Spyridon Lagaras
Assistant Professor of Business Administration


334 Mervis Hall
Personal Website


Spyros Lagaras joined the faculty of the Katz Graduate School of Business at the University of Pittsburgh as an Assistant Professor of Finance in 2018. His research focuses on empirical corporate finance investigating the incentives faced by economic agents – firms, governments, institutions – and their impact on real decisions and the aggregate economy. Specifically, his current work primarily focuses on the literature that links finance with labor markets either by examining the incentives faced by acquiring firms in the decision to reorganize the labor force after M&As, or by exploring the impact of government audit programs on firm growth and labor reallocation. In addition, Spyros investigates how disruptions of the bank lending channel can be used to inform us on the financing of innovation and the impact of corporate ownership on the financing policies of firms.

Spyros received his PhD from the University of Illinois at Urbana-Champaign. He also holds an MBA from Athens University of Economics and Business, and BS in Electrical and Computer Engineering from National Technical University of Athens.

Courses Recently Taught

BUSFIN 1030 Introduction to Finance

Awards and Honors

  • W.E. Upjohn Institute for Employment Research Early Career Research Award
  • Kauffman Foundation Knowledge Challenge Grant
  • Annie E. Casey Foundation Grant
  • Block Center for Technology and Society Grant
  • Gies College of Business Alumni Association Award for Teaching Excellence


  • PhD, Finance, University of Illinois, Urbana-Champaign
  • MBA, Business Administration, Athens University of Economics and Business
  • BS, Electrical and Computer Engineering, National Technical University of Athens

Recent Publications

Colonnelli Emanuele, Lagaras Spyridon, Ponticelli Jacopo, Prem Mounu, and Tsoutsoura Margarita “Revealing Corruption: Firm and Worker Level Evidence from Brazil”, Journal of Financial Economics, 2022, 143(3), 1097–1119

Araujo Aloisio, Ferreira Rafael, Lagaras Spyridon, Moraes Flavio, Ponticelli Jacopo, and Tsoutsoura Margarita, “The Labor Effects of Pro-Continuation Bias in Bankruptcy”

Denes Matthew, Lagaras Spyridon, and Margarita Tsoutsoura, “Entrepreneurship and the Platform Economy: Evidence from U.S. Tax Returns”

Academic Area