Highly motivated researcher and professional with over 20 years of experience in Financial Analysis in Brazil, USA, UK, and Portugal. Holds a Ph.D. degree with distinction from the MIT Portugal Program at IST and a Master's degree in Finance with distinction from Lancaster University Management School. Experienced in research projects and teaching, with publications in top-ranked journals, including the European Journal of Operational Research and Energy Economics.

Personal identification

Full name
Luciana Salles Barbosa

Citation names

  • Barbosa, Luciana
  • Luciana Barbosa

Author identifiers

Ciência ID
D013-3AFA-0887
Google Scholar ID
WAgLetsAAAAJ
Scopus Author Id
57202081774

Email addresses

  • luciana.barbosa@iscte-iul.pt (Professional)

Addresses

  • Avenida das Forças Armadas, 1649-026, Lisboa, Lisboa, Portugal (Professional)

Websites

Knowledge fields

  • Social Sciences - Economics and Business

Languages

Language Speaking Reading Writing Listening Peer-review
Portuguese (Mother tongue)
English Proficiency (C2) Proficiency (C2) Proficiency (C2) Proficiency (C2) Proficiency (C2)
French Beginner (A1) Elementary (A2) Beginner (A1) Beginner (A1) Beginner (A1)
Spanish; Castilian Elementary (A2) Intermediate (B1) Beginner (A1) Intermediate (B1) Beginner (A1)
Degree Classification
2013/01/01 - 2019/06/07
Concluded
 Sustainable Energy Systems (Doutoramento)
Major in Energy Economics and Finance
Instituto Superior Técnico, Universidade de Lisboa, Portugal
"Managerial Flexibilities and Regulatory Uncertainty in Feed-in Tariffs" (THESIS/DISSERTATION)
 17.33/20 (Pass with Distinction)
2009/10/01 - 2011/03/01
Concluded
 Master of Research in Finance (Master)
Major in Finanças
Lancaster University, United Kingdom
"Investment in Shopping Center and the Real Options Approach" (THESIS/DISSERTATION)
 Distinction
2003/03/01 - 2005/09/30
Concluded
 Industrial Engineering (Master)
Major in Finance and Investment Analysis
Pontifícia Universidade Católica do Rio de Janeiro, Brazil
"Viabilidade econômica em investimentos no mercado imobiliário: gerenciamento de risco e Opções Reais" (THESIS/DISSERTATION)
 9.6/10 (Summa cum laude ¿ Top of the Class)
1993/01/01 - 1998/01/01
Concluded
 Industrial and Civil Engineering (Bacharelato)
Pontifícia Universidade Católica do Rio de Janeiro, Brazil

Teaching in Higher Education

Category
Host institution 		Employer
2021/09 - Current Assistant Professor (University Teacher) ISCTE-Instituto Universitário de Lisboa, Portugal
ISCTE Business School Departamento de Finanças, Portugal
2019/10 - 2021/08 Assistant Professor (University Teacher) Universidade Autónoma de Lisboa, Portugal
Universidade Autónoma de Lisboa Departamento de Ciências Económicas e Empresariais, Portugal

Others

Category
Host institution 		Employer
2018/11 - 2019/10 Director of Investment Analysis JPS Group, Portugal
2006 - 2008 Corporate Actions Specialist II The Bank of New York Mellon, United States
2004 - 2005 Financial Analysis Coordinator EGEC, Brazil
1999 - 2003 Controller SOGIM, Brazil
1996 - 1999 Financial Analyst Atlântica Empreendimentos Imobiliários, Brazil

Grant

Designation Funders
2013/01 - 2017/05 Managerial Flexabilities and Regulatory Uncertainty in Feed-in Tariffs
SFRH/BD/52086/2013
PhD Student Fellow
Fundação para a Ciência e a Tecnologia
Concluded
2009 - 2010 Investment in Shopping Center and the Real Options Approach
XXX
Master Student Fellow
Lancaster University
Concluded
2004 - 2005 Economic Feasabilities in the Real Estate Investment Market: Risk Management and Real Options
XXX
Master Student Fellow
Fundação Carlos Chagas Filho de Amparo à Pesquisa do Estado do Rio de Janeiro
Concluded
1995 - 1996 Bamboo Study for Civil Construction
XXX
Scientific Initiation Fellow
Coordenação de Aperfeiçoamento de Pessoal de Nível Superior
Concluded
1993 - 1995 Differential Equations
XXX
Scientific Initiation Fellow
Conselho Nacional de Desenvolvimento Científico e Tecnológico
Concluded

