Academic Credentials

• Ph.D., Department of Business Administration, University of Piraeus, Greece (2012).
• M.Sc., Department of Banking and Financial Management, University of Piraeus, Greece (2008). 
• B.Sc., Department of Banking and Financial Management, University of Piraeus, Greece (2006).  

Professional Experience

• Senior Research Fellow. Centre of Planning and Economic Research (since Dec. 2014).
• Adjunct Lecturer, Open University of Cyprus (2013-2015, 2017-2021).
• Adjunct Lecturer, Hellenic Open University (2014-2017, 2020-2021).
• Adjunct Lecturer, International Hellenic University (2018-2019)
• Lecturer, Business College of Athens (BCA) (Feb. 2012 – Jun. 2013).
• Teaching Support, University of Piraeus E-learning Programs (Jan. 2010 – Feb. 2013).
• Mutual funds analyst for the Greek financial newspaper Kerdos, University of Piraeus Research Centre (Feb. 2008 – Dec. 2009).

 Honours and Awards

• Scholarship for doctoral studies (Oct. 2008 – Oct. 2012), Alexander S. Onassis Public Benefit Foundation, Greece.
• Scholarship for postgraduate studies (Sept. 2006 – Sept. 2008), Department of Banking and Financial Management, University of Piraeus.
• Scholarship for academic excellence (2005-2006), Department of Banking and Financial Management, University of Piraeus.

Publications & Research Output

Refereed Articles in Journals

• “Feedback trading: a review of theory and empirical evidence.” (2022). Review of Behavioral Finance, forthcoming. (with C. Gavriilidis, B. Gebka, V. Kallinterakis.)
• “Estimating excise tax revenue elasticity and buoyancy for tobacco products and alcoholic beverages: Evidence from Greece.” (2022). Applied Economics, 54(39), 4557-4576. (with I. Kountouri, Y. Panagopoulos, G. Skintzi, A. Tsouma.)
  
• “Herding in frontier markets: evidence from the Balkan region.” (2020). Review of Behavioral Finance, 12 (2), 119-135.
• “Economic freedom and asymmetric crisis effects on FDI inflows: The case of four South European economies.” (2019). Research in International Business and Finance, 49, 114-126.
• “Large fire disaster and the regional economy: Τhe 2007 case of the Peloponnese.” (2019). South Eastern Europe Journal of Economics, 17(1), 7-31. (with P. Prodromidis, G. Skintzi)
  
• “Uncovering asymmetries in the relationship between fear and the stock market using a hidden co-integration approach.” (2018). Research in International Business and Finance, 44, 459-470. (with Y. Panagopoulos, E. Tsouma)
  
• “Investors’ fear and herding in the stock market.” (2018). Applied Economics, 50 (34-35), 3654-3663. (with C. Hassapis, N. Philippas)
  
• “Foreign Direct Investment Determinants in OECD and Developing Countries.” (2017). Review of Development Economics, 21(3), 527-542. (with C. Hassapis, N. Philippas, Μ. Tsionas)
• “Testing for herding in the Athens Stock Exchange during the crisis period.” (2016). Finance Research Letters, 18, 334-341. (with E. Katsikas, G. Vickers)
• “Real Estate Returns Predictability Revisited: Novel Evidence from the US REITs Market.” (2016). Empirical Economics, 51, 1165–1190. (with K. Akinsomi, G.C. Aye,  V. Babalos, R. Gupta)
• “Real Estate Market and Uncertainty Shocks: A novel variance causality approach.” (2015). Frontiers in Finance and Economics, 12(2), 56-85. (with A.N. Ajmi, V. Babalos, R. Gupta.)
• “Foreign direct investment inflows determinants in four South European economies” (2015). Investment Management and Financial Innovations, 12(3), 68-75. (with C. Hassapis)  
• “Do fund managers herd in frontier markets - and why?” (2015). International Review of Financial Analysis, 40, 76-87. (with C. Gavriilidis, V. Kallinterakis, N. Yordanov)
• “Herding Dynamics in Exchange Groups: Evidence from Euronext.” (2015). Journal of International Financial Markets, Institutions and Money, 34, 228-244. (with K. Gavriilidis, A. Goyal, V. Kallinterakis)
• “Herding behavior in REITs: Novel tests and the role of financial crisis.” (2013). International Review of Financial Analysis, 29, 166–174. (with V. Babalos, A. Kostakis, Ν. Philippas)
• “Cross-country effects in herding behaviour: Evidence from four South-European markets.” (2011). Journal of International Financial Markets, Institutions and Money, 21 (3), 443-460. (with A. Kostakis, N. Philippas)
• “Herding behaviour in extreme market conditions: the case of the Athens Stock Exchange.” (2008). Economics Bulletin, 7 (17), 1-13. (with G.M. Caporale, N. Philippas)

