{"id":5407,"date":"2025-03-22T11:08:38","date_gmt":"2025-03-22T10:08:38","guid":{"rendered":"https:\/\/indem.uc3m.es\/members\/alejandro-balbas\/"},"modified":"2026-01-18T22:41:08","modified_gmt":"2026-01-18T21:41:08","slug":"alejandro-balbas","status":"publish","type":"members","link":"https:\/\/indem.uc3m.es\/en\/members\/alejandro-balbas\/","title":{"rendered":"Alejandro Balb\u00e1s"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"5407\" class=\"elementor elementor-5407 elementor-3097\" data-elementor-post-type=\"members\">\n\t\t\t\t<div data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-element elementor-element-1fddbe73 e-flex e-con-boxed e-con e-parent\" data-id=\"1fddbe73\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-element elementor-element-ec19bea e-con-full e-flex e-con e-child\" data-id=\"ec19bea\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-52540c5c elementor-widget-mobile__width-inherit elementor-widget elementor-widget-image\" data-id=\"52540c5c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1140\" height=\"1140\" src=\"https:\/\/indem.uc3m.es\/wp-content\/uploads\/2025\/03\/perfil-1448530097.jpg\" class=\"attachment-full size-full wp-image-2797\" alt=\"\" srcset=\"https:\/\/indem.uc3m.es\/wp-content\/uploads\/2025\/03\/perfil-1448530097.jpg 1140w, https:\/\/indem.uc3m.es\/wp-content\/uploads\/2025\/03\/perfil-1448530097-300x300.jpg 300w, https:\/\/indem.uc3m.es\/wp-content\/uploads\/2025\/03\/perfil-1448530097-1024x1024.jpg 1024w, https:\/\/indem.uc3m.es\/wp-content\/uploads\/2025\/03\/perfil-1448530097-150x150.jpg 150w, https:\/\/indem.uc3m.es\/wp-content\/uploads\/2025\/03\/perfil-1448530097-768x768.jpg 768w\" sizes=\"(max-width: 1140px) 100vw, 1140px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-10c05a0 elementor-widget elementor-widget-spacer\" data-id=\"10c05a0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-780f4f41 elementor-hidden-mobile elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"780f4f41\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"mailto:balbas@emp.uc3m.es\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-envelope\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M464 64H48C21.49 64 0 85.49 0 112v288c0 26.51 21.49 48 48 48h416c26.51 0 48-21.49 48-48V112c0-26.51-21.49-48-48-48zm0 48v40.805c-22.422 18.259-58.168 46.651-134.587 106.49-16.841 13.247-50.201 45.072-73.413 44.701-23.208.375-56.579-31.459-73.413-44.701C106.18 199.465 70.425 171.067 48 152.805V112h416zM48 400V214.398c22.914 18.251 55.409 43.862 104.938 82.646 21.857 17.205 60.134 55.186 103.062 54.955 42.717.231 80.509-37.199 103.053-54.947 49.528-38.783 82.032-64.401 104.947-82.653V400H48z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Email: balbas@emp.uc3m.es<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-map-marker-alt\" viewBox=\"0 0 384 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M172.268 501.67C26.97 291.031 0 269.413 0 192 0 85.961 85.961 0 192 0s192 85.961 192 192c0 77.413-26.97 99.031-172.268 309.67-9.535 13.774-29.93 13.773-39.464 0zM192 272c44.183 0 80-35.817 80-80s-35.817-80-80-80-80 35.817-80 80 35.817 80 80 80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Address \/ office: C\/ Madrid, 126 - 28903 Getafe (Madrid) Spain \/ 7.0.50<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span 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421.8z\"><\/path><\/svg>\t\t\t\t<\/a>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t<div class=\"elementor-icon-box-content\">\n\n\t\t\t\t\t\t\t\t\t<h3 class=\"elementor-icon-box-title\">\n\t\t\t\t\t\t<a href=\"https:\/\/x.com\/uc3m_business?lang=es\" >\n\t\t\t\t\t\t\tBUSINESS UC3M\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<p class=\"elementor-icon-box-description\">\n\t\t\t\t\t\t@UC3M_BUSINESS\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-element