923 resultados para Financial Performance


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Textiles and tourism sectors are two important sectors in Portuguese economy. Its high exposure to both internal and international economy volatility transform the companies operating in these economic sectors especially vulnerable to recent economic crises in Portugal and European Union. The objective of this paper is to evaluate and understand the impact of size and age on the financial health of textile and tourism companies, measured by economic indices. An empirical based model is proposed. Its implications are derived and tested on a sample of 4061 Portuguese companies from textile and tourism sector, during the period 2005-2009. The results conclude that age has a stronger impact on the risk of failure than size. Whereas the effect of age is generally positive regarding the financial health of the company, the effect of size is less clear and depends on the age of the company.

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O objectivo deste artigo é investigar a relação entre a divulgação de informação ambiental nos relatórios e contas anuais e a performance financeira no mercado de capitais das empresas cotadas em Portugal. Para tanto, é usada uma amosta de 35 empresas não financeiras cotadas no mercado de cotações oficiais da Euronext Lisboa no período de 5 anos compreendido entre 2000 e 2004. Os resultados empíricos obtidos sugerem que as empresas que não divulgam informação ambiental têm uma performance financeira – rendibilidade, risco e rendibilidade ajustada ao risco – superior às que o fazem. Em particular, as empresas que apresentam um melhor relato ambiental, divulgando informação ambiental qualitativa e quantitativa, são as que apresentam pior performance financeira. Contudo, as diferenças encontradas ao nível da performance financeira não são estatisticamente significativas. Estes resultados são robustos às duas metodologias usadas: estudos de carteira e tabelas de contingência.

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This paper discusses the financial and economic analysis of prevention of needlestick accidents related to Occupational Health and Safety projects and presents the application to a case study involving a Hospital.

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The objective of this study was to analyze the environmental performance of aquaculture in the city of Colorado do Oeste, Rondônia State, Brazil. Fifteen fish farmers were interviewed. For data collection, structured interviews were carried out, using a questionnaire based on information supplied by the United Nations Food and Agriculture Organization (FAO). The questionnaire considered 12 items, organized into three main topics: a) social and legal standards b) environmental standards c) standards of food safety and hygiene. The questionnaire considered 12 items, organized into three main topics: a) social and legal standards b) environmental standards c) standards of food safety and hygiene. Aquaculture in the city of Colorado do Oeste, Rondônia presents two fish production systems: extensive and semi-intensive. In the semi-intensive system, stocking rate was one fish per m3, on average; tambaqui (Colossoma macropomum), tilapias (Oreochromis spp.), pirarucu (Arapaima gigas) and pintado (Pseudoplatystoma spp.) were the species farmed at the largest number. The rate of water renewal was due to the greater availability of natural food in this system. Water renewal was constant in the ponds (1,500 liters per minute). In the semi-intensive system using dug ponds, alevins were stocked and fed during the entire rearing time with natural and exogenous food. The extensive system relied on the natural production of the pond, with stocking density limited by the production of natural food. The little renewal of water made the cultivation tank itself acted as a decantation lake, with the occurrence of oxidation and sedimentation of residual organic matter, consisting of feces, debris and organic fertilizer. Production of reduced effluent volume took place in the extensive system, compared to the cultivation area. In addition, there was high water turbidity, caused by high concentration of planktonic organisms, and low concentrations of dissolved oxygen in the water. Data showed that nine estates of the interviewed fish farmers had critical environmental performance (less than 30.0%). Six estates of fish farmers had bad environmental performance (between 30.0 and 50.0%) (Coefficient of sustentainability = green square x 100 ÷ Total Questions less the yellow squares)

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Uma solução analítica foi desenvolvida, para avaliar sulcos abertos e em declive, com base na teoria de Balanço de Volume de Walker e Skogerboe (1987). Essa metodologia é capaz de obter, matematicamente, a performance de um sistema, dispensando a construção de gráficos que definem os parâmetros de avaliação. A solução matemática é baseada no ajuste de equações ao modelo potencial, no cálculo das áreas sob as curvas definidas no ajuste e na intercessão de curvas, obtendo-se, assim, a performance de sistemas de irrigação por sulcos abertos e em declive. Para validação da metodologia, foi realizado um experimento de campo, na Fazenda Experimental da Universidade Federal do Ceará, situada no município de Pentecoste, pertencente ao Centro de Ciências Agrárias. Os dados de campo foram submetidos à análise pelas duas metodologias. Os resultados mostraram que a metodologia analítica pode ser usada para avaliar a irrigação por sulcos abertos e em declive.

