Percorrer por data de Publicação, começado por "2024-10-23"
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- Pétis : a digital ecosystem for pets : developing a customer loyalty strategy to increase retention and recurring purchasesPublication . Murta, Guilherme Cavaco; Xavier, RutePétis is a Portuguese start-up, founded in 2022, that aims to establish itself as a digital one-stop-shop for pets. It offers everything that pet owners could possibly need, from insurance to food, accessories and other pet care supplies, as well as sourcing a national network of service providers, such as veterinary clinics, schools, groomers and day-cares. Although Pétis is still in an early stage of life, within only two years it has managed to distinguish itself by winning a Product of the Year 2024 award for its innovation. Nevertheless, the start-up has yet to integrate a customer loyalty strategy that is capable of retaining customers in a market usually characterized by a lower level of loyalty. Thus, this dissertation's primary goal is to explore the domain of customer loyalty, with a focus on loyalty programs, and ultimately recommend a set of best practices for Pétis to implement in its strategy. In order to gather intelligence, a benchmark analysis of national and international companies was conducted, along with a customer survey in the form of an online questionnaire. These studies, combined with the existing literature, laid the foundation for the recommendations provided to Pétis at the end of the dissertation.
- Climate risk and bank lending to firms : a literature reviewPublication . Alves, Mariana de Oliveira; Marques, Bernardo de Vasconcelos e Sousa PaulaClimate change poses a challenge to the global economy, with the banking sector and corporate borrowers at the vanguard of managing related risks. Against this backdrop, this thesis investigates the state-of-the-art of the literature on the impact of climate risk on bank lending to corporations, focusing both on physical and transition risks. To do so, a systematic literature review is performed that covers papers published in top Finance journals (ABS 3 or above), between 2000 and 2024, available in the "Web of Science" database, and which meet certain climate-related keywords. By analysing in detail the 23 papers that resulted from the systematic review, we find a large number of results and potential gaps in the literature, including, for instance, that (i) there is some concentration of climate risk measures (physical risks: natural disasters, transition risk: carbon emissions), (ii) studies on climate physical risks are concentrated on the impact of climate risk on borrower creditworthiness, whereas papers on transition risks are almost exclusively focused on regulatory changes as the transmission channel, (iii) only a few studies have studied borrowing firm’s exposure to physical risks in Europe and the Emerging Markets; and (iv) physical risks generally exhibit a positive correlation with bank lending measures, while less consensus is found for transition risks. Overall, we view the results presented in this thesis as showcasing that the intersection between climate risks and bank intermediation is a vibrating field of study and we hope that researchers find this review interesting to guide future contributions for research.
- Exploring western multinational enterprises' perceptions and challenges in implementing human rights principles : towards a practical facilitator modelPublication . Collmann, Imke; Moreira, SérgioThis master's thesis explores the perceptions of Western MNEs towards human rights and the major challenges they encounter in implementing these principles across their global operations. While comprehensive international frameworks such as the United Nations Guiding Principles on Business and Human Rights (UNGPs) exist to provide guidance, many MNEs struggle to integrate these standards into their day-to-day business activities. Through qualitative research, including expert interviews, this study explores the complexities and nuances of the implementation of human rights principles within MNEs. The findings highlight significant gaps between strategic intent and on-the-ground implementation, often driven by factors such as the intricate structure of global supply chains, legal and cultural variations across jurisdictions, local labor laws, societal norms and resource constraints that limit the ability of companies to enforce human rights consistently across all tiers of operations. To address these challenges, a practical facilitator model is proposed, offering actionable recommendations in three key areas: "Governance and Strategy," "Operational Implementation and Resources," and "Stakeholder Engagement and Accountability." By focusing on these three pillars, the model aims to provide MNEs with concrete strategies for bridging the gap between commitment to human rights and their effective practice, ensuring that their operations are better aligned with international standards while navigating the complexities of global business environments. Through the implementation of this model, MNEs can proactively address human rights risks, mitigate adverse impacts, and contribute to sustainable and ethical global business practices.
- Portrayals of artificial intelligence (AI) : assessing patient reliance in high-risk medical decision-makingPublication . Pfründer, Teresa; Almeida, Filipa deAs healthcare increasingly adopts artificial intelligence (AI) for decision support, the success of AI systems depends on user trust and willingness to rely on recommendations, especially in high-risk medical scenarios. This study used an experiment featuring different portrayals of AI4presented as code-based, morph, or human-like4to assess how these visual representations impact patients' trust in AI recommendations. The findings reveal that visual portrayals of AI has no significant effect on utilitarian motivation, interaction convenience, or task-technology fit. Instead, perceived competence emerges as the most influential factor in building trust, which in turn increases reliance on AI recommendations. The results highlight that users prioritize the functional competence and reliability of AI over aesthetic or anthropomorphic features, particularly when accuracy and trust are critical. The study offers important managerial insights for organizations integrating AI systems, emphasizing the need for transparency, accuracy, and reliability to foster trust. While aesthetic enhancements may attract initial engagement, they should not detract from delivering clear and reliable outputs. By focusing on competence and trustworthiness, organizations can enhance AI adoption, particularly in healthcare, where accurate decision support is crucial. This research underscores the importance of designing AI systems that not only meet technical standards but also maintain user trust, ensuring their effective use in decision-making processes.
- Green grades and financial shades : the ESG influence on default riskPublication . Bonato, Alberto; Hull, IsaiahThis paper investigates the relationship between ESG scores and Default Probability (DP) for European firms in the STOXX Europe 600 index. We model this relationship using the Altman Z-Score and Ohlson O-Score as proxies for DP in regression analysis, while controlling for leverage, volatility, and size. The findings of this study show that higher ESG scores are associated with a higher DP for the Altman Z-Score, but with a lower DP when using the Ohlson O-Score. This discordant outcome highlights the sensitivity of results to the choice of DP proxy. The conclusion is that, even though the ESG factors can influence financial stability, their effect on default risk is minimal; hence, ESG is not the primary driver of default risk.
