Biography
Mariya Gubareva is a Lecturing Professor of Economics and Finance in ISEG – Lisbon School of Economics & Management, Universidade de Lisboa since 2022. She is also a Researcher of Research Centre in Economic and Organisational Sociology (SOCIUS) / ISEG Research, Universidade de Lisboa, since 2017, acting also as Executive Board Member of SOCIUS, Universidade de Lisboa since 2022.
Before joining ISEG, Mariya served as a Pro-President for Research and Development and as a tenured Coordinator Professor in the Department of Economics and Finance of ISCAL – Lisbon Accounting and Business School, Instituto Politécnico de Lisboa. Prior to ISCAL and after successfully accomplished her PhD studies in Economics (2013) from ISEG, Mariya was invited to the Faculty of Social Sciences, University of Madeira for lecturing Economics.
Mariya´s expertise covers the broad interdisciplinary fields of Economics and Finance, including but not limited by financial economics, international economics, financial markets, financial stability, international capital flows, economic policy, market sentiment, and green economics and finance, among others.
She has published more than 80 papers in high-ranking Web of Science, Scopus, ABS, and ABDC indexed journals in the broad area of Economics and Finance. Mariya´s research is recognized by a high number of citations of her papers by the economics and business research community.
She serves as a reviewer for more than 50 specialized and interdisciplinary journals. Moreover, Mariya acts as Editor of 4 international indexed peer reviewed journals in Economics and Finance. She has participated in several competitively financed national and international research projects playing mostly the role of Project Coordinator. She has been several times awarded for the excellence in Finance and Economics research.
Education
| 2013 | PhD in Economics ISEG (Portugal) |
| 2004 | Master, Economy, Economics Academia Russa de Economia Plekhanov (Russia) |
| 2001 | Bachelor, Economy, Economics Instituto Bancário de Moscovo (Russia) |
Publications & Citations
Journal article
| Year | Title / Publication | Link |
|---|---|---|
| 2024 | Returns and volatility connectedness among the Eurozone equity markets International Journal of Finance & Economics |
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| 2024 | Hedge and safe-haven attributes of faith-based stocks vis-à-vis cryptocurrency environmental attention: a multi-scale quantile regression analysis Applied Economics |
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| 2024 | Are REITS hedge or safe haven against oil price fall? International Review of Economics & Finance |
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| 2024 | Energy, metals, market uncertainties, and ESG stocks: Analysing predictability and safe havens North American Journal of Economics and Finance |
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| 2024 | When giants fall: Tracing the ripple effects of Silicon Valley Bank (SVB) collapse on global financial markets Research in International Business and Finance |
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| 2024 | Frequency connectedness between DeFi and cryptocurrency markets The Quarterly Review of Economics and Finance |
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| 2024 | The resilience of Shariah-compliant investments: Probing the static and dynamic connectedness between gold-backed cryptocurrencies and GCC equity markets International Review of Financial Analysis |
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| 2024 | Spillovers and hedging effectiveness between oil and US equity sectors: Evidence from the COVID pre- and post-vaccination phases Research in International Business and Finance |
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| 2024 | Sukuk liquidity and creditworthiness during COVID-19 The Quarterly Review of Economics and Finance |
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| 2024 | Dynamic spillover between oil price shocks and technology stock indices: A country level analysis Research in International Business and Finance |
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| 2024 | Extreme connectedness between NFTs and US equity market: A sectoral analysis International Review of Economics & Finance |
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| 2024 | Time-frequency comovements between environmental cryptocurrency sentiment and faith-based sectoral stocks International Review of Economics & Finance |
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| 2024 | International transmission of shocks and African forex markets Energy Economics |
