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Perfil investigador
Esp
Dr. José Antonio Climent Hernández

Associate Professor
Departament of Systems

Division of Basic Sciences and Engineering


Level 1
Member of the National System of Researchers
(SNII)

Social Sciences

Successful appointment to the 2026 National System of Researchers.


Azcapotzalco Campus

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Sustainable Development Goals

• 4 Quality Education

• 7 Affordable and Clean Energy


Research interests

• Financial engineering
• Option valuation
• Derivative and structured products
• Investment portfolios
• Financial risk management

Profile

Dr. José Antonio Climent Hernández is a member of the Statistics and Operations Research Area. He holds a Ph.D. in Economic Sciences (Finance) from the Instituto Politécnico Nacional (2013), a Master's degree in Engineering (Operations Research) with honors from the Universidad Nacional Autónoma de México (2004), and a Bachelor's degree in Actuarial Science from the same institution (2001).

His academic background integrates the areas of Probability, Statistics, Financial Engineering, Economic Engineering, Actuarial Science, and Operations Research, with solid training for developing models applied to decision-making and financial risk management.

His scientific career has been honored with the AECA 2026 International Award, the FIMEF-EY 2025 International Financial Research Award, the Best Paper Award at FIMEF 2024, The Best Empirical Research Paper Award from the American Academy of Financial Management Latin American Chapter (AAFMLAC) in 2018, the Arturo Díaz Alonso Research Award in Finance (2017), and the Lázaro Cárdenas Medal from the Instituto Politécnico Nacional (2014), the institution's highest academic distinction.

He has been an active member of the Sistema Nacional de Investigadores e Investigadoras (SNII) since 2016 and holds active PRODEP Desirable Profile status since 2015, reflecting a sustained trajectory in research, teaching, human resources development, and cultural dissemination and preservation.

He serves as a Full-Time Professor in the Statistics and Operations Research Area within the Department of Systems in the Division of Basic Sciences and Engineering at the Universidad Autónoma Metropolitana Unidad Azcapotzalco.

His research work is focused on developing probabilistic, statistical, and stochastic models for Financial Engineering and Decision Analysis, with emphasis on financial derivatives valuation, financial risk management, investment portfolios, structured products, and financial and energy market modeling through the statistical justification of $\alpha$-stable distributions and other models capable of representing leptokurtosis, asymmetry, and regime switching.His recent contributions include developing models for valuing European options on stocks, indices, currencies, commodities, and energy, incorporating advanced methodologies for quantifying and hedging financial risks. These research lines are developed within the Statistics and Operations Research Area and the Financial Markets and Institutions Research Group.

He has continuously taught over one hundred undergraduate courses and more than ten graduate courses in higher education institutions, notably: Financial Engineering, Decision Analysis, Operations Research, Cost Engineering, Probability and Statistics, Option Valuation, Financial Derivative Products, Financial Mathematics, Actuarial Mathematics of Personal Insurance, and graduate courses: Selected Topics in Computing, Financial Administration, Financial Foundations, Probability and Statistics, as well as in the Diploma in Pension Systems: Introduction to Demography and Actuarial Science, Coverage Extension, and Economic Factors Affecting Pensions.

His teaching activities have contributed to training professionals and researchers in Engineering, Computer Science, Business Administration, Health Sciences, Economic Sciences, Management, and Actuarial Science.

As a mentor, he has supervised over twenty undergraduate theses in Industrial Engineering, Civil Engineering, Computer Science, and Actuarial Science. His capstone projects encompass applications in industrial process improvement, systems engineering, forecasting, insurance, investment projects, and real options, integrating quantitative methodologies to solve problems in the productive and services sectors. Furthermore, he has participated in student development through institutional tutoring and academic advising programs.



