Professor Serafeim Tsoukas

  • Professor in Corporate Finance and Banking (Accounting & Finance)

telephone: 01413306325
email: Serafeim.Tsoukas@glasgow.ac.uk

Biography

Serafeim Tsoukas joined Economics the Adam Smith Business School in January 2011 and was previously an ESRC postdoctoral fellow at the University of Nottingham. He holds an Economics PhD from the University of Nottingham and further Finance and Economics degrees from the Universities of Nottingham (MSc) and Patras (BSc).

Serafeim has held visiting research positions at the Bank for International Settlements, the Bank of Portugal, the Hong Kong Monetary Authority, the Federal Reserve Bank of San Francisco and Columbia Business School.


Research interests

Serafeim is a member of the Finance research cluster.

Areas of expertise:

  • Corporate finance
  • Bank lending
  • Firm performance
  • Credit risk modelling

Grants

  • SIRE - Early Career Engagement Grant, August 2013
  • Adam Smith Research Foundation - Asian bond markets, December 2012
  • Carnegie Trust - Research Grant, October 2011
  • BESTS - University of Nottingham, November 2010
  • Universitas 21 - Visiting fellowship, October 2010
  • Fitch Ratings - Market Implied Ratings, January 2008
  • ESRC - New Directions in the Economics of Finance, Postdoctoral Fellowship, October 2008

Supervision

Completed 

Udichibarna Bose
ESRC funded, PhD 2016 (now a lecturer at the University of Essex)

Filipa Fernandes
PhD 2016 (now a lecturer at the University of Aberdeen)

Mahdi Lofti-Heravi
PhD 2015

Kai Wong
PhD 2018 (now a trader in Hong Kong)

Ping Zhang
Chinese Government funded, PhD 2019 (job market candidate)

In progress

  • Yujing Chi (entry October 2018)
  • Paul Lavery, University of Glasgow funded (entry October 2017)
  • Kulnicha Meechaiyo, (entry October 2017)
  • Adhiraj Singh Rathore, (entry October 2017)
  • Ahmed Prapan, University of Glasgow funded
  • Zerun Liu, (entry January 2015)

Teaching

Current lecturing

  • International Banking and Financial Markets (MSc), University of Glasgow
  • Financial Management in Banking (MSc)

Previous lecturing/tutoring

  • 2011-2016: Corporate Finance and Investment (MSc), University of Glasgow
  • 2011-2016: Modern Theory of Banking and Finance (MSc), University of Glasgow
  • 2008-2010: Financial Econometrics (MSc), University of Nottingham
  • 2007-2008: Financial Economics, Applied Economics, University of Newcastle
  • 2004-2007: Macroeconomic Theory, Introductory Econometrics, Quantitative Methods, University of Nottingham

Additional information

CV: Serafeim Tsoukas

  • Finance Cluster co-lead
  • Associate Editor, Economic Modelling
  • External examiner for the MSc programmes at the University of Bath
  • External appointment and promotion committee for the University of Essex

Publications

List by: Type | Date

Jump to: 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2008
Number of items: 24.

2019

Da Silva Fernandes, F., Kontonikas, A. and Tsoukas, S. (2019) On the real effect of financial pressure: evidence from firm-level employment during the euro-area crisis. Oxford Bulletin of Economics and Statistics, 81(3), pp. 617-646. (doi:10.1111/obes.12278)

Farinha, L., Spaliara, M.-E. and Tsoukas, S. (2019) Bank shocks and firm performance: new evidence from the sovereign debt crisis. Journal of Financial Intermediation, (doi:10.1016/j.jfi.2019.01.005) (In Press)

Sermpinis, G. , Tsoukas, S. and Zhang, P. (2019) What influences a bank’s decision to go public? International Journal of Finance and Economics, (Accepted for Publication)

Bose, U., MacDonald, R. and Tsoukas, S. (2019) Policy initiatives and firms' access to external finance: evidence from a panel of emerging Asian economies. Journal of Corporate Finance, (doi:10.1016/j.jcorpfin.2016.09.008) (In Press)

2018

Sermpinis, G. , Tsoukas, S. and Zhang, P. (2018) Modelling market implied ratings using LASSO variable selection techniques. Journal of Empirical Finance, 48, pp. 19-35. (doi:10.1016/j.jempfin.2018.05.001)

Fong, T., Mizen, P. and Tsoukas, S. (2018) A Taste for Dim Sum: Analysing the Financial Diffusion in the New Offshore Renminbi Debt Securities. Working Paper. Hong Kong Institute for Monetary Research.

