19 results on '"João, Rebelo"'
Search Results
2. Does Wine Quality Have a Bearing on Exports?
- Author
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João Rebelo, Anthony Macedo, Alto Douro, Vila Real, Portugal, and Sofia Gouveia
- Subjects
gravity model ,Wine ,Middle East ,vertical differentiation ,media_common.quotation_subject ,market segmentation ,Economics, Econometrics and Finance (miscellaneous) ,Geography, Planning and Development ,Central asia ,International economics ,Management, Monitoring, Policy and Law ,Export performance ,Agricultural and Biological Sciences (miscellaneous) ,language.human_language ,Gravity model of trade ,Douro wine ,language ,Economics ,Quality (business) ,Portuguese ,media_common ,Agribusiness - Abstract
This study examines the macroeconomic determinants of exports, taking quality into account through vertical differentiation and using data on Portuguese Douro wines. Based on a gravity model from 2006 to 2015 and covering a range of 192 potential trade partners, estimations show that quality influences export performance. However, quality differences are not assimilated in the same way in all international markets, resulting in an export surplus of the best categories of wine to some world regions (West Europe and AngloSaxon countries) and a correspondingly export deficit to other regions (Middle East, North Africa, East Europe and Central Asia).
- Published
- 2019
3. Horizontal Differentiation and Determinants of Wine Exports: Evidence from Portugal
- Author
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Sofia Gouveia, Anthony Macedo, and João Rebelo
- Subjects
Wine ,05 social sciences ,Purchasing power ,Horticulture ,General Business, Management and Accounting ,Port (computer networking) ,language.human_language ,Internationalization ,Horizontal differentiation ,Gravity model of trade ,0502 economics and business ,language ,050202 agricultural economics & policy ,Economic geography ,Business ,050207 economics ,Portuguese ,Fortified wine ,Food Science - Abstract
Assuming horizontal differentiation and using an expanded gravity model, the main objective of this article is to assess the determinants of Portuguese wine exports. Horizontal differentiation is considered, with still and fortified wines being distinguished, as well as three distinct designations of origin: Vinho Verde, Douro, and Port wines. The results from the period between 2006 and 2016 suggest that wineries and private and public agencies should focus their commercial and policy efforts on countries with high purchasing power and/or with great potential for growth, regardless of whether the customs costs are higher. Moreover, it is concluded that horizontal differentiation influences the export determinants, suggesting there should exist different internationalization strategies for distinct types of wine. (JEL Classifications: F10, F14, L66)
- Published
- 2019
4. Covid-19 lockdown and wine consumption frequency in Portugal and Spain (Article replaced)
- Author
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Vicente Pinilla, Samuel Faria, Katrin Simón-Elorz, Tânia Gonçalves, Raúl Compés, João Rebelo, FEDER-Interreg, FCT-Portuguese Foundation for Science and Technology (SOE3/P2/F0917), FCT (UIDB/SOC/04011/2020), MICIU, Spain, and Government of Aragon
- Subjects
Wine ,Consumption (economics) ,Agricultural economics ,wine economics ,Coronavirus disease 2019 (COVID-19) ,05 social sciences ,consumer behaviour ,Ordered probit ,psychological factors ,language.human_language ,wine economics, consumer behaviour ,psychological factors, probit regression ,probit regression ,03 medical and health sciences ,0302 clinical medicine ,Cultural diversity ,0502 economics and business ,language ,050211 marketing ,Demographic economics ,030212 general & internal medicine ,Portuguese ,Psychology ,Agronomy and Crop Science - Abstract
This article was published on 6 June 2021. It was replaced on 28 June 2021 in: https://doi.org/10.5424/sjar/2021192R-17697Aim of study: This study aims to analyse how psychological factors related to the Covid-19 lockdown affected the frequency of wine consumption among Iberian consumers.Area of study: To achieve this goal, we used data collected from an online survey in Europe comprising 4489 observations from Portuguese and Spanish samples.Material and methods: Using an ordered probit model, we analysed the wine consumption frequency as a function of a set of explanatory variables related to psychological factors and also sociodemographic variables, motivation-related variables and consumption characterisation.Main results: For Spanish respondents the fear of isolation was a decisive factor in increasing the probability of a higher frequency of wine consumption. Meanwhile, in Portugal, the fear of an economic crisis was the psychological factor leading to a higher consumption frequency.Research highlights: In both countries, psychological factors influenced the frequency of wine consumption during the lockdown due to Covid-19. However, the impact of the Covid-19 crisis has been felt differently in Spain and Portugal. Differences can be observed in both psychological and behavioural attitudes that have influenced the frequency of wine consumption and could also indicate significant cultural differences.
