Senior Lecturer in Finance and Banking
Associate Dean of Research
University of Dundee, School of Business
Contact information
E-mail: s.kourtzidis@dundee.ac.uk
Institutional website [here],
LinkedIn [profile], ORCID [here],
Google Scholar Citations [here],
RePEc [profile]
Biography
I joined the University of Dundee in November 2017 and I am a Senior Lecturer in Finance & Banking and Associate Dean of Research for the School of Business. I hold a BSc in Economics, an MSc in Applied Economics and a PhD in Economics from the University of Thessaly, Greece. During my PhD studies I have worked in various teaching and research roles at the University of Thessaly, including teaching assistant in Statistics and researcher at a ERDF project about GHGs emission scenarios and mitigation opportunities in Energy, Transport and Industrial sectors in Greece. I have also worked as an Adjunct Lecturer at the University of Macedonia, Greece.
My research interests lie in the field of Efficiency & Productivity Analysis with a particular focus on financial institutions. Specifically, in the modelling of non-parametric production functions in two (or more) stages and in the network data envelopment analysis (DEA) models. I have published, among others, in the European Journal of Operational Research, Journal of Banking & Finance, Journal of the Operational Research Society and Annals of Operations Research. My current work centres around four key topical areas in the area of banking and finance literature:
- the modelling of bank performance
- portfolio efficiency
- advances in network DEA models
- interdisciplinary benchmarking applications, including court performance, school performance, and environmental sustainability.
Education
2015 PhD in Economics, Department of Economics, University of Thessaly, Volos, Greece
2010 MSc in Applied Economics, Department of Economics, University of Thessaly, Volos, Greece
2008 BSc in Economics, Department of Economics, University of Thessaly, Volos, Greece
PhD Thesis
“Construction and economics applications of two-stage DEA models” (completed, June 2015) under the supervision of Prof. Nickolaos Tzeremes
Current Teaching
Quantitative Methods
Bank Modelling and Performance Analysis
Past Teaching
Research Methods
Econometrics for Finance
Previous Teaching Experience
2017 Adjunct Lecturer in Microeconomics, Department of Economics, University of Macedonia, Thessaloniki, Greece
2010-2015 Teaching assistant in Statistics, Department of Economics, University of Thessaly, Volos, Greece
Research Interest
Efficiency & Productivity Analysis
Network Data Envelopment Analysis (DEA)
Banking & Finance
Operational Research
Research Activity
2019 Royal Economic Society Conference Grant for presenting at the 7th Workshop on Efficiency and Productivity Analysis, Porto, Portugal, 13 September 2019.
2013-2014 Researcher at “GHGs emission scenarios and mitigation opportunities in Energy, Transport and Industrial sector in Greece till 2030.”, “GHGsMETI” program, SYNERGASIA 2011 action, supported by the European Regional Development Fund and Greek National Funds, project number 11SYN-8-118.
Memberships
Royal Economic Society (RES)
British Academy of Management (BAM)
International Society for Efficiency and Productivity Analysis (ISEaPA)
Associate Editor for Academic Journals
Refereed Publications
Karagiannis G and Kourtzidis S. 2025. “Bad outputs as inputs”, reverse outputs and extended strong disposability. Annals of Operations Research, 351, 1925–1939. [link]
Cordina R, Kourtzidis S, Power DM and Tzeremes NG. 2025. An analysis of country-by-country data for EU banks: an investigation of bank performance and risk. Review of Quantitative Finance and Accounting, 65, 1405-1431. [link]
Karagiannis G and Kourtzidis S. 2025. On modelling non-performing loans in bank efficiency analysis. International Journal of Finance & Economics, 30, 1742-1757. [link]
Ravanos P, Kourtzidis S and Karagiannis G. 2025. Inverted VEA for worst-practice benchmarking: with an application to distress prediction of European banks. Annals of Operations Research, 347. 471-499. [link]
Chen Z, Kourtzidis S, Tzeremes P and Tzeremes NG. 2022. A robust network DEA model for sustainability assessment: An application to Chinese Provinces. Operational Research: An International Journal, 22, 235-262. [link]
Kourtzidis S, Matousek R and Tzeremes NG. 2021. Modelling a multi-period production process: Evidence from the Japanese regional banks. European Journal of Operational Research, 294, 327-339. [link]
Kourtzidis S and Tzeremes NG. 2020. Investigating the determinants of firm performance: A qualitative comparative analysis of insurance companies. European Journal of Management and Business Economics, 29, 3-22. [link]
Kourtzidis S, Matousek R, and Tzeremes NG. 2019. Productivity growth in network models: An application to banking during the Financial Crisis. Journal of the Operational Research Society, 70, 111-124. [link]
Kourtzidis S, Tzeremes P and Tzeremes NG. 2019. Conditional time-dependent nonparametric estimators with an application to healthcare production function. Journal of Applied Statistics, 46, 2481-2490. [link]
Kourtzidis S, Tzeremes P, and Tzeremes NG. 2018. Re-evaluating the energy consumption-economic growth nexus for the United States: An asymmetric threshold cointegration analysis. Energy, 148, 537-545. [link]
Kourtzidis S, Tzeremes P, Tzeremes NG, Heryan T. 2018. Integration of tourism markets in Australia: An international visitor arrivals’ convergence assessment. Tourism Economics, 24, 901-907. [link]
Degl’Innocenti M, Kourtzidis S, Sevic Z and Tzeremes NG. 2017. Bank productivity growth and convergence in the European Union during the financial crisis. Journal of Banking & Finance, 75, 184-199. [link]
Degl’Innocenti M, Kourtzidis S, Sevic Z and Tzeremes NG. 2017. Investigating bank efficiency in transition economies: A window-based weight assurance region approach. Economic Modelling, 67, 23-33. [link]
Halkos GE, Tzeremes NG and Kourtzidis S. 2016. Measuring sustainability efficiency using a two-stage DEA approach. Journal of Industrial Ecology, 20, 1159-1175. [link].
