Preferences and consumer habits related to bread in the centre of Portugal

Purpose – Bread is one of the most consumed foods in the world, and its main function is to provide nutrients and energy for the body. Thus, the purpose of this paper was to raise awareness about the consumption habits of bread and consumer preferences in the region of Viseu (centre of Portugal), assessing the extent to which the preferences and consumption habits differ based on individual variables. Design/methodology/approach – The study was conducted by means of a questionnaire by direct interviewing. The questionnaire included sections aimed at gathering information about demographics, consumption habits and preferences related to bread. The sample consisted of 500 consented respondents. Findings – The results showed significant differences between genders regarding the type of bread eaten: women consumed less wheat bread (52 per cent against 62 per cent; p 0.029) and less unsalted bread (0.3 per cent against 3 per cent; p 0.023), but more whole bread (25 per cent against 11 per cent; p 0.001) and more bread with cereal grains (23 per cent against 11 per cent; p 0.001), thus revealing a trend for a nutritionally more adequate choice. Accordingly, women valued more the composition of the bread when purchasing it (p 0.001). It was also observed a trend for a lower consumption of wheat bread among classes with more advanced studies (47 per cent on university graduates against 60 per cent on nongraduates; p 0.004). Originality/value – This work is innovative because it was the first time the preferences and consuming habits of a sample of Portuguese population regarding bread were accessed, altogether. The results hereby obtained may be of importance both to understand the nutritional importance of bread in the diet of the Portuguese and also for the industry and manufacturers to better correspond to the buying preferences.

Determinants Of Firm Terminal Value: The Perspective Of North American And European Financial Analysts

Company valuation models attempt to estimate the value of a company in two stages: (1) comprising of a period of explicit analysis and (2) based on unlimited production period of cash flows obtained through a mathematical approach of perpetuity, which is the terminal value. In general, these models, whether they belong to the Dividend Discount Model (DDM), the Discount Cash Flow (DCF), or RIM (Residual Income Models) group, discount one attribute (dividends, free cash flow, or results) to a given discount rate. This discount rate, obtained in most cases by the CAPM (Capital asset pricing model) or APT (Arbitrage pricing theory) allows including in the analysis the cost of invested capital based on the risk taking of the attributes. However, one cannot ignore that the second stage of valuation that is usually 53-80% of the company value (Berkman et al., 1998) and is loaded with uncertainties. In this context, particular attention is needed to estimate the value of this portion of the company, under penalty of the assessment producing a high level of error. Mindful of this concern, this study sought to collect the perception of European and North American financial analysts on the key features of the company that they believe contribute most to its value. For this feat, we used a survey with closed answers. From the analysis of 123 valid responses using factor analysis, the authors conclude that there is great importance attached (1) to the life expectancy of the company, (2) to liquidity and operating performance, (3) to innovation and ability to allocate resources to R&D, and (4) to management capacity and capital structure, in determining the value of a company or business in long term. These results contribute to our belief that we can formulate a model for valuating companies and businesses where the results to be obtained in the evaluations are as close as possible to those found in the stock market