Scientific Output

Ciber Publications

During the last 20 years, Ciber has contributed to publications on microfinance, corporate social responsibility, socially responsible investments, portfolio management, behavioural finance, sustainable development, public administrations, and other topics. From 2019, Ciber has more than 30 publications in the top quartile rankings of JCR-impact factor journals, of which more than 20 are in the top decile impact factors, and others are listed in the superior categories of the Academic Journal Guide 2024 (CABS).

+30
Q1 Publications
(2019–26)
+20
Top Decile
Impact Factor
11
Years of
Output (2016–26)
No publications found Try a different search term or year filter.
2026
In Progress 3 publications
1
Journal of the Operational Research Society
Mutual fund tournaments: a network DEA model using interim rankings to forecast risk-taking and fund inflows
Boumda, B., Duxbury, D., Ortiz, C., and Vicente, L. — 1–23.
2
Research in International Business and Finance
Treasure hunt in emerging markets: empirical evidence for European pension funds
Cui, Y., Muñoz, F., and Vicente, R. — 81, 103181.
3
Spanish Journal of Finance and Accounting
Performance evaluation with security-level holdings: a study of government bond funds in Southern Europe during the Euro debt crisis
Ortiz, C., Ramírez, G., and Vicente, L. — 1–27.
2025
17 publications
1
BRQ Business Research Quarterly
The reaction to CSR controversies by institutional investors
Alda, M. — 28(1), 15–36.
2
Financial Innovation
Importance of portfolio optimization in SRI and conventional pension funds
Alda, M. — 11, 79.
3
Business Strategy and the Environment
Media Attention to Climate Change and Investor Flows in US Equity Mutual Funds
Andreu, L., deMingo-López, D.V., Matallín-Saez, J.C., and Sarto, J.L. — 1–22.
4
Research in International Business and Finance
Reversal of divergent decisions: Wise or hasty decisions?
Andreu, L., Gimeno, R., Sarto, J.L., and Serrano, M. — 76, 102802.
5
Behavioral Sciences
Phubbing Behaviour: A Bibliometric Analysis of Scientific Production
Cebollero-Salinas, A., Gutiérrez-Nieto, B., Cano-Escoriaza, J. — 15(6), 745.
6
Journal of Management & Organization
The role of organisational factors and environmental conditions on the success of newly founded firms
Cuéllar Fernández, B., Fuertes Callén, Y., and Serrano Cinca, C. — 31(4), 2214–2247.
7
Data in Brief
Improved database of public-private partnerships from World Bank with imputed economic, institutional and conflict data
Fernández-Olmos, M., Fleta-Asín, J., Gómez-Aguas, T., Muñoz, F., and Sánez-Royo, C. — 60, 111457.
8
Public Management Review
Bridging politics and projects: how political affinity and government support affect delays in public–private partnership initiation
Fleta-Asín, J., Jiménez, A., and Muñoz, F. — 1–33.
9
Research in International Business and Finance
In the name of the law: How does legal distance affect US international mutual funds’ financial performance?
Fleta-Asín, J., and Muñoz, F. — 74, 102661.
10
MethodsX
GeoBM: A Python-based tool for integrated visualization of global bibliometric data
Fu, C.C., Fleta-Asín, J., Muñoz, F., Sáenz-Royo, C., and Wei, L.K. — 15, 103497.
11
Growth and Change
Rural entrepreneurship in the face of geodemographic challenges
Fuertes-Callén, Y., Cuéllar-Fernández, B., and Serrano-Magdalena, A. — 56(1), e70017.
12
Journal of Small Business Management
The impact of startup subsidies on survival, growth, and stakeholder value
Fuertes-Callén, Y., Cuéllar-Fernández, B., and Serrano-Magdalena, A. — 63(4), 1437–1465.
