George M. Korniotis

University of Miami

Assistant Professor of Finance

P.O. Box 248094

Coral Gables, FL 33124-6552

United States

Miami Business School

University of Miami - Behavioral Decision Making Cluster

5250 University Drive

Coral Gables, FL 33124

United States

  • University of Miami

    • Email
    • Tel: 305-284-5728

  • Miami Business School

  • University of Miami - Behavioral Decision Making Cluster

SCHOLARLY PAPERS

26

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12,699

SSRN CITATIONS
Rank 6,474

SSRN RANKINGS

Top 6,474

in Total Papers Citations

85

CROSSREF CITATIONS

89

Scholarly Papers (26)

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1.

Do Older Investors Make Better Investment Decisions?

Review of Economics and Statistics, Forthcoming
Number of pages: 65 Posted: 20 Mar 2006 Last Revised: 11 Jul 2009
George M. Korniotis and Alok Kumar
University of Miami and University of Miami - Miami Herbert Business School
Downloads 3,198 (3,597)
Citation 9

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Older individual investors, cognitive aging, investment experience, learning, rules of thumb, investment skill

2.

State-Level Business Cycles and Local Return Predictability

Journal of Finance, Forthcoming
Number of pages: 89 Posted: 19 Feb 2008 Last Revised: 20 Apr 2012
George M. Korniotis and Alok Kumar
University of Miami and University of Miami - Miami Herbert Business School
Downloads 1,228 (17,266)
Citation 10

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3.

Do Portfolio Distortions Reflect Superior Information or Psychological Biases?

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 80 Posted: 20 Jul 2009 Last Revised: 20 Apr 2012
George M. Korniotis and Alok Kumar
University of Miami and University of Miami - Miami Herbert Business School
Downloads 1,165 (18,680)
Citation 16

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Individual investors, cognitive abilities, behavioral biases, diversification, active trading, local bias

4.

Stature, Obesity, and Portfolio Choice

Number of pages: 61 Posted: 21 Nov 2009 Last Revised: 17 Jul 2015
Jawad M. Addoum, George M. Korniotis and Alok Kumar
Cornell University, University of Miami and University of Miami - Miami Herbert Business School
Downloads 972 (24,444)
Citation 13

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5.

Do Fundamentals Drive Cryptocurrency Returns?

Number of pages: 71 Posted: 06 Mar 2019 Last Revised: 16 Apr 2020
Siddharth Bhambhwani, Stefanos Delikouras and George M. Korniotis
Hong Kong University of Science & Technology (HKUST) - HKUST Business School, University of Miami - Department of Finance and University of Miami
Downloads 663 (41,738)
Citation 9

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Bitcoin, Ethereum, Litecoin, Monero, Dash, Hashrate, Computing Power, Network, Cointegration, Asset Pricing Factors

6.

Geography of Firms and Propagation of Local Economic Shocks

Number of pages: 68 Posted: 22 May 2012 Last Revised: 07 Mar 2019
Gennaro (帅纳) Bernile, Stefanos Delikouras, George M. Korniotis and Alok Kumar
University of Miami - Department of Finance, University of Miami - Department of Finance, University of Miami and University of Miami - Miami Herbert Business School
Downloads 631 (44,441)

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Economic networks, 10-K filings, U.S. states, Gross State Product (GSP), predictability

7.

Investor Sophistication and Asset Prices

Number of pages: 55 Posted: 10 Dec 2012 Last Revised: 19 Jul 2017
George M. Korniotis, Alok Kumar and Jeremy K. Page
University of Miami, University of Miami - Miami Herbert Business School and Brigham Young University
Downloads 489 (61,462)
Citation 1

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Local return predictability, return comovement, trading correlation, investor sophistication, risk sharing, local bias, state portfolios

8.

Mood, Firm Behavior, and Aggregate Economic Outcomes

Number of pages: 66 Posted: 25 Mar 2015 Last Revised: 21 Jun 2019
Vidhi Chhaochharia, Dasol Kim, George M. Korniotis and Alok Kumar
University of Miami - Department of Finance, Office of Financial Research, US Department of the Treasury, University of Miami and University of Miami - Miami Herbert Business School
Downloads 462 (65,934)
Citation 5

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Cloud cover, mood, small business managers, firm investment behavior, managerial optimism, state-level business cycles

9.

Do Behavioral Biases Adversely Affect the Macro-Economy?

