Professor Allayannis has taught in the First Year Finance program and elective courses in Portfolio, Valuation, and Financial Institutions and Markets as well as in programs in Darden's Executive Education, the CFA Institute, SNL Financial and the World Bank.
His primary research focus is on corporate risk management, exchange-rate risk, capital structure and corporate financial policies. Specifically, his work examines the impact of financial and operational risk management on firm valuation and risk, the valuation implications of cash flow volatility, and the determinants and evolution of a firm's exchange-rate risk. His recent work explores capital structure and liquidity as a way to manage risk and improve value, corporate governance, and earnings management. His research has been published in leading finance journals, such as the Journal of Finance, Journal of Financial Economics and Review of Financial Studies. He was the recipient of: the University of Virginia Alumni Association Distinguished Professor Award in 2011; the Outstanding Faculty Award in 2002, 2009, 2010 and 2012; was elected Faculty Marshal by the graduating classes of 2002, 2004, 2005, 2009, 2010 and 2012; and was the recipient of the Wachovia Award for Research Excellence in 2002 for his article on corporate risk management and its impact on firm value.
Between 2005 and 2007, Allayannis was a director in Citigroup’s Global Financial Strategy Group in the Investment Banking Division. He worked extensively with clients in the financial institutions and industrials sectors advising on a broad range of issues such as capital structure, credit ratings, capital distribution policies, valuation and risk management. He was involved in several strategic and financing transactions. Allayannis also published several Citigroup reports on risk management in emerging markets, the impact of energy prices on corporate financial strategies and the value creation of divestitures in the financial services sector.