2017

Tsoukalas, J., Tsoukas, S. and Guariglia, A. (2017) To what extent are savings-cash flow sensitivities informative to test for capital market imperfections? Review of Finance, 21(3), pp. 1251-1285. (doi:10.1093/rof/rfw043)

Spaliara, M. E. and Tsoukas, S. (2017) Corporate failures and the denomination of corporate bonds: Evidence from emerging Asian economies over two financial crises. Journal of International Financial Markets, Institutions and Money, 46, pp. 84-97. (doi:10.1016/j.intfin.2016.08.005)

2016

Guariglia, A., Spaliara, M. E. and Tsoukas, S. (2016) To what extent does the interest burden affect firm survival? Evidence from a panel of UK firms during the recent financial crisis. Oxford Bulletin of Economics and Statistics, 78(4), pp. 576-594. (doi:10.1111/obes.12120)

Byrne, J. P., Spaliara, M. E. and Tsoukas, S. (2016) Firm survival, uncertainty and financial frictions: is there a financial uncertainty accelerator? Economic Inquiry, 54(1), pp. 375-390. (doi:10.1111/ecin.12240)

2015

Bose, U., MacDonald, R. and Tsoukas, S. (2015) Education and the local equity bias around the world. Journal of International Financial Markets, Institutions and Money, 39, pp. 65-88. (doi:10.1016/j.intfin.2015.06.002)

Mizen, P. and Tsoukas, S. (2015) Exploring Determinants of Firms’ Participation in the New Offshore Renminbi Debt Securities Market. Working Paper. Hong Kong Institute for Monetary Research.

Mizen, P., Packer, F., Remolona, E. and Tsoukas, S. (2015) Capital structure and the issuance of corporate bonds emerging Asia. In: Azis, I. and Shin, H. S. (eds.) Global Shock, Risks, and Asian Financial Reform. Edward Elgar: Cheltenham. ISBN 9781783477937

2014

Tsoukas, S. and Spaliara, M.E. (2014) Market implied ratings and financing constraints: evidence from US firms. Journal of Business Finance and Accounting, 41(1-2), pp. 242-269. (doi:10.1111/jbfa.12062)

Mizen, P. and Tsoukas, S. (2014) What promotes greater use of the corporate bond market? A study of the issuance behaviour of firms in Asia. Oxford Economic Papers, 66(1), pp. 227-253. (doi:10.1093/oep/gpt005)

2013

Spaliara, M.E. and Tsoukas, S. (2013) What matters for corporate failures in Asia? Exploring the role of firm-specific characteristics during the Asian crisis. Structural Change and Economic Dynamics, 26, pp. 83-96. (doi:10.1016/j.strueco.2012.12.002)

2012

Guariglia, A., Tsoukalas, J. and Tsoukas, S. (2012) Investment, irreversibility, and financing constraints: Evidence from a panel of transition economies. Economics Letters, 117(3), pp. 582-584. (doi:10.1016/j.econlet.2012.07.031)

Mizen, P., Packer, F., Remolona, E. and Tsoukas, S. (2012) Why do firms issue abroad? Lessons from onshore and offshore corporate bond finance in Asian emerging markets. Working Paper. Bank for International Settlements.

Mizen, P. and Tsoukas, S. (2012) The response of the external finance premium in Asian corporate bond markets to financial characteristics, financial constraints and two financial crises. Journal of Banking and Finance, 36(11), pp. 3048-3059. (doi:10.1016/j.jbankfin.2012.07.005)

Mizen, P. and Tsoukas, S. (2012) Forecasting US bond default ratings allowing for previous and initial state dependence in an ordered probit model. International Journal of Forecasting, 28(1), pp. 273-287. (doi:10.1016/j.ijforecast.2011.07.005)

2011

Tsoukas, S. (2011) Firm survival and financial development: evidence from a panel of emerging Asian economies. Journal of Banking and Finance, 35(7), pp. 1736-1752. (doi:10.1016/j.jbankfin.2010.12.008)

2010

Mizen, P. and Tsoukas, S. (2010) What Effect has Bond Market Development in Emerging Asia had on the Issuance of Corporate Bonds? Working Paper. Hong Kong Institute for Monetary Research.

Spaliara, M.E. and Tsoukas, S. (2010) The Role of Bond Finance in Firms’ Survival During the Asian Crisis. Working Paper. Hong Kong Institute for Monetary Research.

2008

Mizen, P. and Tsoukas, S. (2008) Evidence on the External Finance Premium from the US and Emerging Asian Corporate Bond Markets. Working Paper. Hong Kong Institute for Monetary Research.

This list was generated on Mon Sep 23 04:12:49 2019 BST.
Number of items: 24.

Articles

Da Silva Fernandes, F., Kontonikas, A. and Tsoukas, S. (2019) On the real effect of financial pressure: evidence from firm-level employment during the euro-area crisis. Oxford Bulletin of Economics and Statistics, 81(3), pp. 617-646. (doi:10.1111/obes.12278)

Farinha, L., Spaliara, M.-E. and Tsoukas, S. (2019) Bank shocks and firm performance: new evidence from the sovereign debt crisis. Journal of Financial Intermediation, (doi:10.1016/j.jfi.2019.01.005) (In Press)

Sermpinis, G. , Tsoukas, S. and Zhang, P. (2019) What influences a bank’s decision to go public? International Journal of Finance and Economics, (Accepted for Publication)

Bose, U., MacDonald, R. and Tsoukas, S. (2019) Policy initiatives and firms' access to external finance: evidence from a panel of emerging Asian economies. Journal of Corporate Finance, (doi:10.1016/j.jcorpfin.2016.09.008) (In Press)

