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

33

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Scholarly Papers (33)

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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: 19 Nov 2022
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 1,266 (28,459)
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

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 1,070 (36,270)
Citation 37

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Crash Risk, Corporate Governance

3.

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 978 (41,211)
Citation 2

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

4.

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 544 (88,931)
Citation 8

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

5.

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 524 (93,259)
Citation 5

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

6.

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 475 (105,033)
Citation 3

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

7.

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 464 (107,978)
Citation 1

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

8.

Financial literacy and its influence on internet banking behaviour

Number of pages: 41 Posted: 26 Dec 2019 Last Revised: 19 Nov 2022
Panayiotis C. Andreou and Sofia Anyfantaki
Cyprus University of Technology and Bank of Greece
Downloads 461 (108,814)
Citation 1

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

9.

Firm Growth Potential and Option Returns

Georgetown McDonough School of Business Research Paper No. 3874674
Number of pages: 63 Posted: 25 Apr 2023 Last Revised: 13 Jul 2023
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 454 (110,765)

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Option returns, firm growth potential, growth options, jumps, market beta, volatility risk premium

10.

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 367 (141,371)
Citation 2

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

11.

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 363 (143,130)

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

12.

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 362 (143,583)
Citation 1

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

13.

A critique of the agency theory viewpoint of stock price crash risk: The opacity and overinvestment channels

British Journal of Management
Number of pages: 59 Posted: 01 Mar 2021 Last Revised: 21 Jan 2023
Panayiotis C. Andreou, Neophytos Lambertides and Marina Magidou
Cyprus University of Technology, Cyprus University of Technology and University of Central Lancashire - Cyprus
Downloads 348 (149,806)
Citation 3

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

14.

Valuation Effects of Overconfident CEOs on Corporate Diversification and Refocusing Decisions

Downloads 309 (170,080)
Citation 2

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 241 (217,870)

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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 68 (578,304)
Citation 2

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

15.

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 268 (196,970)
Citation 1

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

16.

Financial Literacy for Financial Resilience: Evidence From Cyprus During the Pandemic Period

Downloads 201 (259,431)

Financial Literacy for Financial Resilience: Evidence From Cyprus During the Pandemic Period

Number of pages: 45 Posted: 03 Jan 2023
Panayiotis C. Andreou, Sofia Anyfantaki and Adele Atkinson
Cyprus University of Technology, Bank of Greece and University of Birmingham
Downloads 154 (327,345)

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financial literacy, financial resilience, financial fragility, rainy-day funds, COVID-19, personal finance, financial education

Financial literacy for financial resilience: evidence from Cyprus during the pandemic period

Bank of Greece Working Paper No. 313
DOI: https://doi.org/10.52903/wp2022313
Number of pages: 48 Posted: 22 Mar 2023
Panayiotis C. Andreou, Sofia Anyfantaki and Adele Atkinson
Cyprus University of Technology, Bank of Greece and University of Birmingham
Downloads 47 (694,003)

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financial literacy,financial resilience,financial fragility,rainy-day funds,COVID-19,personal finance,financial education

17.

Overinvestment and Stock Price Crashes: Evidence from Mergers and Acquisitions

Number of pages: 51 Posted: 23 Mar 2021 Last Revised: 11 Aug 2022
Panayiotis C. Andreou, Konstantinos Bozos and Evridiki Panayi
Cyprus University of Technology, Leeds University Business School and University of Leeds - Faculty of Business
Downloads 189 (274,220)

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stock price crash risk, overinvestment, bad news hoarding, mergers and acquisitions, crash risk channels, agency theory

18.

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 174 (294,888)
Citation 2

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

19.

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 173 (296,408)
Citation 3

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

20.

Stock Price Crash Risk and the Managerial Rhetoric Mechanism: Evidence from R&D Disclosure in 10-K filings

Number of pages: 70 Posted: 24 Jul 2021 Last Revised: 12 Sep 2023
Panayiotis C. Andreou, Neophytos Lambertides and Marina Magidou
Cyprus University of Technology, Cyprus University of Technology and University of Central Lancashire - Cyprus
Downloads 167 (305,368)
Citation 3

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Stock price crash risk, Managerial rhetoric channel, Narrative disclosure, Textual analysis, 10-K filings, Research and development, Agency theory, Corporate governance

21.

Financial Literacy and its Influence on Consumers’ Internet Banking Behaviour

Bank of Greece Working Paper No. 275
Number of pages: 44 Posted: 30 Aug 2022
Sofia Anyfantaki and Panayiotis C. Andreou
Bank of Greece and Cyprus University of Technology
Downloads 131 (371,658)

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

22.

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 128 (378,219)
Citation 5

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

23.

Customer Orientation and Stock Resilience During Adversity Periods

Number of pages: 60 Posted: 30 Mar 2022 Last Revised: 22 Aug 2023
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 125 (385,151)

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Customer Orientation, Stock Returns, Corporate Resilience, Trust, Financial Crisis, COVID-19, Textual Analysis, 10-K filings

24.

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 110 (422,970)

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

25.

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 85 (501,988)

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Financial Institutions, Liquidity Creation, Regulation, Opacity

26.

Extremal Quantiles and Stock Price Crashes

Forthcoming in Econometric Reviews
Number of pages: 45 Posted: 31 May 2023 Last Revised: 28 Jul 2023
Panayiotis C. Andreou, Sofia Anyfantaki, Esfandiar Maasoumi and Carlo Sala
Cyprus University of Technology, Bank of Greece, Emory University and ESADE Business School
Downloads 81 (516,662)
Citation 1

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Stock price crashes, Extremal quantiles, Extreme value theory, Quantile regression

27.

Stock options pricing via machine learning methods combined with firm characteristics

Number of pages: 43 Posted: 13 Apr 2023 Last Revised: 12 May 2023
Panayiotis C. Andreou, Chulwoo Han and Nan Li
Cyprus University of Technology, Sungkyunkwan University and Durham University
Downloads 78 (528,253)

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Option pricing, Semi-parametric model, Firm characteristics, Machine learning

28.

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 64 (588,219)

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

29.

Exploring Country Characteristics that Encourage Emissions Reduction

Number of pages: 63 Posted: 14 Nov 2023
Panayiotis C. Andreou, Sofia Anyfantaki, Christos Cabolis and Konstantinos Dellis
Cyprus University of Technology, Bank of Greece, IMD and University of Piraeus
Downloads 16 (923,635)

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Emissions, Institutions, Technological infrastructure, Skills, Innovation, EU ETS, Carbon emissions trading system

30.

Generalized parameter functions for option pricing

Journal of Banking & Finance, Volume 34, Issue 3, March 2010, Pages 633-646
Number of pages: 41 Posted: 17 Mar 2008 Last Revised: 30 Sep 2022
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 11 (973,122)
Citation 9

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

31.

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

32.

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

33.

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