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- Os Intangíveis no Balanced Scorecard: A sua relevância na gestão empresarial e na estratégia do negócio.Publication . Antunes, Marina Godinho; Mucharreira, Pedro RibeiroUma estratégia de negócio define claramente qual a direção que um negócio seguirá e as fases que são necessárias para que os seus objetivos sejam alcançados.A medição e a avaliação são processos que permitem às empresas assegurar que as suas metas e objetivos são atingidas e todos os colaboradores de uma organização estão incluídos nessa responsabilidade. A importância dos ativos intangíveis está associada à sua capacidade para criar valor, sendo que apenas são alvo de interesse os que forem estrategicamente significativos. O presente artigo é baseado numa revisão da literatura e pretende servir de reflexão crítica às vantagens e limitações do Balanced Scorecard e a forma como os ativos intangíveis são incorporados no modelo. Por outro lado, pretende-se salientar a enorme importância do Balanced Scorecard para a estratégia de negócio, enquanto instrumento de gestão estratégica e a relevância dos ativos intangíveis na criação de valor para as organizações. Este artigo constitui-se, de igual forma, como um importante suporte teórico para desenvolver, posteriormente, um modelo de investigação de natureza empírica.
- A Internacionalização e a importância das exportações na atividade empresarial: o setor do calçado em PortugalPublication . Antunes, Marina Godinho; Mucharreira, Pedro RibeiroA globalização da economia e o crescimento dos mercados além-fronteiras traduz-se em novas oportunidades para o setor empresarial, apresentando novos desafios para o desenvolvimento das empresas. Neste contexto, a componente das exportações é cada vez mais relevante, assumindo um papel estratégico para as organizações, bem como para o crescimento económico dos diferentes países. A presente investigação teve como objetivo avaliar o impacto das variáveis independentes, representadas pelas vendas das exportações (VE), as vendas do mercado interno (VI), o retorno sobre os ativos (ROA) e o número de anos de atividade da empresa (AC) sobre o desempenho das organizações, sendo este desempenho medido pelo indicador do retorno sobre as vendas (ROS). A amostra baseou-se em 300 empresas portuguesas do setor do calçado com atividade de exportação, tendo o estudo incidido sobre os anos 2011, 2012 e 2013. Foi utilizado um modelo de regressão linear múltipla, onde o indicador ROS foi correlacionado com as variáveis VE, VI, ROA e AC. Os resultados obtidos permitem concluir que um maior ROA e um menor valor de VE conduzem, em média, à obtenção de um valor mais elevado no ROS, sendo de referir que o efeito de ambas as variáveis preditoras é significativo. Assim, o resultado de VE apresenta um valor negativo (B2 = - 9,059 × 10 -5; t = - 2,304; p = 0,021) e o efeito da variável ROA revela-se positivo (B1 = 0,603; t = 65,488; p = 0,000). Relativamente às variáveis VI e AC, as mesmas foram excluídas do modelo, uma vez que não apresentaram relevância estatística.
- Os efeitos das variáveis macroeconómicas no desempenho das organizações: evidência das pequenas e médias empresas em PortugalPublication . Antunes, Marina Godinho; Mucharreira, Pedro RibeiroA presente investigação teve como objetivo avaliar os efeitos de algumas variáveis macroeconómicas no desempenho de 4.428 pequenas e médias empresas portuguesas, no período entre 2003 e 2013. As variáveis macroeconómicas estudadas foram a taxa de juro, a taxa de inflação, o crescimento do Produto Interno Bruto (PIB) e o investimento. Por sua vez, o desempenho das empresas foi analisado através do indicador financeiro Return on Equity (ROE). Foi utilizado um modelo de regressão linear múltipla, onde o indicador ROE foi correlacionado com as quatro variáveis macroeconómicas. A taxa de inflação e o investimento foram consideradas variáveis relevantes na explicação do modelo e na caraterização do ROE. Com base nos coeficientes obtidos, foi possível concluir que o aumento de uma unidade na taxa de inflação resulta num aumento médio de 22,303 no valor do indicador ROE e o aumento de uma unidade no investimento implica uma desvalorização de 6,816, estabelecendo-se uma relação positiva e outra negativa entre as duas variáveis e o indicador ROE. Quanto à taxa de juro e o crescimento do PIB, estas variáveis foram excluídas porque, embora tivessem a sua representatividade no modelo, não apresentaram relevância estatística. Considerando os resultados obtidos, esta investigação constitui-se como um importante contributo para o conhecimento do desempenho das pequenas e médias empresas portuguesas, no que respeita aos efeitos das mudanças do meio económico onde estão inseridas, bem como aos impactos das políticas macroeconómicas adotadas, permitindo este conhecimento uma melhor tomada de decisão por parte das organizações em função da conjuntura económica.