- Published
- 2021
5. A hedonic price analysis for the Portuguese wine market: Does the distribution channel matter?
- Author
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Jose Vaz Caldas, Tânia Gonçalves, Lina Lourenço-Gomes, and João Rebelo
- Subjects
distribution channel ,quantile regression ,Distribution (economics) ,lcsh:HD72-88 ,lcsh:Economic growth, development, planning ,lcsh:Economic history and conditions ,Price analysis ,0502 economics and business ,Econometrics ,Economics ,wine pricing ,050207 economics ,Wine ,geography ,050208 finance ,geography.geographical_feature_category ,business.industry ,Core component ,hedonic analysis ,05 social sciences ,language.human_language ,Quantile regression ,language ,lcsh:HC10-1085 ,Portuguese ,business ,General Economics, Econometrics and Finance ,Channel (geography) - Abstract
Price is a core component of both wine firms’ and consumers’ decision-making and so there has been a lot of analysis of the determinants of wine price. Most of the research has used the hedonic price function and assumed that the wine market is homogeneous with respect to both distribution channel and price segments. In this paper, a hedonic price function is estimated using data from a specialist retailer and a large supermarket, i.e., retailers in two different consumer market segments, niche and mass market, respectively. We conclude that the wine market is heterogeneous, and the importance of the various price determinants differs between distribution channels and, in the case of the specialist retailer, throughout the conditional statistical distribution of the price. This result may help the wine companies to place themselves in the market value chain.
- Published
- 2019
6. Covid-19 lockdown and wine consumption frequency in Portugal and Spain
- Author
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Katrin Simón-Elorz, Samuel Faria, Tânia Gonçalves, Raúl Compés, Vicente Pinilla, João Rebelo, Universidad Pública de Navarra / Nafarroako Unibertsitate Publikoa. Inarbe - Institute for Advanced Research in Business and Economics, Universidad Pública de Navarra. Departamento de Gestión de Empresas, Nafarroako Unibertsitate Publikoa. Enpresen Kudeaketa Saila, FEDER-Interreg, FCT-Portuguese Foundation for Science and Technology (SOE3/P2/F0917), FCT (UIDB/SOC/04011/2020), MICIU, Spain, and Government of Aragon
- Subjects
wine economics ,media_common.quotation_subject ,consumer behaviour ,Ordered probit ,psychological factors, probit regression ,psychological factors ,Psychological factors ,wine economics, consumer behaviour ,Probit model ,Probit regression ,Consumer behaviour ,media_common ,Agricultural economics ,Consumption (economics) ,Wine ,Public economics ,Agriculture ,Purchasing ,language.human_language ,probit regression ,Feeling ,language ,Additional wine economics ,Business ,Portuguese ,Agronomy and Crop Science - Abstract
Aim of study: this study aims to analyse how psychological factors related to the Covid-19 lockdown affected the frequency of wine consumption among Iberian consumers. Area of study: to achieve this goal, we used data collected from an online survey in Europe comprising 4489 observations from Portuguese and Spanish samples. Material and methods: Using an ordered probit model, we analysed the wine consumption frequency as a function of a set of explanatory variables related to psychological factors and also sociodemographic variables, motivation-related variables and consumption characterisation. Main results: for Spanish respondents the fear of isolation was a decisive factor in increasing the probability of a higher frequency of wine consumption. Meanwhile, in Portugal, the fear of an economic crisis was the psychological factor leading to a higher consumption frequency. Research highlights: in both countries, psychological factors influenced the frequency of wine consumption during the lockdown due to Covid-19. However, the impact of the Covid-19 crisis has been felt differently in Spain and Portugal. Differences can be observed in both psychological and behavioural attitudes that have influenced the frequency of wine consumption and could also indicate significant cultural differences. FEDER – Interreg SUDOE, VINCI – Wine, Innovation and International Competitiveness SOE3/P2/F0917; FCT – Portuguese Foundation for Science and Technology UIDB/SOC/04011/2020; Ministry of Science, Innovation and Universities, Spain ECO2017-86054-C3-2-R; PGC2018-095529-B-I00; European Social Fund and the Government of Aragon Research Group S55_20R
