Dr Ioannis Oikonomou

Associate Professor in Finance

Director MSc in Behavioural Finance

Ioannis Oikonomou

Specialisms

  • Socially Responsible Investing, 
  • Behavioural Finance, 
  • Sports Finance

Location

ICMA Centre, Whiteknights Campus

Ioannis joined the academic faculty of the ICMA Centre in 2011. He is the Programme Area Director for all ICMA Centre Undergraduate Programmes as well as for the MSc in Behavioural Finance. He is also the module convenor of the undergraduate Portfolio Management course and postgraduate Behavioural Finance course. In the past, he has worked at the Credit Extension Department of Citibank in Athens, Greece.

He holds a BSc in Banking and Financial Management from the University of Piraeus (Greece), an MSc in International Securities, Investment and Banking with a specialization in Trading and Asset Management and a PhD in Finance, both from the ICMA Centre.

In early 2012 Ioannis’s project, ‘Corporate Social Responsibility and Credit Costs’ was awarded a highly prestigious grant by the Centre for European Economic Research in Mannheim, Germany. The Strengthening Efficiency and Competitiveness in the European Knowledge Economies (or SEEK) grant is worth approximately €150,000 and aims to contribute to a deeper understanding of policy rationales, the design of appropriate policy instruments as well as their effectiveness and efficiency.

Ioannis thesis, entitled ‘Empirical Investigations of the Relationship between Corporate Social and Financial Performance’, has been awarded the Best Thesis in Finance and Sustainability European Research Award for 2012. This award is administered by the French Social Investment Forum and the United Nations-backed Principles for Responsible Investment (PRI).

In 2013, Ioannis was awarded the University’s 2013 Best Research Output Prize for Henley Business School with his research paper “The Impact of Corporate Social Performance on Financial Risk and Utility: A Longitudinal Analysis”.

In 2015, his work on the connection between firm sustainability and the pricing of corporate bonds was honoured with the Outstanding Publication Award from the Financial Review academic journal.

His research on various issues in the relationship between corporate social responsibility and financial performance has been published in prestigious academic journals such as the Journal of Management Studies, Financial Management, Journal of Business Ethics and Financial Review. It has also been featured in international media, including French newspaper Le Monde, and specialised practitioner bulletins, such as the CFA Digest.

Ioannis has presented in several international conferences in the USA and Europe. He has also been a reviewer for diverse international academic journals including the Journal of Economic Behavior & Organization, European Financial Management, Journal of Banking and Finance, Journal of Business Ethics, Transportation Research Part E: Logistics and Transportation Review and Business Ethics: A European Review.

Awards

  • June 2016: The paper “The Impact of Corporate Cultural Distance on Mergers and Acquisitions” won the best student corporate finance award in the 3rd Young Finance Scholar’s conference.
  • March 2016: Received the Teaching Excellence Award administered by the Reading University Student Union and based entirely on student views and nominations. Was also nominated for the Personal Tutor Excellence Award.
  • September 2015: The paper “The Impact of Corporate Social Responsibility on the Likelihood of Deal Completion and the Acquisition Method of Payment”, was runner-up for the best student paper award in the PRI Academic network conference 2015.
  • April 2015: The paper “The Effects of Corporate Social Performance on the Cost of Corporate Debt and Credit Ratings” won the Outstanding Publication Award for a paper published in 2014 in the Financial Review journal.
  • March 2013: Won the Henley Business School Best Research Output Prize for the paper “The Impact of Corporate Social Performance on Financial Risk and Utility: A Longitudinal Analysis”.
  • September 2012: Doctoral thesis entitled “Empirical Investigations of the Relationship between Corporate Social and Financial Performance” was honoured with the Best Thesis in Finance and Sustainability European Research Award for 2012, administered by the French Social Investment Forum and the United Nations-backed Principles for Responsible Investment.

Reference: Oikonomou, I. , Stancu, A., Symeonidis, L. and Wese Simen, C. (2019) The information content of short-term options. Journal of Financial Markets, 46. 100504. ISSN 1386-4181 doi: https://doi.org/10.1016/j.finmar.2019.07.003
Reference: Oikonomou, I. , Yin, C. and Zhao, L. (2019) Investment horizon and corporate social performance: the virtuous circle of long-term institutional ownership and responsible firm conduct. European Journal of Finance. ISSN 1466-4364 doi: https://doi.org/10.1080/1351847X.2019.1660197
Reference: Oikonomou, I. , Yin, C. and Zhao, L. (2019) Investment horizon and corporate social performance: the virtuous circle of long-term institutional ownership and responsible firm conduct. European Journal of Finance. ISSN 1466-4364 doi: https://doi.org/10.1080/1351847X.2019.1660197
Reference: Oikonomou, I. , Pastra, A. and Visvikis, I. (2018) A financial business case for corporate social responsibility. In: Froholdt, L. L. (ed.) Corporate social responsibility in the maritime industry. WMU studies in maritime affairs (5). Springer, Cham, Switzerland, pp. 219-236. ISBN 9783319691428
Reference: Brooks, C. and Oikonomou, I. (2018) The effects of environmental, social and governance disclosures and performance on firm value: a review of the literature in accounting and finance. The British Accounting Review, 50 (1). pp. 1-15. ISSN 0890-8389 doi: https://doi.org/10.1016/j.bar.2017.11.005
Reference: Oikonomou, I. , Platanakis, E. and Sutcliffe, C. (2018) Socially responsible investment portfolios: does the optimization process matter? The British Accounting Review, 50 (4). pp. 379-401. ISSN 0890-8389 doi: https://doi.org/10.1016/j.bar.2017.10.003
Reference: Hoepner, A. , Oikonomou, I. , Scholtens, L. J. R. and Schröder, M. (2016) The effects of corporate and country sustainability characteristics on the cost of debt: an international investigation. Journal of Business Finance & Accounting, 43 (1-2). pp. 158-190. ISSN 1468-5957 doi: https://doi.org/10.1111/jbfa.12183
Reference: Kappou, K. and Oikonomou, I. (2016) Is there a gold social seal? The financial effects of additions to and deletions from social stock indices. Journal of Business Ethics, 133 (3). pp. 533-552. ISSN 1573-0697 doi: https://doi.org/10.1007/s10551-014-2409-z
Reference: Oikonomou, I. , Brooks, C. and Pavelin, S. (2014) The effects of corporate social performance on the cost of corporate debt and credit ratings. Financial Review, 49 (1). pp. 49-75. ISSN 1540-6288 doi: https://doi.org/10.1111/fire.12025
Reference: Oikonomou, I. , Brooks, C. and Pavelin, S. (2014) The financial effects of uniform and mixed corporate social performance. Journal of Management Studies, 51 (6). pp. 898-925. ISSN 1467-6486 doi: https://doi.org/10.1111/joms.12064
Reference: Oikonomou, I. , Brooks, C. and Pavelin, S. (2012) The impact of corporate social performance on financial risk and utility: a longitudinal analysis. Financial Management, 41 (2). pp. 483-515. ISSN 1755-053X doi: https://doi.org/10.1111/j.1755-053X.2012.01190.x