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This paper discusses the main theme the financial implications that Portuguese companies with the implementation and subsequent certification of the Quality System and respective Quality Audits. The literature review shows that companies do not publish financial results on the subject in question, making it necessary to acquire information through a questionnaire. About 126 questionnaires were sent. Our sample is however 32 validados.Pode to complete questionnaires that the top 5 overall benefits or indirect financial benefits for Portuguese companies were, respectively: improving internal organization; improving the company's image; increasing customer satisfaction; continuous improvement in customer service; improving competitive position. In terms of direct financial benefits the 3 main benefits obtained by the companies were: turnover increase; Performance (cost reduction); Increased business productivity. So it is expected to contribute to the knowledge of the impact, notably financial of Quality Management Systems and respective audits in Portuguese companies.

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ABSTRACTIn no-tillage systems, straw coverage on soil surface is the key to success, and the choice of crops for rotation is crucial to achieve the sustainability and quality that conservation agriculture requires. The objective of this study was to evaluate the agronomic performance of the common bean cultivar IAC Formoso sown in succession to three straw mulch systems (corn alone, corn/Urochloa ruziziensisintercrop and U. ruziziensisalone) and topdress nitrogen rates (0; 40; 80; 120 and 160 kg ha-1N), at the four-leaf stage, three years after the implementation of no-tillage. The experiment was arranged in a randomized block split plot design, with three replications. Common bean highest yields were achieved in succession to U. ruziziensisalone and intercropped with corn. The corn/U. ruziziensisintercrop provided both straw and seed production, allowing for quality no-tillage. Topdressed nitrogen influenced the common bean yield when in succession to corn alone, U. ruziziensisalone and corn/U. ruziziensisintercrop in no-tillage.

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Many public organisations have been under great pressure in recent years to increase the efficiency and transparency of outputs, to rationalise the use of public resources, and to increase the quality of service delivery. In this context, public organisations were encouraged to introduce the New Public Management reforms with the goal of improving the efficiency and effectiveness of the performance organisation through a new public management model. This new public management model is based on measurement by outputs and outcomes, a clear definition of responsibilities, the transparency and accountability of governmental activities, and on a greater value for citizens. What type of performance measurement systems are used in police services? Based on the literature, we see that multidimensional models, such as the Balanced Scorecard, are important in many public organisations, like municipalities, universities, and hospitals. Police services are characterised by complex, diverse objectives and stakeholders. Therefore, performance measurement of these public services calls for a specific analysis. Based on a nationwide survey of all police chiefs of the Portuguese police force, we find that employee performance measurement is the main form of measurement. Also, we propose a strategic map for the Portuguese police service.

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Textile and tourism sectors are two important industries in the Portuguese economy. However, its high exposure to both internal and international economic volatility make the companies operating in these economic sectors particularly vulnerable to economic crises, such as the ones which have been impacting Portugal and the European Union. The objective of this paper is to evaluate and understand the impact of size and age on the financial health of textile and tourism companies, measured by economic indices. An empirical based model is proposed. Its implications are derived and tested on a sample of 4061 Portuguese companies from textile and tourism sectors, during the period 2005-2009. The findings suggest that age has a major impact on the risk of failure, rather than size. Whereas the effect of age is generally positive regarding the financial health of the company, the effect of size is less clear and ultimately depends on the age of the company.

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The main purpose of performance appraisal in organizations is, or should be, to improve the engagement, learning process and progress of the employees and to align individual with team and organizational performance. However, performance appraisal can also be interpreted as an instrument of normalization, discipline and surveillance. This study thus aims to explore and discuss the complex schema of intrinsic and extrinsic objectives of performance appraisal system of the Portuguese public organizations (SIADAP - Performance Evaluation Integrated System). We have developed an exploratory and qualitative case study to capture appraisers and appraises perceptions. The data were analyzed in light of foucauldian theories. According to the qualitative data, namely the discourses of the appraisers and their subordinates, the SIADAP is seen as an instrument of control and dominance that aims to introduce political rationalities, limiting the career progression of the employees. Though some key points of Foucault’s perspective were identified, foucauldian framework revealed some limitations to capture all the complexity inherent to performance appraisal. This study opens new perspectives about the SIADAP and can be of major importance as far as political reflection about performance appraisal in public organizations is concerned.

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This paper seeks to investigate the use of performance information by politicians and whether the institutional reforms on performance management (PM) have been operationalized by local politicians. Differences on the policy field and the organizational context have been analyzed. Our goal is contribute to knowledge on PM in the political sphere and understand the different responses of politicians to government change initiatives (mainly coercive pressures). Our findings show that local politicians support the notion that greater attention should be devoted to the use of performance information on the evaluation process. Nevertheless they are very skeptic in relation to effective execution of government reforms. There is an internal culture where agencies are embedded, strongly influenced by the high degree of politicisation among senior managers, that lead politicians to be more concerned about personal opinions and informal performance information rather than to use more sophisticated information (output and outcome measures). The institutional approach helps us to identify political responses to institutional pressures and understand the reasons for a reduced use in the Portuguese context.

