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The tourism sector is one of the most important drivers of the Portuguese economy. Indeed, any impacts on tourism organizations’ performance have a huge influence on the economic, social and cultural dynamic of the Portuguese society. As such, considering the challenges and pressure that the recent pandemic of COVID-19 has put on tourism organizations, much attention has been devoted to the problem. This paper focuses on web communication strategy followed by key organization in the tourism sector during COVID-19. It is an exploratory study based on a multiple case-study approach that combines different methodologies and techniques. The cases under study were selected through an analytic tool - SimilarWeb - and the preliminary findings, obtained through content analysis of websites and social media profiles of the organizations, indicate that Portuguese tourism organizations have entered in a new age of communication with their clients, characterized by more flexible, complex, and unbureaucratic communication strategies.

The present work seeks to analyze the herding behavior phenomenon as a destabilizing factor of the capital market, while studying the relation between the herding behavior phenomenon and market profitability and volatility. The results allow us to verify the existence of a significant intensity of herding, especially when price variation occurs. Conversely, asymmetrical and elevated volatility levels ensue, with a higher probability of profit than losses of the same magnitude. However, results are less visible when one looks at the causality relation between herding and market volatility. This paper contributes to a deeper understanding of herding behavior and its relation with market efficiency.

Submitted by Anabela Lopes (ateixeira@escs.ipl.pt) on 2018-01-03T15:46:13Z No. of bitstreams: 1 a previsao do fracasso empresarial.pdf: 479387 bytes, checksum: 08ee47ee95fd7b82fafb92da81cba47d (MD5) Made available in DSpace on 2018-01-03T15:46:13Z (GMT). No. of bitstreams: 1 a previsao do fracasso empresarial.pdf: 479387 bytes, checksum: 08ee47ee95fd7b82fafb92da81cba47d (MD5) Previous issue date: 2016-12 info:eu-repo/semantics/publishedVersion

O turismo é um setor em forte expansão em Portugal e com um importante contributo na economia portuguesa. Por isso, o equilíbrio financeiro das empresas neste setor reveste-se da maior relevância, quer para os agentes económicos, quer para os decisores políticos. Apesar disso, não existem em Portugal trabalhos de investigação que analisem o fracasso empresarial no setor da hotelaria. O objetivo principal deste estudo é propor um modelo de antecipação do fracasso empresarial, especificamente desenvolvido para o setor hoteleiro português. Para esse efeito, utilizamos uma amostra de empresas do sector à qual aplicamos a análise discriminante e a técnica logit. Os resultados obtidos mostram um elevado grau de ajustamento do modelo aos dados e indicam que o modelo utilizado constitui um importante contributo na definição de políticas macroeconómicas e programas de apoio ao desenvolvimento do turismo, sendo igualmente relevantes para as decisões de investidores e credores. ABSTRACT: In hospitality and tourism sector, the financial stability of companies has been an issue of major concern, both for economic actors and policymakers. Literature offers us a wide and rich diversity of studies on the issue. Regarding to Portugal, there are studies applied to different economic sectors. However, only a little few have investigated about the hospitality industry. The main goal of this paper is to develop econometric and multivariate models for forecasting business failure in the hospitality industry, using the logit and discriminant analysis. The results show a high degree of adjustment of the model.The practical utility of these models is recognized by different users of accounting documents, particularly investors and creditors. These models also make an important contribution for the definition of macroeconomic policies and public funding programs for investment in tourism sector. info:eu-repo/semantics/publishedVersion

Submitted by Anabela Lopes (ateixeira@escs.ipl.pt) on 2017-12-28T08:20:55Z No. of bitstreams: 1 Implicações no capital próprio da atual-R3.pdf: 627772 bytes, checksum: 3ea26f8b90fbd8b83c2d6ea22c21fd33 (MD5) Made available in DSpace on 2017-12-28T08:20:55Z (GMT). No. of bitstreams: 1 Implicações no capital próprio da atual-R3.pdf: 627772 bytes, checksum: 3ea26f8b90fbd8b83c2d6ea22c21fd33 (MD5) Previous issue date: 2015 info:eu-repo/semantics/publishedVersion

