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Dr. John Doukas
Selected Publications

Daily Short Interest, Idiosyncratic Risk, and Stock Returns


This paper examines the relation between short selling and returns and the impact of arbitrage costs on short sellers’ behavior. Using daily UK short selling data, we find that stocks with low short interest levels experience significant positive [...]


JOURNAL OF FINANCIAL MARKETS , 2008 (A. S. Au and Z. Onayev, co-authors)


Do Analysts Influence Corporate Financing and Investment?


We examine whether abnormal analyst coverage influences the external financing and investment decisions of the firm. Controlling for self-selection bias in analysts’ excessive coverage, we find that firms with high (low) analyst [...]


FINANCIAL MANAGEMENT, 37,2, Summer 2008, 303-339 (C. Kim and C. Pantzalis, co-authors)


Investment Decisions and Internal Capital Markets: Evidence from Acquisitions


In this paper, we examine the workings of internal capital markets in diversified firms that engage in [...]


JOURNAL OF BANKING AND FINANCE, 32, August 2008, 1484-1498 (O. Kan, co-author)


Divergence of Opinion and Equity Returns


In this paper, we examine the relation between stock returns and analysts' heterogeneous expectations. We find that stock [...]


JOURNAL OF FINANCIAL QUANTITATIVE ANALYSIS, Vol. 41, 3, September 2006, 573-606 (C. Kim and C. Pantzalis, co-authors)


Does Global Diversification Destroy Firm Value


Previous empirical studies have found that global diversification results in 18% shareholder loss. In this paper, we examine the sources behind the global diversification shareholder value loss in a [...]


JOURNAL OF INTERNATIONAL BUSINESS STUDIES,Vol. 37, 352-371, 2006 (O. B. Kan, co-author)



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