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| 2024 | Reputational contagion from the Silicon Valley Bank debacle Research in International Business and Finance |
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| 2024 | Spillovers and hedging effectiveness between islamic cryptocurrency and metal markets: Evidence from the COVID-19 outbreak International Review of Economics & Finance |
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| 2024 | Unveiling dynamics: Financial performance determinants in the Ghanaian insurance industry Quarterly Review of Economics and Finance |
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| 2024 | Quantile connectedness and network among Green bonds, Renewable Energy, and G7 sustainability markets Renewable Energy |
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| 2024 | ESG rating changes and portfolio returns: A wavelet analysis across market caps Finance Research Letters |
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| 2024 | When you need them, they are not there: hedge capacities of cryptocurrencies disappear in downtrend markets Financial Innovation |
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| 2024 | African forex markets: Modeling their predictability and the asymmetric effects of oil and geopolitical risk Energy Economics |
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| 2024 | Assessing the connectedness between cryptocurrency environment attention index and green cryptos, energy cryptos, and green financial assets Research in International Business and Finance |
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| 2024 | Food, energy, and water nexus: A study on interconnectedness and trade-offs Energy Economics |
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| 2024 | Connectedness between healthcare cryptocurrencies and major asset classes: Implications for hedging and investments strategies International Review of Financial Analysis |
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| 2024 | Return and volatility spillovers between non-fungible tokens and conventional currencies: evidence from the TVP-VAR model Financial Innovation |
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| 2024 | Extreme connectedness between cryptocurrencies and non-fungible tokens: portfolio implications Financial Innovation |
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| 2023 | Asymmetric impacts of geopolitical risk on stock markets: A comparative analysis of the E7 and G7 equities during the Russian-Ukrainian conflict Heliyon |
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| 2023 | Impacts of COVID-19 on dynamic return and volatility spillovers between rare earth metals and renewable energy stock markets Resources Policy |
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| 2023 | Decoupling Between the Energy and Semiconductor Sectors During the Pandemic: New Evidence from Wavelet Analysis Emerging Markets Finance and Trade |
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| 2023 | Asymmetric effects of geopolitical risk on major currencies: Russia-Ukraine tensions Finance Research Letters |
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| 2023 | Flights-to-quality from EM Bonds to safe-haven US Treasury Securities: A time-frequency Analysis Emerging Markets Finance and Trade |
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| 2023 | Influence of unconventional monetary policy on agricultural commodities futures: network connectedness and dynamic spillovers of returns and volatility Applied Economics |
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| 2023 | Connectedness of COVID vaccination with economic policy uncertainty, oil, bonds, and sectoral equity markets: evidence from the US Annals of Operations Research |
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| 2023 | EU sectoral stocks amid geopolitical risk, market sentiment, and crude oil implied volatility: An asymmetric analysis of the Russia-Ukraine tensions Resources Policy |
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| 2023 | Tail spillover effects between cryptocurrencies and uncertainty in the gold, oil, and stock markets Financial Innovation |
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| 2023 | Spillover and connectedness among G7 real estate investment trusts: The effects of investor sentiment and global factors North American Journal of Economics and Finance |
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| 2023 | For whom does it pay to be a moral capitalist? Sustainability of corporate financial performance of ESG investment PLOS ONE |
