Panos Andrikopoulos


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  • 51 Citations
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Personal profile


Panagiotis Andrikopoulos is the Executive Director of the Centre for Financial and Corporate Integrity (CFCI) at Coventry Business School and a Professor of Finance. Prior to joining Coventry University, Panagiotis was a Reader in Finance at Leicester Business School (De Montfort University, UK) where he taught various finance courses such as investment theory and analysis, finance theory, advanced corporate finance, and behavioural finance. During the period 2012-2015, he has also been an Extraordinary (Adjunct) Associate Professor in Finance for the School of Accounting Sciences at North-West University of South Africa. He holds a PhD in Finance from the University of Portsmouth (2002) for studying the profitability of contrarian investments strategies in the UK setting. His research interests lie in the areas of corporate finance, market efficiency, empirical asset pricing, and behavioural finance, subjects on which he has widely published in various academic journals of international standing, such as the Annals of Operations Research, British Accounting Review, Journal of Business, Finance and Accounting, European Journal of Financeetc. Currently, his research concentrates on three distinct themes: i) the quantification of stakeholder theory; ii) empirical asset pricing, and iii) stock market herding behavior. He serves as a panel member of various editorial and scientific advisory boards and has also been a frequent contributor to a wide range of international conferences and research symposia in the UK and abroad. Panagiotis is a member of the Chartred Institute for Security and Investment (MCSI) and a Senior Fellow of the Higher Education Academy (SFHEA).


Area of Expertise:

  • Behavioural Finance
  • Empirical Asset Pricing
  • Corporate Finance
  • Stakeholder Theory

Research Interests

Stakeholder Theory; Corporate Finance ; Behavioural Finance ; Empirical Asset Pricing

Vision Statement

My research focuses on the areas of stock market efficiency and behavioural finance. I am especially interested in investigating the theoretical weaknesses of the neoclassical finance paradigm and its possible empirical violations manifested via alternative stock market mispricing phenomena. At the moment, my efforts are concentrated in two distinct areas: i) the quantification of the stakeholder theory and its link to optimal financial decision-making, and, ii) stock market herding behavior.

Education/Academic qualification

Doctorate, University of Portsmouth

MSc, University of Portsmouth

External positions

External Examiner, Open University

1 Jan 2019 → …

External Examiner, Queen Mary University of London

1 Sep 2016 → …

External Examiner, University of Liverpool

1 Sep 201531 Dec 2018

External Examiner, London South Bank University

1 Sep 201331 Aug 2015

Extraordinary Associate Professor in Finance, North-West University

Jul 2012Jun 2015

External Examiner, University of Hertfordshire

1 Sep 201131 Aug 2015

Business School Affiliate (Accounting and Finance), University of Glasgow

1 Jun 2011 → …

External Examiner, London Metropolitan University

1 Sep 200930 Aug 2013

External Examiner, Northumbria University

1 Sep 200831 Aug 2010

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Projects 2019 2020

Research Output 2008 2020

Feedback Trading and the Ramadan Effect in Frontier Markets

Andrikopoulos, P., Cui, Y., Gad, S. & Kallinterakis, V., 1 Jan 2020, In : Research in International Business and Finance. 51, 101085.

Research output: Contribution to journalArticle

Feedback trading
Global financial crisis

Diversification Benefits of Shari’ah Compliant Equity ETFs in Emerging Markets

Gad, S. & Andrikopoulos, P., Feb 2019, In : Pacific-Basin Finance Journal. 53, p. 133-144 12 p.

Research output: Contribution to journalArticle

Emerging markets
Diversification benefits
Exchange traded funds
16 Downloads (Pure)

Relative Reference Prices and M&A Misvaluations

Li, Z., Guo, J. M. & Andrikopoulos, P., 24 May 2019, In : Review of Behavioural Finance. 11, 1, p. 70-97 28 p.

Research output: Contribution to journalArticle

Open Access
Reference point
Reference price
Announcement returns
Mergers and acquisitions
Design methodology
17 Downloads (Pure)

Understanding time-inconsistent heterogeneous preferences in economics and finance: A practice theory approach

Andrikopoulos, P. & Webber, N., Nov 2019, In : Annals of Operations Research. 282, 1-2, p. 3–26 24 p.

Research output: Contribution to journalArticle

Open Access
Heterogeneous preferences
Practice theory
Decision making
61 Downloads (Pure)
Open Access
Small and medium-sized enterprises
Market information
Default prediction
Accounting information
Hybrid model

Activities 2007 2016

  • 26 Participation in conference
  • 5 Editorial activity
  • 1 Hosting an academic visitor

Mohammed Ahmed

Jaliyyah Bello (Host), Panos Andrikopoulos (Host), Masud Ibrahim (Host)
8 Apr 2016

Activity: Hosting a visitorHosting an academic visitor

British Accounting and Finance Association Annual Conference 2015

Panos Andrikopoulos (Speaker)
25 Mar 2015 → …

Activity: Participating in or organising an eventParticipation in conference

Review of Behavioural Finance (Journal)

Panos Andrikopoulos (Associate Editor)
2015 → …

Activity: Publication peer-review and editorial workEditorial activity

EFMA 2015 Annual Conference

Panos Andrikopoulos (Speaker)
Jun 2015

Activity: Participating in or organising an eventParticipation in conference

4th International Conference of the Financial Engineering & Banking Society

Panos Andrikopoulos (Speaker)
6 Jun 2014

Activity: Participating in or organising an eventParticipation in conference