ESTG - Working papers
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- A aplicação dos Princípios de Equador pelas instituições financeiras portuguesasPublication . Santos, Tânia Cristina Simões de Matos dosA responsabilidade social das empresas é um tema de actualidade inquestionável. Nos últimos anos consolidou-se a ideia de que as empresas podem e devem assumir na sociedade um papel que transcenda a sua vocação básica de criação de riqueza. O esforço das empresas em respeitarem e incorporarem nas suas estratégias, normas de conduta que potenciem e enriqueçam as relações com colaboradores, clientes, accionistas, fornecedores, concorrentes e entidades públicas (stakeholders), promovam o ambiente e o desenvolvimento sustentável beneficia toda a comunidade e é comprovadamente valorizado pela sociedade. A assinatura da Declaração Internacional dos Bancos para o Ambiente e Desenvolvimento Sustentável e a adopção dos Princípios do Equador relativos ao financiamento de projectos constituem as principais formas de integração do conceito de desenvolvimento sustentável nas actividades das instituições de crédito. No presente trabalho pretende-se realizar um estudo sobre os Princípios do Equador, e analisar em particular a influência da respectiva adopção na estratégia e procedimentos dos bancos portugueses: o Banco Espírito Santo e o Millennium BCP.
- Is the international business environment the actual context of IB research?Publication . Ferreira, Manuel Portugal; Li, Dan; Guisinger, StephenThe International Business Environment (IBE) is argued to be the essential context for international business (IB) studies and the distinguishing factor from other management studies, and from studies of large scale enterprises. In this paper we argue for a greater environmental focus and illustrate how and how much the IBE has been included in published IB research. While extant research has often taken a uni-dimensional view, which has been mostly anchored in the cultural environment, we suggest that: (a) there is a need to developed more uni-and multi-dimensional environmental constructs, (b) a more holistic view of the IBE provides richer insights on the actual complexity that underlies IB research. Future conceptual and empirical studies that provide more comprehensive models of the IBE that overcome the usual "everything out there" are warranted.
- Technology transfer within MNES: an investigation of inter-subsidiary competition and cooperationPublication . Li, Dan; Ferreira, Manuel Portugal; Serra, Fernando RibeiroMuch theory and research that seeks to explain why and how technology transfers occur within multinational enterprises (MNEs) actually addresses the question of how these transfers occur among cooperative subsidiaries, and relies on the assumption of inter-subsidiary cooperation. However, subsidiaries do not always cooperate. We suggest that the success of technology transfer among subsidiaries depends on the extent to which the relationships among an MNE's subsidiaries (i.e. inter-subsidiary) are competitive or cooperative. Inter-subsidiary cooperation is determined by the MNE's international strategy, organizational structure, and the social relationships among subsidiaries. Both hierarchical and social relational factors drive the potential for inter-subsidiary multimarket competition that originates from the overlap on the subsidiaries' products, technologies, and market portfolios.
- Vertical integration for full outsourcing: growth and internationalization of a portuguese packaging firmPublication . Ferreira, Manuel Portugal; Armagan, Sungu; Li, DanBased on a case study of a Portuguese packaging firm, this paper examines how vertical integration of the supplier serves as a vehicle for the full outsourcing of the client firms' needs in a solution that reduces transaction costs, favors specialization, and permits small and mediumsized firms to develop competencies that may be exploited in a wide array of projects. Vertical integration by the supplier (a governance decision) is a strategic response to changes in the sourcing model of the clients. Client-supplier relationships have inter-spatial and inter-temporal value that surpasses spot market exchanges.
- Foreign entry strategies: strategic adaptation to various facets of the institutional environmentPublication . Ferreira, Manuel Portugal; Li, Dan; Jang, Yong SukIn this paper we develop a comprehensive model of MNEs' foreign entry strategies and theorize how and how much the entry strategy is likely to be determined in the interface between internal and external pressures for both conformity and legitimacy. We develop an adaptation argument, in contrast to a selection rationale, through which we enhance our understanding of the various facets of the institutional environment and the constraints international managers encounter in their internationalization strategies.
