Browsing by Issue Date, starting with "2023-05-09"
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- Five-factor residual momentum : a comparative analysisPublication . Teixeira, José Gonçalo Maia Barbosa Valente; Barroso, PedroMomentum strategies entail taking on time-varying exposures to the five factors of Fama and French. We show that by ranking stocks on the portion of their return not explained by such factors (residual return) improves momentum’s Sharpe ratio and results in less volatile performance. By comparing residual momentum with standard momentum we find that neither strategy can be explained by priced risk factors or by industry effects, but the residual momentum strategy subsumes traditional momentum. Not all of the Fama and French factors contribute equally to residual momentum and the simpler version of the strategy delivers the best perfor mance. Our results also show that the profitability of standard momentum is not explained by the risk of factor timing.
- The impact of co-creation on enhancing trust, ethical and sustainability perceptions of luxury fashion brands, and willingness to pay for luxury goods : to what extent do luxury brands inviting consumers to co-create sustainable fashion products lead to a word-of-mouth effect?Publication . Tenente, Sofia Almeida Coimbra; Colaço, VeraFrom irreversible damage to the planet and its raw materials, to involvement in deforestation and plastic pollution, to high water consumption and disregard for human rights, the production and consumption of luxury products has led to worrisome social and environmental complications. Against this backdrop, some companies started to incorporate corporate social responsibility measures to act more ethically, while luxury brands have made some efforts to adopt more sustainable and innovative practices. Yet, the way these practices have been communicated has been ineffective. Co-creation, a process where consumers are part of companies’ product development process, has emerged as an interesting tool to improve a brand's sustainable and ethical perception. To further examine co-creation’s role, an experimental study was conducted to investigate the effects of co-creation on word-of-mouth, consumer trust, sustainability perceptions, consumer perceived ethicality, and willingness to pay. Moreover, the mediating effect of perceived consumer effectiveness was tested on that relationship. The results show that co-creation has a positive impact on word-of-mouth and brand valuations. They also show that perceived consumer effectiveness indirectly influences the relationship between co-creation and word-of-mouth, consumer trust, and sustainability perceptions, while partially mediating the relationship between co-creation and consumer perceived ethicality. This dissertation provides important theoretical and practical contributions that strengthen the sustainable and ethical role of brands in the luxury sector. It also provides important implications for companies interested in learning more about the positive effects of co-creation and the benefits its implementation can bring to the company as a means of communicating with consumers.
- Hidden psychological reasons among counterfeit and conspicuous fashion products : self-perceptions versus others' perceptionsPublication . Casale, Chiara; Braga, João NizaThe study of conspicuous and fashion products is central for the understanding of the role of material goods in social relationships and the impact of consumer culture on society. The present research examines the main differences between people's perceptions of themselves and their perception of how other people can judge them while using fashion products. In particular, their choice was compared between genuine and counterfeit, conspicuous or non conspicuous items. Through experimental research, this paper reveals a common thought for genuine products in both self-perceptions and others’ perceptions, since such products are more attractive to consumers who usually prefer to display their wealth and status. On one side, conspicuous fashion items increase the perception of having a higher self-image. Also, these products lead to a greater social adjustive function and expression of value in consumers if other people perceive fashion items as essential elements within social contexts. On the other side, counterfeit and conspicuous products will be seen as a lack of social status regarding how others judge people while using these products, projecting a negative influence on their perception. Overall, this study underscores the significance of comprehending the social consequences associated with fashion products and emphasizes the necessity of taking into account how others may perceive consumers based on their use of such items, and how this can impact their decision-making process.
