Loading...
19 results
Search Results
Now showing 1 - 10 of 19
- Quantitizing qualitative data from semi-structured interviews: a methodological contribution in the context of public policy decision-makingPublication . Banha, Francisco; Flores, Adão; Serra Coelho, LuísThis paper presents a methodology involving the transformation and conversion of qualitative data gathered from open, semi-structured interviews into quantitative data—a process known as quantitizing. In the process of analysing the factors behind the different levels of success in the implementation of entrepreneurship education programs in two case studies, we came up with a challenge that became the research question for this paper: “How can we best extract, organize and communicate insights from a vast amount of qualitative information?” To answer it, we developed a methodology involving codifying, labelling, attributing a score and creating indicators/indexes and a matrix of influence. This allowed us to extract more insights than would be possible with a mere qualitative approach (e.g., we were able to rank 53 categories in two dimensions, which would have been impossible based only on the qualitative data, given the high number of pairwise comparisons: 1378). While any work in the social sciences will always keep some degree of subjectivity, by providing an example of quantitizing qualitative information from interviews, we hope to contribute to the expansion of the toolbox in mixed methods research, social sciences and mathematics and encourage further applications of this type of approach.
- Do analysts anticipate and react to bankruptcy? EvidencePublication . Coelho, Luís; Peixinho, RúbenFinance literature suggests that financial analysts are sophisticated agents that act as facilitators of market efficiency by releasing relevant information to the market. This paper uses a sample of four major US bankruptcies to explore if analysts are able to disclose information to the market that provides investors with material information for their investment decisions. In particular, we use a qualitative approach to analyse analysts’ reports in order to verify if these agents are able to predict financial and strategic bankruptcies before the event is publicly known. We also investigate how financial analysts react to bankruptcy shortly after it has become effective. Results show that investors cannot rely on analysts’ reports to anticipate corporate failure in both the case of financial and strategic bankruptcies. Our results also suggest that analysts react asymmetrically to strategic and financial bankruptcies shortly after this event is publicly known.
- Entrepreneurship education: a systematic literature review and identification of an existing gap in the fieldPublication . Banha, Francisco; Coelho, Luís; Flores, AdãoHaving identified the need to conduct research on the intersection between entrepreneurship education (EE) and public policies, we carried out a systematic literature review on decision-making processes regarding the implementation of education for entrepreneurship programs in schools and the introduction of this topic in the policy-making process. This SLR followed every process inherent to its well-established protocol. The research undertaken confirmed that the understanding of decision processes associated with the implementation of EE programs is not only a “missing link” in the discussions about the way in which countries manage situations related to EE, but also a gap in academic knowledge. Indeed, the SLR process included only nine articles in the final review (obtained through a methodology based on an algorithm)—which is a clear sign that further scientific research around this specific topic is needed. The articles included in the final review suggest that: (i) entrepreneurship is fundamental to the progress and evolution of countries and their regions, (ii) there is evidence that EE is central to a more entrepreneurial youth, and (iii) the successful implementation of recommendations from regulatory institutions is based on political commitment and implementation capacities.
- The financial impact of a withdrawn ISO 9001 certificatePublication . Cândido, Carlos; Coelho, Luís; Peixinho, RúbenThe purpose of this paper is to assess to what extent the loss of the ISO 9001 certification affects the decertified firms’ financial performance. Design/methodology/approach – Using standard event-study methods, this paper matches a sample of 143 Portuguese companies that lost their ISO 9001 certification with similar non-event counterpart firms (according to return-on-assets and size) and compares the performance of these two groups of firms using financial data collected from the AMADEUS database. Findings – Results show no statistical significant differences in the financial performance (as measured by return-on-assets, return-on-sales, and sales growth) between companies that lost their ISO 9001 certification and their matched firms. Although the literature suggests that certification improves firms’ performance and that the benefits of certification may last over long periods of time, this paper’s results suggest that, after decertification, companies do not exhibit over or underperformance in their operations vis-à-vis comparable firms that do not undergo the same event. Originality/value – As far as the authors are aware, this is the first study assessing the impact of ISO 9001 certificate withdrawal on the decertified firms’ financial performance.