Contract

Designation Funders
2018/11/15 - 2021/03/31 Ad Hoc Teams With Humans And Robots
FA9550-19-1-0020
Researcher
Ongoing
2011 - 2012 Entrepreneurship
CMU-PT/Etech/0036/2008
Research Fellow
Universidade de Lisboa Instituto Superior de Economia e Gestão, Portugal
 Fundação para a Ciência e a Tecnologia
Concluded

Other

Designation Funders
2023 - Current SEED Project - Awareness for Entrepreneurship and Innovation
xxx
Other
Ongoing

Publications

Conference paper
  1. Barbosa, Luciana; Rodrigues, Artur; Alberto Sardinha. "Strategic investment and subsidies within an asymmetric duopoly under uncertainty". Paper presented in 26th Annual International Real Options Conference, 2023.
  2. Barbosa, Luciana; Rodrigues, Artur; Alberto Sardinha. "Strategic investment and subsidies within an asymmetric duopoly under uncertainty". Paper presented in 12nd Portuguese Financial Conference, Madeira, 2023.
  3. Barbosa, Luciana; Cláudia Nunes Philippart (IST); Artur Rodrigues (Universidade do Minho); Sardinha, Alberto. "Auctions and Real Options: Bidding for Feed-in tariff". Paper presented in 25th Annual International Real Options Conference, Porto, 2022.
  4. Barbosa, Luciana; Nunes, Cláudia; Rodrigues, Artur; Sardinha, Alberto. "Auctions and Real Options: Bidding for Feed-in tariff". Paper presented in 29th Annual Global Finance Conference, Braga, 2022.
  5. Luciana Barbosa; Cláudia Nunes; Artur Rodrigues; Alberto Sardinha. "Feed-In Tariffs In Renewable Energy Projects". Paper presented in 25th Annual International Real Options Conference, 2022.
  6. Luciana Barbosa; Artur Rodrigues; Alberto Sardinha. "Investment Timing and Social Welfare under Feed-in Tariff Contract Schemes". Paper presented in 29th European Financial Management Association (EFMA) conference, Dublin, 2020.
  7. Luciana Barbosa; Artur Rodrigues; Alberto Sardinha. "Feed-in Tariff Contract Schemes in Oligopoly". Paper presented in 10th Portuguese Finance Network Conference, Lisboa, 2018.
  8. Luciana Barbosa; Artur Rodrigues; Alberto Sardinha. "Feed-in Tariff Contract Schemes in Oligopoly". Paper presented in 22nd Annual International Real Options Conference, Düsseldorf, 2018.
  9. Luciana Barbosa; Paulo Ferrão; Artur Rodrigues; Alberto Sardinha. "Analysis of Renewable Energy Policy: Feed-in Tariffs with Minimum Price Guarantees". Paper presented in 6th MIT Portugal Program Conference, Braga, 2016.
  10. Luciana Barbosa; Paulo Ferrão; Artur Rodrigues; Alberto Sardinha. "Analysis of Renewable Energy Policy: Feed-in Tariffs with Minimum Price Guarantees". Paper presented in 20th Annual International Real Options Conference, Oslo and Trondheim, 2016.
  11. Luciana Barbosa; Paulo Ferrão; Artur Rodrigues; Alberto Sardinha. "Equilibrium Analysis, Managerial flexibilities and Minimum price guarantees". Paper presented in Real Option Day, Faculdade de Economia, Universidade do Porto, Porto, 2016.
  12. Luciana Barbosa; Paulo Ferrão; Artur Rodrigues; Alberto Sardinha. "An Equilibrium Analysis of Feed-In Tariff Remunerations". Paper presented in 5th MIT Portugal Annual Conference, Lisboa, 2015.
  13. Luciana Barbosa; Paulo Ferrão; Artur Rodrigues; Alberto Sardinha. "Managerial Flexibilities and Competition in Renewable Energy Investment". Paper presented in 4th MIT Portugal Annual Conference, Coimbra, 2014.
  14. Luciana Barbosa; Monika Tarsalewska; Alberto Sardinha. "An equilibrium analysis of feed-in tariff remuneration: market-dependent and market independent models". Paper presented in Conference on Corporate Sustainability and Eco-innovations, Varsóvia, 2013.
  15. Luciana Barbosa; Alberto Sardinha. "Deploying a Renewable Energy Project: An Equilibrium Analysis". Paper presented in 1st International Conference on Energy & Environment, Porto, 2013.
  16. Luciana Barbosa; Monika Tarsalewska; Alberto Sardinha. "Managerial Flexibilities and Competition in Shopping Center Investment. Real Options Approach to Real Estate". Paper presented in 4th ReCapNet Conference: Real Estate Markets and Capital Markets, Mannheim, 2012.
  17. Luciana Salles; Katia Rocha; Francisco Alcaraz; José Alberto R. P. Sardinha; José Paulo Teixeira. "Real Estate Investments: Risk Management and Real Option". Paper presented in 9th International Managerial Real Options Conference, Paris, 2005.
Journal article
  1. Barbosa, Luciana; Rodrigues, Artur; Sardinha, Alberto. "Optimal price subsidies under uncertainty". European Journal of Operational Research (2022): http://dx.doi.org/10.1016/j.ejor.2022.02.024.
    10.1016/j.ejor.2022.02.024
  2. Barbosa, Luciana; Nunes, Cláudia; Rodrigues, Artur; Sardinha, Alberto. "Feed-in tariff contract schemes and regulatory uncertainty". European Journal of Operational Research 287 1 (2020): 331-347. http://dx.doi.org/10.1016/j.ejor.2020.04.054.
    Published • 10.1016/j.ejor.2020.04.054
  3. Barbosa, L.; Ferrão, Paulo; Rodrigues, Artur; Sardinha, Alberto. "Feed-in tariffs with minimum price guarantees and regulatory uncertainty". Energy Economics 72 (2018): 517-541. http://dx.doi.org/10.1016/j.eneco.2018.04.028.
    Published • 10.1016/j.eneco.2018.04.028
  4. Rocha, Katia; Barbosa, L.; Garcia, Francisco Augusto Alcaraz; Sardinha, José A.; Teixeira, José P.. "Real estate and real options—A case study". Emerging Markets Review 8 1 (2007): 67-79. http://dx.doi.org/10.1016/j.ememar.2006.09.008.
    Published • 10.1016/j.ememar.2006.09.008

