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Percorrer Faculdade de Economia por Objetivos de Desenvolvimento Sustentável (ODS) "08:Trabalho Digno e Crescimento Económico"
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- Can sudden fluctuations in tourism demand influence the earnings management practices of the hotel industry? Evidence from PortugalPublication . Gonçalves, Beatriz; Serra Coelho, Luís Miguel; Pinto, PatríciaThis study examines how sudden shifts in tourism demand affect the Earnings Management (EM) strategies of hotel firms, using Portuguese companies as the study context. This paper uses accounting data from 490 non-listed Portuguese hotel firms collected from the ORBIS database over the 2016-2021 period. The presence of EM practices is investigated using the methodology developed by Burgstahler and Dichev (1997), while panel data regression is used to explore the impact of the COVID-19 pandemic on the sample firms' EM practices. Portuguese hotel firms use EM practices upward or downward depending on their starting position. In general, these firms tend to manipulate results in order to avoid reporting losses, a practice they intensify when faced with a sharp decline in demand. In particular, this paper finds that, during the recent pandemic period, such companies have aggressively used the discretionary component of accruals to disclose higher results. To the best of our knowledge, this is the first article exploring how a sudden decline in tourism demand affects the EM behaviour of firms operating in the hospitality sector. Our findings have important implications for such companies' stakeholders, especially investors and regulators.
- Certification, maintenance and decertification of standardised innovation management systems: Motivations, barriers and benefitsPublication . Mendes de Saboya , Liana; Candido, Carlos Joaquim Farias; Cesário, MarisaThe role of standardised innovation management systems (SIMS) in fostering organisational innovation has been largely overlooked in the literature. This study addresses this gap by investigating the certification, maintenance, and decertification of SIMS. Using a descriptive and inductive methodology, the research analyses primary data from 94 Portuguese organisations with certified SIMS. The findings reveal a strong prevalence of internal motivations for certification, low implementation obstacles, and significant benefits, suggesting that these firms have successfully internalised the SIMS standard into their innovation management processes. Maintenance motivations are also strong, particularly internal ones, which align well with the critical success factors for sustaining certification. The benefits of maintaining SIMS are substantial, particularly internal benefits, as initial external motivations for certification often evolve into internal maintenance motivations. Decertification motivations and propensity are weak among the sample firms. Expectations of negative performance impacts following potential decertification are also low, likely because these organisations have effectively internalised the SIMS standard. This study is the first to explore the maintenance and decertification of SIMS, providing evidence that SIMS can deliver substantial benefits, be efficiently maintained, and continuously enhance innovation and competitiveness. As a result, most organisations exhibit little interest in decertification. The findings offer significant contributions to research and provide actionable insights for practitioners, suggesting that innovation management systems can indeed be standardised with considerable benefits.
- Coagglomeration patterns in portuguese labour-intensive industries: complementarity and specialisation dynamicsPublication . Cesário, MarisaThe aim of this paper is to analyse the patterns of industrial agglomeration in Portugal in order to understand their underlying dynamics. Industries tend to be concentrated geographically, rather than due to random causes, natural advantages or Marshallian forces. Empirically, industry pairwise coagglomeration is measured using the Ellison and Glaeser (1997) metric, with the goal of understanding the complementarity versus specialisation dynamics behind the industrial geographic concentration in Portugal. It is concluded that the most prominent industrial clusters in Portugal are as follows: textiles and clothing, footwear and transport, each one having a different agglomeration dynamic. While some sectors tend to benefit more from the interdependencies along the value chain (meaning vertical industrial relationships, related to complementary dynamics), others are more vulnerable to labour pooling (more to do with horizontal industrial relationships and specialisation dynamics), and others to both. For policymakers, for instance, it is of great use to know exactly the right triggers as the success of any programme results from the suitability of the initiatives being financially supported.
- “E-migrantes” y las redes sociales digitales en la construcción de un espacio transnacional: el caso de los peruanos en PortugalPublication . Marques, João Filipe; Calla Jesús de Sousa, YeseniaEste artículo busca comprender la influencia de las redes sociales digitales (RSD) en la vida cotidiana de los inmigrantes. Se pretende entender de qué manera estas prácticas contribuyen a la construcción de un espacio transnacional, considerando que esta expresión se refiere al mantenimiento de lazos entre los inmigrantes y su país de origen, así como a la formación de vínculos con sus compatriotas que también viven en el extranjero. El artículo recurre al concepto de “e-migrantes” para designar a aquellos que, mediante el uso de tecnologías de la información y la comunicación (TIC), permanecen conectados entre sí y con su país de origen. Como caso empírico, se estudia a los inmigrantes peruanos residentes en Portugal. La pregunta de investigación fue la siguiente: ¿de qué forma la comunidad peruana que vive en Portugal utiliza las RSD? El artículo se centra en las prácticas que emergen de la apropiación de las plataformas digitales — en particular, la construcción de “comunidades virtuales” — a través de una metodología mixta que incluye el análisis de un conjunto de entrevistas semiestructuradas, una encuesta en línea y datos estadísticos sobre el uso de las RSD.
- Factors influencing the choice of the Algarve region as a tourist destination: does season matter?Publication . Barreira, Ana Paula; Cesário, MarisaThe dissimilar ways in which tourists assess the attributes of a tourism destination in different seasons is an issue scarcely addressed in the literature. Here, we show that the characteristics of a tourism destination (the Algarve region, Portugal) are rated differently in peak (summer) and off‐peak (autumn/winter) seasons. Nationality is decisive in explaining the different assessments between seasons of the factors that group subsets of 17 attributes of the tourism destination. In general, the factors that are rated higher by domestic tourists during the summer are the same as those that are rated higher by foreign tourists in the autumn/winter.
