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

27

DOWNLOADS
Rank 3,334

SSRN RANKINGS

Top 3,334

in Total Papers Downloads

13,588

SSRN CITATIONS
Rank 5,902

SSRN RANKINGS

Top 5,902

in Total Papers Citations

127

CROSSREF CITATIONS

94

Scholarly Papers (27)

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 3,248 (4,117)
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 1,249 (19,366)
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 1,197 (20,647)
Citation 21

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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: 53 Posted: 06 Mar 2019 Last Revised: 08 Apr 2021
Siddharth Bhambhwani, Stefanos Delikouras and George M. Korniotis
HKUST Business School, University of Miami - Department of Finance and University of Miami
Downloads 998 (27,047)
Citation 15

Abstract:

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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 University, University of Miami and University of Miami - Miami Herbert Business School
Downloads 990 (27,289)
Citation 17

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6.

Geography of Firms and Propagation of Local Economic Conditions

Number of pages: 67 Posted: 22 May 2012 Last Revised: 17 Jun 2020
University of Miami - Department of Finance, University of Miami - Department of Finance, University of Miami and University of Miami - Miami Herbert Business School
Downloads 665 (47,278)

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Economic networks, 10-K filings, U.S. states, 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 516 (65,181)
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 494 (68,848)
Citation 6

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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 445 (78,148)
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 410 (86,085)
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 399 (88,863)
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 390 (91,146)
Citation 15

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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 343 (105,507)
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 University, University of Miami - Department of Finance, University of Miami and University of Miami - Miami Herbert Business School
Downloads 303 (120,791)
Citation 1

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

15.

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 J. 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 244 (150,900)
Citation 6

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

16.

Clustering Fosters Investment: Local Agglomeration and Household Portfolio Choice

9th Miami Behavioral Finance Conference 2018, University of Miami Business School Research Paper No. 2909168
Number of pages: 48 Posted: 06 Nov 2019 Last Revised: 08 Mar 2021
Jawad M. Addoum, Stefanos Delikouras, Da Ke and George M. Korniotis
Cornell University, University of Miami - Department of Finance, University of South Carolina - Department of Finance and University of Miami
Downloads 233 (157,734)

Abstract:

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local agglomeration, household portfolio choice, human capital

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 223 (164,542)
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 192 (188,932)
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.

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 162 (219,056)
Citation 1

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

20.
Downloads 158 (223,770)
Citation 5

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 157 (225,366)
Citation 5

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

Income Risk, Ownership Dynamics, and Portfolio Decisions

CEPR Discussion Paper No. DP15370
Number of pages: 75 Posted: 03 Nov 2020
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 (798,432)
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Income risk, Market entry/exit, non-retirement accounts, ownership turnover, Trading Costs

21.

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 University, University of Miami - Department of Finance and University of Miami
Downloads 152 (230,986)
Citation 2

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

22.
Downloads 142 (244,208)

Did Minorities Invest More Post 2008?

Number of pages: 33 Posted: 05 Aug 2017 Last Revised: 24 Mar 2021
Yosef Bonaparte, Sarah Khalaf and George M. Korniotis
University of Colorado at Denver - Department of Finance, Kuwait University and University of Miami
Downloads 142 (244,923)

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

Did Minorities Invest More Post 2008?

CEPR Discussion Paper No. DP14264
Number of pages: 36 Posted: 14 Jan 2020 Last Revised: 31 Mar 2021
Yosef Bonaparte, Sarah Khalaf and George M. Korniotis
University of Colorado at Denver - Department of Finance, Kuwait University and University of Miami
Downloads 0
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23.

Can the Past Hinder Investor Learning?

Number of pages: 39 Posted: 03 Oct 2016 Last Revised: 12 May 2021
William J. Bazley, George M. Korniotis and Gregory R. Samanez-Larkin
University of Kansas, University of Miami and Duke University - Department of Psychology and Neuroscience
Downloads 141 (245,540)
Citation 1

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Diversification, Trading frequency, Portfolio Performance, Serial Position Effect

24.

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 130 (261,608)

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Savings, mental accounting, quadratic utility, consumer choice

25.

Asset Pricing With and Without Garbage: Resurrecting Aggregate Consumption

University of Miami Business School Research Paper No. 3417217
Number of pages: 60 Posted: 10 Jul 2019 Last Revised: 12 Feb 2021
Stefanos Delikouras and George M. Korniotis
University of Miami - Department of Finance and University of Miami
Downloads 87 (349,029)

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cross-section, consumption growth, garbage, unfiltered consumption, disappointment aversion

26.

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 J. Bazley, Yosef Bonaparte and George M. Korniotis
University of Kansas, University of Colorado at Denver - Department of Finance and University of Miami
Downloads 75 (375,531)

Abstract:

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stock market participation, financial literacy, self-awareness

27.

Blockchain Characteristics and the Cross-Section of Cryptocurrency Returns

CEPR Discussion Paper No. DP13724
Number of pages: 58 Posted: 13 May 2019 Last Revised: 02 Nov 2020
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 (750,714)
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Bitcoin, cointegration, Dash, ethereum, GMM estimation, Hashrate, Investor Sentiment, Litecoin, network