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  • Full member

Manuel Rocha Armada

Ph.D in Business Administration University of Manchester


Professor (in Full) of Finance. He was the Scientific Director of one of School’s Research Centers, Vice-President of the School and its President. He got a degree in Management from ISEG (Technical U. Lisbon), a Master degree in Management Science from the U. Kent and the PhD degree in Business Administration from the Manchester Business School.
He published in several international journals, including the European Journal of Finance, the European Financial Management Journal, Industrial and Corporate Change, Review of Derivatives Research, Quantitative Finance, and the Investment Analysts Journal. He is a member of the editorial board of several international journals.
Was also awarded with the “Best Paper Award” (with co-authors) in three International Finance Conferences.
He taught, gave speeches and seminars at several national and international universities and financial institutions.
Professor Armada has held visiting positions at The Wharton School (US), London Business School and Manchester Business Schoo (UKl, U. Zaragoza and U. Santiago (Spain), U. Bergamo (Italy) , U. São Paulo, Mackenzie U. and Getúlio Vargas Foundation (Brazil).
He is also a member of the Mexican Academy of Administrative Sciences.



Areas of interest

Corporate Finance
Behavioral Finance
Mutual Fund Performance
Real Options.


Sardo, F , Serrasqueiro, Z , & Armada, M R (2022)

The importance of owner loans for rebalancing the capital structure of small knowledge-intensive service firms

Research in International Business and Finance, 61, 101657 DOI
Sanvicente, A Z , Kayo, E K , da Rocha Armada, M J , & Nakamura, W T (2021)

New studies and research results on governance and finance in the Brazilian and Latin America contexts

Revista De Administracao Mackenzie, 21(6), ERAMD200301 DOI
Canton, C , Müller, M , da Silva, T P , & Armada, M R (2021)

Dificultad financiera y rendimiento de mercado de organizaciones latinoamericanas

Revista Facultad De Ciencias Económicas, 29(1), 11–26 DOI
Madaleno, M , Vieira, E , Lobão, J , & Armada, M R (2019)

Princípios de Finanças – Instrumentos financeiros – Teoria e Prática

Sílabo DOI
Prates, W , Jr , N D C , Armada, M R , & Silva, S D (2019)

Propensity to sell stocks in an artificial stock market

PLoS One, 14(4), e0215685 DOI