Vítor Manuel de Sousa Gabriel, Maria Elisabete Duarte Neves, Elisabete Vieira and Pedro M. Nogueira Reis
The purpose of this work is to study the connections generated between stock market indices, representing firms whose practices focus on fighting climate change and several global…
Abstract
Purpose
The purpose of this work is to study the connections generated between stock market indices, representing firms whose practices focus on fighting climate change and several global risk factors in accordance with the sustainability objectives defined in the 2030 Agenda. An endogenous perspective is adopted, considering the spillovers generated within the low carbon stock market sector, as well as the latter’s exposure to exogenous shocks of an economic and financial nature.
Design/methodology/approach
This work uses a multivariate model of dynamic correlation (GARCH-corrected dynamic conditional correlation [cDCC]), which can accompany the correlations generated over time.
Findings
Considering five low carbon indices, representing various parts of the world, and four global macro-economic and financial variables, over a period of approximately eight years, it was possible to understand that the variables studied transmit between each other a statistically significant spillover. The period of the pandemic crisis shows a sharp increase in the information transmission process. It was also possible to conclude that some global variables are risk factors, performing the role of transmission channels for the spillover effects to low carbon indices, increasing the risk of contagion and reducing the possibilities of diversifying the investment portfolio.
Originality/value
Firstly, this work analyses the connection and spillover effects between low carbon indices. Secondly, considers an extended sample covering different market phases, particularly that of the pandemic crisis and the Ukrainian War, creating conditions to compare connection patterns between those indices. Thirdly, it studies the variable influence over time of global risk factors in the transmission of spillover between low carbon indices.
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Francisco Gaetani, Pedro Palotti and Roberto Pires
The objective of this chapter is to describe and analyze Brazil's main steps in its long and incomplete process of organizing a professional and responsive public service. During…
Abstract
The objective of this chapter is to describe and analyze Brazil's main steps in its long and incomplete process of organizing a professional and responsive public service. During the twentieth century, Brazil had two authoritarian regimes and organized a state-oriented process of industrialization. After 1988, democracy has changed how public administration should be constituted, imposing demands for universal recruitment and accountability. The level of professionalization of the federal public service was improved, with a higher level of education, better wages and the recruitment of public servants to management positions. The challenges ahead are improving governance and executive coordination and raising the responsiveness and quality of public management (such as human resources, planning, budgeting, procurement, information and communication technologies, and organizational modeling) in a context of political instability, slow economic recovery, and substantial public debts at the federal government.
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Pedro Manuel Nogueira Reis and Carlos Pinho
Purpose: This work provides an empirical analysis of investor behaviour's simultaneous influence due to the surprise effect caused by COVID-19 cases and government responses to…
Abstract
Purpose: This work provides an empirical analysis of investor behaviour's simultaneous influence due to the surprise effect caused by COVID-19 cases and government responses to market risk. This analysis compares tourism assets risk with other sectors and different types of investors' assets and categories in Europe.
Design: The paper applies an ARIMA with a GARCH model to predict conditional volatility of models for market uncertainty. Nonlinear models, factor analysis and time series linear regression for stationary variables in first differences are applied to predict market uncertainty.
Findings: We demonstrate that market risk does not arise from COVID-19 cases but instead from the surprise effect, as the market accurately predicts future cases. Only the volatility of the sectors Travel, Airline, and Utility are influenced by both surprise effect and government response, but only the travel sector reveals an interaction effect with both government response effort and surprise effect.
Originality: The article mutually studies the simultaneous interactions among investor behaviour due to the surprised effect caused by COVID-19 and government responses to the pandemic and the influence on professional investors' volatility in two asset types and between different sectors.
Practical implications: With this model and results, investors and financial service providers may verify whether or not government intervention during pandemic periods is effective in reducing uncertainty and risk levels on sectors, types of investors and different sorts of assets.
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João Pedro Ferreira, Pedro Nogueira Ramos, Luís Cruz, Eduardo Barata and Michael Lahr
The purpose of this paper is to offer an insight into the fundamental changes taking place in Port wine production value chains. Specifically, the authors examine two distinct…
Abstract
Purpose
The purpose of this paper is to offer an insight into the fundamental changes taking place in Port wine production value chains. Specifically, the authors examine two distinct production regimes: when Port is aged and sold in the Greater Oporto and, alternatively, when it is produced, aged and sold in Douro.
