Dr Christos ALEXAKIS

Associate Professor

Department : Finance and Accounting

Nationalities :


  • Doctor of Philosophy (Ph.D.)
  • Master of Science (M.Sc.)
  • Bachelor of Science (B.Sc.)


  • Financial Accounting
  • Corporate Finance
  • Capital Markets
  • Behavioral Finance
  • Financial Analysis
  • Commercial & Investment Banking
  • Portfolio Theory
  • Banking

Teaching at undergraduate level

  • Associate Professor, Department of Economics, University of Piraeus, (2011-2015)
  • Assistant Professor, Department of Economics, University of Piraeus, (2005-2011)
  • Lecturer, Department of Economics, University of Athens, (1999–2005)
  • Lecturer, Department of Economics, University of Leeds, (1989-1990)
  • Lecturer, Department of Economics, Bradford University, (1990-1991)
  • Tutor, Department of Economics, University of York, (1989-1990)

Teaching in Graduate Level

  • Postgraduate Program Banking and Finance, International Hellenic University (English) (2004 – 2015)
  • Postgraduate Programme Economic and Business Strategy, Department of Economics, University of Piraeus (2004 – 2015)
  • Postgraduate Programme Health Economics, Department of Economics, University of Piraeus, (2004 – 2015)
  • Postgraduate Programme Banking, Hellenic Open University, (2004-2015)
  • Graduate Programme Health Economics, Department of Economics, University of Athens, (2002-2006)
  • Graduate Programme Mathematic Modeling in Economics, Athens Polytechnic, (2004 -2006)

Work Experience

Christos Alexakis is Associate Professor in the Department of Finance and Accounting at Rennes School of Business, France. He has written a number of scientific papers published in high quality referred academic journals, as well as several books related to finance.
Christos Alexakis has worked as CEO from 1999 to 2005 in Marfin Investment Group SA (a big Investment Company listed in the Athens Stock Exchange). He was responsible for the open-end and closed-end end funds of the company. He also served as a member of the Board of Marfin Bank. Christos Alexakis was one of the pioneers of Relationships with Investors (Investors Relations) in Greece and developed this important activity for the company.
Since April 2010 until end 2011, he was CEO in Invest in Greece SA. Invest in Greece SA is the official investment promotion agency for Greece, (www.investingreece.gr). He was responsible for the Fast-Track Investment Law in Greece. During the period he was CEO, and according to the World Bank Group’s Global Investment Promotion Best Practices 2012 Report, April 2012, Invest in Greece Agency SA systematically presented “a solid business case” and “leapt from being an average facilitator in 2009 to one of the world’s best practice agencies in 2012”.
For the period 2016-2020 he was a member of the Stakeholders Group of the European Securities and Markets Authority (ESMA) as a top ranking academic in the field of finance in Europe. In 2017 he was appointed as the representative of the Bank of Greece (the Greek central bank) in the Selection Committee of the Hellenic Financial Stability Fund (HFSF).


  • Associate professor, Finance & Accounting Academic Area, Rennes School of Business (August 2015 – Present)
  • Associate Professor, University of Piraeus (June, 2005 – August, 2015), Piraeus, Greece
  • Lecturer, University of Athens (January, 1999 – May, 2005), Athens, Greece


  • CEO, Invest in Greece SA (April, 2010 – September, 2011), Athens, Greece
  • CEO, Marfin Financial Group (January, 1999 – January, 2005), Athens, Greece

Research Interests

  • Asset Pricing
  • Behavioral Finance
  • Corporate Finance
  • Islamic Finance
  • Health Economics
  • Tourism Economics

Academic Background

  • Doctor of Philosophy (Ph.D.), Department of Economics, University of York, U.K. (1992)
  • Master of Science (M.Sc.), Department of Economics, University of York, U.K. (1988)
  • Bachelor of Science (B.Sc.), Department of Economics, University of Piraeus, Greece


Service to the profession

Referee in Academic Journals – Member in Editorial Boards

  • Referee for the Academic Journals: Journal of Banking and Finance, Applied Financial Economics, Empirical Economics, Multinational Finance Journal, Managerial Finance, European Research Studies, Spoudai. Member of the Editorial Boards: Journal of Money Investment and Banking και The Review of Financial and Accounting Studies. Emerging Markets Finance and Trade, Journal of Economic Behavior and Organization.

Membership in Scientific Organisations

  • Member of European Finance Association, Member of Eastern Finance Association,
    Member of Multinational Finance Society, Member of European Accounting Association, Member of Atlantic Economic Society

Ph. D Supervising

  • Successful supervision of three Ph.D theses. Supervision of more than one hundred M.Sc dissertations.


  • International Visitor Leadership Program (IVLP)
    2013 – U.S. Government – Department of State
  • Honourary Degree in Maritime Economics, Greek Chamber of Maritime Affairs (1987)
  • Ellis Hunter Scholarship, University of York (1989-1992)

Intellectual contributions

Refereed Articles Discipline-Based Scholarship

Do hotel financial factors influence satisfaction?

