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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13,234

SSRN CITATIONS
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SSRN RANKINGS

Top 5,997

in Total Papers Citations

118

CROSSREF CITATIONS

93

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 3,236 (3,884)
Citation 16

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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 1,243 (18,492)
Citation 15

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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 1,181 (19,953)
Citation 19

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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 986 (26,040)
Citation 15

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5.

Blockchain Characteristics and the Cross-Section of Cryptocurrency Returns

Number of pages: 55 Posted: 06 Mar 2019 Last Revised: 29 Sep 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 860 (31,706)
Citation 12

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Bitcoin, Ethereum, Litecoin, Dash, Dogecoin, Vertcoin, Monero, Ripple, NEM, Hashrate, Network, Cointegration, Investor Sentiment, GMM

6.

Geography of Firms and Propagation of Local Economic Conditions

Number of pages: 67 Posted: 22 May 2012 Last Revised: 17 Jun 2020
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 650 (46,378)

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Economic networks, 10-K filings, U.S. states, Gross State Product, predictability, return comovement, liquidity, sales

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 510 (63,132)
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 487 (66,816)
Citation 6

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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 444 (74,858)
Citation 8

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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 409 (82,498)
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 396 (85,674)
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 388 (87,674)
Citation 14

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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
Board of Governors of the Federal Reserve System, University of Miami - Department of Finance, College of Business, Stony Brook University and University of Miami
Downloads 339 (102,330)
Citation 3

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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 301 (116,548)
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 241 (146,449)
Citation 6

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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 219 (160,574)
Citation 13

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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 216 (162,669)

Abstract:

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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 190 (183,271)
Citation 4

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 190 (183,155)
Citation 4

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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

Abstract:

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E21, G12

19.

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

Journal of Economic Behavior & Organization, Volume 180, December 2020
Number of pages: 82 Posted: 14 Dec 2016 Last Revised: 29 Oct 2020
Sima Jannati, George M. Korniotis and Alok Kumar
University of Missouri-Columbia, University of Miami and University of Miami - Miami Herbert Business School
Downloads 159 (213,796)
Citation 1

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

20.

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 150 (224,426)
Citation 4

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

21.

Income Risk, Ownership Dynamics, and Portfolio Decisions

Downloads 149 (225,624)
Citation 5

Income Risk, Ownership Dynamics, and Portfolio Decisions

Number of pages: 76 Posted: 24 May 2017 Last Revised: 29 Dec 2020
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 148 (227,383)
Citation 6

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Market entry/exit, non-retirement accounts, income risk, ownership turnover, trading costs.

Income Risk, Ownership Dynamics, and Portfolio Decisions

CEPR Discussion Paper No. DP15370
Number of pages: 75 Posted: 03 Nov 2020
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 1 (772,677)
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Income risk, Market entry/exit, non-retirement accounts, ownership turnover, Trading Costs

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 Duke University - Department of Psychology and Neuroscience
Downloads 140 (237,244)
Citation 1

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

23.

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

Downloads 137 (241,499)

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 137 (242,239)

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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

24.

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 128 (254,508)

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Savings, mental accounting, quadratic utility, consumer choice

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 73 (367,259)

Abstract:

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stock market participation, financial literacy, self-awareness

26.

Blockchain Characteristics and the Cross-Section of Cryptocurrency Returns

CEPR Discussion Paper No. DP13724
Number of pages: 58 Posted: 13 May 2019 Last Revised: 02 Nov 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 (725,334)
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Bitcoin, cointegration, Dash, ethereum, GMM estimation, Hashrate, Investor Sentiment, Litecoin, network