Design/methodology/approach
The authors apply a tri-regional input–output model (Douro, Greater Oporto and rest of the country) for Portugal’s economy. This framework comprises a significant level of detail, with 431 products and 136 industries, the corresponding supply and demand for the products, by industry (for intermediate consumption) and final demand.
Findings
This study shows that the two regimes generate noteworthy, but quite heterogeneous, regional impacts. In both cases, the distribution of value added generates international and interregional trade flows. Moreover, the study reveals a greater capacity to capture national value added by getting the supply chain more intensive in localised services and by using state-of-the-art production techniques.
Originality/value
Using detailed regional data, the authors use disaggregated information, both for industries as well for territories, overcoming a common limitation in similar works that are grounded in international databases. Additionally, the approach integrates the trade interactions among industries and regions, which proves essential to uncovering spillovers resulting from the (direct and indirect) use of inputs from other regions and other countries.
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Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some…
Abstract
Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.
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Bianca Sousa and Pedro Ferreira
Through a systematic literature review, this paper aims to endeavor to present a thorough historical perspective on the evolution of employee-based brand equity (EBBE), offering a…
Abstract
Purpose
Through a systematic literature review, this paper aims to endeavor to present a thorough historical perspective on the evolution of employee-based brand equity (EBBE), offering a comprehensive understanding of its development. The study explores the general model, causes and effects of EBBE, as well as the role of culture, leadership and brand management in building EBBE. The paper proposes an integrative framework to understand the interrelationships between the various dimensions of EBBE and offers practical guidelines for future research and the business world.
Design/methodology/approach
The paper uses a systematic literature review approach to analyze and synthesize 30 studies on EBBE retrieved from SCOPUS and Web of Science. The analysis involves a thematic and content-based examination of the literature, which is organized into three thematic groups.
Findings
The review highlights the importance of EBBE as a driver of organizational performance and success. The paper identifies the evolution of the major themes, trends and debates in the literature and suggests areas for future research. It underscores the need for more qualitative, multi-level and longitudinal research on EBBE, as well as the exploration of the links between EBBE and other forms of brand equity.
Originality/value
This paper is one of the first systematic literature reviews of EBBE, offering a comprehensive and integrated view of the existing literature since the beginning of this concept. The paper’s originality lies in its proposed integrative framework that captures the interrelationships between the various dimensions of EBBE and provides practical guidelines for future research and the business world.
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Gláucya Daú, Annibal Scavarda, Maria Teresa Rosa Alves, Ricardo Santa and Mario Ferrer
Population worldwide has experienced several challenges related to sustainable development, such as scarcity of natural resource, unsustainable consumption, poverty, injustice…
Abstract
Purpose
Population worldwide has experienced several challenges related to sustainable development, such as scarcity of natural resource, unsustainable consumption, poverty, injustice, violence, social inequality and natural disaster (including floods, tsunami and landslide). These issues interfere in sustainable development and target to achieve societal balance, structuring without compromising economic and environmental resources of future generations. The higher educational institutions are included in this context because they play a role in professional training and in education to promote sustainable practices. The higher educational institutions can assume a prominent position in the 2030 Agenda implementation for sustainable development of the United Nations, especially in the Goals 4 and 10, quality education and reduced inequalities, respectively. The purpose of this research study aims to develop a literature review and analyze the higher educational and sustainable themes, involving the Brazilian scenario.
Design/methodology/approach
This research study develops a literature review based on researches that involve higher educational and sustainable themes in the Brazilian scenario. Inclusion criteria are papers in English, with the search equations in their titles, and peer-reviewed papers. Paper publication year was not an exclusion criterion. This research aimed to understand opportunity and challenge processes in the Brazilian higher educational institutions and their actions, so that the Sustainable Development Goals are completely achieved and the 2030 Agenda for sustainable development is fulfilled. For this, a research central question was established: What are the opportunities and the challenges to achieve the 2030 Agenda for sustainable development in the Brazilian higher education?
