Peer-Reviewed Publications
My research lies at the intersection of AI, operational optimization, and strategic management, advancing data-driven decision-making in industrial contexts and assessing the financial impacts of sustainability and digital innovation. Although not exclusively, these contributions are frequently applied to the Blue Economy, where I have participated in several European, national, and regional projects.
Bibliometric Indicators: I have published 18 peer-reviewed articles in JCR-indexed journals, including 10 in Q1 (7 in the first decile), 7 in Q2, and 1 in Q4. Additional bibliometric information is available here.
1. – Machine Learning and Data-Driven Optimization for Operational Decision-Making
Advanced modelling, optimization, and AI techniques to improve operational decisions under uncertainty.
Luna, M., Perez-Mon, O., & Becker, J.L (2025). Forecasting and Managing Price Volatility in Salmon Production: a hybrid system using conformal prediction and dynamic hedging. International Journal of Production Economics.
https://doi.org/10.1016/j.ijpe.2025.109726
Luna, M., Fernandez-Vazquez, S., Castelao, E. T., & Fernández, Á. A. (2024). A blockchain-based approach to the challenges of EU’s environmental policy compliance in aquaculture: From traceability to fraud prevention. Marine Policy, 159, 105892.
https://doi.org/10.1016/j.marpol.2023.105892
Ibáñez, M., Luna, M., Bosque, J. L., & Beivide, R. (2023). Parallelisation of decision-making techniques in aquaculture enterprises. The Journal of Supercomputing, 79, 11827–11843.
https://doi.org/10.1007/s11227-023-05124-3
Luna, M., Llorente, I., & Cobo, A. (2022). Determination of feeding strategies in aquaculture farms using a multiple-criteria approach and genetic algorithms. Annals of Operations Research, 314(2), 551-576.
https://doi.org/10.1007/s10479-019-03227-w
Luna, M., Llorente, I., & Cobo, A. (2023). A fuzzy approach to decision‐making in sea‐cage aquaculture production. International Transactions in Operational Research, 30(4), 2000-2024.
https://doi.org/10.1111/itor.12866
Luna, M., Llorente, I. & Cobo, A. (2020). Aquaculture production optimization in multi-cage farms subject to commercial and operational constraints. Biosystems Engineering 196, 29-45.
https://doi.org/10.1016/j.biosystemseng.2020.05.012
Luna, M., Llorente, I. & Cobo, A. (2019). Integration of environmental sustainability and product quality criteria in the decision-making process for feeding strategies in Seabream aquaculture companies. Journal of Cleaner Production 217, 691-701.
hhttps://doi.org/10.1016/j.jclepro.2019.01.248
Cobo, Á., Llorente, I., Luna, L., & Luna, M. (2019). A decision support system for fish farming using particle swarm optimization. Computers and Electronics in Agriculture, 161, 121-130.
https://doi.org/10.1016/j.compag.2018.03.036
2. – Economic and Financial Analysis of Environmental and Technological Transformation Strategies
Examining firms’ adaptation, resilience, and value creation in the context of sustainability and digital innovation.
Rodriguez-Arrojo, R., Luna, M., Vazquez-Ordas, C., & García-Olalla, M. (2024). When real business meets the metaverse: assessing the financial impact of European firms’ virtual world innovations. Technology Analysis & Strategic Management, 1–15.
https://doi.org/10.1080/09537325.2024.2434485
León, O. Puente, F.J, Fernandez-Quesada, M.I., & Luna, M. (2025) Challenges in Transitioning from Industry 4.0 to Industry 5.0: A Multicriteria Analysis. Journal of Industrial Integration and Management-Innovation and Entrepreneurship. 10:01, 109-151
https://doi.org/10.1142/S2424862224500192
Rodríguez‐Arrojo, R., Luna, M., Vázquez‐Ordás, C. J., & García‐Olalla, M. (2024). Mapping research on corporate misconduct in banking: Lessons from literature on preventive and punitive actions. Global Policy, 15, 62-75.
https://doi.org/10.1111/1758-5899.13320
Luna, M., Llorente, I., & Luna, L. (2023). A conceptual framework for risk management in aquaculture. Marine Policy, 147, 105377.
https://doi.org/10.1016/j.marpol.2022.105377
Luna, M., García-Olalla, M., & Sánchez, J. L. F. (2021). How do investors value firms’ decisions on obtaining an eco-label? evidence from the fishing industry. Marine Resource Economics, 36(3), 211-228.
https://doi.org/10.1086/714519
García-Olalla, M., Luna, M (2021) Market reaction to supranational banking supervision in Europe: Do firm- and country-specific factors matter?. Empirica 48, 947–975
https://doi.org/10.1007/s10663-020-09493-3
Baraibar-Diez, E., Luna, M., Odriozola, M.D., and Llorente, I. (2020) Mapping Social Impact: A Bibliometric Analysis. Sustainability 12, 9389.
https://doi.org/10.3390/su12229389
Llorente, I., Fernández-Polanco, J., Baraibar-Diez, E., Odriozola, M.D., Bjørndal, T., Asche, F., Guillen, J., Avdelas, L., Nielsen, R., Cozzolino, M., Luna, M., Fernández-Sánchez, J.L., Luna, L., Aguilera, C., Basurco, B., (2020). Assessment of the economic performance of the seabream and seabass aquaculture industry in the European Union. Marine Policy, 117, 103876.
https://doi.org/10.1016/j.marpol.2020.103876
Fernández Sánchez, J. L., Odriozola Zamanillo, M. D., & Luna, M. (2020). How corporate governance mechanisms of banks have changed after the 2007–08 financial crisis. Global Policy, 11, 52-61.
https://doi.org/10.1111/1758-5899.12748
Manuel Luna García 