CEGE - Contribuições em Revistas Científicas / Contribution to Journals
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- The effect of IFRS 9 on comparabilityPublication . Cardoso Fontes, Joana; Panaretou, Argyro; Shakespeare, CatherineThis study examines the impact of IFRS 9 adoption on accounting comparability in the banking industry. Our findings indicate that overall the adoption of IFRS 9 is associated with a decrease in accounting comparability. The adoption of the expected credit loss model is identified as the primary driver of reduced comparability, while we provide some evidence that IFRS 9 classification and measurement framework and IFRS 9 hedge accounting rules are associated with an increase in comparability. Although we document a decline in comparability during our sample period, we do not draw conclusions on the long-term impact of the expected credit loss model on comparability or its effect on the informativeness of accounting numbers.
- Cultural contrasts in vegan food choice: a multi-methods comparative analysis of consumption values in Portugal and IndiaPublication . Duarte, Paulo; Meneses, Raquel; Silva, Susana C.; Tharakan, Riya RoyThis study examines the impact of consumption values on vegan food purchase intentions through a cross-cultural comparison between India and Portugal, two culturally distinct countries with divergent food traditions and value systems. Using the Theory of Consumption Values (TCV) as the framework, we analyze how functional, emotional, social, epistemic, conditional, and ecological values impact vegan purchasing decisions. We utilize both Partial Least Squares Multigroup Analysis (PLS-MGA) and Necessary Condition Analysis (NCA) on 394 responses collected via self-administered surveys. Results show significant differences across countries: Indian consumers are primarily influenced by functional price, conditional, and emotional values, while Portuguese consumers tend to rely more on epistemic and functional quality. Notably, ecological value appears as a key predictor in both contexts. NCA results indicate that several values—particularly ecological, conditional, and functional price—are necessary (but not sufficient) for vegan food purchase intention. These findings challenge the TCV’s assumption of additive and interchangeable value contributions, highlighting the importance of necessity-based reasoning in consumption choices. This study contributes theoretically by expanding TCV with ecological value and methodologically by incorporating NCA. Practically, it provides actionable insights for marketers seeking to promote vegan consumption in culturally diverse markets.
- Marshall and the notions of welfare and value in the Cambridge traditionPublication . Martins, Nuno OrnelasThis article analyses the notions of welfare and value in the contributions of Alfred Marshall, and how they were developed or criticised within the Cambridge economic tradition, especially by authors like Piero Sraffa and Amartya Sen, who, like Marshall, saw themselves as continuators of classical political economy (albeit with different interpretations of the latter). The analysis is conducted drawing on the stratified ontology adopted in critical realism. It is argued that contributors developing or criticising Marshall placed their emphasis on different aspects, which can be fruitfully identified in terms of the critical realist stratified ontology, depending both on their analytical purposes and strategic intentions when engaging in academic debate. The distinction between welfare and value is also shown to be essential to the Cambridge economic tradition, and its stance towards modes of socio-economic organisation.
- The role of managers in driving effective paid media strategies in an advertising agencyPublication . Silva, Susana Costa e; Oliveira, Bianca Sofia; Lemos, Francisco FigueiraPurpose: This paper develops a practical model for the critical activities of the paid media manager in driving the successful implementation of digital paid advertising campaigns. Originality/value: Based on previous articles about the revolution in the advertising sector through digital and social media (Araújo et al., 2020; Helberger et al., 2020; Liu-Thompkins, 2019), the study responds to latent calls for further research on the roles and skills required by advertising professionals in the face of the digital transformation of advertising practices. In addition, we also related these professionals’ skills to the campaigns’ perceived success. Design/methodology/approach: We undertook a qualitative multi-case study, conducting semi-structured interviews involving paid media firms investing in digital advertising. The interviews were analyzed using the Gioia Methodology to ensure qualitative rigor in performing inductive research.Findings: We found that paid media managers must challenge client briefings, collaborate with creative teams, and dynamically adjust campaign elements for optimization. The key skills must include technical proficiency, information management, critical thinking, creativity, collaboration, and communication. Successful implementation leads to efficient targeting, real-time content adaptation, and cost-effectiveness. The study offers a roadmap for advertising agencies to effectively implement digital ad campaigns, namely from the recruiting and continuous upskilling of Paid Media Managers by identifying their critical roles to the businesses’ assistance in allocating advertising budgets more effectively by providing a thorough understanding of the benefits inherent in digital advertising investments.
- Teaching and learning with artificial intelligencePublication . Magalhães, Andreia; Andrade, AntónioArtificial Intelligence (AI) has significant potential to revolutionize teaching and learning methods by providing innovative tools that personalize teaching and make the learning process more efficient. In this way, it is possible to create dynamic scenarios more easily, promoting the evolution of teaching towards a model based on the development of skills, which requires students to perform more actively. Considering that, between 2023 and 2024, Gartner places Generative AI at the peak of inflated expectations in its Hype Cycle, it becomes pertinent to analyze how learning and teaching with AI during this period. In this context, this work aims to conduct a scoping review using the Scopus database, covering the aforementioned period. The data obtained will be subjected to a content analysis, with the purpose of investigating the added value of AI in the way learning and teaching are carried out.
