473-492.

The Politics and Paradigms of Financial regulation during the Financial crisis: Evidence from Germany, Ireland and the UK. with Sheila O'Donoghue, Journal of Risk Finance, Vol. 16, Number 3, p 284 -302.


Forbes, W, Behavioural Finance, Wiley (2009) Forbes, William, and Lynn Hodgkinson. Corporate Governance in the United Kingdom: Past, Present and Future. Springer, (2014).

Forbes, W., Igboekwu, A. and Mousavi, S. (2018). Fast and Frugal Finance: Bridging Contemporary Behavioural Finance and Ecological Rationality. Elsevier Academic Press.