{"id":5080,"date":"2024-03-26T18:21:26","date_gmt":"2024-03-26T18:21:26","guid":{"rendered":"https:\/\/cicee.autonoma.pt\/linha-de-investigacao-1-sustentabilidade-ambiental-e-gestao-de-recursos-naturais-2-2-2-2-2-2\/"},"modified":"2026-10-03T18:26:36","modified_gmt":"2026-10-03T17:26:36","slug":"linha-de-investigacao-1-sustentabilidade-ambiental-e-gestao-de-recursos-naturais-2-2-2-2-2-2","status":"publish","type":"page","link":"https:\/\/cicee.autonoma.pt\/en\/linha-de-investigacao-1-sustentabilidade-ambiental-e-gestao-de-recursos-naturais-2-2-2-2-2-2\/","title":{"rendered":"LINE OF RESEARCH 7 – FINANCIAL MARKETS, INSTRUMENTS & INSTITUTIONS"},"content":{"rendered":"

7. FINANCIAL MARKETS, INSTRUMENTS & INSTITUTIONS<\/span><\/h1>\n
\n

Coordination: Victor Mendes<\/span><\/p>\n<\/div>\n

\n

Report on Scientific Activities and Research Projects 2025\/2026<\/strong><\/h3>\n<\/div>\n
    \n
  • \n

    1.\tResearch Team<\/h3>\n
    \n

    Victor Mendes (coordinator); M\u00e1rio Coutinho dos Santos; Jos\u00e9 Magano; Bruno Maia; Rui Neves; Ant\u00f3nio Cabe\u00e7as; Cristina Nunes.<\/p>\n<\/div>\n<\/li>\n

  • \n

    2.\tParticipation of national and\/or foreign researchers or entities<\/h3>\n
    \n

    ISEG \u2013 University of Lisbon (M. Abreu); Rui Fonseca; CMVM (national surveys from 2015, 2020 and 2023 and CMVM\/Universities surveys).<\/p>\n<\/div>\n<\/li>\n

  • \n

    3.\tBrief description of the main work developed<\/h3>\n
    \n

    ISEG \u2013 University of Lisbon (M. Abreu); Rui Fonseca; CMVM (national surveys \u2013 Financial literacy and financial well-being: pathways of objective and perceived capacity and contextual moderation in Portugal, with three representative surveys (N = 3,648) \u2014 Journal of Risk and Financial Management (2026).
    \u2013 Financial literacy, financial resilience and participation in securities markets: moderated mediation by income and education \u2014 Journal of Risk and Financial Management (2025).
    \u2013 Stability and change in the determinants of savings and portfolio allocation around COVID-19 \u2014 Journal of Behavioral and Experimental Finance (2026).
    \u2013 Financial literacy and sustainability of young adults in Portugal (communication at the XL Annual Meeting of AEDEM; article in preparation).
    \u2013 Stochastic processes, critical phenomena, physics and economics (Rui Neves): application of statistical physics to the dynamics of economic systems \u2014 criticality, phase transitions, scale invariance and renormalization group in the analysis of financial time series; work in progress with PSI-20 data (equations (Chapman-Kolmogorov and Fokker-Planck for log-returns and volatility); includes STEM education with interactive computational modeling, with publication in proceedings indexed in Scopus (Newtonian dynamics; AIP Conference Proceedings).
    \u2013 In development: 2021\u20132025 longitudinal study on financial literacy and market participation in the university ecosystem; sociodemographic and behavioral determinants of risk and loss aversion (VI CMVM\/Universities survey).<\/p>\n

    of 2015, 2020 and 2023 and CMVM\/Universities surveys).<\/p>\n<\/div>\n<\/li>\n

  • \n

    4.\tKey objectives achieved<\/h3>\n
    \n

    Three articles published in journals indexed in Scopus\/Web of Science and two publications in proceedings of international conferences (one of them in proceedings indexed in Scopus); three articles in development and a project in statistical physics and financial markets underway.<\/p>\n<\/div>\n<\/li>\n