- Developing a financial profile test : big five personality traits and degree of financial literacy influencing individual financial risk tolerancePublication . Schwar, Juliane Katharina; Xavier, RuteIn "Developing a Financial Profile Test: Big Five Personality Traits and Degree of Financial Literacy Influencing Individual Financial Risk Tolerance" by Juliane Schwar, the focus is on creating a financial profile test to assess an individual9s financial risk tolerance influenced by personality traits and financial literacy. The research builds on existing studies showing that financial risk tolerance is complex and influenced by several factors. The study highlights a common discrepancy between people's perceived financial knowledge and their actual understanding. To address this, the study measures financial literacy by combining self assessment with questions on diverse financial topics. Personality traits are assessed through questions built on the Big Five personality traits: openness, conscientiousness, extraversion, agreeableness, and neuroticism. Financial risk tolerance is measured using a questionnaire designed to explore various aspects of this trait. Based on their answers, people are grouped into several profiles using cluster analysis. Contrary to previous investigations, conscientiousness is found to positively influence risk tolerance, while openness to experiences has no significant impact. The study ultimately distinguishes individuals into seven risk tolerance clusters, integrating financial literacy and personality traits.
- Art as a diversifier : the ever-green value of art masterpieces. Is it a good investment decision?Publication . Zucaro, Jasmin; Alfaro, IvanThis thesis considers the increasing underlying changes in art price patterns, both over time and amongst different artworks, which are not evident due to the apparently overall constant performance of the art market. It argues, in line with previous literature, that implementing an index for masterpieces' returns, could be a useful approach in order to understand better what trend direction the market is currently pursuing. Notably, our contribution to the existing literature lies in the inclusion of a more recent dataset. Developing our analysis focusing on Contemporary and Modern art, we aim to enhance and broaden insights regarding the market for Post-War artworks, and how they can contribute as a valid asset diversifier against a standard portfolio only composed of traditional financial assets.
- Gifting for social impact : understanding customer attitudes towards donation-as-a-gift : an evaluation of the business idea behind "giftimpact"Publication . Aschauer, David; Xavier, RuteEvery year, billions are spent on gifts that often fail to meet the recipients’ desires, contributing to waste and missed opportunities for meaningful impact. At the same time, charitable organizations face challenges in securing donations, struggling to engage new supporters, particularly as traditional fundraising methods become less effective in the digital era. “GiftImpact” seeks to address this dual dilemma by transforming giftgiving into an opportunity for social good. This thesis explores how consumers perceive donationasagift within the context of “GiftImpact” focusing on what drives purchase intentions and willingnesstopay. The research finds that younger individuals, especially those with a positive attitude towards sustainable gift-giving, are more likely to engage with the platform, while older consumers, despite having lower purchase intentions, demonstrate a higher willingnesstopay. The analysis also challenges the assumption that digital fundraising dominates the charitable landscape, showing that traditional donation methods remain slightly more popular among respondents. This suggests that “GiftImpact” should incorporate both digital and traditional marketing strategies to effectively reach its target audience. In conclusion, the desirability hypotheses of the business model canvas confirm that “GiftImpact” aligns with market demand, suggesting strong potential for the platform.
- Artificial intelligence adoption intentions : the influence of innovative culture and workplace happinessPublication . Gietz, Theresa Sophie; Almeida, Filipa deSince the rise of Artificial Intelligence (AI), organizations are increasingly aiming to adopt AI in their business activities. Researchers and practitioners have frequently emphasized the need for a better understanding of the underlying factors influencing the successful adoption of AI. This paper explores how an innovative culture influences AI attitudes and AI adoption. Additionally, the influence of happiness at work on this relationship is evaluated. The analysis is conducted through a quantitative survey completed by over 300 participants. The results reveal a significant positive influence of innovative culture on AI attitudes and therefore on AI adoption. However, AI attitudes fully mediate the effect of innovative culture on AI adoption intentions. Furthermore, the findings demonstrate no significant moderating effect of workplace happiness on the relationship between innovative culture and AI adoption. The outcomes of this study confirm previous research analyzing corporate culture’s influence on employee perceptions and their direct effect on behavioral intentions. In contrast to former research, this thesis establishes a connection between existing knowledge about innovative culture and AI usage. Future investigations should include an in-depth analysis of variables that might influence this relationship. Consideration could also be given to various possible mediating variables that influence the successful adoption of AI in organizations, like trust in AI.
- Interest rates and real estate dynamics : an analysis of property prices in advanced economiesPublication . Benincasa, Alessandro; Woschitz, JiriThis thesis investigates the relationship between government bond yields and residential property prices across several advanced economies. The study was carried out using different panel specifications to examine how this relationship changes when accounting for unobserved country-specific and time-specific factors. The significant negative correlation established through OLS and country fixed effects regressions is consistent with traditional economic theory, suggesting that higher bond yields (which usually lead to higher mortgage rates) dampen demand for housing and decrease property prices. However, when accounting for only time fixed effects, the model indicates a significant positive relationship, implying that when global trends are absorbed, other factors specific to each country may drive this outcome. Lastly, the two-way fixed effects regression shows a negative but non-significant association. Controlling for both country-specific and time-specific effects, the model absorbs much of the variability that can explain the relationship, leading to a weaker and statistically insignificant association. The results reveal a complex relationship between government bond yields and real estate prices. Through the analysis of this connection across multiple countries, this study addresses the literature’s gaps and provides insights to policymakers, investors, homeowners and the real estate industry.
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