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  • Key principles for attractive and sustainable academic careers: final report of the EUA task-and-finish group on academic careers
    Publication . Popović, Ivanka; Beck-Schimmer, Beatrice; Hanenberg, Peter; Johansen, Finn-Eirik; Lequy, Anne; Lesauskaitė, Vaiva; Lettevall, Rebecka; Samper, Pastora Martínez; Matušíková, Ildikó; Raith, Manuela; Suominen, Kalle-Antti; Vandevelde, Karen
    Academic careers have always been competitive, but Europe’s higher education sector now faces numerous challenges such as demographic shifts and funding cuts, precarious contracts and working conditions. As European higher education institutions navigate this evolving landscape, this publication presents five key principles for their efforts to ensure that academic careers remain attractive and sustainable in the long term. They address: 1) the role of professional development, rewards and recognition in shaping careers; 2) the need for academic careers to reflect the diversity and inclusivity of higher education in Europe; 3) the vital role of the institution as a space that balances competition and collegiality; 4) the role and needs of early-career academics as the most vulnerable group of academics; and 5) the links between academic careers and the societal embeddedness of higher education. Although they may also serve as inspiration to policy makers, the key principles primarily aim to support higher education leadership and staff in reflecting on their own policies and practices in academic career management. As such, EUA calls on leaders within its large membership of European universities, and indeed across the wider higher education sector, to support the dissemination of these principles throughout their institutions. The development of this publication was guided by a dedicated EUA Task-and-Finish Group on Academic Careers, established in early 2024. This followed the Association highlighting the reform of academic careers as a priority for action in its vision for 2030, ‘Universities without walls’.
    2025-05-27Report Open access Show more
  • Volatility-managed portfolios : insights from 153 factors in global markets
    Publication . Ferreira, Gonçalo Nabais de Magalhães Morgado; Faias, José
    This Dissertation investigates the impact of volatility-managed portfolios across a set of 153 factors and 13 themes, segmented by Developed and Emerging markets. I demonstrate that dynamically adjusting portfolio risk in response to volatility enhances alpha, sharpe ratio, and mean-variance utility. This analysis demonstrates that volatility timing improves the perfor- mance of not only well-known factors like value, momentum, and profitability but also the vast majority of the 153 factors examined, across all countries and regions tested. This analysis aligns with the findings of Volatility-Managed Portfolios by Moreira and Muir (2017), challenging risk-based models and structural assumptions of time-varying expected returns. It shows how managed portfolios that take a cautious approach during high-volatility periods can have a real edge, providing practical insights for investors in both Developed and Emerging Markets who want to get the most out of factor-based strategies. However, as per the findings of Cederburg et al. (2020), the out-of-sample (OOS) results for these strategies are not as strong as one might expect based on the in-sample analysis.
    2025-05-27Master thesis Open access Show more