- The Role of TQM, innovation and internationalization strategies on the financial sustainability of higher education institutions (HEIS)Publication . Antunes, Marina Godinho; Mucharreira, Pedro Ribeiro; Texeira Fernandes Justino, Maria Do Rosário; Texeira Quirós, JoaquínThis research aims to study the role that Total Quality Management (TQM), innovation and internationalization strategies may have on the financial sustainability of Portuguese higher education institutions (HEIs), through a literature review that supports the presentation of a research model proposed by the authors. This research is justified by the observation of a reality still relatively little studied at the level of higher education institutions, not only in Portugal, but also in other countries, particularly regarding the prospect of financial sustainability, in line with the growing relevance that quality and innovation strategies have been taken in these institutions. Undoubtedly, also the perspective of internationalization is something that currently HEIs cannot ignore at all if they want to be considered competitive and innovative in the academic world. Increasingly, international rankings that follow strict criteria for assessing the quality, innovation and scientific research of HEIs have assumed paramount importance in the analysis of the performance of these institutions. Education, and particularly education provided in HEIs, is a resource of enormous value for the development of any society [1-2]. The literature has demonstrated that TQM practices are a powerful tool for improving organizational learning and increasing competitive advantage [3-4]. In addition to the importance of the quality of education in HEIS, emphasized through the implementation of TQM practices, this will be more easily achieved by considering organizational learning and organizational innovation to provide better services, not only to students, but also to the whole society. Despite the importance identified in the relationship between these different dimensions, the literature has also highlighted the fact that educational institutions, despite the growing recognition of their importance, are falling short of other organizations, concerning the implementation of practices leading to a culture of total quality. Regarding the methodology, the data will be obtained through the application of a questionnaire prepared by the authors, to evaluate the different dimensions of the proposed research model. The sample will be for convenience, consisting of about 200 emails from members of the management boards of Portuguese universities and polytechnics. In the treatment of quantitative data, the use of the multiple linear regression model is considered, to investigate the possible relationships between the different dimensions incorporated in the model. According to Hair et al. [6], it is a practical statistical tool that examines the linkages between a set of independent variables with a dependent variable. In this way, we consider this statistical method the most adequate for the development of our research. In terms of discussion of results, it is intended to characterize the various dimensions of the TQM, as well as the strategies of innovation and internationalization in the institutions of university and polytechnic higher education in Portugal, seeking to understand their role and possible relations with the financial sustainability of these institutions.
- The dynamics of learning organizations in higher education institutionsPublication . Antunes, Marina Godinho; Mucharreira, Pedro Ribeiro; Texeira Fernandes Justino, Maria Do Rosário; Texeira Quirós, JoaquínThis research aims to study the role that learning organizations may have on Portuguese higher education institutions (HEIs), through a literature review that supports the presentation of a conceptual model proposed by the authors, which aims to study the possible relationships between learning organizations and Total Quality Management (TQM) practices, innovation strategies, internationalization, and organizational performance. The survival of HEIs depends on how these institutions accept change, improve their practices and react to competitiveness. Nowadays, the most relevant aspects of education in higher education are translated by learning, dynamic structures, flexibility, and quality. Consequently, the higher education system will have to adapt to the continuous changes and new requirements, to achieve the success and the proposed objectives. Thus, to differentiate themselves from their competitors, organizations must develop their resources, promoting the creation of knowledge and the dissemination of information. Regarding the methodology of this research, the data will be obtained through a questionnaire to evaluate the different dimensions of the proposed conceptual model. The sample will consist of about 200 emails from members of the management boards of Portuguese HEIs. In the treatment of quantitative data, a model of structural equations (SEM) will be used, to investigate the possible relations between the different dimensions incorporated in the model. In terms of the discussion of results, it is intended to characterize the relationship between the concept of learning organizations and TQM, innovation, internationalization, and performance in Portuguese HEI.
