Percorrer por autor "Mota, Jorge"
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- Alliance orientation and firm financial performance: industry-specific and crisis effects. Implications for coopetition dynamicsPublication . Mota, Jorge; Chim-Miki, Adriana Fumi; Moreira, Antonio; Costa, Rui AugustoPurpose – This study examines how firms’ alliance orientation impacts firm financial performance, varying across manufacturing and retail service industries and during the COVID-19 Crisis. Coopetition requires simultaneous competition and cooperation, sometimes competition-based coopetition, other times cooperation-based coopetition. In this study, alliance orientation was used as the observable construct, enabling us to interpret its implications within the broader literature on coopetition dynamics. Design/methodology/approach – We used a sample of 330 portuguese and Spanish firms across different industries and employed an Ordinary Least Squares model. The study spans 2013–2022, encompassing pre-COVID-19 and during COVID-19 pandemic periods. Findings – Results show that alliance orientation positively influences financial performance in the retail services industry, particularly during COVID-19, where alliances mitigated the negative effects of firm age, sales growth opportunities and asset tangibility. No significant effect was observed in manufacturing firms, highlighting industry-specific dynamics. Originality/value – The study offers threefold novelties. First, it assesses the impact of strategic alliance engagement on financial performance through an econometric model that considers the effect of strategic alliances on return on assets and includes control variables to express organizational complexity. Second, it highlights that the benefits of alliance strategies, which can enable coopetition dynamics, vary across industries. Third, it provides evidence that alliance orientation can be a strategic risk and crisis management mechanism, particularly during disruptive events such as the COVID-19 pandemic.
- Budget participation and employee performance in real estate companies: the mediating role of budget goal commitment, trust and job satisfactionPublication . Silva, Pedro; Mota, Jorge; Moreira, AntonioPurpose – Recent years witnessed an exponential growth of the Portuguese real estate market. This growth has generated the need to implement effective management control tools to allow companies to improve their planning and monitoring of activities. Drawing on the agency and goal-setting theories, this paper explores the impact of companies’ participative budgeting processes on employee performance in the real estate industry. Design/methodology/approach – For this purpose, a questionnaire was developed and a sample of 116 employees that participate in the budgeting process of real estate organizations collected, with data analyzed using structural equation modelling. Findings – The results show that participation in the budgeting process has an impact on employees’ performance through budget goal commitment, trust and job satisfaction. However, no statistical support was found for the role of budgetary slack in this process. Research limitations/implications – This study was conducted in a single industry and is based on self-reported measures of employees that participate in the budgeting process of their organizations. Practical implications – The findings highlight the need for real estate organizations to involve their staff in the elaboration of budgets, contributing to a higher level of commitment to established goals, job satisfaction, trust and performance. Real estate organizations should provide adequate working conditions, foster their employees’ autonomy and recognize their work. Originality/value – The findings encourage real estate companies to extend the participation in the budget process to employees and, ultimately, to mitigate the probability of budget failure.
- Capital budgeting practices: a survey of two industriesPublication . Mota, Jorge; Moreira, AntonioThis research examines the capital budgeting practices used by small and medium-sized firms (SMEs) in two Portuguese industries, footwear and metalworking, aiming at answering the following research questions: How much knowledge do managers have about capital budgeting practices? What are the most used practices? How much importance do they attribute to applying them? The research was conducted through an online survey with a response rate of 14.9%. The results document that most companies in both industries are familiar with capital budgeting practices, despite differences between the two. The footwear industry recognizes the importance of these indicators but makes little use of them, and many companies prefer using payback period (PBP). The metalworking industry, on the other hand, makes greater use of capital budgeting practices, with net present value being the favored indicator and PBP being used as supplementary. This study contributes to the capital budgeting literature in two ways: first, by focusing on SMEs instead of only large firms, and second, by exploring data from two industries rather than multiple, heterogeneous industries.
