Research

Research interests: include text as data, risk measurement and forecasting, option valuation using numerical methods, performance measurement, social responsible investments, and management education.

Researcher id — SSRN page — Google Scholar — ORCID

Journal articles

  • Adcock, C.; Areal, N.; Cortez, M.C.; Oliveira, B.; Silva, F. (2020) “Does the choice of fund performance measure matter?”, Investment Analysts Journal, 49(1), 53-77. DOI: http://dx.doi.org/10.1080/10293523.2020.1723865

  • Oliveira, N.; Cortez, P.; Areal, N. (2017) “The impact of microblogging data for stock market prediction: using Twitter to predict returns, volatility, trading volume and survey sentiment indices”, Expert Systems with Applications, 73(1), 125–144. DOI: http://dx.doi.org/10.1016/j.eswa.2016.12.036

  • Carvalho, A; Areal, N. (2016) “Great Places To Work®: Resilience In Times Of Crisis”, Human Resource Management, 55(3), 479-498.
    DOI: http://dx.doi.org/10.1002/hrm.21676

  • Oliveira, N.; Cortez, P.; Areal, N. (2016) “Stock market sentiment lexicon acquisition using microblogging data and statistical measures”. Decision Support Systems, 85, 62–73.
    DOI: http://doi.org/10.1016/j.dss.2016.02.013

  • Areal, N; Oliveira, B; Sampaio, R. (2015) “When times get tough, gold is golden”. European Journal of Finance, 21(6), pp. 507-526.
    DOI: http://dx.doi.org/10.1080/1351847X.2013.854821

  • Areal, N.; Rodrigues, A. (2014), “Discrete dividends and the FTSE-100 index options valuation”, Quantitative Finance, 14(10), pp. 1765-1784.
    DOI: http://dx.doi.org/10.1080/14697688.2011.618457

  • Areal, N.; Cortez, M. C.; Silva, F. (2013). “The Conditional Performance of U.S. Mutual Funds Over Different Market Regimes: Do Different Types of Ethical Screens Matter?", Financial Markets and Portfolio Management. 27(4), pp. 397-429.
    DOI: http://dx.doi.org/10.1007/s11408-013-0218-5

  • Areal, N.; Rodrigues, A. (2013), “Fast Trees for Options with Discrete Dividends”, Journal of Derivatives,  21(1), pp. 49-63.
    DOI: http://dx.doi.org/10.3905/jod.2013.21.1.049

  • Cortez, M. C.; Silva, F.; Areal, N. (2012), “Socially Responsible Investing In The Global Market: The Performance Of US And European Funds”, International Journal of Finance & Economics, 17(3), pp. 254-271. 
    DOI: http://dx.doi.org/10.1002/ijfe.454

  • Carvalho, A.; Areal, N.; Silva, J. (2011) “Students’ perceptions of Blackboard and Moodle in a Portuguese university”, British Journal of Educational Technology, 42(5), pp. 824-841.
    DOI: http://dx.doi.org/10.1111/j.1467-8535.2010.01097.x

  • Areal, N.; Rodrigues, A. (2010), “On the dangers of a simplistic American option simulation valuation method”, European Journal of Finance, 16(4), pp.373-379.
    DOI: http://dx.doi.org/10.1080/13518470903314428

  • Cortez, M.C.; Silva, F.; Areal, N. (2009), “The performance of European socially responsible funds”, Journal of Business Ethics, 87(4), pp. 573-588.
    DOI: http://dx.doi.org/10.1007/s10551-008-9959-x

  • Areal, N.; Rodrigues, A.; Armada, M. R. (2008), “On improving the least squares Monte Carlo option valuation method”, Review of Derivatives Research, 11(1-2), pp. 119-151.
    DOI: http://dx.doi.org/10.1007/s11147-008-9026-x

  • Portela, M.; Areal, N.; Sá, C.; Alexandre, F.; Cerejeira, J.; Carvalho, A.; Rodrigues, A. (2008), “Evaluating student allocation in the Portuguese public higher education system”, Higher Education, 56(2), pp. 185–203.
    DOI: http://dx.doi.org/10.1007/s10734-007-9097-x

  • Areal, N.; Taylor, S. (2002), “The realized volatility of FTSE-100 futures prices”, Journal of Futures Markets, 22(7), pp. 627-648.
    DOI: http://dx.doi.org/10.1002/fut.10018

  • Areal, N.; Armada, M. R. (2002), “The long-horizon returns behaviour of the Portuguese stock market”, European Journal of Finance, 8(1), pp. 93-122.
    DOI: http://dx.doi.org/10.1080/13518470110076303

  • Areal, N.; Armada, M. R. (1999), “Testes paramétricos e não paramétricos de reversão para a média da rendibilidade de índices do mercado accionista”, Revista de Administração Contemporânea, 3(2), pp. 7-28.
    Available at: http://anpad.org.br/periodicos/content/frame_base.php?revista=1

Proceedings

  • Oliveira, N.; Cortez, P.; Areal, N. (2013) “On the predictability of stock market behavior using StockTwits sentiment and posting volume”, Progress in Artificial Intelligence, Lecture Notes in Computer Science, Vol. 8154, Springer:Berlin, pp. 355-365. ISBN: 978-3-642-40668-3.
    DOI: http://dx.doi.org/10.1007/978-3-642-40669-0_31

  • Oliveira, N.; Cortez, P.; Areal, N. (2013) “Some experiments on modeling stock market behavior using investor sentiment analysis and posting volume from twitter”, ACM International Conference Proceeding Series, 3rd International Conference on Web Intelligence, Mining and Semantics, WIMS 2013 (Madrid- Spain, June, 12-14), ACM: New York, pp. 31:1-31:8. ISBN: 978-1-4503- 1850-1.
    DOI: http://dx.doi.org/10.1145/2479787.2479811

  • Carvalho, A.; Areal, N.; Silva. J. (2009) “Blackboard vs. Moodle: students’ perception of alternative learning management systems”, Proceedings of the IADIS International Conference E-Learning 2009, Algarve, Portugal June, 17-20, vol. II, p: 115-119. ISBN: 978-972-8924-83-6.