DISPOSITION EFFECT AMONG BRAZILIAN EQUITY FUND MANAGERS

The disposition effect predicts that investors tend to sell winning stocks too soon and ride losing stocks too long. Despite the wide range of research evidence about this issue, the reasons that lead investors to act this way are still subject to much controversy between rational and behavioral explanations. In this article, the main goal was to test two competing behavioral motivations to justify the disposition effect: prospect theory and mean reversion bias. To achieve it, an analysis of monthly transactions for a sample of 51 Brazilian equity funds from 2002 to 2008 was conducted and regression models with qualitative dependent variables were estimated in order to set the probability of a manager to realize a capital gain or loss as a function of the stock return. The results brought evidence that prospect theory seems to guide the decision-making process of the managers, but the hypothesis that the disposition effect is due to mean reversion bias could not be confirmed.

Participate (or not) in international trade fairs? Decision factors of Portuguese managers

Portugal is a small economy, with an open domestic market that needs competitive exporters to prosper. Trade fairs are an international promotion tool that can be used by firms when considering export development and expansion. This study identifies and evaluates the critical factors that influenced the decision making process of Portuguese SME’s (Small and Medium-Sized Enterprises) managers to participate (or not) in international trade fairs. The results indicate that the firm’s critical decisions factors to select an international trade fair were value for money and the stand (location, typology and size)

Impact of Social Responsibility Programmes in Stakeholder Satisfaction: An Empirical Study of Portuguese Managers’ Perceptions

Investigação no âmbito do Projeto de Doutoramento(PhD), especialidade de Gestão Global, Estratégia e Desenvolvimento Empresarial (ISCTE-IUL - 2012, classificação de “Aprovado com Muito Bom”).

From Customer to Stakeholder Management: Quality Managers perceptions of Sustainability and Social Responsibility concepts, motivations and impacts

57Th EOQ Congress, Quality Renaissance - Co-creating a Viable Future"

Evaluation of portuguese public administration - institutions, managers and workers

Apresentação realizada a uma delegação da Administração pública da Bulgária, que visitou o INA em 2 de Dezembro de 2008.

Evaluation of training of public managers in the context of portuguese public administration

Comunicação apresentada na 32ª conferência anual do European Group of Public Administration (EGPA), em Toulouse.

Portuguese public managers and administrative reform in the global context of competitiveness

Comunicação apresentada no 27th International Congress of Administrative Sciences "Global Competitiveness and Public Administration: implications for education and training" em Abu Dhai, United Arb Emirates de 9 a 14 de Julho de 2007.

Moral Mazes: the world of corporate managers (20th anniversary edition) [Robert Jackall]

Recensão do livro Moral Mazes: the world of corporate managers (20th anniversary edition) [Robert Jackall], 2010, Oxford University Press, Nova Iorque

Resilience in organizations: The perspective of managers in Portugal and Germany

The concept of organizational resilience has become popular in Organizational Studies during the last decades - yet researchers have not been able to find one commonly accepted definition for what exactly it is. What are the drivers of resilience in organizations? Are there certain cultural factors and national differences regarding the perception of the concept? This paper aims to answer these questions from a perspective of within institutions. A group of managers from different corporations in Portugal and Germany has been interviewed in order to understand how managers experience and characterize organizational resilience. Based on qualitative inductive research the results show that organizational resilience is built on four main drivers: a sense of proximity, a sense of openness, a sense of challenge and a sense for structure.

Repository managers: guidelines to meet H2020 requirements

Apresentação realizada em 23 outubro de 2015 no: National Workshop for Open Access: «Open Access to research publications & data», Nicosia, Chipre. Também acessível em: http://hdl.handle.net/10797/14460

Codes of best practice in competitive markets for managers

We study firms' corporate governance in environments where possibly heterogeneous shareholders compete for possibly heterogeneous managers. A firm, formed by a shareholder and a manager, can sign either an incentive contract or a contract including a Code of Best Practice. A Code allows for a better manager's control but makes manager's decisions hard to react when market conditions change. It tends to be adopted in markets with low volatility and in low-competitive environments. The firms with the best projects tend to adopt the Code when managers are not too heterogeneous while the best managers tend to be hired through incentive contracts when the projects are similar. Although the matching between shareholders and managers is often positively assortative, the shareholders with the best projects might be willing to renounce to hire the best managers, signing contracts including Codes with lower-ability managers.

Raising the Level of Moral Thinking among Managers Will Not Help. Kohlberg's Conventionality and Systemic Ethical Flaws in Business

Business ethicists often assume that unethical behavior arises when individuals deviate from the norms and responsibilities that are institutionalized to frame economic activities. People's greed motivates them to violate the rules of the game. In Kohlberg's terms, it is assumed that such actors make decisions in a preconventional way and act opportunistically. In this article, we propose an alternative interpretation of deviant behavior, arguing that such behavior does not result from a lack of conventional moral guidance but rather from the fact that characteristics attributed to preconventional morality by Kohlberg - the purely incentive and punishment driven opportunistic morality - have become the conventionalized morality. The prevailing norms that economic actors have internalized as their yardstick are those of the preconventional Homo economicus. Not the deviation from, but the compliance with the rules of the game explains many forms of harmful and illegal decisions made in corporations.

Dietetic Managers (PDF 87 KB)

NI Strategy Document 2002 - 2005