- Competitiveness framework to support regional-level decision-making in the wine industry: a systematic literature reviewPublication . Mota, Jorge; Costa, Rui; Moreira, Antonio; Serrão, Silvana; Costa, CarlosThis study aims to identify the main performance indicators and group them in dimensions within a regional competitiveness framework to support decisionmaking in the wine industry. For this research, a systematic literature review (SLR) was conducted in the Scopus database. There is a limited number of studies identifying indicators with impact on the performance of wine regions, and even fewer studies including indicators in an integrated approach to measure the different dimensions of wine regions’ performance. From a set of 85 papers, only 9 studies related to performance indicators with a specific focus on the regional level were considered. We document that under a convention framework, economic and territorial indicators cover 84.90% of all SLR indicators analysed, and under a regional competitiveness framework, infrastructure and innovation and intellectual capital indicators fill 81.25% of all the indicators. As this group of indicators is limited to a set of sub-dimensions, we found that several groups of indicators are misrepresented, such as the ones related to human and socio-cultural capital areas, which play a crucial role in the regional competitiveness of the wine industry. This paper contributes to the literature identifying indicators according to convention and regional competitiveness frameworks in three dimensions – economic, environmental and territorial dimensions and five main areas – productive capital, human capital, socio-cultural capital, infrastructure and intellectual capital. These indicators are to be used at regional-level to support decision-making in the wine industry. For regional entities, it discloses the most pertinent indicators which need improvement to craft regional strategies. This framework is of added value for policymakers to customize their support programmes so that specific producers can enhance their competitive strategies. It could also be deployed in teaching programmes as a tool to address the importance of aligning different types of indicators to achieve better performance in the wine industry.
- Corporate performance under geoeconomic fragmentation: evidence from iberian transnational corporationsPublication . Santos, Mário Coutinho Dos; Myro, Rafael; Moreira, Antonio; Mota, JorgeThis paper examines the value creation of Iberian transnational corporations (TNCs) from 2013 to 2023, focusing on the impact of geoeconomic fragmentation. Using data from 7,040 TNCs, we find that total shareholder returns (TSR) exhibited variability, driven by macroeconomic recoveries and geopolitical disruptions, with differences between Portuguese and Spanish firms. Lower geoeconomic risk is associated with a higher 1.60 percent TSR, emphasizing the importance of stable environments for multinational corporations, particularly for manufacturing firms. Key financial and strategic drivers of TSR also include financial performance, financial stability, cost of equity, growth opportunities, and geographical diversification. Additionally, firms with negatively skewed stock returns show higher corporate value as investors demand lower expected returns, particularly for firms not at extreme skewness levels. Our findings highlight the role of risk management and diversification strategies in enhancing firm performance when experiencing geoeconomic challenges. Results provide insights for corporate leaders, investors, and policymakers on the effects of global fragmentation on TNCs’ performance. Our results are robust to alternative models and variable specifications.
- De-internationalization of SMEs: a case studyPublication . Moreira, Antonio; Silva, Pedro M. Freitas daa; Mota, Jorge; Gadim, Hugo OliveiraExisting literature has devoted high attention to the topic of internationalization. A common assumption is that companies progressively commit to international operations; however, with the increase of competition in international markets, there may be a backwards perspective towards international operations. In this chapter, the topic of de-internationalization is examined, and a case study of a Portuguese SME that de-internationalized conducted. The featured case highlights the drivers and the main challenges of internationalization, as well as the factors and the difficulties in a de-internationalization process. The chapter findings highlight the need to expand the existing research on the topics of de-internationalization and re-internationalization.
- Determinants of bank credit ratings: evidence from Africa, the EU13, and Latin America/CaribbeanPublication . Addae, John Agyekum; Mota, Jorge; Moreira, AntonioPurpose – This study examines the influence of corporate governance, firm-level characteristics, external factors and risk-taking on bank credit ratings in three distinct regions: Africa, the EU13 and Latin America/ Caribbean. Design/methodology/approach – This research analyzes a panel dataset comprising 752 banks from 95 countries from 2011 to 2020, using ordered logistic regression. Findings – The results reveal that corporate governance factors, including board size, board age, and board gender diversity, significantly impact credit ratings. Firm-specific characteristics, including age, market discipline, and opacity, negatively correlate with credit ratings. External factors, particularly the presence of the Big Four audit firms and economic growth, positively influence credit ratings. Institutional quality negatively impacts credit ratings, while risk-taking shows a significant positive association. Practical implications – This study encourages banks and policymakers to re-evaluate governance structures, risk management strategies, and region-specific approaches to credit assessment. A thorough understanding of credit rating determinants is essential for fostering a resilient and sustainable financial environment. Originality/value – This study underscores the critical role of robust corporate governance, institutional quality, and audit oversight in shaping credit ratings within the global banking sector. It challenges the prevailing onesize- fits-all approach to credit-rating assessments and supports the Sustainable Development Goal (SDG) 8, Target 10, which aims to strengthen financial institutions. The findings also contribute to the ongoing discourse on credit ratings within the United Nations Economic Commission for Africa framework.