Authors:Alexakis, Christos; Dowling, Michael; Pappas, Vasileios; Ramachandiran, Manimozhi; Sklavos, Favianos Published in:Pergamon-Elsevier Science Ltd Date:2020

Textual Machine Learning: An Application to Computational Economics Research

Authors:Alexakis, Christos; Dowling, Michael; Eleftheriou, Konstantinos; Polemis, Michael Published in:Springer US Date:2020

COVID-19 containment measures and stock market returns: An international spatial econometrics investigation

Authors:Alexakis, Christos; Eleftheriou, Konstantinos; Patsoulis, Patroklos Published in:Journal of behavioral and experimental finance Date:2020

Performance and productivity in Islamic and conventional banks: Evidence from the global financial crisis.

Authors:Alexakis, C., Izzeldin, M., Johnes, J., Pappas, V. Published in:Economic Modelling, Volume 79 (2019), pp. 1-14 Date:2019

A high-frequency analysis of price resolution andpricing barriers in equities on the adoption of a new currency

Authors:Alexakis, C., Cummins, M., Dowling, M., Pappas, V. Published in:Applied Economics, Vol. 50, No. 36, 2018, pp. 3949-3965 Date:2018

Sectoral dynamics of financial contagion in Europe - The cases of the recent crises episodes

Authors:Alexakis, C., Pappas, V. Published in:Economic Modelling, Vol. 73, pp. 222-239 Date:2018

Do Cointegrated Commodities Bubble Together? The Case of Hog, Corn, and Soybean

Authors:Alexakis, Christos , Guillaume Bagnarosa, and Michael Dowling Published in:Finance Research Letters Vol. 23 (2017), pp. 96-102 Date:2017

Statistical Arbitrage Strategies under Different Market Conditions: The Case of the Greek Banking Sector

Authors:Mavrakis, E., Alexakis, Christos A Published in:Journal of Emerging Market Finance Vol. 17 (2), pp. 1–27 Date:2018

Hidden cointegration reveals hidden values in Islamic investments

Authors:Alexakis, Christos A, Pappas, V., Tsikouras, A Published in:Journal of International Financial Markets, Institutions & Money, Vol. 46 (2017), pp. 70-83 Date:2017

Performance persistence in fixed interest funds: with an eye on the post debt crisis period

Authors:A. Dasilas and C. Grose Published in:Journal of International Financial Markets, Institutions & Money Date:2014

Asymmetric dynamic relations between stock prices and mutual fund units in Japan. An application of hidden cointegration technique

Authors:A. Dasilas and C. Grose, International Review of Financial Analysis, vol. 28, 1-8. ABDC List A, ABS List 3. (2013) Published in:International Review of Financial Analysis, vol. 28, 1-8. ABDC List A, ABS List 3. (2013) Date:2013

Financial Crisis, Ownership Effect and Investors Sentiment. Empirical Evidence from the Banking Sector in Greece

Published in:European Research Studies, issue 3. 3-18. (2011) Date:2011

Long-run Relations among Equity Indices under Different Market Conditions: Implications on the Implementation of Statistical Arbitrage Strategies

Published in:Journal of International Financial Markets, Institutions & Money, Vol. 20, I 14, 389-403. ABDC List A, ABS List 3. (2011) Date:2011

Predictability of stock returns using financial statement information: evidence on the semistrong efficiency of emerging Greek stock market

Authors:Patra and Sunil Poshakwale Published in:Applied Financial Economics Date:2010

Is Moderate Market Performance in the U.S. a Sufficient Condition for Abnormal Returns on CEFs?

Published in:Mavrakis, International Advances in Economic Research, Vol. 16 (1), 80-95. ABDC List C. (2010) Date:2010

Islamic finance: regulatory framework – challenges lying ahead

Authors:A. Tsikoura Published in:International Journal of Islamic and Middle Eastern Finance and Management Date:2009

Empirical Tests on the Stock Price Behavior of Privatized Enterprises in Greece

Authors:M. Xanthaki and M. Kolomitsini, Published in:Journal of Money Investment and Banking, Issue 6, 2008, 5-16. (2008) Date:2008

Stock Markets’ Linkages: An Empirical Investigation for Long-term International Diversification Benefits

Authors:E. Mavraki, Published in:International Research Journal of Finance and Economics, Issue 21, 163-178. ABDC List C, Date:2008

Market Efficiency and Company Size. Empirical Evidence from the Athens Stock Exchange

Published in:European Journal of Economics Finance and Administrative Studies Date:2008

Investigating the effects of market microstructure on stock price formation and volatility: evidence from the Athens Stock Exchange

Authors:D. Balios Published in:Applied Financial Economics Letters, 2008, Vol. 4, Issue 3, 225-231. ABDC List C. (2008) Date:2008