O novo Sistema de Normalização Contabilístico, em vigor a partir de 2010, veio revogar todo o normativo contabilístico português. Em comparação com o normativo anterior, este novo normativo veio preconizar procedimentos contabilísticos diferentes relativamente à contabilização dos subsídios relacionados com activos. O objetivo deste estudo é analisar o impacto no capital próprio da contabilização dos subsídios preconizado no novo normativo, numa amostra de empresas do setor agrícola. Para alcançar o objetivo proposto procedemos a recolha da informação financeira referente ao exercício de 2009 de uma amostra de 124 empresas do setor agrícola, extraída da base de dados SABI, e que receberam subsídios para investimento nesse ano. Com base nos dados analisados podemos deduzir que o valor do capital próprio das empresas em estudo registrará uma variação positiva, correspondente ao valor ainda não imputado dos subsídios reconhecidos, que corresponde a um aumento de quase 4,5%. Esse incremento faz com que o indicador de autonomia financeira aumente, em média, 4,7%, sendo o impacto também positivo no rácio de solvabilidade, com uma variação média superior a 11%. O fato do novo Sistema de Normalização Contabilística preconizar um tratamento contabilístico diferente do estabelecido na IAS 20, permite às empresas portuguesas apresentarem indicadores econômicos financeiros próximos dos apresentados por empresas congêneres de outros países europeus, onde o reconhecimento inicial do subsídio em capital próprio é o que vigora. Além disso, quando a apresentação de candidaturas a fontes de financiamento ou a determinados programas ou fundos europeus poderão aumentar as suas hipóteses de sucesso, pois estes exigem na maioria das vezes que as empresas apresentem percentagens ou valores mínimos em determinados rácios. ABSTRACT: The new System of Accounting Standards, effective since 2010, repealed all the Portuguese accounting standards. Compared to the former standards, the new normative advocates for different accounting procedures regarding the recognition of grants related to assets. The objective of this study is to analyze the impact on financial autonomy for grants recommended under the new standard in a sample of companies from the agricultural sector. To achieve the proposed objective, we proceeded to collect financial information from the year 2009 from a sample of 124 companies in the agricultural sector that were randomly selected from the SABI database from a list of those that had received subsidies for investment in that year. Based on the data analyzed, we candeduce that the value of the equity of the companies in the study willregister a positive variation, corresponding to the not yet recorded value of recognized subsidies, which corresponds to an increase of nearly 4.5%. This increase causes the indicator of financial autonomy to increase, on average, by 4.7%, and also has a positive impact on the solvency ratio, with an average variation greater than 11%. The fact that the new System of Accounting Standards advocates for accounting procedures that are different from those set out in the IAS 20 allows Portuguese companies to present economic financial indicators similar to those being presented by like companies in other European countries, where the initial recognition of the grant in equity is what counts. Also, this may also increase the chance of success for applications to funding sources or determined European programs or funds, as such funding sources normally require that companies show percentages or minimum values in certain ratios. info:eu-repo/semantics/publishedVersion

In Portugal, the general adoption of the International Accounting Standards was made under the SNC-Accounting Normalization System, in 2010. The SNC carried out new bookkeeping rules concerning the way government grants related to assets. While in the past these grants were treated as liabilities during the economic life of the asset, now the Accounting and Financial Reporting Standards n.º 22 (NCRF n.º 22) repor t them as an item of equity capital. This procedure is an exception to the rules stated in IAS. The aim of this study is to analyze whatever the accounting for government grants impact on equity capital and, consequently on financial ratios, of Portuguese companies in the agricultural sector. We collect financial information of 2009, from 124 enterprises operating in the agricultural sector, which had re port subsidies for investment. The sample was draw from SABI database. Our model used the amounts repor ted as “Accrued and deferred income - Income taxes - Subsidies for Investments” (old bookkeeping rules), at 31/12/2009, and estimates the values of the equity capital and financial ratios. We found a positive variation in equity capital, which corresponds to an increase of nearly 4.5%. Consequently it caused an increase of 4.7% in theindicator of financial autonomy, and also had a positive impact on the solvency ratio, with an average variation greater than 11%. Our research shows that the new bookkeeping rules have important implication in the values of some financial ratios of Portuguese companies. Even though the new bookkeeping procedures are different from those stated in IAS nº 20, Portugal opted by the same rules as those that Spain and France follow since long time ago and thus Portuguese companies are in equal competition condition to apply European Programs for financial support of investment projects, since it requires some minimum valuesat certain ratios. N/A

