Dr. Paula Beatriz Morales Bañuelos | Applied Mathematics | Best Paper Award

Academic and researcher at Universidad Iberoamericana, Mexico city, Mexico

Dr. Paula Beatriz Morales Bañuelos is a distinguished Mexican academic specializing in finance and engineering. She holds a Master’s in Engineering from Universidad Iberoamericana, Mexico City, and a Doctorate in Business Administration and Management from Universidad Politécnica de Valencia, Spain, where she graduated with Cum Laude honors. Her doctoral research focused on credit spread determination using structural and mixed models in emerging economies, particularly Mexico. Dr. Morales Bañuelos has also earned multiple master’s degrees from the Instituto Tecnológico Autónomo de México (ITAM), each with honors, covering Economic Theory, Administration, and Finance. Professionally, she serves as a Full-Time Professor in the Department of Business Studies at Universidad Iberoamericana, where she has held various leadership roles, including coordinating bachelor’s programs and technical university programs. Her research contributions are notable, with publications in international peer-reviewed journals addressing topics such as option pricing models and credit risk assessment. Dr. Morales Bañuelos’s extensive academic background and research endeavors have significantly advanced financial modeling and analysis.

Professional Profile 

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Education

Paula Beatriz Morales Bañuelos has an extensive academic background in finance and engineering. She earned a Bachelor’s degree in Public Accounting from the Instituto Tecnológico Autónomo de México (ITAM), followed by three Master’s degrees from the same institution: in Finance, Administration, and Economic Theory. She further pursued a Master of Science in Engineering at the Universidad Iberoamericana in Mexico City, where she focused her thesis on “Pricing Options with the Modified BSM Model.” Recently, she completed her Doctorate in Business Administration and Management at the Universidad Politécnica de Valencia, Spain, graduating with Cum Laude honors. Her doctoral research centered on “Setting the Credit Spread Using Structural and Mixed Models,” with an empirical application in the Mexican context. This diverse educational journey underscores her deep expertise in financial modeling and her commitment to advancing knowledge in her field.

Professional Experience

Paula Beatriz Morales Bañuelos is a distinguished academic and professional in finance and accounting. She has held significant roles at the Universidad Iberoamericana in Mexico City, including Coordinator of Bachelor’s Degrees in Accounting and Business Management/Accounting and Business Direction from November 2021 to February 2023, and Full-Time Professor in the Department of Business Studies since November 2016. In these positions, she has been instrumental in curriculum development, notably redesigning the finance program implemented in August 2021. Prior to her tenure at Universidad Iberoamericana, Morales Bañuelos served at the Instituto Tecnológico Autónomo de México (ITAM) as a Full-Time Professor in the Department of Accounting from August 1996 to May 2016. She also held leadership roles at ITAM, including Director of the Public Accounting and Financial Strategy Program and Head of the Department of Accounting. Her professional journey began at KPMG, where she worked as a Junior Advisor in the Tax Advisory Area from January 1994 to July 1996. Throughout her career, Morales Bañuelos has demonstrated a commitment to advancing financial education and practice in Mexico.

Research Interest

Paula Beatriz Morales Bañuelos’s research interests are deeply rooted in financial mathematics, with a particular focus on option pricing models and credit risk assessment. Her work on modifying the Black-Scholes-Merton model aims to enhance its applicability in markets where traditional assumptions may not hold, reflecting her commitment to advancing option pricing theory. Additionally, she has explored the determination of credit spreads using structural and mixed models, applying her findings to emerging economies like Mexico. Beyond these areas, Morales Bañuelos has investigated the inclusion of socially irresponsible companies in sustainable stock indices, contributing to the discourse on corporate social responsibility and ethical investing. Her diverse research portfolio underscores a dedication to both theoretical advancements and practical applications in finance, particularly within the context of emerging markets.

