Professor Serafeim Tsoukas

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

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

Gilbert Scott Building, Room 673

Import to contacts

ORCID iDhttps://orcid.org/0000-0002-6911-639X

Biography

Serafeim Tsoukas joined 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

Publications

List by: Type | Date

Jump to: 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2008
Number of items: 40.

2025

Movaghari, Hadi ORCID logoORCID: https://orcid.org/0000-0001-6648-187X, Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X and Vagenas-Nanos, Evangelos ORCID logoORCID: https://orcid.org/0000-0002-2159-2186 (2025) Corporate cash policy and double machine learning. International Journal of Finance and Economics, 30(3), pp. 3261-3279. (doi: 10.1002/ijfe.3039)

Fernandes, Filipa da Silva, Guariglia, Alessandra, Kontonikas, Alexandros and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2025) Why do firms extend trade credit? The role of inventories. International Journal of Finance and Economics, 30(2), pp. 1785-1802. (doi: 10.1002/ijfe.2975)

2024

Morgan-Thomas, Anna ORCID logoORCID: https://orcid.org/0000-0002-2228-6463, Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X, Dudau, Adina ORCID logoORCID: https://orcid.org/0000-0001-5599-1487 and Gaska, Pawel (2024) Beyond declarations: metrics, journal rankings and responsible assessment. Research Policy, 53(10), 105093. (doi: 10.1016/j.respol.2024.105093)

Baskaya, Soner ORCID logoORCID: https://orcid.org/0000-0003-4416-4907, Gutierrez, Jose, Serena, Jose-Maria and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2024) Bank supervision and non-performing loan cleansing. Working Paper. Bank of Spain. (doi: 10.53479/37596).

Lavery, Paul ORCID logoORCID: https://orcid.org/0000-0002-4280-4926, Serena, Jose-Maria, Spaliara, Marina-Eliza ORCID logoORCID: https://orcid.org/0000-0002-6500-8666 and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2024) Private equity buyouts and exports: the impact of Brexit on UK firms. British Journal of Management, 35(1), pp. 364-377. (doi: 10.1111/1467-8551.12716)

2023

Lavery, Paul ORCID logoORCID: https://orcid.org/0000-0002-4280-4926, Spaliara, Marina-Eliza ORCID logoORCID: https://orcid.org/0000-0002-6500-8666 and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2023) Bank capital requirements and the impact on private equity. In: Hammer, Benjamin and Cumming, Douglas (eds.) The Palgrave Encyclopedia of Private Equity. Palgrave Macmillan: Cham. ISBN 9783030387389 (doi: 10.1007/978-3-030-38738-9_64-1)

Sermpinis, Georgios ORCID logoORCID: https://orcid.org/0000-0002-7341-8913, Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X and Zhang, Yiqun (2023) Modelling failure rates with machine-learning models: Evidence from a panel of UK firms. European Financial Management, 29(3), pp. 734-763. (doi: 10.1111/eufm.12369)

Lavery, Paul ORCID logoORCID: https://orcid.org/0000-0002-4280-4926, Spaliara, Marina-Eliza ORCID logoORCID: https://orcid.org/0000-0002-6500-8666 and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2023) Private equity and bank capital requirements: evidence from European firms. British Journal of Management, 34(1), pp. 390-409. (doi: 10.1111/1467-8551.12593)

2022

Serena, Jose-Maria, Spaliara, Marina-Eliza ORCID logoORCID: https://orcid.org/0000-0002-6500-8666 and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2022) International bank credit, nonbank lenders, and access to external financing. Economic Inquiry, 60(3), pp. 1214-1232. (doi: 10.1111/ecin.13078)

2021

Karavitis, Panagiotis ORCID logoORCID: https://orcid.org/0000-0002-6062-1197, Kokas, Sotirios and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2021) Gender board diversity and the cost of bank loans. Journal of Corporate Finance, 71, 101804. (doi: 10.1016/j.jcorpfin.2020.101804)

Mizen, Paul, Packer, Frank, Remolona, Eli and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2021) Original sin in corporate finance: new evidence from Asian bond issuers in onshore and offshore markets. Journal of International Money and Finance, 119, 102489. (doi: 10.1016/j.jimonfin.2021.102489)

Lavery, Paul ORCID logoORCID: https://orcid.org/0000-0002-4280-4926, Serena, Jose-Maria, Spaliara, Marina-Eliza ORCID logoORCID: https://orcid.org/0000-0002-6500-8666 and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2021) Private equity buyouts and firm exports: evidence from UK firms. Project Report. SUERF.

