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

29

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14,890

SSRN CITATIONS
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Top 5,771

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134

CROSSREF CITATIONS

94

Scholarly Papers (29)

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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 3,298 (5,041)
Citation 20

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

2.

Blockchain Characteristics and the Cross-Section of Cryptocurrency Returns

Number of pages: 52 Posted: 06 Mar 2019 Last Revised: 29 Nov 2021
Siddharth Bhambhwani, Stefanos Delikouras and George M. Korniotis
Washington College, University of Miami - Department of Finance and University of Miami
Downloads 1,438 (18,856)
Citation 17

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Hashrate, Network, Factor Analysis, GMM, Rolling Estimation

3.

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 1,286 (22,290)
Citation 16

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4.

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 1,231 (23,815)
Citation 22

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

5.

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 SC Johnson College of Business, University of Miami and University of Miami - Miami Herbert Business School
Downloads 1,064 (29,393)
Citation 17

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6.

Geography of Firms and Propagation of Local Economic Conditions

Number of pages: 66 Posted: 22 May 2012 Last Revised: 26 Jul 2021
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 727 (49,736)

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Economic networks, 10-K filings, 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 592 (64,819)
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 584 (65,992)
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 470 (86,239)
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 432 (95,188)
Citation 7

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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 - Miami Herbert Business School
Downloads 418 (98,861)
Citation 16

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income hedging, market participation, asset allocation, household finance

12.

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 417 (99,131)
Citation 3

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

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 355 (119,042)
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 SC Johnson College of Business, University of Miami - Department of Finance, University of Miami and University of Miami - Miami Herbert Business School
Downloads 330 (128,898)
Citation 1

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

15.

Industry Clusters and the Geography of Portfolio Choice

9th Miami Behavioral Finance Conference 2018, University of Miami Business School Research Paper No. 2909168
Number of pages: 54 Posted: 06 Nov 2019 Last Revised: 06 Oct 2021
Jawad M. Addoum, Stefanos Delikouras, Da Ke and George M. Korniotis
Cornell SC Johnson College of Business, University of Miami - Department of Finance, University of South Carolina - Department of Finance and University of Miami
Downloads 326 (130,568)

Abstract:

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local agglomeration, household portfolio choice, human capital

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 227 (187,701)
Citation 13

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

17.

Grit, Preferences, and Investor Behavior

Number of pages: 59 Posted: 16 Jun 2021 Last Revised: 31 Jan 2022
William Bazley, Sima Jannati and George M. Korniotis
University of Kansas, University of Missouri-Columbia and University of Miami
Downloads 225 (189,220)

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Prospect theory, loss aversion, disposition effect, experimental market, personality traits

18.

Income Risk and Stock Market Entry/Exit Decisions

Downloads 210 (201,982)
Citation 6

Income Risk and Stock Market Entry/Exit Decisions

Number of pages: 66 Posted: 24 May 2017 Last Revised: 11 May 2021
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 209 (202,686)
Citation 5

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Non-retirement accounts, ownership turnover, trading costs, PSID, SCF.

Income Risk and Stock Market Entry/Exit Decisions

CEPR Discussion Paper No. DP15370
Number of pages: 69 Posted: 03 Nov 2020 Last Revised: 14 May 2021
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 (928,815)
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19.

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

Downloads 196 (215,182)
Citation 5

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 196 (215,080)
Citation 5

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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

20.

Can the Past Hinder Investor Learning?

Downloads 191 (220,137)
Citation 1

Can the Past Hinder Investor Learning?

Number of pages: 39 Posted: 03 Oct 2016 Last Revised: 01 Dec 2021
William Bazley, George M. Korniotis and Gregory R. Samanez-Larkin
University of Kansas, University of Miami and Duke University - Department of Psychology and Neuroscience
Downloads 163 (252,443)
Citation 1

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Diversification, Trading frequency, Portfolio Performance, Serial Position Effect

Can the Past Hinder Investor Learning?

Number of pages: 46 Posted: 15 Jun 2022
William Bazley, George M. Korniotis and Gregory R. Samanez-Larkin
University of Kansas, University of Miami and Duke University - Department of Psychology and Neuroscience
Downloads 28 (659,702)

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Diversification, Trading frequency, Portfolio Performance

21.

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 181 (230,647)
Citation 1

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

22.

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 SC Johnson College of Business, University of Miami - Department of Finance and University of Miami
Downloads 165 (249,396)
Citation 2

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

23.

The Obama Effect: Heightened Risk Tolerance, Optimism, and Wealth Accumulation by Minorities after 2008

Downloads 153 (265,476)

The Obama Effect: Heightened Risk Tolerance, Optimism, and Wealth Accumulation by Minorities after 2008

Number of pages: 40 Posted: 05 Aug 2017 Last Revised: 16 May 2022
Yosef Bonaparte, Sarah Khalaf and George M. Korniotis
University of Colorado at Denver - Department of Finance, Kuwait University and University of Miami
Downloads 153 (266,163)

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Risk tolerance, optimism, stock ownership, asset allocation, wealth gap, SCF, presidential elections.

The Obama Effect: Heightened Risk Tolerance, Optimism, and Wealth Accumulation by Minorities after 2008

CEPR Discussion Paper No. DP14264
Number of pages: 43 Posted: 14 Jan 2020 Last Revised: 27 May 2022
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, Optimism, presidential elections, Risk tolerance, SCF, Stock ownership, wealth gap

24.

Consuming, Saving, and Spending Most of Income

Number of pages: 43 Posted: 25 Oct 2004 Last Revised: 07 Feb 2022
Stefanos Delikouras and George M. Korniotis
University of Miami - Department of Finance and University of Miami
Downloads 138 (288,053)

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Savings, mental accounting, quadratic utility, consumer choice

25.

Asset Pricing With and Without Garbage: The Overlooked Triple-Hypothesis Problem

University of Miami Business School Research Paper No. 3417217
Number of pages: 54 Posted: 10 Jul 2019 Last Revised: 09 May 2022
Stefanos Delikouras and George M. Korniotis
University of Miami - Department of Finance and University of Miami
Downloads 136 (291,383)

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Cross-section of expected returns, Epstein-Zin preferences, risk-free rate, GMM, consumption growth

26.

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 Bazley, Yosef Bonaparte and George M. Korniotis
University of Kansas, University of Colorado at Denver - Department of Finance and University of Miami
Downloads 87 (394,910)

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stock market participation, financial literacy, self-awareness

27.

Discrimination and Economic Expectations

Number of pages: 29 Posted: 29 Jul 2022
William 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 11 (779,062)

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Economic expectations, discrimination, racial/ethnic minorities, inflation, income growth uncertainty.

28.

Blockchain Characteristics and the Cross-Section of Cryptocurrency Returns

CEPR Discussion Paper No. DP13724
Number of pages: 55 Posted: 13 May 2019 Last Revised: 04 Feb 2022
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 (874,666)
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Factor Analysis, GMM, Hashrate, network, Rolling Estimation

29.

Asset Pricing with and Without Garbage: The Overlooked Triple-Hypothesis Problem

CEPR Discussion Paper No. DP16958
Number of pages: 57 Posted: 04 Feb 2022 Last Revised: 27 May 2022
Stefanos Delikouras and George M. Korniotis
University of Miami and University of Miami
Downloads 0 (905,910)
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Consumption Growth, Cross-section of expected returns, Epstein-Zin Preferences, GMM, Risk-free rate