Halkos GE, Tzeremes NG and Kourtzidis S. 2015. Weight assurance region in two-stage additive efficiency decomposition DEA model: an application to school data. Journal of the Operational Research Society, 66, 696-704. [link]
Halkos GE, Tzeremes NG and Kourtzidis S. 2015. Regional sustainability efficiency index in Europe: an additive two-stage DEA approach. Operational Research: An International Journal, 15, 1-23. [link]
Halkos GE, Tzeremes NG and Kourtzidis S. 2014. A unified classification of two-stage DEA models. Surveys in Operations Research and Management Science, 19, 1-16. [link]
Halkos GE, Tzeremes NG and Kourtzidis S. 2012. Measuring public owned university department’s efficiency: A bootstrapped DEA approach. Journal of Economics and Econometrics, 55, 1-24. [link]
Recent Participation in International Conferences
Karagiannis G, Kourtzidis S, and Tzeremes NG. 2024. Including a Public Input in the Additive Two-Stage Network DEA Model: The Case of Quantitative Easing in Japan. 33rd European Conference on Operational Research (EURO 2024), Copenhagen, Denmark, 30 June – 3 July. [link]
Karagiannis G, Kourtzidis S and Tzeremes NG. 2024. Decomposition Weights and Stage Efficiencies in the Additive Network DEA Model with Shared Resources. 18th European Workshop on Efficiency and Productivity Analysis (EWEPA XVIII), Faro, Portugal, 18-21 June. [link]
Karagiannis G, Kourtzidis S. 2024. The Parallel Multi-component Network DEA Model with Variable Returns to Scale. 18th European Workshop on Efficiency and Productivity Analysis (EWEPA XVIII), Faro, Portugal, 18-21 June. [link]
Karagiannis G, Kourtzidis S and Tzeremes NG. 2023. A Generalised Additive Two-Stage Network DEA Model: The Case of an External Single Constant Input. DEA45: International Conference on Data Envelopment Analysis, University of Surrey, Guilford, UK, September 4-6. [link]
Karagiannis G and Kourtzidis S. 2023. A New Class of BoD Models Accommodating Forward and Reverse Component Indicators. DEA45: International Conference on Data Envelopment Analysis, University of Surrey, Guilford, UK, September 4-6. [link]
Karagiannis G, Kourtzidis S, Tzeremes NG and Fifield S. 2023. Investigation of Decomposition Weights in the Additive Two-Stage Network Data Envelopment Analysis Model: An Application to UK Investment Trusts. 11th North American Productivity Workshop (NAPW XI), University of Miami Business School, Miami, USA, June 12-15. [link]
Kourtzidis S and Tzeremes NG. 2022. Measuring Banking Performance in a Network DEA context: A General Weight Assurance Region Model. 17th European Workshop on Efficiency and Productivity Analysis (EWEPA XVII), Porto, Portugal, June 27-29. [link]
Karagiannis G, Kourtzidis S and Ravanos P. 2021. Inverted VEA for Worst-Practice Benchmarking: With an Application to Distress Prediction of European Banks. North American Productivity Workshop (NAPW 2021 Virtual), University of Miami Business School, Miami, USA, June 7-11. [link]
Kourtzidis S, Tzeremes NG and Fifield S. 2020. A General Weight Assurance Region Model for Fund Performance Evaluation: An Application to UK Investment Trusts. North American Productivity Workshop (NAPW 2020 Virtual), University of Miami Business School, Miami, USA, June 8-12. [link]
Karagiannis G, Kourtzidis S and Ravanos P. 2020. Worst-Practice Benchmarking with Inverted VEA. 11th North American Productivity Workshop (NAPW XI Virtual), University of Miami Business School, Miami, USA, June 8-12. [link]
Karagiannis G and Kourtzidis S. 2019. A parallel network BoD model. 7th Workshop on Efficiency and Productivity Analysis, Porto, Portugal, September 13. [link]
Kourtzidis S and Tzeremes NG. 2019. Using trade-offs for measuring bank performance: A network DEA approach. 16th European Workshop on Efficiency and Productivity Analysis (EWEPA XVI), London, UK, June 10-13. [link]
Kourtzidis S, Matousek R and Tzeremes NG. 2018. Modelling multi-period bank production process during periods of uncertainty. British Accounting and Finance Association (BAFA) Scottish Area Group Annual Conference 2018, University of Dundee School of Business, Dundee, UK, August 22. [link]
