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Article
Publication date: 31 October 2023

Júlio Lobão and Sofia P. Baptista

This study aims to examine the deterrent effect of the Market Abuse Directive (MAD) introduced in the European Union in 2003. The purpose is to evaluate whether the Directive has…

393

Abstract

Purpose

This study aims to examine the deterrent effect of the Market Abuse Directive (MAD) introduced in the European Union in 2003. The purpose is to evaluate whether the Directive has resulted in significant changes in pre-bid stock price run-ups observed in mergers and acquisitions within the Portuguese, Spanish and Greek stock markets.

Design/methodology/approach

The study analyzes a sample of 199 mergers and acquisitions in the aforementioned stock markets. The magnitude of pre-bid stock price run-ups is investigated as an indicator of illegal insider trading. The effects of the MAD, toehold positions of bidders and industry similarity between firms involved in the deals are assessed using statistical analysis.

Findings

The study’s findings indicate that the MAD has been ineffective in deterring investors from trading on non-public information. Pre-announcement price run-ups remain significant, suggesting ongoing illegal insider trading practices. Additionally, the research reveals that pre-bid stock price run-ups tend to be lower when bidders have established a larger toehold position in the target and when the firms involved in the deal belong to the same industry.

Originality/value

This study contributes to the existing literature by providing empirical evidence on the ineffectiveness of the MAD in deterring illegal insider trading. The findings highlight the limitations of increasing penalties without an effective monitoring system in place. Furthermore, the study identifies additional factors, such as toehold positions and industry similarity, that influence the magnitude of pre-announcement price run-ups in mergers and acquisitions.

Details

Studies in Economics and Finance, vol. 40 no. 5
Type: Research Article
ISSN: 1086-7376

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Article
Publication date: 4 January 2019

Teresa Conceição, Mónica Baptista and João Pedro da Ponte

The purpose of this paper is to understand what physics and chemistry preservice teachers learn on the nature of the inquiry tasks and about classroom communication in an inquiry…

319

Abstract

Purpose

The purpose of this paper is to understand what physics and chemistry preservice teachers learn on the nature of the inquiry tasks and about classroom communication in an inquiry task when they take part in a lesson study.

Design/methodology/approach

This is a qualitative and interpretive research which was carried out within a master’s degree course in physics and chemistry teaching with three preservice teachers. Data were collected from participant observation with video recording, interviews, written reflections and group report by the preservice teachers. This two-cycle lesson study was conducted over 12 sessions. The data analysis took place through asking questions and using the constant comparison method, which allowed the identification of the most relevant issues about the preservice teachers learning according to the categories nature of the inquiry tasks and communication promoted by the teacher.

Findings

The results show that the preservice teachers learnt to identify the characteristics of inquiry tasks, how to develop an inquiry task when planning the research lesson and acknowledged its potential for student learning. Moreover, the preservice teachers acknowledged the fact that the classroom communication promoted by the teacher fostered student participation, negotiation of meanings about scientific concepts and construction of new learning that can be shared within the class.

Research limitations/implications

Research is needed as regards how initial teacher education providers may contribute to the learning of preservice teachers in lesson study in initial teacher education programmes.

Originality/value

This research contributes to show potentialities of lesson study in the initial teacher education of preservice physics and chemistry teachers.

Details

International Journal for Lesson and Learning Studies, vol. 8 no. 1
Type: Research Article
ISSN: 2046-8253

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Article
Publication date: 6 December 2021

Ana Sofia Ramos, Jonas Hammerschmidt, Antonio Sérgio Ribeiro, Francisco Lima and Sascha Kraus

The purpose of this longitudinal study is to examine the dual career and entrepreneurial experiences of professional football players and their influence on the career transition…

638

Abstract

Purpose

The purpose of this longitudinal study is to examine the dual career and entrepreneurial experiences of professional football players and their influence on the career transition process to entrepreneurship or employment.

