Publications
Selected publications
- Cybersecurity Risk (Journal article - 2023)
- Do Stock Returns Really Decrease with Default Risk? New International Evidence (Journal article - 2018)
- CEO compensation and future shareholder returns: Evidence from the London Stock Exchange (Journal article - 2014)
- Can CFOs resist undue pressure from CEOs to manage earnings? (Journal article - 2021)
- Idiosyncratic risk, risk-taking incentives and the relation between managerial ownership and firm value (Journal article - 2020)
- How do chief financial officers influence corporate cash policies? (Journal article - 2018)
2025
Stock market reaction to mandatory carbon disclosure announcements: The role of institutional investors
Florackis, C., Muktadir-Al-Mukit, D., Sainani, S., & Zhang, Z. J. (2025). Stock market reaction to mandatory carbon disclosure announcements: The role of institutional investors. Journal of International Financial Markets, Institutions and Money, 99, 102113. doi:10.1016/j.intfin.2025.102113
How Corporate Boards Can Integrate Sustainability Risk Into Strategy And Governance, Institute of Management Accountants (IMA) Research Report
Sainani, S., Florakis, C., & Krasteva, E. (n.d.). How Corporate Boards Can Integrate Sustainability Risk Into Strategy And Governance, Institute of Management Accountants (IMA) Research Report. Retrieved from https://eu.imanet.org/
2024
Backing Away from ESG? The Effect of Sovereign Rating Downgrades on Corporate Sustainability
Boumparis, P., Florackis, C., Guedhami, O., & Sainani, S. (2024). Backing Away from ESG? The Effect of Sovereign Rating Downgrades on Corporate Sustainability.
2023
Political connections, environmental violations and punishment: Evidence from heavily polluting firms
Florackis, C., Fu, X., & Wang, J. (2023). Political connections, environmental violations and punishment: Evidence from heavily polluting firms. International Review of Financial Analysis, 88, 102698. doi:10.1016/j.irfa.2023.102698
Cybersecurity Risk
Florakis, C., Louca, C., Michaely, R., & Weber, M. (2023). Cybersecurity Risk. The Review of Financial Studies, 36(1), 351-407. doi:10.1093/rfs/hhac024
2021
Can CFOs resist undue pressure from CEOs to manage earnings?
Florackis, C., & Sainani, S. (2021). Can CFOs resist undue pressure from CEOs to manage earnings?. JOURNAL OF CORPORATE FINANCE, 67. doi:10.1016/j.jcorpfin.2020.101859
Can CFOs Resist Undue Pressure from CEOs to Manage Earnings?
Sainani, S., & Florakis, C. (n.d.). Can CFOs Resist Undue Pressure from CEOs to Manage Earnings?. Journal of Corporate Finance. doi:10.1016/j.jcorpfin.2020.101859
2020
Idiosyncratic risk, risk-taking incentives and the relation between managerial ownership and firm value
Florakis, C., Kanas, A., Kostakis, A., & Sainani, S. (2020). Idiosyncratic risk, risk-taking incentives and the relation between managerial ownership and firm value. European Journal of Operational Research, 283(2), 748-766. doi:10.1016/j.ejor.2019.11.027
2018
How do chief financial officers influence corporate cash policies?
