Professor Adrian Bell

Research Dean, Prosperity and Resilience

Chair in the History of Finance

Specialisms

History of Finance,
Football Finance

Location

ICMA Centre, Whiteknights Campus

Adrian is Chair in the History of Finance and Research Dean, Prosperity and Resilience.

Adrian is currently developing the impacts emerging from the major AHRC funded project ‘The People of 1381’ (2019-2023), an innovative research project which has produced the most comprehensive interpretation of the Peasants' Revolt to date. To follow its progress visit 1381.online.

He is interested in the History of Finance and recently completed a major project funded by the Leverhulme Trust with Professor Chris Brooks and Dr Helen Killick. The project “The first real estate bubble: Land Prices and Rents in Medieval England c. 1200-1550” ran for three years from 2015. The project builds upon a previous project for Leverhume with Professor Chris Brooks and Dr Tony Moore on medieval foreign exchange. A major project for the ESRC with the same team investigated the early and innovative use of credit finance by a succession of English medieval monarchs (10.5255/UKDA-SN-6880-1) and an earlier ESRC project investigated advance contracts for the supply of wool (10.5255/UKDA-SN-5325-1).

Professor Bell also specialises in the Hundred Years War and his book, War and the Soldier in the Fourteenth Century, was published by Boydell and Brewer in Autumn 2004. In 2006 he was awarded a major grant from the AHRC (jointly with Professor Anne Curry, University of Southampton) to investigate “The Soldier in Later Medieval England” for more details see medievalsoldier.org. The findings are outlined in a major work The Soldier in Later Medieval England, published by Oxford University Press (2013).

Adrian has also appeared on The Unexpected World of Business podcast to discuss football finance.

His working papers are available on SSRN at: http://ssrn.com/author=486048

Professor Bell frequently provides expert comment for media opportunities. Longer articles and blogs are featured in the media section below.

Are English football players overvalued?

Reference: Bell, A. R. , Brooks, C. and Brooks, R. (2023) Are English football players overvalued? Applied Economics. ISSN 1466-4283 doi: https://doi.org/10.1080/00036846.2023.2192032

Henley faculty authors:

Professor Adrian Bell

Venture capital financing in the eSports industry

Reference: Niculaescu, C.-E., Bell, A. R. and Sangiorgi, I. (2023) Venture capital financing in the eSports industry. Research in International Business and Finance, 65. 101951. ISSN 1878-3384 doi: https://doi.org/10.1016/j.ribaf.2023.101951

Henley faculty authors:

Professor Adrian Bell - Dr Ivan Sangiorgi

Does personal experience with COVID-19 impact investment decisions? Evidence from a survey of US retail investors

Reference: Niculescu, C. E., Sangiorgi, I. and Bell, A. R. (2023) Does personal experience with COVID-19 impact investment decisions? Evidence from a survey of US retail investors. International Review of Financial Analysis, 88. 102703. ISSN 1057-5219 doi: https://doi.org/10.1016/j.irfa.2023.102703

Henley faculty authors:

Dr Ivan Sangiorgi - Professor Adrian Bell

The first real estate bubble? Land prices and rents in medieval England c. 1300-1500

Reference: Bell, A. R. , Brooks, C. and Killick, H. (2022) The first real estate bubble? Land prices and rents in medieval England c. 1300-1500. Research in International Business and Finance, 62. 101700. ISSN 0275-5319 doi: https://doi.org/10.1016/j.ribaf.2022.101700

Henley faculty authors:

Professor Adrian Bell

Why have UK universities become more indebted over time?