Contributions in Collective Volumes

• “The performance of Western Greece vis-à-vis the Greek and the EU regions based on indices” (2018). In Essays on Regional Entrepreneurship and Development. Eds. F. Economou, A. Kontolaimou, E. Tsouma. Region of Western Greece, Patras.
• “Herding in the Athens Stock Exchange during different crisis periods.” (2017). In Handbook of Investors' Behavior During Financial Crises. Eds. F. Economou, K. Gavriilidis, G. Gregoriou, V. Kallinterakis. Elsevier. 303-317.
• “Herd Behavior in Frontier Markets: Evidence from Nigeria and Morocco.” (2016). Handbook of Frontier Markets, The African, European and Asian Evidence. Eds. P. Andrikopoulos, G. Gregoriou, V. Kallinterakis. Elsevier. Vol.1, 55-69.
• "Herd behaviour in the Athens Stock Exchange" (2012). Volume in honor of Professor S. Karvounis, Department of Business Administration, University of Piraeus, pp. 537-551. (with N. Philippas)

Books / Monographs

• "Excise taxes on tobacco products and alcoholic beverages in Greece: Revenues and elasticities" (with E. Tsouma (co-ordinator), I. Kountouri, Y. Panagopoulos, G. Skintzi). Forthcoming, KEPE STUDIES series No. 81.
• "Economic Crisis and Deposits: Greece and Southern Europe" (with C. Triantopoulos) (2018). KEPE STUDIES series No. 79.
• “Behavioral Finance - Understanding the psychology of investors in investment decisions” (2012), Ph.D. thesis, University of Piraeus, Greece.

Contributions in KEPE collaborations regarding Development Plans and related projects

• A plan for the development of G2B e-services in Apuglia and Western Greece. (2019-2020). Interreg Greece-Italy 2014-2020. The study was supervised by P.Prodromidis and prepared for the Regional Development Fund of Western Greece.

• The Regional Development Plan of Western Greece: 2014-20. (2015-2017). The study was supervised by P.Prodromidis and prepared for the Regional Council and the Regional Development Fund of Western Greece. [in Greek]
• Growth plan for the Greek Government. (2016). Author of the chapters Improvement of business taxation system and Stock market. The study was coordinated by Ε. Athanassiou, P. Vlamis and V. Lychnaras,  Athens: Ministry of Finance, Development and Tourism. [in Greek]
• Administrative Reform and Functional Modernization of Social Security Structures. (2014). The study was coordinated by Dr. N. Kanellopoulos.
• Illicit Tobacco Trade in Greece. (2014). The study was coordinated by Dr. N. Georgikopoulos.
• Development Prospects of the Greek Pharmaceutical Industry for Domestic and International Market. (2014). [in Greek]
• Tax Policy on tobacco products in Greece. The government revenue and illicit tobacco trade. (2014). [in Greek]
• Construction of the “Greek Fear Index” KEPE GRIV for Greece. (2014). [in Greek]
• The Development Vision for Greece 2020: Provisions, development requirements and funding mechanisms (2013). Author of the chapter 5.4 Foreign Direct Investment. The study was coordinated by Dr. E. Athanasiou, Dr. Th. Tsekeris and Dr. E. Tsouma. Athens: Ministry of Development and Competitiveness. [in Greek]

 Other contributions regarding Development Plans and related projects

• Evaluation of alternative operation and growth projects of the Piraeus Port Authority. (2007). University of Piraeus Research Centre.
• Alternative methods of participation of employees in the growth of the Piraeus Port Authority with emphasis on Stock Option Plans. (2007). University of Piraeus Research Centre.

 Scholarly Publications in Greek Journals

• “Expected losses in the stock market due to the pandemic.” (2020). Greek Economic Outlook, KEPE, 42. Forthcoming.