- Culture clash: Russia, Ukraine and the fight for the European publicPublication . European Council on Foreign Relations; Franco, Lívia
- Otimização da dinâmica de marketing no talho do grupo SONAEPublication . Nunes, Bárbara Sofia Ribeiro Fagulha; Celeste, Pedro Manuel Amador RodriguesO número de talhos em Portugal tem vindo a decrescer há vários anos, devido à crescente influência das grandes redes de supermercados, como o Continente e o Pingo Doce. Além de oferecerem uma vasta gama de carnes embaladas, estes supermercados disponibilizam igualmente, na sua grande maioria, serviços de atendimento personalizados, como sucede nos talhos tradicionais de rua. Com a recente recessão económica, temos assistido à perda de poder de compra por parte de diversos consumidores, que optam, cada vez mais, por hard discounts, como o LIDL e o Aldi. A entrada de novos players no mercado português, como a Mercadona, o líder de mercado espanhol, aumenta ainda mais a pressão e faz-nos querer desenvolver a área de negócio do talho, de forma a potenciar os seus resultados, tornando-o líder de mercado. Deste modo, este estudo tem como objetivo analisar a importância do Marketing no desenvolvimento do talho e contribuir para a alteração das perceções negativas de que o talho do grupo SONAE tem sido alvo. Através da análise do contexto interno e externo, conseguimos perceber que o Pingo Doce é líder de mercado no talho, com insígnia com maior quota e também com o maior Net Promoter Score (NPS) e é também percecionado como supermercado com as melhores promoções e com o melhor talho. Contudo, a Sonae tem vindo a melhorar os seus indicadores. O crescente foco e investimento numa estratégia de Marketing têm aumentado o crescimento do talho a longo prazo.
- Gemeinschaft und Digitalisierung: Herausforderungen einer künftigen TheologiePublication . Duque, João ManuelDie Hauptvoraussetzung für den Fokus des Artikels ist, dass sowohl für den Auftrag der Kirche und die entsprechenden Vorgaben an die Theologie als auch für den Auftrag der Universität und ihre Rahmenbedingungen die gesellschaftlichen Erwartungen bzw. die wichtigsten gesellschaftlichen Prozesse maßgebend sein müssen. In diesem Sinne beabsichtigt der folgende Artikel, sich auf die Kombination zweier herausragender Topoi der zeitgenössischen Gesellschaft zu konzentrieren: die Bedeutung der Digitalisierung von menschlichen Beziehungen und die Gemeinschaftsdynamiken in ihrer politischen und anthropologischen Dimension. Es wird vorgeschlagen, die Artikulation dieser Lektüre im Kontext digital vermittelter Beziehungen zu analysieren, im Sinne einer tiefgreifenden Transformation des öffentlichen Raums. Dazu werden die Anthropologie des Alltäglichen von Michel de Certeau und die Philosophie der Gemeinschaft von Roberto Esposito als inspirierende Modelle übernommen. Schließlich wird eine mögliche theologische Lektüre dieser Artikulation vorgeschlagen, als Leitfaden für die Arbeit der Theologie zwischen kirchlichem und universitärem Raum, zugleich als Beitrag der Theologie aus dem kirchlichen und universitären Kontext zum Verständnis und zur Artikulation zeitgenössischer sozialer Dynamik.
- The effect of credit ratings on firm’s leverage in the aftermath of 2008 (evidence from the U.S market)Publication . Zouari, Ahmed Yassine; Bonfim, DianaThe objective of this dissertation is to study leverage decisions of firms and the explanation of their behavior before and after a credit rating change. I analyze the effect of ratings prior and post upgrade and downgrade on different sub-samples and assess the strength of the relation existing between credit ratings along with certain ratings positions on the leverage levels of firms in the US. The results of the fixed-effects model show that firms that are on the verge of a credit rating upgrade or downgrade tend to decrease their leverage. This behavior changes for downgraded firms, 1-year post downgrade, as I notice a strong statistical tendency for firms to increase their leverage. I notice also a robust statistical significance for this relationship for a sub-sample constituted of speculative firms.