elementor-element-15e2a73f e-con-full e-flex e-con e-child\" data-id=\"15e2a73f\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2eba44f5 elementor-widget elementor-widget-heading\" data-id=\"2eba44f5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Alejandro Balb\u00e1s<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3ce2b2e0 elementor-widget elementor-widget-heading\" data-id=\"3ce2b2e0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Professor of Finance<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-70a101f elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"70a101f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Selected publications<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-267e99e0 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"267e99e0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-34e09716 elementor-widget elementor-widget-text-editor\" data-id=\"34e09716\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Balb\u00e1s, A., Balb\u00e1s, B. &amp; Balb\u00e1s, R.: \u201c<a href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0378426609003100?via%3Dihub\">CAPM and APT-like models with risk measures<\/a>\u201d Journal of Banking and Finance vol. 34 (6), 2010, 1166-1174.  <\/p><p>Balb\u00e1s, A. &amp; Romera, R.: \u201c<a href=\"https:\/\/www.researchgate.net\/publication\/226208616_Hedging_Interest_Rate_Risk_by_Optimization_in_Banach_Spaces\">Hedging Interest Rate Risk by Optimization in Banach Spaces<\/a>\u201d Journal of Optimization Theory and Applications vol. 132 (1), 2007, 175\u2013191.<\/p><p>Balb\u00e1s, A., Mir\u00e1s, M. &amp; Mu\u00f1oz-Bouzo, M.J.: \u201c<a href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0304406802000368\">Projective System Approach to the Martingale Characterization of the Absence of Arbitrage<\/a>\u201d, Journal of Mathematical Economics vol. 37, 2002, 311-327.<\/p><p>Balb\u00e1s, A. &amp; Iba\u00f1ez, A.: \u201c<a href=\"https:\/\/www.sciencedirect.com\/science\/article\/abs\/pii\/S0378426698000703\">When Can you Immunize a Bond Portfolio?<\/a>\u201d, Journal of Banking and Finance, vol. 22, 1998, 1571-1595.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-588c20c1 uael-faq-box-layout-yes align-at-left elementor-widget elementor-widget-uael-faq\" data-id=\"588c20c1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"uael-faq.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\t\t\t<div id='uael-faq-wrapper-148' class=\"uael-faq-wrapper\">\n\t\t\t\t<div class=\"uael-faq-container uael-faq-layout-accordion\" data-layout=\"accordion\" >\n\t\t\t\t\t\t\t\t\t\t\t\t<div id=\"uael-accordion-9984785\" class=\"uael-faq-accordion\" role=\"tablist\">\n\t\t\t\t\t\t\t\t<div class= \"uael-accordion-title\" aria-expanded=\"false\" role=\"tab\">\n\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon uael-accordion-icon-left\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon-closed\"><svg class=\"e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon-opened\"><svg class=\"e-font-icon-svg e-fas-angle-up\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M177 159.7l136 136c9.4 9.4 9.4 24.6 0 33.9l-22.6 22.6c-9.4 9.4-24.6 9.4-33.9 0L160 255.9l-96.4 96.4c-9.4 9.4-24.6 9.4-33.9 0L7 329.7c-9.4-9.4-9.4-24.6 0-33.9l136-136c9.4-9.5 24.6-9.5 34-.1z\"><\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"uael-question-9984785 uael-question-span\" tabindex=\"0\" id=\"uael-faq-1-6a5a4b57e2758\">Biograf\u00eda<\/span>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"uael-accordion-content\" role=\"tabpanel\">\n\t\t\t\t\t\t\t\t\t<span>\n\t\t\t\t\t\t\t\t\t<span><p>Alejandro Balb\u00e1s holds a PhD in Mathematical Sciences and is a Professor of Financial Economics in the Department of Business Economics at the Universidad Carlos III de Madrid. His academic career has been quite dynamic, initially focusing on topics related to Theoretical Mathematics and progressively evolving towards Financial Economics. Currently, Alejandro dedicates his teaching and research to Financial Markets and, especially, to the topics of valuation, hedging and risk measurement, both in perfect and imperfect markets, liquid or with lack of liquidity.  <br><br>Alejandro has actively contributed to administrative and collaborative tasks for the academic community. Thus, he has held management positions at the University and has participated in the evaluation processes of several accreditation agencies, both Spanish (national or regional) and North American. He has also been on Editorial Boards, has been on the Committees of several Scientific Conferences, and has been an anonymous evaluator of more than twenty International Scientific Journals and several Institutions, including the prestigious American Mathematical Society.  <br><br>Regarding his research activity, Alejandro has participated in several funded research projects, has directed more than ten doctoral theses, and his scientific publications reach one hundred, more than thirty of which have appeared in journals listed by their impact index. Among the latter, one can find journals of theoretical mathematical nature (Mathematica Japonica, Journal of Mathematical Analysis and Applications, Nonlinear Analysis, etc.), Operational Research journals (European Journal of Operational Research, Computers and Mathematics with Applications, Journal of Optimization Theory and Applications, etc.) and economic journals (Journal of Risk and Insurance, Journal of Mathematical Economics, Journal of Banking and Finance, etc.). <\/p><\/span>\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-element elementor-element-1f6bec67 elementor-hidden-desktop elementor-hidden-tablet e-flex e-con-boxed e-con e-parent\" data-id=\"1f6bec67\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2b4f9f81 elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"2b4f9f81\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"mailto:%20rosa.rodriguez@uc3m.es\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-envelope\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M464 64H48C21.49 64 0 85.49 0 112v288c0 26.51 21.49 48 48 48h416c26.51 0 48-21.49 48-48V112c0-26.51-21.49-48-48-48zm0 48v40.805c-22.422 18.259-58.168 46.651-134.587 106.49-16.841 13.247-50.201 45.072-73.413 44.701-23.208.375-56.579-31.459-73.413-44.701C106.18 199.465 70.425 171.067 48 152.805V112h416zM48 400V214.398c22.914 18.251 55.409 43.862 104.938 82.646 21.857 17.205 60.134 55.186 103.062 54.955 42.717.231 80.509-37.199 103.053-54.947 49.528-38.783 82.032-64.401 104.947-82.653V400H48z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Email: rosa.rodriguez@uc3m.es<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-map-marker-alt\" viewBox=\"0 0 384 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M172.268 501.67C26.97 291.031 0 269.413 0 192 0 85.961 85.961 0 192 0s192 85.961 192 192c0 77.413-26.97 99.031-172.268 309.67-9.535 13.774-29.93 13.773-39.464 0zM192 272c44.183 0 80-35.817 80-80s-35.817-80-80-80-80 35.817-80 80 35.817 80 80 80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Address \/ office: C\/ Madrid, 126 - 28903 Getafe (Madrid) Spain \/ 6.0.43<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-phone-alt\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M497.39 361.8l-112-48a24 24 0 0 0-28 6.9l-49.6 60.6A370.66 370.66 0 0 1 130.6 204.11l60.6-49.6a23.94 23.94 0 0 0 6.9-28l-48-112A24.16 24.16 0 0 0 122.6.61l-104 24A24 24 0 0 0 0 48c0 256.5 207.9 464 464 464a24 24 0 0 0 23.4-18.6l24-104a24.29 24.29 0 0 0-14.01-27.6z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Phone \/ fax: (34) 91 624 86 41<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li 