A Dynamic Approach for the Evaluation of Portfolio Performance Under Risk Conditions

Authors:D. Balios and S. Stavraki Published in:Investment Management and Financial Innovations, 2007, Vol. 4, Issue 4, 16-24. ABDC List C, ABS List 1. (2007) Date:2007

An Empirical Investigation of the Stock Price Dynamics Between Athens, Istanbul and London

Authors:J. Paleolaiologo Published in:J. Paleolaiologo, Rivista Interantionale, 2007, Vol. LX, No 3, 293-304. (2007) Date:2007

An Empirical Investigation of the Visible Effects of Corporate Governance: The Case of Greece

Authors:E. Xanthaki, D. Balio and G. Papageli Published in:Managerial Finance, 2006, Vol. 32, Issue 8, 673-684. ABDC List B, ABS List 1. (2006) Date:2006

The dynamics Between Stock Returns and Mutual Fund Flows. Empirical Evidence from the Greek Market

Authors:N. Niarcho, T. Patra and S. Poshakwale Published in:International Review of Financial Analysis, 2005, 14(5), 559-569. ABDC List A, ABS List 3. (2005) Date:2005

Market Trend, Company Size and Microstructure Characteristics of Intraday Price Formations

Authors:e. Xanthaki Published in:European Research Studies, 2003, Vol. VI, Issue 1-2, 81-96. (2003) Date:2003

Intraday Stock Market Patterns in the Greek Stock Exchange

Authors:N. Niarcho Published in:Applied Financial Economics, 2003, Vol. 13, Issue 1, 13-22. ABDC List B, ABS List 1. (2003) Date:2003

The long Term Dynamics of the European Stock Exchanges: Leaders and Followers

Authors:N. Niarcho Published in:European Research Studies, 2000, Vol. III, Issue 1-2, 57-66. (2000) Date:2000

A Granger - Causality Analysis of the Public Deficit Money Supply Relationship: Some Evidence from Greece

Authors:I. PAnagopoulo and A. Spilioti Published in:SPOUDAI, 2000, Vol. 50, No 3-4, 3-18. (2000) Date:2000

The Predictive Power of Macroeconomic Variables on Stock Market Returns. The Case of the Athens Stock Exchange

Authors:N. Niarcho Published in:SPOUDAI, 2000, Vol. 50, No 1-2, 74-86. (2000 Date:2000

Stock Market Prices Causality and Efficiency. Evidence from the Athens Stock Exchange

Authors:N. Niarcho Published in:Applied Financial Economics, 1998, Vol. 8, Issue 2, 167-174. ABDC List B, ABS List 1. (1998) Date:1998

Refereed Proceedings Discipline-Based Scholarship

Topics in Islamic finance

Authors:Alexakis, C., Michael Dowling, Essedine Ghlamallah, and Anke Piepenbrink Published in:Society for the Advancement of Socio-Economics (SASE) , New York, United States of America, June 2019 Date:2019

Finance islamique et inclusion financière

Authors:Alexakis, C., Kenourgios, Pappas, V. Published in:Symposium algérien de l'Assurance et de la Finance Islamiques, Alger, Algeria, November 2018 Date:2018

Long-Run Asymmetric Relationships between Islamic and Conventional Equity Indices

Published in:4thConference of the European Asian Economics, Finance &Accounting and Econometric Association Date:2014

Asymmetries of Stock Price Dynamics in U.K. An Application of Hidden Co-Integration Technique

Published in:The 73rd International Atlantic Economic Conference Date:2012

Stock Prices, Net Asset Values and Investors’ Sentiment

Published in:The 67th International Atlantic Economic Conference Date:2009

An Empirical Investigation of the Links between South-East Mediterranean Sea Stock Market

Published in:Yasar University Economics Conference Date:2006

Empirical Tests of the Stock Price Behavior of Privatized Enterprises in Greece”

Published in:Multinational Finance Society Date:2004

Books, Monographs, Compilations, Manuals Book (in Greek)

Encyclopedia of Islamic Insurance, Takaful and Retakaful

Authors:Mohd Ma’Sum Billah, Ezzedine GhlamAllah, Christos Alexakis, Published in:Edward Elgar Publishing Limited, Cheltenham, 448 p Date:2019

Islamic Banking and Finance

Authors:A. Tsikouras Date:2010

Behavioral Finance. An Introduction

Published in:E. Xantaki, Prologue by N. Barberis, Yale University (2008) Date:2008

Financial Accounting

Authors:N. Niarchos and N. Iriotis Date:2006

Corporate Finance

Authors:E. Xanthakis Date:2006

Stock Market Economics


Capital Markets and Stock Market Investments

Published in:Greek Open University Date:2000

Brealey, Myers and, Allen, “Corporate Finance”, McGrawHill. (Greek Edition), Chief Editor

Authors:Brealey, Myers and, Allen Published in:McGrawHill. (Greek Edition), Chief Editor Date:2013