13
International Journal of Entrepreneurial Behavior & Research
The pull effect of entrepreneurship on population growth in small municipalities
Fuertes-Callén, Y., Cuellar-Fernández, B., and Serrano-Magdalena, A. — 31(11), 359–382.
14
Humanities and Social Sciences Communications
A bibliometric analysis of the social return on investment
Gutiérrez-Nieto, B., Camón-Cala, J., Cuéllar-Fernández, B., and Fuertes-Callén, Y. — 12(1), 1–14.
15
Applied Economics
Euro sovereign debt crisis: moral suasion in GIPS government bond funds
Ortiz, C., Ramírez, G., and Vicente, L. — 57(59), 10488–10503.
16
Small Business Economics
Financial performance of new circular economy companies in rural settings
Serrano-Magdalena, A., Cuellar-Fernández, B., and Fuertes-Callén, Y. — 64(4), 1953–1980.
2024
6 publications
1
Business Ethics, the Environment and Responsibility
The power of ethical words
Alda, M., Muñoz, F., and Vargas, M. — 33(4), 547–567.
2
Technological Forecasting and Social Change
Factors behind the resilience of rural startups
Cuéllar-Fernández, B., Fuertes-Callén, Y., and Serrano-Magdalena, A. — 206, 123521.
3
Journal of Environmental Management
Risk allocation schemes between public and private sectors in green energy projects
Fleta-Asín, J., and Muñoz, F. — 357, 120650.
4
MethodsX
A methodological approach for enhancing visualization of country data representation in the presence of significant spatial disparity
Fleta-Asín, J., Muñoz, F., and Sáenz-Royo, C. — 13, 102833.
5
Socio-Economic Planning Sciences
Unravelling the influence of formal and informal institutions on the duration of public concessions
Fleta-Asín, J., Muñoz, F., and Sáenz-Royo, C. — 95, 101966.
6
Expert Systems with Applications
The limited role of sustainability in mutual fund investor decisions: A machine learning approach
Vilas, P., Andreu, L., and Serrano, C. — 247, 123288.
2023
8 publications
1
Applied Economics Letters
Are socially responsible investment funds seasonal?
Alda, M., and Vicente, R. — 30(5), 562–565.
2
Finance Research Letters
Family competition via divergence in the trading of funds
Andreu, L., Gimeno, R., and Serrano, M. — 52, 103548.
3
Finance Research Letters
Institutional distance and US-based international mutual funds’ financial performance
Fleta-Asín, J., and Muñoz, F. — 51, 103412.
4
Socio-Economic Planning Sciences
When bigger is better: Investment volume drivers in infrastructure public-private partnership projects
Fleta-Asín, J., and Muñoz, F. — 86, 101473.
5
International Journal of Emerging Markets
“Sand” or “grease” effect? The impact of corruption on the investment volume of public−private partnerships
Fleta-Asín, J., and Munoz, F. — 18(5), 1168–1186.
6
Journal of Behavioral and Experimental Finance
A bibliometric analysis of the disposition effect: Origins and future research avenues
Gutiérrez-Nieto, B., Ortiz, C., and Vicente, L. — 37, 100774.
7
The Quarterly Review of Economics and Finance
Pathways to self-sufficiency in the microfinance ecosystem
Serrano Cinca, C., Cuellar Fernández, B., and Fuertes Callén, Y. — 92, 262–273.
8
Nonprofit & Voluntary Sector Quarterly
The relationship between microfinance mission drift and financial returns to stakeholders
Serrano Cinca, C., Fuertes Callén, Y., and Cuéllar Fernández, B. — 52(6), 1609–1632.
2022
11 publications
1
Journal of Multinational Financial Management
Product differentiation in the socially responsible mutual fund industry
Alda, M., Muñoz, F., and Vargas, M. — 64, 100730.
2
Research in International Business and Finance
Diversification and manager autonomy in fund families: Implications for investors
Andreu, L., Gimeno, R., and Ortiz, C. — 60, 101605.
