Dr Cesario Mateus

Dr Cesario Mateus BSc, MSc, PhD

Dr Cesario Mateus
BSc, MSc, PhD

Senior Lecturer in Finance and Banking

Department of Accounting & Finance

Business School

Dr Cesario Mateus joined the University of Greenwich in 2006. He holds a PhD in Finance from Aarhus School of Business, University of Aarhus, Denmark, an MSc in Finance, and a BSc Hons in Economics. He has received grants and scholarships from the Danish Ministry of Science, Technology and Innovation, the American Finance Association and Financial Management Association.

Dr Mateus has written more than 40 academic papers (for the European Journal of Finance, International Review of Financial Analysis, Quarterly Review Economics and Finance, Journal of International Economic Law and other titles) and has presented his research at invited seminars and international conferences in more than 30 countries. His research focuses on:

  • firms' financing decisions
  • valuations
  • right issues and recently,
  • portfolio management and evaluation
  • hedge funds
  • ETFs' performance
  • and spillover effects.

Dr Mateus has been a referee for several academic journals, including the Journal of International Business Studies, Journal of Empirical Finance, International Review of Economics and Finance, Journal of Accounting in Emerging Economies, International Journal of Managerial Finance, and National Tax Journal. He has taught as a visiting professor at several universities, including:

  • Universitat Pompeu Fabra (Barcelona);
  • Cass Business School
  • University of Southampton
  • University of Birmingham
  • Aston Business School (UK)
  • Catholic University of Lisbon
  • University of Melbourne (Australia)
  • Grenoble School of Management (France and Singapore)
  • and the Federal University of Rio Grande do Sul, (Brazil).

Dr Mateus was also a visiting scholar at the Department of Finance at The Fuqua School of Business, Duke University, USA (2003); consultant at the Portuguese Stock Exchange Commission research department (2008–09); and Millennium BCP (1992–99).

Course leader

  • FINA1082 Principles of Finance (2009–present)
  • FINA 1086 Investment Management (2015–present)

PhD supervision

Completions

  • Lloyd Miller, "Private Equity Buyouts and Firm Efficiency" (2014)

Current PhD students (1st supervisor)

  • Golam Sarwar "Essays on Style Investment" (2013-2016)
  • Worawuth Konsilp "Volatility Risk and Stock Return Predictability" (2013-2016)
  • Ekaterina Klenina "Credit Default Swaps: Interdependence with Sovereign Debt Ratings, Bonds and Equity Markets" (2013-2016)
  • Amir Keshavarz "Modeling Credit Risk for SMEs" (2013-2016)
  • Srinidhi Vasudevan "Social Networking Board Interlocks and Firm's Financial Performance" (2015 -2018)
  • Ashiq Zaman "The optimal use of Return Predictability: An empirical study from Emerging Markets" (2015-2018)

Internal PhD examiner

  • Tanuja Baddevithana (2013): Bank Regulation Implications for Managing Accounting Quality Risk: A Basel and IFRS Perspective
  • Nawar Hashem (2011): Industry Concentration and Stock Returns: Evidence from Publicly Listed Firms in the UK
  • 2013 Winner of the bid for Vice-Chancellor's Scholarship
  • 2006 Research grant from the Danish Ministry of Science, Technology and Innovation
  • 2003 American Finance Association PhD Student Grant
  • 2002 Financial Management Association (FMA) Doctoral Seminar Grant (sponsored by NASDAQ)

Asian Finance Association - Board of Directors (2016 to present)

Advisory editor

  • Heliyon – Elsevier (2016-)
  • Universal Journal of Accounting and Finance (2013-)
  • International Management & Economic Frontiers (2014-)
  • European Journal of Economics, Finance and Administrative Sciences (2007-)
  • Journal of Money, Investment and Banking (2007-)
  • Journal of Risk and Diversification (2011-)
  • Portuguese Journal in Economics, Management and Finance (2005-2006)

External Examiner

  • PG courses in Finance Newcastle Business School (2015-present)
  • UG courses in Finance for Jersey Business School (2013–present)
  • PG courses in Finance for University of Buckingham (2013–2016)
  • PG courses in Finance for Westminster Business School (2009–2013)