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| 2023 | Stablecoins as the cornerstone in the linkage between the digital and conventional financial markets North American Journal of Economics and Finance |
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| 2023 | Interconnectivity among cryptocurrencies, NFTs, and DeFi: Evidence from the Russia-Ukraine conflict North American Journal of Economics and Finance |
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| 2023 | Connectedness of non-fungible tokens and conventional cryptocurrencies with metals North American Journal of Economics and Finance |
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| 2023 | Emerging market debt and the COVID‐19 pandemic: A time–frequency analysis of spreads and total returns dynamics International Journal of Finance & Economics |
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| 2023 | Energy transition metals and global sentiment: Evidence from extreme quantiles Resources Policy |
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| 2023 | Asymmetric effects of market uncertainties on agricultural commodities Energy Economics |
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| 2023 | Is there a nexus between NFT, DeFi and carbon allowances during extreme events? China Finance Review International |
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| 2023 | Social sentiment and exchange-specific liquidity at a Eurasian stock exchange outside of US market hours Eurasian Economic Review |
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| 2023 | Economic policy uncertainty, geopolitical risk, market sentiment, and regional stocks: asymmetric analyses of the EU sectors Eurasian Economic Review |
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| 2022 | Spillovers from stock markets to currency markets: Evidence from Copula-CoVar with time-varying higher moments Applied Economics |
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| 2022 | Trading Volume and Capital Gains Tax - Evidence from Selected Stock Markets with Different Characteristics Finanse i Prawo Finansowe |
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| 2022 | Assessing the impact of media sentiment on the returns of sukuks during the Covid-19 crisis Applied Economics |
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| 2022 | The Multifaceted Sustainable Development and Export Intensity of Emerging Market Firms under Financial Constraints: The Role of ESG and Innovative Activity Complexity |
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| 2022 | Oil price shocks and the term structure of the US yield curve: a time–frequency analysis of spillovers and risk transmission Annals of Operations Research |
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| 2022 | ASEAN-5 forex rates and crude oil: Markov regime-switching analysis Applied Economics |
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| 2022 | Complex Interplay of Eastern Bloc SMEs Trade Credit Determinants: Changes due to the Global Financial Crisis Complexity |
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| 2022 | Covid-19 impact on NFTs and major asset classes interrelations: Insights from the wavelet coherence analysis Finance Research Letters |
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| 2022 | Linkages between DeFi assets and conventional currencies: Evidence from the COVID-19 pandemic International Review of Financial Analysis |
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| 2022 | Spillover and risk transmission between the term structure of the US interest rates and Islamic equities Pacific-Basin Finance Journal |
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| 2022 | The impact of COVID-19 on gold seasonality Applied Economics |
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| 2022 | Governed by the cycle: interest rate sensitivity of emerging market corporate debt Annals of Operations Research |
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| 2022 | Astonishing insights: emerging market debt spreads throughout the pandemic Applied Economics |
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| 2022 | Emerging markets financial sector debt: A Markov‐switching study of interest rate sensitivity International Journal of Finance & Economics |
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| 2021 | Complex Systems in Economics and Where to Find Them JOURNAL OF SYSTEMS SCIENCE AND COMPLEXITY |