Review of Financial Studies, Forthcoming
Number of pages: 72 Posted: 11 Aug 2008 Last Revised: 17 Sep 2010
George M. Korniotis and Alok Kumar
University of Miami and University of Miami - Miami Herbert Business School
Downloads 440 (69,971)
Citation 6

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Risk sharing, income risk, financial markets, cognitive abilities, behavioral biases, investor sophistication

10.

Prozac for Depressed States? Effect of Mood on Local Economic Recessions

Number of pages: 56 Posted: 19 Apr 2011 Last Revised: 15 Jul 2017
Vidhi Chhaochharia, George M. Korniotis and Alok Kumar
University of Miami - Department of Finance, University of Miami and University of Miami - Miami Herbert Business School
Downloads 401 (78,157)
Citation 7

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11.

Local Business Cycles and Local Liquidity

Number of pages: 53 Posted: 07 May 2012 Last Revised: 05 Dec 2013
Gennaro (帅纳) Bernile, George M. Korniotis, Alok Kumar and Qin Emma Wang
University of Miami - Department of Finance, University of Miami, University of Miami - Miami Herbert Business School and Oklahoma State University - Tulsa
Downloads 391 (80,440)
Citation 3

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Geographical market segmentation, local business cycles, local liquidity, local bias, state portfolios, return predictability

12.

Income Hedging and Portfolio Decisions

Number of pages: 70 Posted: 09 Nov 2012 Last Revised: 31 Jul 2013
Yosef Bonaparte, George M. Korniotis and Alok Kumar
University of Colorado at Denver - Department of Finance, University of Miami and University of Miami - Miami Herbert Business School
Downloads 379 (83,413)
Citation 8

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income hedging, market participation, asset allocation, household finance

13.

The Human Capital That Matters: Expected Returns and High-Income Households

Review of Financial Studies, 2016, 29(9): 2523-2563
Number of pages: 56 Posted: 15 Sep 2007 Last Revised: 15 Oct 2016
Sean D. Campbell, Stefanos Delikouras, Danling Jiang and George M. Korniotis
U.S. Division of Monetary Affairs, University of Miami - Department of Finance, College of Business, Stony Brook University and University of Miami
Downloads 333 (96,678)
Citation 2

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human capital, income risk, affluent investors, stock returns

14.

Income Hedging, Dynamic Style Preferences, and Return Predictability

Journal of Finance, Forthcoming, University of Miami Business School Research Paper No. 18-8
Number of pages: 91 Posted: 04 May 2014 Last Revised: 10 Oct 2018
Jawad M. Addoum, Stefanos Delikouras, George M. Korniotis and Alok Kumar
Cornell University, University of Miami - Department of Finance, University of Miami and University of Miami - Miami Herbert Business School
Downloads 287 (113,714)
Citation 1

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Income hedging, hedging demand, value factor, state-level income risk, style investing, return predictability

15.

Social Risk and Portfolio Choice

7th Miami Behavioral Finance Conference 2016
Number of pages: 82 Posted: 03 Nov 2016 Last Revised: 05 Dec 2018
William J. Bazley, Yosef Bonaparte, George M. Korniotis and Alok Kumar
University of Kansas, University of Colorado at Denver - Department of Finance, University of Miami and University of Miami - Miami Herbert Business School
Downloads 217 (150,775)
Citation 4

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Stock market participation, asset allocation, income risk, subjective probabilities, household finance

16.

Estimating Panel Models with Internal and External Habit Formation

Number of pages: 57 Posted: 17 May 2007 Last Revised: 15 Apr 2009
George M. Korniotis
University of Miami
Downloads 211 (154,795)
Citation 12

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Dynamic Panel Models, Bias Correction, Spatial Effects, Habit Formation, U.S. State Consumption

17.

Clustering Fosters Investment: Local Agglomeration and Household Portfolio Choice

9th Miami Behavioral Finance Conference 2018, University of Miami Business School Research Paper No. 2909168
Number of pages: 52 Posted: 06 Nov 2019 Last Revised: 14 Feb 2020
Jawad M. Addoum, Stefanos Delikouras, Da Ke and George M. Korniotis
Cornell University, University of Miami - Department of Finance, University of South Carolina - Department of Finance and University of Miami
Downloads 194 (167,415)

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local agglomeration, household portfolio choice, human capital

18.

