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Demetris Christodoulou

Demetris Christodoulou

BEcon Piraeus; MSc(Fin) York(UK); PhD Athens
Senior Lecturer

Rm 337
H69 - Economics and Business Building
The University of Sydney
NSW 2006 Australia

Telephone +61 2 9036 7815
Fax +61 2 9351 6638
demetris.christodoulou@sydney.edu.au


Bio

Demetris has a multi-disciplinary profile with training in economics, accounting, finance and statistical computation, with a specialised interest in quantitative data analysis and analytical modelling. Demetris's research addresses the methodological correctness of prominent financial research questions with the ultimate aim of increasing the precision and reliability of inferential decision-making. His work has been applied to equity valuation, modelling the probability distribution of earnings, estimating a long-run equilibrium for the earnings yield, the determination of audit fees and more.

Demetris is the Founding Director (2007) and current General Convenor of the cross-disciplinary research group MEAFA and the co-chair of the annual MEAFA conference that showcases keynotes from renowned international experts. Demetris also has a strong interest in designing advanced research training modules in quantitative analysis for industry, government and academia. These are widely recognised by the research community as state-of-the-art. Demetris has provided research training to hundreds of executives, researchers and higher research degree students, and he is the architect of the bi-annual Professional Development Workshops on Quant Analysis, and self-generates the majority of funds for the MEAFA PhD top-up scholarships.

Demetris received his PhD from Athens University of Economics and Business (Greece) whilst holding a teaching and research fellowship at the University of Wales Bangor (UK) and a four-year research fellowship at the European Commission research network HARMONIA (EU) for investigating the harmonisation of financial reporting across the EU member states. He also held visiting posts at Columbia University (US), the University of Valencia (Spain) and the University of Sussex (UK).

Publications

2014

4
Journal Article/s

Christodoulou D and McLeay S 2014 'The Double Entry Constraint, Structural Modeling and Econometric Estimation', Contemporary Accounting Research, vol.31:2, pp. 609-28 Link

2013

5
Conference Paper/s

Huynh T, Christodoulou D, van der Laan S and Dean G 2013 'Market Reaction to Financial Reporting Relief: Deeds of cross guarantee', 6th EIASM International Workshop on Accounting & Regulation, Siena, Italy, 6th July 2013

Christodoulou D and McLeay S 2013 'The double-entry constraint in econometric estimation', 4th World Finance Conference, Limassol, Cyprus, 3rd July 2013

McLeay S and Christodoulou D 2013 'The Double Entry Constraint, Structural Modeling and Econometric Estimation', 36th Annual Congress of the European Accounting Association EAA 2013, Paris, France, 8th May 2013

van der Laan S, Huynh T, Christodoulou D and Dean G 2013 'Market Reaction to Financial Reporting Relief: Deeds of cross guarantee', 6th Meeting on Methodological and Empirical Advances in Financial Analysis, University of Sydney, Australia, 1st February 2013

11
Seminar Paper/s

van der Laan S, Huynh T, Christodoulou D and Dean G 2013 'Market reaction to financial reporting relief: deeds of cross guarantee, University of British Columbia Seminar Series, Vancouver, Canada, 27 May 2013

2012

4
Journal Article/s

van der Laan S and Christodoulou D 2012 'Audit Fees and Deeds of Cross Guarantee: An Empirical Evaluation', Abacus, vol.48:3, pp. 293-315 Link

Huynh T, Christodoulou D and van der Laan S 2012 'Legally-Recognised Group Structures: An Exploratory Analysis', Australian Accounting Review, vol.22:2, pp. 155-76 Link

5
Conference Paper/s

Christodoulou D and McLeay S 2012 'The double-entry constraint in econometric estimation', Financial Integrity Research Network FIRN 2012 Annual Conference - "The Art of Finance", Hobart, Australia, 11th November 2012

Huynh T, Christodoulou D and van der Laan S 2012 'Regulatory Influences on Group Composition: An Australian Perspective', 35th European Accounting Association EAA Annual Congress 2012, Ljubljana, Slovenia, 11th May 2012

McLeay S and Christodoulou D 2012 'The Double-Entry Constraint in Econometric Estimation', 35th European Accounting Association EAA Annual Congress 2012, Ljubljana, Slovenia, 11th May 2012

