ADVANCE - Centro de Investigação Avançada em Gestão
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- Actuarial gains and losses: the choice of the accounting methodPublication . Morais, AnaABSTRACT IAS 19: Employee Benefits (2004) enables a choice between three accounting methods of recognising actuarial gains and losses: profit or loss, equity and corridor methods. The objective of this paper is to identify the accounting method of actuarial gains and losses followed by companies after the mandatory adoption of International Accounting Standards Board (IASB) standards. Information was collected about that accounting method adopted by 523 European companies, in the first year of mandatory IASB standards adoption. It was found that most of European companies included in the sample adopted the corridor method or the equity recognition method. The results also show that the equity recognition method is more used in the United Kingdom (UK) and Ireland and the corridor method is more used by financial companies.
- Adopting knowledge management mechanisms: evidence from Portuguese organizationsPublication . Oliveira, Mírian; Maçada, António Carlos Gastaud; Curado, CarlaIn the following paper, we propose that organizations will favor a particular mode of knowledge conversion when considering which knowledge management (KM) mechanisms to adopt. There is a gap in the research regarding the relationship between adoption of KM mechanisms, modes of knowledge conversion and the KM elements (people, process and technology). Thus, the main objective of this paper is to associate KM mechanisms with the modes of knowledge conversion and KM elements. The method adopted was a multiple-case study involving 11 organizations acting in Portugal. Data collected during interviews were subsequently subjected to content analysis. The study contributes to the literature by offering propositions regarding the association between KM mechanisms and modes of knowledge conversion. The results suggest KM mechanisms should be adopted according to the stages of KM implementation. This study may also serve as a guide for organizations when choosing which KM mechanisms to adopt.
- Aftermath of the sovereign debt crisis, the new challenges to competitiveness in PortugalPublication . Gonçalves, Vítor da Conceição; Sarmento, Joaquim Miranda; Rodrigues, RicardoThis paper focuses on the interconnections between sovereign debt and the competitiveness of nations in the aftermath of the recent sovereign debt crises in the Eurozone. Further, it identifies new challenges to improving competitiveness. Based on a deductive approach, we analyse secondary data regarding sovereign debt and competitiveness in 28 EU countries for the period from 2006 to 2017. We also look at the recent theoretical developments in the competitiveness of companies, nations, and regions with the goal of identifying the new challenges to Portuguese competitiveness. In the period under analysis, Greece, Ireland, and Portugal had considerable losses in competitiveness and increases in their sovereign debt ratio. Despite benefiting directly from Porter’s insights into improving the country’s competitiveness, the Portuguese sovereign debt ratio has increased steeply. A previous analysis identified a path; however, there are new challenges such as those associated with EU competitiveness, shared value, and smart connected products. These need to be considered to support the creation of new strategies and policies for a small and open economy. Based on our analysis, we argue that competitiveness-oriented policies must more explicitly consider the negative implications of sovereign debt, and must recognize the new challenges to competitiveness.
- Allostasis and organizational excellencePublication . Felício, J. Augusto; Rodrigues, Ricardo; Patino- Alonso, Carmen; Felício, TeresaOrganizational excellence is critical towards the development of organizations and, considering organizations’ role in the modern world, for societies’ economic and social development. The ability of organizations to adapt and adjust to the contingencies of the change and recover the stability of organizational systems through organizations’ own dynamic process is known as allostasis. This research focuses on the relationship between allostasis and organizational excellence. Based on a sample of 205 firms from Portugal and Spain, and resorting to fuzzy-set QCA (fsQCA), this research reveals that there are different combinations (equifinality) of conditions inherent to allostasis (adaptive capacity, feedback capacity, stigmergy capacity and integration intensity) leading to sustainable high outcomes (employee satisfaction, stakeholder satisfaction and organizational performance, jointly selected as proxies for organizational excellence). The analysis also shows that organizations that match those combinations simultaneously achieve high employee satisfaction, stakeholder satisfaction and organizational performance (multifinality), which is aligned with the premises of organizational excellence. Finally, the results reveal that in the different contexts (countries) analyzed, the combinations leading to high outcomes differ, thus supporting the idea that the ability to adapt and adjust that characterizes allostasis is critical towards organizational excellence.
