Browsing by Issue Date, starting with "2013-02-13"
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- The influence of political connections over the Portuguese stock IndexPublication . Niza, Gonçalo Grave Rodeia Espada; Reis, RicardoThis thesis explores whether political connections are a relevant issue in the corporate environment in Portugal. We use a hand-collected data set of executive boards of listed firms from EuroNext Lisbon Stock Exchange to identify the companies that appointed former politicians for their top corporate positions. The analysis shows that these politically connected firms have significantly easier access to financing at better conditions, as well as significantly more aggressive hiring policies. We also confirm a decrease in Market Capitalization of political connected firms, a year after the entrance of a former politician, in accordance to Cabo (2012) who first identified this decrease in a small window event study. We explored several characteristics among the political connections to get a finer description of the links between the political and the corporate world in Portugal.
- The evolution of savings in Brazil since 1960 : the role of real interest ratesPublication . Rodrigues, Regiane Silva; Neves, João César dasIs there any relationship between the real rate of savings (domestic and private) and the real interest rate in Brazil? In his work Daniel Gleizer assesses that - policies to strengthen national and private savings by increasing the real interest rate did not occur in Brazil because there was not any significant relation between these variables, in the period from 1960 to 1985. However, using one of his econometric models, a classical saving function, to examine the sensitivity of savings and changes in expected real interest rate in the period from 1960 to 2011, we conclude that there is a negative and significant relation between these variables, probably due to economic, political and social stability recently achieved. Economic stability provided the economic development that caused structural changes in the Brazilian society, in this way demographic characteristics were introduced as explanatory variables since they have direct effects on savings rates. The results after the introduction of those additional controls do not contradict the previous estimations - once again the real interest rate is a significant variable to explain variations in the real ratio of domestic and private savings.
- The role of social networks on financial products subscription : the case of Millennium bcpPublication . Tavares, Mariana Jordão Torres Marques; Celeste, PedroDuring a financial crisis, like the one we are facing today, financial institutions more than ever need to guarantee that they are able to keep their customer base, namely the most profitable customers, and acquire new customers, especially younger people with high potential like undergraduate and master’s students. Customer satisfaction and loyalty play an important role in this matter and that is one of the main concerns of banks in tough times. To acquire and retain new costumers among the youngsters, Millennium bcp created and launched a bundle of products specially designed for this segment. To reach and engage with this target, Millennium bcp invested in a Facebook page specially designed to communicate the new offer. The aim of this dissertation is to study the effect of social networks in the subscription of financial products. This paper studies the example of Millennium Go Facebook page, from the Bank Millennium bcp, which is a financial product page where informative and entertainment contents are inserted on a regular basis in order to keep its attractiveness and the relationship with the target public. Despite being quite hard to measure the impact of engagement with this channel, it was possible to reach some conclusions through market research. This example will help students and their instructor understand all the process of creating the Millennium Go bundle: from the first concept design to its development and marketing communication campaigns. Market research was done with a main objective: to perceive who has pressed “like” on the Facebook page; when they have decided to do that, if before or after a purchase; and the reason why they have become fans of a financial institution Facebook page. The different perceptions of this channel between people who have and have not a “like” on the Facebook page were also studied. At the end of the study, it was possible to perceive that this new channel is usually used to seek information about a product or to have access to special content about the brand. It was also possible to conclude that there is a significant difference in terms of attitudes and perceptions among users and non-users of Facebook.