Panayiotis C. Andreou

Cyprus University of Technology

Associate Professor of Finance

School Of Management and Economics

P.O. Box 50329

Lemesos, 3036

Cyprus

http://www.pandreou.com

SCHOLARLY PAPERS

30

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SSRN CITATIONS
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Top 15,482

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45

CROSSREF CITATIONS

28

Scholarly Papers (30)

1.

Dispersion in Options Investors’ Versus Analysts’ Expectations: Predictive Inference for Stock Returns

Number of pages: 35 Posted: 17 Jan 2014 Last Revised: 15 Aug 2019
Panayiotis C. Andreou, Anastasios Kagkadis, Paulo F. Maio and Dennis Philip
Cyprus University of Technology, Lancaster University - Department of Accounting and Finance, Hanken School of Economics - Department of Finance and Statistics and Durham University - Department of Economics and Finance
Downloads 1,205 (22,498)
Citation 11

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Dispersion in beliefs; Predictability of stock returns; Equity premium; Trading volume dispersion; Out-of-sample predictability; Economic signi ficance

Corporate Governance and Firm-Specific Stock Price Crashes

Forthcoming to European Financial Management, 2016, WBS Finance Group Research Paper No. 178
Number of pages: 62 Posted: 28 Mar 2012 Last Revised: 26 Dec 2019
Cyprus University of Technology, University of Warwick - Warwick Business School, University of Warwick - Warwick Business School and Cyprus University of Technology
Downloads 922 (32,604)
Citation 14

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Crash Risk, Corporate Governance

Corporate Governance and Firm‐Specific Stock Price Crashes

European Financial Management, Vol. 22, Issue 5, pp. 916-956, 2016
Number of pages: 41 Posted: 22 Nov 2016
Cyprus University of Technology, University of Warwick - Warwick Business School, University of Exeter and Cyprus University of Technology
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crash risk, corporate governance, agency risk, information environment

3.

The Impact of Managerial Ability on Crisis-Period Corporate Investment

Journal of Business Research, Forthcoming
Number of pages: 50 Posted: 21 Jul 2015 Last Revised: 31 May 2017
Cyprus University of Technology, University of Central Lancashire, Cyprus University of Technology and Tel Aviv University
Downloads 486 (76,460)
Citation 8

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Managerial Ability, Firm Performance, Corporate Investment, Financing, Underinvestment Problems, Financial Crisis

CEO Duality, Agency Costs, and Internal Capital Allocation Efficiency

Forthcoming, British Journal of Management
Number of pages: 38 Posted: 07 Nov 2016 Last Revised: 28 Nov 2017
Nihat Aktas, Panayiotis C. Andreou, Isabella Karasamani and Dennis Philip
WHU - Otto Beisheim School of Management, Cyprus University of Technology, University of Central Lancashire and Durham University - Department of Economics and Finance
Downloads 479 (77,082)
Citation 5

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CEO duality; Internal capital allocation; Investment efficiency; Agency costs; Board structure; Equity-based compensation

CEO Duality, Agency Costs, and Internal Capital Allocation Efficiency

British Journal of Management, Vol. 30, Issue 2, pp. 473-493, 2019
Number of pages: 21 Posted: 11 May 2019
Nihat Aktas, Panayiotis C. Andreou, Isabella Karasamani and Dennis Philip
WHU - Otto Beisheim School of Management, Cyprus University of Technology, University of Central Lancashire and Durham University - Department of Economics and Finance
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Citation 2
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5.

Differences in Options Investors' Expectations and the Cross-Section of Stock Returns

Journal of Banking and Finance, Forthcoming
Number of pages: 82 Posted: 17 Apr 2015 Last Revised: 02 Sep 2018
Panayiotis C. Andreou, Anastasios Kagkadis, Dennis Philip and Ruslan Tuneshev
Cyprus University of Technology, Lancaster University - Department of Accounting and Finance, Durham University - Department of Economics and Finance and Durham University Business School
Downloads 439 (86,365)
Citation 3

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Dispersion of Beliefs; Disagreement in Options Market; Cross-Section of Stock Returns; Equity Options; Option Trading Volume

6.

Bank Loan Loss Accounting Treatments, Credit Cycles and Crash Risk

London Business School Accounting Research Paper Series
Number of pages: 54 Posted: 03 Aug 2015 Last Revised: 22 Feb 2017
Panayiotis C. Andreou, Ian A. Cooper, Christodoulos Louca and Dennis Philip
Cyprus University of Technology, London Business School, Cyprus University of Technology and Durham University - Department of Economics and Finance
Downloads 437 (86,810)
Citation 1

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Accounting conservatism, loan loss accounting, bank lending, crash risk

7.