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Finance vol. 34 (6), 2010, 1166-1174. Balb\u00e1s, A. &amp; [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/indem.uc3m.es\/en\/members\/alejandro-balbas\/\" \/>\n<meta property=\"og:site_name\" content=\"INDEM - Departamento de Econom\u00eda de la Empresa\" \/>\n<meta property=\"article:modified_time\" content=\"2026-01-18T21:41:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/indem.uc3m.es\/wp-content\/uploads\/2025\/03\/perfil-1448530097.jpg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/indem.uc3m.es\\\/en\\\/members\\\/alejandro-balbas\\\/\",\"url\":\"https:\\\/\\\/indem.uc3m.es\\\/en\\\/members\\\/alejandro-balbas\\\/\",\"name\":\"Alejandro Balb\u00e1s - INDEM - Departamento de Econom\u00eda de la Empresa\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/indem.uc3m.es\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/indem.uc3m.es\\\/en\\\/members\\\/alejandro-balbas\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/indem.uc3m.es\\\/en\\\/members\\\/alejandro-balbas\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/indem.uc3m.es\\\/wp-content\\\/uploads\\\/2025\\\/03\\\/perfil-1448530097.jpg\",\"datePublished\":\"2025-03-22T10:08:38+00:00\",\"dateModified\":\"2026-01-18T21:41:08+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/indem.uc3m.es\\\/en\\\/members\\\/alejandro-balbas\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/indem.uc3m.es\\\/en\\\/members\\\/alejandro-balbas\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/indem.uc3m.es\\\/en\\\/members\\\/alejandro-balbas\\\/#primaryimage\",\"url\":\"https:\\\/\\\/indem.uc3m.es\\\/wp-content\\\/uploads\\\/2025\\\/03\\\/perfil-1448530097.jpg\",\"contentUrl\":\"https:\\\/\\\/indem.uc3m.es\\\/wp-content\\\/uploads\\\/2025\\\/03\\\/perfil-1448530097.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/indem.uc3m.es\\\/en\\\/members\\\/alejandro-balbas\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Portada\",\"item\":\"https:\\\/\\\/indem.uc3m.es\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Members\",\"item\":\"https:\\\/\\\/indem.uc3m.es\\\/en\\\/members\\\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Alejandro Balb\u00e1s\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/indem.uc3m.es\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/indem.uc3m.es\\\/en\\\/\",\"name\":\"INDEM - Departamento de Econom\u00eda de la Empresa\",\"description\":\"A Journey to Excellence.\",\"publisher\":{\"@id\":\"https:\\\/\\\/indem.uc3m.es\\\/en\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/indem.uc3m.es\\\/en\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/indem.uc3m.es\\\/en\\\/#organization\",\"name\":\"INDEM - Departamento de Econom\u00eda de la Empresa\",\"url\":\"https:\\\/\\\/indem.uc3m.es\\\/en\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/indem.uc3m.es\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/indem.uc3m.es\\\/wp-content\\\/uploads\\\/2025\\\/03\\\/cropped-uc3m_Denom_InstitutoDeasrrollo_Empresarial-01.png\",\"contentUrl\":\"https:\\\/\\\/indem.uc3m.es\\\/wp-content\\\/uploads\\\/2025\\\/03\\\/cropped-uc3m_Denom_InstitutoDeasrrollo_Empresarial-01.png\",\"width\":675,\"height\":129,\"caption\":\"INDEM - Departamento de Econom\u00eda de la Empresa\"},\"image\":{\"@id\":\"https:\\\/\\\/indem.uc3m.es\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Alejandro Balb\u00e1s - INDEM - Departamento de Econom\u00eda de la Empresa","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/indem.uc3m.es\/en\/members\/alejandro-balbas\/","og_locale":"en_US","og_type":"article","og_title":"Alejandro Balb\u00e1s - INDEM - Departamento de Econom\u00eda de la Empresa","og_description":"Email: balbas@emp.uc3m.es Address \/ office: C\/ Madrid, 126 &#8211; 28903 Getafe (Madrid) Spain \/ 7.0.50 Phone \/ fax: (+34) 91 624 96 