Supervision

Thesis Title
Role 		Degree Subject (Type)
Institution / Organization
2024 - Current Impact of Stamp Tax Adjustments on the Short-Term Chinese Stock Market
Supervisor
 Master in Finance
ISCTE-Instituto Universitário de Lisboa, Portugal
2024 - Current Can Environmental, Social, and Governance Performance Impact Financial Performance?
Supervisor
 MSc in Management (Master)
ISCTE-Instituto Universitário de Lisboa, Portugal
2023 - Current Managerial Flexibilities in the Context of Subsidy Policies
Supervisor
 Master in Finance (Master)
ISCTE-Instituto Universitário de Lisboa, Portugal
2023 - Current Unraveling the Tesla Phenomenon: A Comprehensive Analysis of Stock Valuation and Discrepancy between Price and Value Factors
Supervisor
 Master in Finance (Master)
ISCTE-Instituto Universitário de Lisboa, Portugal
2022 - 2023 Real Options Valuation: The Case of Pedestrian Paths in Madeira Island
Co-supervisor
 Master in Finance (Master)
ISCTE Business School, Portugal
2021/09 - 2023 Predicting Startup Outcomes: A KDD approach for the application of deep learning techniques to predict startup outcomes.
Co-supervisor
 MEIC (Master)
Instituto Superior Técnico, Universidade de Lisboa, Portugal