  • \n

    5.\tPublished works<\/h3>\n
    \n

    Abreu, M., Mendes, V., & Coutinho dos Santos, M. (2026). Stability and Change: The Evolution of Saving Determinants Through COVID-19. Journal of Behavioral and Experimental Finance<\/em>, 51, 101234. https:\/\/doi.org\/10.1016\/j.jbef.2026.101234<\/p>\n

    Magano, J., Mendes, V., & Coutinho dos Santos, M. (2026). Financial Literacy and Financial Wellbeing: Dual Capability Pathways and Contextual Moderation in Portugal. Journal of Risk and Financial Management<\/em>, 19(7), 459. https:\/\/doi.org\/10.3390\/jrfm19070459<\/p>\n

    Abreu, M., Mendes, V., & Coutinho dos Santos, M. (2025). Financial Literacy, Financial Resilience and Participation in Securities Markets: Evidence from Portugal. Journal of Risk and Financial Management<\/em>, 18(12), 677. https:\/\/doi.org\/10.3390\/jrfm18120677<\/p>\n

    Nunes, C., Cabe\u00e7as, A., & Fonseca, R. (2026). Financial Literacy and Its Impact on Financial Well-being and Financial Sustainability: Evidence from Young Adults in Portugal. Livro de Atas da XL Annual Meeting da AEDEM<\/em>, C\u00f3rdoba.<\/p>\n

    Neves, R., & Neves, A. (2025). Newtonian Dynamics, Conservation Laws, Billiard Balls, and Interactive Computational Modelling. AIP Conference Proceedings<\/em>, 3315, 250001 (atas indexadas na Scopus). https:\/\/doi.org\/10.1063\/5.0286183<\/p>\n<\/div>\n<\/li>\n

  • \n

    6.\tDissemination of results<\/h3>\n
    \n

    Nunes, C., Cabe\u00e7as, A., & Fonseca, R. (2026). Financial Literacy and Its Impact on Financial Well-being and Financial Sustainability: Evidence from Young Adults in Portugal. XL Annual Meeting da AEDEM, C\u00f3rdoba, 10\u201312\/6\/2026.<\/p>\n<\/div>\n<\/li>\n

  • \n

    7.\tConferences and Seminars held at UAL<\/h3>\n
    \n

    CICEE Research Seminar Series, 25\/2\/2026 \u2014 \u00abFinancial Literacy, Financial Resilience and Participation in Securities Markets: Evidence from Portugal\u00bb, Victor Mendes (CMVM \/ CICEE-UAL).<\/p>\n<\/div>\n<\/li>\n<\/ul>\n

    \n

    \u00a0\u00a0<\/strong><\/h3>\n

    Plan 2025\/2026<\/strong><\/h3>\n<\/div>\n
      \n
    • \n

      1.\tResearch Team<\/h3>\n
      \n
        <\/ol>\n

        Victor Mendes (coordinator); M\u00e1rio Coutinho dos Santos; Bruno Maia; Rui Neves; Ant\u00f3nio Cabe\u00e7as; Cristina Nunes.<\/p>\n<\/div>\n<\/li>\n

      1. \n

        2.\tProjects to be developed and main objectives<\/h3>\n
        \n

        \u2013 \u201cSociodemographic and Behavioral Determinants of Risk and Loss Aversion and Participation in Financial Markets\u201d (Abreu, Coutinho dos Santos, and Mendes): data from the 6th CMVM\/Universities survey (October\u2013November 2025); ordered logit\/probit models and quantile regression; submission to an international scientific journal.<\/p>\n

        \u2013 \u201cFinancial Literacy and Securities Market Participation in the University Ecosystem: A Five-Wave Longitudinal Study (2021\u20132025)\u201d (Mendes, Coutinho dos Santos, and Maia): online surveys with students, professors, and administrative staff in five waves; submission to the European Review of Business Economics.<\/p>\n