- Internal and external factors on firms' transfer pricing decisions: insights from organization studiesPublication . Li, Dan; Ferreira, Manuel PortugalWell understood in economics, accounting, finance, and legal research, transfer pricing has rarely been comprehensively explored in organization management literature. This paper explores some theoretical explanations of transfer pricing within multidivisional firms drawing insights from various organizational theories - primarily institutional theory, transaction cost economics, and social networks - to develop a conceptual model of transfer pricing. This model focuses on the nature of multidivisional firms' internal transfers, internal and external technological environments, and internal and external social environments. We highlight the importance of transfer pricing as a key strategic dimension to understand intra-firm flows and their associated costs.
- The international entrepreneurial firm's social networksPublication . Ferreira, Manuel Portugal; Serra, Fernando Ribeiro; Santos, João CarvalhoThis paper investigates theoretically the importance and impact of the international entrepreneurial firms’ (IEFs) social networks on selected firms’ strategies. We focus specifically on some core attributes of IEFs and the impact of social networks on such strategies as the choice of the foreign markets to operate and the foreign entry modes. The social networks are a major driver of the internationalization from inception and help in overcoming a variety of physical and social resource limitations as well as transactional hazards. We conclude that it is likely that both some fundamental characteristics of the IEFs and those of the foreign markets entered account for these firms reliance on their social networks.
- Firm characteristics and country institutional development: business relationships with foreign firms in transition economiesPublication . Ferreira, Manuel Portugal; Li, Dan; Serra, FernandoThe composition of firms' foreign business networks has been attended to in recent research but has seldom been subjected to empirical study in transition economies. In this study, we test hypotheses related to the composition of firms' foreign business relationships. First, we suggest that firms' characteristics matter for building a network of ties the foreign agents. Then, we consider the moderating effect of the degree of institutional development of the home country to assess to extent to which firms' foreign business relationships in transition economies are affected by the institutional development. We conduct a set of logistic regressions and one OLS regression to investigate the composition of firms' business relationships using firm-level data from 24 transition economies. The results indicate that firm size and membership in trade associations are good predictors of foreign business relationships – specifically, relationships with foreign investors, customers, and suppliers - and also of the diversity of foreign relationships. The country's institutional development radically changes which firms' characteristics matter in forming business relationships.
- O declínio das grandes empresas brasileirasPublication . Torres, Alexandre; Menezes, Emílio; Serra, Fernando; Ferreira, Manuel PortugalNeste artigo focamos o declínio organizacional, focando especificamente a evolução de uma seleção de empresas brasileiras que passaram pelo ranking das Maiores e Melhores da revista Exame. A nossa análise mostra um elevado índice de declínio entre as maiores empresas brasileiras e que há uma aceleração do declínio, ou da incapacidade de manter um nível de competitividade superior durante um período alargado de tempo. O estudo da estratégia, como disciplina que procura entender e auxiliar as empresas a capturar e suster uma vantagem competitiva sairá reforçado com a compreensão das causas de insucesso, e de perda de capacidade competitiva sustentável, das empresas.
- The impact of strategic resource seeking and market seeking strategies on foreign entry modes under institutional pressuresPublication . Ferreira, Manuel Portugal; Serra, FernandoMultinational corporations (MNCs) are subject to the various dimensions of the external institutional environments where they operate. Institutional theory suggests that MNCs need to conform to the prevailing rules, norms and procedures of the locations where they operate in order to survive and grow. This means that MNCs need to develop the best possible configurationof strategy-structure for their worldwide operations. Previous research has noted that in these conditions firms may simply seek to follow a referent other. However, MNCs’ specific strategy for a focal foreign operation is likely to determine the entry mode for each host country. That is, in certain circumstances it may be whether MNCs are pursuing a market-seeking strategy or a strategic resource seeking strategy that shapes the entry mode in face of the prevailing institutional pressures. We contribute to the understanding of entry modes into foreign markets as a reflection of a strategic choice that is bound by institutional constraints.