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).
Mutual funds
Portfolio performance evaluation
Socially responsible investments.
Selected publications
Brito-Ramos, S., Cortez, M. C., & Silva, F. Do Sustainability Signals Diverge? An Analysis of Labeling Schemes for Socially Responsible Investments. Business and Society. 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
Other publications
Brito-Ramos, S., Cortez, M. C., & Silva, F. Do Sustainability Signals Diverge? An Analysis of Labeling Schemes for Socially Responsible Investments. Business and Society. 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. 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
Investments and Portfolio Management
Master
Principles of Corporate Finance
Bachelor
