Key Takeaways:
- Dr. Ioannis Floros recently wrapped up his international speaking tour at the Mediterranean Accounting Conference (TMAC 2026) in Crete, Greece and the 2026 Cyprus University of Technology Finance Conference.
- His 2026 engagements included presentations at Loyola University Chicago and the University of Cyprus earlier in the year.
- Dr. Floros presented significant research on newly public firms’ forecasting and disclosure behavior and how equity stakes function in complex collaborations in pharmaceutical firms within the last few months.
CHICAGO, Aug. 20, 2026 (GLOBE NEWSWIRE) -- Dream Exchange is pleased to announce the successful conclusion of the 2026 international academic speaking tour of its Director of Research, Dr. Ioannis Floros. These presentations underscore the commitment of Dr. Floros to advancing global financial scholarship and contributing to the academic community.
Most recently, Dr. Floros presented his latest financial research at the Mediterranean Accounting Conference (TMAC 2026). The event took place from June 14 through June 17, 2026, in Chania, Crete, Greece. Dr. Floros presented his paper, "Balancing Disclosure and Protection: Forecasting Strategies of Newly Public Firms that Redacted Proprietary Information". The study examines how these firms manage the delicate balance between transparent financial disclosure and the protection of sensitive, proprietary data.
Dr. Floros also presented at the 2026 Cyprus University of Technology Finance Conference that took place from June 22nd to June 24th, in Limassol, Cyprus. Dr. Floros presented his paper, “Interfirm Collaboration, Equity Stakes, and Incomplete Contracts: Evidence from the Pharmaceutical Industry”. The paper draws from a sample of license agreements in the pharmaceutical industry. Based on data on all competing drugs and future collaborations between the licensor and licensee firms, a positive association is reported between equity stakes and competition, indicating that equity stakes help align incentives and reduce future conflicts.
The conferences in Greece and Cyprus served as the capstone to an active year of academic outreach. On January 22, 2026, Dr. Floros visited the University of Cyprus to present his paper, “Premium PIPEs: Share Issuances that Exceed the Market Price”. Following his engagement in Cyprus, Dr. Floros presented “Interfirm Collaboration, Ownership Stakes, and Incomplete Contracts: Evidence from the Pharmaceutical Industry” to the department of finance at the Loyola University Chicago Quinlan School of Business on February 6, 2026.
“Engaging with the academic community allows for a critical exchange of ideas that is essential for the continued evolution of financial theory and practice,” said Dr. Floros. “Presenting our research output and gathering feedback from the academic community is an integral, preliminary step to submitting our research papers to academic journals.”
"The continued recognition of the work of Dr. Floros by the international academic community reflects the high standard of excellence we maintain at Dream Exchange," said Joe Cecala, Chief Executive Officer. "His insights into market behavior and corporate strategy are vital to the success of our organization. We are proud to have him leading our research efforts on the global stage."
Dr. Floros’s leadership of the research team at Dream Exchange ensures that the organization remains at the forefront of financial innovation and scholarly discourse. As the Hans G. Storr Associate Professor in Finance at the University of Wisconsin-Milwaukee, Dr. Floros remains active in the academic circuit, contributing to the study of complex market dynamics through his ongoing work and collaborative efforts.
Frequently Asked Questions
What is Dream Exchange?
Dream Exchange is a stock exchange in formation, led by founder and CEO Joe Cecala. It is pursuing registration with the U.S. Securities and Exchange Commission as a national securities exchange through the Form 1 application process. If approved, it would become the first minority-controlled company to operate a licensed stock exchange in the United States.
What is a venture exchange?
A venture exchange is a proposed type of regulated public market for small and mid-sized, early-stage companies to list and trade their shares. It does not yet exist in the United States and would require federal legislation like the Main Street Growth Act to be enacted into law. It is intended to give smaller companies a route to public capital and to give everyday investors a supervised way to invest earlier than private markets allow.
What is the Main Street Growth Act?
The Main Street Growth Act is federal legislation, expected to be proposed in Congress, that would authorize the creation of venture exchanges in the United States. It has not yet been enacted. Dream Exchange supports the passage of the Main Street Growth Act, or of similar legislation, as the legal foundation for a public market built for smaller companies.
Who is Joe Cecala?
Joe Cecala is the founder and CEO of Dream Exchange. He is a securities attorney and certified public accountant who has worked on more than 100 capital-raising events for small businesses across a 30-year career. Mr. Cecala is a longtime advocate for the Main Street Growth Act and the creation of venture exchanges.
Why does small business capital access matter now?
Americans are starting businesses at a record pace, with new business applications reaching nearly 5.5 million in 2023, the highest annual total on record, according to the U.S. Census Bureau. Yet in the Federal Reserve’s 2025 Small Business Credit Survey, about one-third of small firms reported a funding gap after applying for financing. Venture exchanges are intended to help address that gap.
About Dream Exchange
Dream Exchange will be pursuing the registration filing process with the Securities and Exchange Commission, seeking registration as a national securities exchange and authority to be a marketplace that facilitates the trading of securities in the national market system. While it builds its registered stock exchange and develops the necessary infrastructure, it will also focus on providing an “on-ramp” for small to mid-sized companies to access the public markets once legislation like the Main Street Growth Act is enacted into law and venture exchanges are created. Learn more at www.dreamex.com.
Media Contact
Robert Todd, PR Manager, Dream Exchange
773-914-1182
rtodd@dreamex.com
