12 documents found, page 1 of 2
Gold's hedging and safe haven properties for European stock and bond markets
Vieira, D. S.; Carvalho, P. V.; Curto, J.; Laureano, L.Most portfolio managers and risk managers strive to pick assets that lead to efficient financial risk mitigation; among them, gold stands out. This paper provides new insights into the role of gold as both a hedge and a safe haven towards European stock and sovereign bond markets. We base the analysis on evidence spanning the Euro's inception to the COVID-19 pandemic spread across Europe. To capture gold's hedg...
Modeling and forecasting tourism flow in Portugal: Perspectives for a strategic...
Ramos, F. R.; Lacerda, L.; Curto, J.Purpose: The increase of Tourism in Portugal, as well as the companies related to it, it is necessary to analyze and forecast the flow of tourists so that the management of the business is endowed with a competitive strategy. Given the changes in the 'recent' dynamics of tourism data, this article discusses the contributions and limitations of using classical forecasting methodologies, when applied to this sect...
A inteligência emocional e o desempenho dos colaboradores: estudo empírico numa...
Falcão, P. F.; Cunha, M. P.; Curto, J.; Oliveira, F.A literatura sobre inteligência emocional mostra que este tipo de inteligência tem uma relação positiva e direta com o desempenho dos gestores. Com o objetivo de contribuir para esta linha de investigação, procedeu-se a um estudo envolvendo 149 gestores comerciais de empresas numa grande instituição financeira portuguesa. A análise empírica baseou-se num questionário de autorrelato da inteligência emocional e d...
The Halloween effect in European sectors
Carrazedo, T.; Curto, J.; Oliveira, L.We present economically and statistically empirical evidence that the Halloween effect is significant. A trading strategy based on this anomaly works persistently and outperforms the buy and hold strategy in 8 out of 10 indices in our sample. We present evidence that the Halloween strategy works two out of every three calendar years and if an investor followed it “blindly”, it would yield an annual average exce...
The value relevance of reputation for sustainability leadership
Lourenço, I. C.; Callen, J. L.; Branco, M. C.; Curto, J.This study investigates whether the market valuation of the two summary accounting measures, book value of equity and net income, is higher for firms with reputation for sustainability leadership, when compared to firms that do not enjoy such reputation. The results are interpreted through the lens of a framework combining signalling theory and resource-based theory, according to which firms signal their commit...
Disclosure of R&D activities
Silva, S. M. T.; Morais, A. I.; Curto, J.The aim of this study is to investigate whether the dissemination of information about Research and Development (R&D) in Sweden and Finland has increased upon the adoption of International Accounting Standard no. 38 (IAS 38) for companies listed on the “Stockholm Stock Exchange” and the “Helsinki Stock Exchange”, and also to identify the determinants of these disclosures. The sample is composed of 36 companies ...
How does the market value corporate sustainability performance?
Lourenço, I.; Branco, M.; Curto, J.; Eugénio, T.This study provides empirical evidence on how corporate sustainability performance (CSP), as proxied by membership of the Dow Jones sustainability index, is reflected in the market value of equity. Using a theoretical framework combining institutional perspectives, stakeholder theory, and resource-based perspectives, we develop a set of hypotheses that relate the market value of equity to CSP. For a sample of N...
Predicting the financial crisis volatility
Curto, J.; Pinto, J.A volatility model must be able to forecast volatility even in extreme situations. Thus, the main objective of this paper, and due to the most recent increase in international stock markets' volatility, is to check which one of the most popular autoregressive conditional heteroskedasticity models (GARCH, GJR, EGARCH or APARCH) is more able to predict the extreme volatility in 2008 considering the daily returns ...
The heteroskedasticity-consistent covariance estimator in accounting
Curto, J.; Pinto, J.; Morais, A.; Lourenço, I.The main purpose of this paper is to compare the White (1980) heteroskedasticity-consistent (HC) covariance matrix estimator with alternative estimators. Many regression packages compute the White (1980) heteroskedasticity-consistent (HC) covariance matrix estimator. The common procedure in Accounting and Finance research to deal with the heteroskedasticity problem is based on this estimator, despite its worse ...
Determinant values in the medical act of prescribing in the Portuguese context
Pinto, J.; Ferreira da Silva, A.; Curto, J.he purpose of this work is to identify and understand the preferential hierarchy of values set by the medical profession in the act of prescribing. Our target population consisted of physicians with practice in Portugal. From this universe, a random sample of 102 doctors was selected as the basis for this investigation. To achieve our aim, we used conjoint analysis as the principal statistical tool. Briefly, th...