Staff profile

Lenos Trigeorgis is Professor of Strategy and Finance at Durham University Business School and a Guest Lecturer in Finance at London Business School. He holds a doctorate from Harvard University. He previously taught at Boston University, University of Cyprus, Columbia, University of Chicago, MIT, Berkeley, London Business School and King’s College London. He is widely known for pioneering the field of real options through his leading journal publications and books, including Real Options (MIT Press, 1996), Strategic Investment (Princeton University Press, 2004) and Competitive Strategy (MIT Press, 2012). Top journal publications in the last 5 years include Academy of Management Review, Strategic Management Journal, Journal of International Business Studies, Management Science, Global Strategy Journal, Journal of Financial and Quantitative Analysis, Journal of Corporate Finance, Journal of Banking and Finance, European Journal of Operations Research, Production and Operations Management, Journal of Retailing, and others. His work has garnered over 17,500 Google scholar citations (h-index 49, i-10 index 93). Recently he spent two years at MIT’s Sloan School on a Marie Curie fellowship from the European Commission to do research on innovation. He is President of the Real Options Group and organizer of the Annual International Conference on Real Options (in its 26th year). He has consulted with leading organizations, such as British Petroleum, the Fiat Group, Swisscom, Ernst & Young, Accenture, Morgan Stanley, J.P Morgan, and the US government.

Journal Article

• Bali, Turan G., Viva, Luca Del Hefnawy, Menatalla El & Trigeorgis, Lenos (2022). Value Uncertainty. Management Science
• Trigeorgis, Lenos, Baldi, Francesco & Makadok, Richard (2022). Compete, Cooperate, or Both? Integrating the Demand Side into Patent Deployment Strategies for the Commercialization and Licensing of Technology. Academy of Management Review 47(1): 31.
• Ioulianou, Sophocles P., Leiblein, Michael J. & Trigeorgis, Lenos (2021). Multinationality, portfolio diversification, and asymmetric MNE performance: The moderating role of real options awareness. Journal of International Business Studies 52(3): 388.
• Trigeorgis, Lenos, Baldi, Francesco & Katsikeas, Constantine S. (2021). Valuation of brand equity and retailer growth strategies using real options. Journal of Retailing 97(4): 523.
• Del Viva, Luca, Kasanen, Eero, Saunders, Anthony & Trigeorgis, Lenos (2021). US government TARP bailout and bank lottery behavior. Journal of Corporate Finance 66: 101777.
• Choi, Jongmoo Jay, Ju, Ming, Trigeorgis, Lenos & Zhang, Xiaotian Tina (2021). Outsourcing flexibility under financial constraints. Journal of Corporate Finance 67: 101890.
• Del Viva, Luca, Kothari, S. P., Lambertides, Neophytos & Trigeorgis, Lenos (2021). Asymmetric Returns and the Economic Content of Accruals and Investment. Management Science 67(6): 3921.
• Chevalier-Roignant, Benoît, Flath, Christoph M., Kort, Peter M. & Trigeorgis, Lenos (2021). Capacity investment choices under cost heterogeneity and output flexibility in oligopoly. European Journal of Operational Research 290(3): 1154.
• Del Viva, Luca, Kasanen, Eero, Saunders, Anthony & Trigeorgis, Lenos (2021). Is bailout insurance and tail risk priced in bank equities? Journal of Financial Stability 55: 100909.
• Driouchi, Tarik, Trigeorgis, Lenos & So, Raymond H.Y. (2020). Individual antecedents of real options appraisal: The role of national culture and ambiguity. European Journal of Operational Research 286(3): 1018.
• Driouchi, Tarik, So, Raymond H.Y. & Trigeorgis, Lenos (2020). Investor ambiguity, systemic banking risk and economic activity: The case of too-big-to-fail. Journal of Corporate Finance 62: 101549.
• Bali, Turan G., Del Viva, Luca, Lambertides, Neophytos & Trigeorgis, Lenos (2020). Growth Options and Related Stock Market Anomalies: Profitability, Distress, Lotteryness, and Volatility. Journal of Financial and Quantitative Analysis 55(7): 2150.
• Chevalier-Roignant, Benoît, Flath, Christoph M. & Trigeorgis, Lenos (2019). Disruptive Innovation, Market Entry and Production Flexibility in Heterogeneous Oligopoly. Production and Operations Management 28(7): 1641.
• Trigeorgis, Lenos & Tsekrekos, Andrianos E. (2018). Real Options in Operations Research: A Review. European Journal of Operational Research 270(1): 1.
• Driouchi, Tarik, Trigeorgis, Lenos & So, Raymond H. Y. (2018). Option implied ambiguity and its information content: Evidence from the subprime crisis. Annals of Operations Research 262(2): 463.
• Del Viva, Luca, Kasanen, Eero & Trigeorgis, Lenos (2017). Real Options, Idiosyncratic Skewness, and Diversification. Journal of Financial and Quantitative Analysis 52(1): 215.
• Ioulianou, Sophocles, Trigeorgis, Lenos & Driouchi, Tarik (2017). Multinationality and firm value: The role of real options awareness. Journal of Corporate Finance 46: 77.
• Koussis, Nicos, Martzoukos, Spiros H. & Trigeorgis, Lenos (2017). Corporate liquidity and dividend policy under uncertainty. Journal of Banking & Finance 81: 221.
• Smit, Han T. J. & Trigeorgis, Lenos (2017). Strategic NPV: Real Options and Strategic Games under Different Information Structures. Strategic Management Journal 38(13): 2555.
• Choi, Jongmoo J., Ju, Ming, Kotabe, Masaaki, Trigeorgis, Lenos & Zhang, Xiaotian T. (2017). Flexibility as firm value driver: Evidence from offshore outsourcing. Global Strategy Journal 8(2): 351.
• Trigeorgis, Lenos & Reuer, Jeffrey J. (2016). Real options theory in strategic management. Strategic Management Journal 38(1): 42.