George M. Korniotis

University of Miami

Assistant Professor of Finance

P.O. Box 248094

Coral Gables, FL 33124-6552

United States

Miami Business School

University of Miami - Behavioral Decision Making Cluster

5250 University Drive

Coral Gables, FL 33124

United States

SCHOLARLY PAPERS

28

DOWNLOADS
Rank 3,449

SSRN RANKINGS

Top 3,449

in Total Papers Downloads

14,279

SSRN CITATIONS
Rank 5,885

SSRN RANKINGS

Top 5,885

in Total Papers Citations

134

CROSSREF CITATIONS

93

Scholarly Papers (28)

1.

Do Older Investors Make Better Investment Decisions?

Review of Economics and Statistics, Forthcoming
Number of pages: 65 Posted: 20 Mar 2006 Last Revised: 11 Jul 2009
George M. Korniotis and Alok Kumar
University of Miami and University of Miami - Miami Herbert Business School
Downloads 3,265 (4,511)
Citation 20

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Older individual investors, cognitive aging, investment experience, learning, rules of thumb, investment skill

2.

State-Level Business Cycles and Local Return Predictability

Journal of Finance, Forthcoming
Number of pages: 89 Posted: 19 Feb 2008 Last Revised: 20 Apr 2012
George M. Korniotis and Alok Kumar
University of Miami and University of Miami - Miami Herbert Business School
Downloads 1,264 (20,567)
Citation 16

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3.

Do Portfolio Distortions Reflect Superior Information or Psychological Biases?

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 80 Posted: 20 Jul 2009 Last Revised: 20 Apr 2012
George M. Korniotis and Alok Kumar
University of Miami and University of Miami - Miami Herbert Business School
Downloads 1,207 (22,023)
Citation 22

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Individual investors, cognitive abilities, behavioral biases, diversification, active trading, local bias

4.

Blockchain Characteristics and the Cross-Section of Cryptocurrency Returns

Number of pages: 52 Posted: 06 Mar 2019 Last Revised: 29 Nov 2021
Siddharth Bhambhwani, Stefanos Delikouras and George M. Korniotis
HKUST Business School, University of Miami - Department of Finance and University of Miami
Downloads 1,195 (22,344)
Citation 15

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Hashrate, Network, Factor Analysis, GMM, Rolling Estimation

5.

Stature, Obesity, and Portfolio Choice

Number of pages: 61 Posted: 21 Nov 2009 Last Revised: 17 Jul 2015
Jawad M. Addoum, George M. Korniotis and Alok Kumar
Cornell SC Johnson College of Business, University of Miami and University of Miami - Miami Herbert Business School
Downloads 1,021 (28,116)
Citation 17

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6.

Geography of Firms and Propagation of Local Economic Conditions

Number of pages: 66 Posted: 22 May 2012 Last Revised: 26 Jul 2021
University of Miami - Department of Finance, University of Miami - Department of Finance, University of Miami and University of Miami - Miami Herbert Business School
Downloads 699 (47,490)

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Economic networks, 10-K filings, Gross State Product, predictability, return comovement, liquidity, sales

7.

Investor Sophistication and Asset Prices

Number of pages: 55 Posted: 10 Dec 2012 Last Revised: 19 Jul 2017
George M. Korniotis, Alok Kumar and Jeremy K. Page
University of Miami, University of Miami - Miami Herbert Business School and Brigham Young University
Downloads 546 (65,063)
Citation 1

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Local return predictability, return comovement, trading correlation, investor sophistication, risk sharing, local bias, state portfolios

8.

Mood, Firm Behavior, and Aggregate Economic Outcomes

Number of pages: 66 Posted: 25 Mar 2015 Last Revised: 21 Jun 2019
Vidhi Chhaochharia, Dasol Kim, George M. Korniotis and Alok Kumar
University of Miami - Department of Finance, Office of Financial Research, US Department of the Treasury, University of Miami and University of Miami - Miami Herbert Business School
Downloads 525 (68,395)
Citation 5

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Cloud cover, mood, small business managers, firm investment behavior, managerial optimism, state-level business cycles

9.

Do Behavioral Biases Adversely Affect the Macro-Economy?

Review of Financial Studies, Forthcoming
Number of pages: 72 Posted: 11 Aug 2008 Last Revised: 17 Sep 2010
George M. Korniotis and Alok Kumar
University of Miami and University of Miami - Miami Herbert Business School
Downloads 451 (82,250)
Citation 8

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Risk sharing, income risk, financial markets, cognitive abilities, behavioral biases, investor sophistication

10.