Design/methodology/approach

The study examined a Portuguese employer–employee data set from 1991 to 2017 using the logit model, a binary choice regression model that allows predicting the probabilities of two possible qualitative and binary outcomes.

Findings

Entrepreneurial experience is the key driver for retired football players to pursue entrepreneurship. Having a dual career and working during the athletic career leads to higher chances of continuing in the labor market as an employee. Higher education levels did not significantly influence the decision to pursue a second career but having secondary education increases the chances of continuing as an entrepreneur.

Research limitations/implications

First, the study aims to shed light on success factors in career transition of professional football players who engage in a dual career. Second, the authors introduce sport entrepreneurship as a possible activity alongside an athletic career.

Practical implications

Athletes can benefit from the experience they gain during a dual career in the process of career transition. Working in the final year of an athletic career represents a promising strategy to gain work experience alongside sport without jeopardizing sporting success.

Originality/value

This study adds evidence to the contemporary discourse on dual career theory and career transitions and reconciles the theory of sport entrepreneurship and dual careers.

Details

International Journal of Sports Marketing and Sponsorship, vol. 23 no. 5
Type: Research Article
ISSN: 1464-6668

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Article
Publication date: 16 May 2022

Rubens do Amaral, Maria do Carmo de Lima Bezerra and Gustavo Macedo de Mello Baptista

Human actions on natural ecosystems have not only jeopardized human well-being but also threatened the existence of other species. On the other hand, the benefits resulting from a…

162

Abstract

Purpose

Human actions on natural ecosystems have not only jeopardized human well-being but also threatened the existence of other species. On the other hand, the benefits resulting from a greater integration between the logic of nature and human occupations have been seen as motivating factors for the prevention and mitigation of environmental impacts in landscape planning, since it provides human well-being through the grant of resources, regulation of the environment and socio-cultural services called ecosystem services. This article highlights the relevance of using ecosystem integrity indicators related to the functioning of ecological support processes for landscape planning.

Design/methodology/approach

The research used the photosynthetic performance of vegetation through carbon fluxes in the landscape, defining areas where different approaches to green infrastructure can be applied, gaining over the majority of work in this area, in which low degrees of objectivity on measurement and consequent ecological recovery still prevail. Thus, using the conceptual support of restoration ecology and remote sensing, the work identified different vegetation performances in relation to the supporting ecological processes using the multispectral CO2flux index, linked to the carbon flux to identify the photosynthetic effectiveness of the vegetation and the Topographic Wetness Index (TWI).

Findings

With a study in the Distrito Federal (DF), the results of the different performances of vegetation for ecological support, through electromagnetic signatures and associated vegetation formations, allowed for the identification of hotspots of greater integrity that indicate multifunctional areas to be preserved and critical areas that deserve planning actions using green infrastructure techniques for their restoration and integration into the landscape.

Originality/value

This approach could be the initial step towards establishing clear and assertive criteria for selecting areas with greater potential for the development of supporting ecological processes in the territorial mosaic.

Details

International Journal of Building Pathology and Adaptation, vol. 42 no. 2
Type: Research Article
ISSN: 2398-4708

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Article
Publication date: 12 December 2024

Gorete Fonseca and João Pedro da Ponte

The study aims to understand what learning is evidenced regarding knowledge about the teaching of mathematics by five primary teachers when they reflect on research lessons. To do…

7

Abstract

Purpose

The study aims to understand what learning is evidenced regarding knowledge about the teaching of mathematics by five primary teachers when they reflect on research lessons. To do so, we used situations from the formal and informal reflection sessions that took place after teaching four research lessons.

Design/methodology/approach

It is a qualitative and interpretative research. Data collection was done by participant observation with elaboration of a research journal, audio recording of sessions and a whole-group interview. Data analysis was made by content analysis based on the conceptual framework.

Findings

The study shows the relevance of carrying out successive research lessons, followed by moments of formal and informal reflection, leading to improvements in relation to the way the task is proposed to the pupils, the representations used and the monitoring and questioning carried out by the teacher in the various phases of the lesson.

