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- Modeling the Dynamic Linkage between Renewable Energy Consumption, Globalization, and Environmental Degradation in South Korea: Does Technological Innovation Matter?Publication . Adebayo, Tomiwa; Coelho, Manuel Francisco; Onbaşıoğlu, Dilber Çağlar; Rjoub, Husam; Mata, Mário Nuno; Carvalho, Paulo Viegas; Xavier Rita, João; Adeshola, IbrahimThe present research assesses the influence of globalization and technological innovation on CO2 emissions in South Korea as well as taking into account the role of renewable energy consumption and energy consumption utilizing datasets between 1980 and 2018. The autoregressive distributed lag (ARDL) bounds testing method is utilized to assess long-run cointegration. The outcome of the ARDL bounds test confirmed cointegration among the series. Furthermore, the ARDL reveals that economic growth, energy consumption and globalization trigger environmental degradation while technological innovation improves the quality of the environment. In addition, the study employed the frequency domain causality test to capture causal linkage among the series. The major advantage of this approach is that causal linkage between series can be captured at the short, medium and long term, respectively. The outcomes of the causality test revealed that globalization, technological innovation, economic growth and energy use can predict CO2 emissions in South Korea.
- The effect of inventory leanness on firms’ credit ratings: the case of PakistanPublication . Carvalho, Paulo Viegas; Shah, Syed Hammad Hussain; Zaheer, Abrish; Mata, Mário Nuno; Lourenco, AntonioInventory leanness requires that firms minimize inventory mistreatment and misuse. A firm performance deteriorates because of high inventory misuse, and because of such an issue, the effect on the firm’s credit rating can also be seen. This study examines the effect of inventory leanness on firms’ credit ratings. It aims to create an understanding of the relationship between inventory leanness and the firm’s financial performance and provides insight into the credit rating system of Pakistan. We analyze secondary Pakistan data between 2008 and 2017. Among the sixty firms on Pakistan Stock Exchange that are rated by PACRA, only thirty-eight have complete data available on their respective websites. By using panel data analysis, the results indicate that inventory leanness and credit ratings are positively related. In an added analysis, we evaluate the financial performance in the context of credit rating by using control variables (size, leverage, and capital intensity ratio) and dummy variables (loss and subordinate debt). Our results are consistent with earlier studies.
- Eficácia do relatório de auditoria sobre o pressuposto da continuidadePublication . Carvalho, Paulo Viegas; Sarmento, Manuela; Alves, Joaquim SantosEste artigo estuda a informação financeira prestada pelas empresas na Informação Empresarial Simplificada, tendo por objetivo, quanto ao pressuposto da continuidade, analisar e verificar se os relatórios dos auditores contêm alertas oportunos respeitantes às entidades, que cessam a atividade durante o período económico seguinte. Neste sentido, analisam-se as demonstrações financeiras de 1.284.650 empresas-ano sem Portugal, referentes ao período entre 2011 e 2014 e constantes da base de dados da Informa D&B. Os resultados confirmam que os auditores transmitiram previamente na maior parte dos casos alertas adequados sobre as situações observadas de falência, embora a proporção de situações em que tal não aconteceu seja significativa. Para além disso, o artigo comprova que os alertas dos auditores contêm informação adicional relevante para além da informação pública, por isso sendo úteis para a ponderação num modelo de previsão de falência.