Percorrer por autor "Mota, J. H."
A mostrar 1 - 2 de 2
Resultados por página
Opções de ordenação
- Behavioural factors in the financial decisions of young MozambicansPublication . Mota, J. H.; Moreira, Antonio; Cossa, A. J.This paper seeks to analyse how behavioural factors influence the financial decisions of young Mozambican investors. The standard theory of finance assumes investors make rational financial decisions, seeking to minimise risk and maximise their expected utility. However, several studies have been conducted criticizing the assumption that investors are rational, opening the way to behavioural finance theory. According to the behavioural finance approach, financial decisions made by individuals are not based on rational thinking and their risk taking behaviour depends on their beliefs or feelings. Our analysis reveals that young Mozambicans are risk averse towards certain gains and risk lovers when faced with certain losses; they are excessively optimistic about the future; they use the information available as an anchor for their estimates; and they are so overconfident that they believe estimates in uncertain situations to be more accurate than they really are.
- Evaluating the strategic supply per power plant: evidence from the spanish wholesale electricity marketPublication . Moutinho, V. M. F.; Moreira, Antonio; Mota, J. H.This paper analyses the relationship among marginal costs per power plant, fossil fuel prices and electricity bidding quantities in the Spanish electricity market. The results of the panel cointegration and Granger causality methods clearly indicate a differential impact of fossil fuel prices on power plants marginal costs, with a positive effect for gas power plants. The biggest negative impact on marginal costs is seen for coal technology. As a consequence of the characteristics of different production technologies, the set of marginal costs across the sample is based on coal power plants, although Endesa and Iberdrola’s marginal costs are predominantly based on gas power plants. Operating costs for hydroelectric power plants are very low when Endesa, since this technology is strongly dependent on the volatility of commodity markets and on the supply chain and production costs management.