3
Finance Research Letters
Ethical window dressing: SRI funds are as good as their word
Muñoz, F., Ortiz, C., and Vicente, L. — 49, 103109.
4
Public Management Review
Does the past matter? Unravelling the temporal interdependencies of institutions in the success of public–private partnerships
Fleta-Asín, J., Muñoz-Sánchez, F., and Gimeno-Feliú, J.M. — 1–27.
5
Journal of Small Business Management
Predicting startup survival using first year’s financial statements
Fuertes Callén, Y., Cuéllar Fernández, B., and Serrano Cinca, C. — 60(6), 1314–1350.
6
International Review of Financial Analysis
Fund trading divergence and performance contribution
Gimeno, R., Andreu, L., and Sarto, J.L. — 83, 102221.
7
Journal of Risk and Financial Management
You learn when it hurts: Evidence in the mutual fund industry
Gimeno, R., Sarto, J.L., and Vicente, L. — 15(1), 33.
8
Journal of Cleaner Production
Cluster analysis to validate the sustainability label of stock indices: An analysis of the inclusion and exclusion processes in terms of size and ESG ratings
Vilas, P., Andreu, L., and Sarto, J.L. — 330, 129862.
9
Revista Educación, Investigación, Innovación y Transferencia
Percepción de los estudiantes de ADE sobre la carga de trabajo soportada
Alda, M., Marco, I., Muñoz, F., Vargas, M., and Vicente, R. — (1), 39–54.
2021
13 publications
1
International Journal of Finance & Economics
The dilemma between fund-style consistency and active management over the economic cycle. Evidence from pension funds
Alda, M. — 26(2), 2219–2240.
2
Review of Managerial Science
Managers beyond borders: side-by-side management in mutual funds and pension funds
Alda, M. — 15(2), 399–436.
3
Journal of Cleaner Production
The ESG dimension of firms in which SRI and conventional pension funds invest
Alda, M. — 298, 126812.
4
BRQ Business Research Quarterly
Window Dressing in the Active Share scores in publicly reported portfolios
Andreu, L., Forner, C., and Sarto, J.L.
5
Sustainability
Do socially responsible investment funds sell losses and ride gains? The disposition effect in SRI funds
Boumda, B., Duxbury, D., Ortiz, C., and Vicente, L. — 13(15), 8142.
6
Sustainable Development
Renewable energy public–private partnerships in developing countries: Determinants of private investment
Fleta-Asín, J., and Muñoz, F. — 29(4), 653–670.
7
Electronic Commerce Research and Applications
Survival of e-commerce entrepreneurs: The importance of brick-and-click and internationalization strategies
Fuertes Callén, Y., Cuéllar Fernández, B., and Serrano Cinca, C. — 46, 101035.
8
Journal of Multinational Financial Management
Determinants of non-compliant equity funds with EU portfolio concentration limits
Lobán, L., Sarto, J.L., and Vicente, L. — 62, 100707.
9
International Review of Financial Analysis
Carbon-intensive industries in Socially Responsible mutual funds’ portfolios
Muñoz, F. — 75, 101740.
10
Business Ethics, the Environment & Responsibility
Sin sectors and negative screening
Muñoz, F. — 30(2), 216–230.
11
Sustainability Accounting, Management and Policy Journal
Style-changing behaviour in the socially responsible mutual fund industry: consequences on financial and sustainable performance
Muñoz, F., Vargas, M., and Vicente, R. — 12(5), 1027–1051.
12
PLoS ONE
A model for predicting court decisions on child custody
Muñoz-Soro, J.F., and Serrano-Cinca, C. — 16(10), e0258993.
13
Sustainability Accounting, Management and Policy Journal
Firm and Country Characteristics Related to Cumulative Contribution to Society
Serrano Cinca, C., Cuéllar Fernández, B., and Fuertes Callén, Y. — 12(1), 184–219.