Findings
A total of 636 papers were recovered. The “Higher Education AND Opportunities,” “Higher Education AND Challenge,” “Higher Education AND Challenges,” “Higher Education AND Opportunity,” “Brazilian AND Higher Education” and “Brazil AND Higher Education” search equations found, respectively, 165, 146, 131, 74, 62 and 25 papers, involving 94.8% of the total number of the papers found. The papers recovered enabled the vision of five clusters: policy; inclusion; culture; relationship; and environment, society and economy. The paper analyses found that innovation process, sustainable practical implementation and holistic look, involving professors and students, can allow the 2030 Agenda achievement.
Originality/value
The authors of this research study presented a framework based on the literature analyzed through five clusters: policy; inclusion; culture; relationship; and environment, society and economy, considered from opportunity and challenge perspectives. The authors introduced and discussed the Brazilian higher educations and their opportunities and challenges. The Brazilian panorama was linked with the 2030 Agenda for sustainable development, in specific, with the Goals 4 and 10. Implications of this research study are related to the higher educational opportunities and challenges in policy, inclusive, cultural, sustainable and relationship contexts, involving governmental and nongovernmental sectors, professors and students for the Brazilian educational improvement.
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Luis Enrique Aguilar, Eliacir Neves França and Ana Elisa Spaolonzi Queiroz Assis
This chapter presents a discussion on the development of the Brazilian education system. In the introduction, we resume the local and regional contexts and their relation to the…
Abstract
This chapter presents a discussion on the development of the Brazilian education system. In the introduction, we resume the local and regional contexts and their relation to the global scenario using a historical-temporal perspective, focusing on the peculiarities of our political and democratic profile, Brazilian educational public policies, economy and social system. We descriptively reconstructed the beginnings of formal education: missionary and colonial education, independence and post-independence expansion. We point out the objectives of education, its organization, administration, structure, operation and its interfaces with the policies on curriculum, evaluation and funding. The discussion of these policies shows their impacts on the education of teachers and students, as well as the relation between education and work in the context of an approach of cycles and the neoliberal perspective. Beyond this, under the perspective of contextual influences, we have identified and described how OECD contributed to incorporate the analysis of comparative development indexes through which it is possible to re-discuss education quality, equity and other aspects. The understanding of all concepts used was broadened by a reformulation, not only due to the effects of the pandemic but also by a profound political and economic crisis that points toward an unprecedented historic setback in the democratic context.
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Maria Elisabete Duarte Neves, Sofia Reis, Pedro Reis and António Gomes Dias
This paper aims to analyze the impact of the adoption of ISO 14001 and ISO 9001 on the performance of Portuguese companies. The sample includes the companies listed on Euronext…
Abstract
Purpose
This paper aims to analyze the impact of the adoption of ISO 14001 and ISO 9001 on the performance of Portuguese companies. The sample includes the companies listed on Euronext Lisbon, with economic, financial and specific information – the specific being environmental information and quality information – for the period between 2015 and 2019, which corresponds to the post-Troika period when some economic growth started to be witnessed. The specific information of each area is translated into the environmental certification by the ISO 14001 standard, the quality certification by the ISO 9001 standard, and sustainability reports.
Design/methodology/approach
To achieve this aim, four variables were used as a measure of the companies' performance, Return on Assets (ROA), Return on Equity (ROE); Tobin's Q and EBITDA Margin. With this data, different panel models were tested to validate if ISO 9001 and ISO 14001 certifications impact Portuguese listed companies performance. Specifically, the authors have used the Generalized Method of Moments, GMM-System, an estimation method proposed by Arellano and Bover (1995) and Blundell and Bond (1998).
Findings
The results show that, in general, the environment and quality variables fail to explain the dependent variables, that is, ISO certifications do not provide positive or negative variations in the performance of companies, suggesting that they are not yet as much for civil society, as well as for current or potential shareholders. When used as an independent variable, certification according to the ISO 14001 or 9001 standards, negative and significant oscillations were verified in the dependent variable, MgEBITDA, suggesting that only for managers this variable is determinant, but with a negative impact, given the high costs, it entails without pressure from other stakeholders.
Originality/value
This study is the first to analyze the impact of the adoption of ISO 14001 and ISO 9001 on Portuguese companies' performance. This empirical study aims to show all investors, managers, regulators and civil society itself the long path that still needs to be taken toward sustainability.