Browsing by Author "Tavares, Vasco Capela"
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- Risk Planning and Management in Portuguese Companies - A Statistical ApproachPublication . Tavares, Fernando Oliveira; Santos, E.; Tavares, Vasco Capela; Ratten, VanessaThe purpose of this article is to study risk management planning and risk management in Portuguese companies. The methodology used is of a quantitative nature, based on a questionnaire survey that analyzes the risk management planning and risk management of 1647 Portuguese companies from different sectors of activity. The results allow us to conclude that the aspects that most manifest themselves in the perceptions of risk management planning are having a management plan that includes the relationship with customers, suppliers, and employees, as well as an updated security plan. This study intends to contribute to academic knowledge and for companies to know and master the concepts of risk management planning and risk management in its different aspects, helping the adoption of strategies to better plan risk management. The results make it possible to understand the differences in planning and risk management between larger and smaller companies, between older and younger companies, and between family and non-family companies. These results can contribute to increasing corporate sustainability and improving performance in planning and managing corporate risks.
- A Statistical Analysis of Companies' Financing Strategies in Portugal during the COVID-19 PandemicPublication . Tavares, Fernando; Santos, E.; Vasconcelos, Mafalda Venâncio de; Tavares, Vasco CapelaThis study aims to establish which sources of financing were used and the relevance of different banking products for Portuguese companies during the pandemic. We also intend to understand the determinants of companies’ financing options and what lies behind their decisions concerning the appropriate level of debt. A quantitative methodology was used, based on a ques tionnaire given to Portuguese companies to analyse different financing issues. The sample was composed of 1957 companies with a business volume of more than EUR 500,000 per year. The results show that Portuguese companies focused on managing liquidity and corporate risk. We found evidence that companies kept financing themselves by banking products such as in the pre-pandemic period, although 29.6% resorted to the LAE-COVID economy support line. Companies decide on the appropriate amount of debt based on the nature of the business, the phase of the life cycle in which the company is, the cash flows’ volatility, accounting results, credit rating, and fiscal benefits. Academicians and companies should master the concept of company financing and adopt strategies to consider the level of debt and refine the banking products to be used. Although the literature on business financial management usually claims that all crises are the same, the COVID-19 pandemic not only caused a recession but also forced people and companies to adapt to a new environment. Portuguese companies have shown resilience and focus on their adoption of good financing practices.
- The Senses as Experiences in Wine Tourism : A Comparative Statistical Analysis between Abruzzo and DouroPublication . Santos, E.; Barattucci, Massimiliano; Tavares, Fernando Oliveira; Tavares, Vasco CapelaSensory experiences play a remarkable role in the visitor’s satisfaction and behavioral intention to return to a wine tourism unit, so it is important to frequently review the environment in which the experience is lived, to make it memorable. This study aimed to perform a comparative analysis of the perception of sensory experiences between the Abruzzo region in Italy and the Douro region in Portugal. This study also intended to understand the most important sensations sought by wine tourists in each region. A quantitative methodology was used, based on a questionnaire survey that analyses the perceptions of sensory experiences and some variables that characterize the profile of wine tourists. The sample consisted of 199 wine tourists who visited the wine tourism units of the aforementioned regions. The structural equation model results showed that sensory experiences were composed of five factors: sight, hearing, smell, taste, and touch, and sensory experiences manifested with greater intensity in the hearing and smell factors. By comparing the results between the two regions, it can be concluded that smell is the most important factor for wine tourists who visit the Douro region, while for those who visit the Abruzzo region, it is the taste. The obtained results are important, in that they allow perceiving the differences in perception in sensory experiences, which has an impact on the management of companies in the two regions studied. This comparison between two wine regions in two different countries is pioneering work. Different wine regions have different attractiveness factors.
- The Value of Farmland and Its Determinants - The Current State of the ArtPublication . Tavares, Vasco Capela; Tavares, Fernando; Santos, E.This article aims to perform a literature review on the topic of farmland valuation, covering the determinants of farmland value and the models that are used to price land. To do so, recent literature on the topic was combined with classical and well-known papers. All the factors considered in these papers to explain farmland prices and/or to model them were retrieved, presented, and compared. Then, the main models proposed in the literature are presented and their suitability and goals are explained. This study can help academics as it gives an overview of the current state of the art, summarizes the main factors proposed by researchers to explain farmland prices, and sheds light on new lines of research. Besides that, it is also relevant for policymakers because farmland valuation and its use have implications on society and on urban planning, which is a hot topic under discussion.