Information provided by the academic staff

Research interests

• Financial engineering
• Option valuation
• Derivative and structured products
• Investment portfolios
• Financial risk management

Academic Work

On the following pages you can consult the research work:






Some examples of publications

Select the bibliographic reference to consult each publication:


Open Access References UN SDGs
OACliment Hernández, J.A., Rodríguez Benavides, D., Castillo Dieguez, R.Y. (2025).Financial Engineering and Optimal Portfolios with Regime Switching. Revista Mexicana de Economia y Finanzas Nueva Epoca,20(4)
Climent Hernández, J. A., Rodríguez Benavides, D., & Castillo Dieguez, R. Y. (2026). Nota estructurada con opciones americanas para estimar la probabilidad de incumplimiento. Contaduría Y Administración, 70(4), e531.1
Climent Hernández, J. A., Rodríguez Benavides, D., & Martínez Palacios, M. T. V. (2021). Producto estructurado para minimizar costos energéticos de producción sustituyendo petróleo por gas. Contaduría Y Administración, 67(1), e317.1
Climent Hernández, J. A., Sánchez Arzate, G. y Ortiz Ramírez, A. (2021). Portafolios α-estables del G20: Evidencia empírica con Markowitz, Tobin y CAPM. Mexicana de Economía y Finanzas Nueva Época REMEF (LATINDEX, CONACYT), 16(4): 1-28.1
Climent Hernández, J. A., & Rodríguez Benavides, D. (2020). Valuación de opciones sobre índices de la temperatura de la Ciudad de México. Contaduría Y Administración, 66(3), e268.1
Climent Hernández, J. A., & Gómez Pinto, I. (2020). Valuación de opciones con ajustes a distribuciones a-estables y contabilidad bajo la norma internacional de información financiera. Contaduría Y Administración, 66(2).1
OACliment Hernández, J. A., Hoyos Reyes, L. F., & Martínez Preece, M. R. (2018). Formulación de un modelo híbrido alfa-estable para mercados con operación de alta frecuencia. Contaduría Y Administración, 63(4), e58.
OACliment Hernández, J. A., Hoyos Reyes, L. F., & Rodríguez Benavides, D. (2017). The α-stable processes and their relationship with the exponent of self-similarity: Exchange rates of USA Dollar, Canadian Dollar, Euro and Yen. Contaduría Y Administración, 62(5), 1501–1522.
OACliment Hernández, J. A., & Cruz Matú, C. (2017). Pricing of a structured product on the SX5E when the uncertainty of returns is modeled as a log-stable process. Contaduría Y Administración, 62(4), 1160–1182.
OACliment Hernández, J. A. (2017). Portafolios de dispersión mínima con rendimientos log-estables. Revista Mexicana de Economía y Finanzas Nueva Época REMEF (LATINDEX, CONACYT), 12(2): 49-69.

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Courses taught by the professor in recent trimesters

*Courses are conducted in spanish

Num.Trim.Course NameLevel
1
26P
Análisis de Decisiones IILicenciatura
2
26P
Probabilidad y EstadísticaLicenciatura
3
26I
Ingeniería FinancieraLicenciatura
4
26I
Análisis de Decisiones ILicenciatura
5
25O
Probabilidad y EstadísticaLicenciatura
6
25O
Ingeniería de CostosLicenciatura
7
25O
Probabilidad y EstadísticaLicenciatura
8
25P
Análisis de Decisiones IILicenciatura
9
25P
Análisis de Decisiones ILicenciatura
10
25I
Ingeniería de CostosLicenciatura
11
25I
Investigación de Operaciones IILicenciatura
12
24O
Temas Selectos de Computación IPosgrado
13
24O
Análisis de Decisiones ILicenciatura
14
24O
Investigación de Operaciones IILicenciatura
15
24P
Ingeniería de CostosLicenciatura
16
24P
Análisis de Decisiones ILicenciatura
17
24I
Ingeniería de CostosLicenciatura
18
24I
Ingeniería FinancieraLicenciatura
19
23O
Ingeniería de CostosLicenciatura
20
23P
Ingeniería de CostosLicenciatura
21
23P
Probabilidad y EstadísticaLicenciatura
22
23I
Ingeniería FinancieraLicenciatura
23
23I
Probabilidad y EstadísticaLicenciatura
24
22O
Análisis de Decisiones ILicenciatura
25
22O
Probabilidad y EstadísticaLicenciatura
26
22P
Ingeniería de CostosLicenciatura
27
22P
Probabilidad y EstadísticaLicenciatura
28
22I
Ingeniería de CostosLicenciatura
29
22I
Ingeniería FinancieraLicenciatura
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Universidad Autónoma Metropolitana, 2026.