2020
10 publications
1
Finance Research Letters
ESG fund scores in UK SRI and conventional pension funds: Are the ESG concerns of the SRI niche affecting the conventional mainstream?
Alda, M. — 36, 101313.
2
Business Ethics: A European Review
Socially responsible mutual fund exit decisions
Alda, M., Muñoz, F., and Vargas, M. — 29(1), 82–97.
3
Research in International Business and Finance
Behavioural analysis of socially responsible investment managers: specialists versus non-specialists
Alda, M., and Vicente, R. — 54, 101303.
4
Journal of Economic Behavior and Organization
Disposition effect in fund managers. Fund and stock-specific factors and the upshot for investors
Andreu, L., Ortiz, C., and Sarto, J.L. — 176, 253–268.
5
Socio-Economic Planning Sciences
How does risk transference to private partner impact on public-private partnerships’ success? Empirical evidence from developing economies
Fleta-Asín, J., and Munoz, F. — 72, 100869.
6
Public Management Review
Public-private partnerships: Determinants of the type of governance structure
Fleta-Asín, J., Muñoz, F., and Rosell-Martínez, J. — 22(10), 1489–1514.
7
Finance Research Letters
A neural approach to the value investing tool F-score
Gimeno, R., Loban, L., and Vicente, L. — 37, 101367.
8
International Review of Financial Analysis
Eurozone regulation bias in the active share measure
Lobán, L., Sarto, J.L., and Vicente, L. — 72, 101564.
9
Corporate Social Responsibility and Environmental Management
How do the size and independence of the board of trustees affect the financial and sustainable performance of socially responsible mutual funds?
Muñoz, F. — 27(4), 1834–1850.
10
Social Indicators Research
Managing for stakeholders using multiple-criteria decision-making techniques
Serrano Cinca, C., Fuertes Callén, Y., and Cuéllar Fernández, B. — 157, 581–601.
2019
9 publications
1
Business Strategy and the Environment
Corporate sustainability and institutional shareholders: The pressure of social responsible pension funds on environmental firm practices
Alda, M. — 28(6), 1060–1071.
2
International Review of Economics and Finance
Risk shifting consequences depending on manager characteristics
Andreu, L., Sarto, J.L., and Serrano, M. — 62, 131–152.
3
European Journal of Operational Research
Efficiency of mutual fund managers: A slacks-based manager efficiency index
Andreu, L., Serrano, M., and Vicente, L. — 273, 1180–1193.
4
Journal of Business Economics and Management
Inter-relationship between firm growth and profitability in a context of economic crisis
Fuertes Callén, Y., and Cuéllar Fernández, B. — 20(1), 86–106.
5
Emerging Markets Finance and Trade
Mutual fund voluntary portfolio disclosure
Gimeno, R., Ortiz, C., and Sarto, J.L. — 57, 1474–1488.
6
International Journal of Information Management
20 years of research in microfinance: An information management approach
Gutiérrez-Nieto, B., and Serrano-Cinca, C. — 47, 183–197.
7
International Review of Economics and Finance
The ‘smart money effect’ among socially responsible mutual fund investors
Muñoz, F. — 62, 160–179.
8
European Management Journal
The use of accounting anomalies indicators to predict business failure
Serrano-Cinca, C., Gutiérrez-Nieto, B., and Bernate-Valbuena, M. — 37(3), 353–375.
9
Online Information Review
What municipal websites supply and citizens demand: a search engine optimisation approach
Serrano-Cinca, C., and Muñoz-Soro, J.F. — 43(1), 7–28.
2018
8 publications
1
Journal of Pension Economics and Finance
Do the most skillful managers herd?
Alda, M. — 17(4), 488–512.
2
The European Journal of Finance
Pension fund manager skills over the economic cycle: the (non-) specialization cost
Alda, M. — 24(1), 36–58.