Professional affiliations

American Finance Association (AFA); European Finance Association (EFA); Financial Management Association (FMA); European Financial Management Association (EFMA); European Corporate Governance Institute (ECGI); Royal Economic Society; British Accounting Association (BAA); Western Finance Association (WFA); Brazilian Finance Society (BFS); Portuguese Economic Association

Professional Service
Ad Hoc Referee for
Journal of Empirical Finance; International Review of Economics and Finance, Emerging Markets Finance and Trade, Review of Financial Economics; Review of Applied Management Studies; Journal of Money, Investment and Banking; Managerial Finance; Brazilian Finance Journal (Brazilian Finance Society); International Journal Managerial Finance; Revista de Administração de Empresa (Fundação Getúlio Vargas); National Tax Journal

Programme Committee
European Finance Association (Hamburg, 2010, Bergen, 2009, Athens 2008, Ljubljana 2007, Zurich 2006); European Financial Management Association (Barcelona, 2012, Aarhus, 2010, Madrid, 2006); Financial Management Association Conference, USA (New Orleans 2016, Chicago, 2013, Atlanta, 2012, New York, 2010, Reno, 2009, Dallas 2008, Orlando 2007, Salt Lake City 2006, Chicago 2005 and New Orleans 2004); Financial Management Association European Conference (Luxembourg, 2013, Istanbul, 2012, Porto, 2011, Turin, 2009, Prague 2008, Barcelona 2007, Stockholm 2006, Siena 2005 and Zurich 2004); Financial Management Association Asian Meeting (2014, Tokyo, Japan 2013, Shanghai, China); Campus for Finance (Vallendar, Germany, 2012, 2011, 2010, 2009, 2008); Midwest Finance Association Annual Meeting (Texas, USA, 2008); INFINITI Conference (Dublin,2012, 2011, 2010, 2009, 2008, 2007); Decision Sciences Institute Annual Meeting (San Antonio, USA, 2006); Brazilian Finance Society (S. Paulo, 2010, S. Leopoldo, Brazil, 2009

Session Chair
European Financial Management Association (2012, 2009, 2007, 2006, 2003); British Accounting Association (2009); Campus for Finance, Vallendar, Germany (2009, 2008, 2007); Financial Management Association Conference, USA (2008, 2007, 2006, 2005, 2004, 2003); Financial Management Association European Conference, (2008, 2006, 2005, 2004)

External PhD examiner

  • Rasa Karapandza (2009), Three Essays in Financial Economics, Universitat Pompeu Fabra, Barcelona, Spain
  • Milos Buzovic (2009): Risks in Commodity and Currency Markets", Universitat Pompeu Fabra, Barcelona, Spain

External MSc examiner

  • Window Dressing in Portuguese Mutual Funds (2010), MSc in Finance, University of Porto, Faculty of Economics, Portugal
  • PT Multimedias's Share Buyback – A Case Study (2009), MSc in Finance, Catholic University of Lisbon, Portugal
  • Level and Structure Determinants of CEO's Compensation: Portugal versus Spain (2008), MSc in Finance, University of Porto, Faculty of Economics, Portugal
  • Financial Markets, Portfolio Management and Investment Decisions
  • Corporate Finance: Capital structure, capital budgeting, financial reporting, dividends, share repurchases, valuation, and right issues.

Funded research projects

  • "Hedge funds: portfolio composition and risk exposure" University Greenwich Small Research Projects (2016)
  • Financial System regimes: impact on SMEs external financing, efficiency and productivity growth", Bank of England (2014)
  • "Social Networks, Board Interlocks and Firm's Financial Performance" VC PhD Scholarship (2014)
  • "Impact of High Frequency Trading on Market Liquidity Risk and Flash Crashes" VC PhD Scholarship (2013)
  • "The impact of taxation (personal and corporate) on firm's capital structure choices" Danish Ministry of Science, Technology and Innovation (2005-2006) – University of Aarhus,
  • PhD Student Travel Grant, Washington, USA (1st European Student granted), American Finance Association (2003)
  • Doctoral Seminar Grant, sponsored by NASDAQ, San Antonio, Texas, USA, October, Doctoral Seminar Grant, sponsored by NASDAQ, (2002)
  • Erasmus PhD scholarship (EU funding) (2002-2005)