- Published
- 2021
7. Consumer preferences and purchasing rationales for wine: a multivariate data analysis
- Author
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Lina Lourenço-Gomes, Philippe Baumert, Carla Ferreira, Elisete Correia, Christine Plumejeaud, and João Rebelo
- Subjects
0301 basic medicine ,lcsh:HF1021-1027 ,Economics and Econometrics ,Multivariate analysis ,wine economics ,Geography, Planning and Development ,03 medical and health sciences ,Market segmentation ,0502 economics and business ,Relevance (information retrieval) ,Marketing ,lcsh:Agriculture (General) ,lcsh:Environmental sciences ,Wine ,Consumption (economics) ,lcsh:GE1-350 ,wine consumers ,030109 nutrition & dietetics ,multivariate statistical techniques ,05 social sciences ,market segmentation ,Agricultural and Biological Sciences (miscellaneous) ,lcsh:S1-972 ,Purchasing ,language.human_language ,Product (business) ,lcsh:Commercial geography. Economic geography ,language ,050211 marketing ,Business ,Portuguese - Abstract
The wine market is very heterogeneous and complex, being the knowledge of the behaviour and attitudes of consumers a key tool to design efficient marketing plans, namely in countries that are traditionally wine producers and consumers, such as Portugal. In this country, Port wine is an economic and cultural icon, but, in the last decade, total sales have been decreasing. Despite this trend the domestic consumption has been gaining relevance and therefore a focus to reverse the negative cycle of total sales. The main goal of this paper is to analyse the profile and behaviour of domestic Port wine consumers, identifying homogeneous market segments. For this purpose, an online survey was applied and random sample of 678 Portuguese Port wine consumers was collected. Using multivariate statistical techniques, three profiles of purchasers/consumers emerged: experienced, less experienced and inexperienced consumers. This segmentation shows that Port wine consumers can be grouped according to their involvement with the product, consumption occasion and price they are willing to pay. In addition to the academic contribution of wine market segmentation, the paper provides useful insights to be used in designing marketing plans, both by institutional stakeholders and wineries.
- Published
- 2020
8. Transient and Persistent Efficiency and Spatial Spillovers: Evidence from the Portuguese Wine Industry
- Author
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Samuel Faria, João Rebelo, Alexandre Guedes, and Sofia Gouveia
- Subjects
Productive efficiency ,L25 ,Economics, Econometrics and Finance (miscellaneous) ,Closeness ,L66 ,spatial econometric analysis ,Development ,panel data ,ddc:330 ,Econometrics ,Economics ,Production (economics) ,Spatial dependence ,HB71-74 ,Novelty ,Function (mathematics) ,language.human_language ,Economics as a science ,wineries ,language ,Portuguese ,transient and persistent efficiency ,location ,C23 ,D22 ,Panel data - Abstract
This paper investigates the presence of spatial spillovers in firms’ productive (in)efficiency. For this purpose, a spatial stochastic frontier model is specified and estimated, accounting for spatial dependence and persistent and transient (in)efficiency. This approach is applied to a panel dataset from 2014 to 2019 of Portuguese wineries. Apart from the traditional input and output quantities used in the estimation of a production function, the novelty of this study is the inclusion of information on the firms’ exact location, which allows incorporating the neighboring dependence in the productive efficiency analysis. Empirical findings show that despite the Portuguese wineries’ technological positive dependence on spatial closeness for both inputs and outputs, the geographic closeness is not strong enough to provide overall productive efficiency gains.