Habit Formation, Incomplete Markets, and the Significance of Regional Risk for Expected Returns

Downloads 185 (174,776)
Citation 2

Habit Formation, Incomplete Markets, and the Significance of Regional Risk for Expected Returns

Review of Financial Studies, Forthcoming
Number of pages: 58 Posted: 28 Sep 2005 Last Revised: 08 Aug 2008
George M. Korniotis
University of Miami
Downloads 185 (174,696)
Citation 2

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Incomplete Markets, External Habit, Expected Returns, State-Level Consumption

Habit Formation, Incomplete Markets, and the Significance of Regional Risk for Expected Returns

The Review of Financial Studies, Vol. 21, Issue 5, pp. 2139-2172, 2008
Posted: 19 Sep 2008
George M. Korniotis
University of Miami

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E21, G12

19.

Consumption-Income Sensitivity and Portfolio Choice

Number of pages: 72 Posted: 16 Mar 2014 Last Revised: 18 Jun 2018
Jawad M. Addoum, Stefanos Delikouras and George M. Korniotis
Cornell University, University of Miami - Department of Finance and University of Miami
Downloads 145 (215,205)
Citation 3

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life-cycle consumption, income hedging, portfolio theory, consumption-income sensitivity

20.

Big Fish in a Small Pond: Locally-Dominant Firms and the Business Cycle

Number of pages: 67 Posted: 14 Dec 2016 Last Revised: 13 Nov 2019
Sima Jannati, George M. Korniotis and Alok Kumar
University of Missouri-Columbia, University of Miami and University of Miami - Miami Herbert Business School
Downloads 144 (216,397)
Citation 1

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Idiosyncratic shocks; state-level business cycle; U.S. business cycle; economic contagion

21.

Portfolio Choice with Investor Entry and Exit

Number of pages: 77 Posted: 24 May 2017 Last Revised: 05 Dec 2018
Yosef Bonaparte, George M. Korniotis and Alok Kumar
University of Colorado at Denver - Department of Finance, University of Miami and University of Miami - Miami Herbert Business School
Downloads 135 (227,771)
Citation 6

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Consumption risk, limited stock market participation, trading costs, income risk, PSID, SCF

22.

Why Memory Hinders Investor Learning

Number of pages: 42 Posted: 03 Oct 2016 Last Revised: 29 Jul 2018
William J. Bazley, George M. Korniotis and Gregory R. Samanez-Larkin
University of Kansas, University of Miami and Yale University - Department of Psychology
Downloads 130 (234,652)
Citation 1

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Retail investors, diversification, trading, portfolio performance, serial position effect, memory

23.

Consuming, Saving, and Spending Most of Income

Number of pages: 43 Posted: 25 Oct 2004 Last Revised: 15 Jul 2017
Stefanos Delikouras and George M. Korniotis
University of Miami - Department of Finance and University of Miami
Downloads 121 (247,701)

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Savings, mental accounting, quadratic utility, consumer choice

24.

Do Role Models Affect Risk-Taking Behavior? The Case of Minorities

Downloads 120 (252,348)

Do Role Models Affect Risk-Taking Behavior? The Case of Minorities

Number of pages: 35 Posted: 05 Aug 2017 Last Revised: 18 Feb 2020
Yosef Bonaparte, Sarah Khalaf and George M. Korniotis
University of Colorado at Denver - Department of Finance, Kuwait University and University of Miami
Downloads 120 (253,455)

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Asset allocation, stock ownership, savings, trading, wealth gap, SCF, PSID

Do Role Models Affect Risk-Taking Behavior? the Case of Minorities

CEPR Discussion Paper No. DP14264
Number of pages: 38 Posted: 14 Jan 2020 Last Revised: 02 Mar 2020
Yosef Bonaparte, Sarah Khalaf and George M. Korniotis
University of Colorado at Denver - Department of Finance, Kuwait University and University of Miami
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asset allocation, PSID, Savings, SCF, Stock ownership, Trading, wealth gap

25.

Financial Self-Awareness: Who Knows What They Don't Know?

University of Miami Business School Research Paper No. 3419779
Number of pages: 10 Posted: 15 Jul 2019 Last Revised: 25 Jan 2020
William J. Bazley, Yosef Bonaparte and George M. Korniotis
University of Kansas, University of Colorado at Denver - Department of Finance and University of Miami
Downloads 56 (393,612)

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stock market participation, financial literacy, self-awareness

26.

Do Fundamentals Drive Cryptocurrency Returns?

CEPR Discussion Paper No. DP13724
Number of pages: 74 Posted: 13 May 2019 Last Revised: 06 May 2020
Siddharth Bhambhwani, Stefanos Delikouras and George M. Korniotis
University of Miami Herbert Business School, University of Miami - Department of Finance and University of Miami
Downloads 2 (680,412)
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Asset Pricing Factors, Bitcoin, cointegration, Computing Power, Dash, ethereum, Hashrate, Litecoin, Monero, network