CEsA/CSG - Artigos em Revistas Internacionais/Articles in International Journals
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- The value of information : the impact of European Union bank stress tests on stock marketsPublication . Borges, Maria Rosa; Mendes, José Zorro; Pereira, AndréWe tested whether the 2010, 2011 and 2014 European Union bank stress tests produced useful and real information to the market. Using an augmented capital asset pricing model, we analyzed the impact of the information disclosures on each stress test (announcement, methodology and results events) on the stock market returns and risk of banks. Our approach allows an integrated analysis, as a sample of 41 banks that participated in all three stress tests was used. The most significant event was the methodology disclosure, in terms of its impact on risk and returns. In contrast, the results events did not have much impact in the stock market when considering the entire sample of banks. On the other hand, after dividing the sample of banks into two groups (those that passed the 2014 European Union stress test vs. those that failed), we observed a significant reaction of the stock markets in both groups. These findings are consistent with the hypothesis that stress tests provide real and valuable information to the markets about the banking system. A significant part of that information is conveyed by announcement and methodology events
- Digital music and the “death of the long tail”Publication . Coelho, Manuel Pacheco; Mendes, José ZorroDigital distribution is a new technology that is revolutionizing the pop-rock music market. Extensive debate exists on the long tail theory that predicts a niche strategy in the pop-rock market versus the conventional wisdom of a “superstar effect” that predicts skewness in the market outcomes for artists. This research tests the empirical evidence of such effects and elaborates on how the firms respond to this disruptive technological revolution and how this response changes strategic management.
- Jovens, processos identitários e sociedades em movimento: um olhar sócio-antropológico sobre a emergência dos movimentos juvenis identitários na cidade da Praia, Cabo VerdePublication . Lima, Redy WilsonA República de Cabo Verde conquistou a independência em 1975 e abraçou a democracia liberal em 1991, o que foi considerado considerado como um exemplo em África em matéria de democracia e de boa governação. Ainda assim, aproveitando os ventos de contestação mundial pós-2008, começaram a surgir na capital do país vários tipos de protestos públicos, tendo como protagonistas jovens urbanos. Estes protestos coincidiram com um conjunto de situações denunciadas por vários relatórios e estudos académicos: situações de estrangulamento da sociedade civil fruto da bi-partidarização da vida social; perceção de insegurança urbana e de uma onda generalizada de corrupção; desconfiança dos cidadãos em relação às instituições públicas e políticas; mercantilização do voto; relação ambígua entre ativistas político-partidários e grupos de jovens armados em período eleitoral; denúncias de financiamentos de facões nacionais do narcotráfico a partidos políticos, etc. Com o presente artigo, com base num conjunto de trabalhos etnográficos desenvolvidos desde 2008 no contexto juvenil urbano da Praia, tenciono analisar o contexto do surgimento destes novos tipos de protestos sociais e políticos organizados em coletivos de jovens que se autointitulam filhos e netos de Amílcar Cabral, em que suportados por discursos contra-coloniais, apelam a uma segunda libertação e (re)africanização do espírito e das mentes.
- Modern intimacies and modernist landscapes : chinese photographs in late-colonial MozambiquePublication . Macagno, LorenzoThis paper addresses a specific aspect of the social and cultural life of the Luso-Chinese in Mozambique, whose first contingents came from the Chinese province of Guangdong in the second half of the 19th century. Most settled in the city of Beira. By the 1950s, the Chinese community was already well integrated into modern life in colonial Beira. The city was going through an unprecedented urban and architectural boom. At that time, the Luso-Chinese, who were essentially merchants, also began to stand out in the field of photography. Based on a multi-sited ethnography among the Portuguese-Chinese diaspora – and their family photo albums – this paper reflects on two inseparable aspects of late-colonial modernity: architecture and photography.
- Exploring the role of norms and habit in explaining pro‐environmental behavior intentions in situations of use robots and AI agents as providers in tourism sectorPublication . Sarmento, Eduardo Moraes; Loureiro, Sandra Maria Correia: In a pandemic situation, with climate change around the world, studies analyzing changes in travel patterns are welcome. This study combines three theories to propose a model on proenvironmental behavior intentions, namely, the theory of planned behavior, value–belief–norm theory and habit theory. This study aims to examine the role of social norms, personal norms and habit strength to explain pro-environmental behavior intentions. The authors collected 316 usable questionnaires from tourists in the well-known touristic Belem location in Lisbon. Personal norms were revealed to have the strongest association with pro-environmental behavior intentions, followed by habit strength. The study also identified different broad challenges to encouraging sustainable behaviors and use these to develop novel theoretical propositions and directions for future research. Finally, the authors outlined how practitioners aiming to encourage sustainable consumer behaviors can use this framework to achieve better results.
