Framed within the field of quantitative finance, my research career has been mainly focused on the analysis and measurement of financial risks, specifically the study of interest rate risk and credit risk. With regard to my research on the management of interest risk, this has focused on determining the incidence of interest rate risk in the Spanish banking sector by measuring the sensitivity of credit institutions to interest rate movements. Regarding the credit risk studies, these have focused on the analysis of the transmission and contagion of this type of risk, measured through the credit default swap (CDS) market, both for the European and American markets.
EDUCATION
2010: PhD in Quantitative Finance.
Quality Recognition by the Spanish Government. MCD 2007-00261
2010: Thesis “Impact of Interest Rate Changes on the Distribution of Spanish Banks Stock Returns”. Cum Laude mention.
2006: Diploma of Advanced Studies in Quantitative Finance. Delivered jointly by the University of Valencia, Complutense University of Madrid, University of Castilla La Mancha, and University of the Basque Country.
o Research project: “Impact of Interest Rate Exposure of Spanish Banking Sector”.
o Specific areas of interest: Interest rate exposure of financial institutions, financial econometrics, financial markets, stock market volatility and financial modelling.
2003 – 2004: University Professional Specialization Certificate on Spanish Financial Markets. University of Valencia-ADEIT Foundation.
1998 – 2004: Master degree in Management and Business Administration (University of Valencia, Spain).
When is environmental performance most valued? International evidence from the CDS market L Ballester, A González-Urteaga, B Martínez International Review of Economics & Finance 99, 104057 , 2025 2025 Citations: 2
Rebuttal to L Ballester, H Beladi, A Eshraghi, JW Goodell, T Klein, BM Lucey, ... Coordinated Journals and Citation Patterns, by Carol Alexander, Xi Chen … , 2025 2025
Green bond issuance and credit risk: International evidence L Ballester, A González-Urteaga, L Shen Journal of International Financial Markets, Institutions and Money 94, 102013 , 2024 2024 Citations: 33
Journal of International Financial Markets, Institutions & Money L Ballester, A González-Urteaga, L Shen Journal of International Financial Markets, Institutions & Money 94, 102013 , 2024 2024
Guest Editorial: Recent advances and future directions in macrofinance: Geopolitical Risk and Uncertainty–University Jaume I-2023 L Ballester, A González-Urteaga, JA Lafuente Finance Research Letters 68 (C) , 2024 2024
A two-stage credit scoring model based on random forest: Evidence from Chinese small firms Y Zhou, L Shen, L Ballester International Review of Financial Analysis 89, 102755 , 2023 2023 Citations: 37
European systemic credit risk transmission using Bayesian networks L Ballester, J López, JM Pavía Research in International Business and Finance 65, 101914 , 2023 2023 Citations: 26
Medición y evaluación de resultados en la asignatura de Contabilidad:¿ Se mejora el aprendizaje con ejercicios de autoevaluación? ACD Mendoza, EA Ciriza, Á Melón, LB Miquel, AG Urteaga Edunovatic 2022. Conference Proceedings: 7th Virtual International … , 2022 2022
Autoevaluación y mejora del aprendizaje: medición y evaluación de resultados ACD Mendoza, EA Ciriza, ÁM Izco, L Ballester, AG Urteaga Jornadas de Innovación Docente UR-CRIE 2022:# InnovaDocenteUR: Libro de … , 2022 2022
Ejercicios de autoevaluación y mejora del rendimiento académico ACD Mendoza, ÁM Izco, EA Ciriza, L Ballester, AG Urteaga La innovación como motor para la transformación de la enseñanza … , 2022 2022 Citations: 2
The nexus between sovereign CDS and stock market volatility: new evidence L Ballester, AM Escriva, A Gonzalez-Urteaga Mathematics 9 (11), 1201 , 2021 2021 Citations: 10
Do sovereign ratings cause instability in cross-border emerging CDS markets? L Ballester, A González-Urteaga International Review of Economics & Finance 72, 643-663 , 2021 2021 Citations: 10
The Nexus between Sovereign CDS and Stock Market Volatility: New Evidence. Mathematics 2021, 9, 1201 L Ballester, AM Escrivá, A González-Urteaga s Note: MDPI stays neutral with regard to jurisdictional claims in published … , 2021 2021
The role of internal corporate governance mechanisms on default risk: A systematic review for different institutional settings L Ballester, A Gonzalez-Urteaga, B Martinez Research in International Business and Finance 54, 101293 , 2020 2020 Citations: 105
Is there a connection between sovereign CDS spreads and the stock market? Evidence for European and US returns and volatilities L Ballester, A González-Urteaga Mathematics 8 (10), 1667 , 2020 2020 Citations: 20
Autoevaluación y mejora del rendimiento académico ACD Mendoza, EA Ciriza, L Ballester, AG Urteaga Edunovatic 2020. Conference Proceedings: 5th Virtual International … , 2020 2020
A systematic review of sovereign connectedness on emerging economies L Ballester, AC Díaz-Mendoza, A González-Urteaga International Review of Financial Analysis 62, 157-163 , 2019 2019 Citations: 31