Prozac for Depressed States? Effect of Mood on Local Economic Recessions

Number of pages: 56 Posted: 19 Apr 2011 Last Revised: 15 Jul 2017
Vidhi Chhaochharia, George M. Korniotis and Alok Kumar
University of Miami - Department of Finance, University of Miami and University of Miami - Miami Herbert Business School
Downloads 414 (90,901)
Citation 7

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11.

Local Business Cycles and Local Liquidity

Number of pages: 53 Posted: 07 May 2012 Last Revised: 05 Dec 2013
University of Miami - Department of Finance, University of Miami, University of Miami - Miami Herbert Business School and Oklahoma State University - Tulsa
Downloads 405 (93,286)
Citation 3

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Geographical market segmentation, local business cycles, local liquidity, local bias, state portfolios, return predictability

12.

Income Hedging and Portfolio Decisions

Number of pages: 70 Posted: 09 Nov 2012 Last Revised: 31 Jul 2013
Yosef Bonaparte, George M. Korniotis and Alok Kumar
University of Colorado at Denver - Department of Finance, University of Miami and University of Miami - Miami Herbert Business School
Downloads 399 (94,843)
Citation 16

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income hedging, market participation, asset allocation, household finance

13.

The Human Capital That Matters: Expected Returns and High-Income Households

Review of Financial Studies, 2016, 29(9): 2523-2563
Number of pages: 56 Posted: 15 Sep 2007 Last Revised: 15 Oct 2016
Board of Governors of the Federal Reserve System, University of Miami - Department of Finance, College of Business, Stony Brook University and University of Miami
Downloads 347 (111,122)
Citation 3

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human capital, income risk, affluent investors, stock returns

14.

Income Hedging, Dynamic Style Preferences, and Return Predictability

Journal of Finance, Forthcoming, University of Miami Business School Research Paper No. 18-8
Number of pages: 91 Posted: 04 May 2014 Last Revised: 10 Oct 2018
Jawad M. Addoum, Stefanos Delikouras, George M. Korniotis and Alok Kumar
Cornell SC Johnson College of Business, University of Miami - Department of Finance, University of Miami and University of Miami - Miami Herbert Business School
Downloads 306 (127,380)
Citation 1

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Income hedging, hedging demand, value factor, state-level income risk, style investing, return predictability

15.

Industry Clusters and the Geography of Portfolio Choice

9th Miami Behavioral Finance Conference 2018, University of Miami Business School Research Paper No. 2909168
Number of pages: 54 Posted: 06 Nov 2019 Last Revised: 06 Oct 2021
Jawad M. Addoum, Stefanos Delikouras, Da Ke and George M. Korniotis
Cornell SC Johnson College of Business, University of Miami - Department of Finance, University of South Carolina - Department of Finance and University of Miami
Downloads 272 (144,088)

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local agglomeration, household portfolio choice, human capital

16.

Social Risk and Portfolio Choice

7th Miami Behavioral Finance Conference 2016
Number of pages: 82 Posted: 03 Nov 2016 Last Revised: 05 Dec 2018
William Bazley, Yosef Bonaparte, George M. Korniotis and Alok Kumar
University of Kansas, University of Colorado at Denver - Department of Finance, University of Miami and University of Miami - Miami Herbert Business School
Downloads 250 (156,858)
Citation 6

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Stock market participation, asset allocation, income risk, subjective probabilities, household finance

17.

Estimating Panel Models with Internal and External Habit Formation

Number of pages: 57 Posted: 17 May 2007 Last Revised: 15 Apr 2009
George M. Korniotis
University of Miami
Downloads 226 (172,906)
Citation 13

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Dynamic Panel Models, Bias Correction, Spatial Effects, Habit Formation, U.S. State Consumption

Habit Formation, Incomplete Markets, and the Significance of Regional Risk for Expected Returns

Review of Financial Studies, Forthcoming
Number of pages: 58 Posted: 28 Sep 2005 Last Revised: 08 Aug 2008
George M. Korniotis
University of Miami
Downloads 194 (199,043)
Citation 5

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Incomplete Markets, External Habit, Expected Returns, State-Level Consumption

Habit Formation, Incomplete Markets, and the Significance of Regional Risk for Expected Returns

The Review of Financial Studies, Vol. 21, Issue 5, pp. 2139-2172, 2008
Posted: 19 Sep 2008
George M. Korniotis
University of Miami

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E21, G12

19.
Downloads 186 (206,805)
Citation 6

Income Risk and Stock Market Entry/Exit Decisions

Number of pages: 66 Posted: 24 May 2017 Last Revised: 11 May 2021
Yosef Bonaparte, George M. Korniotis and Alok Kumar
University of Colorado at Denver - Department of Finance, University of Miami and University of Miami - Miami Herbert Business School
Downloads 185 (207,760)
Citation 5

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Non-retirement accounts, ownership turnover, trading costs, PSID, SCF.