O turismo é um sector em forte expansão em Portugal com um importante contributo na economia Portuguesa. Apesar disso, não existem em Portugal trabalhos de investigação que analisem o fracasso empresarial no setor da hotelaria. Este trabalho tenta por isso suprir este gap. O objetivo principal deste estudo visa efetuar a previsão do fracasso empresarial no setor hoteleiro Português. Para esse efeito é utilizado um modelo econométrico e um modelo de estatística multivariada. Os resultados indicam que os modelos utilizados constituem um importante contributo na definição de políticas macroeconómicas e programas de apoio ao desenvolvimento do turismo sendo igualmente relevantes para as decisões de investidores e credores. ABSTRACT: Tourism sector is in permanent expansion in Portugal with a important contributtion in Portuguese economy. Despite that, there are not relevant works in this field. According this, the main goal of this paper is to develop an econometric and a multivariate model for forecasting business failure in the hospitality industry, namely, using the logit and discriminant analysis. The results confirm that the models used are an important contribution in setting macroeconomic policies and to support the development of tourism is also relevant to decisions by investors and lenders programs. N/A

This paper aims to analyze the farm structure in Portugal, the main reasons that explain the duality of the agrarian system between the Southern and Northern regions of the country, and the potential consequences on agricultural development. Besides the farm structure in Portugal as a recurrent issue on the Portuguese literature, the concept of semi-subsistence farms in Portugal was never recognized. This paper tries to overcome this gap on the literature. The methodology used was a univariate statistical analysis, due to the inexistence of more strong information and data. The results confirm the contribution of subsistence farming to household incomes, and social and rural development, with strong development potential due to the macroeconomic situation in Portugal. But concerning that, stronger quantitative analysis and studies are needed. The conclusions suggest that the EU Common Agricultural Policy instruments best suited the response to the specific needs of these subsistence farmers due to the prevalence and importance of small farms in Portugal. info:eu-repo/semantics/publishedVersion

Submitted by Iolanda Valente (ivalente@iscap.ipp.pt) on 2015-07-28T11:03:24Z No. of bitstreams: 1 A_MariaCoelho_2007.pdf: 372492 bytes, checksum: f8f8057c24e7ec36156e9514f10f593e (MD5) Approved for entry into archive by Iolanda Valente (ivalente@iscap.ipp.pt) on 2015-07-28T11:03:48Z (GMT) No. of bitstreams: 1 A_MariaCoelho_2007.pdf: 372492 bytes, checksum: f8f8057c24e7ec36156e9514f10f593e (MD5) Made available in DSpace on 2015-07-28T11:04:00Z (GMT). No. of bitstreams: 1 A_MariaCoelho_2007.pdf: 372492 bytes, checksum: f8f8057c24e7ec36156e9514f10f593e (MD5) Previous issue date: 2007

