Browsing by Issue Date, starting with "2018-10-25"
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- Maragro Group : equity valuationPublication . Biscontin, Riccardo; Martins, José Carlos TudelaThe aim of this dissertation is to estimate the fair value of the equity of Maragro Group, an enterprise located in Romania and operating in the Farming segment. The valuation has been performed by taking into consideration the latest financial information available as well as predictions made by the management team regarding the 2017-2018 campaign. For these reasons, the value of the company shall be intended as of the 31.12.2017. Methods used for the valuation include the discounted Cash-flow methodology and more specifically the Adjusted Present Value approach, whereas multiples have been taken into consideration as to analyze the possible differences that characterize the Group as opposed to the companies representing the peer group. The outcome of this study is that Maragro Group shall be attributed a total enterprise value of 254.343.809 RON and an Equity value of 177.437.682 RON.
- Beta-i : analyzing the gap between brand identity and brand imagePublication . Pina, Ana Maria Filipe; Lino, Rute Sofia Barbosa XavierEnterprises are constantly challenged by the changing environment and market conditions. Brands are a key resource that companies possess to differentiate themselves from competitors. In order to assure effective branding strategies are being implemented, there is a need to evaluate the gap between Brand Image and Brand Identity. Up to now, no relevant research has been conducted within the field of branding regarding accelerators. To fill in this field gap the example of the Portuguese company Beta-i was used. Therefore, a study was conducted regarding four brand dimensions: Vision and Culture, Positioning, Personality and Relationship and within two groups of stakeholders: startups and corporations. The data was collected via online survey and consisted of 75 responses divided by the two groups. The analysis suggests that there exists a gap between Brand Image and Brand Identity when it comes to the perceptions regarding Positioning and Relationship. Additionally, results seem to show that both stakeholder groups have different perceptions of the same Brand Identity. This findings try to illutratre the existing gaps that exist in branding stratagies which should be address by corporations since they could potencially leed to negative and misleading perceptions towards their brand. Due to the inadequate reliability of the study future research needs to improve this research by gathering a larger sample.
- The BMW Group equity valuationPublication . Gonçalves, Afonso Tiago Figueira; Martins, José Carlos TudelaMore likely than not, valuation is present in everyone’s daily life. Whether one wants to value a property, an insurance proposal or even a stock, the need for valuation appears. This dissertation focuses on the need for valuing investment opportunities in stocks, namely in the BMW Group. I start with a brief presentation of the available literature in what concerns valuation methods. One may notice that the literature is so extent because no formal decision on what the best valuation method should be has yet been reached. Therefore, the choice between the available methods depend on the characteristics of the company being valued but is also laid on the analysts’ preference. The chosen methods for valuing BMW were the DCF with a WACC approach and Multiples. After reviewing the relevant literature, a brief presentation of the BMW Group was made, and the valuation was carried forward. The DCF valuation provided a price target of €104,18 showing a clear undervaluation as of the 30th of June 2018. As for the Multiples valuation, it proved to be more challenging as the market has been suffering from many uncertainties. Lastly, a comparison between this valuation and two other produced by professional analysts was made. The conclusion of this comparison was that a valuation method is only as good as the assumptions where it lays its roots on. Nevertheless, all three valuations appointed in the same direction: BMW is actually undervalued and an upward movement in its share price is expected.
- O processo especial de revitalização : análise crítica da reforma e o desígnio da recuperaçãoPublication . Trindade, Diana Filipa Oliveira; Epifânio, Maria do RosárioA presente dissertação incide no estudo do Processo Especial de Revitalização recentemente alterado pela reforma do Direito da Insolvência, que se instituiu com o Decreto-Lei nº 79/2017, de 30 de Junho. Com vista a realizar uma análise crítica sobre a reforma, propomo-nos percorrer detalhadamente o regime previsto, essencialmente, nos artigos 17º-A a 17º-J do Código da Insolvência e da Recuperação de Empresas. Nesta índole, para além do enquadramento inicial e da justificação da sua necessidade, consideramos de especial relevo analisar o instituto e a sua tramitação processual, de modo a apurar quais as normas ou matérias modificadas pela reforma, bem como as que não foram objeto de transformação. No final, será feita uma reflexão autónoma sobre determinadas questões de ordem material que poderiam ter sido objeto da reforma. Em suma, com este trabalho é feita uma comparação entre o regime primitivo e o Processo Especial de Revitalização pós reforma.
