Faculty Members

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Prof. Aristotelis STOURAITIS

Professor
Programme Director, MSc in Finance (Fintech and Financial Analytics)
Finance Discipline
Department of Accountancy, Economics and Finance
Director, Centre for Corporate Governance and Financial Policy

stoura@hkbu.edu.hk
3411 7561
WLB 803
https://orcid.org/0000-0002-0358-8546
Aristotelis STOURAITIS public CV
View Scopus Profile

Professor Aris Stouraitis is Professor of Finance in the Department of Accountancy, Economics & Finance, Director of the Centre for Corporate Governance & Financial Policy, and Director of the MSc in Finance (Fintech & Financial Analytics) at Hong Kong Baptist University. He holds Bachelor’s degrees in economics, accounting and finance from the American College of Greece, MSc in Management from INSEAD (France), and PhD in Finance from Imperial College London (United Kingdom). 

His academic research interests are in corporate finance, with emphasis on corporate restructuring, corporate governance, and corruption. His research has been published in the Journal of Financial Economics, Management Science, Journal of Financial and Quantitative Analysis, Review of Finance, Review of Corporate Finance Studies, Journal of Corporate Finance and other international academic journals. He has made presentations at conferences organized by the U.S. National Bureau of Economic Research (NBER), Harvard Business School, the European Finance Association, the Asian Finance Association, and in more than 30 other international academic conferences worldwide. His research or commentary has been quoted in media outlets in North and South America, Europe, Asia, and Hong Kong, including Bloomberg, The Economist magazine, The Straits Times, Channel News Asia and The Business Times (Singapore), the leading German financial daily newspaper Handelsblatt, Radio Television Hong Kong (RTHK), Hong Kong Economic Journal, and Superinteressante (Brazil). 

He is a member of the Governing Council of the Institute of Financial Technologists of Asia (IFTA).

Corporate finance, M&A and corporate restructuring, corporate governance, corruption

Corporate finance, M&A and corporate restructuring, business valuation

BA Economics/Accounting & Finance (The American College of Greece)

MSc Management (INSEAD)

PhD Finance (Imperial College London)

Solving Serial Acquirer Puzzles

Macias, A., Rau, P. R. &Stouraitis, A.,Feb 2025,In:Review of Corporate Finance Studies.14,1,p. 35–8450 p.
Research output : Contribution to journal › Journal article › peer-review

Corporate Governance and Governance Professionals In Hong Kong/China: Upping the Game

Young, A., McCalman, J. &Stouraitis, A.,Jun 2023,The Hong Kong Chartered Governance Institute.66 p.
Research output : Book/Report › Book or report

What Determines the Return to Bribery? Evidence from Corruption Cases Worldwide

Cheung, Y.-L., Rau, P. R. &Stouraitis, A.,Oct 2021,In:Management Science.67,10,p. 6235-626531 p.
Research output : Contribution to journal › Journal article › peer-review

Does the market understand the ex ante risk of expropriation by controlling shareholders?

Cheung, Y.-L., Rau, P. R.,Stouraitis, A.& Tan, W.,Jun 2021,In:Journal of Corporate Finance.68,22 p., 101946.
Research output : Contribution to journal › Journal article › peer-review

Report on Survey Findings Board Characteristics 2020

Cheung, S. Y. L. &Stouraitis, A.,Jun 2020,1st ed.Hong Kong:Hong Kong Institute of Directors.4 p.
Research output : Book/Report › Book or report

Report on the HKIoD Corporate Governance Scorecard 2020

Cheung, S. Y. L. &Stouraitis, A.,May 2020,1st ed.Hong Kong:Hong Kong Institute of Directors.52 p.
Research output : Book/Report › Book or report

An ill wind? Terrorist attacks and CEO compensation

Dai, Y., Rau, P. R.,Stouraitis, A.& Tan, W.,Feb 2020,In:Journal of Financial Economics.135,2,p. 379-39820 p.
Research output : Contribution to journal › Journal article › peer-review

Report on Survey Findings Board Characteristics 2016

Cheung, S. Y. L. &Stouraitis, A.,Dec 2016,1st ed.Hong Kong:Hong Kong Institute of Directors.4 p.
Research output : Book/Report › Book or report

Report on the HKIoD Corporate Governance Scorecard 2016

Cheung, S. Y. L. &Stouraitis, A.,Dec 2016,1st ed.Hong Kong:Hong Kong Institute of Directors.73 p.
Research output : Book/Report › Book or report

When do controlling shareholders expropriate? Controlling shareholder performance and cash transfer tunneling from listed firms in China

Cheung, Y.-L., Rau, P. R.,Stouraitis, A.& Tan, W.,May 2015.
Research output : Contribution to conference › Conference paper

