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Maria Céu Cortez

Ph.D in Business Administration University of Minho

About

Maria Céu Cortez is Full Professor at the Management Department – School of Economics and Management, University of Minho. She teaches several courses of Investments and her main areas of interest are socially responsible investments and portfolio performance evaluation. She was the Director of the PhD in Business Administration, Director of the Management Department, Director of the Masters in Finance, and Director of the Masters in Management. She was a member of several external evaluation committees of the Portuguese Accreditation Agency for Higher Education (A3ES).

 

 

Areas of interest

Mutual funds
Portfolio performance evaluation
Socially responsible investments.

Publications

Badía, G , Cortez, M C , & Silva, F (2024)

Do investors benefit from investing in stocks of green bond issuers?

Economics Letters, 242, 111859 DOI
Brito-Ramos, S , Cortez, M C , & Silva, F (2024) Do sustainability signals diverge? An analysis of labeling schemes for socially responsible investments Business & Society, 63(6), 1380-1425 DOI
Silva, F , Ferreira, A , & Cortez, M C (2024)

The performance of green bond portfolios under climate uncertainty: A comparative analysis with conventional and black bond portfolios

Research in International Business and Finance, 70 DOI
Cortez, M C , Andrade, N , & Silva, F (2022)

The environmental and financial performance of green energy investments: European evidence

Ecological Economics, 197, 107427 DOI
Badía, G , Ferruz, L , & Cortez, M C (2021)

The performance of social responsible investing from retail investors' perspective: international evidence

International Journal of Finance and Economics, 26(4), 6074–6088 DOI
Adcock, C , Areal, N , Cortez, M C , Oliveira, B , & Silva, F (2020)

Does the choice of fund performance measure matter?

Investment Analysts Journal, 49(1), 53–77 DOI
Badía, G , Cortez, M C , & Ferruz, L (2020)

Socially responsible investing worldwide: Do markets value corporate social responsibility?

Corporate Social Responsibility and Environmental Management, 27(6), 2751–2764 DOI
Leite, P , & Cortez, M C (2020)

Investment and profitability factors in mutual fund performance evaluation: a conditional approach

Applied Economics Letters, 27(16), 1312–1315 DOI
Pereira, P , Cortez, M C , & Silva, F (2019)

Socially responsible investing and the performance of Eurozone corporate bond portfolios

Corporate Social Responsibility and Environmental Management, 26, 1407–1422 DOI
Leite, C , Cortez, M C , Silva, F , & Adcock, C (2018)

The performance of socially responsible equity mutual funds: Evidence from Sweden

Business Ethics, 27(2), 108–126 DOI
Leite, P , & Cortez, M C (2018)

The performance of European SRI funds investing in bonds and their comparison to conventional funds

Investment Analysts Journal, 47(1), 65–79 DOI
Leite, P , & Cortez, M C (2017)

The conditional performance of Euro bond funds: evidence from Portugal during the debt crisis

Revista Espanola De Financiacion y Contabilidad/Spanish Journal of Finance and Accounting, 46(2), 212–226 DOI
Cabral-Cardoso, C , Cortez, M C , & Lopes, L (2016)

Venture capital and the financial crisis in Portugal: the VC managers’ viewpoint

Journal of Small Business and Enterprise Development, 23(4), 1032–1056 DOI
Silva, F , & Cortez, M C (2016)

The performance of US and European green funds in different market conditions

Journal of Cleaner Production, 135, 558–566 DOI
Leite, P , & Cortez, M C (2015)

Performance of European socially responsible funds during market crises: Evidence from France

International Review of Financial Analysis, 40, 132–141 DOI
Leite, P , & Cortez, M C (2014)

Selectivity and timing abilities of international socially responsible funds

Applied Economics Letters, 21(3), 185–188 DOI
Leite, P , & Cortez, M C (2014)

Style and performance of international socially responsible funds in Europe

Research in International Business and Finance, 30(1), 248–267 DOI
Roque, V , & Cortez, M C (2014)

The determinants of international equity investment: Do they differ between institutional and noninstitutional investors?

Journal of Banking and Finance, 49, 469–482 DOI
Areal, N , Cortez, M C , & Silva, F (2013)

The conditional performance of US mutual funds over different market regimes: Do different types of ethical screens matter?