Reference: Bell, A. R. , Brooks, C. and Urquhart, A. (2022) Why have UK universities become more indebted over time? International Review of Economics and Finance, 82. pp. 771-783. ISSN 1059-0560 doi: https://doi.org/10.1016/j.iref.2022.08.008

Henley faculty authors:

Professor Adrian Bell - Professor Andrew Urquhart

Tomorrow’s fish and chip paper? Slowly incorporated news and the cross-section of stock returns

Reference: Tao, R., Brooks, C. and Bell, A. (2021) Tomorrow’s fish and chip paper? Slowly incorporated news and the cross-section of stock returns. European Journal of Finance, 27 (8). pp. 774-795. ISSN 1466-4364 doi: https://doi.org/10.1080/1351847X.2020.1846575

Henley faculty authors:

Professor Adrian Bell

When is a MAX not the MAX? How news resolves information uncertainty

Reference: Tao, R., Brooks, C. and Bell, A. R. (2020) When is a MAX not the MAX? How news resolves information uncertainty. Journal of Empirical Finance, 57. pp. 33-51. ISSN 0927-5398 doi: https://doi.org/10.1016/j.jempfin.2020.03.002

Henley faculty authors:

Professor Adrian Bell

What can the black death tell us about the global economic consequences of a pandemic?

Reference: Bell, A. R. , Lacey, H. and Prescott, A. (2020) What can the black death tell us about the global economic consequences of a pandemic? In: Billio, M. and Varotto, S. (eds.) A New World Post COVID-19 Lessons for Business, the Finance Industry and Policy Makers. Innovation in Business, Economics & Finance (1). Ca’ Foscari University Press, Venice, pp. 35-42. ISBN 9788869694424 doi: https://doi.org/10.30687/978-88-6969-442-4/002

Henley faculty authors:

Professor Adrian Bell

Financing the Hundred Years War

Reference: Moore, T. and Bell, A. (2019) Financing the Hundred Years War. In: Curry, A. (ed.) The Hundred Years War Revisited. Problems in Focus. Macmillan International Higher Education. ISBN 9781137389862

Henley faculty authors:

Dr Tony Moore - Professor Adrian Bell

Medieval property investors, ca. 1300-1500

Reference: Bell, A. R. , Brooks, C. and Killick, H. (2019) Medieval property investors, ca. 1300-1500. Enterprise and Society, 20 (3). pp. 575-612. ISSN 1467-2235 doi: https://doi.org/10.1017/eso.2018.92

Henley faculty authors:

Professor Adrian Bell Helen Killick

Is there a ‘magic link’ between research activity, professional teaching qualifications and student satisfaction?

Reference: Bell, A. R. and Brooks, C. (2019) Is there a ‘magic link’ between research activity, professional teaching qualifications and student satisfaction? Higher Education Policy, 32 (2). pp. 227-248. ISSN 1740-3863 doi: https://doi.org/10.1057/s41307-018-0081-0

Henley faculty authors:

Professor Adrian Bell

A reappraisal of the freehold property market in late medieval England

Reference: Bell, A. , Brooks, C. and Killick, H. (2019) A reappraisal of the freehold property market in late medieval England. Continuity and Change, 34 (3). pp. 287-313. ISSN 1469-218X doi: https://doi.org/10.1017/S0268416019000316

Henley faculty authors:

Professor Adrian Bell

The organisation and financing of English expeditions to the Baltic during the later Middle Ages

Reference: Bell, A. and Moore, T. (2018) The organisation and financing of English expeditions to the Baltic during the later Middle Ages. In: Baker, G., Lambert, C. and Simpkin, D. (eds.) Military Communities in Late Medieval England, Essays in Honour of Andrew Ayton. Warfare in History. Boydell & Brewer, Woodbridge, Suffolk. ISBN 9781783272983

Henley faculty authors:

Professor Adrian Bell - Dr Tony Moore

What makes students satisfied? A discussion and analysis of the UK’s national student survey

Reference: Bell, A. R. and Brooks, C. (2018) What makes students satisfied? A discussion and analysis of the UK’s national student survey. Journal of Further and Higher Education, 42 (8). pp. 1118-1142. ISSN 1469-9486 doi: https://doi.org/10.1080/0309877X.2017.1349886

Henley faculty authors:

Professor Adrian Bell

The non-use of money in the Middle Ages

Reference: Bell, A. , Brooks, C. and Moore, T. (2017) The non-use of money in the Middle Ages. In: Mayhew, N. (ed.) Peter Spufford's Money and its Use in Medieval Europe - Twenty-five Years On. Royal Numismatic Society Special Publication (52). Royal Numismatic Society, pp. 137-151. ISBN 0901405698

Henley faculty authors:

Professor Adrian Bell - Dr Tony Moore

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Did purchasing power parity hold in medieval Europe?

