Corporate Investment Decisions with Switch Flexibility, Constraints, and Path-dependency (2024)
Journal Article
Martzoukos, S., Trigeorgis, L., & Pospori, N. (2024). Corporate Investment Decisions with Switch Flexibility, Constraints, and Path-dependency. Review of Quantitative Finance and Accounting, https://doi.org/10.1007/s11156-023-01234-4

We model sequential, corporate investment decisions with time-to-build delays, operating scale mode switching, operating constraints, and path dependencies. We also account for stochastic salvage (abandonment) values that are utilization (path) depen... Read More about Corporate Investment Decisions with Switch Flexibility, Constraints, and Path-dependency.

Value Uncertainty (2023)
Journal Article
Bali, T. G., Del Viva, L., Hefnawy, M. E., & Trigeorgis, L. (2023). Value Uncertainty. Management Science, https://doi.org/10.1287/mnsc.2023.4888

We examine how time-series volatility of book-to-market (UNC) is priced in equity returns and the relative contributions of its book volatility (variations in earnings and book value) and market volatility components (shocks in required return). UNC... Read More about Value Uncertainty.

Enhancement in a firm's information environment via options trading and the efficiency of corporate investment (2023)
Journal Article
Anagnostopoulou, S. C., Trigeorgis, L., & Tsekrekos, A. E. (2023). Enhancement in a firm's information environment via options trading and the efficiency of corporate investment. Journal of Banking and Finance, 149, Article 106809. https://doi.org/10.1016/j.jbankfin.2023.106809

We examine the association between enhancement in a firm's information environment via options trading and firm investment efficiency. Investment inefficiency is partly driven by information asymmetries between firm managers and capital providers, ag... Read More about Enhancement in a firm's information environment via options trading and the efficiency of corporate investment.

Compete, Cooperate, or Both? Integrating the Demand Side into Patent Deployment Strategies for the Commercialization and Licensing of Technology (2022)
Journal Article
Trigeorgis, L., Baldi, F., & Makadok, R. (2022). Compete, Cooperate, or Both? Integrating the Demand Side into Patent Deployment Strategies for the Commercialization and Licensing of Technology. Academy of Management Review, 47(1), 31-58. https://doi.org/10.5465/amr.2018.0119

Profiting from innovation typically involves a choice between commercializing a patented technology in the product market to exploit proprietary advantage (i.e., competition) or licensing the technology to an incumbent in the market for ideas (a form... Read More about Compete, Cooperate, or Both? Integrating the Demand Side into Patent Deployment Strategies for the Commercialization and Licensing of Technology.