- Ambidextrous capacity in small and medium-sized enterprisesPublication . Felício, J. Augusto; Caldeirinha, Vítor; Dutra, AdemarThis study examines the ambidextrous capacity—the ability to respond simultaneously to both disruptive and incremental innovation processes—of small and medium-sized enterprises (SMEs) in Portugal. The purpose is to understand the organizational ambidexterity of SMEs and its relationship to organizational performance and innovation capacity. The objectives are to evaluate the characteristics that identify ambidextrous organizations and analyze the effect of organizational ambidexterity on performance, supported by the contingency-based approach, organizational theory, behavioral theory of the firm, and organizational learning theory. After factor analysis is performed, a structural equations model is used to analyze a sample of 202 valid responses. The analysis shows that, for SMEs, disruptive innovation factors relate mainly to innovation capacity and incremental innovation factors relate to organizational performance. The confirmation of organizational ambidexterity in SMEs and the increased recognition of the importance of disruptive innovation are relevant contributions to the literature.
- An analytical inquiry on timeshare research: A continuously growing segment in the hospitality industryPublication . Penela, Daniela; Morais, Ana; Gregory, AmyThis study provides an inquiry on research conducted on timeshare, through a collection of 133 academic papers from 69 journals, and 121 theses and dissertations from 29 countries. The results indicate an increasing trend in timeshare research, with 67% of papers published since 2000, and 37% of theses and dissertations in the last decade. The main contributors are Rosen College of Hospitality and Management, on the top for publication of academic papers, and University of Nevada, on first place for timeshare-related theses and dissertations. This firstever far-reaching collection of literature allows the identification of key scholars and universities, and opens opportunities for exchange and cooperation within researchers to advance this body of literature. Finally, the contributions of this paper are not confined to timeshare research, as it draws attention to the importance of theses and dissertations, as a source of information that scholars are not using as much as they can.
- An organizational perspective on m-business : usage factors and value determinationPublication . Picoto, Winnie Ng; Bélanger, France; Reis, António Palma dosMobile technologies have increasingly become an integral part of individuals’ work and personal lives. Although research exists in this domain, most of it focuses on the customer’s adoption factors rather than assessing the value or the impact of mobile business (m-business) usage on firms. The present study fills this gap in the literature through the analysis of the value m-business can provide for firms. The Technology-Organization-Environment framework, Diffusion of Innovation theory and Resource-Based theory ground this research’s conceptual model for assessing the post-adoption stages of usage and value of mobile business from an organizational perspective. The value of m-business includes the impact on marketing and sales, internal operations, and procurement. This research uses a mixed method research design; interviews are first conducted to develop a model to assess m-business usage, and survey data collected from 180 Portuguese organizations is then used to test the proposed model. The results indicate that seven of the nine proposed antecedents of m-business usage are significant, and that m-business usage has a positive and significant relationship with m-business value. Furthermore, the three dimensions of value (marketing and sales, internal operations, and procurement) are significant, but only two of them have direct positive impacts on firm performance. Implications of these findings for practice and research are discussed.