Behavioural Finance

Financial theories have traditionally assumed that rational, risk-averse investors trade in efficient and free-flowing asset markets. Academic research and practitioner experience have cast doubt on this paradigm, instead proposing that...

Module code: ICM, ICM302

Past Events

26th September 2017 Berlin
7th October 2017 Reading University
19th October 2017 Athens

Athens, Greece - British Council Exhibition

9th April 2017 Royal Olympic Hotel 28-34, Athanasiou Diakou Str, Athens, 11743, Greece
12th November 2016 Divani Caravel Hotel 2, Vas. Alexandrou Street, 161 21 Athens, Greece

Athens British Council Fair

16th April 2016 Athens

Most recent news & media

Older news & media

“The Effects of Corporate Social Performance on the Cost of Corporate Debt and Credit Ratings” (2014) with C. Brooks and S. Pavelin. Financial Review, Volume 49, Issue 1, pages 49–75. DOI: 10.1111/fire.1202. Winner of the Outstanding Publication Award for the Financial Review journal for 2014.

“Is There a Gold Social Seal? The Financial Effects of Additions to and Deletions from Social Stock Indices" (2014) with K. Kappou. Journal of Business Ethics. DOI: 10.1007/s10551-014-2409-z

“The Financial Effects of Uniform and Mixed Corporate Social Performance” (2014) with C. Brooks and S. Pavelin, Journal of Management Studies 51:6, pp. 898-925. DOI: 10.1111/joms.12064.

“The Impact of Corporate Social Performance on Financial Risk and Utility: a Longitudinal Analysis."(2012) with C. Brooks and S. Pavelin. Financial Management, 41 (2). pp. 483-515. ISSN 1755-053X doi: 10.1111/j.1755-053X.2012.01190.x Winner of the Research Endowment Trust Fund Prize for best research output for Henley Business School in 2013.

“Creating More Stable and Diversified Socially Responsible Investment Portfolios” with E. Platanakis and C. Sutcliffe Working paper. Under review.

"The Effects of Corporate and Country Sustainability Characteristics on the Cost of Debt: An International Investigation" with A. Hoepner, B. Scholtens and M.Schröder. Working paper. Under review.

Ioannis’ papers are available on SSRN.

– Contribution of exercises on the Capital Asset Pricing Model and Market Efficiency for “Essentials of Investments”, Zvi Bodie, Alex Kane, Alan Marcus, 9th Global Edition, McGraw Hill publications.

– Contribution of text, exercises and other material in the forthcoming edition of “The Bond and Money Markets: Strategy, Trading, Analysis”, Butterworth-Heinemann publications, by Moorad Choudhry.

– Contribution of text and other material in “Mergers and Acquisitions” (in Greek), Batsioulas N. & S. publications, by Dr. Dimitrios Kyriazis.

In early 2012 Ioannis’s project, ‘Corporate Social Responsibility and Credit Costs’ was awarded a highly prestigious grant by the Centre for European Economic Research in Mannheim, Germany.

Ioannis is currently working with an international team of academics from Scotland, Germany and the Netherlands and his research assistant Ms Despoina Kentrou on a project concerning the effects of corporate social performance on credit spreads.

This is an innovative study based on an international dataset which aims to shed light at the ways in which a firm's social and environmental attitude is likely to influence its cost of debt and access to capital. The implications are important for a variety of constituents including firm managers, financial institutions and regulatory authorities.

News

Le Monde Economie, 'The investors are more interested in the exhibition of consistency in corporate policies than gestures of "good behaviour" ' (in French)

http://www.lemonde.fr/acces-restreint/economie/article/2012/10/01/6a6c689e646a69c59369636b699e70_1768151_3234.html

CFA Digest

http://www.cfapubs.org/doi/full/10.2469/dig.v44.n6.8.aspx

Best research output for Henley Business School: Dr Ioannis Oikonomou

http://www.reading.ac.uk/research/ResearchReviewonline/Features/res-retfioannisoikonomou.aspx

In a lift with... Dr Ioannis Oikonomou

http://www.reading.ac.uk/research/ResearchReviewonline/res-liftwithioannisoikonomou.aspx

Research success for ICMA Centre lecturer http://www.icmacentre.ac.uk/research-success-for-icma-centre-lecturer.html

How Best Behaviour Boosts the Bottom Line http://www.ideasforleaders.com/ideas/how-best-behaviour-boosts-the-bottom-line