Outputs (3)

Dispersion in options investors' versus analysts' expectations: Predictive inference for stock returns (2021)
Journal Article
Andreou, P., Kagkadis, A., Maio, P., & Philip, D. (2021). Dispersion in options investors' versus analysts' expectations: Predictive inference for stock returns. Critical finance review, 10(1), 65-81. https://doi.org/10.1561/104.00000091

We create a market-wide measure of dispersion in options investors' expectations by aggregating across all stocks the dispersion in trading volume across moneynesses (DISP). DISP exhibits strong negative predictive power for future market returns and... Read More about Dispersion in options investors' versus analysts' expectations: Predictive inference for stock returns.

Institutional ownership and firms’ thrust to compete (2021)
Journal Article
Andreou, P. C., Fiordelisi, F., Harris, T., & Philip, D. (2022). Institutional ownership and firms’ thrust to compete. British Journal of Management, 33(3), 1346-1370. https://doi.org/10.1111/1467-8551.12496

This article provides evidence on the impact of transient (short-term) institutional investors on a firm’s thrust to compete. A firm’s thrust to compete, as an attribute of corporate culture, captures the relative importance of corporate values that... Read More about Institutional ownership and firms’ thrust to compete.

Financial Distress Risk and Stock Price Crashes (2021)
Journal Article
Andreou, C. K., Andreou, P. C., & Lambertides, N. (2021). Financial Distress Risk and Stock Price Crashes. Journal of Corporate Finance, 67, Article 101870. https://doi.org/10.1016/j.jcorpfin.2020.101870

This study uses 462,678 monthly observations of US-listed firms for the period 1990–2018 to document a strong positive relationship between short-term changes in financial distress risk and future stock price crashes. This result is economically sign... Read More about Financial Distress Risk and Stock Price Crashes.