Sermpinis, G. , Tsoukas, S. and Zhang, P. (2018) Modelling market implied ratings using LASSO variable selection techniques. Journal of Empirical Finance, 48, pp. 19-35. (doi:10.1016/j.jempfin.2018.05.001)

Tsoukalas, J., Tsoukas, S. and Guariglia, A. (2017) To what extent are savings-cash flow sensitivities informative to test for capital market imperfections? Review of Finance, 21(3), pp. 1251-1285. (doi:10.1093/rof/rfw043)

Spaliara, M. E. and Tsoukas, S. (2017) Corporate failures and the denomination of corporate bonds: Evidence from emerging Asian economies over two financial crises. Journal of International Financial Markets, Institutions and Money, 46, pp. 84-97. (doi:10.1016/j.intfin.2016.08.005)

Guariglia, A., Spaliara, M. E. and Tsoukas, S. (2016) To what extent does the interest burden affect firm survival? Evidence from a panel of UK firms during the recent financial crisis. Oxford Bulletin of Economics and Statistics, 78(4), pp. 576-594. (doi:10.1111/obes.12120)

Byrne, J. P., Spaliara, M. E. and Tsoukas, S. (2016) Firm survival, uncertainty and financial frictions: is there a financial uncertainty accelerator? Economic Inquiry, 54(1), pp. 375-390. (doi:10.1111/ecin.12240)

Bose, U., MacDonald, R. and Tsoukas, S. (2015) Education and the local equity bias around the world. Journal of International Financial Markets, Institutions and Money, 39, pp. 65-88. (doi:10.1016/j.intfin.2015.06.002)

Tsoukas, S. and Spaliara, M.E. (2014) Market implied ratings and financing constraints: evidence from US firms. Journal of Business Finance and Accounting, 41(1-2), pp. 242-269. (doi:10.1111/jbfa.12062)

Mizen, P. and Tsoukas, S. (2014) What promotes greater use of the corporate bond market? A study of the issuance behaviour of firms in Asia. Oxford Economic Papers, 66(1), pp. 227-253. (doi:10.1093/oep/gpt005)

Spaliara, M.E. and Tsoukas, S. (2013) What matters for corporate failures in Asia? Exploring the role of firm-specific characteristics during the Asian crisis. Structural Change and Economic Dynamics, 26, pp. 83-96. (doi:10.1016/j.strueco.2012.12.002)

Guariglia, A., Tsoukalas, J. and Tsoukas, S. (2012) Investment, irreversibility, and financing constraints: Evidence from a panel of transition economies. Economics Letters, 117(3), pp. 582-584. (doi:10.1016/j.econlet.2012.07.031)

Mizen, P. and Tsoukas, S. (2012) The response of the external finance premium in Asian corporate bond markets to financial characteristics, financial constraints and two financial crises. Journal of Banking and Finance, 36(11), pp. 3048-3059. (doi:10.1016/j.jbankfin.2012.07.005)

Mizen, P. and Tsoukas, S. (2012) Forecasting US bond default ratings allowing for previous and initial state dependence in an ordered probit model. International Journal of Forecasting, 28(1), pp. 273-287. (doi:10.1016/j.ijforecast.2011.07.005)

Tsoukas, S. (2011) Firm survival and financial development: evidence from a panel of emerging Asian economies. Journal of Banking and Finance, 35(7), pp. 1736-1752. (doi:10.1016/j.jbankfin.2010.12.008)

Book Sections

Mizen, P., Packer, F., Remolona, E. and Tsoukas, S. (2015) Capital structure and the issuance of corporate bonds emerging Asia. In: Azis, I. and Shin, H. S. (eds.) Global Shock, Risks, and Asian Financial Reform. Edward Elgar: Cheltenham. ISBN 9781783477937

Research Reports or Papers

Fong, T., Mizen, P. and Tsoukas, S. (2018) A Taste for Dim Sum: Analysing the Financial Diffusion in the New Offshore Renminbi Debt Securities. Working Paper. Hong Kong Institute for Monetary Research.

Mizen, P. and Tsoukas, S. (2015) Exploring Determinants of Firms’ Participation in the New Offshore Renminbi Debt Securities Market. Working Paper. Hong Kong Institute for Monetary Research.

Mizen, P., Packer, F., Remolona, E. and Tsoukas, S. (2012) Why do firms issue abroad? Lessons from onshore and offshore corporate bond finance in Asian emerging markets. Working Paper. Bank for International Settlements.

Mizen, P. and Tsoukas, S. (2010) What Effect has Bond Market Development in Emerging Asia had on the Issuance of Corporate Bonds? Working Paper. Hong Kong Institute for Monetary Research.

Spaliara, M.E. and Tsoukas, S. (2010) The Role of Bond Finance in Firms’ Survival During the Asian Crisis. Working Paper. Hong Kong Institute for Monetary Research.

Mizen, P. and Tsoukas, S. (2008) Evidence on the External Finance Premium from the US and Emerging Asian Corporate Bond Markets. Working Paper. Hong Kong Institute for Monetary Research.

This list was generated on Mon Sep 23 04:12:49 2019 BST.