Originality/value

In lesson study, very often, only one research lesson is held. This case shows the potential of successive research lessons, each of which is followed by moments of reflection, in promoting the development of teachers’ didactic knowledge, namely regarding teaching practice, providing a more in-depth look at the way pupils work on mathematical tasks and the role of the teacher in promoting learning. Reteaching proved to be a valuable strategy to support teachers’ reflections in order to improve the leading of pupils’ work.

Details

International Journal for Lesson & Learning Studies, vol. 14 no. 1
Type: Research Article
ISSN: 2046-8253

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Article
Publication date: 8 August 2023

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…

584

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.

Details

International Journal of Productivity and Performance Management, vol. 73 no. 5
Type: Research Article
ISSN: 1741-0401

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Article
Publication date: 31 March 2008

Hsiao‐Chi Chen and Ya‐Wen Yu

The purpose of this paper is to focus on selection of a location which can widely influence business strategy planning and operation profit.

4357

Abstract

Purpose

The purpose of this paper is to focus on selection of a location which can widely influence business strategy planning and operation profit.

Design/methodology/approach

In this paper, the relationship between location strategy and clustering is primarily shown by obtaining location decision criteria and the impact of high‐tech firms with the decision‐making trial and evaluation laboratory (DEMATEL) method. Then, analytic network process (ANP) method is used to explain the value and benefits from cluster location.

Findings

The authors study decision‐making for location selection of high‐tech firms in Hsinchu Science Park. The example is based on two dimensions including network effect and transaction cost. Network effect plays a more significant role than transaction cost for this example location selection of high‐tech firms in Hsinchu Science Park. The Science Park is surrounded by entrepreneurial spirit, a significant talent pool, and support infrastructure.

Originality/value

This paper explores how high‐tech managers make their decisions on location strategy in Science Park.

Research limitations/implications

The authors found that cost and benefit factors of network effect dominate the major decision‐making in selection of location and has direct impact on strategic intent. They also have shown that the DEMATEL and ANP approaches are valuable for evaluating this situation.

Details

Management Research News, vol. 31 no. 4
Type: Research Article
ISSN: 0140-9174

Keywords

Available. Open Access. Open Access
Article
Publication date: 16 May 2022

Alessandro Ramploud, Silvia Funghi and Maria Giuseppina Bartolini

The aim of this paper is to explore the rationale and findings of the implementation of a Chinese lesson study (CLS)-informed model of mathematics teacher education in Italian…

875

Abstract

Purpose

The aim of this paper is to explore the rationale and findings of the implementation of a Chinese lesson study (CLS)-informed model of mathematics teacher education in Italian schools. The study focuses on the modifications and invariance when introducing CLS in a different culture.

Design/methodology/approach

In a previous work (Bartolini Bussi et al., 2017), the authors focused on a single case of activity inspired by the CLS in Italy, and identified some conflicts emerging between the cultures of teaching in China and Italy and explored the way to overcome the conflicts. In the following years, the authors implemented lesson study (LS) experimentations with dozens of in-service primary school teachers and pre-service teachers who were gradually introduced to the model of CLS. The tensions/constraints occurred prominently when extending the experiments with many dozens of other in-service teachers and pre-service teachers.

Findings

The authors highlighted how the process of deconstruction allowed the participants in the study to either appropriate or reject some features of the CLS, linking this process to the cultural differences.

Practical implications

The authors believe and argue that LS, and CLS in particular, must be modified in the transfer from one culture to another, considering the cultural beliefs of the involved teachers.

Originality/value

The authors claim that the features of CLS compels the Western researchers to adopt local and culturally determined choices and to be aware of the rationale of these choices.