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| 2021 | How to estimate expected credit losses – ECL – for provisioning under IFRS 9 Journal of Risk Finance |
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| 2021 | Covid-19 and high-yield emerging market bonds: insights for liquidity risk management Risk Management |
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| 2021 | The impact of Covid-19 on liquidity of emerging market bonds Finance Research Letters |
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| 2021 | Lower reversal limit of the European Central Bank deposit rate and sustainability of traditional banking business model Journal Financial Economic Policy |
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| 2021 | Media sentiment and short stocks performance during a systemic crisis International Review of Financial Analysis |
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| 2021 | The relationship between the Covid-19 media coverage and the Environmental, Social and Governance leaders equity volatility: a time-frequency wavelet analysis Applied Economics |
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| 2021 | Faith-based investments and the Covid-19 pandemic: Analyzing equity volatility and media coverage time-frequency relations Pacific-Basin Finance Journal |
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| 2021 | Return and volatility transmission between oil price shocks and agricultural commodities PLOS ONE |
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| 2021 | The impact of the Covid-19 related media coverage upon the five major developing markets PLOS ONE |
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| 2021 | The impact of Covid-19 on commodity markets volatility: Analyzing time-frequency relations between commodity prices and coronavirus panic levels Resources Policy |
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| 2021 | Impact of the Covid-19 induced panic on the Environmental, Social and Governance leaders equity volatility: A time-frequency analysis Research in International Business and Finance |
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| 2021 | A tale of company fundamentals vs sentiment driven pricing: The case of GameStop Journal of Behavioral and Experimental Finance |
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| 2021 | Return and volatility transmission between emerging markets and US debt throughout the pandemic crisis Pacific Basin Finance Journal |
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| 2020 | Switching Interest Rate Sensitivy Regimes of U.S. Corporates North American Journal of Economics and Finance |
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| 2020 | Systemic Risk in the Angoloan Interbank payment system: a network approach Applied Economics |
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| 2020 | IFRS 9 compliant economic adjustment of expected credit loss modeling Journal of Credit Risk |
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| 2020 | Capital Gains Sensitivity of US BBB-Rated Debt to US Treasury Market: Markov-Switching Analyses Complexity |
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| 2020 | Perception and Drivers of Financial Constraints for the Sustainable Development Sustainability |
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| 2020 | A time–frequency analysis of the impact of the Covid-19 induced panic on the volatility of currency and cryptocurrency markets Journal of Behavioral and Experimental Finance |
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| 2020 | Excess liquidity premia of single-name CDS vs iTraxx/CDX spreads: 2007-2017 Studies in Economics and Finance |
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| 2019 | Weight of the Default Component of CDS Spreads: Avoiding Procyclicality in Credit Loss Provisioning Framework Complexity |
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| 2018 | Binary Interest Rate Sensitivities of Emerging Market Corporate Bonds European Journal of Finance |
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| 2018 | Rethinking Economic Capital Management through the Integrated Derivative-based Treatment of Interest Rate and Credit Risk Annals of Operations Research |
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| 2016 | Typology for fight-to-quality episodes and downside risk measurement Applied Economics |
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Teaching
2024/2025
| Semester | Course | Degree | Coordinator |
|---|---|---|---|