Income Risk and Stock Market Entry/Exit Decisions

Number of pages: 69 Posted: 03 Nov 2020 Last Revised: 14 May 2021
Yosef Bonaparte, George M. Korniotis and Alok Kumar
University of Colorado at Denver - Department of Finance, University of Miami and University of Miami - Miami Herbert Business School
Downloads 1 (838,612)
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20.

Grit, Loss Aversion, and Investor Behavior

Number of pages: 53 Posted: 16 Jun 2021
William Bazley, Sima Jannati and George M. Korniotis
University of Kansas, University of Missouri-Columbia and University of Miami
Downloads 168 (225,656)

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Prospect theory, investor preferences, disposition effect, experimental market, personality traits

21.

Big Fish in a Small Pond: Locally-Dominant Firms and the Business Cycle

Journal of Economic Behavior & Organization, Volume 180, December 2020
Number of pages: 82 Posted: 14 Dec 2016 Last Revised: 29 Oct 2020
Sima Jannati, George M. Korniotis and Alok Kumar
University of Missouri-Columbia, University of Miami and University of Miami - Miami Herbert Business School
Downloads 166 (228,057)
Citation 1

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Idiosyncratic shocks; state-level business cycle; U.S. business cycle; economic contagion

22.

Consumption-Income Sensitivity and Portfolio Choice

Number of pages: 72 Posted: 16 Mar 2014 Last Revised: 18 Jun 2018
Jawad M. Addoum, Stefanos Delikouras and George M. Korniotis
Cornell SC Johnson College of Business, University of Miami - Department of Finance and University of Miami
Downloads 156 (240,308)
Citation 2

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life-cycle consumption, income hedging, portfolio theory, consumption-income sensitivity

23.

Can the Past Hinder Investor Learning?

Number of pages: 39 Posted: 03 Oct 2016 Last Revised: 01 Dec 2021
William Bazley, George M. Korniotis and Gregory R. Samanez-Larkin
University of Kansas, University of Miami and Duke University - Department of Psychology and Neuroscience
Downloads 150 (248,219)
Citation 1

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Diversification, Trading frequency, Portfolio Performance, Serial Position Effect

24.
Downloads 149 (249,496)

What Did Minorities Do Post 2008?

Number of pages: 40 Posted: 05 Aug 2017 Last Revised: 15 Jun 2021
Yosef Bonaparte, Sarah Khalaf and George M. Korniotis
University of Colorado at Denver - Department of Finance, Kuwait University and University of Miami
Downloads 149 (250,109)

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Risk tolerance, optimism, stock ownership, asset allocation, wealth gap, SCF, presidential elections.

What Did Minorities Do Post 2008?

Number of pages: 43 Posted: 14 Jan 2020 Last Revised: 14 Jul 2021
Yosef Bonaparte, Sarah Khalaf and George M. Korniotis
University of Colorado at Denver - Department of Finance, Kuwait University and University of Miami
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25.

Consuming, Saving, and Spending Most of Income

Number of pages: 43 Posted: 25 Oct 2004 Last Revised: 15 Jul 2017
Stefanos Delikouras and George M. Korniotis
University of Miami - Department of Finance and University of Miami
Downloads 132 (274,546)

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Savings, mental accounting, quadratic utility, consumer choice

26.

Asset Pricing With and Without Garbage: Testability of Consumption-based Models

University of Miami Business School Research Paper No. 3417217
Number of pages: 55 Posted: 10 Jul 2019 Last Revised: 21 Sep 2021
Stefanos Delikouras and George M. Korniotis
University of Miami - Department of Finance and University of Miami
Downloads 104 (325,452)

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cross-section, expected returns, ultimate consumption, garbage, unfiltered consumption, Epstein-Zin preferences, risk-free rate

27.

Financial Self-Awareness: Who Knows What They Don't Know?

University of Miami Business School Research Paper No. 3419779
Number of pages: 10 Posted: 15 Jul 2019 Last Revised: 25 Jan 2020
William Bazley, Yosef Bonaparte and George M. Korniotis
University of Kansas, University of Colorado at Denver - Department of Finance and University of Miami
Downloads 80 (383,461)

Abstract:

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stock market participation, financial literacy, self-awareness

28.

Blockchain Characteristics and the Cross-Section of Cryptocurrency Returns

Number of pages: 55 Posted: 13 May 2019 Last Revised: 22 Sep 2021
Siddharth Bhambhwani, Stefanos Delikouras and George M. Korniotis
University of Miami Herbert Business School, University of Miami - Department of Finance and University of Miami
Downloads 2 (790,260)
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Factor Analysis, GMM, Hashrate, network, Rolling Estimation