Alvaro Remesal
I am an Assistant Professor of Finance at CUNEF Universidad. I obtained a PhD in Economics from CEMFI. In this website, you can find updates of my research projects, CV, and teaching.
e-mail: alvaro(dot)remesal(at)cunef(dot)edu
CV, SSRN Profile
RESEARCH WORK
Research Interests
I am a financial economist. My research interests cover a broad set of issues about financial markets and corporate policies, within the areas of Asset Pricing, Artificial Intelligence, Corporate Governance, and Corporate Finance.
PUBLICATIONS
Climate shocks, institutional investors, and the information content of stock prices. Journal of Corporate Finance, 86 (2024) (joint with Ivan Blanco and Jose M. Martin-Flores)
2021 INVERCO Award for the Best Paper on Asset Management presented at the XXVIII AEFIN Finance Forum
Previously entitled "Stock price informativeness and the propagation of idiosyncratic shocks by institutional investors"
Clawback enforcement, executive pay, and accounting manipulation. European Journal of Law and Economics (Forthcoming)
Clawback enforcement heterogeneity and the horizon of executive pay: Empirical evidence. International Journal of Accounting and Information Management. (Forthcoming)
Overlapping Momentum Portfolios. Journal of Empirical Finance, 72 (2023) 1-22 (joint with Ivan Blanco and Miguel De Jesus)
Coverage: "A new twist on momentum strategies: Utilize overlapping momentum portfolios," AlphaArchitect, Dec 2023. "Momentum stocks can give you an edge, researchers say," Marketwatch, Dec 2021. "Overlapping momentum strategies - Gains from diversification of timeframe models," Mark Rzepczynski, Jul 2020. "Improving momentum strategies," Joachim Klement, May 2020.
2022 Award for the Best Paper presented at the XXIX AEFIN Finance Forum
Tracking of OMOM strategy by Quantpedia.
WORKING PAPERS
Competition for talent and cyclical malpractice in corporate governance [link] (R&R in Economica)
Governance reallocation by institutional owners (joint with Sergio Garcia and Jose M. Martin-Flores) [link]
Previously entitled "Governance spillovers of financial market regulations: Evidence from a natural experiment"
WORK IN PROGRESS
Going Deep in Momentum (joint with Ivan Blanco and Sergio Garcia)
Asset pricing through the bottleneck (joint with Ivan Blanco)
CHAPTERS IN BOOKS (in Spanish)
Aprendizaje profundo para series temporales en finanzas: aplicación al factor momentum (con Ivan Blanco y Sergio Garcia). En Análisis Financiero y Big Data (eds. Santiago Carbo, Juan Jose Ganuza, Daniel Peña y Pilar Poncela). Funcas, Mayo 2023.
PERMANENT WORKING PAPERS
How important are dismissals in CEO incentives? Evidence from a dynamic agency model [link]
Receiving the 2022 Award for the Best Paper presented at the XXIX AEFIN Finance Forum [link to the paper]
In this interview I describe and explain some preliminary results of the project "How important are dismissals in CEO incentives? Evidence from a dynamic agency model" (recorded at the 3rd CEPR Annual Spring Symposium in Financial Economics):
TEACHING EXPERIENCE
Financial Economics, CUNEF Universidad (2024-now), Graduate program
Financial Investments, CUNEF Universidad (2024-now), Undergraduate program
Fundamentals of Financial Economics, CUNEF Universidad (2021-2024), Undergraduate program
Finance track in the Masters Program in International Advocacy, UC3M (2020-2023)
Financial Planning & Analysis, CUNEF (2021), Undergraduate program
Principles of Corporate Finance, CUNEF (2019-2021), Undergraduate program
Financing Decisions, CUNEF (2019-2021), Undergraduate program
Introductory Mathematics, CEMFI (2016), Graduate program