- A comparative analysis of machine learning models for corporate default forecastingPublication . Seum, Alexander Michael; Schliephake, EvaThis study examines the potential benefits of utilizing machine learning models for default forecasting by comparing the discriminatory power of the random forest and XGBoost models with traditional statistical models. The results of the evaluation with out-of-time predictions show that the machine learning models exhibit a higher discriminatory power compared to the traditional models. The reduction in the sample size of the training dataset leads to a decrease in predictive power of the machine learning models, reducing the difference in performance between the two model types. While modifications in model dimensionality have a limited impact on the discriminatory power of the statistical models, the predictive power of machine learning models increases with the addition of further predictors. When employing a clustering approach, both traditional and machine learning models exhibit an improvement in discriminatory power in the small, medium, and large firm size clusters compared to the previous non-clustering specifications. Machine learning models exhibit a significantly higher ability to classify micro firms. The findings of this research indicate that the machine learning models exhibit superior discriminatory power compared to the traditional models across the different specifications. Machine learning models can be used to forecast the potential impact of corporate default of non-financial micro cooperations on the Portuguese labour market by estimating the number of jobs at risk.
- As condições de trabalho e o stress ocupacional de profissionais de saúde durante a COVID-19Publication . Sousa, Diana; Sobral, Filipa; Morais, CatarinaEm março de 2020, a Organização Mundial de Saúde declarou a COVID-19 como pandemia. O seu surgimento e propagação contribuiu para aumentar os desafios existentes no quotidiano dos profissionais de saúde, impelindo o desenvolvimento de uma parceria entre o Serviço Nacional de Saúde e Privados para prestar uma resposta otimizada ao tratamento da doença, em Portugal. O stress ocupacional, traduzido no medo e preocupação de ser infetado e infetar, devido às jornadas laborais extensas e falta de materiais e recursos no combate ao vírus, leva a presente investigação a ter como objetivo a análise da perceção das condições de trabalho e dos níveis de stress ocupacional percecionados pelos profissionais de saúde nos contextos hospitalares público e privado durante a pandemia. Tratou-se de um estudo quantitativo e transversal, composto por um total de 97 profissionais de saúde do setor público e privado. Os resultados revelaram que, apesar da média dos valores de sobrecarga horária entre setores ser semelhante, os profissionais de saúde trabalharam significativamente mais horas do que as estipuladas/previstas. De igual modo, o nível de stress ocupacional entre os profissionais dos diferentes contextos foi similar. Por fim, aferiu-se que as condições físicas e materiais de trabalho são preditoras de stress ocupacional, ao invés da sobrecarga horária. Este estudo demonstra que é importante que as instituições de saúde, sejam elas públicas ou privadas, disponibilizem aos seus trabalhadores as melhores condições de trabalho físicas e materiais possíveis, sobretudo face às exigências de um contexto pandémico.
- Marketing digital na promoção da atividade de fotógrafo em PortugalPublication . Cunha, Karina Ferreira; Passos, Clotilde; Pereira, PauloA maior evolução do marketing deu-se com o advento da internet, e a fotografia não ficou distante desta evolução, de analógica a digital, mudou a forma de trabalho. Os profissionais tiveram que acompanhar as mudanças, adaptando-se às novas tecnologias para sobreviverem e destacar-se neste novo cenário. Assim, este estudo tem como objetivo identificar as ferramentas de marketing digital mais utilizadas na divulgação e as mais eficazes para a promoção da atividade de fotógrafo em Portugal. Para a recolha de dados utilizou-se uma abordagem quantitativa. Foram analisados 20 websites e aplicado um questionário online a fotógrafos portugueses. A amostra contou com 99 participantes e os dados foram tratados através do SPSS versão 27. Os principais resultados mostraram que os fotógrafos utilizam maioritariamente os meios digitais para divulgar e promover as suas atividades e as ferramentas mais utilizadas são do marketing digital (medias e redes sociais, websites, anúncios online e e-mails marketing). Segundo estes profissionais as ferramentas mais eficazes para o negócio são as redes sociais e os websites. Constatou-se que algumas ferramentas e técnicas são pouco utilizadas ou desconhecidas (os backlinks, as técnicas de posicionamento de site - SEO e a web analytics) e outras precisam de maior atenção, como a atualização dos conteúdos nos websites e a comunicação com o cliente. O estudo mostrou em que ponto deste processo de transformação estão inseridos os fotógrafos portugueses participantes no questionário, e quais os pontos que merecem mais atenção, trazendo desta forma, uma perspetiva pouco investigada e analisada pelos profissionais da fotografia em Portugal.
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