Apostolos Kourtis


  • 2.09 Thomas Paine Study Centre

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Personal profile


I am an Associate Professor in Finance and the Head of the Finance Group (FIN) at NBS. I hold a Visiting Research Fellow position at the Department of Management Science and Technology, Athens University of Economics and Business, Greece. I am also an Adjunct Instructor for the MSc in Blockchain and Digital Currency at the University of Nicosia. I read for my doctorate at the Athens University of Economics and Business, under a scholarship from the Greek State Scholarship Foundation (IKY).  Prior to my doctoral studies, I obtained an MSc in Applied and Computational Mathematics from the University of Oxford and a BSc in Mathematics from the University of Athens.

My current research interests lie in the areas of investments, risk management, forecasting, blockchain and energy finance. I have recently published academic articles in high-profile peer-reviewed journals, including the Journal of Banking and Finance, the Journal of Empirical Finance and the Financial Review. My research has been featured in several popular media outlets, including the Financial Times, Bloomberg and the Telegraph. I am also a regular member of the American Finance Association and the European Finance Association.

You may follow me on Twitter @bravenewfinance.

Office hours: Fridays 13:00-15:00.

Teaching Interests

I enjoy delivering lectures in all areas of Finance including Corporate Finance, Investments, Blockhain and Cryptocurrencies, Financial Modelling and Financial Econometricss. At NBS, I have been involved in teaching the following modules:

  • NBS-2F2Y (5008Y): Business Finance (2nd level undergraduate)
  • NBS-3F3Y (6007Y): Financial Modelling (3rd level undergraduate)
  • NBS-6016Y: Investment Management (3rd level undergraduate)
  • NBS-MC60: Corporate Financial Management (MSc)
  • NBS-MC6X: Critical Issues in Accounting and Business Finance Research (MSc)
  • NBS-MD01: Advances in Financial Management (MSc)
  • NBS-M06: Finance and Management Accounting (MBA)
  • NBS-M021: Corporate Finance (MBA)
  • NBSD7002A: Corporate Finance (Exec MBA)

Key Research Interests

My current research interests include portfolio selection, risk management, blockchain finance, energy finance, forecasting, mathematical modelling and scientific computing. My recent work focuses on portfolio choice under estimation risk and on return moment forecasting and has been published in high-profile international peer-reviewed journals, such as the Journal of Banking and Finance and the Journal of Empirical Finance.

In February 2012, I held a visiting researcher post at Olin Business School, Washington University in St. Louis, USA. I have also presented my work in several universities and international academic conferences, including the 2011 European Winter Finance Summit.

I am currently supervising nine full-time research students at NBS. If you are interested in doing a PhD under my supervision, please check my research interests above and contact me by email.

I have served as a referee for several international academic journals, including the Journal of Banking and Finance, the Economic Journal, the Journal of Empirical Finance and the European Journal of Operational Research.

Professional Activities

I have received the following research grants/awards:

  • University of Cantabria, Spain, "Augusto Gonzalez Linares" award to Attract International Talent in Strategic Areas {AGL}, 2014 (Link in Spanish)
  • University of East Anglia, UK, Social Sciences Faculty - Associate Dean of Enterprise Competition for funding new enterprise projects, 2012
  • State Scholarships Foundation (IKY), Greece, Graduate Scholarship (1st Place in National Exams), 2006-2010
  • State Scholarships Foundation (IKY), Greece, Undergraduate Scholarship for Exceptional Performance, 2001, 2002
  • Athens University of Economics and Business, Greece, Basic Research Funding Competition, 2010
  • Engineering and Physical Sciences Research Council (EPSRC), UK, Graduate Scholarship, 2003-2004

I have been involved as a consultant/advisor in the following projects:

  • Blockchain Technology for Energy Distribution Networks, Hellenic Electricity Distribution Network Operator, Athens, Greece, 2021.
  • Managing Risk in the Red Meat Sector, Agricultural and Horticultural Development Board (AHDB), UEA Consulting Ltd., 2019.
  • Financing for SMEs, Advisory services, Ministry of Development and Economic Chamber of Greece, 2008
  • Commodity hedging via futures, Research Advisory and Software Engineering for a U.S.-based investment firm, 2007
  • Strategic and Business Planning, Advisory services, Athens Olympic Stadium, 2007

I am a regular member/fellow of the following associations:

  • Higher Education Academy Fellow, 2013-present
  • American Finance Association Member, 2009-present
  • European Finance Association Member, 2008-present

My research has been featured in several media outlets, such as the Financial Times, the Telegraph and Bloomberg:



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