Lavery, Paul ORCID logoORCID: https://orcid.org/0000-0002-4280-4926, Serena, Jose-Maria, Spaliara, Marina-Eliza ORCID logoORCID: https://orcid.org/0000-0002-6500-8666 and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2021) Private equity buyouts and firm exports: evidence from UK firms. Working Paper. Bank for International Settlements.

Lavery, Paul, Serena, Jose-Maria, Spaliara, Marina Eliza ORCID logoORCID: https://orcid.org/0000-0002-6500-8666 and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2021) Private Equity Buyouts, Credit Constraints, and Firm Exports. Working Paper. EconPapers.

2020

Bose, Udichibarna, Mallick, Sushanta and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2020) Does easing access to foreign financing matter for firm performance? Journal of Corporate Finance, 64, 101639. (doi: 10.1016/j.jcorpfin.2020.101639)

Serena, Jose-Maria and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2020) International bank lending and corporate debt structure. Working Paper. Bank for International Settlements.

2019

Bose, Udichibarna, MacDonald, Ronald ORCID logoORCID: https://orcid.org/0000-0001-5900-5306 and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2019) Policy initiatives and firms' access to external finance: evidence from a panel of emerging Asian economies. Journal of Corporate Finance, 59, pp. 162-184. (doi: 10.1016/j.jcorpfin.2016.09.008)

Farinha, Luisa, Spaliara, Marina-Eliza ORCID logoORCID: https://orcid.org/0000-0002-6500-8666 and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2019) Bank shocks and firm performance: new evidence from the sovereign debt crisis. Journal of Financial Intermediation, 40, 100818. (doi: 10.1016/j.jfi.2019.01.005)

Sermpinis, Georgios ORCID logoORCID: https://orcid.org/0000-0002-7341-8913, Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X and Zhang, Ping (2019) What influences a bank’s decision to go public? International Journal of Finance and Economics, 24(4), pp. 1464-1485. (doi: 10.1002/ijfe.1740)

Da Silva Fernandes, Filipa, Kontonikas, Alexandros and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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)

2018

Sermpinis, Georgios ORCID logoORCID: https://orcid.org/0000-0002-7341-8913, Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X and Zhang, Ping (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, Tom, Mizen, Paul and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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, John ORCID logoORCID: https://orcid.org/0000-0002-3356-9688, Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X and Guariglia, Alessandra (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, Marina Eliza ORCID logoORCID: https://orcid.org/0000-0002-6500-8666 and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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, Alessandra, Spaliara, Marina Eliza ORCID logoORCID: https://orcid.org/0000-0002-6500-8666 and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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, Joseph P., Spaliara, Marina Eliza ORCID logoORCID: https://orcid.org/0000-0002-6500-8666 and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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, Udichibarna, MacDonald, Ronald ORCID logoORCID: https://orcid.org/0000-0001-5900-5306 and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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, Paul and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2015) Exploring Determinants of Firms’ Participation in the New Offshore Renminbi Debt Securities Market. Working Paper. Hong Kong Institute for Monetary Research.

Mizen, Paul, Packer, Frank, Remolona, Eli and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2015) Capital structure and the issuance of corporate bonds emerging Asia. In: Azis, Iwan and Shin, Hyun Song (eds.) Global Shock, Risks, and Asian Financial Reform. Edward Elgar: Cheltenham. ISBN 9781783477937

2014

Tsoukas, S. ORCID logoORCID: https://orcid.org/0000-0002-6911-639X and Spaliara, M.E. ORCID logoORCID: https://orcid.org/0000-0002-6500-8666 (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. ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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. ORCID logoORCID: https://orcid.org/0000-0002-6500-8666 and Tsoukas, S. ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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. ORCID logoORCID: https://orcid.org/0000-0002-3356-9688 and Tsoukas, S. ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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. ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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. ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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. ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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. ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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. ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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. ORCID logoORCID: https://orcid.org/0000-0002-6500-8666 and Tsoukas, S. ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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. ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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 Wed Jul 9 04:51:10 2025 BST.
Jump to: Articles | Book Sections | Research Reports or Papers
Number of items: 40.