| 2º | Microeconomia II | Licenciatura Bolonha em Gestão - Gestão, Licenciatura Bolonha em Matemática Aplicada à Economia e à Gestão - Matemática Aplicada à Economia e à Gestão, Licenciatura Bolonha em Economia - Economia | No |
| 1º | Microeconomia I | Licenciatura Bolonha em Gestão - Gestão, Licenciatura Bolonha em Matemática Aplicada à Economia e à Gestão - Matemática Aplicada à Economia e à Gestão, Licenciatura Bolonha em Economia - Economia | No |
| 2º | Fundamentals of Financial Economics | Mestrado Bolonha em Finanças - Finance, Mestrado Bolonha em Gestão - Management, Mestrado Bolonha em Economia - Economia | Yes |
| Year | Student Name / Title / Institution | Supervision Type | Link |
|---|---|---|---|
| 2023/2024 | FRANCISCO MIGUEL DINIS DE CARVALHO ESG FACTORS AND FINANCIAL PERFORMANCE OF CORPORATIONS: THE CASE OF MEDITERRANEAN COUNTRIES Instituto Superior de Economia e Gestão |
Master | Ver |
| 2023/2024 | RUI JORGE NOVO ROCHA RIBEIRO FINANCIAL INSTITUTIONS’ MOTIVATIONS TO EMBRACE THE NET ZERO TRANSITION: THE CASE OF BANCO COMERCIAL PORTUGUÊS Instituto Superior de Economia e Gestão |
Master | Ver |
| 2023/2024 | OLAMIDE HANNAH ALFRED EQUITY RESEARCH: INTESA SANPAOLO SPA Instituto Superior de Economia e Gestão |
Master | Ver |
| 2023/2024 | MOLKA EZZEDINI Equity valuation of a bank in a changing financial landscape: the case of the world's oldest bank “Banca Monte dei Paschi di Siena” Instituto Superior de Economia e Gestão |
Master | Ver |
| 2023/2024 | JOÃO PEDRO MADEIRA GÍRIO THE INTRICACIES OF VALUING NON-PUBLICLY TRADED CREDIT INSTITUTIONS: AN EQUITY RESEARCH ON CGD Instituto Superior de Economia e Gestão |
Master | Ver |
| 2023/2024 | MARIANA CAPAZ ANTUNES COELHO DA SILVA EQUITY RESEARCH: OMA SAVINGS BANK PLC Instituto Superior de Economia e Gestão |
Master | Ver |
| 2023/2024 | TOBIA PERICOLO INVESTMENT PERFORMANCE ANALYSIS AND FINANCIAL REPORTING: A CASE STUDY OF GERMANY FACTSHEETS Instituto Superior de Economia e Gestão |
Master | Ver |
| 2022/2023 | AARIF CHENGFENG KUANG ALTERNATIVES FOR BLOCKCHAIN STARTUP INVESTORS: THE CASE OF A TOKEN GENERATION EVENT CANCELLATION Instituto Superior de Economia e Gestão |
Master | Ver |
| 2022/2023 | RICCARDO BORDIGNON DOURADO DONATI EQUITY RESEARCH: SONOS Instituto Superior de Economia e Gestão |
Master | Ver |
| 2022/2023 | GUILHERME PEREIRA DE MATOS EQUITY RESEARCH: ASSICURAZIONI GENERALI S.P.A. Instituto Superior de Economia e Gestão |
Master | Ver |
| 2022/2023 | DIOGO CASIMIRO MONTEIRO Equity Valuation of a company from insurance industry: the case of MAPFRE S.A. Instituto Superior de Economia e Gestão |
Master | Ver |
| 2022/2023 | FRANCISCO DE ALMEIDA MARTINS PINTO DE LIMA Green Bonds: The issuance announcement effect on stock price Instituto Superior de Economia e Gestão |
Master | Ver |
| 2022/2023 | PIETER LUCAS STOLK HANDS-ON M&A ADVISORY EXPERIENCE AT CLAIRFIELD NETHERLANDS Instituto Superior de Economia e Gestão |
Master | Ver |
| 2022/2023 | ALESSANDRO MALATESTA DIGITAL TRANSFORMATION OF FINANCIAL ANALYSIS: THE CASE OF ADIDAS ITALY Instituto Superior de Economia e Gestão |
Master | Ver |
| 2022/2023 | ANDRÉ RICARDO PIMENTEL DIAS EQUITY VALUATION OF AN INSURANCE COMPANY: INSIGHTS FROM ZURICH INSURANCE GROUP Instituto Superior de Economia e Gestão |
Master | Ver |
| 2022/2023 | JOÃO CARLOS TAVARES DA SILVA ARSÉNIO Equity Research: AXA SA Instituto Superior de Economia e Gestão |
Master | Ver |
| 2022/2023 | BOYI WU Valuation of an insurance industry company: the case of Allianz SE Instituto Superior de Economia e Gestão |
Master | Ver |
| 2021/2022 | VASCO GOMES MONT'ALVERNE DE SEQUEIRA EQUITY RESEARCH: JERÓNIMO MARTINS SGPS, SA Instituto Superior de Economia e Gestão |
Master | Ver |
| 2021/2022 | RICARDO OLIVEIRA PINHO DYNAMIC CONNECTEDNESS BETWEEN NFTS AND MARKET SENTIMENT Instituto Superior de Economia e Gestão |
Master | Ver |
| 2021/2022 | LAURA ASSUNÇÃO NUNES EQUITY RESEARCH IN FOOD RETAIL INDUSTRY: THE CASE OF WALMART INC Instituto Superior de Economia e Gestão |
Master | Ver |
| 2021/2022 | TANG YIFAN Equity Research in Chinese Food Retail Industry: the case of YONGHUI SUPERSTORES CO., LTD Instituto Superior de Economia e Gestão |
Master | Ver |
| 2021/2022 | QIAN ZHAO Carrefour SA: Equity Research Instituto Superior de Economia e Gestão |
Master | Ver |
| 2021/2022 | INÊS DO PESO CATALÃO Equity Research: Tesco PLS Instituto Superior de Economia e Gestão |
Master | Ver |
| 2021/2022 | SKANDER BEN AYED FINANCIAL PLANNING AND ANALYSIS FOR STARTUPS IN THE E-HEALTH SECTOR Instituto Superior de Economia e Gestão |
Master | Ver |
| 2018/2019 | CHI NAM YAU Economically justified equity investment strategies capable of withstanding growing interest rate environment |
Master | Ver |