Manolis G. Kavussanos

Athens University of Economics and Business - Department of Accounting and Finance

Professor

76 Patission St

TK 104 34 Athens

Greece

SCHOLARLY PAPERS

49

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Scholarly Papers (49)

Price Discovery, Causality and Forecasting in the Freight Futures Market

EFMA 2001 Lugano Meetings, Cass Business School Research Paper
Number of pages: 40 Posted: 23 May 2001
Manolis G. Kavussanos and Nikos K. Nomikos
Athens University of Economics and Business - Department of Accounting and Finance and Cass Business School, City University London
Downloads 845 (26,584)

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Futures Markets, Forecasting, Granger Causality, Generalised Impulse Response Analysis, Shipping.

Price Discovery, Causality and Forecasting in the Freight Futures Market

Review of Derivatives Research, Vol. 6, No. 3, 2003, 203 -230
Posted: 07 Feb 2014
Manolis G. Kavussanos and Nikos K. Nomikos
Athens University of Economics and Business - Department of Accounting and Finance and Cass Business School, City University London

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Futures markets, Forecasting, Granger causality, Generalised impulse analysis, Shipping

2.

An Investigation of the Lead-Lag Relationship in Returns and Volatility between Cash and Stack Index Futures: The Case of Greece

EFMA 2002 London Meetings
Number of pages: 28 Posted: 20 Jun 2002
Ilias Visvikis, Panayotis Alexakis and Manolis G. Kavussanos
Independent, Athens Stock Exchange and Athens University of Economics and Business - Department of Accounting and Finance
Downloads 769 (30,796)

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Stock Index Futures, Price Discovery, GARCH, Volatility Spillovers

3.

A Cross Sectional Analysis of Ship Maintenance Expenses

Number of pages: 27 Posted: 25 Apr 2005
Georgios (George) C. Bitros and Manolis G. Kavussanos
Athens University of Economics and Business - Department of Economics and Athens University of Economics and Business - Department of Accounting and Finance
Downloads 212 (141,197)

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Ship maintenance expenses, utilization

4.

Default Risk Drivers in Shipping Bank Loans

Kavussanos M.G. and Tsouknidis D.A., 2016. Default risk drivers in shipping bank loans. Transportation Research Part E: Logistics and Transportation Review, Forthcoming
Number of pages: 56 Posted: 28 Jul 2016 Last Revised: 13 Aug 2016
Manolis G. Kavussanos and Dimitris A. Tsouknidis
Athens University of Economics and Business - Department of Accounting and Finance and Cyprus University of Technology
Downloads 146 (196,309)

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Default Risk, Bank Loans, Credit Scoring Models, Shipping

5.

The Determinants of Credit Spead Changes in Global Shipping Bonds

Kavussanos, M.G., Tsouknidis, D.A., 2014. The determinants of credit spreads changes in global shipping bonds. Transportation Research Part E: Logistics and Transportation Review 70, 55-75.
Number of pages: 45 Posted: 07 Aug 2015
Manolis G. Kavussanos and Dimitris A. Tsouknidis
Athens University of Economics and Business - Department of Accounting and Finance and Cyprus University of Technology
Downloads 42 (409,248)

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Bond Spreads; Shipping Finance; Panel Data; Two-way clustered standard errors; Shipping.

6.

The Predictability of Non-Overlapping Forecasts: Evidence from a New Market

Multinational Finance Journal, Vol. 15, No. 1/2, p. 125-156, 2011
Number of pages: 32 Posted: 25 Jun 2015
Manolis G. Kavussanos and Ilias Visvikis
Athens University of Economics and Business - Department of Accounting and Finance and Department of Finance, School of Business Administration, American University of Sharjah
Downloads 10 (570,589)

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Cointegration; VECM and ARIMA Models; Forecasting; Futures Markets; Emerging Markets; Predictability

7.

The Lead-Lag Relationship between Cash and Stock Index Futures in a New Market

European Financial Management, Vol. 14, Issue 5, pp. 1007-1025, November 2008
Number of pages: 19 Posted: 16 Oct 2008
Manolis G. Kavussanos, Ilias Visvikis and Panayotis Alexakis
Athens University of Economics and Business - Department of Accounting and Finance, Independent and Athens Stock Exchange
Downloads 4 (608,274)
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8.