Financial Markets and Portfolio Management, 27(4), 397–429 DOI
Leite, P A , & Cortez, M C (2013)

Conditioning information in mutual fund performance evaluation

In W Bessler, W Drobetz, & C Adcock (Eds ), Asset Management and International Capital Markets (pp 93–113) New York: Routledge DOI
Adcock, C J , Cortez, M C , Armada, M J R , & Silva, F (2012)

Time varying betas and the unconditional distribution of asset returns

Quantitative Finance, 12(6), 951–967 DOI
Adcock, C , Areal, N , Armada, M , Cortez, M C , Oliveira, B , & Silva, F (2012)

Tests of the Correlation between Portfolio Performance Measures

Journal of Financial Transformation, 35, 123–132 DOI
Cortez, M C , Silva, F , & Areal, N M P C (2012)

Socially responsible investing in the global market: The performance of US and European funds

International Journal of Finance and Economics, 17(3), 254–271 DOI
Cortez, M C , Silva, F , & Areal, N M P C (2009)

The performance of european socially responsible funds

Journal of Business Ethics, 87(4), 573–588 DOI
Leite, P A , & Cortez, M C (2009)

Conditioning information in mutual fund performance evaluation: Portuguese evidence

The European Journal of Finance, 15(5-6), 585–605 DOI
Leite, P , Cortez, M C , & Armada, M R (2009)

Measuring Fund Performance Using Multi-Factor Models: Evidence for the Portuguese Market

International Journal of Business, 14(3) DOI
Leite, P , & Cortez, M C (2007)

A Avaliação do Desempenho Condicional de Fundos de Investimento e o Problema das Regressões Espúrias: Um Estudo Empírico para o Mercado Português

Cadernos Do Mercado De Valores Mobiliários, 28, 82–104 DOI
Romacho, J C , & Cortez, M C (2006)

Timing and selectivity in Portuguese mutual fund performance

Research in International Business and Finance, 20(3), 348–368 DOI
Roque, V , & Cortez, M C (2006)

A divulgação de informação ambiental e a performance financeira das empresas cotadas em Portugal

Tékhne - Review of Applied Management Studies, III(5-6), 119–143 DOI
Cortez, M C , & Silva, R (2005)

The determinants of mutual fund family performance: Empirical evidence for the Portuguese market

Cadernos Do Mercado De Valores Mobiliários, 22, 99–110 DOI
Romacho, J C , & Cortez, M C (2005)

Os gestores de carteiras têm capacidade de selecção de títulos e de previsão da evolução do mercado? Um estudo empírico para o mercado português

Tékhne - Review of Applied Management Studies, 4, 39–58 DOI
Silva, F , Cortez, M C , & Armada, M J R (2005)

The persistence of European bond fund performance: Does conditioning information matter?

International Journal of Business, 4(10), 341–361 DOI
Silva, F , Cortez, M C , & Armada, M R (2004)

Bond return predictability: The European market

International Journal of Finance, 16(3), 3083–3114 DOI
Silva, F , Cortez, M C , & Armada, M R (2003)

Conditioning Information and European Bond Fund Performance

European Financial Management, 9(2), 201–230 DOI
Cortez, M C , & Silva, F (2002)

Conditioning information on portfolio performance evaluation: a reexamination of performance persistence in the portuguese mutual fund market

Finance India, 16(4), 1393–1408 DOI
Armada, M R , & Cortez, M C (1999)

Portfolio performance evaluation: historical evolution, issues and directions for future research

Portuguese Review of Financial Markets, 1(3), 51–73 DOI
Cortez, M C , Paxson, D A , & Armada, M R (1999)

The persistence of Portuguese mutual fund performance

European Journal of Finance, 5(4), 342–365 DOI

Projects

Certificações/rótulos de sustentabilidade na Europa: entidades governmentais versus entidades privadas

Funding: Institut Louis Bachelier

Duration: 2022-01-14 - 2023-01-14

Entidades governamentais versus atores privados em labelling de sustentabilidade na União Europeia

Funding: Labex MME-DII

Duration: 2021-12-01 - 2023-02-28

Assimetrias de informação, conflitos de interesses e regulação financeira

Funding: Fundação para a Ciência e Tecnologia

Duration: 2018-10-04 - 2022-10-03

Teaching

Avaliação Financeira de Projectos Mestrado
Finanças Avançadas Doutoramento
Introdução à Gestão Financeira Licenciatura
Investimentos e Gestão de Carteiras Mestrado
Metodologia e Proposta de Investigação em Gestão Mestrado

SDG