36 BUSINESS UC3M @UC3M_BUSINESS Selected publications Balb\u00e1s, A., Balb\u00e1s, B. &amp; Balb\u00e1s, R.: \u201cCAPM and APT-like models with risk measures\u201d Journal of Banking and Finance vol. 34 (6), 2010, 1166-1174. Balb\u00e1s, A. &amp; [&hellip;]","og_url":"https:\/\/indem.uc3m.es\/en\/members\/alejandro-balbas\/","og_site_name":"INDEM - Departamento de Econom\u00eda de la Empresa","article_modified_time":"2026-01-18T21:41:08+00:00","og_image":[{"url":"https:\/\/indem.uc3m.es\/wp-content\/uploads\/2025\/03\/perfil-1448530097.jpg","type":"","width":"","height":""}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/indem.uc3m.es\/en\/members\/alejandro-balbas\/","url":"https:\/\/indem.uc3m.es\/en\/members\/alejandro-balbas\/","name":"Alejandro Balb\u00e1s - INDEM - Departamento de Econom\u00eda de la Empresa","isPartOf":{"@id":"https:\/\/indem.uc3m.es\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/indem.uc3m.es\/en\/members\/alejandro-balbas\/#primaryimage"},"image":{"@id":"https:\/\/indem.uc3m.es\/en\/members\/alejandro-balbas\/#primaryimage"},"thumbnailUrl":"https:\/\/indem.uc3m.es\/wp-content\/uploads\/2025\/03\/perfil-1448530097.jpg","datePublished":"2025-03-22T10:08:38+00:00","dateModified":"2026-01-18T21:41:08+00:00","breadcrumb":{"@id":"https:\/\/indem.uc3m.es\/en\/members\/alejandro-balbas\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/indem.uc3m.es\/en\/members\/alejandro-balbas\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/indem.uc3m.es\/en\/members\/alejandro-balbas\/#primaryimage","url":"https:\/\/indem.uc3m.es\/wp-content\/uploads\/2025\/03\/perfil-1448530097.jpg","contentUrl":"https:\/\/indem.uc3m.es\/wp-content\/uploads\/2025\/03\/perfil-1448530097.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/indem.uc3m.es\/en\/members\/alejandro-balbas\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Portada","item":"https:\/\/indem.uc3m.es\/en\/"},{"@type":"ListItem","position":2,"name":"Members","item":"https:\/\/indem.uc3m.es\/en\/members\/"},{"@type":"ListItem","position":3,"name":"Alejandro Balb\u00e1s"}]},{"@type":"WebSite","@id":"https:\/\/indem.uc3m.es\/en\/#website","url":"https:\/\/indem.uc3m.es\/en\/","name":"INDEM - Departamento de Econom\u00eda de la Empresa","description":"A Journey to Excellence.","publisher":{"@id":"https:\/\/indem.uc3m.es\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/indem.uc3m.es\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/indem.uc3m.es\/en\/#organization","name":"INDEM - Departamento de Econom\u00eda de la Empresa","url":"https:\/\/indem.uc3m.es\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/indem.uc3m.es\/en\/#\/schema\/logo\/image\/","url":"https:\/\/indem.uc3m.es\/wp-content\/uploads\/2025\/03\/cropped-uc3m_Denom_InstitutoDeasrrollo_Empresarial-01.png","contentUrl":"https:\/\/indem.uc3m.es\/wp-content\/uploads\/2025\/03\/cropped-uc3m_Denom_InstitutoDeasrrollo_Empresarial-01.png","width":675,"height":129,"caption":"INDEM - Departamento de Econom\u00eda de la Empresa"},"image":{"@id":"https:\/\/indem.uc3m.es\/en\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/indem.uc3m.es\/en\/wp-json\/wp\/v2\/members\/5407","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indem.uc3m.es\/en\/wp-json\/wp\/v2\/members"}],"about":[{"href":"https:\/\/indem.uc3m.es\/en\/wp-json\/wp\/v2\/types\/members"}],"version-history":[{"count":1,"href":"https:\/\/indem.uc3m.es\/en\/wp-json\/wp\/v2\/members\/5407\/revisions"}],"predecessor-version":[{"id":5410,"href":"https:\/\/indem.uc3m.es\/en\/wp-json\/wp\/v2\/members\/5407\/revisions\/5410"}],"wp:attachment":[{"href":"https:\/\/indem.uc3m.es\/en\/wp-json\/wp\/v2\/media?parent=5407"}],"wp:term":[{"taxonomy":"area","embeddable":true,"href":"https:\/\/indem.uc3m.es\/en\/wp-json\/wp\/v2\/area?post=5407"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}