- The relevance of financial and non-financial indicators to assess quality and performance of Higher Education Institutions (HEI)Publication . Antunes, Marina Godinho; Mucharreira, Pedro Ribeiro; Texeira Fernandes Justino, Maria Do Rosário; Texeira Quirós, JoaquínIn today's era of globalization, higher education institutions (HEIs) face constant challenges. More and more competitive environments are emerging in the various markets and one of the main objectives that has assumed relevance in the scope of their activities is the creation of value for the institutions and their financial sustainability. HEIs performance has been changed significantly, once these educational institutions are now forced to look for new sources of funding, assuming more and more the characteristics of a competitive market. In this way, HEIs that want to assert themselves in the markets should focus on strategic objectives that ensure financial sustainability like any other organizations in other sectors. For this purpose, it will be necessary to know their business processes very well, adopting a management approach that allows them to evaluate their quality and performance, both in national and international markets. The institutions seek to improve their competitiveness by implementing management strategies oriented towards quality and financial sustainability, using performance measurement systems that include a wide variety of financial and non-financial measures [1]. The advantages of non-financial performance measures have been cited in the literature [2-4], highlighting that these measures focus particularly on a long-term perspective, leading to better organizational performance. These measures enable managers to better understand the relationships between the various strategic objectives, facilitate communication between employees' actions and defined goals, and assist in the allocation of resources and the definition of priorities, considering those strategic objectives. In this context, it is extremely important to identify performance indicators, both financial and non-financial, which allow the evaluation of HEIs in terms of quality and performance. Measuring the performance of organizational goals is a key issue in the management of HEIs because without these measurement systems, organizations will not be able to efficiently and effectively deal with the uncertainty related to the contexts in which they are inserted [5]. Following this evidence, this communication proposes a research model defined in two distinct stages. In the first stage, it is intended to define the financial and non-financial indicators considered most relevant in the evaluation of the quality and performance of HEIs. Consequently, this research proposal intends to develop a model of analysis of cause and effect relationship between these indicators and the referred dimensions. Regarding the methodology, the data will be obtained through the application of a questionnaire to evaluate the different dimensions of the proposed conceptual model. The sample will consist of about 200 emails from members of the management boards of Portuguese universities and polytechnics. In the treatment of quantitative data, a model of structural equations (SEM) will be used, to investigate the possible relations between the different dimensions incorporated in the model. In terms of discussion of results, it is intended to characterize the relevance of financial and non-financial indicators, seeking to understand their role and possible relations with the quality and performance of these institutions.
- A importância do turismo no desempenho financeiro das empresas hoteleiras – proposta de um modelo de investigaçãoPublication . Antunes, Marina Godinho; Mucharreira, Pedro Ribeiro; Abranja, NunoO presente artigo pretende apresentar uma proposta de modelo de investigação que possa contribuir para o reforço da compreensão de como algumas variáveis relativas à atividade turística poderão influenciar o desempenho financeiro das empresas hoteleiras em Portugal. O estudo, ainda em desenvolvimento, pretende em concreto aferir os impactos no endividamento das empresas que atuam nesta área específica da atividade turística. O setor do turismo, e em particular a hotelaria, contribuem de forma expressiva para o desenvolvimento da Economia de Portugal, uma vez que apresentam um peso determinante na balança de pagamentos nacional. Este artigo pretende, desta forma, fornecer uma visão do impacto económico do alojamento turístico na economia em geral e no turismo em particular, nos anos mais recentes no nosso país, apresentando dados e contextos quantitativos e qualitativos que fundamentam o desenvolvimento e impacto na atividade turística. A nível metodológico, foram tidas em conta as informações financeiras de 275 empresas hoteleiras disponibilizadas na base de dados SABI (Sistema de Análisis de Balances Ibéricos). Posteriormente, o tratamento dos dados foi realizado através do software SPSS (Statistical Package for the Social Sciences), tendo em vista a resposta às hipóteses de investigação agora apresentadas.
