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- Strategic decisions on bilateral bidding behavior: evidence from a wholesale electricity marketPublication . Moutinho, V. F.; Moreira, Antonio; Bento, J. P. C.This article analyzes the strategic bilateral bidding behavior in the Spanish electricity wholesale market (OMEL). The collection of data includes information regarding weekly averages of spot prices, the quantity bid in the wholesale market, the quantities purchased in the wholesale market and sold in the open market, and the behavior of conduct parameters for the period from January 2002 to April 2007 for the four largest firms of the Spanish electricity market: Endesa, Iberdrola, Unión Fenosa and Hidrocantábrico. This article employs the New Empirical Industrial Organization approach. The empirical analysis was based on the autoregressive distributed lag approach to cointegration and on the Toda–Yamamoto Granger causality tests to validate the standard version of the theoretical formulation of the standard Cournot model, and its theoretical extension, to encompass the hypothesis of the presence of bid interdependence for electricity quantities sold and bought in the Spanish electricity wholesale market. The results of cointegration and causality analysis reinforce the empirical results of the extended Cournot model with the inclusion of the two main bidding variables that solved the optimization problem of profit maximization for each of the four firms analyzed.
- The importance of exploration and exploitation innovation in emerging economiesPublication . Moreira, Antonio; Navaia, Eurico; Ribau, CláudiaInnovation capabilities are among the main driving sources of export performance; however, the literature on how exploration and exploitation innovation influence export performance in the context of emerging economies is scarce. As such, the purpose of this paper is to assess the relationship between innovation capabilities and export performance, mediated by exploration and exploitation innovation. For that, an online questionnaire was implemented surveying 250 Mozambican Small and Medium Enterprises (SMEs) in the agro-industry, agro-processing, and fishing sectors. Based on a Partial Least Squares Structural Equation Model (PLS-SEM) relating innovation capabilities, exploitation, and exploration innovation to export performance, it is possible to state that innovation capabilities influence the export performance of SMEs in this emerging country. Moreover, exploration and exploitation innovation exert important mediation effects, the latter being more prevalent than the former. The results constitute a major contribution as it is possible to claim that, in the context of emerging economies, Mozambican SMEs have managed to enhance their export performance, based on innovation capabilities, but, also, to master their ambidexterity with exploiting capabilities, normally linked to their current technological trajectories, being more prevalent that exploitation capabilities, which are focused on the pursuit of radical innovation.
- The driving forces of change in energy-related CO2 emissions in Eastern, Western, Northern and Southern Europe: The LMDI approach to decomposition analysisPublication . Moutinho, Victor; Moreira, Antonio; Silva, Pedro Miguel
- Why do business angels invest? Uncovering angels’ goalsPublication . Falcão, Rui; Carneiro, Maria João; Moreira, AntonioDespite the increasing importance of business angels (BAs) as crucial players in the growth of high-potential early-stage startups, their motivations are not fully understood. Many of the perceptions of BAs deviate significantly from more conventional views of conventional economic and financial models. To gain a comprehensive understanding of BAs’ goals, qualitative techniques from marketing and consumer behaviour as additional lenses (including laddering and meansends chains) were employed to allow currently active BAs to articulate their goals in ways that forced-choice, quantitative methods do not achieve. Additionally, to determine if entrepreneurs perceive BAs in the same way BAs see themselves, entrepreneurs were asked to provide their perspectives on why BAs choose to become angel investors, based on their experiences with BAs. The findings reveal that traditional financial viewpoints do not adequately capture the depth and driving force behind BAs’ goals, while entrepreneurs appear to be overly influenced by conventional assumptions about these goals. The study also provides valuable insights into the relationships and hierarchy among BAs’ goals, and on the relevance of each goal. The paper ends with reflections on the practical implications of this research for BAs, entrepreneurs and policymakers.
- Do social and economic factors affect the technical efficiency in entrepreneurship activities? Evidence from European countries using a two-stage DEA modelPublication . Silva, Pedro Mendonça; Moutinho, Victor Ferreira; Moreira, AntonioThis article aims is to address whether, and to what extent, socioeconomic conditions influence entrepreneurship-based activities in 18 European countries grouped into subregions (North, South, East and West) during the period 2008–2018. We conducted the empirical study under a two-stage DEA model. The results of scores of technical efficiency of the first stage of DEA show inefficiency in Northern Europe for Finland, Ireland and Sweden, while, Belgium, Germany, France and Luxembourg are also inefficient countries in Western Europe. Finally, Spain and Italy are inefficient in Southern European group of countries. In the second stage of DEA, through the parametric fractional regression model (FRM), which consolidated results of one-part and two-part models, the results show that the Expenditure on Social Protection produces positive (high magnitude coefficient) statistical significance on TEA of Eastern, Western and Southern EU countries, while generates a negative (high magnitude coefficient) statistical significance on TEA of Northern EU countries. Moreover, in the Eastern, Western and Southern EU countries, in contrast with Northern EU countries, presumably the dimensions of the social welfare (employment/unemployment protection and so on) are used to encourage individuals to invest in specific skills and/or new businesses. Furthermore, the results in this second stage of DEA helps gain a thorough perspective on how economic and social impacts result from TEA efficiency.