Kourtzidis S, Matousek R and Tzeremes NG. 2018. Good and bad outputs in bank performance: A relational network DEA approach. 10th North American Productivity Workshop (NAPW X), University of Miami Business School, Miami, USA, June 12-15. [link]
Karagiannis G and Kourtzidis S. 2018. Modelling of non-performing loans in banking efficiency. Workshop Modeling of Bad Outputs in Production Analysis, Swedish University of Agricultural Sciences (SLU), Uppsala, Sweden, June 4-5. [link]
Kourtzidis S and Tzeremes NG. 2016. Productivity growth in network models: An application to banking during the financial crisis. 3rd Conference of The Society for Economic Measurement: Efficiency & Productivity Analysis at the Aggregate Level-Session C, Bank of Greece, University of Kansas, Center for Financial Stability, Carnegie Mellon University, University of Macedonia & Aristotle University, Thessaloniki, Greece, July 6-8. [link]
Reviewer for Academic Journals
European Journal of Operational Research, Omega, International Review of Financial Analysis, Annals of Operations Research, International Journal of Finance and Economics, Journal of Business Research, Computers & Industrial Engineering, Business Strategy and the Environment, Journal of Productivity Analysis, Economic Modelling, Finance Research Letters, Socio-Economic Planning Sciences, Empirical Economics, Review of Managerial Science, North American Journal of Economics and Finance, Review of Development Economics, Research in International Business and Finance, Managerial and Decision Economics, Journal of Transport Geography, Journal of Organizational Effectiveness: People and Performance, Operational Research: An International Journal, Economic Analysis and Policy, Applied Economics Letters, International Transactions in Operational Research, Physica A: Statistical Mechanics and its ApplicationsLetters in Spatial and Resource Sciences, Financial Innovation, Operations Research and Decisions, International Journal of Productivity and Performance Management, Studies in Economics and Finance, Computational and Applied Mathematics, European Journal of Management and Business Economics, Financial Innovation, Studies in Microeconomics, International Journal of Computer Mathematics: Computer Systems Theory, Economic Change and Restructuring, Sustainability Analytics and Modelling, BMC Health Services Research, Sage Open Journal, Carbon Management
Reviewer for Academic Books
Cambridge University Press
Article Editor
Sage Open Journal
Awards for Reviewing
2022 – Recipient of the “Certificate of Reviewing” from Financial Research Letters [Certificate]
2021 – Recipient of the “Certificate of Reviewing” from International Review of Financial Analysis [Certificate]
2021 – Recipient of the “Certificate of Reviewing” from Journal of Business Research [Certificate]
2021 – Recipient of the “Certificate of Reviewing” from Computers & Industrial Engineering [Certificate]
2021 – Recipient of the “Certificate of Reviewing” from Physica A: Statistical Mechanics and its Applications [Certificate]
2020 – Recipient of the “Certificate of Reviewing” from European Journal of Operational Research [Certificate]
2020 – Recipient of the “Certificate of Reviewing” from Review of Development Economics [Certificate]
2020 – Recipient of the “Certificate of Reviewing” from Socio-Economic Planning Sciences [Certificate]
2020 – Recipient of the “Certificate of Reviewing” from North American Journal of Economics and Finance [Certificate]
2020 – Recipient of the “Certificate of Reviewing” from International Journal of Finance & Economics. [Certificate]
2018 – Recipient of the “Certificate of Reviewing” from Research in International Business and Finance. [Certificate]
2017 – Recipient of the “Certificate of Outstanding Contribution in Reviewing” from Economic Modelling. [Certificate]
2017 – Recipient of the “Certificate of Reviewing” from Economic Modelling [Certificate]
Lecturer in Finance and Banking 
You must be logged in to post a comment.