Articles

Movaghari, Hadi ORCID logoORCID: https://orcid.org/0000-0001-6648-187X, Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X and Vagenas-Nanos, Evangelos ORCID logoORCID: https://orcid.org/0000-0002-2159-2186 (2025) Corporate cash policy and double machine learning. International Journal of Finance and Economics, 30(3), pp. 3261-3279. (doi: 10.1002/ijfe.3039)

Fernandes, Filipa da Silva, Guariglia, Alessandra, Kontonikas, Alexandros and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2025) Why do firms extend trade credit? The role of inventories. International Journal of Finance and Economics, 30(2), pp. 1785-1802. (doi: 10.1002/ijfe.2975)

Morgan-Thomas, Anna ORCID logoORCID: https://orcid.org/0000-0002-2228-6463, Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X, Dudau, Adina ORCID logoORCID: https://orcid.org/0000-0001-5599-1487 and Gaska, Pawel (2024) Beyond declarations: metrics, journal rankings and responsible assessment. Research Policy, 53(10), 105093. (doi: 10.1016/j.respol.2024.105093)

Lavery, Paul ORCID logoORCID: https://orcid.org/0000-0002-4280-4926, Serena, Jose-Maria, Spaliara, Marina-Eliza ORCID logoORCID: https://orcid.org/0000-0002-6500-8666 and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2024) Private equity buyouts and exports: the impact of Brexit on UK firms. British Journal of Management, 35(1), pp. 364-377. (doi: 10.1111/1467-8551.12716)

Sermpinis, Georgios ORCID logoORCID: https://orcid.org/0000-0002-7341-8913, Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X and Zhang, Yiqun (2023) Modelling failure rates with machine-learning models: Evidence from a panel of UK firms. European Financial Management, 29(3), pp. 734-763. (doi: 10.1111/eufm.12369)

Lavery, Paul ORCID logoORCID: https://orcid.org/0000-0002-4280-4926, Spaliara, Marina-Eliza ORCID logoORCID: https://orcid.org/0000-0002-6500-8666 and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2023) Private equity and bank capital requirements: evidence from European firms. British Journal of Management, 34(1), pp. 390-409. (doi: 10.1111/1467-8551.12593)

Serena, Jose-Maria, Spaliara, Marina-Eliza ORCID logoORCID: https://orcid.org/0000-0002-6500-8666 and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2022) International bank credit, nonbank lenders, and access to external financing. Economic Inquiry, 60(3), pp. 1214-1232. (doi: 10.1111/ecin.13078)

Karavitis, Panagiotis ORCID logoORCID: https://orcid.org/0000-0002-6062-1197, Kokas, Sotirios and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2021) Gender board diversity and the cost of bank loans. Journal of Corporate Finance, 71, 101804. (doi: 10.1016/j.jcorpfin.2020.101804)

Mizen, Paul, Packer, Frank, Remolona, Eli and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2021) Original sin in corporate finance: new evidence from Asian bond issuers in onshore and offshore markets. Journal of International Money and Finance, 119, 102489. (doi: 10.1016/j.jimonfin.2021.102489)

Bose, Udichibarna, Mallick, Sushanta and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2020) Does easing access to foreign financing matter for firm performance? Journal of Corporate Finance, 64, 101639. (doi: 10.1016/j.jcorpfin.2020.101639)

Bose, Udichibarna, MacDonald, Ronald ORCID logoORCID: https://orcid.org/0000-0001-5900-5306 and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2019) Policy initiatives and firms' access to external finance: evidence from a panel of emerging Asian economies. Journal of Corporate Finance, 59, pp. 162-184. (doi: 10.1016/j.jcorpfin.2016.09.008)

Farinha, Luisa, Spaliara, Marina-Eliza ORCID logoORCID: https://orcid.org/0000-0002-6500-8666 and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2019) Bank shocks and firm performance: new evidence from the sovereign debt crisis. Journal of Financial Intermediation, 40, 100818. (doi: 10.1016/j.jfi.2019.01.005)

Sermpinis, Georgios ORCID logoORCID: https://orcid.org/0000-0002-7341-8913, Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X and Zhang, Ping (2019) What influences a bank’s decision to go public? International Journal of Finance and Economics, 24(4), pp. 1464-1485. (doi: 10.1002/ijfe.1740)

