Howard Jones

Howard Jones

Associate Professor of Finance

Saïd Business School
University of Oxford
Park End Street


Howard Jones is an Associate Professor of Finance at Saïd Business School, University of Oxford and a Fellow of Keble College, Oxford.

Howard joined Saїd Business School in 2003 after a 15-year career in investment banking. He had previously worked at Deutsche Bank and at BNP Paribas, where he was worldwide head of equity capital markets, responsible for all equity capital raising.

Earlier in his career Howard worked in debt capital markets and fixed income trading. A graduate of the University of Oxford, Howard has a PhD in linguistics from the University of London.


  • Initial public offerings
  • Investment banks
  • Institutional asset management
  • Private equity


Howard researches two main areas:

  1. initial public offerings (IPOs)
  2. investment advice

His IPO research is concerned with the conflicts of interest between investment banks, investors and companies, and the effect of these conflicts on IPO outcomes. Howard’s research into investment advice deals with fund and stock recommendations. 


Measuring the added value of stock recommendations(opens in new window)

Journal article  |  Journal of Financial and Quantitative Analysis  | 
  • A Anderson,
  • Howard Jones,
  • JV Martinez

Quid pro quo? What factors influence IPO allocations to investors?(opens in new window)

Journal article  |  Journal of Finance  | 
  • Timothy Jenkinson,
  • Howard Jones,
  • Felix Suntheim

Institutional investor expectations, manager performance, and fund flows(opens in new window)

Journal article  |  Journal of Financial and Quantitative Analysis  | 
  • Howard Jones,
  • Jose Vicente Martinez
  • Tim Jenkinson,
  • Howard Jones,
  • Jose Vicente Martinez

Why Don't U.S. Issuers Demand European Fees for IPOs?(opens in new window)

Journal article  |  JOURNAL OF FINANCE  | 
  • Mark Abrahamson,
  • Tim Jenkinson,
  • Howard Jones
See more publications


Howard has authored articles in the financial press and industry publications.

This has included articles in the Financial Times, The Wall Street Journal, Börsen-Zeitung, International Financing Review, and Professional Investor.

Howard’s interest in pension funds reflects his own experience as both a pension fund trustee and as an independent adviser to trustees. From 2004-11 he acted as Independent Adviser to the Trustees of The London Borough of Haringey Pension Fund.

On the policy side, Howard has served on a European Commission experts’ panel examining the role of investment analysts.



Howard’s teaching includes core finance courses and specialist courses on capital raising and market microstructure.

Howard currently teaches:

  • MBA (Business Finance)