An Empirical Analysis of the Lead Lag Relationship Between CDS and Stock Market L Ballester, R Fernández, A González-Urteaga Mathematical and Statistical Methods for Actuarial Sciences and Finance: MAF … , 2018 2018
Future directions in international financial integration research-A crowdsourced perspective BM Lucey, SA Vigne, L Ballester, L Barbopoulos, J Brzeszczynski, ... International Review of Financial Analysis 55, 35-49 , 2018 2018 Citations: 68
The Effect of Credit Rating Events on the Emerging CDS Market L Ballester, A González-Urteaga Mathematical and Statistical Methods for Actuarial Sciences and Finance: MAF … , 2017 2017
MOST CITED SCHOLAR PUBLICATIONS
Risk transmission between Islamic and conventional stock markets: A return and volatility spillover analysis SJH Shahzad, R Ferrer, L Ballester, Z Umar International Review of Financial Analysis 52, 9-26 , 2017 2017 Citations: 260
Bank fragility and contagion: Evidence from the bank CDS market L Ballester, B Casu, A González-Urteaga Journal of Empirical Finance 38, 394-416 , 2016 2016 Citations: 149
The role of internal corporate governance mechanisms on default risk: A systematic review for different institutional settings L Ballester, A Gonzalez-Urteaga, B Martinez Research in International Business and Finance 54, 101293 , 2020 2020 Citations: 105
Instrumentos de evaluación del uso problemático del teléfono móvil/smart phone CS Sanz, AM Sabater, MLB Tarín, AD Romero Salud y drogas 17 (1), 5-14 , 2017 2017 Citations: 79
Linear and nonlinear interest rate sensitivity of Spanish banks L Ballester, R Ferrer, C González The Spanish Review of Financial Economics 9 (2), 35-48 , 2011 2011 Citations: 77
Future directions in international financial integration research-A crowdsourced perspective BM Lucey, SA Vigne, L Ballester, L Barbopoulos, J Brzeszczynski, ... International Review of Financial Analysis 55, 35-49 , 2018 2018 Citations: 68
A two-stage credit scoring model based on random forest: Evidence from Chinese small firms Y Zhou, L Shen, L Ballester International Review of Financial Analysis 89, 102755 , 2023 2023 Citations: 37
Volatility spillovers in the European bank CDS market A Alemany, L Ballester, A Gonzalez-Urteaga Finance Research Letters 13, 137-147 , 2015 2015 Citations: 34
Green bond issuance and credit risk: International evidence L Ballester, A González-Urteaga, L Shen Journal of International Financial Markets, Institutions and Money 94, 102013 , 2024 2024 Citations: 33
A systematic review of sovereign connectedness on emerging economies L Ballester, AC Díaz-Mendoza, A González-Urteaga International Review of Financial Analysis 62, 157-163 , 2019 2019 Citations: 31
How credit ratings affect sovereign credit risk: Cross-border evidence in Latin American emerging markets L Ballester, A González-Urteaga Emerging Markets Review 30, 200-214 , 2017 2017 Citations: 29
European systemic credit risk transmission using Bayesian networks L Ballester, J López, JM Pavía Research in International Business and Finance 65, 101914 , 2023 2023 Citations: 26
Determinants of interest rate exposure of Spanish banking industry L Ballester, R Ferrer, C Gonzales, GM Soto Department of Economics and Finance Working Papers DT-DAEF 1 , 2009 2009 Citations: 22
Is there a connection between sovereign CDS spreads and the stock market? Evidence for European and US returns and volatilities L Ballester, A González-Urteaga Mathematics 8 (10), 1667 , 2020 2020 Citations: 20
Impacto del riesgo de interés sobre las acciones del sector bancario español L Ballester, R Ferrer, C González Spanish Journal of Finance and Accounting/Revista española de financiación y … , 2009 2009 Citations: 11
The nexus between sovereign CDS and stock market volatility: new evidence L Ballester, AM Escriva, A Gonzalez-Urteaga Mathematics 9 (11), 1201 , 2021 2021 Citations: 10
Do sovereign ratings cause instability in cross-border emerging CDS markets? L Ballester, A González-Urteaga International Review of Economics & Finance 72, 643-663 , 2021 2021 Citations: 10
Bank Fragility and Contagion: Evidence from the CDS market L Ballester, B Casu, A González-Urteaga Unpublished paper, University of Valencia , 2013 2013 Citations: 10
Impact of interest rate risk on the Spanish banking sector L Ballester, R Ferrer, C Gonález Mathematical and Statistical Methods for Actuarial Sciences and Finance, 1-11 , 2010 2010 Citations: 3
Determinants of interest rate exposure of Spanish banking industry GMS Pacheco, C González, L Ballester, R Ferrer Working Papers. Serie EC , 2009 2009 Citations: 3
GRANT DETAILS
• 2019. Teaching Excellence Award. Consell Social de la Universidad de Valencia.
• 2016/2017. Faculty of Economics. Grant for conference’s organization. 15th INFINITI Conference on International Finance.
• 2011/2012. Mobility grant Visiting Research. University of Valencia.
• 2010. Award for Ph.D. thesis corresponding to year 2010. Consejo Económico y Social - Comunidad Valenciana.
• 2010. Mobility grant Visiting Research. University of Castilla La Mancha.
• 2004/05-2005/06. Mobility grant for official masters. PhD in Quantitative Finance. Ministry of Spanish Education. Ref number: DCB2004-0240- DCB2005-0296.
• 2004/05-2005/06. Grant for Official masters. PhD in Quantitative Finance. ASEVAL (Aviva’s Group). Valencia, Spain.