Reference: Bell, A. R. , Brooks, C. and Moore, T. K. (2017) Did purchasing power parity hold in medieval Europe? The Manchester School, 85 (6). pp. 682-709. ISSN 1467-9957 doi: https://doi.org/10.1111/manc.12167

Henley faculty authors:

Professor Adrian Bell - Dr Tony Moore

Cambium non est mutuum: exchange and interest rates in medieval Europe

Reference: Bell, A. R. , Brooks, C. and Moore, T. K. (2017) Cambium non est mutuum: exchange and interest rates in medieval Europe. The Economic History Review, 70 (2). pp. 373-396. ISSN 1468-0289 doi: https://doi.org/10.1111/ehr.12374

Henley faculty authors:

Professor Adrian Bell - Dr Tony Moore

Fighting merchants

Reference: Gibbs, S. and Bell, A. R. (2016) Fighting merchants. In: Allen, M. and Davies, M. (eds.) Medieval merchants and money: essays in honour of James L. Bolton. Institute of Historical Research, London, pp. 93-112. ISBN 9781909646162

Henley faculty authors:

Professor Adrian Bell Sam Gibbs

Time-varying price discovery in the eighteenth century: empirical evidence from the London and Amsterdam stock markets

Reference: Bell, A. R. , Brooks, C. and Taylor, N. (2016) Time-varying price discovery in the eighteenth century: empirical evidence from the London and Amsterdam stock markets. Cliometrica Journal of Historical Economics and Econometric History, 10 (1). pp. 5-30. ISSN 1863-2505 doi: https://doi.org/10.1007/s11698-014-0120-z

Henley faculty authors:

Professor Adrian Bell Nick Taylor

Le credit au Moyen Age: les prets a la couronne D'Angleterre entre 1272 et 1345

Reference: Bell, A. , Brooks, C. and Moore, T. (2015) Le credit au Moyen Age: les prets a la couronne D'Angleterre entre 1272 et 1345. In: Resources publiques et contstruction étatique en Europe XIII-XVIII siecle, 2-3 July 2012, Colloque organise par l'IGPDE avec l'Université Paris 1 Pantheon-Sorbonne et ses laboratoires (IDHE, LAMOP, EA 127, SAMM) et le laboratoire d'excellence ReFi (heSam), pp. 117-130. (Colloque des 2 et 3 juillet 2012 sous la direction de Katia Beguin)

Henley faculty authors:

Professor Adrian Bell - Dr Tony Moore

The credit relationship between Henry III and merchants of Douai and Ypres, 1247-70

Reference: Bell, A. R. , Brooks, C. and Moore, T. K. (2014) The credit relationship between Henry III and merchants of Douai and Ypres, 1247-70. Economic History Review, 67 (1). pp. 123-145. ISSN 1468-0289 doi: https://doi.org/10.1111/1468-0289.12013

Henley faculty authors:

Professor Adrian Bell - Dr Tony Moore

The soldier in later Medieval England : an online database

Reference: Bell, A. , Curry, A., Chapman, A., King, A. and Simpkin, D. (2013) The soldier in later Medieval England : an online database. In: Villalon, A. L.J. and Kagay, D. J. (eds.) The Hundred Years War (Part III) : further considerations. History of Warfare. Brill, Leiden, pp. 19-48. ISBN 9789004245648

Henley faculty authors:

Professor Adrian Bell Anne Curry- Adam Chapman- Andy King- David Simpkin

The soldier in later medieval England

Reference: Bell, A. R. , Curry, A., King, A. and Simpkin, D. (2013) The soldier in later medieval England. Oxford University Press , Oxford, pp360. ISBN 9780199680825

Henley faculty authors:

Professor Adrian Bell A. Curry- A. King- David Simpkin

Medieval foreign exchange: a time series analysis

Reference: Bell, A. , Brooks, C. and Moore, T. (2013) Medieval foreign exchange: a time series analysis. In: Casson, M. and Hashimzade, N. (eds.) Large Databases in Economic History: Research Methods and Case Studies. Routledge Explorations in Economic History. Routledge, Abingdon, pp. 97-123. ISBN 9780415820684

Henley faculty authors:

Professor Adrian Bell - Dr Tony Moore

Does managerial turnover affect football club share prices?