• “Developments in the Greek capital market.” (2020). Greek Economic Outlook, KEPE, 41: 64-69.
• “The evolution and structure of public debt” (2020). Greek Economic Outlook, KEPE, 41: 24-29.
• “The evolution and structure of public debt” (2019). Greek Economic Outlook, KEPE, 40: 22-27.
• “Developments in the Greek capital market.” (2019). Greek Economic Outlook, KEPE, 38: 59-63.
• “Applying behavioural insights to policy-making”. (2018). Greek Economic Outlook, KEPE, 36: 91-101.
• “Developments in the Greek capital market”. (2018). Greek Economic Outlook, KEPE, 35: 54-60.
• “The determinants of NPLs during the economic crisis: a panel econometric approach”. (2016). Greek Economic Outlook, KEPE, 30: 54-60. (with Y. Panagopoulos and I. Peletidis)
• “Developments in the Greek capital market”. (2016). Greek Economic Outlook, KEPE, 30: 45-48.
• “The impact and the evolution of investment psychology in the Greek stock market”. Greek Economic Outlook, KEPE, 29: 79-86.
• «Economic Outlook». (with C. Triantopoulos). (2015). Greek Economy, KEPE, 21: 5-12.
  
• “Α multidimensional comparison of Greek regions with the EU regions using a new index”. (2015). Greek Economy, KEPE, 17: 18-31.
• “Implied volatility index KEPE GRIV: evolution and reaction to elections”. (with Prof. C. Siriopoulos). (2015). Greek Economy, KEPE, 15: 29-35.
• “Fear indices - barometers of global investment psychology: the international experience”.  (2014). Greek Economy, KEPE, 4: 27-32.
• “Foreign direct investment as a lever for economic growth”. (2014). Greek Economy, ΚΕΠΕ, 2: 17-24.

Presentations in International Conferences

• “Estimating demand elasticities for tobacco products and alcoholic beverages: the case of Greece.” (In collaboration with I. Kountouri, Y. Panagopoulos, G. Skintzi, E. Tsouma.) International Conference on Business & Economics of the Hellenic Open University 2018. Athens, Greece, May 11-12, 2018.
• “The economic performance of Western Greece vis-à-vis other Greek and EU regions via a set of common indicators.” International Conference on Growth and Entrepreneurship in Western Greece, Patras, Greece, December 13-15, 2017.
• “An examination of the economic impact of the 2007 megafire in the Peloponnese.” (with P. Prodromidis, G. Skintzi) 2^nd International Conference in Applied Theory, Macro and Empirical Finance, May 6-7, 2016, Thessaloniki, Greece.
• “The determinants of household deposits: Evidence from four South European countries” (with C. Triantopoulos) (a) International Conference on Business & Economics of the Hellenic Open University 2016, April 22-23, 2016, Athens, Greece (b) 2^nd International Conference in Applied Theory, Macro and Empirical Finance, May 6-7, 2016, Thessaloniki, Greece.
• “The Impact of “Fear” on Herding Estimations” (with C. Hassapis, N. Philippas), (a) Spring 2015 Conference of the Multinational Finance Society, April 17-19, 2015, Larnaca, Cyprus. (b) 22^nd Annual Conference of the Multinational Finance Society, June 28- July1, 2015, Chalkidiki, Greece.
• “Modeling credit and investment decisions based on behavioral pathways” (with W. Rodgers), Winter 2014 Conference of the Multinational Finance Society, Athens, 14-16/12/2014.
• “Foreign Direct Investment Inflows: Evidence from four highly distressed European economies” (with C. Hassapis), (a) 21^st Annual Conference of the Multinational Finance Society, Prague, 29/6/2014-2/7/2014. (b) BAFA 2014 Annual Conference, London School of Economics, 14-16/4/2014, London, UK. (c) International Conference on Business & Economics of the Hellenic Open University 2015, February 6-7, 2015, Athens, Greece.
• “Foreign direct investment determinants in OECD countries” (with C. Hassapis, N. Philippas, E. Tsionas), (a) ICABE 2014, International Conference on Applied Business & Economics, Delphi, 23-25 October 2014. (b) 13^th Annual European Economics and Finance Society (EEFS) Conference, Thessaloniki, Greece, 12–15/6/2014.
• “Herding Dynamics in Exchange Groups: Evidence From Euronext” (with C. Gavriilidis, V. Kallinterakis), 2014 Multinational Finance Society Symposium, April 4-5, 2014, Larnaca, Cyprus.
• “Do Fund Managers Herd in Frontier Markets – and Why?” (with C. Gavriilidis, V. Kallinterakis, N. Yordanov), 20^th Annual Conference of the Multinational Finance Society, June 30 - July 2, 2013, Izmir, Turkey.
• “Herding under extreme market conditions: Evidence from the US stock market” (with C. Gavriilidis, V. Kallinterakis), International Conference on Economics and Business, Onasssis Foundation Scholars, 13 May 2013.
• “An Examination of Herd Behaviour in REITs” (with N. Philippas, V. Babalos, A. Kostakis), (a) 11^th Biennial Athenium Policy Forum, “Asymmetric Economic Consequences of the Global Financial Crisis”, Chalkidiki, Greece, 1-3 July 2012. (b) 71^st International Atlantic Economic Conference, Athens, Greece. 16-19 March 2011.
• “An Examination of Herd Behavior in Four Mediterranean Stock Markets” (with  A. Kostakis, N. Philippas). (a) 9^th Annual Conference European Economics and Finance Society (E.E.F.S.), Athens, Greece on 3^rd - 6^th June 2010. (b) 69^th International Atlantic Economic Conference, Prague, Czech Republic, 24-27 March 2010.
• “Herd behavior in extreme market conditions: The case of the Athens Stock Exchange” (with N. Philippas). 67^th International Atlantic Economic Conference, Rome, Italy, 11-14/3/2009.