Corporate Restructuring And Accounting Information

Stouraitis, A.,21 Jan 2015,Wiley Encyclopedia of Management.Clubb, C. & Imam, S. (eds.).John Wiley & Sons Ltd,Vol. 1.6 p.
Research output : Chapter in book/report/conference proceeding › Entry for encyclopedia/dictionary › peer-review

How much do firms pay as bribes and what benefits do they get? Evidence from corruption cases worldwide

Cheung, S. Y. L., Rau, P. R. &Stouraitis, A.,Apr 2012,National Bureau of Economic Research,71 p.(NBER Working Paper Series; no. 17981).
Research output : Working paper

Overvaluation, Bidder Returns, and the Method of Payment in Acquisitions: Evidence from Serial Acquirers

Macias, A. J., Rau, P. R. &Stouraitis, A.,15 Mar 2012,SSRN,49 p.(S&P Global Market Intelligence Research Paper Series).
Research output : Working paper

Corporate Governance, Investment, and Firm Valuation in Asian Emerging Markets

CHEUNG, S. Y. L.,STOURAITIS, A.& TAN, W.,Sept 2011,In:Journal of International Financial Management and Accounting.22,3,p. 246-27328 p.
Research output : Contribution to journal › Journal article › peer-review

Patterns in the timing of corporate event waves

Rau, P. R. &Stouraitis, A.,Feb 2011,In:Journal of Financial and Quantitative Analysis.46,1,p. 209-24638 p.
Research output : Contribution to journal › Journal article › peer-review

Does the quality of corporate governance affect firm valuation and risk? evidence from a corporate governance scorecard in Hong Kong

Cheung, Y. L. S.,Stouraitis, A.& Tan, W.,Dec 2010,In:International Review of Finance.10,4,p. 403-43230 p.
Research output : Contribution to journal › Journal article › peer-review

Helping hand or grabbing hand central vs. Local government shareholders in Chinese listed firms

Cheung, S. Y. L., Rau, P. R. &Stouraitis, A.,Oct 2010,In:Review of Finance.14,4,p. 669-69426 p.
Research output : Contribution to journal › Journal article › peer-review

Tunneling and propping up: An analysis of related party transactions by Chinese listed companies

Cheung, S. Y. L., Jing, L., Lu, T., Rau, P. R. &Stouraitis, A.,Jun 2009,In:Pacific Basin Finance Journal.17,3,p. 372-39322 p.
Research output : Contribution to journal › Journal article › peer-review

Buy high, sell low: How listed firms price asset transfers in related party transactions

Cheung, S. Y. L., Qi, Y., Raghavendra Rau, P. &Stouraitis, A.,May 2009,In:Journal of Banking and Finance.33,5,p. 914-92411 p.
Research output : Contribution to journal › Journal article › peer-review

Tunneling, propping, and expropriation: evidence from connected party transactions in Hong Kong

Cheung, S. Y. L., Rau, P. R. &Stouraitis, A.,Nov 2006,In:Journal of Financial Economics.82,2,p. 343-38644 p.
Research output : Contribution to journal › Journal article › peer-review

Ownership concentration and executive compensation in closely held firms: Evidence from Hong Kong

Cheung, S. Y. L.,Stouraitis, A.& Wong, A. W. S.,Sept 2005,In:Journal of Empirical Finance.12,4,p. 511-53222 p.
Research output : Contribution to journal › Journal article › peer-review

Ownership concentration, firm performance, and dividend policy in Hong Kong

Chen, Z., Cheung, S. Y. L.,Stouraitis, A.& Wong, A. W. S.,Sept 2005,In:Pacific Basin Finance Journal.13,4,p. 431-44919 p.
Research output : Contribution to journal › Journal article › peer-review

Acquisition premiums when investment banks invest their own money in the deals they advise and when they do not: Evidence from acquisitions of assets in the UK

Stouraitis, A.,Oct 2003,In:Journal of Banking and Finance.27,10,p. 1917-193418 p.
Research output : Contribution to journal › Journal article › peer-review

The significance of sell-off profitability in explaining the market reaction to divestiture announcements

Clubb, C. &Stouraitis, A.,Apr 2002,In:Journal of Banking and Finance.26,4,p. 671-68818 p.
Research output : Contribution to journal › Journal article › peer-review

Reversing corporate diversification and the use of the proceeds from asset sales: The case of Thorn EMI

Kaiser, K. M. J. &STOURAITIS, A.,Dec 2001,In:Financial Management.30,4,p. 63-10240 p.
Research output : Contribution to journal › Journal article › peer-review

Agency Costs and Strategic Considerations behind Sell-offs: the UK Evidence

Kaiser, K. M. J. &Stouraitis, A.,Sept 2001,In:European Financial Management.7,3,p. 319-34931 p.
Research output : Contribution to journal › Journal article › peer-review

Value creation through corporate restructuring: European divestitures

Kaiser, K. &Stouraitis, A.,Jun 1995,In:European Management Journal.13,2,p. 164-17411 p.
Research output : Contribution to journal › Journal article › peer-review