- Published
- 2021
9. Management and financial performance of agricultural cooperatives: a case of Portuguese olive oil cooperatives
- Author
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Carmem Teresa Leal, Ânia Raquel Dionísio Teixeira, and João Rebelo
- Subjects
indicadores económicos y financieros ,Economics and Econometrics ,finanzas corporativas ,Cooperativas ,0502 economics and business ,análisis multicriterio PROMETHEE ,financial indicators ,cooperativismo ,Financial performance ,Administración de empresas ,05 social sciences ,Finanzas ,language.human_language ,Traditional cooperatives ,Geography ,governance ,PROMETHEE multicriteria approach ,language ,050202 agricultural economics & policy ,Portuguese ,Cartography ,Humanities ,050203 business & management ,Social Sciences (miscellaneous) ,Olive oil - Abstract
In Portugal, as in other countries, agricultural cooperatives have an important economic role in the food system. Similar to other economic organisations, agricultural cooperatives have witnessed structural changes in recent decades in terms of governance and/or management models. Portuguese agricultural cooperatives have been compelled by their context to adopt a traditional model of ownership and control. The main goal of this study was to analyse issues related to the management structure and financial performance of cooperatives, based on data collected for olive oil cooperatives located in the northern interior region of Portugal. Combining a qualitative analysis of structure and decision-making, a financial assessment and the application of a multi-criteria approach (PROMETHEE II), the overall results are in line with expectations (e.g. low levels of member participation, nonprofessional management, low profitability ratios, low leverage and an ability to fulfil financial commitments), except for the relationship between professional management and financial performance. The existence of professional management does not lead to better financial performance. This result reinforces the belief that cooperatives that are structured differently have different and conflicting stakeholder interests En Portugal, como en otros países, las cooperativas agrícolas tienen un papel económico importante en el sistema alimentario. Similar a otras organizaciones económicas, las cooperativas agrícolas han sido testigos de cambios estructurales en las últimas décadas en términos de modelos de gobernación y gestión. Las cooperativas agrícolas portuguesas se han visto constreñidas por su contexto a adoptar un modelo tradicional de propiedad y control. El objetivo principal de este estudio era analizar cuestiones relacionadas con la estructura de gestión y desempeño financiero de las cooperativas, basada en los datos recogidos de cooperativas de aceite de oliva situadas en la región interior norte de Portugal. La combinación de un análisis cualitativo de la estructura y toma de decisiones, una evaluación financiera y la aplicación de un enfoque en varios criterios (PROMETHEE II), los resultados están en línea con expectativas (por ejemplo, bajos niveles de participación de los miembros, gestión no profesional, ratios de rentabilidad bajos, bajo apalancamiento y una capacidad para cumplir compromisos financieros), excepto la relación entre la gestión profesional y el desempeño financiero. La existencia de gestión profesional no conduce a mejores resultados financieros. Este resultado refuerza la creencia de que las cooperativas que están estructuradas de diferente manera tienen intereses diferentes y contradictorios a las partes interesadas.