Presentations in National Conferences, Seminars and Meetings

• “Testing for the impact of economic freedom and asymmetric crisis effects on FDI inflows: The case of four South European economies”. 9^th National Conference of the Financial Engineering and Banking Society (FEBS), Athens, December 21-22, 2018.
• “Herding in frontier markets: evidence from the Balkan region”. 17^th Annual Conference of the Hellenic Finance and Accounting Association (H.F.A.A.), Piraeus, December 14-15, 2018.
• “Empirical investigation of the determinants of household deposits in Greece” (with C. Triantopoulos) 7^th National Conference of the Financial Engineering and Banking Society (FEBS), Athens, December 19-20, 2016.
• “The determinants of household deposits: Evidence from four South European countries” (with C. Triantopoulos) 1^st National Conference of the Hellenic Scientific Institute of Economics of Education, Lifelong Learning, Research and Innovation, Athens, July 1-3, 2016.
• “Testing for herding in the Athens Stock Exchange during the crisis period” (with E. Katsikas, G. Vickers). 6^th National Conference of the Financial Engineering and Banking Society (FEBS), Athens, December 20-21, 2015.
• "Τhe position of the Greek regions relative to the EU regions using a system of indices". (a) 13^th Scientific Conference of the Regional Science Association International (RSAI, ERSA). Institute of Regional Development, Athens, June 26-27, 2015. (b) 14^th Annual Conference of the Hellenic Finance and Accounting Association (H.F.A.A.), Athens, December 18-19, 2015.
• “Foreign Direct Investment Inflows: Evidence from four highly distressed European economies” (with C. Hassapis). (a) 4^th National Conference of the Financial Engineering and Banking Society (FEBS), December 20-21, 2013 (b) 12^th Annual Conference of the Hellenic Finance and Accounting Association (H.F.A.A.),Thessaloniki, December 13-14, 2013.
• “Do Fund Managers Herd in Frontier Markets – and Why?” (with C. Gavriilidis, V. Kallinterakis, N. Yordanov), 11^th Annual Conference of the Hellenic Finance and Accounting Association (H.F.A.A.), Athens, December 14-15, 2012.
• “An Examination of Herd Behaviour in REITs” (with N. Philippas, V. Babalos, A. Kostakis), (a) 10^th Annual Conference of the Hellenic Finance and Accounting Association (H.F.A.A.), Piraeus, 16-17 December 2011. (b) 2^nd National Conference of the Financial Engineering and Banking Society (FEBS), Athens, December 2-4, 2011.
• “Herd behavior in extreme market conditions: The case of the Athens Stock Exchange” (with N. Philippas). 7^th Annual Conference of the Hellenic Finance and Accounting Association (H.F.A.A.), Chania, Crete, 12-13/12/2008.