Florackis, C., & Sainani, S. (2018). How do chief financial officers influence corporate cash policies?. JOURNAL OF CORPORATE FINANCE, 52, 168-191. doi:10.1016/j.jcorpfin.2018.08.001
Do Stock Returns Really Decrease with Default Risk? New International Evidence
Aretz, K., Florakis, C., & Kostakis, A. (2018). Do Stock Returns Really Decrease with Default Risk? New International Evidence. Management Science, forthcoming, 64(8), 3469-3970. doi:10.1287/mnsc.2016.2712
Monetary policy shocks and financially constrained stock returns: The effects of the financial crisis
Balafas, N., Florackis, C., & Kostakis, A. (2018). Monetary policy shocks and financially constrained stock returns: The effects of the financial crisis. INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS, 58, 69-90. doi:10.1016/j.irfa.2018.05.001
2017
Liquidity Shocks and Real GDP Growth: Evidence from a Bayesian Time-varying Parameter VAR
Ellington, M. T., Milas., & Florakis. (2017). Liquidity Shocks and Real GDP Growth: Evidence from a Bayesian Time-varying Parameter VAR. Journal of International Money and Finance, 72, 93-117. doi:10.1016/j.jimonfin.2016.12.002
2016
Disappointment aversion and the equity premium puzzle: new international evidence
Xie, Y., Florakis, C., & Pantelous, T. (2014). Disappointment aversion and the equity premium puzzle: new international evidence. The European Journal of Finance, 22(12), 1189-1203. doi:10.1080/1351847X.2014.946529
Advancing the Corporate Governance Research Agenda
Aguilera, R., Florackis, C., & Kim, H. (2016). Advancing the Corporate Governance Research Agenda. Corporate Governance: An International Review, 24(3), 172-180. doi:10.1111/corg.12167
2015
Dividend Policy, Managerial Ownership and Debt Financing: A Non-Parametric Perspective
Florakis, C., Kanas, A., & Kostakis, A. (2015). Dividend Policy, Managerial Ownership and Debt Financing: A Non-Parametric Perspective. European Journal of Operational Research, 241(3), 783-795. doi:10.1016/j.ejor.2014.08.031
2014
Financial flexibility, corporate investment and performance: evidence from financial crises
Arslan-Ayaydin, Ö., Florackis, C., & Ozkan, A. (2014). Financial flexibility, corporate investment and performance: evidence from financial crises. Review of Quantitative Finance and Accounting, 42(2), 211-250. doi:10.1007/s11156-012-0340-x
CEO compensation and future shareholder returns: Evidence from the London Stock Exchange
Balafas, N., & Florackis, C. (2014). CEO compensation and future shareholder returns: Evidence from the London Stock Exchange. JOURNAL OF EMPIRICAL FINANCE, 27, 97-115. doi:10.1016/j.jempfin.2013.10.011
On Stock Market Illiquidity and Real-Time GDP Growth
Florackis, C., Giorgioni, G., Kostakis, A., & Milas, C. (2014). On Stock Market Illiquidity and Real-Time GDP Growth. Journal of International Money and Finance, 44, 210-229. doi:10.1016/j.jimonfin.2014.02.006
Stock market liquidity and macro-liquidity shocks: Evidence from the 2007–2009 financial crisis
Florakis, C., Kontonikas, A., & Kostakis, A. (2014). Stock market liquidity and macro-liquidity shocks: Evidence from the 2007–2009 financial crisis. Journal of International Money and Finance, 44, 97-117. doi:10.1016/j.jimonfin.2014.02.002
2013
Boards of Directors and Financial Risk during the Credit Crisis
McNulty, T., Florackis, C., & Ormrod, P. (2013). Boards of Directors and Financial Risk during the Credit Crisis. Corporate Governance: An International Review, 21(1), 58-78. doi:10.1111/corg.12007
2012
Corporate Governance and Risk: A Study of Board Structure and Process
McNulty, T., Florackis, C., & Ormrod, P. (2012). Corporate Governance and Risk: A Study of Board Structure and Process. Unknown Journal, ACCA R(1-33).
2011
Trading frequency and asset pricing on the London Stock Exchange: Evidence from a new price impact ratio
Florackis, C., Gregoriou, A., & Kostakis, A. (2011). Trading frequency and asset pricing on the London Stock Exchange: Evidence from a new price impact ratio. Journal of Banking & Finance, 35(12), 3335-3350. doi:10.1016/j.jbankfin.2011.05.014
2009
Managerial ownership and performance
Florackis, C., Kostakis, A., & Ozkan, A. (2009). Managerial ownership and performance. Journal of Business Research, 62(12), 1350-1357. doi:10.1016/j.jbusres.2008.12.001
Managerial incentives and corporate leverage: evidence from the United Kingdom
Florackis, C., & Ozkan, A. (2009). Managerial incentives and corporate leverage: evidence from the United Kingdom. Accounting & Finance, 49(3), 531-553. doi:10.1111/j.1467-629x.2009.00296.x
The Impact of Managerial Entrenchment on Agency Costs: An Empirical Investigation Using UK Panel Data
Florackis, C., & Ozkan, A. (2009). The Impact of Managerial Entrenchment on Agency Costs: An Empirical Investigation Using UK Panel Data. European Financial Management, 15(3), 497-528. doi:10.1111/j.1468-036x.2007.00418.x