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Purpose – this paper has two main purposes: (1)explore if government agencies more oriented to NPM postulates are more willing to use PM practices and to improve their performance; and (2) investigate whether the fit between the use of PM practices and the organizationa performance is dependent upon from the capacity of agencies to adapt its structures to changes introduced by NPM reforms. Design/methodology/approach - this paper is based on the survey method and provides empirical evidence from Portuguese government agencies.Findings (mandatory) - Our findings suggest that government agencies that made structural arrangements under the NPM reforms are more willing to use PM practices and will perform better than other agencies. In addition, this paper show that therelationship between the use of PM practices and the organizational performance is dependent upon from the agencies capacity to adopt new structural arrangements under the NPM reforms.Practical implications – this paper has three main contributions: (1) contribute to knowledge about the relationship between the introduction of NPM changes in the use of PM practices; (2) contribute to clarify whether agencies more oriented to NPM postulates are improving performance; and (3) help to clarify the way the organizations should adapt their structures for to be more effective in the use of PM practices. Originality/value - The quantitative empirical research, based on the unique survey applied to Portuguese government agencies on this field, allow us to add to prior research mainly based on case studies and oriented to local governments (Budding, 2004).

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Purpose/objectives: This paper seeks to investigate whether performance management (PM) framework adopted in Portuguese local government (PLG) fit the Otley’s PM framework (1999). In particularly, the research questions are (1) whether PM framework adopted in PLG (SIADAP) fit the Otley´s framework, and (2) how local politicians (aldermen) see the operation of performance management systems (PMS) in PLG (focusing on the goal-setting process and incentive and reward structures). Theoretical positioning/contributions: With this paper we intend to contribute to literature on how the Otley’s PM framework can guide empirical research about the operation of PMS. In particular, the paper contributes to understand the fit between PMS implemented in PLG and the Otley´s PM framework. The analysis of this fit can be a good contribution to understand if PMS are used in PLG as a management tool or as a strategic response to external pressures (based on interviews conducted to aldermen). We believe that the Otley’s PM framework, as well as the extended PM framework presented by Ferreira and Otley (2009), can provide a useful research tool to understand the operation of PMS in PLG. Research method: The first research question is the central issue in this paper and is analyzed based on the main reforms introduced by Portuguese government on PM of public organizations (like municipalities). On the other hand, interviews conducted on three larger Portuguese municipalities (Oporto, Braga, and Matosinhos) show how aldermen see the operation of PMS in PLG, highlighting the goals setting process with targets associated and the existing of incentive and reward structures linked with performance. Findings: Generally we find that formal and regulated PM frameworks in PLG fit the main issues of the Otley’s PM framework. However, regarding the aldermen perceptions about PMS in practice we find a gap between theory and practice, especially regarding difficulties associated with the lack of a culture of goals and targets setting and the lack of incentive and reward structures linked with performance.

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ABSTRACT The humified organic matter presents bioactivity similar to the auxinic effect. As bokashi is produced by a special process of humification, information is needed about the bioactive potential of its humic acids. The objective of this work was studying the initial performance of corn-indicator plants in response to the application of different concentrations of humic acids isolated from bokashi. The corn seeds were treated for 16 hours with solutions containing 0, 10, 20, 30, 40 and 80 mmol L-1 of C in the form of humic acids. Then, the seeds were planted in pots of 1 dm3 containing corrected and fertilized soil, in greenhouse. Growth characteristics of shoot and root systems were evaluated. The results showed that the humic acids extracted from bokashi had positive effects on the initial performance of corn.

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This paper studies the use of results oriented performance information (outputs and outcomes) by local elected politicians (aldermen) in top managers’ performance evaluation. The main goal is to understand the top managers’ performance evaluation process conducted by Portuguese aldermen and to identify the dominant evaluation style. In line with Bogt (2001), an exploratory field research was developed in three large municipalities: Porto, Braga and Matosinhos. We intend to answer the following research questions: to what extent are local politicians (aldermen) 1 using results information (about outputs and outcomes) to evaluate top managers’ performance? Do aldermen give any importance to quantitative output information and report them on current planning and control documents? Will the output performance information be used on performance evaluation in a different way concerning policy field (task orientation)? Based on the Hopwood evaluation styles (adapted from the private to the public sector by Bogt, 2001), we have found that the performance evaluation process of top managers is more featured by the ‘operations-conscious styles’ (or ‘implicit style’). Portuguese aldermen recognize the importance to quantify outputs and outcomes, but these days they focus on the information about activities and the realized operations when they evaluate performance. We haven´t found significant differences between different tasks (some exceptions for culture and environment areas). However, the municipality of Matosinhos paid more attention on quantitative performance information. This finding is reinforced by the quality of quantitative data on outputs reported on its management report. Generally speaking, aldermen are aware that more attention should be paid to quantitative information about results and performance, taking into account recent reforms introduced in Portuguese municipalities (PLG) on this field, but the ‘implicit’ style is dominant.