        \u2013 \u201cFinancial Literacy and Financial Sustainability among Young Adults in Portugal: Implications for Financial Well-being\u201d (Nunes, Cabe\u00e7as, and Fonseca): preparation and submission. \u2013 Stochastic processes, critical phenomena, physics and economics (Rui Neves): scale analysis of PSI-20 data, comparison and correlation with other European and world indices, pricing of options with non-Gaussian fluctuations and analysis of anomalous or extreme events; preparation of two STEM education articles with interactive computational modeling (Maxwell-Boltzmann distribution; introduction to real options and Monte Carlo simulations in business economics, in conjunction with line 3).
        Objectives: submit the three articles, continue the statistical physics and financial markets project and maintain the CMVM\/Universities research series as the basis for research in this line.<\/p>\n<\/div>\n<\/li>\n

      2. \n

        3.\tActivities in partnership with national and\/or foreign entities<\/h3>\n
        \n

        ISEG \u2013 University of Lisbon (M. Abreu); CMVM (CMVM\/Universities surveys); Rui Fonseca.<\/p>\n<\/div>\n<\/li>\n

      3. \n

        4.\tSchedule<\/h3>\n
        \n

        Sept. 2026: ICNAAM 2026, Heraklion, Crete (September 16\u201321) \u2014 organization of Symposium 43 on STEM education with computational modeling, moderation and presentation (Rui Neves).
        Sept. 2026 \u2013 Feb. 2027: analysis of data from the VI survey and longitudinal study; writing of articles.
        Mar. \u2013 Aug. 2027: submission of the three articles; a seminar in the CICEE Research Seminar Cycle (Victor Mendes).<\/p>\n

        Expected completion date: August 31, 2027.<\/p>\n<\/div>\n<\/li>\n

      4. \n

        5.\tMain results\/expected outputs<\/h3>\n
        \n

        Tr\u00eas artigos submetidos (dois a revistas internacionais indexadas e um \u00e0 ERBE); dois artigos de educa\u00e7\u00e3o STEM em prepara\u00e7\u00e3o; uma comunica\u00e7\u00e3o internacional e organiza\u00e7\u00e3o de simp\u00f3sio na ICNAAM 2026; um semin\u00e1rio do CICEE.<\/p>\n<\/div>\n<\/li>\n<\/ul>\n


        \n<\/p>\n","protected":false},"excerpt":{"rendered":"

        7. FINANCIAL MARKETS, INSTRUMENTS & INSTITUTIONS Coordination: Victor Mendes Report on Scientific Activities and Research Projects 2025\/2026 1. Research Team Victor Mendes (coordinator); M\u00e1rio Coutinho dos Santos; Jos\u00e9 Magano; Bruno Maia; Rui Neves; Ant\u00f3nio Cabe\u00e7as; Cristina Nunes. 2. Participation of national and\/or foreign researchers or entities ISEG \u2013 University of Lisbon (M. Abreu); Rui Fonseca; […]<\/p>\n","protected":false},"author":45,"featured_media":0,"parent":0,"menu_order":45,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":"","_members_access_role":[],"_members_access_error":""},"class_list":["post-5080","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/cicee.autonoma.pt\/en\/wp-json\/wp\/v2\/pages\/5080","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cicee.autonoma.pt\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/cicee.autonoma.pt\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/cicee.autonoma.pt\/en\/wp-json\/wp\/v2\/users\/45"}],"replies":[{"embeddable":true,"href":"https:\/\/cicee.autonoma.pt\/en\/wp-json\/wp\/v2\/comments?post=5080"}],"version-history":[{"count":1,"href":"https:\/\/cicee.autonoma.pt\/en\/wp-json\/wp\/v2\/pages\/5080\/revisions"}],"predecessor-version":[{"id":6247,"href":"https:\/\/cicee.autonoma.pt\/en\/wp-json\/wp\/v2\/pages\/5080\/revisions\/6247"}],"wp:attachment":[{"href":"https:\/\/cicee.autonoma.pt\/en\/wp-json\/wp\/v2\/media?parent=5080"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}