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Jesús David Moreno

Associate Professor of Finance

Research Interests

– Investment Funds

– Asset Valuation

– Portfolio Management

Selected Publications

ARTICLES

BOOKS

David Moreno is a tenured professor in the Department of Business Economics at the Universidad Carlos III in the area of Financial Economics and Accounting. In 2021, he was accredited as a University Professor by the Ministry of Universities in Spain.
He holds a doctorate in Economic Sciences from the University of Alcalá in Madrid (Spain), with an Extraordinary Doctorate Award, and a degree in Economics from the same university. Since 2009, he has been the Director of the Master in Finance at Universidad Carlos III, which is rated as the best finance master's program in Spain and one of the 30 best in the world (https://www.uc3m.es/master/finance).
He teaches Financial Economics in the Finance and Accounting and Business Administration degrees. He also teaches Portfolio and Fixed Income Asset Management in several Master's programs and in the Doctoral program. David Moreno's research focuses on different areas within investment funds, as well as various topics related to Asset Pricing and portfolio management.
He has published internationally in the Journal Financial Economics, Journal of Banking and Finance, Quantitative Finance, and European Journal of Operational Research, among others. He has also published nationally in journals such as the Revista Española de Financiación y Contabilidad, among others.

David acts as an anonymous reviewer for journals such as: European Journal of Operational Research, Moneda y Crédito, Revista de Economía Financiera, among others.

Moreno, D., Antoli, M., & Quintana, D.: “Benefits of investing in cryptocurrencies when liquidity is a factor”, Research in International Business and Finance, 2022, 63, 101751.

Mayoral, S., Moreno, D, & Zareei, A.: “Using a Hedging Network to Minimize Portfolio Risk”, Finance Research Letters, 2022, 44, 102044.

Moreno, D., Rodríguez, R. & Zambrana, R.: “Management Sub-Advising in the Mutual Fund Industry”, Journal of Financial Economics, vol. 127 (3), March 2018, 567-587

Moreno, D., Rodríguez, R. & Malagón, J.: “Idiosyncratic volatility, conditional liquidity and stock returns”, International Review of Economics and Finance vol. 53, January 2018, 118-132

Moreno, D., Rodríguez, R. & Malagón, J.: “The Idiosyncratic Volatility Anomaly: Corporate Investment or Investor Mispricing?”, Journal of Banking and Finance, vol. 60, November 2015, 224-23

Moreno, D., Matallín-Sáez, J.C. & Rodríguez, R.: “Why is timing perverse?”, The European Journal of Finance, vol. 21, 2015, 1334-1356

Moreno, D., Rodríguez, R. & Malagón, J.: “Time horizon trading and the idiosyncratic risk puzzle”, Quantitative Finance, vol. 15 (2), 2015, 327-343

Moreno, D., Cáceres, E. & Rodríguez, R.: “A study on short-selling constraints: total ban versus partial ban”, Applied Economics Letters, vol. 22 (2), 2015, 99-103.

Moreno, D., Wang, C. & Rodríguez, R.:“Accurately Measuring Gold Mutual Fund Performance”, Applied Economics Letters, vol. 21 (4), 2014, 268-271.

Moreno, D. & Rodríguez, R.: “Optimal Diversification across Mutual Funds”, Applied Financial Economics, vol. 23 (2), 2013, 199-203.

Moreno, D. & Rodríguez, R.: “The value of coskewness in mutual fund performance evaluation”, Journal of Banking & Finance, vol. 33, 2009, 1664–1676.

Moreno, D., Gil, J. & Tapia, M. : “Price Dynamics, Informational Efficiency and Wealth Distribution in Continuous Double Auction Markets”, Computational Intelligence, vol. 23 (2), 2007, 176-196.

Moreno, D., Gil, J. & Tapia, M. : “Formación de precios en un mercado artificial de doble subasta continua”, Revista Española de Financiación y Contabilidad, vol. 36 (134), 2007, 235-260.

Moreno, D. & Olmedo, I.: “Is the predictability of emerging and developed stock markets really exploitable?”, European Journal of Operational Research, 182 (1), 2007, 436-454.

Moreno, D., Marco, P. & Olmeda, I.: “Self-Organizing Maps could improve the classification of Spanish Mutual Funds”, European Journal of Operational Research, 174, 2006, 1039-1054.

Moreno, D. & Rodríguez, R.: “Performance Evaluation considering the Coskewness: A Stochastic Discount Factor Framework”, Managerial Finance, 32 (4), 2006, 375-392

Moreno, D., Marco, P. & Olmeda, I.: “Risk Forecasting Models and Optimal Portfolio Selection”, Applied Economics, vol. 37, 2005, 1267-1281.

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