- The “Endless Perspective” to University – Industry – Government relationsPublication . Simões, Pedro Costa; Moreira, Antonio; Dias, Carlos MendesSince the emergence of the Triple Helix, expansions to Quadruple, Quintuple, N-tuple helices, and models decomposing higher-order helices into multiple interrelated triple helices, or two-layer triple helices have been proposed. Albeit presenting alternative conceptual frameworks these different Helix models seem unsuited to address internal boundaries to the institutional spheres of the university, industry, and government. Addressing this circumstance, the present article pursues the research purpose of conceptualizing a perspective that opens the possibility of analysis to occur between but also within the boundaries of the institutional spheres. To that effect it advocates the application of different reference frames (scopes) to capture the dynamics that empirically emerge from the system under research. The novelty of this study is that it expands the existing theory by proposing that adding “scopes” (instead of introducing new helices) can increase the analytical potential of the Triple Helix.
- The internationalization of nongovernmental organizations: characteristics and challengesPublication . Gaspar, Beatriz; Moreira, Antonio; Cercas, Carolina; Queirós, Rafaela; Campos, SaloméAlthough the internationalization of business firms has been intensively studied, the internationalization of nongovernmental organizations (NGOs) is still in a growing-up stage as NGOs are focused on serving specific social interests. They may not only be influenced by social, political, and economic goals, but also cater to social or humanitarian services dealing with health, environmental protection, and human rights. Based on the importance of NGOs and the lack of previous studies on their internationalization process, this paper analyzes the results of a systematic literature review (SLR) on the internationalization of NGOs. It is possible to conclude that this topic is under-researched and fragmented and has been dealt with by following qualitative studies. Moreover, the internationalization of NGOs is far from similar to the models that explain the internationalization of for-profit businesses. NGOs are clearly tuned to the services they provide and seek complementary resources from governmental sources and state agencies so that they are capable of providing a variety of human and financial resources. The main limitation of this study is that it is based solely on two academic databases: SCOPUS and WoS.
- Public policies, open innovation ecosystems and innovation performance: analysis of the impact of funding and regulationsPublication . Costa, Joana; Moreira, AntonioOpen innovation (OI) has been implemented to develop competitive advantages based on the management of innovation with external players. As such, it is expected that the generalized adoption of OI practices needs to be nurtured by governmental public policies in order to enhance OIbased ecosystems. The role of open innovation ecosystems is known by the importance of multiple synergies among players/stakeholders, which are expected to be supported by regulations and funding to consolidate firms’ innovation results. This paper analyzes the role of regulations and funding on firms’ innovation performance using the double-hurdle estimation procedure. The results show that, in the first tier, inbound knowledge flows positively affect performance, and, in the second tier, public funds further reinforce innovation performance and fiscal and security regulations. In contrast, as regulations are perceived as barriers, they fail to impact innovation performance. With this paper, we manage to shed light on the importance of public policy funds in the support of thriving OI-based ecosystems as enhancers of firms’ innovation performance.
- Green supply chain practices in the plastics industry in Portugal: rhe moderating effects of traceability, ecocentricity, environmental culture, environmental uncertainty, competitive pressure, and social responsibilityPublication . Moreira, Antonio; Ribau, Cláudia; Rodrigues, Carolina da Silva FerreiraThe proper use of resources in an industrial environment is crucial for the sustainability of the industry and the planet. As the supply chain is important for improving companies’ environmental performance, this article measures the impact of green supply chain management (GSCM) practices on the environmental performance of companies in the plastics industry in Portugal. Environmental culture, environmental uncertainty, competitive pressure, ecocentricity, social responsibility in procurement and value chain traceability were used to moderate the relationship between GSCM and environmental performance. Using seven regression models via partial least squares structural equation modeling, it was possible to test the six moderators referred to above. The results demonstrate that GSCM practices have a positive impact on companies’ environmental performance; however, the moderating effects tested proved not to be statistically significant. The immediate consequences for firms are clear: it is mandatory for them to implement an environmental, ecocentric culture if they want to manage the socio-environmental challenges of procurement and the traceability of the supply chain; only then will they be able to deal with both environmental uncertainty and the competitive pressures of supply chain sustainability. The biggest current challenges lie in the rational use of plastic resources and their reuse, either by the industry or by the end user, in terms of conscientious consumption and correct routing for their reuse. According to the natural resource-based theory, it is possible to claim that firms have capabilities but lack the resources to cope with environmental challenges they are facing to properly internalize the changes and to implement them across the supply chain.
- The trust-commitment challenge in service quality-loyalty relationshipsPublication . Moreira, Antonio; Silva, P. M.Purpose – The purpose of this paper is to develop and empirically test a model to examine service quality, satisfaction, trust and commitment as loyalty antecedents in a private healthcare service. Design/methodology/approach – The approach was tested using structural equation modelling, involving 175 patients from a private Portuguese healthcare unit, using a revised Service Quality Assessment Scale (SQAS) scale for service quality evaluation. Findings – The scale used to evaluate service quality is valid and meaningful. Service quality proved to be a multidimensional construct and relevant to build satisfaction. The path satisfaction→trust→loyalty was validated, whereas the path satisfaction→commitment→loyalty was not statistically supported. Research limitations/implications – The revised SQAS scale showed good internal consistency in healthcare context. Further trust-commitment antecedents must be examined in a private healthcare landscape to generalise the findings. Practical implications – Healthcare quality managers must explore the service quality dimensions to generate satisfaction among their patients. Developing trust generates positive patient attitudes and loyalty. Originality/value – This study explores using the SQAS scale in a private healthcare context. The authors provide further evidence that service quality is an antecedent and different from satisfaction. All the measures used proved to be valid and reliable. Trust and commitment play different roles in their relationship with loyalty.