Dr Hardjo Koerniadi

Staff Profile Image of Hardjo Koerniadi

Senior Lecturer, Paper coordinator of Entrepreneurial and Small Business Finance paper

Phone: + 64 9 921 9999 ext 5042

Email: hardjo.koerniadi@aut.ac.nz


  •     PhD in Finance
  •     Master of Management Studies (Hons)
  •     Bachelor of Economics

Memberships and Affiliations:

Editorial Board: Associate Editor of International Review of Business Research (IRBRP)

Teaching Areas:

Teaching responsibility: BBus (Finance)
    Entrepreneurial and Small Business Finance
    Corporate Finance
    Banking and Financial Institutions
    Business Information Management
    Fundamental of Finance

Research Areas:

  •     Share repurchases
  •     Mergers and acquisitions

Research Summary:

Dr. Hardjo Koerniadi obtained his Master’s degree in Finance from the University of Waikato, New Zealand in 2004. In January 2005, he was the sole recipient of the inaugural New Zealand International Doctoral Research Scholarship (NZIDRS) in Commerce/Business category to conduct his PhD research at AUT. Hardjo joined the Finance department at AUT after completing his PhD in March 2008. His research findings have been published in several international journals. Hardjo has been the Associate Editor of International Review of Business Research Papers (IRBRP) since 2014.

Current Research Projects:


  • Koerniadi, H., Krishnamurti, C., & Tourani-Rad, A. (2015). Natural disasters - Blessings in disguise? Singapore Economic Review. Advance online publication. doi:10.1142/S021759081640004X   
  •  Koerniadi, H., Krishnamurti, C., & Tourani-Rad, A. (2015). Cross-border mergers and acquisitions and default risk. International Review of Financial Analysis 42, 336-348. doi:10.1016/j.irfa.2015.08.009 
  • Koerniadi, H., Krishnamurti, C., Lau, S. T., Tourani-Rad, A., & Yang, T. (2015). The role of internal and external certification mechanisms in seasoned equity offerings. Journal of Multinational Financial Management 30, 110-127. 
  • Koerniadi, H., Krishnamurti, C., & Tourani-Rad, A. (2014). Corporate governance and risk-taking in New Zealand. Australian Journal of Management, 39(2), 227-245. doi:10.1177/0312896213478332
  • Koerniadi, H., Krishnamurti, C., & Tourani Rad, A. (2014). Corporate governance and the variability of stock returns. International Journal of Managerial Finance, 10(4), 494-510.
  • Koerniadi, H., & Tourani-Rad, A. (2014). Corporate governance, financing patterns and the cost of capital: evidence from New Zealand companies. International Journal of Economics and Business Research, 8(3), 324-339.
  • Koerniadi, H. (2013). Impact of corporate governance on financial practices of New Zealand companies. Applied Finance Letters, 2(2), 12-17.
  • Koerniadi, H., & Tourani-Rad, A. (2012). Does board independence matter? Evidence from New Zealand. Australian Accounting Business & Finance Journal, 6(2), 3-18.
  • Koerniadi, H., & Tourani-Rad, A. (2011). The role of accruals as a signal in earnings and dividend announcements: New Zealand evidence. Journal of Applied Accounting Research, 12(2), 108-122.
  • Koerniadi, H., & Tourani Rad, A. (2008). Earnings management and the market performance of dividend issuing firms: NZ evidence. Accounting Research Journal, 21(1), 4-15.
  • Koerniadi, H., & Tourani Rad, A. (2007). Accrual or Cash Flow Anomaly? Evidence from New Zealand. Accounting Research Journal, 20(1), 21-36.
  • Koerniadi, H., Liu, M., & Tourani-Rad, A. (2007). Share repurchases in New Zealand. Advances in Financial Economics, 12(Issues in corporate governance and finance), 481-498.


2009 Highly Commended Award Winner at the Emerald Literati Network Awards for Excellence
2008 AUT Faculty of Business and Law Emerging Researcher Award
2007 AUT Faculty of Business and Law First Publication Award
2005 New Zealand International Doctoral Research Scholarship (NZIDRS) in Commerce/Business

Last updated: 19-Feb-2016 1.05pm

The information on this page was correct at time of publication. For a comprehensive overview of AUT qualifications, please refer to the Academic Calendar.