Options Pricing Via Statistical Learning Techniques: The Support Vector Regression Approach

Number of pages: 25 Posted: 16 Jun 2008
Panayiotis C. Andreou, Christakis Charalambous and Spiros Martzoukos
Cyprus University of Technology, University of Cyprus - Department of Public and Business Administration and University of Cyprus - Department of Public and Business Administration
Downloads 317 (124,660)

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Option pricing, implied volatilities, implied parameters, deterministic volatility functions, support vector machines, neural networks

8.

Financial Knowledge Among University Students and Implications for Personal Debt and Fraudulent Investments

Cyprus Economic Policy Review, Vol. 12, No. 2, pp 3-23 (2018)
Number of pages: 29 Posted: 09 Oct 2018 Last Revised: 10 Dec 2021
Panayiotis C. Andreou and Dennis Philip
Cyprus University of Technology and Durham University - Department of Economics and Finance
Downloads 271 (147,516)
Citation 2

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Financial Knowledge, Financial Literacy, University Students, Credit Card Debt, Ponzi Schemes

9.

Financial Distress Risk and Stock Price Crashes

Journal of Corporate Finance, Forthcoming
Number of pages: 56 Posted: 17 Sep 2019 Last Revised: 02 Feb 2021
Christoforos Andreou, Panayiotis C. Andreou and Neophytos Lambertides
Cyprus University of Technology, Cyprus University of Technology and Cyprus University of Technology
Downloads 261 (152,571)
Citation 1

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firm-specific stock price crashes; distress risk; bad news hoarding; agency problems; managerial opportunism; financial analysts

10.

Effects of Market Default Risk on Index Options Risk-Neutral Moments

Number of pages: 45 Posted: 24 Jun 2009 Last Revised: 11 Aug 2013
Panayiotis C. Andreou
Cyprus University of Technology
Downloads 249 (159,964)
Citation 1

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default risk, implied volatility smirk, deterministic volatility functions, determinants, trading volume

11.

Financial literacy and its influence on internet banking behaviour

Number of pages: 41 Posted: 26 Dec 2019 Last Revised: 28 Nov 2020
Panayiotis C. Andreou, Sofia Anyfantaki and Sofia Anyfantaki
Cyprus University of Technology and Athens University of Economics and BusinessBank of Greece
Downloads 247 (161,200)
Citation 1

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financial literacy, internet banking, digital literacy, financial education, national strategy

Valuation Effects of Overconfident CEOs on Corporate Diversification and Refocusing Decisions

Journal of Banking and Finance, Forthcoming
Number of pages: 62 Posted: 14 Jan 2017 Last Revised: 16 Jan 2019
Cyprus University of Technology, Old Dominion University - Strome College of Business, Cyprus University of Technology - Department of Commerce and Cyprus University of Technology
Downloads 211 (186,990)

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CEO Overconfidence, Diversification, Refocusing, Diversification Discount, Firm Performance

Valuation Effects of Overconfident CEOs on Corporate Diversification and Refocusing Decisions

Journal of Banking and Finance, 2019
Number of pages: 71 Posted: 07 Mar 2019
Cyprus University of Technology, Old Dominion University - Strome College of Business, Cyprus University of Technology - Department of Commerce and Cyprus University of Technology
Downloads 35 (577,030)
Citation 1

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CEO Overconfidence, Diversification, Refocusing, Diversification Discount, Firm Performance

13.

A critique of the agency theory viewpoint of stock price crash risk

Number of pages: 38 Posted: 01 Mar 2021 Last Revised: 12 Oct 2021
Panayiotis C. Andreou, Neophytos Lambertides and Marina Magidou
Cyprus University of Technology, Cyprus University of Technology and University of Central Lancashire - Cyprus
Downloads 223 (177,829)

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stock price crashes, bad news hoarding, agency theory, opacity, overinvestment, stock price crash channels, corporate governance

14.

Firm Growth Potential and Option Returns

Georgetown McDonough School of Business Research Paper No. 3874674
Number of pages: 61 Posted: 14 Jul 2021
Cyprus University of Technology, Georgetown University - Robert Emmett McDonough School of Business, Lancaster University - Department of Accounting and Finance and Cyprus University of Technology
Downloads 177 (220,294)

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Option returns, Growth potential, Growth options, Idiosyncratic skewness, Skewness preference

15.