- OECD labour share trends: factor efficiency vs. market distortions in a neoclassical frameworkPublication . Rio, Fernando del; Rebelo, FranciscoWe find that, for the vast majority of the 29 OECD countries, capital efficiency has declined, while labour efficiency has increased. Moreover, capital and labour exhibit a relatively high degree of complementarity. On average, countries with a larger relative decline in capital efficiency have also experienced a greater decline in the labour share. This pattern is consistent with the neoclassical theory of functional income distribution: if capital and labour are gross complements, a decline in the relative efficiency of capital reduces the demand for labour, thereby lowering equilibrium wages and the labour share. In some countries — including the United States, the United Kingdom and Australia — this mechanism can accurately account for much of the observed evolution in the labour share, while in others — including the three largest European economies (Germany, France and Italy) — market frictions and distortions affecting labour demand have played a more prominent role. Policies aimed at halting the decline in capital efficiency, or mitigating market frictions and distortions, can therefore enhance productivity and support wage growth.
- Unlocking predictive potential: the frequency-domain approach to equity premium forecastingPublication . Faria, Gonçalo; Verona, FabioThis paper explores the out-of-sample forecasting performance of 25 equity premium predictors over a sample period from 1973 to 2023. While conventional time-series methods reveal that only one predictor demonstrates significant out-of-sample predictive power, frequency-domain analysis uncovers additional predictive information hidden in the time series. Nearly half of the predictors exhibit statistically and economically meaningful predictive performance when decomposed into frequency components. The findings suggest that frequency-domain techniques can extract valuable insights that are often missed by traditional methods, enhancing the accuracy of equity premium forecasts.
- The garage in entrepreneurship and innovation: four archetypesPublication . Cunha, Miguel Pina e; Sarkar, Soumodip; Rego, Arménio; Gaim, MedhanieThis paper explores the role of the garage in entrepreneurship and innovation. By engaging sociomaterial and symbolic views, it develops a typology that aims not to repeat an overly romantic view of the garage as the space where lone heroic entrepreneurs start their ventures in idealized seclusion from the rest of humanity nor to dismiss it as a flawed, useless idea. By discussing four archetypes, the paper complexifies the notion of the garage as a space that can be material as well as symbolic and proposes how organizations can recreate ‘garages’ in their habitual workspaces.
- The economics of structured leasingPublication . Pinto, João M.; Pacheco, Luís K.This paper provides details on the characteristics of structured leasing transactions and surveys the existing theoretical and empirical research. A structured leasing is a new and highly flexible transaction that develops synergies between funding policy, risk management of the underlying assets, and tax benefits. It is used in particular transactions involving complex and large-scale assets, such as airplanes, ships, industrial plant and equipment, and large real estate projects. The existing literature shows that structured leasing creates value by increasing liquidity and funding, reducing the funding costs, allowing sponsors to attain greater leverage and to increase tax shields, improving lessees’ risk management, and allowing lessees to maintain financial flexibility, by improving or maintaining financial ratios. However, structured leasing deals also have disadvantages. The most commonly reported drawbacks in the literature are complexity, off-balance sheet treatment, higher transaction costs than straight leasing transactions, and wealth expropriation.
- Qual o valor económico do trabalho voluntário? O caso das colectividades de cultura, recreio e desporto em PortugalPublication . Santos, Joana; Mendes, Américo M. S. CarvalhoO estudo focou-se no trabalho voluntário exercido durante o ano de 2011 nas coletividades de cultura, recreio e desporto - o maior grupo das organizações de economia social (INE, 2012), e um dos três tipos de organizações com a maior percentagem de voluntários entre os seus colaboradores (OEFP, 2008). A metodologia adoptada foi a recomendada no Manual on the measurement of volunteer work (ILO, 2011), chamada 'custo de reposição'. Esta metodologia consiste em calcular o valor (salarial) que seria necessário pagar se o mesmo trabalho que é feito por voluntários fosse feito por trabalhadores remunerados. Com este estudo é possível dizer que se estima que durante o ano de 2011 foram praticadas 147.335 horas de trabalho voluntário nas coletividades filiadas na Confederação Portuguesa das Coletividades de Cultura Recreio e Desporto (CPCCRD). Isto é o equivalente ao trabalho de 25 a 33 mil trabalhadores equivalentes a tempo inteiro (ETI), que corresponde a 0,5% dos postos de trabalho em Portugal, valorado em mais de 300 milhões de euros (pelo método 'custo de reposição'). Para o total das coletividades em Portugal - 26.779 – estima-se que o trabalho voluntário praticado no ano de 2011 seja o equivalente a mais de 350 mil postos de trabalho a tempo inteiro, o que equivale a mais de 6% do total de postos de trabalho em Portugal, e valorado em mais de 2,7 mil milhões de euros.