Gavalas Dimitris

Assistant Professor



Shipping Finance, Accounting


Dr. Dimitris Gavalas is Assistant Professor of Shipping Finance & Accounting at the School of Business, University of the Aegean, Greece. He also holds adjunct and visiting posts at Audencia Nantes School of Management, France; International Hellenic University, Greece; and Hellenic Open University, Greece. Prof. Gavalas teaches a range of undergraduate as well as postgraduate courses in the field of Shipping Finance, including: (1) Undergraduate Level: Shipping Finance; General Accounting, Shipping Accounting, International Trade; (2) Postgraduate Level: Financial Shipping Derivatives; Commercial & Investment Banking; Banking Accounting. Before joining the academia and for over a decade, Prof. Gavalas held various posts in banking, investment, corporate & shipping finance, shipping credit management, economic analysis and corporate social responsibility. Prof. Gavalas publishes regularly in accredited international financial journals as well as in edited volumes and books in contemporary topics of applied finance. Research fields of interest include corporate financial management decisions; global capital markets and portfolio management; value creation in mergers & acquisitions; financial derivatives and risk management; shipping finance and banking; and, corporate governance & social responsibility. More than 200 official academic citations have been identified on Prof. Gavalas’ published output in accredited journal databases. He is a member of international academic and professional bodies and associations including European Finance Association; European Financial Management Association; Multinational Finance Society; International Association of Maritime Economists; Hellenic Association of Maritime Economists; Hellenic Finance and Accounting Association; Hellenic Economic Chamber.


  • Shipping Finance
  • Shipping Accounting
  • General Accounting
  • International Trade


  • Gavalas, D. and Syriopoulos, T., 2016, Selecting the Optimum Collateral in Shipping Finance, in: Kramberger, T., Strategic Sustainable Logistics and Transportation Planning Strategies, 295-327, IGI Global Publications.
  • Gavalas, D., 2020, Shipping Firms’ Efficiency Evaluation through Stochastic Frontier Analysis, in: Business and Economy Recent Updates. Hyderabad, India: Vide Leaf. 2020.


  • Financial Management: corporate finance, globalisation, mergers & acquisitions, corporate governance & social responsibility, financial intermediation. FinTech.
  • Accounting: tax accounting, financial accounting, auditing, managerial accounting.
  • Capital Markets: innovative asset management products, EU regulations, international economics.
  • Portfolio Management: accounting models, dynamic asset allocation, actively managed funds, hedge funds, digitalization.
  • Risk Management: volatility modeling, spillover dynamics, diversification tools. Sectorial focus: banking, investment & finance, shipping.

Selected Publications

  • Gavalas, D. and Syriopoulos T., 2012, The effects of Basel III on banking performance; examining lending issues. Journal of the Greek Statistical Association (Statistical Review) 8(1-2), 21-52.
  • Gavalas, D. and Syriopoulos T., 2013, Bank Loan Quality and Credit Risk Exposure: A Multi-Criteria Decision Approach to Collateral Selection in shipping. Economics World 1(1), 59-86.
  • Gavalas, D. and Syriopoulos, T., 2014, Bank Credit Risk Management and Rating Migration Analysis on the Business Cycle. International Journal of Financial Studies 2(1), 122-143.
  • Gavalas, D., and Syriopoulos, T., 2014, Bank Credit Risk Management and Migration Analysis; Conditioning Transition Matrices on the Stage of the Business Cycle. International Advances in       Economic Research 20(2), 151-166.
  • Gavalas, D. and Syriopoulos, T., 2014, An Integrated Credit Rating and Loan Quality Model: Application to Bank Shipping Finance. Maritime Policy and Management 42(6), 533-554.
  • Gavalas, D. and Syriopoulos, T., 2014, Basel III and its effects on banking performance; Investigating lending rates and loan quantity. Journal of Finance and Bank Management 2(3&4), 17-52.
  • Gavalas, D. and Syriopoulos, T., 2015, Which risk-collateral channels affect loan management? Journal of Energy Markets 8(3), 1-27.
  • Gavalas, D., 2015, How do banks perform under Basel III? Tracing lending rates and loan quantity. Journal of Economics and Business 81, 21-37.
  • Gavalas, D., 2016, Shipping Firms’ Efficiency Evaluation through Stochastic Frontier Analysis. Modern Economy 7, 867-874.
  • Gavalas, D. and Syriopoulos, T., 2016, Exploring the cyclical stance of the shipping market; introducing the Shipping Climate Tracer. International Journal of Transport Economics 43(3), 247-263.
  • Gavalas, D. and Syriopoulos, T., 2018, Applying the Corporate Social Responsibility to the Shipping Industry. International Journal of Accounting & Financial Reporting 8(1), 155-169.
  • Gavalas, D. and Syriopoulos T., 2019, How sticky are the costs? Evidence from the shipping industry. International Journal of Accounting and Finance Studies, 2(1), doi:10.22158/ijafs.v2n1p1.