Reference: Bell, A. , Brooks, C. and Markham, T. (2013) Does managerial turnover affect football club share prices? Aestimatio, the IEB International Journal of Finance, 7. 02-21. ISSN 2173-0164

Henley faculty authors:

Professor Adrian Bell Tom Markham

The performance of football club managers: skill or luck?

Reference: Bell, A. , Brooks, C. and Markham, T. (2013) The performance of football club managers: skill or luck? Economics & Finance Research, 1 (1). pp. 19-30. ISSN 2164-9480 doi: https://doi.org/10.1080/21649480.2013.768829

Henley faculty authors:

Professor Adrian Bell Tom Markham

English members of Philippe de Mézières' Order of the Passion

Reference: Bell, A. (2011) English members of Philippe de Mézières' Order of the Passion. In: Blumenfeld-Kosinski, R. and Petkov, K. (eds.) Philippe de Mézières and his Age: Piety and Politics in the Fourteenth Century. The Medieval Mediterranean (91). Brill. ISBN 9789004211131

Henley faculty authors:

Professor Adrian Bell

The soldier, 'hadde he riden, no man ferre'

Reference: Bell, A. R. (2011) The soldier, 'hadde he riden, no man ferre'. In: Bell, A. R. , Curry, A., Chapman, A., King, A. and Simpkin, D. (eds.) The Soldier Experience in the Fourteenth Century. Warfare in History. Boydell and Brewer, pp. 209-218. ISBN 9781843836742

Henley faculty authors:

Professor Adrian Bell

The Medieval pilgrimage business

Reference: Bell, A. R. and Dale, R. S. (2011) The Medieval pilgrimage business. Enterprise and Society, 12 (3). pp. 601-627. ISSN 1467-2235 doi: https://doi.org/10.1017/S1467222700010235

Henley faculty authors:

Professor Adrian Bell Richard Steele Dale

Over the moon or sick as a parrot? The effects of football results on a club's share price

Reference: Bell, A. R. , Brooks, C. , Matthews, D. and Sutcliffe, C. (2011) Over the moon or sick as a parrot? The effects of football results on a club's share price. Applied Economics, 44 (26). pp. 3435-3452. ISSN 1466-4283 doi: https://doi.org/10.1080/00036846.2011.577017

Henley faculty authors:

Professor Adrian Bell - Professor Charles Sutcliffe David Matthews

Credit finance in thirteenth-century England: the Ricciardi of Lucca and Edward I, 1272-1294

Reference: Bell, A. R. , Brooks, C. and Moore, T. K. (2011) Credit finance in thirteenth-century England: the Ricciardi of Lucca and Edward I, 1272-1294. In: Burton, J., Lachaud, F., Schofield, P., Stöber, K. and Weiler, B. (eds.) Thirteenth-century England XIII: proceedings of the Paris conference, 2009. Thirteenth-century England (13). Boydell and Brewer, Woodbridge, pp. 101-116. ISBN 9781843836186

Henley faculty authors:

Professor Adrian Bell - Dr Tony Moore

Medieval chroniclers as war correspondents during the Hundred Years War: the earl of Arundel's naval campaign of 1387

Reference: Bell, A. R. (2010) Medieval chroniclers as war correspondents during the Hundred Years War: the earl of Arundel's naval campaign of 1387. In: Given-Wilson, C. (ed.) Fourteenth Century England. Fourteenth Century England, VI. Boydell and Brewer, Woodbridge, pp. 171-184. ISBN 9781843835301

Henley faculty authors:

Professor Adrian Bell

Languages in the military profession in later Medieval England

Reference: Curry, A., Bell, A. , Chapman, A., King, A. and Simpkin, D. (2010) Languages in the military profession in later Medieval England. In: Ingham, R. (ed.) The Anglo-Norman language and its contexts. Boydell and Brewer, Woodbridge, pp. 74-93. ISBN 9781903153307

Henley faculty authors:

Professor Adrian Bell Anne Curry- Adam Chapman- Andy King- David Simpkin

Valuing medieval annuities: were corrodies underpriced?

