I am a Professor in Finance at the University of Sussex Business School.
My research interests lie primarily in Banking, Corporate Finance and Contract Theory.
Contact: University of Sussex Business School.
email: k.koufopoulos (at) sussex.ac.uk
PUBLICATIONS:
"Can information imprecision be valuable? The case of credit ratings", (with Sonny Biswas and Anjan Thakor), Journal of Financial Intermediation, 2024, 60, 101114.
“Separating Equilibria, Underpricing and Security Design”, (with Dan Bernhardt and Giulio Trigilia), Journal of Financial Economics, 2022, 145, 788-801.
"Bank Capital Structure and Regulation: Overcoming and Embracing Adverse Selection", (with Sonny Biswas), Journal of Financial Economics, 2022, 143, 973-992.
“Is There a Paradox of Pledgeability?”, (with Dan Bernhardt and Giulio Trigilia), Journal of Financial Economics, 2020, 137, 606 – 611.
“Bank Competition and Financing Efficiency under Asymmetric Information”, (with Sonny Biswas), Journal of Corporate Finance, 2020, 65, 101504.
“Optimal Security Design under Asymmetric Information and Profit Manipulation”, (with Roman Kozhan and Giulio Trigilia), Review of Corporate Finance Studies, 2019, 8, 146–173.
“(Neutrally) Optimal Mechanism under Adverse Selection: the canonical insurance problem” (with Theodoros Diasakos), Games & Economic Behavior, 2018, 111, 159 – 186.
“Short-term Corporate Debt Around The World”, (with Marco Sorge and Chendi Zhang), Journal of Money, Credit and Banking, 2017, 49, 997 – 1029.
“Efficient Allocations in Economies with Asymmetric Information when the Realized Frequency of Types is Common Knowledge”, (with Aristotelis Boukouras), Economic Theory, 2017, 64, 75 – 98.
“Supply of Capital and Capital Structure: The Role of Financial Development”, (with Angelos Antzoulatos, Costas Lambrinoudakis, and Emmanuel Tsiritakis), Journal of Corporate Finance, 2016, 38, 166 – 195.
“Optimal Insurance Under Adverse Selection and Ambiguity Aversion”, (with Roman Kozhan), Economic Theory, 2016, 62, 659 – 687.
“Welfare-Improving Ambiguity in Insurance Markets with Asymmetric Information”, (with Roman Kozhan), Journal of Economic Theory, 2014, 151, 551 – 560.
“Optimal Securities under Adverse Selection and Moral Hazard”, Journal of Mathematical Economics, 2009, 45, 341 – 360.
“On the Positive Correlation Property in Competitive Insurance Markets”, Journal of Mathematical Economics, 2007, 43, 597 – 605.
WORKING PAPERS:
“Short-Term Debt Overhang”, (with Giulio Trigilia and Pavel Zryumov) R&R in the Review of Financial Studies.
"Creditor rights, lender competition and firm value", (with Dan Bernhardt and Giulio Trigilia).
“Profiting from the poor in competitive lending markets with adverse selection”, (with Dan Bernhardt and Giulio Trigilia).
“The pitfalls of pledgeable cash flows: soft budget constraints, zombie lending and under-investment”, (with Dan Bernhardt and Giulio Trigilia).
Bank entry and endogenous pricing power in the deposits market (with Sonny Biswas).
On- versus off- balance sheet bank funding: The role of covenants (with Sonny Biswas).
“Bank response to higher capital requirements under anticipated adverse selection”, (with Sonny Biswas and Songshan Li).
“Trade-Off? What Trade-Off: Informative Prices without Illiquidity”, (with Thierry Foucault and Roman Kozhan).
“Dynamic monopoly power and the Coase conjecture”, (with Xuyuanda Qi, and Giulio Trigilia).
“Demandable Debt and Leverage Ratchet Effect”, (with Xuyuanda Qi, and Giulio Trigilia).
"When do incomplete contracts matter?", (with Aristotelis Boukouras, Xuyuanda Qi, Giulio Trigilia).