3
Journal of Business Research
A strategic fund family business decision: The pension fund liquidation
Alda, M. — 91, 248–265.
4
International Review of Economics and Finance
Mutual fund performance attribution and market timing using portfolio holdings
Andreu, L., Matallín, J.C., and Sarto, J.L. — 57, 353–370.
5
International Review of Financial Analysis
Paper profits or real money? Trading costs and stock market anomalies in country ETFs
Andreu, L., and Zaremba, A. — 56, 181–192.
6
Journal of Empirical Finance
Hindsight effect: What are the actual cash flow timing skills of mutual fund investors?
Muñoz, F., and Vicente, R. — 45, 181–193.
7
Social Science Quarterly
A multivariate study of internet use and the digital divide
Serrano-Cinca, C., Muñoz-Soro, J.F., and Brusca, I. — 99(4), 1409–1425.
2017
9 publications
1
Spanish Journal of Finance and Accounting
The importance of domestic equity pension funds on stock market
Alda, M., and Marco, I. — 46, 227–248.
2
The North American Journal of Economics and Finance
Learning about individual managers’ performance in UK pension funds: The importance of specialization
Alda, M., Andreu, L., and Sarto, J.L. — 42, 654–667.
3
International Review of Financial Analysis
The relationship between pension funds and the stock market: Does the aging population of Europe affect it?
Alda, M. — 49, 83–97.
4
International Review of Finance
The value added by trading based on valuation criteria
Andreu, L., Mateos, L., and Sarto, J.L. — 17, 327–352.
5
Journal of Business Research
Choosing two business degrees versus choosing one: What does it tell about mutual fund managers’ investment behavior?
Andreu, L., and Puetz, A. — 75, 138–146.
6
Applied Economics Letters
Determinants of contract duration in outsourced services in the defense sector
Fleta-Asín, J., and Muñoz, F. — 24(19), 1408–1411.
7
Social Indicators Research
The poverty penalty and microcredit
Gutiérrez-Nieto, B., Serrano, C., Cuéllar, B., and Fuertes, Y. — 133(2), 455–475.
8
International Journal of Consumer Studies
A multivariate study of over-indebtedness’ causes and consequences
Gutiérrez-Nieto, B., Serrano-Cinca, C., and de la Cuesta-González, M. — 41(2), 188–198.
9
Omega – International Journal of Management Science
The efficiency of mutual fund companies: Evidence from an innovative network SBM approach
Sánchez-González, C.A., Sarto, J.L., and Vicente, L. — 71, 114–128.
2016
10 publications
1
Journal of Behavioral Finance
Pension fund herding and the influence of management style
Alda, M., and Ferruz, L. — 17(2), 144–156.
2
European Journal of Finance
Financial consequences of mutual fund mergers
Andreu, L., and Sarto, J.L. — 22(7), 529–550.
3
Applied Economics
Determinants of margin in microfinance institutions
Cuéllar, B., Fuertes, Y., Serrano, C., and Gutiérrez-Nieto, B. — 48(4), 300–311.
4
Journal of Business Ethics
A credit score system for socially responsible lending
Gutiérrez-Nieto, B., Serrano-Cinca, C., and Camón-Cala, J. — 133, 691–701.
5
International Review of Economics and Finance
Optimal allocation of government bond funds through the business cycle. Is money smart?
Laborda, R., and Muñoz, F. — 45, 46–67.
6
International Review of Financial Analysis
Cash flow timing skills of socially responsible mutual fund investors
Muñoz, F. — 48, 110–124.
7
Decision Support Systems
The use of profit scoring as an alternative to credit scoring systems in peer-to-peer (P2P) lending
Serrano-Cinca, C., and Gutiérrez-Nieto, B. — 89, 113–122.
8
Journal of Cleaner Production
A social and environmental approach to microfinance credit scoring
Serrano-Cinca, C., Gutiérrez-Nieto, B., and Reyes, N.M. — 112, 3504–3513.