The Information Content of Forward Moments

Journal of Banking and Finance, Forthcoming
Number of pages: 56 Posted: 06 Mar 2017 Last Revised: 04 Aug 2019
Cyprus University of Technology, Lancaster University - Department of Accounting and Finance, Durham University - Department of Economics and Finance and Durham University Business School
Downloads 151 (250,620)
Citation 1

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Forward Moments; Implied Volatility Surface; Partial Least Squares; Predictability of Stock Returns; Equity Premium; Variance Premium

16.

The OCAI Textual Measure of Organizational Culture

Number of pages: 24 Posted: 06 Aug 2020 Last Revised: 01 Sep 2020
Panayiotis C. Andreou, Terry Harris, Dennis Philip and Wenrui Zhang
Cyprus University of Technology, Durham University Business School, Durham University - Department of Economics and Finance and Durham University Business School
Downloads 135 (273,933)
Citation 2

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Organizational Culture, Organizational Culture Assessment Instrument, Competing Values Framework, OCAI, Construct Validation, Textual Analysis

17.

Investor Sentiments, Rational Beliefs and Option Prices

Number of pages: 48 Posted: 23 Jul 2014
Panayiotis C. Andreou, Anastasios Kagkadis and Dennis Philip
Cyprus University of Technology, Lancaster University - Department of Accounting and Finance and Durham University - Department of Economics and Finance
Downloads 133 (277,050)
Citation 2

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Risk-neutral skewness; Implied volatility smirk; Investor sentiment; Macroeconomy; Index options

18.

Overinvestment and Stock Price Crashes: Evidence from Mergers and Acquisitions

Number of pages: 43 Posted: 23 Mar 2021
Panayiotis C. Andreou, Konstantinos Bozos and Evridiki Panayi
Cyprus University of Technology, Independent and University of Leeds - Faculty of Business
Downloads 97 (345,596)

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firm-specific stock price crashes, bad news hoarding, agency theory, stock price crash channels, overinvestment, merger and acquisitions

19.

Institutional Ownership and Firms’ Thrust to Compete

Forthcoming British Journal of Management
Number of pages: 54 Posted: 12 Feb 2018 Last Revised: 03 Feb 2021
Cyprus University of Technology, University of Rome III, ItalyUniversity of Rome III - Department of Business Studies, Durham University Business School and Durham University - Department of Economics and Finance
Downloads 95 (350,212)

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Thrust to compete; Corporate culture; Competing values framework; Institutional ownership; Transient investors; short-horizon investors

20.

Organizational Learning and Corporate Diversification Performance

Journal of Business Research, 2016
Number of pages: 59 Posted: 04 Oct 2010 Last Revised: 02 Apr 2016
Panayiotis C. Andreou, Christodoulos Louca and Andreas Petrou
Cyprus University of Technology, Cyprus University of Technology and Cyprus University of Technology
Downloads 79 (391,847)

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organizational learning, absorptive capacity, diversification, repetitive experience, accumulative experience, diversification discount, firm performance

21.

Managerial Rhetoric of Technology and Innovation, Institutional Ownership, and Stock Price Crashes

Number of pages: 42 Posted: 11 Mar 2021
Panayiotis C. Andreou, Kyriakos Drivas, Dennis Philip and Geoffrey Wood
Cyprus University of Technology, University of Piraeus, Durham University - Department of Economics and Finance and Western University
Downloads 54 (476,072)

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Managerial narratives, institutional investors; expectations, innovation, R&D, patents; stock price crashes

22.

Short-Horizon Event Study Estimation with a STAR Model and Real Contaminated Events

Number of pages: 44 Posted: 30 Oct 2014 Last Revised: 24 Apr 2015
Panayiotis C. Andreou, Christodoulos Louca and Christos S. Savva
Cyprus University of Technology, Cyprus University of Technology and Cyprus University of Technology - Department of Commerce, Finance and Shipping
Downloads 49 (496,590)

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Event studies, parametric test statistics, unrelated events, Markov switching regression model, Smooth Transition Auto Regressive (STAR) model

23.

Stock Price Crash Risk and the Managerial Rhetoric Channel: Evidence from Narrative R&D Disclosure

Number of pages: 50 Posted: 24 Jul 2021
Panayiotis C. Andreou, Neophytos Lambertides and Marina Magidou
Cyprus University of Technology, Cyprus University of Technology and University of Central Lancashire - Cyprus
Downloads 48 (500,955)

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firm-specific stock price crashes, stock price crash channels, managerial rhetoric, managerial characteristics, managerial incentives, internal and external corporate governance

24.