McLeay S and Christodoulou D 2012 'The double-entry constraint in econometric estimation', 48th British Accounting and Finance Association BAFA Annual Conference, Brighton, United Kingdom, 19th April 2012

Huynh T and Christodoulou D 2012 'The effect of regulatory reporting relief on the pricing of audit fees', Fifth Meeting on Methodological and Empirical Advances in Financial Analysis 2012, The University of Sydney, Australia, 25th January 2012

Christodoulou D 2012 'Discussion of Accounting Anomalies, Risk and Return', Fifth Meeting on Methodological and Empirical Advances in Financial Analysis 2012, The University of Sydney, Australia, 25th January 2012

2011

5
Conference Paper/s

Christodoulou D 2011 'Discussion of “Towards a defensible model for audit fee determination"', Fourth Meeting on Methodological and Empirical Advances in Financial Analysis, University of Sydney, Australia, 28th January 2011

11
Seminar Paper/s

Christodoulou D and McLeay S 2011 'The double entry constraint in econometric estimation, London Business School, London, United Kingdom, 14 December 2011

2010

5
Conference Paper/s

Christodoulou D and Bradbury M 2010 'A Generalised Solution to the Problem of Heterogeneous Financial Year-ends', American Accounting Association AAA Annual Meeting 2010 - "Global Thought Leadership", San Francisco, United States, 4th August 2010

Christodoulou D, Grambovas C and McLeay S 2010 'A Generalised model of Accounting Earnings on Stock Market Returns', Third Meeting on Methodological and Empirical Advances in Financial Analysis, University of Sydney, Australia, 22nd January 2010

11
Seminar Paper/s

Christodoulou D 2010 'The state of financial research and the why StataCorp should pay more attention, StataCorp LP, Texas, United States November 2010

Christodoulou D and McLeay S 2010 'The double entry constraint and the unbiased estimation of the equilibrium level of accruals, Texas A&M University, Texas, United States November 2010

Christodoulou D 2010 'Incorporating accounting double entry structure in regression estimation, Columbia University, New York, United States October 2010

Christodoulou D and McLeay S 2010 'The double entry constraint and the unbiased estimation of the equilibrium level of accruals, Penn State University, Pennsylvania, United States September 2010

2009

4
Journal Article/s

Christodoulou D and McLeay S 2009 'Bounded Variation and the Asymmetric Distribution of Scaled Earnings', Accounting and Business Research, vol.39:4, pp. 347-72

5
Conference Paper/s

Christodoulou D, Dean G and van der Laan S 2009 'Contesting the Benefits of Executing a Deed of Cross Guarantee', Accounting and Finance Association of Australia and New Zealand AFAANZ 2009, Adelaide, Australia, 7th July 2009

Christodoulou D, McLeay S and Sarafidis V 2009 'The econometrics of estimating unexpected accruals', Accounting and Finance Association of Australia and New Zealand AFAANZ 2009, Adelaide, Australia, 7th July 2009

6
Conference Proceeding/s

Christodoulou D and McLeay S 2009 'Using Accounting information in econometric models', 2nd Meeting on Methodological and Empirical Advances in Financial Analysis MEAFA 2009, Sydney, Australia, 30th January 2009 Link

11
Seminar Paper/s

Christodoulou D and McLeay S 2009 'The Double Entry Constraint and the Unbiased Estimation of the Equilibrium Level of Accruals, Portsmouth University October 2009

Bradbury M and Christodoulou D 2009 'A Generalised Solution to the Problem of Heterogeneous Financial Year-ends, Discipline of Accounting Research Seminar Series, University of Sydney September 2009

2008

5
Conference Paper/s

Christodoulou D and Sarafidis V 2008 'The econometrics of estimating unexpected accruals', First Meeting on Methodological and Empirical Advances in Financial Analysis (MEAFA), Sydney, Australia, 15th February 2008

6
Conference Proceeding/s

Christodoulou D, Grambovas C and McLeay S 2008 'A Generalised Model of Accounting Earnings on Market Returns', 20th Asian-Pacific Conference on International Accounting Issues 2008, Paris, France, 12th November 2008

Christodoulou D and Sarafidis V 2008 'The Econometrics of Estimating Unexpected Accruals', The 2008 Australasian Meeting of the Econometric Society, Wellington, New Zealand, 11th July 2008