- Exploring emotional states and surprising consumption as drivers of engagement at music festivalsPublication . Sarmento, Eduardo Moraes; Loureiro, Sandra Maria Correia; Silva, Sara Duarte eThe aim of the current study is to explore the relationship between visitors' emotional states and surprise consumption with visitors' engagement at festivals in Portugal. A sample of usable questionnaires allowed us to understand that surprising consumption and arousal are very important drivers to engage visitors to music festivals. The article also provides managerial implications, limitations and further research
- Common causes in grassroot development : a case for community-based and communitydriven response in the postpandemic eraPublication . Patrick-Agulonye, Uzoma VincentPurpose – The purpose of this study is to determine the impact of community-based and driven approaches during the lockdowns and early periods of the pandemic. The study examines the impact and perceptions of the state-led intervention. This would help to discover a better approach for postpandemic interventions and policy responses. Design/methodology/approach – This article used the inductive method and gathered its data from surveys. In search of global opinions on COVID-19 responses received in communities, two countries in each continent with high COVID-19 infection per 100,000 during the peak period were chosen for study. In total, 13 community workers, leaders and members per continent were sampled. The simple percentile method was chosen for analysis. The simple interpretation was used to discuss the results. Findings – The study showed that poor publicity of community-based interventions affected awareness and fame as most were mistaken for government interventions. The study found that most respondents preferred state interventions but preferred many communities or local assessments of projects and interventions while the projects were ongoing to adjust the project and intervention as they progressed. However, many preferred community-based and driven interventions. Research limitations/implications – State secrecy and perceived opposition oppression limited data sourcing for this study in countries where state interventions are performed in secret and oppression of perceived opposition voices limited data collection in some countries. Thus, last-minute changes were made to gather data from countries on the same continent. An intercontinental study requires data from more countries, which would require more time and resources. This study was affected by access to locals in remote areas where raw data would have benefited the study. Practical implications – The absence of data from the two most populous countries due to government censorship limits access to over a third of the global population, as they make up 2.8 out of 7 billion. Social implications – The choice of two countries in each continent is representational enough, yet the absence of data from the two most populous countries creates a social identity gap. Originality/value – The survey collected unique and genuine data and presents novel results. Thus, this study provides an important contribution to the literature on the subject. There is a need for maximum support for community-based interventions and projects as well as global data collection on community-based or driven interventions and projects.
- On the nature and determinants of poor households’ resilience in fragility contextsPublication . Quétel, Christophe R.; Bordin, Guy; Abreu, Alexandre; Lemi, Ilektra; Sangreman, CarlosSeveral global policy frameworks focus on managing (risks of) disasters affecting broad populations. In those frameworks resilience is a conceptualisation that possibly has important ideological implications. It is often opposed to fragility, and used to validate the notion of recurring insecurity, promote individual adaptability almost in the form of an obligation, and push the idea that crises/catastrophes are opportunities for profound changes. While effects from the COVID-19 pandemic have brought the protective role of the state to the fore, applying the word resilience to poor people requires clarification, especially in contexts of weak state public services and because assessment of complex poverty situations too often remains oversimplified and error-prone. We argue that to build capacity for resilience poor households need policies that protect and help them out of poverty, and that policy-making processes require engagement with people. Individuals must be asked about their perceptions and management of risks and threats, both in daily life and under exceptional circumstances, especially if the resulting stress factors accumulate and interact. This socially informed, place-specific, and multi-level approach could contribute substantially to identifying interventions, reducing poverty and poverty related risks, enhancing well-being and promoting development and cooperation programmes that meet people’s expectations.
- Digitalization and corporate transformation: the case of European oil & gas firmsPublication . Fernandez-Vidal, Jorge; Gonzalez, Gonzalez; Gasco, Jose; Llopis, JuanDigital technologies have had a tremendous impact on the world and have forced companies to adapt their business models, strategies and management practices. There is a scarcity of research about digital transformation in the energy sector, so this paper aims to analyze this phenomenon in the Oil & Gas sector through a comparative case analysis of eight market leading European Oil & Gas companies. To ensure an adequate methodological approach, the authors have applied Eisenhardt's framework to build theories from case study research. This article relies on multiple data collection methods. 26 interviews with 18 senior executives from the sample energy firms and two global consulting firms were completed in two separate phases. To complement these interviews, information and data were collected from a range of public sources, such as newspapers, video interviews, business magazines and analyst reports, as well as public information from the eight companies under analysis, such as annual and financial reports, company presentations, regulatory filings and announcements and company news. Our research highlights several transformational moves in the firms under study that bring substantial new capabilities and allow them to achieve market-leading positions in new and digitally native business areas -although modest in size. The sample firms mainly opt for combinations of small transformational strategies to achieve their large transformation goals. However, in many organizations, digital and business transformation initiatives suffer from poor governance and are typically just a collection of unconnected activities, piecemeal strategies and pilot projects. Developing a coherent transformation strategy, with the right structure and governance, remains a challenge for most organizations. This paper, leveraging the collective learnings from the eight companies studied, aims to help decision-makers with a conceptual guideline to select the most appropriate strategic tools when undergoing a transformation, based on four dimensions that are of high relevance across multiple strategic environments.
- Common causes in grassroot development : a case for community-based and communitydriven response in the postpandemic eraPublication . Patrick-Agulonye, Uzoma VincentPurpose – The purpose of this study is to determine the impact of community-based and driven approaches during the lockdowns and early periods of the pandemic. The study examines the impact and perceptions of the state-led intervention. This would help to discover a better approach for postpandemic interventions and policy responses. Design/methodology/approach – This article used the inductive method and gathered its data from surveys. In search of global opinions on COVID-19 responses received in communities, two countries in each continent with high COVID-19 infection per 100,000 during the peak period were chosen for study. In total, 13 community workers, leaders and members per continent were sampled. The simple percentile method was chosen for analysis. The simple interpretation was used to discuss the results. Findings – The study showed that poor publicity of community-based interventions affected awareness and fame as most were mistaken for government interventions. The study found that most respondents preferred state interventions but preferred many communities or local assessments of projects and interventions while the projects were ongoing to adjust the project and intervention as they progressed. However, many preferred community-based and driven interventions. Research limitations/implications – State secrecy and perceived opposition oppression limited data sourcing for this study in countries where state interventions are performed in secret and oppression of perceived opposition voices limited data collection in some countries. Thus, last-minute changes were made to gather data from countries on the same continent. An intercontinental study requires data from more countries, which would require more time and resources. This study was affected by access to locals in remote areas where raw data would have benefited the study.