Fernandes C., Farinha J. Martins F. and Mateus C. (2016) "Supervisory Boards, Financial Crisis and Bank Performance: Does Board Characteristics Matter?", Journal of Banking Regulation, Forthcoming

Salma B. S. and Mateus C. (2016), "Corporate Governance impact on bank performance Evidence from Europe, Corporate Ownership and Control, Forthcoming

Fernandes C., Farinha J. Martins F. and Mateus C. (2016) "Determinants of European Banks' Bailouts Following the 2007-2008 Financial Crisis", Journal of International Economic Law, Forthcoming

Mateus B. I., Mateus C. and Todorovic N. (2016), "UK Equity Mutual Fund Alphas Make a Comeback", International Review Financial Analysis, Vol. 44, pp. 98-110

Mateus B. I., Mateus C. and Raju Chinthalapati R. (2016), "Intraday industry-specific spillover effect in European Equity Markets, The Quarterly Review of Economics and Finance, Forthcoming

Sarwar G., Mateus C. and Todorovic N. (2016), "A tale of Two States: Asymmetries in the UK Small, Value and Momentum Premiums", Applied Economics, Forthcoming

Mateus B. I., Hall. T and Mateus C. (2015), "Are listed Firms Better Governed? Empirical Evidence on Board Structure and Financial Performance", Corporate Ownership and Control, Volume 13, Issue 1, Autumn

Faltoni F. and Mateus C. (2015) "How Swap Execution Facilities will reshape the OTC derivative swap market", Journal of Stock & Forex Trading, Vol. 4, Issue 3

Hall T. Mateus C. and Mateus I. B., (2014) "What determines Cash Holdings at Privately Held and Publicly Traded Firms? Evidence from 20 Emerging Markets", International Review of Financial Analysis, Vol. 33, pp. 104-116

Mateus C. and Rahmani Y. (2014) "Physical versus Synthetic Exchange Traded Funds. Which one replicates better?", Journal of Financial Risk Management, forthcoming

Mateus C. and Konsilp W. (2014) "Implied idiosyncratic volatility and Stock Return Predictability" Journal of Mathematical Finance, Vol.4, no. 5

Bartholdy J., Mateus C. and Olson D. (2013), "Do Portuguese Private Firms Follow Pecking Order Financing", The European Journal of Finance, published online: 24 Jul 2012

Mateus C. and Terra P. (2013), "Leverage and the Maturity Structure of Debt in Emerging Markets", Journal of Mathematical Finance, Special Issue in Corporate Finance

Hukelmann C., Mateus C. and Mateus I.B. (2013), "How good are equity valuation models in predicting stock prices", International Research Journal in Finance and Economics, Issue 106, pp. 137-151

Bartholdy J., Mateus C. and Olson D. (2012), ""Do small and medium enterprises match their assets and liabilities? Evidence from Portugal", The International Journal of Business and Finance Research, Vol. 6, n. 4, pp. 13-31

Kirsh G., Mateus C. and Terra P. (2012), "Country Governance Structure and Financial Development as determinants of firms' capital structure", Journal of Money, Investment and Banking, Issue 26, pp. 6-24

Bartholdy J. and Mateus C. (2011), "Debt and taxes for Private Firms", International Review of Financial Analysis, 20, 177–189

Mateus, C., Gama A. and Teixeira A. (2010) "Does trade credit facilitate access to bank finance? An empirical evidence from Portuguese and Spanish SME's, International Research Journal in Finance and Economics, Issue 45, 26-45

Mateus, C. (2005) "Family firms vs. non-Family firms" (in Portuguese) Economics Journal, nº 73

Balla, A. and C. Mateus (2004) "An empirical research on capital structure choices" Budapest Management Review, Vol.35, nº2, p.24-33

Mateus, C. (2004), "Are Capital Structure Decisions of Portuguese SMEs different?" (in Portuguese) Management Journal, nº9

Mateus, C. (2004), "What Motivates investing on Football Clubs", (in Portuguese) Management Journal, nº8