Reference: Bell, A. and Sutcliffe, C. (2010) Valuing medieval annuities: were corrodies underpriced? Explorations in Economic History, 47 (2). pp. 142-157. ISSN 0014-4983 doi: https://doi.org/10.1016/j.eeh.2009.07.002

Henley faculty authors:

Professor Adrian Bell - Professor Charles Sutcliffe

New regime, new army? Henry IV's Scottish expedition of 1400

Reference: Curry, A., Bell, A. R. , King, A. and Simpkin, D. (2010) New regime, new army? Henry IV's Scottish expedition of 1400. The English Historical Review, CXXV (517). pp. 1382-1413. ISSN 0013-8266 doi: https://doi.org/10.1093/ehr/ceq343

Henley faculty authors:

Professor Adrian Bell A. Curry- A. King- David Simpkin

Interest in Medieval accounts: examples from England, 1272-1340

Reference: Bell, A. R. , Brooks, C. and Moore, T. K. (2009) Interest in Medieval accounts: examples from England, 1272-1340. History, 94 (316). pp. 411-433. ISSN 1468-229X doi: https://doi.org/10.1111/j.1468-229X.2009.00464.x

Henley faculty authors:

Professor Adrian Bell - Dr Tony Moore

Accounts of the English Crown with Italian merchant societies, 1272-1345

Reference: Bell, A. , Brooks, C. and Moore, A. (2009) Accounts of the English Crown with Italian merchant societies, 1272-1345. Standard List, 331. The List and Index Society, Kew, pp306. ISBN 9781906875183

Henley faculty authors:

Professor Adrian Bell - Dr Tony Moore

The fourteenth-century soldier: more Chaucer's knight or medieval career?

Reference: Bell, A. R. (2008) The fourteenth-century soldier: more Chaucer's knight or medieval career? In: France, J. (ed.) Mercenaries and Paid Men: the Mercenary Identity in the Middle Ages. History of Warfare (47). Brill, pp. 301-315. ISBN 9789004164475

Henley faculty authors:

Professor Adrian Bell

Interest rates and efficiency in medieval wool forward contracts

Reference: Bell, A. R. , Brooks, C. and Dryburgh, P. R. (2007) Interest rates and efficiency in medieval wool forward contracts. Journal of Banking & Finance, 31 (2). pp. 361-380. ISSN 0378-4266 doi: https://doi.org/10.1016/j.jbankfin.2006.04.006

Henley faculty authors:

Professor Adrian Bell Paul R. Dryburgh

The English wool market, c.1230-1327

Reference: Bell, A. R. , Brooks, C. and Dryburgh, P. R. (2007) The English wool market, c.1230-1327. Cambridge University Press, Cambridge, pp214. ISBN 9780521859417

Henley faculty authors:

Professor Adrian Bell Paul R. Dryburgh

‘Leger est aprendre mes fort est arendre’: wool, debt, and the dispersal of Pipewell Abbey (1280-1330)

Reference: Bell, A. R. , Brooks, C. and Dryburgh, P. R. (2006) ‘Leger est aprendre mes fort est arendre’: wool, debt, and the dispersal of Pipewell Abbey (1280-1330). Journal of Medieval History, 32 (3). pp. 187-211. ISSN 0304-4181 doi: https://doi.org/10.1016/j.jmedhist.2006.07.001

Henley faculty authors:

Professor Adrian Bell Paul R. Dryburgh

Advance contracts for sale of wool c.1200-c.1327

Reference: Bell, A. , Brooks, C. and Dryburgh, P. R. (2006) Advance contracts for sale of wool c.1200-c.1327. List and Index Society, 315. List and Index Society, Kew, pp244.