Jury of academic degree

Topic
Role 		Candidate name (Type of degree)
Institution / Organization
2023/12/06 Empirical Comparison of S&P 500 Index Options: Black-Scholes-Merton Model and Heston Model
President of the jury
 Duarte Miguel da Cunha Domingues Amador Marques (Master)
ISCTE Business School Departamento de Finanças, Portugal
2023/12/05 Business Plan for Canine Rescue
President of the jury
 Lara de Sousa Ramalho (Master)
ISCTE Business School Departamento de Finanças, Portugal
2023/11/29 "Uma Casa Portuguesa, Com Certeza": Design of a Portuguese Sovereign Fund to upgrade the Portuguese Immigration Investment Programme
(Thesis) Main arguer
 Maria Beatriz de Andrade e Silva Garrett Lourenço (Master)
ISCTE Business School Departamento de Finanças, Portugal
2023/11/22 A Real Option Approach to Evaluate Onshore Wind Energy Investments with Government Incentives: The Portuguese Case
(Thesis) Main arguer
 Ana Maria Dias Vicente (Master)
ISCTE Business School Departamento de Finanças, Portugal
2023/11/20 Comparison of Black-Scholes and Heston Models
President of the jury
 João Pedro Rodrigues Soares (Master)
2023/10/30 Market-making model analysis in High Frequency Trading for the North American stock market
(Thesis) Main arguer
 Daniela Fernanda Martinez Vargas (Master)
2023/10/09 Carbon Hedging
(Thesis) Main arguer
 Diogo Filipe Sousa Vieira (Master)
ISCTE Business School Departamento de Finanças, Portugal
2023/10/05 Option pricing using machine learning methods
President of the jury
 Raquel Lopes Coutinho (Master)
ISCTE Business School Departamento de Finanças, Portugal
2023/01/25 Equity Valuation: L'Oréal S.A.
President of the jury
 Carolina Delca Carrapo (Master)
ISCTE Business School Departamento de Finanças, Portugal
2023/01/25 "Valuation of Nike Inc.", under the terms of the current legislation.
President of the jury
 Miguel Carlos Freixo (Master)
ISCTE Business School Departamento de Finanças, Portugal
2022/12/20 S&P 500 options term structure
President of the jury
 João Pedro Gonçalves Cordeiro da Silva (Master)
ISCTE Business School Departamento de Economia, Portugal
2022/12/07 Public Stimulus to Private Investment and Prevention of Disinvestment: a CEV approach
(Thesis) Main arguer
 Célia dos Santos Subtil (Master)
ISCTE Business School Departamento de Economia, Portugal
2022/09/23 Option Valuation with the Heston Model
President of the jury
 Yannik Ehlert (Master)
ISCTE Business School Departamento de Finanças, Portugal
2020/10/27 Levenberg-Marquardt Algorithm and Bayesian Inference for SABR Implied Volatility Smile Parameter Estimation
(Thesis) Main arguer
 Francisco Pedro Furtado Simões (Master)
Universidade de Lisboa, Instituto Superior Técnico, Portugal
2020/09/18 A Real Options Model to Determine the Optimal Timing to Invest in a Foreign Country considering the Relative Strength of the Competition
(Thesis) Main arguer
 Eduardo Guimarães Barros de Sá (Master)
Universidade Autónoma de Lisboa, Portugal

Committee member

Activity description
Role 		Institution / Organization
2023 - Current Member of the Scientific Committee of the Finance Department
Member
 ISCTE Business School Departamento de Finanças, Portugal
2020/10 - 2021 Research coordinator of Real Options in the Centro de Investigação em Ciências Económicas e Empresariais
Coordinator
 Universidade Autónoma de Lisboa, Portugal
2019/10 - 2021 Council member of the Economics and Management Department
Member
 Universidade Autónoma de Lisboa, Portugal

Course / Discipline taught

Academic session Degree Subject (Type) Institution / Organization
2024 - Current Corporate Finance and Project Valuation Bachelor Degree in Computer Science and Business Management (Licenciatura) ISCTE-Instituto Universitário de Lisboa, Portugal
2024 - Current Corporate Finance for Lawyers (Mestrado) ISCTE-Instituto Universitário de Lisboa, Portugal
2022/02/01 - Current Portfolio Management Mestrado em Finanças ISCTE Business School Departamento de Finanças, Portugal
2022 - Current Fundamentals of Finance Bachelor Degree in Management (Licenciatura) ISCTE-Instituto Universitário de Lisboa, Portugal
2021 - Current Financial Calculus Bachelor Degree in Finance and Accounting (Licenciatura) ISCTE-Instituto Universitário de Lisboa, Portugal
2021 - Current Corporate Finance Bachelor Degree in Finance and Accounting; Bachelor Degree in Management; (Licenciatura) ISCTE-Instituto Universitário de Lisboa, Portugal
2020/03 - 2021/07 Statistics II Economics and Sports Management (Licenciatura) Universidade Autónoma de Lisboa, Portugal
2020/03 - 2021 Quantitative Methods Applied to Management Master's in Management (Mestrado) Universidade Autónoma de Lisboa, Portugal
2019/10 - 2021 Statistics I Economics and Sports Management (Licenciatura) Universidade Autónoma de Lisboa, Portugal
2004 - 2005 Economics for Engineering Industrial Engineering (Bachelor) Pontifícia Universidade Católica do Rio de Janeiro, Brazil
1993 - 1995 Calculus I Engineering (Bachelor) Pontifícia Universidade Católica do Rio de Janeiro, Brazil

Journal scientific committee

Journal title (ISSN) Publisher
2023 - Current European Journal of Operational Research Elsevier
2020/09/14 - 2020/09/14 Eurasian Economic Review Springer

Other jury / evaluation

Activity description Institution / Organization
2022 - 2022 Essays on Option Pricing - Public Defense Examination of the Doctoral Project in Finance ISCTE Business School Departamento de Finanças, Portugal

Award

2019 PhD with Distinction
Universidade de Lisboa Instituto Superior Técnico, Portugal
2010 Master in Research with Distinction
Lancaster University, United Kingdom
2007 Asset Servicing Recognition Award
The Bank of New York Mellon, United States
1998 Excellent Academic Achievement Award
Pontifícia Universidade Católica do Rio de Janeiro, Brazil