Bank Opaqueness and Intermediation

Number of pages: 48 Posted: 20 Jan 2017 Last Revised: 02 Feb 2017
Cyprus University of Technology, Cyprus University of Technology - Department of Commerce, Durham University - Department of Economics and Finance and PwC Strategy&
Downloads 48 (500,955)

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Financial Institutions, Liquidity Creation, Regulation, Opacity

25.

Measuring Firms’ Market Orientation Using Textual Analysis of 10‐K Filings

British Journal of Management, Vol. 31, Issue 4, pp. 872-895, 2020
Number of pages: 24 Posted: 09 Oct 2020
Panayiotis C. Andreou, Terry Harris and Dennis Philip
Cyprus University of Technology, Durham University Business School and Durham University - Department of Economics and Finance
Downloads 0 (829,731)
Citation 1
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26.

Corporate Environmental Proactivity: Evidence from the European Union’s Emissions Trading System

Forthcoming in British Journal of Management
Posted: 28 May 2019
Panayiotis C. Andreou and Neil Kellard
Cyprus University of Technology and University of Essex - Essex Business School

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Environmental policy, Proactiveness, EU ETS, Greenhouse gas emissions, Firm performance

27.

CEO Age and Stock Price Crash Risk

Forthcoming in Review of Finance
Posted: 12 Sep 2016 Last Revised: 07 Nov 2016
Panayiotis C. Andreou, Christodoulos Louca and Andreas Petrou
Cyprus University of Technology, Cyprus University of Technology and Cyprus University of Technology

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CEO Age, Crash Risk, Agency Theory, Managerial Discretion

28.

Bank Liquidity Creation and Risk‐Taking: Does Managerial Ability Matter?

Journal of Business Finance & Accounting, Vol. 43, Issue 1-2, pp. 226-259, 2016
Number of pages: 34 Posted: 21 Mar 2016
Panayiotis C. Andreou, Dennis Philip and Peter Paul Robejsek
Cyprus University of Technology, Durham University - Department of Economics and Finance and PwC Strategy&
Downloads 0 (829,731)
Citation 2
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financial institutions, managerial ability, liquidity creation, risk‐taking, financial crisis

29.

Assessing the Performance of Symmetric and Asymmetric Implied Volatility Functions

Posted: 09 Jul 2008 Last Revised: 16 Jan 2011
Panayiotis C. Andreou, Christakis Charalambous and Spiros Martzoukos
Cyprus University of Technology, University of Cyprus - Department of Public and Business Administration and University of Cyprus - Department of Public and Business Administration

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Option pricing, implied volatilities, deterministic volatility functions, implied volatility functions

30.

Generalized Parameter Functions for Option Pricing

Journal of Banking & Finance, Volume 34, Issue 3, March 2010, Pages 633-646
Posted: 17 Mar 2008 Last Revised: 19 Jul 2015
Christakis Charalambous, Panayiotis C. Andreou and Spiros Martzoukos
University of Cyprus - Department of Public and Business Administration, Cyprus University of Technology and University of Cyprus - Department of Public and Business Administration

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implied parameters, deterministic volatility functions, hedging, semi-parametric approach

Other Papers (2)

Total Downloads: 142
1.

Measuring Firms’ Market Orientation Using Textual Analysis of 10-K Filings

Forthcoming, British Journal of Management
Number of pages: 81 Posted: 12 Dec 2017 Last Revised: 05 Dec 2019
Panayiotis C. Andreou, Terry Harris and Dennis Philip
Cyprus University of Technology, Durham University Business School and Durham University - Department of Economics and Finance
Downloads 126

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Market Orientation, Customer Orientation, Competitor Orientation, MKTOR, Firm Performance, Textual Analysis

2.

Bank Liquidity Creation and Risk-Taking: Does Managerial Ability Matter?

Journal of Business Finance and Accounting, Forthcoming
Number of pages: 41 Posted: 21 Sep 2015 Last Revised: 07 Nov 2015
Panayiotis C. Andreou, Dennis Philip and Peter Paul Robejsek
Cyprus University of Technology, Durham University - Department of Economics and Finance and PwC Strategy&
Downloads 16

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Financial Institutions; Managerial Ability; Liquidity Creation; Risk-Taking; Financial Crisis