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Finance and Accounting

The CATÓLICA-LISBON Finance and Accounting research group has been gaining greater visibility in its field over the past several years. Publications by authors from this group have appeared in reputed journals such as the Journal of Finance, Review of Financial Studies, Management Science, Journal of Financial and Quantitative Analysis, and The Accounting Review.

In the past six years, members of this group have been the authors of 32 publications, which they have presented in more than one hundred international conferences.

Fields of study 

The members of the Finance and Accounting research group focus on four main areas of knowledge, to which they have made significant academic contributions.

Some researchers devote their work to financial markets. CUBE researchers in this group focus on topics such as market efficiency, financial innovation, return predictability, asset allocation, institutional trading or international portfolios. Important contributions in this area include José Faias’ paper in 2017, which proposes a new method of building option portfolios that overcomes previous significant limitations. When it comes to household finance, our researchers have contributed to areas like behavioral finance and housing markets. 

On the area of banking and regulation, CUBE researchers Geraldo Cerqueiro, José Corrêa Guedes, Eva Schliephake and Diana Bonfim look into legal and regulatory environments’ effects on loan contracts and the behavior of financial institutions. Recently, Geraldo Cerqueiro has shown that senior lenders are often able to offer better loan contract terms. One of Diana Bonfim’s papers has shown that banks engage in collective risk-taking strategies when managing their liquidity risk, thus calling for a macroprudential approach to liquidity regulation.

Our researchers also work on financial accounting and corporate finance, as is the case for Panagiotis Couzoff, Joana Cardoso Fontes, Jörg Stahl, Fani Kalogirou and José Corrêa Guedes. The team has contributed greatly to the area with insights related to fair value accounting or CEO compensation. In 2017, José Corrêa Guedes showed that compensation contracts based on relative performance evaluation may lead to excessive risk-taking. Jörg Stahl’s research focus is on Political Economy and Finance. Joana Cardoso Fontes looks into the capital market effects of financial reporting. Important contributions in this area include her paper showing that fair-value accounting makes banks more transparent to investors.

Research as a priority

The team regularly publishes in top journals. The members’ work has impacted the profession’s understanding of such important issues as portfolio allocation, market efficiency, tail risk, executive compensation, bank regulation and debtor protection regulation.

Researchers from the Finance and Accounting group at CATÓLICA-LISBON collaborate with some of the top journals in their fields. They have been reviewers for the American Economic Review, the Journal of Finance, the Review of Financial Studies, or Management Science, among others.

The dissemination of the knowledge produced within this researched group is also a priority to the team. Researchers from the business school have spoken at many relevant events, including those organized by the American Finance Association, the National Bureau of Economic Research, the European Finance Association, Eurofidai, the Financial Intermediation Research Society and the European Accounting Association.

CUBE researchers have presented their research in more than one hundred international seminars and conferences worldwide in the past six years. They have also been the organizers of the Lisbon Accounting Conference, bringing leading scholars to Lisbon.

Team members

 

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