13 documents found, page 1 of 2
The impact of Covid-19 on Portuguese Accommodation Sector Default
Costa, Magali; Lisboa, Inês; Fortes, FabritonPurpose: Worldwide travel restrictions and other measures to mitigate the pandemic situation caused a period of instability for accommodation companies. The consequences of this global phenomenon are still being explored. This study aims to understand the impact of Covid-19 on the probability of not fulfilling its obligations (default risk) and on its determinants in the Portuguese accommodation sector.Methodol...
The Impact of Family Control on Capital Structure on Emerging Economies
Lisboa, Inês; Costa, Magali; Burgos, LisbethThis work aims to understand the impact of family control on firms’ capital structure in emerging markets. Multinational firms from Latin American countries are analyzed from 2011 to 2021, using dynamic models. The results show that family firms are singular compared to non-family ones. Family control positively impacts total and long-term debt. Moreover, corporate governance variables are also relevant to expl...
Determinants of default prediction of the tourism sector: the case of Portugues...
Lisboa, Inês; Costa, Magali; Vouga, BeatrizThis study intends to understand the determinants of default of tourism SMEs (Small and Medium Enterprises), i.e., which aspects impact the probability that the company will not comply with its financial obligations. For this purpose, a panel data composed from a sample of 3,945 Portuguese SMEs, over ten years, was analysed. An ex-ante criterion (based on a set of financial ratios) was used to classify firms in...
The impact of Covid-19 on Portuguese Accommodation Sector Default
Costa, Magali; Lisboa, Inês; Fortes, FabritonPurpose: Worldwide travel restrictions and other measures to mitigate the pandemic situation caused a period of instability for accommodation companies. The consequences of this global phenomenon are still being explored. This study aims to understand the impact of Covid-19 on the probability of not fulfilling its obligations (default risk) and on its determinants in the Portuguese accommodation sector. Methodo...
The Impact of an IPO Launch on Corporate Brand Value
Tavares, Daniela; Febra, Lígia; Costa, MagaliAbstractPurpose: This study aims to investigate the impact of IPO launches on corporate brand value.Methodology: The sample consists of 33 companies with international corporate brands that went public between 2007 and 2019. Brand values from the BrandFinance ranking were used as a proxy for corporate brand value. After analyzing the normality of the data, the Wilcoxon test was applied to the differences in bra...
Reputation, return and risk: A new approach
Febra, Lígia; Costa, Magali; Pereira, FábioCorporate reputation has deserved attention in recent years from firms and researchers given its impact on creating a competitive advantage and on keeping a sustained superior performance. However, the impact of corporate reputation on risk, in addition to being less studied, still presents controversial results. Thus, the purpose of this study is to, simultaneously, analyze the effect of corporate reputation o...
Is Additional CEO Remuneration a Performance Driver? DAX CEOs Evidence
Costa, Magali; Lisboa, Inês; Marzinzik, RenéThis study aims to understand the impact of the additional remuneration of the Chief Executive Officer (CEO) over the mean remuneration of the board of directors on firms’ financial performance. The objective is to understand if the highest compensation of the CEO is a firm performance driver. In addition to the impact of total remuneration, the different remuneration components were split and analyzed. An unba...
Corporate Reputation and Stock Liquidity: the US case
Domingos, Fabiana; Febra, Lígia; Costa, MagaliPurpose: The purpose of this paper is to analyze if there is a positive relationship between corporate reputation communication through media ranking and stock liquidity.Methodology: A model based on firms' financial market data was estimated, through a panel data analysis that included 18,444 observations, from a full sample of 348 firms listed on the New York Stock Exchange (NYSE), half of which were listed i...
Is the Financial Report Quality Important in the Default Prediction? SME Portug...
Costa, Magali; Lisboa, Inês; Gameiro, AnaThis work analyses whether financial information quality is relevant to explaining firms’ probability of default. A financial default prediction model for SMEs (Small and Medium Enterprises) is presented, which includes not only traditional measures but also financial reporting quality (FRQ) measures. FRQ influences the decision-making due to its impact on financial information, which has repercussions on the a...
Analysis of Family SMEs Default Risk: the Portuguese Case
Lisboa, Inês; Costa, Magali; Santos, FilipaThis work aims to study the default risk of family SMEs (small and medium enterprises) in Portugal, more specifically in the Leiria region. For this purpose, a panel data of 2,658 firms over the period 2012-2017 is analyzed. Using an ex-ante classification of defaulting, results suggest that there are more compliant firms and the number of defaulting firms have decreased over the period analyzed. Then, using a ...