- From destination attributes to tourist satisfaction: novelty-seeking as a bridge between liminality and place attachmentPublication . Lança, Milene; Nobre Pereira, Luis; Silva, joão; Andraz, Jorge; Cunha Sousa Nunes, Rui JoséThis study analyses how destination attributes influence tourist satisfaction via perceived quality, price, and safety, and how these relationships differ by novelty-seeking orientation. Framed at the intersection of liminality and place attachment, novelty-seeking is conceptualised as the behavioural mechanism linking extraordinary experiences to emotional bonds with place, offering the first empirical integration of these frameworks in tourism research. Using data from 1,488 tourists visiting the Algarve (Portugal) in 2022–2023 and Partial Least Squares Multigroup Analysis (PLS-MGA), the results show that for conservative tourists, destination attributes enhance perceived quality, lower perceived prices and safety concerns, and increase satisfaction. For adventurous tourists, satisfaction is driven mainly by perceived price and is negatively affected by in situ safety concerns, indicating that novelty-seekers do not uniformly discount risk. The findings highlight how novelty-seeking conditions cognitive pathways to satisfaction and inform market segmentation strategies aligned with distinct motivational orientations.
- Impression management, government agencies' regulation and analyst forecasts: empirical evidence from an emerging marketPublication . Castro, Lívia Arruda; Ponte, Vera; Viana Junior, Dante Baiardo C.Purpose- This study aims to investigate the relationship between government agencies' regulation and analyst forecasts in an emerging market and whether this relationship is mediated by impression management in earnings press releases.Design/methodology/approachThe sample consists of 1,816 quarterly observations of Brazilian listed firms from 2003 to 2021, based on data from Thomson Reuters (R). The impression management of the sample firms is obtained by analyzing their earnings releases using the Watson Natural Language Understanding (NLU) platform developed by IBM (R). We employ a manual firm-level classification procedure to detect regulated and non-regulated firms by government agencies.FindingsBased on structural equation modeling, the findings suggest that firms regulated by government agencies present, on average, lower levels of impression management in earnings press releases. Additionally, we find that the level of firms' impression management, in turn, is negatively related to analyst forecast errors. These empirical results indicate that impression management in earnings press releases is a crucial mediating channel between government agencies' regulation and analyst forecast errors. Moreover, we find that government agencies' regulation has a positive and direct effect on analyst forecast errors, possibly due to its impact on other firm-level incentives and market dynamics, which may be positively or negatively associated with analyst forecasts.Originality/valueThis study contributes to the previous literature on the relationship between government agencies' regulation and analyst forecasts by theoretically discussing and empirically analyzing the mediating role of impression management as an important factor in this relationship, exploring the various facets through which state regulation ends up changing the structure of the informational environment in which companies are located. An important debate for the emerging markets literature is also provided, and policy discussions are featured.
- Innovation dynamics and resilience: a crucial agenda for the future of regional studies and policyPublication . Pinto, HugoHugo Pinto develops the concept of the ‘resilience of innovation’, which links ideas about innovation dynamics and resilience to anticipate how regions might respond to external shocks or systemic failures in the economy and environment.
- Innovation in firms, resilience and the economic downturn: insights from CIS data in PortugalPublication . Pinto, Hugo; Pereira, Tiago Santos; Uyarra, ElviraThere is an interest in understanding the effect of economic crises such as the one that hit the financial markets in the late 2000s, on the innovation performance of countries and regions. This paper introduces the concept of “resilience of innovation” to illustrate how the economic slowdown affects firms' behaviour in terms of their ability to maintain and develop innovative activities and deploy product and process innovation. Using Portugal as a case study—an EU member-state that was heavily affected by the economic downturn—this paper explores the data collected from four waves of the Community Innovation Survey from 2006 to 2012. It presents two-stage limited dependent variable models to understand the changing impacts of structural factors, innovative activities and strategies in terms of exploration and exploitation of knowledge on the development of product and process innovation. We find knowledge exploration to be particularly important for product innovation, while exploitation is a strong determinant for process innovation. Size, market knowledge sources and public funding for innovation are positively associated with both types of innovation in the peak of the crisis. This reiterates the importance of innovation support efforts to mitigate the effects of economic shocks and boost recovery.
- Minute city concept for healthy tourism during the COVID-19 pandemic crisis. who for? The city of Lagos, PortugalPublication . Pires Rosa, Manuela; Lopes, Ana; Aghaeizadeh, Esmaeil; Gomes, André; Andraz, JorgeUrban spatial organization provided an important contribution for healthy tourism in the first COVID-19 pandemic period. The 15-Minute City concept promotes walking which is essential for the development of outdoor activities for a healthier tourism. The tourist city of Lagos (Portugal) is a pilot city of the Interreg Med SuSTowns Project which aims to promote sustainable and resilient territories. This study presents an analysis of the pedestrian accessibility through a specific geographical indicator: the percentage of short-term rentals existing in the surrounding tourist attractions. Ideal standard distances, studied internationally, were considered to assess this close proximity. Different walking speeds were considered to address human diversity and their implications on the 15-Minute City concept. The functionalities of the geographic information systems, in particular the assessment of distances over the pedestrian network were used. The results indicate that in the city of Lagos there is a trend towards an effective 15-Minute City for healthy tourists, promoting walking which could enhance tourism attraction. For tourists with reduced mobility, the use of accessible public transportation is required and needs to be integrated in the 15-Minute City concept.
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