- Reclamação de créditos no processo de insolvência e no processo especial de revitalizaçãoPublication . Dias, Emília Manuela Gomes da Conceição; Epifânio, Maria RosárioNa presente dissertação pretendeu-se fazer um enquadramento geral ao tema do Direito da Insolvência, concretamente sobre reclamação e verificação de créditos, partindo-se, em seguida, para uma análise mais concreta, analisando-se os diversos mecanismos ao dispor de credores e devedor, desde a insolvência tout court, ao PER, passando ainda pelo PEAP, SIREVE e RERE. Paralelamente, considerou-se profícuo fazer uma viagem alargada pelas classificações de créditos, analisando-as, quer em termos de Direito nacional, quer em termos de Direito Comparado, tendo ainda em conta as novidades trazidas em Portugal pelo CIRE. Last but not least, analisam-se diversas alterações introduzidas no ordenamento jurídico português e que visam uma maior desjudicialização e celeridade do processo, atribuindo maiores competências ao Administrador da Insolvência. Ao longo deste trabalho, abordam-se divergências doutrinárias e jurisprudenciais, procurando ainda, ato contínuo, tecer as nossas considerações, dando um humilde contributo, fruto da nossa própria observação e análise derivadas da experiência profissional.
- The effect of involvement and national culture on change readiness : a case study of a multinational ERP implementationPublication . Barros, Julian Alessandro Madeira; Oliveira, Maria Teresa Vieira deToday’s fast-paced and ever-evolving business environment requires companies to quickly adjust to rapidly changing customer needs and market conditions. To stay competitive and survive in the long-term, many international organizations respond to this new business reality with the implementation of enterprise resource planning (ERP) systems. Implementing such IT systems often leads to major changes in organizational structures and requires from employees to swiftly adapt to new working practices. Hence, knowing how to carefully prepare organizational members for the changes ahead is crucial to assure the success of the IT implementation. This dissertation focuses on a case study of an IT transformation program within a major multinational corporation. Based on the given data, the investigation analyzes the effect of user involvement and national culture on Change Readiness for ERP implementations. The effect of national culture is explored with the use of Hofstede’s cultural dimensions of power distance index (PDI), individualism index (IDV) and uncertainty avoidance index (UAI). Findings support the positive effect of user involvement on readiness for change, as suggested by past academic literature. Moreover, the results point towards a difference between the observable behavior and the inherent attitude of users towards the implementation of ERP. The expected positive impact of IDV on Change Readiness could be confirmed, while the negative relationship between a country’s PDI and UAI score and an individual’s readiness for change could not be validated for this case study.
- No caminho do liderado : uma investigação sobre a dinâmica entre líder e liderado e o seu contributo para o desenvolvimento organizacional : a evolução do liderado a líderPublication . Robalo, Carlos Tiago Ribeiro Garcia de Freitas; Ilharco, Fernando Albano Maia de MagalhãesA presente dissertação procura desvelar qual o papel e o grau de influência de um trabalhador subordinado numa organização, tanto a nível da própria cultura empresarial como também no ambiente de trabalho juntos dos colegas. Partindo deste entendimento, analisando os estilos de seguidança, procura-se ainda perceber como este desempenho pode potenciar a evolução do liderado a uma posição de liderança. Esta investigação surgiu de uma tomada de consciência para as mudanças que se estão a verificar no dia-a-dia das empresas e na sua forma de fazer as coisas, com base na alteração das exigências e expetativas que se tem face aos colaboradores, mesmo antes de serem recrutados para uma organização. A partir da revisão de literatura procurou-se, primeiramente, perceber as dinâmicas de influência e de contribuição entre o comportamento e personalidade do colaborador com a própria cultura e ambiente da organização. Numa segunda fase, pretendeu-se perceber a influência do líder junto das suas equipas, bem como as dinâmicas internas dentro e entre os diferentes grupos e trabalho numa empresa e de que forma isto contribui para o desenvolvimento organizacional. Numa última fase, relacionando todos estes aspetos com os diferentes estilos de liderados, expõe-se uma proposta que pode explicar os atuais mecanismos e formas de se evoluir para um cargo de liderança. A investigação empírica consiste na exposição da memória descritiva da experiência vivida numa empresa de Recursos Humanos, onde se empregou o método de observação direta participante, bem como de seis entrevistas realizadas a membros de duas organizações distintas, de forma a entender o entendimento individual destes profissionais sobre a atual realidade organizacional. Por fim, foi realizada uma análise crítica através dos cruzamentos dos dados empíricos com a revisão de literatura.
