David Johnstone

David Johnstone is a Professor in the Faculty of Business and Law at the University of Wollongong. He holds a PhD in Economics from the University of Sydney (1985) and undergraduate degrees in Arts (Econometrics) and Commerce (Accounting & Finance) from the University of Wollongong (1980). His career includes academic roles across Australia, New Zealand, and the US, including a Visiting Assistant Professorship at UC Berkeley (1987–1989) and the National Australia Bank Professor of Finance at Sydney (2007–2017). He currently advises the Australian Energy Regulator on electricity pricing and has served as a postdoctoral fellow at Lancaster University (1985–1986).

His research focuses on financial markets, investment strategies, and behavioral finance. Notable works include integrating ESG factors into capital asset pricing models and analyzing the intersection of capital budgeting with Kelly betting strategies. Recent publications address methodological challenges in accounting research, particularly around statistical significance.

Johnstone has secured grants including a 2019 study on gambling products' behavioral impacts (NSW Office of Responsible Gambling) and a 2012 global credit risk forecasting project (Australian Research Council). His consulting spans regulatory agencies, emphasizing energy market economics and financial policy.

While no formal lab affiliations are listed, his work demonstrates cross-disciplinary engagement with economics, statistics, and public policy domains.