Bradbury M and Christodoulou D 2008 'The Choice of Financial Year End and Implications for Empirical Research', The Accounting and Finance Association of Australia and New Zealand Conference AFAANZ/IAAER 2008, Sydney, Australia, 8th July 2008 Link

Christodoulou D, Grambovas C and McLeay SJM 2008 'Timeless and Persistence of Market Observables in Accounting Earnings', 31st Annual Congress of the European Accounting Association EAA 2008, Rotterdam, Netherlands, 25th April 2008

11
Seminar Paper/s

Bradbury M and Christodoulou D 2008 'The Choice of Financial Year End and Implications for Empirical Research, School of Accountancy Research Seminars, Albany, New Zealand, 18 December 2008

Christodoulou D and McLeay S 2008 'Using the Double-Entry Constraint to Obtain Unbiased and Efficient Estimates of the Equilibrium Model of Accruals, Bangor Business School Research Seminars, Bangor, United Kingdom, 20 November 2008

2007

5
Conference Paper/s

Christodoulou D, Grambovas C and Stuart M 2007 'Differential Timeliness and Persistence in Accounting Earnings', 20th Australasian Finance & Banking Conference 2007, Sydney, NSW, Australia, 13th December 2007

6
Conference Proceeding/s

Christodoulou D, Grambovas C and McLeay S 2007 'Asymmetry in timely recognition and permanence of stock market returns in accounting earnings', Annual Congress of the European Accounting Association (EAA), Lisbon, Portugal, 3rd July 2007

Christodoulou D and McLeay S 2007 'The distribution of scaled earnings and the examination of transition probabilities between consecutive levels of profit', Accounting and Finance Association of Australia and New Zealand (AFAANZ) Conference, Gold Coast, QLD, Australia, 3rd July 2007

Christodoulou D and McLeay S 2007 'The distribution of scaled earnings and the examination of transition probabilities between consecutive levels of profit', Annual Congress of the European Accounting Association (EAA), Lisbon, Portugal, 27th April 2007

11
Seminar Paper/s

Christodoulou D 2007 'Invited Talk - Panel Data Methods for Financial Analysis, 3rd INTACCT Workshop, the CentER, Tilburg University, Netherlands, 24 October 2007

Christodoulou D 2007 'Invited Talk - Introduction to Stata and the Management of Financial Data, 3rd INTACCT Workshop, Tilburg University, Netherlands, 24 October 2007

Christodoulou D and McLeay S 2007 'The Contemporaneously Endogenous Character of Accounting Variables, Discipline of Econometrics and Business Statistics Research Seminar Series, The University of Sydney, Australia, 27 July 2007 Link

Christodoulou D and McLeay S 2007 'Modelling the Contemporaneously Endogenous Character of Accounting Variables, Discipline of Accounting Research Seminar Series, The University of Sydney, Australia, 16 February 2007 Link

Christodoulou D and McLeay S 2007 'Bounded variation and the distribution of scaled earnings, Department of Public and Business Administration, Cyprus, 10 January 2007

2006

4
Journal Article/s

Grambovas C, Giner B and Christodoulou D 2006 'Earnings conservatism: Panel data evidence from the EU and the US', Abacus, vol.42:3, pp. 354-378

6
Conference Proceeding/s

Christodoulou D and McLeay S 2006 'The contemporaneously endogenous character of accounting variables', Accounting and Finance Association of Australia and New Zealand (AFAANZ) Conference, Wellington, New Zealand, 4th July 2006

McLeay S and Christodoulou D 2006 'The contemporaneously endogenous character of accounting variables', 29th Annual Congress of the European Accounting Association (EAA), Dublin, Ireland, 24th March 2006

11
Seminar Paper/s

Christodoulou D and McLeay S 2006 'Bounded variation and the distributional shape of scaled earnings, Discipline of Accounting Research Seminar Series, University of Sydney, Australia, 9 August 2006

Christodoulou D and McLeay S 2006 'Bounded variation and the distributional shape of scaled earnings, Centre for Analysis of Investment Risk, Manchester Business School, Manchester, United Kingdom, 17 May 2006 Link

Christodoulou D and McLeay S 2006 'Bounded variation and the distributional shape of scaled earnings, London School of Economics Workshop on Economic Analysis of Accounting, London, United Kingdom, 9 February 2006

Research Expertise

  • Financial analysis
  • Equity valuation
  • Quantitative data analysis
  • Applied econometrics
  • Statistical computation

Recent Units Taught