João Oliveira Soares is Associate Professor of Economics and Finance at I.S.T. – Technical University of Lisbon. He holds a PhD in Industrial Engineering and Management and the Habilitation in Management. His publications include books in Finance and Banking, and articles in journals like the European Journal of Finance, European Journal of Operational Research, Computers and Industrial Engineering, The Engineering Economist, European Research Studies, and Frontiers in Finance and Economics.Joaquim P. Pina is Assistant Professor of Economics and Management at Faculdade de Ciências e Tecnologia – Universidade Nova de Lisboa, and researcher at INOVA, Faculdade de Economia da Universidade Nova de Lisboa. Previously, he was senior economist at the Research Department of the Portuguese central bank. He holds a PhD in Economics from Universitat Pompeu Fabra, Barcelona. Major fields of interest include quantitative and applied macroeconomics, time series and finance. He has published in the domains of macroeconometrics, monetary economics and risk analysis.Margarida Catalão-Lopes is Assistant Professor of Economics and Finance at I.S.T. – Technical University of Lisbon, and researcher at the Centre for Management Studies. Prior to her current position she was senior economist and then chief economist in the Banking System Unit of the Research Department of the Portuguese central bank. She is co-author of the book “Mergers and Acquisitions: the Industrial Organization Perspective” (Kluwer Law International), and has published articles in banking, risk, firm mergers and regulation.