Award and Honor

Paula Beatriz Morales Bañuelos has been recognized for her significant contributions to finance and business administration. In November 2017, she received an Honorable Mention in the National IMEF Award for her work titled “Analysis of Financial Valuation Models for Determining the Fair Value of Companies in Emerging Markets.” Earlier, in November 2005, she secured Second Place in the same award for her study on the “Incorporation of Uncertainty in Financial Statements.” Additionally, since January 2021, Paula has been a Candidate for Researcher, a distinction granted by the National System of Researchers (SNI) of CONAHCYT, acknowledging her ongoing commitment to research excellence.

Conclusion

Paula Beatriz Morales Bañuelos’s research critically examines the efficacy of traditional financial models in emerging markets, with a particular focus on option pricing and credit spread determination. In her study titled “A Modified Black-Scholes-Merton Model for Option Pricing,” she introduces a model inspired by conformable calculus, aiming to provide greater flexibility for markets where the standard Black-Scholes-Merton model may not be as effective. Additionally, her work on “Default Probabilities and the Credit Spread of Mexican Companies: The Modified Merton Model” evaluates various models to identify the one that best approximates the credit spreads for Mexican non-financial companies. Her findings suggest that the modified Merton model offers a closer approximation to the credit spreads applied to loans in the Mexican context. Through these contributions, Morales Bañuelos enhances the understanding of financial modeling in emerging economies, addressing the limitations of traditional models and proposing modifications to improve their applicability.

Publications Top Noted

• Title: “The Inclusion of Socially Irresponsible Companies in Sustainable Stock Indices”

  • Authors: Iván Arribas, María Dolores Espinós-Vañó, Fernando García, Paula Beatriz Morales-Bañuelos
  • Year: 2019
  • Citations: 55

• Title: “A Modified Black-Scholes-Merton Model for Option Pricing”

  • Authors: Paula Morales-Bañuelos, N. Muriel, G. Fernández-Anaya
  • Year: 2022
  • Citations: 22

• Title: “Fijación del precio de una opción financiera mediante el modelo del Black Scholes Merton modificado”

  • Authors: Paula Beatriz Morales Bañuelos
  • Year: 2024
  • Source: Universidad Iberoamericana Ciudad de México, Departamento de Estudios en …

• Title: “Default Probabilities and the Credit Spread of Mexican Companies: The Modified Merton Model”

  • Authors: Paula Morales-Bañuelos, Guillermo Fernández-Anaya
  • Year: 2023
  • Source: Mathematics, Volume 11, Issue 20, Article 4397

• Title: “Default Probabilities and the Credit Spread, Modified Merton model, Mexican Case”

  • Authors: Paula Morales-Bañuelos, Guillermo Fernández-Anaya
  • Year: 2023
  • Source: Preprints

• Title: “Selecting the model with the best fair value estimate in an emerging market”

  • Authors: Paula Morales Bañuelos
  • Year: 2020
  • Source: Revista Mexicana de Economía y Finanzas, Volume 15, Issue 1, Pages 81-103

• Title: “Análisis de la evasión fiscal proveniente del mercado informal mediante opciones reales y teoría de juegos”

  • Authors: Jorge Smeke Zwaiman, Paula Beatriz Morales Bañuelos, Luis Huerta García
  • Year: 2018
  • Source: [Specific publication details not provided]

• Title: “Fijación del diferencial de crédito mediante modelos Estructurales y Mixtos. Aplicación empírica en una economía emergente: el caso mexicano”

  • Authors: Paula Beatriz Morales Bañuelos
  • Year: [Year not specified]
  • Source: Universitat Politècnica de València

• Title: “Costos Gerenciales”

  • Authors: Luis Huerta García, Jorge Smeke Zwaiman, Paula Morales Bañuelos
  • Year: 2018
  • Citations: 8

• Title: “Eficiencia Recaudatoria: Definición, Estimación e Incidencia en la Evasión”

  • Authors: R. Samaniego Breach, Paula Morales Bañuelos, H. Bettinger
  • Year: 2009
  • Citations: 7

• Title: “Selección del Modelo de Mejor Estimación del Valor Razonable en un Mercado Emergente”

  • Author: Paula Morales Bañuelos
  • Year: 2020
  • Citations: 4