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Maria Céu Cortez

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Maria Céu Cortez

Ph.D in Business Administration University of Minho

mccortez@eeg.uminho.pt

Campus de Gualtar - Edificio 8 - 3.15

ORCID

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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

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

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), 175–198 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 J R (1999)

The persistence of Portuguese mutual fund performance

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

Cortez, M D C R , Paxson, D A , & Armada, M J D R (1999)

Persistence in Portuguese mutual fund performance

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

More publications

Projects

Sustainability Labelling in Europe: governmental bodies versus private actors

Funding: Institut Louis Bachelier

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

Researchers and Team

Lead Researcher

Sofia Correia Ramos

Team

Florinda Silva
Maria Céu Cortez

Governmental bodies versus private actors in sustainability labelling in the European Union

Funding: Labex MME-DII

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

Researchers and Team

Lead Researcher

Sofia Correia Ramos

Team

Florinda Silva
Maria Céu Cortez

Information asymmetry, conflicts of interest, and securities regulation

Funding: Fundação para a Ciência e Tecnologia

Duration: 2018-10-04 - 2021-10-03

Researchers and Team

Lead Researcher

Gilberto Loureiro

Team

Maria Céu Cortez

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

People

Maria Céu Cortez

Campus de Gualtar - Edificio 8 - 3.15

About

Areas of interest

Publications

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

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

Does the choice of fund performance measure matter?

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

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

Socially responsible investing and the performance of Eurozone corporate bond portfolios

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

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

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

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

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

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

Selectivity and timing abilities of international socially responsible funds

Style and performance of international socially responsible funds in Europe

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

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

Conditioning information in mutual fund performance evaluation

Time varying betas and the unconditional distribution of asset returns

Tests of the Correlation between Portfolio Performance Measures

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

The performance of european socially responsible funds

Conditioning information in mutual fund performance evaluation: Portuguese evidence

Measuring fund performance using multi-factor models: Evidence for the Portuguese market

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

Timing and selectivity in Portuguese mutual fund performance

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

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

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

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

Bond return predictability: The European market

Conditioning information and European bond fund performance

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

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

The persistence of Portuguese mutual fund performance

Persistence in Portuguese mutual fund performance

More publications

Projects

Sustainability Labelling in Europe: governmental bodies versus private actors

Researchers and Team

Lead Researcher

Team

Governmental bodies versus private actors in sustainability labelling in the European Union

Researchers and Team

Lead Researcher

Team

Information asymmetry, conflicts of interest, and securities regulation

Researchers and Team

Lead Researcher

Team

Teaching

SDG

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