Research
Our priority is to promote quality scientific production, aligned with the interests and needs of society and economic and business agents. Throughout the last years, the members of the FIMEGO group have received public funding for their research through which they have developed their research activity and promoted collaborations with researchers from other national and international universities (City University of London, University of Rotterdam, Pace University, Università degli Studi di Palermo, MIT, University of Piura and Technische Universität München, among others).
Currently, the FIMEGO group is working towards 2024-2027 with a research project funded by the Ministry of Science, Innovation and Universities titled “Finance, Sustainability, Technology and Value”. Our objective is to deepen the study of financial decision-making and its implications in terms of value in a disruptive environment characterized by the digitalization of the economy and a greater concern for environmental, social and governance responsibility.
LINES OF RESEARCH
The main areas of research in which members of the FIMEGO group are working are:
FinTech, Financial Decisions and Value
In this line we study business financing decisions through digital media and how these can contribute to efficient financing decisions. Incorporating the digital sphere into financing is synonymous with incorporating the social sphere, social networks, and therefore crowd funding (crowdfunding), the development of which follows a double strand: financing through online platforms and financing through blockchains. Both strands make up investment crowdfunding (investment crowdfunding) and are the framework in which our research questions are posed.
ESG, Financial Decisions and Value
Under this line of research, we study the implications of the new social and environmental demands, as well as the transparency and governance mechanisms that aim to respond, from the financial environment, to these requirements in the corporate and financial sector. Additionally, and focused on the reality of the banking sector, we analyze to what extent this new environment influences the risk management of banking institutions.
PUBLICATIONS
The research activity of FIMEGO members is supported by the publications obtained in the Business/Finance field. Among the most outstanding ones:
Andrés, P de, Arroyo D., Correia, R., Rezola, Á. (2022):
Challenges of the market for initial coin offerings.
International Review of Financial Analysis 79, 101966.
Andrés, P. de, Gimeno, R.; Mateos, R. (2021):
The gender gap and bank credit access.
Journal of Corporate Finance 71: 101782.
Andrés, P. de, Polizzi, S., Scannella, E., Suárez, N. (2024):
Corruption-related disclosure in the banking industry: Evidence from GIPSI countries.
The European Journal of Finance 30(4): 345-369
Andrés, P. de, Vallelado, E. (2008):
Corporate governance in banking: The role of the board of directors.
Journal of Banking & Finance 32(12): 2570-2580
Correia, R., Población, J. (2015):
A structural model with explicit distress.
Journal of Banking & Finance 58: 112-130
Cuadros-Solas, P.J., Salvador, C., Suárez, N. (2021):
Am I riskier if I rescue my banks? Beyond the effects of bank bailouts.
Journal of Financial Stability 56: 100935
Fernández, A.I, González, F., Suárez, N. (2018):
Bank supply shocks and the substitution between bank and non bank debt.
Journal of Corporate Finance 48: 122-147
Forcadell, F.J., Úbeda, F., Zúñiga-Vicente, J.A. (2018):
Initial resource heterogeneity differences between family and non-family firms: Implications for resource acquisition and resource generation.
Long Range Planning 51(5): 693-719
Hoyo, J. del, Llorente, G., Rivero, C. (2020):
A testing procedure for constant parameters in stochastic volatility models.
Computational Economics 56(1): 163-186
Llorente, G., Michaely, R., Saar, G., Wang, J. (2002):
Dynamic volume-return relation of individual stocks.
Review of Financial Studies 15(4): 1005-1047
Mendoza, C., Parra, I., Rezola, Á., Suárez, N. (2023):
Investment crowdfunding has little faith in sustainability! At least for the moment.
Venture Capital 25(1): 91-115
Menkveld, A., ... Kuhle, P., Llorente, G. et al. (2024):
Nonstandard errors.
Journal of Finance, vol. 79,3, 2339-2390
Monjas, M., Balibrea, J. (2014):
Valuation of projects for power generation with renewable energy: A comparative study based on real regulatory options.
Energy Policy 55: 335-52.
Úbeda, F., Forcadell, F. J., Aracil, E., & Mendez, A. (2022):
How sustainable banking fosters the SDG 10 in weak institutional environments.
Journal of Business Research 146: 277-287
RESEARCH PROJECTS
FIMEGO members regularly participate in competitive calls for research grants. The results obtained in recent years are as follows.
Finance: Technology, Sustainability and Value
- Principal Investigator: Pablo de Andrés (UAM)
- Reference: PID2023-149010NB-I00 (PROYECTOS DE GENERACIÓN DE CONOCIMIENTO)
- Period: 2024-2027
- Participants: 14
- Universities: 7
Business Strategies and Innovation for Sustainable Growth
- Principal Investigator: Fernando Úbeda (UAM)
- Reference: PHS-2024/PH-HUM-294
- Period: 2024-2027
- Participants: 20
- Universities: 5
Financial Strategy and Value
- Principal Investigator: Pablo de Andrés (UAM)
- Reference: PID2020-118064GB-I00 (Knowledge Generation Grants)
- Period: 2021-2024
- Participants: 17
- Universities: 6
University Faculty Excellence Program
- Principal Investigator: Pablo de Andrés/Ana Díaz (UAM)
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Reference: Agreement between the Goverment of Madrid and the University Autónoma of Madrid (Line #3)
- Period: 2021-2024
- Participants: 17
- Universities: 1
Challenges for Financial Intermediation: Alternative Finance, Sustainability and Good Governance
- Principal Investigator: Nuria Suárez (UAM)
- Reference: SI3-PJI-2021-00276
- Period: 2021-2023
- Participants: 10
- Universities: 6
Value, Financial Strategy and Corporate Governance
- Principal Investigator: Pablo de Andrés (UAM)
- Reference: ECO2017-85356-P (Knowledge Generation Grants)
- Period: 2018-2021
- Participants: 17
- Universities: 6