Shipping Transportation Finance and Investment: A Critical Survey of the Empirical Evidence Setting the Future Research Agenda

Posted: 08 Dec 2017
ICMA Centre, Henley Business School, Athens University of Economics and Business - Department of Accounting and Finance, ICMA Centre, Henley Business School, Cyprus University of Technology and Department of Finance, School of Business Administration, American University of Sharjah

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Survey Analysis, Shipping Finance and Investment, Transportation Finance, Company Valuation, Corporate Governance

9.

Risk and Return in Transportation and Other US and Global Industries

Risk and Return in Transportation and Other US and Global Industries, Kluwer Academic Publishers, 2001
Posted: 19 Apr 2014
Stelios Markoulis and Manolis G. Kavussanos
University of Cyprus - Department of Public and Business Administration and Athens University of Economics and Business - Department of Accounting and Finance

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10.

Comparisons of Volatility in the Dry-Cargo Ship Sector. Spot versus Time-Charters, and Smaller Versus Larger Vessels

Journal of Transport Economics and Policy, January 1996. Vol. XXX, No. 1,67-82
Posted: 18 Feb 2014
Manolis G. Kavussanos
Athens University of Economics and Business - Department of Accounting and Finance

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11.

Testing the Efficient Market Hypothesis Using Panel Data; With Application to the Athens Stock Exchange

Applied Economics Letters, Vol. 3, No. 2, 1996 pp.121-123
Posted: 18 Feb 2014
Everton Dockery and Manolis G. Kavussanos
University of Portsmouth, Department of Accounting and Finance and Athens University of Economics and Business - Department of Accounting and Finance

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12.

Highly Disaggregated Models of Seaborne Trade. An Empirical Model for Bilateral Dry-Cargo Flows in the World Economy

Maritime Policy and Management, 1996, Vol. 23, No 1, 27-43
Posted: 18 Feb 2014
Manolis G. Kavussanos
Athens University of Economics and Business - Department of Accounting and Finance

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13.

Price Risk Modelling of Different Size Vessels in the Tanker Industry Using Autoregressive Conditional Heteroskedasticity (ARCH) Models

The Logistics and Transportation Review, June 1996, Vol. 32, No 2, 161-176
Posted: 18 Feb 2014
Manolis G. Kavussanos
Athens University of Economics and Business - Department of Accounting and Finance

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14.

Risk and Return of US Water Transportation Stocks Over Time and Over Bull and Bear Market Conditions

Maritime Policy and Management, 1997, Vol. 24, No. 2,145-158
Posted: 18 Feb 2014
Stelios Markoulis and Manolis G. Kavussanos
University of Cyprus - Department of Public and Business Administration and Athens University of Economics and Business - Department of Accounting and Finance

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15.

The Dynamics of Time-Varying Volatilities in Different Size Second-Hand Ship Prices of the Dry-Cargo Sector

Applied Economics, Vol. 29, No. 4, 1997 pp. 433-443
Posted: 18 Feb 2014
Manolis G. Kavussanos
Athens University of Economics and Business - Department of Accounting and Finance

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16.

The Stock Market Perception of Industry Risk and Microeconomic Factors: The Case of the US Water Transportation Industry versus Other Transport Industries

Transportation Research, Part E (the Logistics and Transportation Review), July 1997, Vol. 33, No. 2, 147-158
Posted: 18 Feb 2014
Stelios Markoulis and Manolis G. Kavussanos
University of Cyprus - Department of Public and Business Administration and Athens University of Economics and Business - Department of Accounting and Finance

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17.

Beta Comparisons Across Industries - A Water Transportation Industry Perspective

Maritime Policy and Management, 1998, Vol. 25, No 2, 175-184
Posted: 18 Feb 2014
Stelios Markoulis and Manolis G. Kavussanos
University of Cyprus - Department of Public and Business Administration and Athens University of Economics and Business - Department of Accounting and Finance

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18.

The Forward Pricing Function of the Shipping Freight Futures Market

The Journal of Futures Markets, May 1999, Vol. 19 No. 3, 353-376
Posted: 18 Feb 2014
Nikos K. Nomikos and Manolis G. Kavussanos
Cass Business School, City University London and Athens University of Economics and Business - Department of Accounting and Finance

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19.

