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

SCHOLARLY PAPERS

26

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11,730

CITATIONS
Rank 6,059

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Top 6,059

in Total Papers Citations

92

Scholarly Papers (26)

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 - School of Business Administration
Downloads 3,147 (3,306)
Citation 68

Abstract:

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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 - School of Business Administration
Downloads 1,207 (16,079)
Citation 23

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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 - School of Business Administration
Downloads 1,132 (17,729)
Citation 35

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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 - School of Business Administration
Downloads 930 (23,684)
Citation 11

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5.

Geography of Firms and Propagation of Local Economic Shocks

Number of pages: 68 Posted: 22 May 2012 Last Revised: 07 Mar 2019
University of Miami - Department of Finance, University of Miami - Department of Finance, University of Miami and University of Miami - School of Business Administration
Downloads 568 (46,523)

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

6.

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 - School of Business Administration and Brigham Young University
Downloads 452 (62,013)

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

7.

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 - School of Business Administration
Downloads 435 (64,942)
Citation 13

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

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 - School of Business Administration
Downloads 415 (68,722)
Citation 4

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

9.

Local Business Cycles and Local Liquidity

Number of pages: 53 Posted: 07 May 2012 Last Revised: 05 Dec 2013
University of Miami - Department of Finance, University of Miami, University of Miami - School of Business Administration and Oklahoma State University - Tulsa
Downloads 386 (74,927)
Citation 6

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

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 - School of Business Administration
Downloads 371 (78,401)
Citation 3

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11.

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 - School of Business Administration
Downloads 368 (79,189)
Citation 12

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income hedging, market participation, asset allocation, household finance

12.

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
U.S. Division of Monetary Affairs, University of Miami - Department of Finance, College of Business, Stony Brook University and University of Miami
Downloads 322 (92,154)
Citation 3

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human capital, income risk, affluent investors, stock returns

13.

Do Fundamentals Drive Cryptocurrency Prices?

Number of pages: 58 Posted: 06 Mar 2019 Last Revised: 12 Jul 2019
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 292 (103,668)
Citation 1

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

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 - School of Business Administration
Downloads 252 (119,778)

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

15.

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 207 (145,148)
Citation 27

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

16.

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 - School of Business Administration
Downloads 197 (152,076)
Citation 3

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

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 183 (162,651)
Citation 12

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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

18.

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: 49 Posted: 15 Mar 2019 Last Revised: 16 Apr 2019
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 166 (177,317)

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local agglomeration, household portfolio choice, human capital

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 140 (204,259)

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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: 63 Posted: 14 Dec 2016 Last Revised: 02 Jun 2019
Sima Jannati, George M. Korniotis and Alok Kumar
University of Missouri-Columbia, University of Miami and University of Miami - School of Business Administration
Downloads 130 (216,737)
Citation 2

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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 - School of Business Administration
Downloads 126 (221,970)
Citation 3

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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 115 (237,634)

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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 106 (251,635)

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Savings, mental accounting, quadratic utility, consumer choice

24.

Do Role Models Affect Risk-Taking Behavior?

Number of pages: 47 Posted: 05 Aug 2017 Last Revised: 15 Nov 2018
Yosef Bonaparte, Sarah Khalaf and George M. Korniotis
University of Colorado at Denver - Department of Finance, University of Miami and University of Miami
Downloads 77 (308,269)

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Asset Allocation, Stock Market Participation, Trading, Role Model, PSID, SCF

25.

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

Number of pages: 10 Posted: 15 Jul 2019
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 4 (613,177)

Abstract:

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stock market participation, financial literacy, self-awareness

26.

Do Fundamentals Drive Cryptocurrency Prices?

CEPR Discussion Paper No. DP13724
Number of pages: 69 Posted: 13 May 2019
Siddharth Bhambhwani, Stefanos Delikouras and George M. Korniotis
University of Miami - School of Business Administration, University of Miami - Department of Finance and University of Miami
Downloads 2 (631,025)
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Abstract:

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Asset Pricing Factors, Bitcoin, cointegration, Computing Power, Dash, ethereum, Hashrate, Litecoin, Monero, network