- Published
- 2016
10. Wine Firm’s Size and Economic Performance: Evidence from Traditional Portuguese Wine Regions
- Author
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AnaAlexandra Marta-Costa, Sofia Gouveia, Lina Lourenço-Gomes, and João Rebelo
- Subjects
Wine ,0502 economics and business ,05 social sciences ,language ,050202 agricultural economics & policy ,Business ,Economic geography ,Portuguese ,GeneralLiterature_REFERENCE(e.g.,dictionaries,encyclopedias,glossaries) ,050203 business & management ,language.human_language - Published
- 2018
11. DIFFERENCES IN PORTUGUESE CREDIT INSTITUTIONS' LENDING AND INVESTMENT BEHAVIOUR IN A TIME OF SLUMP
- Author
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Paula Cabo and João Rebelo
- Subjects
Economics and Econometrics ,Sociology and Political Science ,Credit reference ,Financial system ,Business model ,Investment (macroeconomics) ,language.human_language ,Market economy ,Credit history ,Property rights ,language ,Economics ,Credit crunch ,Portuguese - Abstract
The purpose of this paper is to investigate the influence of the different property rights models of credit institutions (public, private, cooperative or mutual) in their credit policy and investment behaviour and in response to the current crisis and regulatory framework adjustments. Taking Portuguese credit institutions as the object, it concludes that overall banksâ business models are qualitatively identical and their lending and investment behaviours are similar, except for the saver profile of cooperative banks and the deeper focus on loans to customers to the detriment of financial investments of the mutual savings banks. Moreover, the reactions to the crisis were equivalent, except for the state-owned banks, which presented the most favourable reaction, albeit not deep enough to be significant.
- Published
- 2015
12. International demand for the Douro (Portugal) river cruises: a gravity model approach
- Author
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Sofia Gouveia, Lina Lourenço-Gomes, Alexandre Guedes, and João Rebelo
- Subjects
gravity model ,international demand ,Population size ,05 social sciences ,Geography, Planning and Development ,Cruise ,Per capita income ,river cruises ,language.human_language ,Agricultural economics ,panel data ,Geography ,Gravity model of trade ,Tourism, Leisure and Hospitality Management ,0502 economics and business ,language ,Period (geology) ,050207 economics ,Portuguese ,050212 sport, leisure & tourism ,Tourism ,Pace - Abstract
Cruises on the Portuguese Douro river have been growing at a much faster pace than overall outbound tourism to Portugal, suggesting that the river is part of a worldwide trend that has been organized by global cruise operators. A gravity model is used to analyse the main factors affecting the international demand for Douro river cruising over the period from 2007 to 2014. The numbers of international passengers are positively determined by income per capita of origin country and by the population size of the leading countries of outbound tourism to Portugal.
- Published
- 2017
13. The Douro wine region: a cluster approach
- Author
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Jose Vaz Caldas and João Rebelo
- Subjects
Wine ,Horticulture ,Disease cluster ,language.human_language ,Competition (economics) ,Globalization ,Economy ,language ,Economic geography ,Business ,Viticulture ,Portuguese ,Food Science ,Terroir ,Wine industry - Abstract
The globalization of the wine industry needs to be perceived as a challenge and an opportunity to innovate by traditional European producers’ countries, like Portugal, characterized by a terroir model, that is, an economic structure supported by a large number of grape growers, small and medium wine firms and high public regulation, to compete in international markets. Using a cluster approach, this article presents the case of the most important Portuguese wine region, the Demarcated Douro Region (DDR), which is a strong reference of terroir and known for producing Port wine. To increase its competitiveness in the world wine market, the DDR needs to evolve from an organized to an innovative cluster.
- Published
- 2013
14. The Economic Role of the Portuguese Agricultural Cooperatives
- Author
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Jose Vaz Caldas and João Rebelo
- Subjects
Economics and Econometrics ,Economic policy ,business.industry ,Corporate governance ,General Social Sciences ,Forestry ,institutional environment ,lcsh:S1-972 ,language.human_language ,Agricultural marketing ,Transactional leadership ,Agriculture ,Financial crisis ,language ,Position (finance) ,Portuguese agricultural cooperatives ,Business ,lcsh:Agriculture (General) ,Economic system ,Portuguese ,Agronomy and Crop Science ,internal governance ,Agribusiness - Abstract
Since 2008 Portugal began to be influenced by a financial crisis, public budget troubles and an economic crisis. In line with the new economic paradigm within the EU, is publicly acknowledged that the overcoming of this crisis should be based on the production of transactional goods, where the agricultural sector deserves a special attention. The objective of this paper is to analyze the economic role of the Portuguese agricultural marketing cooperatives, including an overview of the Portuguese agricultural sector, the typology of Portuguese cooperatives and position in the agro food chain, the institutional environment, internal governance and performance of the agricultural cooperatives.