The Stock Market Perception of Industry Risk Through the Utilization of a General Multifactor Model

International Journal of Transport Economics, February 2000, Vol. XXVII, No. 1, 77-98,
Posted: 18 Feb 2014
Stelios Markoulis and Manolis G. Kavussanos
University of Cyprus - Department of Public and Business Administration and Athens University of Economics and Business - Department of Accounting and Finance

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20.

Constant versus Time Varying Hedge Ratios and Hedging Efficiency in the Biffex Market

Transportation Research Part E (the Logistics and Transportation Review), December 2000, Vol. 36, No 4, Pp. 229-248,
Posted: 18 Feb 2014
Nikos K. Nomikos and Manolis G. Kavussanos
Cass Business School, City University London and Athens University of Economics and Business - Department of Accounting and Finance

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21.

The Stock Market Perception of Industry Risk and Macroeconomic Factors: The Case of the US Water Transportation Industry Versus Other Transport Industries

International Journal of Maritime Economics, July-September 2000, Vol. 2, No 3, 235-256
Posted: 18 Feb 2014
Stelios Markoulis and Manolis G. Kavussanos
University of Cyprus - Department of Public and Business Administration and Athens University of Economics and Business - Department of Accounting and Finance

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22.

Futures Hedging when the Composition of the Underlying Asset Changes; The Case of the BIFFEX Contract

The Journal of Futures Markets, September 2000, Vol. 20, No 8, pp 775-801
Posted: 18 Feb 2014
Nikos K. Nomikos and Manolis G. Kavussanos
Cass Business School, City University London and Athens University of Economics and Business - Department of Accounting and Finance

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23.

Hedging in the Freight Futures Market

Journal of Derivatives, Vol. Fall, No. 2000, pp. 41 - 58
Posted: 18 Feb 2014
Nikos K. Nomikos and Manolis G. Kavussanos
Cass Business School, City University London and Athens University of Economics and Business - Department of Accounting and Finance

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24.

Seasonality Patterns in Dry Bulk Shipping Spot and Time-Charter Freight Rates

Transportation Research Part E, Logistics and Transportation Review, 2001, Vol. 37, No 6, 443-467
Posted: 18 Feb 2014
Amir H. Alizadeh and Manolis G. Kavussanos
City University London - Sir John Cass Business School and Athens University of Economics and Business - Department of Accounting and Finance

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Shipping; Dry bulk freight markets; Seasonality; Market conditions; Seasonal unit roots

25.

A Multivariate Test for Stock Market Efficiency: The Case of ASE

Applied Financial Economics, Vol. 11, No. 5, 2001 pp. 573-579
Posted: 18 Feb 2014
Everton Dockery and Manolis G. Kavussanos
University of Portsmouth, Department of Accounting and Finance and Athens University of Economics and Business - Department of Accounting and Finance

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26.

Seasonality Patterns in Tanker Shipping Freight Markets

Economic Modelling, Nov. 2002, Vol. 19, Issue 5, 747-782
Posted: 18 Feb 2014
Amir H. Alizadeh and Manolis G. Kavussanos
City University London - Sir John Cass Business School and Athens University of Economics and Business - Department of Accounting and Finance

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Shipping; Seasonality; Tanker freight rates; Markov switching; Market conditions; Forecasting

27.

Efficient Pricing of Ships in the Dry Bulk Sector of the Shipping Industry

Maritime Policy and Management, 2002, Vol. 29, No 3, 303 - 330
Posted: 18 Feb 2014
Amir H. Alizadeh and Manolis G. Kavussanos
City University London - Sir John Cass Business School and Athens University of Economics and Business - Department of Accounting and Finance

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28.

Macroeconomic Factors and International Industry Returns

Applied Financial Economics, Vol. 12, No. 12, 2002, pp. 923 - 931
Posted: 18 Feb 2014
Stelios Markoulis and Manolis G. Kavussanos
University of Cyprus - Department of Public and Business Administration and Athens University of Economics and Business - Department of Accounting and Finance

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29.

The Expectations Hypothesis of the Term Structure and Risk Premia in Dry Bulk Shipping Freight Markets; An Egarch-M Approach

Journal of Transport Economics and Policy, May 2002, Vol. 36, Part 2, pp. 267-304
Posted: 18 Feb 2014
Amir H. Alizadeh and Manolis G. Kavussanos
City University London - Sir John Cass Business School and Athens University of Economics and Business - Department of Accounting and Finance

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30.