- Determinants of microcredit repayment in Portugal: analysis of borrowers, loans and business projectsPublication . Mota, Jorge; Moreira, Antonio; Brandão, CristóvãoMicrocredit programs in Portugal represent a unique case for studying the microcredit repayment determinants in a developed country, as it experienced a financial hardship in 2008–2009, with economic and social consequences that led to unemployment crisis. This research examined the determinants of microcredit loan repayment based on a sample of 752 microcredit loans granted in Portugal by the National Association for the Right to Credit, adopting individual lending mechanisms and granting loans through partnerships with several credit institutions. This is the first study to ascertain the influence that a set of factors – grouped into three categories: borrowers’ individual characteristics; loan characteristics; and characteristics of business projects implemented by borrowers – has on the repayment ability of microcredit programs, in a developed country of the Eurozone. Moreover, this is the first study using an ordered logistic regression (OLR) in estimating the determinants of microcredit loan repayment. Similar to previous studies, married borrowers tend to repay loans faster as they tend to be more responsible than single borrowers. Nationality seems to be an issue as foreigners tends to default the repayment loans. Finally, those involved in manufacturing activities perform better than those involved in service activities in repaying their loans. This clearly indicates that in developed countries special attention needs to be provided to minority groups as well as market/supply conditions, which are not normally considered in less favored economic countries.
- Employees' perception of corporate social responsibility and performance: the mediating roles of job satisfaction, organizational commitment and organizational trustPublication . Silva, Pedro; Moreira, Antonio; Mota, JorgePurpose – Corporate social responsibility (CSR) is an evolving concept which is increasingly being adopted by companies with the purpose of creating sustained organizational growth. However, while the impact of CSR practices on employees’ behaviors and attitudes has been recognized over the years, the relationship between CSR practices and employee performance remains underexplored. Design/methodology/approach – Drawing on social identity theory and using the partial least squares structural equation method, this research examines the impact of CSR practices on employees’ performance in a sample of 171 employees belonging to the construction industry. Findings – The findings do not support the existence of a direct relationship between employees’ perception of CSR and their performance; instead, they indicate that this relationship is mediated by job satisfaction and organizational trust. Research limitations/implications – The data concerns employees’ self-reported measures on their perceived CSR and the study was conducted in a single industry. Practical implications – Adopting CSR initiatives in company strategies is worthy as the perceptions of employees and their performance is positively influenced by their organization’s CSR activities. Managers should properly communicate and involve internal stakeholders in socially responsible practices to increase their awareness. Originality/value – This article analyzes the impact of employees’ perception of CSR on employees’ performance through the roles of employee organizational trust and job satisfaction as mediating variables in a highly socially pressured industry such as construction.
- Examining the effect of quantities offered by hydraulic, renewable, non-renewable sources and thermal technologies on electricity prices in the MIBEL market through an ADRL approachPublication . Moutinho, Victor; Moreira, Antonio; Mota, JorgeThe objective of this article is to analyze and empirically validate the differential effects in the daily schedules of the induced electricity prices by selling bids for three different technologies, namely hydraulic, thermal and renewable energy sources (RES), in hourly values, by daily observations for the year 2018. To achieve this objective, we employ an autoregressive distributed lag (ARDL) model-bound testing approach The results of the ADRL-ECM method, which also reports the long-run analysis, show that (a) the renewable and thermal technologies positively and significantly affect the electricity price for Endesa and Hidroelétrica del Cantábrico generators and (b) the hydraulic technology impacts negatively the electricity price, both at a 1% level of significance. In addition, following a long-term perspective it must be highlighted that RES negatively impact the price of electricity with a 1% level of significance for the Iberdrola, E.ON Energy, Unión Fenosa and EDP Energy of Portugal generators. However based on a short-term perspective, the results report a positive effect between the quantities traded by hydraulic and thermal technologies on the electricity price for Endesa, Iberdrola, Hidroelétrica del Cantábrico and EDP Energy of Portugal, at a 1% level of significance.