- The impact of financial restatements on financial markets: a systematic review of the literaturePublication . FRAGOSO, JOÃO; Peixinho, Rúben; Coelho, Luís; Paiva, Inna C. S.Purpose - The purpose of this paper is to discuss the most relevant issues related to the impact of financial restatements in the dynamics of financial markets and identify several research gaps to be investigated in future research. Design/methodology/approach - The methodology is based on a systematic review of the literature described by Tranfield et al. (2003). The final sample includes 47 academic papers published from 1996 to 2019. Findings - Papers in this domain discuss three main topics: how the market prices the announcement of a financial restatement; how financial restatements affect the announcing firm's cost of capital and how financial restatements affect firms' reputation. There are several issues to explore in future research, including whether financial restatements affect the dynamics of financial markets in Europe, whether the market fully and promptly assimilates the information content of a restatement, the role of financial analysts' information disclosures in this process or how regulators may improve the way they provide investors with timely information about firms' restating problems. Research limitations/implications - There is always some degree of subjectivity in the definition of the keywords, search strings and selection criteria in a systematic review. These are all important aspects, as they delimitate the scope of the study and define the sample of papers to be reviewed. Practical implications - The answers to the research questions identified in this paper may provide regulators with information to improve financial accounting and reporting standards and strengthen investors' confidence in accounting information and the dynamics of financial markets. Originality/value - This paper systematically reviews the relevant literature exploring the connection between financial restatements and the dynamics of financial markets. It contributes to the academic community by identifying several research questions that may impact the theory and practice related to accounting quality and capital markets.
- A new conceptual framework and approach to decision making in Public PolicyPublication . Banha, Francisco; Flores, Adão; Coelho, LuísIn this conceptual paper, we bring forward a new theoretical proposition in the form of an Integrated Policy-Making Process Framework. This tool arose from the discussion and hypothesis that the main models used to analyse public policies have practical and theoretical limitations and/or are due for an update, especially when it comes to the study of phenomena with many actors involved, vast legislation, large timeframes, and high degrees of complexity. Our original model encompasses the three fundamental stages of the public policy cycle (agenda; decision making; implementation). Our approach can have a wide spectrum of applications and contribute to the field of knowledge of political sciences. Our proposal of using three frameworks in an integrated way enables researchers and users to gain a holistic vision concerning policy processes, and it offers the possibility to compare and rank categories. The Integrated Policy-Making Process Framework is thus proposed as a new tool to tackle research and studies on decision making in public policies and the policy-making cycle.
- Are security analysts rational? a literature reviewPublication . Peixinho, Rúben; Coelho, Luís; Taffler, Richard J.Rational choice theory and bounded rationality constitute the basis for the discussion in several areas regarding human rationality. In finance, this discussion has been made between traditional finance and behavioural finance approach, which have different perspectives concerning market agents’ rationality. This paper reviews several studies addressing rationality among security analysts. The analysis shows that analysts’systematic optimism seems to be inconsistent with rationality. The discussion of analysts’ optimism is made using two main theories for their biased behaviour: cognitive and economic-based explanations. We review literature on over-optimism, under and overreaction, economic incentives, herding behaviour and analysts’ preference to withhold unfavourable forecasts. The paper concludes with suggestions for further research.
- Earnings management in the hospitality industry: a systematic literature reviewPublication . Gonçalves, Beatriz; Coelho, Luís; Pinto, PatríciaThis paper aims to discuss the impact of Earnings Management (EM) practices in the hospitality industry and identify research gaps to be investigated in future research. The methodology is based on a systematic literature review (SLR), including 15 academic papers in the final sample, published from 2004 to 2021. There is clear evidence of EM practices in the hospitality industry, which are implemented through different techniques. Yet, several research gaps still persist. For instance, little is known about the EM behaviour of multinational hotel chains or private Small and Medium-sized Enterprises (SMEs), and we still do not know how such opportunistic behaviour is impacted by different variables. The recent COVID-19 pandemic also offers interesting future research opportunities. Despite the earnings management topic being widely explored in the literature, this SLR shows that the investigation of EM within the hospitality industry is very scarce. Nevertheless, since EM reduces the quality of financial reporting, these practices are a problem for investors, auditors, regulators and other stakeholders, who must rely on earnings disclosure to make decisions, which justifies the importance of its study.
- NUTS III as decision-making vehicles for diffusion and implementation of education for entrepreneurship programmes in the European Union: Some lessons from the portuguese casePublication . Banha, Francisco; Flores, Adão; Coelho, LuísThe questions of how Entrepreneurship Education (EE) initiatives can be successfully spread and what political structures can help with their implementation during compulsory school remain open. We will add to the literature by proposing that the scale of the NUTS III and its governance model/characteristics are ideal for carrying out initiatives related to EE in the EU and, thus, developing local entrepreneurship ecosystems. We will do so based on the evidence gathered from the case study of the Intermunicipal Community of Viseu Dão-Lafões. To underpin our main argument, we will explain the successful case of how the Intermunicipal Community of Viseu Dão-Lafões (a NUTS III) managed to become an exception in the Portuguese scenario when it comes to the funding, administrative articulation, and implementation of EE programmes for youths in the region.
- Análise da inserção profissional dos diplomados da FEUALG: 1999-2003Publication . Cândido, Carlos; Peixinho, Rúben; Coelho, Luís; Pereira, Renato NunoEstudo sobre a inserção profissional de graduados e diplomados da Faculdade de economia da Universidade do Algarve, entre 1999 e 2003, descritivo e baseado em inquérito realizado por correio ao universo. Concluiu-se terem os graduados e diplomados facilidade na sua inserção profissional.