Reza Bradrania

Teaching Strengths

Research Methods in Finance
Corporate Finance
Investments and Portfolio Management
Econometrics
Finance Theory

Dr Reza Bradrania

Senior Lecturer

School of Accounting and Finance

College of Business and Law

Eligible to supervise Masters and PhD - email supervisor to discuss availability.

Available For Media Comment.


Reza Bradrania is a Senior Lecturer in Finance and a member of the Centre for Markets, Values and Inclusion (CMVI) at the University of South Australia Business School. 
He holds a PhD in Finance from the University of Sydney and an MSc in Finance and Investment from the University of Durham (UK). 
Reza’s research focuses on empirical asset pricing and investment, with current interests in the application of machine learning in investment strategies and the implications of gambling behaviour in financial markets. His work has been published in leading international peer-reviewed finance journals and featured in prominent media outlets including Science Magazine, Al Jazeera, and The Australian, among others. 
His research has attracted external funding from organisations such as the Chartered Institute of Management Accountants (CIMA) in the UK, the Accounting and Finance Association of Australia and New Zealand (AFAANZ), and the Centre for International Finance and Regulation (CIFR). He serves on the editorial boards of the Global Finance Journal (Elsevier, Q1) and Humanities & Social Sciences Communications (Springer Nature, Q1), and has been a program committee member for several national and international conferences.
Reza’s primary teaching areas include Investments and Portfolio Management and Applied Research in Finance. He engages students with industry-relevant issues and encourages the application of theory to real-world scenarios. He has received multiple awards for innovation and excellence in teaching at both undergraduate and postgraduate levels, from the University of South Australia and the University of Sydney.
He is the co-founder of the Trading Lab at UniSA Business and has served on various university committees, including the Business School Research Committee and the Resource Committee of the Centre for Applied Finance and Economics. From 2020 to 2023, he was the Program Director for Economics, Finance, and Property programs, overseeing both online and on-campus delivery. He has also led negotiations and contracts for several research and teaching databases, including IRESS.
Before joining UniSA, Reza held academic and research roles at the University of Sydney. He also worked for several years as an Associate Director, Director, and Senior Consultant in investment banking, private equity, and management consulting. Earlier in his career, he co-founded and managed a start-up, which was successfully acquired three years after its inception.

Empirical Asset Pricing, Machine Learning, Investments, Liquidity and Capital Markets, Gambling in Financial Markets

Year Citation
2025 Pirayesh Neghab, D., Moradi, M., Cevik, M., & Bradrania, R. (2025). ESG-based index tracking with portfolio policy. Journal of Cleaner Production, 492(144880), 1-15.
DOI
2025 Bradrania, R., Veron, J. F., & Wu, W. (2025). Investor behavior and the beta anomaly: who benefits from betting against beta?. Economics Letters, online, 1-19.
DOI
2024 Bradrania, R., & Gao, Y. (2024). Lottery demand, weather and the cross-section of stock returns. Journal of Behavioral and Experimental Finance, 42(100910), 1-15.
DOI Scopus3 WoS3
2024 Gao, Y., & Bradrania, R. (2024). Property crime and lottery-related anomalies. Global Finance Journal, 59(100927), 1-24.
DOI Scopus1 WoS1
2023 Bradrania, R., Veron, J. F., & Wu, W. (2023). The beta anomaly and the quality effect in international stock markets. Journal of Behavioral and Experimental Finance, 38(100808), 1-18.
DOI
2023 Bradrania, R., & Wu, W. (2023). Foreign institutions, local investors and momentum trading. Journal of Empirical Finance, 73, 40-64.
DOI WoS5
2023 Bradrania, R., Prodromou, T., & Joakim Westerholm, P. (2023). Director trades, profitability and market efficiency: new evidence. Journal of Economic Criminology, 1, 1-15.
DOI
2023 Neghab, D. P., Bradrania, R., & Elliott, R. (2023). Deliberate premarket underpricing: new evidence on IPO pricing using machine learning. International Review of Economics & Finance, 88, 902-927.
DOI
2022 Bradrania, R., Elliott, R., & Wu, W. (2022). Institutional ownership and liquidity commonality: evidence from Australia. Accounting and Finance, 62(S1), 1231-1272.
DOI WoS4
2022 Bradrania, R., & Neghab, D. P. (2022). State-dependent asset allocation using neural networks. European Journal of Finance, 28(11), 1130-1156.
DOI
2022 Bradrania, R., & Veron, J. F. (2022). The beta anomaly in the Australian stock market and the lottery demand. Pacific Basin Finance Journal, 77(101903), 1-23.
DOI
2022 Bradrania, R., Pirayesh Neghab, D., & Shafizadeh, M. (2022). State-dependent stock selection in index tracking: a machine learning approach. Financial Markets and Portfolio Management, 36(1), 1-28.
DOI
2018 Elliott, R. J., & Bradrania, R. (2018). Estimating a regime switching pairs trading model. Quantitative finance, 18(5), 877-883.
DOI
2017 Bradrania, R., Grant, A., Westerholm, P. J., & Wu, W. (2017). Fool's mate: what does CHESS tell us about individual investor trading performance?. Journal of accounting and finance, 57(4), 981-1017.
DOI WoS10
2016 Bradrania, R., Westerholm, P. J., & Yeoh, J. (2016). Do CEOs who trade shares adopt more aggressive corporate investment strategies?. Pacific-basin finance journal, 40(B), 349-366.
DOI
2015 Bradrania, R. M., Peat, M., & Satchell, S. (2015). Liquidity costs, idiosyncratic volatility and expected stock returns. International review of financial analysis, 42, 394-406.
DOI
2014 Bradrania, R. M., & Peat, M. (2014). Characteristic liquidity, systematic liquidity and expected returns. Journal of international financial markets, institutions & money, 33(1), 78-98.
DOI
2013 Baradarannia, M. R., & Peat, M. (2013). Liquidity and expected returns-Evidence from 1926-2008. International review of financial analysis, 29, 10-23.
DOI
  • Blockchain and AI in the Italian and Australian wine industry, Chartered Institute of Management Accountants - Research Grant, 01/02/2020 - 30/06/2021

  • AFAANZ - Asymmetric Risk and Expected Corporate Bond Returns, Accounting And Finance Association of Australia And New Zealand Limited, 01/06/2017 - 30/03/2019

Courses I teach

  • BANK 3004 Portfolio and Fund Management (2025)
  • BANK 5013 Investment Management (2025)
  • BANK 3004 Portfolio and Fund Management (2024)
  • BANK 5013 Investment Management (2024)

Programs I'm associated with

  • DMFC - Master of Finance

Connect With Me

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