International Comparison of Market Risks Across Shipping Related Industries

Maritime Policy and Management, 2003, Vol. 30, No 2, 107-122
Posted: 18 Feb 2014
Matthew Forrest and Manolis G. Kavussanos
Independent and Athens University of Economics and Business - Department of Accounting and Finance

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31.

Time Varying Risks Among Segments of the Tanker Freight Markets

Maritime Economics and Logistics, Vol. V, No. 3, 2003 pp. 227-250
Posted: 18 Feb 2014
Manolis G. Kavussanos
Athens University of Economics and Business - Department of Accounting and Finance

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32.

Hedging Against Bunker Price Fluctuations Using Petroleum Futures Contracts; Constant vs Time Varying Hedge Ratios

Applied Economics, Vol. 36, No. 12, 2004 pp. 1337-1353
Posted: 18 Feb 2014
David A Menachof, Amir H. Alizadeh and Manolis G. Kavussanos
Hull University Business School (HUBS), City University London - Sir John Cass Business School and Athens University of Economics and Business - Department of Accounting and Finance

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33.

Market Interaction in Returns and Volatilities between Spot and Forward Shipping Freight Markets

Journal of Banking and Finance, Vol. 28, No. 8, 2004 pp. 2015-2049
Posted: 18 Feb 2014
Ilias Visvikis and Manolis G. Kavussanos
Independent and Athens University of Economics and Business - Department of Accounting and Finance

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Price discovery; Futures and forward markets; Granger causality; VECM-GARCH; Volatility

34.

The Unbiasdness Hypothesis in the Freight Forward Market: Evidence from Cointegration Tests

Review of Derivatives Research, Vol. 7, No. 3, 2004, pp 241-266
Posted: 12 Feb 2014
Ilias Visvikis, David A Menachof and Manolis G. Kavussanos
Independent, Hull University Business School (HUBS) and Athens University of Economics and Business - Department of Accounting and Finance

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forward markets, cointegration, unbiasedness, shipping.

35.

Shipping Freight Derivatives: A Survey of Recent Evidence

Maritime Policy and Management, July 2006, Vol. 33, No 3, 233-255
Posted: 12 Feb 2014
Ilias Visvikis and Manolis G. Kavussanos
Independent and Athens University of Economics and Business - Department of Accounting and Finance

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36.

An Investigation of the Use of Risk Management and Shipping Derivatives -- The Case of Greece

International Journal of Transport Economics, February 2007
Posted: 12 Feb 2014
Ilias Visvikis and Manolis G. Kavussanos
Independent and Athens University of Economics and Business - Department of Accounting and Finance

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Business Risks, Shipping Derivatives, Hedging, Risk Management, Shipping

37.

Hedging Effectiveness of the Athens Stock Exchange Futures Index Contracts

The European Journal of Finance, April 2008, Vol. 14, No 3, pp 243-270
Posted: 12 Feb 2014
Ilias Visvikis and Manolis G. Kavussanos
Independent and Athens University of Economics and Business - Department of Accounting and Finance

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hedging effectiveness; futures markets; constant and time-varying hedge ratios; utility

38.

Cross Industry Comparisons of the Behaviour of Stock Returns

Shipping Economics, Research in Transportation Economics, Vol 12, Chapter 4, 107-142, Elsevier Ltd, 2005
Posted: 08 Feb 2014
Manolis G. Kavussanos and Stelios Markoulis
Athens University of Economics and Business - Department of Accounting and Finance and University of Cyprus - Department of Public and Business Administration

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39.

The Hedging Performance of Stock Index Futures: The Case of the Athens Derivatives Exchange

8th Annual European Conference of the Financial Management Association International (FMA), Zurich, Switzerland, 2-5 June 2004
Posted: 08 Feb 2014
Manolis G. Kavussanos and Ilias Visvikis
Athens University of Economics and Business - Department of Accounting and Finance and Department of Finance, School of Business Administration, American University of Sharjah

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Hedging Effectiveness, Futures Markets, Constant and Time-Varying Hedge Ratios, Utility Functions, VECM-GARCH-X

40.

The Option to Change the Flag of a Vessel

The International Handbook of Maritime Economics, 47-62, 2011, Edward Elgar Publishing
Posted: 08 Feb 2014
Manolis G. Kavussanos and Andrianos E. Tsekrekos
Athens University of Economics and Business - Department of Accounting and Finance and Athens University of Economics and Business - Department of Accounting and Finance

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41.