Browse our publications database

Farinha J., Mateus C. and Soares N. (2013), "Right Issues: Do Investors dislike large Price Discounts?", 5th International IFABS Conference, Nottingham, United Kingdom

Hall T., Mateus C. and Mateus B. I. (2013), "Does Listing Status Affect Entrenchment", INFINITI Conference on International Finance, SciencesPo Aix, Aix-en-Provence, France

Hall T., Mateus C. and Mateus B. I. (2012), "What Determines Cash Holdings at Privately Held and Publicly Traded Firms?", European Financial Management Association Annual Meeting, Barcelona, Spain

Hall T., Mateus C. and Mateus B. I. (2012), "What Determines Cash Holdings at Privately Held and Publicly Traded Firms?", INFINITI Conference on International Finance, Triniti College, Dublin, Ireland

Judge, A. and Mateus C. (2012), "The Effects of Access to Public Debt Markets on Capital Structure", Campus for Finance Research Conference, Vallendar, Germany

Fernandes, C., Farinha J., Martins F. and Mateus C. (2012), "Board's Characteristics and the Financial Crisis", 7th Portuguese Finance Network, Aveiro, Portugal

Judge, A. and Mateus C. (2011), "The role of credit ratings in firm's capital structure choices: The post and ex-ante financial crisis", 11th Finance Brazilian Society meeting, Rio de Janeiro, Brazil

Bartholdy J., Mateus C. and Olson D. (2011), "Financing of SMEs: Do They Match Their Assets and Liabilities?", 11th Finance Brazilian Society meeting, Rio de Janeiro, Brazil

Bartholdy J., Mateus C. and Olson D. (2011), "Financing of SMEs: Do They Match Their Assets and Liabilities?", Financial Management Association Asian meeting, Queenstown, New Zealand

Bartholdy J., Mateus C. and Olson D. (2011), "Do SMEs Follow Pecking Order Financing?", 11th Finance Brazilian Society meeting, Rio de Janeiro, Brazil

Bartholdy J., Mateus C. and Olson D. (2011), "Financing of SMEs: Do They Match Their Assets and Liabilities?", 18th Annual Conference Multinational Finance Society, Rome, Italy

Judge, A. and Mateus C. (2010), "The Effects of Access to Public Debt Markets on Capital Structure", European Financial Management Association Annual Meeting, Aarhus, Denmark

Kirsh G., Mateus C. and Terra P. (2009), "The Effect of Ownership Structure, Country Governance, and Financial Development on the Capital Structure of Unlisted Eastern European Firms", European Financial Management Association Annual Meeting, Milan, Italy

Gama A., Mateus, C. and Teixeira A. (2009), "Does Trade Credit Facilitate access to bank finance? Empirical evidence from Portuguese and Spanish small medium size firms", 9th Finance Brazilian Society meeting, Porto Alegre, Brazil

Guedes, J. and Mateus C. (2009), "Trade Credit Linkages along a Supply Chain: Evidence for the Italian Textile Sector, European Financial Management Association Annual Meeting, Milan, Italy

Gama A., Mateus, C. and Teixeira A. (2009), "Does Trade Credit Facilitate access to bank finance? Empirical evidence from Portuguese and Spanish small medium size firms", INFINITI Conference on International Finance, Triniti College, Dublin, Ireland

Yeoh L. and Mateus C. (2008), "Banking and Currency Crises in Emerging Market: The Magnified Effect of Twin Crises on Output", Financial Management Association Annual Meeting, Grapevine, Texas, USA

Kirsh G., Mateus C. and Terra P. (2008), "The Effect of Ownership Structure, Country Governance, and Financial Development on the Capital Structure of Unlisted Eastern European Firms", 8th Finance Brazilian Society meeting, Rio de Janeiro, Brazil

Yeoh L. and Mateus C. (2008), "Banking and Currency Crises in Emerging Market: The Magnified Effect of Twin Crises on Output", Financial Management Association Annual European Meeting, Prague, Czech Republic

Kuo T. W. and Mateus. C (2008), "The performance and persistence of exchange-traded funds: evidence for iShares MSCI country-specific ETFs", 11th Swiss Society for Financial Markets Research Conference, Zurich, Switzerland

Browse our publications database