- Análise da relação entre características das empresas e os key audit matters divulgadosPublication . Ferreira, Catarina; Morais, AnaO objetivo geral deste estudo é analisar se as particularidades das empresas auditadas influenciam o volume de key audit matters (KAMs). Como objetivos específicos, pretende-se identificar o número de KAMs divulgado pelas empresas brasileiras e analisar os principais fatores associados à sua divulgação. O estudo pretende contribuir para uma área de investigação ainda escassa que analisa os fatores que afetam a divulgação das KAMs e que, por isso, torna os relatórios dos auditores mais individualizados. Este estudo contribui para a compreensão dos principais assuntos de auditoria nas empresas brasileiras considerados relevantes pelos auditores, proporcionando evidência sobre fatores associados à sua divulgação. Este estudo é relevante para os organismos emissores de normas de auditoria e para os usuários da informação financeira. Para os emissores de normas de auditoria, este estudo é relevante porque identifica os fatores associados à divulgação das KAMs, permitindo confirmar que o novo modelo de relatório de auditoria contribuiu para sua despadronização. Finalmente, para os usuários da informação financeira, este estudo demonstra que a divulgação das KAM varia de empresa para empresa, contribuindo para a maior transparência do relatório de auditoria. Coletaram-se informações dos Relatórios de Auditoria e das Demonstrações Financeiras Consolidadas das 447 empresas brasileiras cotadas na Bolsa de Valores, Mercadorias e Futuros de São Paulo (BM&FBOVESPA) relativas a 31 de dezembro de 2016, aplicando-se a regressão ordinary least squares (OLS) ao modelo definido. Os resultados evidenciam relação positiva entre o número de KAMs divulgadas e o auditor ser uma Big 4 e a complexidade da empresa auditada. Já os honorários e a opinião do auditor ser modificada demonstram relação negativa com o número de KAM. O artigo é relevante para as empresas, auditores e órgãos de regulação e supervisão, uma vez que identifica características das empresas que afetam a divulgação de KAM e que são determinantes para a não padronização do relatório do auditor
- Analysis of the asset replacement level with an uncertain salvage value : a two-factor modelPublication . Zambujal-Oliveira, João; Duque, JoãoThe aim of this article is to analyse the asset replacement problem from the perspective of optimal replacement level, given a specific tax environment and depreciation policy. Using a real options approach, our model minimizes current operation and maintenance costs and allows the definition of a new value of the replacement flexibility within a multi-cycle environment. The innovation on the valuation process comes from adding an autonomous salvage value’s factor. The results from partial differential equations reveal relevant differences from those observed in one-factor models, especially with regard to optimal replacement levels and in the non-monotonous effects of salvage value variation. The numerical case study also confirms that the salvage value is indeed a worthwhile element in the replacement process. It was possible to determine that, in terms of the magnitude of the cost replacement level, the key roles are played by changes in the speed of mean reversion, as well in the salvage factor volatility. This paper provides some improvements to the existing literature in equivalent annual cost by drawing up a cost minimization problem conditioned by a different salvage value dynamics, and contributes to real options literature by introducing a salvage value factor in the pricing model.
- Analysis of the effects of task environment and firm’s market power on competitive position of Brazilian firmsPublication . Dias, Alexandre Teixeira; Camargos, Marcos Antônio de; Falcão, Nidelson Teixeira; Matos, Pedro VergaPurpose: The study aims to analyze the effects that task environment and firm’s market power exerts on Brazilian firm’s competitive position, during the period of 2012 to 2017, which encompasses the effects of the 2008 crisis. Design/methodology/approach: We used Partial Least Squares path modeling when estimating the effects of competitive environment and market power on a firm’s competitive position, considering the effects of time. The size of firm was used as a weighting factor. The sample is comprised by manufacturing industry Brazilian publicly traded firms, active in the period 2012 to 2017. Findings: The capacity of firms to achieve and sustain a favorable competitive position is directly dependent on the degree of market power they own. Under a reactive managerial point of view, managers should make strategic choices that allow the firm to stay close to consumers, to maintain and reinforce market power, avoiding reductions in market share. Under a proactive managerial point of view, managers should take advantage of market power by building barriers that would make it difficult for competitors to have access to consumers. Originality/value: This research brings two original contributions. The first one is the identification of the determining factors of the competitive position of Brazilian firms, during the period after the 2008 financial crisis. The second one is the proposition and test of a structural equations model to estimate the effects of market power and task environment on firm’s competitive position.