- The impact of transformational leadership on individual adaptive performance : the moderating role of followers’ beliefs regarding leadershipPublication . Fernandes, Maria João Barbosa Varandas; Oliveira, Maria Teresa Vieira deContemporary world pressures and changing environments come from, e.g., strategy changes, fast changing technologies, and economic and political instability, which push employees to adjust their behaviors and daily routines. Consequently, to thrive, individuals must be adaptable, tolerant of uncertainty, and versatile, rejecting the status quo. Although contextual factors have been overlooked when predicting adaptive behavior, by articulating a clear outlook for the future, being inspirational, intellectual stimulating and supportive to their followers, transformational leaders should enhance their employees’ adaptive performance. In this dissertation, it is proposed that transformational leadership positively influences followers’ adaptive performance, and that this relationship is moderated by transformational leadership beliefs. With a Portuguese hotel industry sample, results show encouraging evidence supporting both hypotheses. Whilst inspiration proved to be the most influential transformational leadership dimension to facilitate followers’ reactivity to unexpected situations, managing stress, and adapting their behavior to better work with different others, intellectual stimulation proved to foster followers’ creativity and training effort the most.
- The european entrepreneurial ecosystem and its events : Beta-I casePublication . Miguel, Pedro José Bernardo; Lino, Rute Sofia Barbosa XavierThis dissertation was a consulting project developed for the events department of the company Beta-I, a startup incubator located in Lisbon. The company aimed to discover what innovations and different approaches were appearing in the biggest European clusters London, Berlin and Paris, specifically in the field of entrepreneurial events. By benchmarking several events, it was possible to divide them into eight different categories: Conferences; Learn, Meet & Speak; Competitions; Startup Job Fairs; Workshops; Ecosystem Bridging Events; Meetups and Parties; and Thank God it Failed. Furthermore, by analyzing each cluster individually and comparing them with Silicon Valley, it was possible to conclude that the most important asset of each ecosystem is its talent. Therefore, attracting talent becomes a priority. Several innovative ways for attracting talent were highlighted such as programs that focus on the entrepreneur rather than startups, or incubators that have close relations with universities. Having this in mind, the suggestions given to Beta-I were: connect with top Portuguese universities such as Católia Lisbon or Instituto Superior Técnico (IST) by organizing workshops and Learn, meet & speak sessions; create Bootcamps focusing students pre-company and pre-idea; organize Hackathons for IST students; integrate both Thank God It Failed and Ecosystem Bridging events categories into Beta-I´s event portfolio; and diversify workshop topics by including themes such as Digital Marketing, How to talk to Investors or Hiring Human Resources. Beta-I agreed with the recommendations and identified the need of creating a bridge with future entrepreneurs.
- Customer research study on credit card features and customer characteristics : Mastercard Consulting ProjectPublication . Ascensão, Rita de Brito; Lino, Rute Sofia Barbosa XavierThe follow dissertation comprises a customer research study on credit cards, divided mainly into three different fronts, how to communicate with customers or possible future customers the characteristics of the credit card holders and the features that customers want in a credit card. The main aim of this consulting project is to analyze the current market, focusing on the segments that were defined by the company: Millennial – Females, Millennial – Males, Not Millennial – Females, Not Millennial – Males and to provide the information gathered and the conclusion that were taken and that are specific and customize for the necessities of Mastercard. The analysis shows some differences between these four specific target groups. There seems to exist some major differences among Millennials and Not Millennials and between Females and Males. Most findings support the Literature Review. There is an urgent need for knowing the actual and potential customers and how they perceive the product. Therefore, this dissertation focused on understanding the customers and the characteristics that are more request by consumers regarding credit cards.