- Published
- 2015
15. Wine and cultural heritage: The experience of the Alto Douro Wine Region
- Author
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João Rebelo, Lígia Pinto, and Lina Lourenço-Gomes
- Subjects
Wine ,Urban agglomeration ,Cultural landscape ,Mosaic (geodemography) ,lcsh:HD9000-9495 ,Wine economics ,15. Life on land ,Visitors' preferences ,language.human_language ,Cultural heritage ,Geography ,Environmental protection ,Regional science ,language ,ddc:330 ,lcsh:Agricultural industries ,Portuguese ,Visitors׳ preferences ,General Economics, Econometrics and Finance ,Tourism ,Terroir - Abstract
The Demarcated Douro Region is one of the oldest demarcated wine regions, and the largest and the most heterogeneous mountainous wine region in the world. Viticulture covers 44,000ha, and since 2001 an area covering 24,600ha has been designated as the most representative territory of the Demarcated Douro Region, the Alto Douro Wine Region. This region is included in the list of World Heritage Sites as an evolving and living cultural landscape. The Demarcated Douro Region fits the terroir model, as its economy is based on wine (Porto wine and Douro still wines), supplemented by tourism. During recent decades, both activities have witnessed deep and structural changes, with consequences for the maintenance of the traditional characteristics of the cultural landscape that drove the UNESCO classification. With this issue in mind, the goal of this paper is to describe the recent evolution of the main economic activities of the Demarcated Douro Region. In particular, we aim to deepen the knowledge about the preferences of Portuguese visitors towards the Alto Douro Wine Region and its attributes, thus determining those that deserve preservation and, consequently, public attention. The results of a mixed logit model show that visitors assign highest utility to the preservation of vineyards supported by schist walls, followed by the agglomerations and the characteristic mosaic nature of the landscape. Additionally, respondents who are richer, employed, better educated, better informed regarding the culture of the site and more influenced by the listing are more willing to participate in preserving the cultural heritage of the region.
- Published
- 2015
16. Portuguese wine ratings: An old product a new assessment
- Author
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Jose Vaz Caldas and João Rebelo
- Subjects
Consumption (economics) ,Wine ,Engineering ,business.industry ,Portuguese wines ,media_common.quotation_subject ,Ratings ,Advertising ,Regression analysis ,language.human_language ,Consistency (negotiation) ,language ,ddc:330 ,Quality (business) ,Statistical analysis ,Product (category theory) ,Consistency ,Marketing ,Portuguese ,business ,General Economics, Econometrics and Finance ,media_common - Abstract
Typically, wine is a good experience, its quality being unknown before consumption, with wine drinkers tending to be risk-averse. This being so, expert and consumer opinions may help to fill this information void. Following the classic example of the Bordeaux region increasing numbers of wine producers submit their wines to the raters' evaluation, aware of its importance in consumer purchases and in the definition of wine prices. Portugal, particularly in the last decade, has been following this tendency, with an increasing number of Portuguese wines appearing on the ratings list of Robert Parker (RP) and Wine Spectator (WS) gurus. Using the ratings published in 2010, by RP, WS, Joao Paulo Martins (Portuguese) and cellartrack.com, this paper aims to assess the consistency between the ratings assigned by different experts and by consumers and, additionally, to determine if the score attained by a specific wine is influenced by colour attributes and/or wine region (geographic origin). A statistical analysis shows that, with minor differences, there is consistency between the different ratings. Furthermore, the results of the regression models indicate that red wines tend to have higher scores and, in geographical terms, Douro wines are in prime position.