Da Silva Fernandes, Filipa, Kontonikas, Alexandros and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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)

Sermpinis, Georgios ORCID logoORCID: https://orcid.org/0000-0002-7341-8913, Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X and Zhang, Ping (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, John ORCID logoORCID: https://orcid.org/0000-0002-3356-9688, Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X and Guariglia, Alessandra (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, Marina Eliza ORCID logoORCID: https://orcid.org/0000-0002-6500-8666 and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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, Alessandra, Spaliara, Marina Eliza ORCID logoORCID: https://orcid.org/0000-0002-6500-8666 and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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, Joseph P., Spaliara, Marina Eliza ORCID logoORCID: https://orcid.org/0000-0002-6500-8666 and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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, Udichibarna, MacDonald, Ronald ORCID logoORCID: https://orcid.org/0000-0001-5900-5306 and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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. ORCID logoORCID: https://orcid.org/0000-0002-6911-639X and Spaliara, M.E. ORCID logoORCID: https://orcid.org/0000-0002-6500-8666 (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. ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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. ORCID logoORCID: https://orcid.org/0000-0002-6500-8666 and Tsoukas, S. ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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. ORCID logoORCID: https://orcid.org/0000-0002-3356-9688 and Tsoukas, S. ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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. ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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. ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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. ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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

Lavery, Paul ORCID logoORCID: https://orcid.org/0000-0002-4280-4926, Spaliara, Marina-Eliza ORCID logoORCID: https://orcid.org/0000-0002-6500-8666 and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2023) Bank capital requirements and the impact on private equity. In: Hammer, Benjamin and Cumming, Douglas (eds.) The Palgrave Encyclopedia of Private Equity. Palgrave Macmillan: Cham. ISBN 9783030387389 (doi: 10.1007/978-3-030-38738-9_64-1)

Mizen, Paul, Packer, Frank, Remolona, Eli and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2015) Capital structure and the issuance of corporate bonds emerging Asia. In: Azis, Iwan and Shin, Hyun Song (eds.) Global Shock, Risks, and Asian Financial Reform. Edward Elgar: Cheltenham. ISBN 9781783477937

Research Reports or Papers

Baskaya, Soner ORCID logoORCID: https://orcid.org/0000-0003-4416-4907, Gutierrez, Jose, Serena, Jose-Maria and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2024) Bank supervision and non-performing loan cleansing. Working Paper. Bank of Spain. (doi: 10.53479/37596).

Lavery, Paul ORCID logoORCID: https://orcid.org/0000-0002-4280-4926, Serena, Jose-Maria, Spaliara, Marina-Eliza ORCID logoORCID: https://orcid.org/0000-0002-6500-8666 and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2021) Private equity buyouts and firm exports: evidence from UK firms. Project Report. SUERF.

Lavery, Paul ORCID logoORCID: https://orcid.org/0000-0002-4280-4926, Serena, Jose-Maria, Spaliara, Marina-Eliza ORCID logoORCID: https://orcid.org/0000-0002-6500-8666 and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2021) Private equity buyouts and firm exports: evidence from UK firms. Working Paper. Bank for International Settlements.

Lavery, Paul, Serena, Jose-Maria, Spaliara, Marina Eliza ORCID logoORCID: https://orcid.org/0000-0002-6500-8666 and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2021) Private Equity Buyouts, Credit Constraints, and Firm Exports. Working Paper. EconPapers.

Serena, Jose-Maria and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (2020) International bank lending and corporate debt structure. Working Paper. Bank for International Settlements.

Fong, Tom, Mizen, Paul and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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, Paul and Tsoukas, Serafeim ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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. ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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. ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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. ORCID logoORCID: https://orcid.org/0000-0002-6500-8666 and Tsoukas, S. ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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. ORCID logoORCID: https://orcid.org/0000-0002-6911-639X (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 Wed Jul 9 04:51:10 2025 BST.

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

Current supervision

  • Mouna, Niswatil
    Three Essays on Digital Economy and Tax Avoidance
  • Soni, Rajni
    “The Impact of Imputation tax system on the tax avoidance level of firms”.
  • Wei, Xiaoqin
    Three Essays on CEO Behavior and Corporate Performance: Evidence from IPO Survival, Organizational Capital, and Executive Pay
  • Yudha, Graha
    Essays on the Corporate Banking and Finance

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

Serafeim Tsoukas