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

  • Cyprus University of Technology

SCHOLARLY PAPERS

29

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27

Scholarly Papers (29)

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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 Business School
Downloads 1,218 (23,866)
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

2.

Corporate Governance and Firm-Specific Stock Price Crashes

Downloads 952 ( 33,997)
Citation 15

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
Panayiotis C. Andreou, Constantinos Antoniou, Joanne Horton and Christodoulos Louca
Cyprus University of Technology, University of Warwick - Warwick Business School, University of Warwick - Warwick Business School and Cyprus University of Technology
Downloads 950 (33,602)
Citation 16

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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
Panayiotis C. Andreou, Constantinos Antoniou, Joanne Horton and Christodoulos Louca
Cyprus University of Technology, University of Warwick - Warwick Business School, University of Exeter and Cyprus University of Technology
Downloads 2 (895,618)

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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
Panayiotis C. Andreou, Isabella Karasamani, Christodoulos Louca and Daphna Ehrlich
Cyprus University of Technology, University of Central Lancashire, Cyprus University of Technology and Tel Aviv University
Downloads 502 (78,914)
Citation 8

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

4.

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 Business School
Downloads 485 (82,017)
Citation 5

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

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 Business School and Durham University Business School
Downloads 447 (90,377)
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 Business School
Downloads 443 (91,330)
Citation 1

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

7.

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 Business School
Downloads 391 (106,194)
Citation 2

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

8.

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 322 (130,718)

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

9.

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 312 (134,997)
Citation 1

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

10.

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 280 (151,222)
Citation 1

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

11.

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 267 (158,596)

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

12.

Valuation Effects of Overconfident CEOs on Corporate Diversification and Refocusing Decisions

Downloads 258 (164,166)
Citation 1

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
Panayiotis C. Andreou, John A. Doukas, Demetris Koursaros and Christodoulos Louca
Cyprus University of Technology, Old Dominion University - Strome College of Business, Cyprus University of Technology - Department of Commerce and Cyprus University of Technology
Downloads 219 (191,806)

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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
Panayiotis C. Andreou, John A. Doukas, Demetris Koursaros and Christodoulos Louca
Cyprus University of Technology, Old Dominion University - Strome College of Business, Cyprus University of Technology - Department of Commerce and Cyprus University of Technology
Downloads 39 (583,660)
Citation 1

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

13.

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 250 (169,342)
Citation 1

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

14.

Firm Growth Potential and Option Returns

Georgetown McDonough School of Business Research Paper No. 3874674
Number of pages: 61 Posted: 14 Jul 2021
Panayiotis C. Andreou, Turan G. Bali, Anastasios Kagkadis and Neophytos Lambertides
Cyprus University of Technology, Georgetown University - McDonough School of Business, Lancaster University - Department of Accounting and Finance and Cyprus University of Technology
Downloads 216 (194,662)

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

15.

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 Business School and Durham University Business School
Downloads 181 (228,115)
Citation 2

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

16.

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
Panayiotis C. Andreou, Anastasios Kagkadis, Dennis Philip and Abderrahim Taamouti
Cyprus University of Technology, Lancaster University - Department of Accounting and Finance, Durham University Business School and University of Liverpool Management School
Downloads 152 (264,051)
Citation 1

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

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 Business School
Downloads 135 (289,864)
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 121 (314,534)

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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
Panayiotis C. Andreou, Franco Fiordelisi, Terry Harris and Dennis Philip
Cyprus University of Technology, University of Essex - Essex Business School, Durham University Business School and Durham University Business School
Downloads 103 (351,351)

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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 85 (396,277)

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

21.

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 83 (401,844)

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

22.

Bank Opaqueness and Intermediation

Number of pages: 48 Posted: 20 Jan 2017 Last Revised: 02 Feb 2017
Panayiotis C. Andreou, Demetris Koursaros, Dennis Philip and Peter Paul Robejsek
Cyprus University of Technology, Cyprus University of Technology - Department of Commerce, Durham University Business School and PwC Strategy&
Downloads 50 (518,501)

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Financial Institutions, Liquidity Creation, Regulation, Opacity

23.

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 50 (518,501)

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

24.

Customer Orientation and Financial Performance During Crisis Periods

Number of pages: 35 Posted: 30 Mar 2022
Panayiotis C. Andreou, Neophytos Lambertides, Lenos Trigeorgis and Ruslan Tuneshev
Cyprus University of Technology, Cyprus University of Technology, University of Cyprus - Department of Public and Business Administration and University of St Andrews
Downloads 44 (546,006)

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Customer Orientation, Stock Returns, Financial Performance, Trust, CSR, Financial Crisis, COVID-19, Textual Analysis

25.

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

26.

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

27.

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 Business School and PwC Strategy&
Downloads 0 (889,999)
Citation 2

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financial institutions, managerial ability, liquidity creation, risk‐taking, financial crisis

28.

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

29.

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