Henley faculty authors:

Professor Adrian Bell Paul R. Dryburgh

Modern finance in the Middle Ages? Advance contracts with Cistercian abbeys for the supply of wool c. 1270-1330: a summary of findings

Reference: Bell, A. R. , Brooks, C. and Dryburgh, P. (2004) Modern finance in the Middle Ages? Advance contracts with Cistercian abbeys for the supply of wool c. 1270-1330: a summary of findings. Cîteaux: Commentarii cistercienses, 55 (3-4). pp. 339-343. ISSN 0009-7497

Henley faculty authors:

Professor Adrian Bell Paul Dryburgh

War and the soldier in the fourteenth century

Reference: Bell, A. R. (2004) War and the soldier in the fourteenth century. Warfare in history. Boydell & Brewer, Woodbridge, pp256. ISBN 9781843831037

Henley faculty authors:

Professor Adrian Bell

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Specialisms

History of Finance
Football Finance

Location

ICMA Centre, Whiteknights Campus

Professor Adrian Bell

Research Dean, Prosperity and Resilience

Specialisms

Location

Publications Open

Are English football players overvalued?

Henley faculty authors:

Venture capital financing in the eSports industry

Henley faculty authors:

Does personal experience with COVID-19 impact investment decisions? Evidence from a survey of US retail investors

Henley faculty authors:

The first real estate bubble? Land prices and rents in medieval England c. 1300-1500

Henley faculty authors:

Why have UK universities become more indebted over time?

Henley faculty authors:

Tomorrow’s fish and chip paper? Slowly incorporated news and the cross-section of stock returns

Henley faculty authors:

When is a MAX not the MAX? How news resolves information uncertainty

Henley faculty authors:

What can the black death tell us about the global economic consequences of a pandemic?

Henley faculty authors:

Financing the Hundred Years War

Henley faculty authors:

Medieval property investors, ca. 1300-1500

Henley faculty authors:

Is there a ‘magic link’ between research activity, professional teaching qualifications and student satisfaction?

Henley faculty authors:

A reappraisal of the freehold property market in late medieval England

Henley faculty authors:

The organisation and financing of English expeditions to the Baltic during the later Middle Ages

Henley faculty authors:

What makes students satisfied? A discussion and analysis of the UK’s national student survey

Henley faculty authors:

The non-use of money in the Middle Ages

Henley faculty authors:

Did purchasing power parity hold in medieval Europe?

Henley faculty authors:

Cambium non est mutuum: exchange and interest rates in medieval Europe

Henley faculty authors:

Fighting merchants

Henley faculty authors:

Time-varying price discovery in the eighteenth century: empirical evidence from the London and Amsterdam stock markets

Henley faculty authors:

Le credit au Moyen Age: les prets a la couronne D'Angleterre entre 1272 et 1345

Henley faculty authors:

The credit relationship between Henry III and merchants of Douai and Ypres, 1247-70

Henley faculty authors:

The soldier in later Medieval England : an online database

Henley faculty authors:

The soldier in later medieval England

Henley faculty authors:

Medieval foreign exchange: a time series analysis

Henley faculty authors:

Does managerial turnover affect football club share prices?

Henley faculty authors:

The performance of football club managers: skill or luck?

Henley faculty authors:

English members of Philippe de Mézières' Order of the Passion

Henley faculty authors:

The soldier, 'hadde he riden, no man ferre'

Henley faculty authors:

The Medieval pilgrimage business

Henley faculty authors:

Over the moon or sick as a parrot? The effects of football results on a club's share price

Henley faculty authors:

Credit finance in thirteenth-century England: the Ricciardi of Lucca and Edward I, 1272-1294

Henley faculty authors:

Medieval chroniclers as war correspondents during the Hundred Years War: the earl of Arundel's naval campaign of 1387

Henley faculty authors:

Languages in the military profession in later Medieval England

Henley faculty authors:

Valuing medieval annuities: were corrodies underpriced?

Henley faculty authors:

New regime, new army? Henry IV's Scottish expedition of 1400

Henley faculty authors:

Interest in Medieval accounts: examples from England, 1272-1340

Henley faculty authors:

Accounts of the English Crown with Italian merchant societies, 1272-1345

Henley faculty authors:

The fourteenth-century soldier: more Chaucer's knight or medieval career?