- Total Quality Management Implementation in Portuguese Higher Education InstitutionsPublication . Antunes, Marina Godinho; Mucharreira, Pedro Ribeiro; Texeira Fernandes Justino, Maria Do Rosário; Texeira Quirós, JoaquínThis research aims to study the role that the implementation of Total Quality Management (TQM) may have on organizational performance of Portuguese university and polytechnic higher education institutions, through a literature review that supports the presentation of a conceptual model proposed by the authors. This research is justified by the observation of a reality still relatively little studied at the level of higher education institutions, not only in Portugal but also in other countries, particularly about the perspective of their financial sustainability, in line with the growing relevance that quality has come to assume in these institutions. Regarding the methodology, a study of a qualitative nature is contemplated, although using quantitative techniques, being the data obtained through the application of a questionnaire elaborated by the authors to evaluate the different dimensions of the proposed conceptual model. In the treatment of quantitative data, a model of structural equations (SEM) will be used, to investigate the possible relations between the different dimensions incorporated in the model.
- The Relevance of Tourism in Financial Sustainability of HotelsPublication . Mucharreira, Pedro Ribeiro; Antunes, Marina Godinho; Abranja, Nuno; Texeira Fernandes Justino, Maria Do Rosário; Texeira Quirós, JoaquíntThe macroeconomic context is an extremely important factor for the growth and development of compa-nies, and for the hotel sector, being expected that the performance of hotel companies should be stronglydependent on the conditions and the macroeconomic environment where they are inserted.Using a panel data methodology, this research analyzed the growth of hotel companies, the size ofhotel companies, total number of guests in the sector, total revenues, and total income of the sector, withthe corporate indebtedness variable, given by total liabilities/total assets ratio. It is concluded that 91.5%of the average variation in the corporate indebtedness is determined by the remaining variables of thestudy, with the remaining 8.5% variation explained by other factors not specified. It is also concluded thatthere is no statistically significant difference between the values of the corporate size variable throughoutthe study, existing a negative relation between this variable and the variables corporate size, number ofguests, and tourism revenue, and a positive relation with the variables corporate growth rate and totalincome of the hospitality industry.This research provides a great contribution and enrichment of existing literature because with adetailed knowledge concerning these topics, managers’ can base their decision making on these causeand effect relationships, looking for the best decisions that will provide the highest profitability.
- Os intangíveis no Balanced Scorecard: a sua relevância na gestão empresarial e na estratégia do negócioPublication . Antunes, Marina Godinho; Mucharreira, Pedro RibeiroUma estratégia de negócio define claramente qual a direção que um negócio seguirá e as fases que são necessárias para que os seus objetivos sejam alcançados.A medição e a avaliação são processos que permitem às empresas assegurar que as suas metas e objetivos são atingidas e todos os colaboradores de uma organização estão incluídos nessa responsabilidade. A importância dos ativos intangíveis está associada à sua capacidade para criar valor, sendo que apenas são alvo de interesse os que forem estrategicamente significativos. O presente artigo é baseado numa revisão da literatura e pretende servir de reflexão crítica às vantagens e limitações do Balanced Scorecard e a forma como os ativos intangíveis são incorporados no modelo. Por outro lado, pretendese salientar a enorme importância do Balanced Scorecard para a estratégia de negócio, enquanto instrumento de gestão estratégica e a relevância dos ativos intangíveis na criação de valor para as organizações. Este artigo constitui-se, de igual forma, como um importante suporte teórico para desenvolver, posteriormente, um modelo de investigação de natureza empírica.