Details

International Journal for Lesson & Learning Studies, vol. 11 no. 2
Type: Research Article
ISSN: 2046-8253

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Article
Publication date: 5 August 2024

Chih-Ping Chen

Social media influencers (SMIs) have become vital components of interactive marketing to promote beauty-endorsed products. However, there are three major research gaps in the…

789

Abstract

Purpose

Social media influencers (SMIs) have become vital components of interactive marketing to promote beauty-endorsed products. However, there are three major research gaps in the literature on influencer marketing. This research aimed to fill these gaps by integrating the stimulus-organism-response (SOR) model with theories of source credibility and parasocial interaction (PSI).

Design/methodology/approach

A qualitative method was used to gain a deep understanding of the Korean beauty field in YouTube influencer marketing.

Findings

The data showed that YouTube influencer marketing is an ongoing PSI process that conforms to the extended SOR model. This model was based on four concepts: stimulus, which was the SMIs’ source credibility; organism, which was the followers’ perceptions of homophily/relevance to the SMIs in PSIs; response, which was the desire to imitate and engage in impulse buying behavior, and management, which was the parasocial trust friendship and/or relationship.

Originality/value

This study expands the new concept into the existing SOR model and releases an insight into ongoing PSIs in YouTube influencer marketing.

Details

Journal of Research in Interactive Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2040-7122

Keywords

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Article
Publication date: 26 May 2022

Wided Ragmoun

This paper aims to analyse the impact of institutional quality, economic factors and unemployment on entrepreneurial activity. The dynamic approach adopted in this study permits…

467

Abstract

Purpose

This paper aims to analyse the impact of institutional quality, economic factors and unemployment on entrepreneurial activity. The dynamic approach adopted in this study permits to evaluate the simultaneous influence of specific factors on total entrepreneurial activity.

Design/methodology/approach

A quantitative approach through a panel vector autoregression analysis was adopted to take into account possible endogeneity issues, and a short-run Granger test was used to test causality between variables to fill the theoretical and empirical gap about the joined and dynamic effect of institutional quality, economic factors and unemployment on total entrepreneurship activity as a dependent variable.

Findings

The use of a dynamic estimation approach demonstrates that three kinds of relative effects exist: durable and positive effects between industrial production index (IPI), stability and self-employment, a limited positive effect which exists during a predeterminant period between dimensions of institutional quality and unemployment rate (UR) and finally negative effects between IPI and UR.

Research limitations/implications

In general, this study identifies three main effects: negative, temporary positive and perpetual positive. This is the same conclusion for the link between self-employment rates (SER) and institutional quality, measured by six dimensions. Three of these dimensions are especially important: political stability and the absence of violence, governmental effectiveness and regulatory quality.

Practical implications

In light of this study’s results and contrary to the idea admitted about the negative effect of unemployment on entrepreneurial activity, it seems that a relatively positive effect exists. By relative, the author means during a determinant period. It also has to be remembered that entrepreneurial activity was appreciated by the SER according to the recommendation of many previous researchers discussed at the beginning of this paper. Based on the model, three levels of relations emerge. This permits this study to dress a hierarchical list of alternatives to promote entrepreneurial activity. Economic policymakers have to reconsider the importance of the UR as the best occasion to create firms if good institutions and economic support are provided. Good governance and stability are the most important institutional determinants with a long positive effect. This conclusion suits Glaeser and Saks (2006) as well as Ojeka et al. (2019).

Social implications

This research offers considerable scientific evidence to make decisions and orient decisions-makers about policies adopted to increase institutional quality, reducing unemployment and stimulate economic activity, but it is still necessary to reconsider these results for developing countries. It is hoped that future researchers enrich and reinforce the model to provide a critical pathway for successful entrepreneurship activity in this new normal. In the end, this crisis can be also treated as a good occasion to innovate and reconsider the thinking process to manage and operate in the economic world.

Originality/value

This study’s contribution is to help and assist economic policymakers to be aware of the relative importance of such determinants at the country level. The introduction of the relative importance of time is in agreement with the concept of entrepreneurial opportunity.

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