Stefanos Delikouras


  1. Do investment-based models explain equity returns? Evidence from Euler equations, with Robert Dittmar, Review of Financial Studies, Forthcoming, presented at the New Methods for the Cross Section of Returns Conference at the University of Chicago
  2. Underreaction to political information and price momentum, with Jawad Addoum, Da Ke, and Alok Kumar, Financial Management, 48(3), 2019, pp. 773 - 804, selected by the editorial team as one of the best 3 papers of the Fall 2019 issue
  3. Income hedging, dynamic style preferences, and return predictability, with Jawad Addoum, George Korniotis, and Alok Kumar, Journal of Finance, 74(4), 2019, pp. 2055 - 106, Online Appendix  
  4. Consumption-income sensitivity and portfolio choice, with Jawad Addoum and George KorniotisReview of Asset Pricing Studies, 9(1), 2019, pp. 91 - 136
  5. A single-factor consumption-based asset pricing model, with Alexandros Kostakis, Journal of Financial and Quantitative Analysis, 54(2), 2019, pp. 789 - 827, Online Appendix   
  6. Where's the kink? Disappointment events in consumption growth and equilibrium asset prices, Review of Financial Studies, 30(8), 2017, pp. 2851 - 89, Online Appendix
  7. The human capital that matters: Expected returns and high-income households, with Sean Campbell, Danling Jiang, and George Korniotis, Review of Financial Studies, 29(9), 2016, pp. 2523 - 63, Online Appendix

Other Publications

  1. Backorder cost coefficient "b", what could it be? with George Liberopoulos and Isidoros Tsikis, International Journal of Production Economics, 123(1), 2010, pp. 166 - 78

Submitted Papers

  1. Industry clusters and the geography of portfolio choice, with Jawad Addoum, Da Ke, and George Korniotis, R&R
  2. Geography of firms and propagation of local economic conditions, with Gennaro Bernile, George Korniotis, and Alok Kumar, R&R
  3. Blockchain characteristics and the cross-section of cryptocurrency returns, with Sidd Bhambhwani and George Korniotis

Working Papers

  1. Why corporate bonds may disappoint: Disappointment aversion and the credit spread puzzle
  2. Do dollar-denominated emerging market corporate bonds insure foreign exchange risk? with with Robert Dittmar and Haitao Li, presented at the 2013 WFA and EFA Meetings and 2016 AFA Meetings
  3. Asset pricing with and without garbage: The overlooked triple hypothesis problem, with George Korniotis
  4. Mutual fund performance when it really matters most, with Alexadros Kostakis

Work In Progress

  1. Disappointment aversion preferences and the expectation hypothesis in bond and currency markets
  2. Stock market experience and investor overconfidence, with Gennaro Bernile and Yosef Bonaparte
  3. Are fund managers effective mondey doctors? Evidence from shareholder letters, with Krystyna Bochkay and Tim Burch