Citations

873 citations according to Google Scholar (h-index = 13, i10-index = 14, December 2021). 726 citations since 2016. The papers have been cited in journals such as (in alphabetical order):

• Applied Economics, Economic Modelling, Finance Research Letters, International Journal of Banking, Accounting and Finance, Emerging Markets Finance and Trade, International Review of Economics and Finance, International Review of Finance, International Review of Financial Analysis, Journal of Banking and Finance, Journal of Behavioral and Experimental Finance, Journal of Behavioral Finance, Journal of Economics and Finance, Journal of Economic Studies, Journal of Empirical Finance, Journal of International Financial Markets, Institutions and Money, Journal of Multinational Financial Management, Quantitative Finance, Research in International Business and Finance, Review of Accounting and Finance, Review of Behavioral Finance, The North American Journal of Economics and Finance, etc.
  

Teaching experience

Open University of Cyprus (2013-2015, 2017-2021)

• “Finance and Accounting”, Master in Business Administration - MΒΑ.

Hellenic Open University (2014-2017, 2020-2021)

• “Banking Strategy”, MSc. in Banking.

International Hellenic University (2018-2019)

• "Behavioral Finance", MSc in Banking and Finance.
  

Business College of Athens (BCA) (Feb. 2012 – Jun. 2013)

• “Multinational Finance”, Accounting and Finance Department,(Spring semester  2011-2012 and 2012-2013).
• “Introduction to Finance”, Accounting and Finance Department, (Spring semester 2012-2013).
• “Management Investigation and Report”, Business Administration Department , (Spring semester 2012-2013).
• “Financial Statement Analysis”, Shipping Department, (Winter semester 2012-2013).

University of Piraeus

• E-learning in Accounting and Finance, Department of Business Administration, University of Piraeus. University of Piraeus Research Centre (Feb. 2011- Feb. 2013).

• E-learning Program, Department of Banking and Financial Management University of Piraeus. University of Piraeus Research Centre (1/1/2010- 15/1/2011)

Other activities

Coordination and organization of activities

• Member of the Editorial Board of KEPE’s scientific journal Greek Economic Outlook since May 2019. 
• Coordination of the report “The economic effects of 2007 fires in Western Greece. (2015). prepared for the Regional Council and the Regional Development Fund of Western Greece.
• Member of the organizing committee of International Conference "Alliance for Entrepreneurship and Development in Western Greece", Patras, 13-15 December 2017.
• Participation in the organization and coordination of KEPE’s Conference, (a) Navarino, 9-11/5/2014, (b) Kyllini, 8-10/5/2015.
• Member of the organizing committee of the “Winter 2014 Conference of the Multinational Finance Society”, Athens, December 14-16, 2014, which was organized by KEPE, the Economic Chamber of Greece and the ΜΒΑ Chios of the University of the Aegean.
• Member of the organizing committee of the 10^th Annual Conference of the Hellenic Finance and Accounting Association (H.F.A.A.),Piraeus, 16-17 December 2011.
• Participation in the organization of Seminars for the Department of Business Administration, University of Piraeus (2010-2011).
• Participation in the organization of the International Conference of the Onassis Scholars Association titled “Financial and Economic Crisis: The return to stability”, 21 June 2010.

Referee for Academic Journals

• AESTIMATIO, the IEB International Journal of Finance
• African Development Review
• Applied Economics Letters
  
• Economic Modelling
• Emerging Markets Finance and Trade
• Empirical Economics
• Eurasian Economic Review
• Finance Research Letters
• Financial Innovation
  
• International Journal of Banking, Accounting and Finance
• International Journal of Emerging Markets
• International Journal of Finance and Economics
  
• International Review of Economics and Finance
• International Review of Financial Analysis
• Journal of International Financial Markets, Institutions and Money
• Journal of Economic Behavior and Organization
• Journal of Emerging Market Finance
  
• Multinational Finance Journal
• North American Journal of Economics and Finance
• Research in International Business and Finance
  
• Review of Behavioral Finance
  
• Spatial Economic Analysis
• Studies in Economics and Finance 
• The Journal of International Trade & Economic Development
• The Journal of Sustainable Finance & Investment

Memberships

• Member of the Greek Statistical Institute
• Member of the Economic Chamber of Greece
• Member of the Hellenic Finance and Accounting Association (H.F.A.A.).