- Published
- 2013
17. The governance structure of Portuguese and Spanish credit cooperatives: differences and similarities
- Author
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João Rebelo, Amparo Mélian, and Paula Cabo
- Subjects
Structure (mathematical logic) ,Governance ,Restructuring ,Corporate governance ,Financial system ,Appropriate technology ,General Business, Management and Accounting ,Property rights ,language.human_language ,Credit cooperatives ,Common path ,language ,Business ,Portuguese ,Market share - Abstract
The literature recognizes that credit cooperatives are the “appropriate technology” for relatively backward economies, but should fade away or disappear altogether as economic development proceeds. However, surprisingly, they are among the fastest growing groups of financial institutions in some advanced economies. Though the credit cooperatives in Portugal and Spain present relatively small market shares, they perform a very important role in the rural economy. Over the last decades, the Iberian credit cooperatives have adopted a process of economic and financial restructuring, through an intensive wave of mergers and the creation of banking networks: Caja Rural Group, in Spain, and Crédito Agrícola Group, in Portugal. Despite that common path, the Iberian reality is still very different. In this paper we describe the historical roots of Portuguese and Spanish cooperative credit, focusing our analysis on the governance structure, especially on the issues arising from the strict application of traditional cooperative rules.
- Published
- 2009
18. Structure and performance in the Portuguese banking industry in the nineties
- Author
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Victor Mendes and João Rebelo
- Subjects
Structure (mathematical logic) ,Economics and Econometrics ,Portugal ,Monetary economics ,Efficiency ,Structure-performance ,Banking industry ,language.human_language ,Banking ,Direct measure ,Competition (economics) ,Commerce ,Collusion ,Economics ,language ,Market power ,Portuguese ,General Economics, Econometrics and Finance - Abstract
In this paper we study the structure-performance relationship in the Portuguese banking industry during the nineties. The hypothesis of pure collusion, efficient structure, modified efficient structure and hybrid collusion/efficiency are tested using a direct measure of efficiency. Our results endorse the hybrid collusion/efficiency hypothesis in the first half of the nineties. However, after 1994 results lend some support to the modified efficient structure hypothesis. Competition at the local level remains important throughout the decade, suggesting that banks in less competitive local markets exert some level of market power and exhibit superior performances. Financial support from JNICT – Junta Nacional de Investigação Científica e Tecnológica (grant PCSH/ECO/938/95) is acknowledged. info:eu-repo/semantics/publishedVersion
- Published
- 2003
19. Performance de las cooperativas tradicionales: las cooperativas portuguesas de Viño del Duero
- Author
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Jose Vaz Caldas, João Rebelo, and Scott C. Matulich
- Subjects
Economy ,Geography, Planning and Development ,language ,Economics ,Portuguese ,Agricultural and Biological Sciences (miscellaneous) ,Humanities ,language.human_language ,General Environmental Science - Abstract
La globalizacion esta poniendo en cuestion la esencia de la gobernanza cooperativa y su estructura societaria, sobre todo en los paises del Sur de Europa, como Portugal, donde muchos productores estan organizados en cooperativas agricolas tradicionales y de estilo mediterraneo. Este trabajo analiza los efectos de las variables de gobierno y control relacionados con el tamano sobre dos indicadores de comportamiento alternativos: los ingresos transferidos a los miembros/socios y la estructura del capital. Los resultados sugieren que estas cooperativas atraviesan dificultades para mantenerse sostenibles en un mercado de vino global y mas competitivo si siguen, en esencia, una politica de maximo retorno al socio, reduciendo su capacidad para de mejorar la estructura de su deuda y capacidad para financiar inversiones mas rentables, aunque con mayor riesgo, a largo plazo.
- Published
- 2011
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