Tese de doutoramento em Contabilidade, Os modelos de educação financeira baseados na transmissão de conhecimentos técnicos econômicos e financeiros têm sido criticados devido, sobretudo, ao seu impacto limitado sobre o comportamento dos individuos. A suportar este debate está o confronto entre abordagem econômica tradicional, apoiada na concepção do “homo economicus” e a abordagem econõmica comportamental, apoiada na ideia que as decisões dos individuos são influenciadas por uma diversidade de fatores alheios aos processos racionais. Enquadrada na abordagem comportamental, a teoria da contabilidade mental alerta sobre o efeito que o ambiente exerce sobre as decisões econômicas individuais e advoga que o processo de decisão pode ser redesenhado, no interesse do índividuo, através da proposição de uma arquitetura de escolha que auxilie os indivíduos e famílias a tomar decisões mais racionais, ou seja, através da criação do nudge. Fundamentada na teoria da contabilidade mental, esta investigação procura responder às seguintes questões de investigação: (i) Quais as abordagens que têm sido aplicados no âmbitos dos programas de educação financeira para a reconstrução da contabilidade mental das famílias? (ii) Entre os fatores manipuláveis no âmbito desses programas de educação financeira, quais os fatores que estão associados a situações de desequilibrio financeiro? (iii) O modelo da RODA - RPDG (Recebimento, Poupança, Doações e Gastos) constitui uma alternativa eficaz perante as estratégias alternativas de educação financeira, ou seja, pode ser usado como um nudge? A primeira questão foi respondida com base na revisão de literatura, quer de trabalhos científicos, quer de documentos publicados por organismos internacionais com programas de intervenção na área da educação financeira. Para responder à segunda aplicamos um questionário aos participantes, antes do inicio da intervenção. Depois de realizada a análise fatorial, confrontamos o desempenho do modelo com as variáveis independentes que seguem a abordagem clássica, com o modelo desenvolvido, onde, além dessas variáveis incluimos das quatro dimensões da RODA. Para responder à terceira questão, foi realizada uma intervenção que consistiu em uma formação, com servidores públicos participantes do projeto de extensão da Universidade Estadual de Feira de Santana – UEFS, cujo conteúdo central baseou-se na aplicação de princípios de educação financeira, contidos na Roda RPDG. A eficácia da RODA foi avaliada com base em dados qualitativos resultantes das entrevistas aos participantes. Os resultados apontaram que houve uma mudança na contabilidade mental dos participantes, pois, passaram a adotar novos comportamentos que influenciaram positivamente na gestão financeira. As limitações deste trabalho estão associadas, sobretudo, à dimensão da amostra, aos vieses introduzidos pelos instrumentos de recolha de dados, à dificuldade em controlar outras variáveis que podem interferir no comportamento dos participantes. Não obstante, este trabalho é o primeiro a avaliar a eficácia do modelo da RODA de forma sistematizada, contribuido assim para o enriquecimento da literatura no domínio da gestão das finanças pessoais, bem como para o próprio melhoramento do modelo da RODA. Além disso, os seus resultados podem ser de grande interesse para decisores politicos e familias com problemas financeiros., Financial education models based on the transmission of economic and financial technical knowledge have been criticized due, above all, to their limited impact on individuals' behavior. Supporting this debate is the confrontation between the traditional economic approach, based on the concept of “homo economicus” and the behavioral economic approach, based on the idea that individual decisions are influenced by a variety of factors that are alien to rational processes. Framed in the behavioral approach, the theory of mental accounting warns about the effect that the environment has on individual economic decisions and argues that the decision process can be redesigned, in the interest of the individual, through the proposition of a choice architecture that helps the individuals and families to make more rational decisions, that is, by creating the nudge. Based on the theory of mental accounting, this investigation seeks to answer the following research questions: (i) What approaches have been applied within the scope of financial education programs for the reconstruction of families' mental accounting? (ii) Among the factors that can be manipulated within the scope of these financial education programs, which factors are associated with situations of financial imbalance? (iii) Is the RODA model - RPDG (Receipt, Savings, Donations and Spending) an effective alternative to alternative financial education strategies, that is, can it be used as a nudge? The first question was answered based on a literature review, both scientific works and documents published by international organizations with intervention programs in the field of financial education. To answer the second, we applied a questionnaire to the participants, before the beginning of the intervention. After carrying out the factorial analysis, we compare the performance of the model with the independent variables that follow the classic approach, with the developed model, where, in addition to these variables, we include the four dimensions of the RODA. To answer the third question, an intervention was carried out that consisted of training, with civil servants participating in the extension project of the State University of Feira de Santana - UEFS, whose central content was based on the application of financial education principles, contained in the RPDG Wheel. RODA's effectiveness was assessed based on qualitative data resulting from participant interviews. The results showed that there was a change in the participants' mental accounting, as they began to adopt new behaviors that positively influenced financial management. The limitations of this work are associated, above all, with the size of the sample, the biases introduced by the data collection instruments, the difficulty in controlling other variables that can interfere in the behavior of the participants. Nevertheless, this work is the first to evaluate the effectiveness of the RODA model in a systematic way, thus contributing to the enrichment of the literature in the field of personal finance management, as well as to the improvement of the RODA model itself. Furthermore, your results may be of great interest to policy makers and families with financial problems.