Lara Bulcão, Luís Ribeiro, Pedro Arsénio and Maria Manuela Abreu
The evolution of the concept of landscape to incorporate components like cultural and socio‐economic factors, in addition to the natural and aesthetic features, influenced the…
Abstract
The evolution of the concept of landscape to incorporate components like cultural and socio‐economic factors, in addition to the natural and aesthetic features, influenced the perception of landscape as a resource. On the other hand, the relationships between territorial features as well as the understanding of their temporal dynamics determine the significance of these features for the quality of a landscape and, consequently, for its conservation. This implies that all components – natural and physical, but also cultural and visual – upon which landscape quality is assessed, ought to be considered and studied globally. Natural resources and cultural heritage, however, are usually considered independently when developing protected areas management plans. Here, we present a methodology developed for the Monte da Guia management plan, which allows the interrelated analysis of landscape factors such as geology, geomorphology, pedology, flora and vegetation cover as well as the cultural and visual characters. Using the concepts of biophysical sensitivity and visual quality, we evaluated the relevance of these various factors for the determination of the state of equilibrium/degradation of a landscape, and hence for its conservation value. This methodology may contribute to the development of improved zoning maps and management guidelines determining land use and management strategies for the conservation of individual resources that, together, determine landscape quality.
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Maria Elisabete Neves, Mário Abreu Pinto, Carla Manuela de Assunção Fernandes and Elisabete Fátima Simões Vieira
This study aims to analyze the returns obtained from companies with strong growth potential (growth stocks) and the returns from companies with quite low stock prices, but with…
Abstract
Purpose
This study aims to analyze the returns obtained from companies with strong growth potential (growth stocks) and the returns from companies with quite low stock prices, but with high value (value stocks).
Design/methodology/approach
The sample comprises monthly data, from January 2002 to December 2016, from seven countries, Germany, France, Switzerland, the UK, Portugal, the USA and Japan. The authors have used linear regression models for three different periods, the pre-crisis, subprime crisis and post-crisis period.
Findings
The results point out that the performance of value and growth stocks differs from different periods surrounding the global financial crisis. In fact, for six countries, value stocks outperformed growth stocks in the period that precedes the subprime crisis and during the crisis, this tendency remained only for France, Portugal and Japan. This trend changed in the period following the crisis. The results also show that investor sentiment has a robust significance in value and growth stock returns, mostly in the period before the crisis, highlighting that the investor sentiment is more significant in the moments that the value stocks outperformed.
Originality/value
As far as the authors know, this is the first work that, taking into account the future research lines of Capaul et al. (1993), investigates whether the results obtained by those authors remain current, meeting the authors’ challenge and covering the gap of recent studies on the performance of value and growth stocks. Besides, the authors have introduced a new country, heavily punished by both the global financial crisis and the sovereign debt crisis to understand whether there are significant differences in investment styles and whether this is related to the different economies. Also, in this context, the authors were pioneers in adding investor sentiment as an exogenous variable in the influence of stock returns.
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Ricardo Correia, Manuela Cunha, Aida Carvalho and Bruno Sousa
This study aims to assess the online presence of three Portuguese low-density territories and analyze the communication strategies employed by public and private entities within…
Abstract
Purpose
This study aims to assess the online presence of three Portuguese low-density territories and analyze the communication strategies employed by public and private entities within each municipality. The alignment between public and private entities within each municipality is also examined as a potential factor that could impact the effectiveness of digital communication strategies.
Design/methodology/approach
A qualitative methodology that employed content analysis and interviews to gather data from selected public and private entities in each of the municipalities under study was used.
Findings
Despite the widespread availability of digital communication tools, the municipalities under study are yet to fully exploit their potential to promote and publicize their offerings. This could be attributed to several factors such as a lack of knowledge and/or resources and a defective strategic approach to digital communication.
Practical implications
The major obstacle in maximizing the potential of digital communication tools in low-density destinations was not solely a result of restricted access. Rather, it was largely due to insufficient knowledge and resources required for their effective utilization, coupled with a lack of aligned vision among various stakeholders.
Originality/value
The competitive landscape in which tourist actors operate has transformed significantly because of the widespread adoption of digital communication led by social networks. However, studies exploring digital communication in low-density territories are still scarce. This study adds new insights into the main factors that hinder the efficient use of digital communication in these regions.