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Dr. John Doukas
Selected Publications

Divergence of Opinion and Equity Returns under Different States of Earnings Expectations


In this paper, we show that divergence of opinion trades at a discount when analysts’ earnings forecasts are optimistic and at a premium when analysts’ earnings forecasts are pessimistic. Our results suggest[...]


JOURNAL OF FINANCIAL MARKETS, Vol 9, 310-331,2006 (C. Kim and C. Pantzalis, co-authors)


Two Faces of Analyst Coverage


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FINANCIAL MANAGEMENT, Volume 34, Issue 2, Summer, 2005 (C. Kim and C. Pantzalis, co-authors)


Foreign Direct Investment, Diversification and Firm Performance


In this study we present evidence that geographic diversification increases shareholder value and improves long-term performance when firms engage in core-related foreign direct [...]


JOURNAL OF INTERNATIONAL BUSINESS STUDIES, 34, March 2003, 153-172 (L. H. P. Lang, co-author)


Excess Cash Flows and Diversification Discount


Recent empirical studies find that the average diversified firm trades at a discount relative to a portfolio of comparable single-segment firms. This literature suggests that diversification itself might be the [...]


FINANCIAL MANAGEMENT, 23, 2, Summer 2004, 71-88 (O.B.Kan, co-author)



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