The Predictability of Non-Overlapping Forecasts: Evidence from a New Market

Multinational Finance Journal, Vol 15, no.1/2, pp.125-156, 2011
Posted: 07 Feb 2014
Ilias Visvikis and Manolis G. Kavussanos
Independent and Athens University of Economics and Business - Department of Accounting and Finance

Abstract:

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Cointegration; VECM and ARIMA Models; Forecasting; Futures Markets; Emerging Markets; Predictability

42.

Market Risk Model Selection and Medium-Term Risk with Limited Data: Application to Ocean Tanker Freight Markets

International Review of Financial Analysis, Vol. 20, 2011 258-268
Posted: 07 Feb 2014
Manolis G. Kavussanos and Dimitris Dimitrakopoulos
Athens University of Economics and Business - Department of Accounting and Finance and Independent

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Freight rate risk, Shipping, Tankers, Value at Risk, Expected tail loss

43.

Value at Risk Models for Volatile Emerging Markets Equity Portfolios

The Quarterly Review of Economics and Finance 50 (4) 515–526
Posted: 07 Feb 2014
Manolis G. Kavussanos, Dimitris Dimitrakopoulos and Spyros I. Spyrou
Athens University of Economics and Business - Department of Accounting and Finance, Independent and Athens University of Economics and Business - Department of Accounting and Finance

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Emerging stock markets, Risk management, Value at Risk

44.

An Examination of the Relationship between Stock Return and Trading Activity Under Different Trading Systems

Greek Economic Review, Vol. 21, No 1, 19-36, Spring 2001
Posted: 07 Feb 2014
Manolis G. Kavussanos and Kate Phylaktis
Athens University of Economics and Business - Department of Accounting and Finance and City University London - Sir John Cass Business School

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45.

Price Limits and the Stock Market Volatility in the Athens Stock Exchange

European Financial Management, Vol. 5, No. 1,1999, 69-84
Posted: 07 Feb 2014
Manolis G. Kavussanos, Kate Phylaktis and Gikas Manalis
Athens University of Economics and Business - Department of Accounting and Finance, City University London - Sir John Cass Business School and Hellenic Exchanges Holdings SA

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price limits and volatility, emerging capital markets, ARCH/GARCH modelling, Athens Stock Exchange

46.

The Outlook of the World Shipping Markets, 1988-2000

Economic Review, 1988, City University Business School
Posted: 07 Feb 2014
Manolis G. Kavussanos and Andreas Vergottis
Athens University of Economics and Business - Department of Accounting and Finance and Independent

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47.

Over-the-Counter Forward Contracts and Spot Price Volatility in Shipping

Cass Business School Research Papers
Posted: 26 Apr 2003 Last Revised: 17 Feb 2014
Roy Batchelor, Manolis G. Kavussanos and Ilias Visvikis
City University Business School, Athens University of Economics and Business - Department of Accounting and Finance and Independent

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48.

Price Limits and Stock Market Volatility in the Athens Stock Exchange

European Financial Management, Vol. 5, No. 1, March 1999, Cass Business School Research Paper
Posted: 25 Oct 1998
Gikas Manalis, Kate Phylaktis and Manolis G. Kavussanos
Hellenic Exchanges Holdings SA, City University London - Sir John Cass Business School and Athens University of Economics and Business - Department of Accounting and Finance

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Stock Prices and the Flow of Information in the Athens Stock Exchange

EUROPEAN FINANCIAL MANAGEMENT, Vol. 2 No. 1, March 1996, Cass Business School Research Paper
Posted: 29 Apr 1998
Gikas Manalis, Kate Phylaktis and Manolis G. Kavussanos
Hellenic Exchanges Holdings SA, City University London - Sir John Cass Business School and Athens University of Economics and Business - Department of Accounting and Finance

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Stock Prices and the Flow of Information in the Athens Stock Exchange

European Financial Management, Vol.2, No. 1, 1996, 113-126
Posted: 07 Feb 2014
Manolis G. Kavussanos, Kate Phylaktis and Gikas Manalis
Athens University of Economics and Business - Department of Accounting and Finance, City University London - Sir John Cass Business School and Hellenic Exchanges Holdings SA

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