Designing competitive international compensation programs

Over the past 25 years, expatriate managers have voiced increased disenchantment with their compensation packages whíle abroad. This paper takes a prescriptive approach, outlíning severa I elements of a successful human resources strategy and stressing key ingredients of effective international compensation programs. Particular ettention is given to the adherence of cultural values and distrlbutive justice when working across nations and cultures.

An approach to absorptive capacity based on the Portuguese textile industry

The main purpose of this research is to identify the hidden knowledge and learning mechanisms in the organization in order to disclosure the tacit knowledge and transform it into explicit knowledge. Most firms usually tend to duplicate their efforts acquiring extra knowledge and new learning skills while forgetting to exploit the existing ones thus wasting one life time resources that could be applied to increase added value within the firm overall competitive advantage. This unique value in the shape of creation, acquisition, transformation and application of learning and knowledge is not disseminated throughout the individual, group and, ultimately, the company itself. This work is based on three variables that explain the behaviour of learning as the process of construction and acquisition of knowledge, namely internal social capital, technology and external social capital, which include the main attributes of learning and knowledge that help us to capture the essence of this symbiosis. Absorptive Capacity provides the right tool to explore this uncertainty within the firm it is possible to achieve the perfect match between learning skills and knowledge needed to support the overall strategy of the firm. This study has taken in to account a sample of the Portuguese textile industry and it is based on a multisectorial analysis that makes it possible a crossfunctional analysis to check on the validity of results in order to better understand and capture the dynamics of organizational behavior.

An approach to absorptive capacity based on the Portuguese textile industry(Final version)

The main purpose of this research is to identify the hidden knowledge and learning mechanisms in the organization in order to disclosure the tacit knowledge and transform it into explicit knowledge. Most firms usually tend to duplicate their efforts acquiring extra knowledge and new learning skills while forgetting to exploit the existing ones thus wasting one life time resources that could be applied to increase added value within the firm overall competitive advantage. This unique value in the shape of creation, acquisition, transformation and application of learning and knowledge is not disseminated throughout the individual, group and, ultimately, the company itself. This work is based on three variables that explain the behaviour of learning as the process of construction and acquisition of knowledge, namely internal social capital, technology and external social capital, which include the main attributes of learning and knowledge that help us to capture the essence of this symbiosis. Absorptive Capacity provides the right tool to explore this uncertainty within the firm it is possible to achieve the perfect match between learning skills and knowledge needed to support the overall strategy of the firm. This study has taken in to account a sample of the Portuguese textile industry and it is based on a multisectorial analysis that makes it possible a crossfunctional analysis to check on the validity of results in order to better understand and capture the dynamics of organizational behavior.

Unit Commitment in a Competitive and Emission Constrained Environment

This paper is on the unit commitment problem, considering not only the economic perspective, but also the environmental perspective. We propose a bi-objective approach to handle the problem with conflicting profit and emission objectives. Numerical results based on the standard IEEE 30-bus test system illustrate the proficiency of the proposed approach.

The impact of family control on firm's return

Family firm is a field of growing interest. The aim of this article is to understand whether CEOs identity impacts family firm’s stock returns. From a sample of Portuguese and Spanish family firms findings show that who manages the firms result in significantly different risk exposure. Moreover, we find that the abnormal return found by Fahlenbrach (2009) to founder-controlled firms disappear when we use valueweighted portfolios and include two new factors: market aggregate illiquidity and debt intensity to the four-factor Carhart model. Finally, our results explain why the majority of family firm is controlled by its founder.

Virtual communities of practice: investigating motivations and constraints in the processes of knowledge creation and transfer

With accelerated market volatility, faster response times and increased globalization, business environments are going through a major transformation and firms have intensified their search for strategies which can give them competitive advantage. This requires that companies continuously innovate, to think of new ideas that can be transformed or implemented as products, processes or services, generating value for the firm. Innovative solutions and processes are usually developed by a group of people, working together. A grouping of people that share and create new knowledge can be considered as a Community of Practice (CoP). CoP’s are places which provide a sound basis for organizational learning and encourage knowledge creation and acquisition. Virtual Communities of Practice (VCoP's) can perform a central role in promoting communication and collaboration between members who are dispersed in both time and space. Nevertheless, it is known that not all CoP's and VCoP's share the same levels of performance or produce the same results. This means that there are factors that enable or constrain the process of knowledge creation. With this in mind, we developed a case study in order to identify both the motivations and the constraints that members of an organization experience when taking part in the knowledge creating processes of VCoP's. Results show that organizational culture and professional and personal development play an important role in these processes. No interviewee referred to direct financial rewards as a motivation factor for participation in VCoPs. Most identified the difficulty in aligning objectives established by the management with justification for the time spent in the VCoP. The interviewees also said that technology is not a constraint.

Do economic and financial firm's situation affect the quality if financial reports?

We investigate whether firms’ economic and financial situation influence the Quality of their Financial Reports (FRQ). FRQ is fundamental for investors and it affects the international capital movements [Bradshaw et al. (2004)] and Gelos and Wei (2005)]. Following Schipper and Vicent (2003) we use two issues to access earnings quality: abnormal accruals and earnings persistence. For seventeen European countries, we find evidence that the economic performance affects FRQ. Big firms and those with high current earnings exhibit better financial information. These results are robust since they don’t depend on FRQ proxy and we have the same evidence when we estimate regression with economical and financial factors separately or together. About financial situation, it seems not to affect FRQ. However, in high leveraged firms, the capital structure becomes determinant.

Short-term electricity prices forecasting in a competitive market by a hybrid PSO-ANFIS approach

In this paper, a novel hybrid approach is proposed for electricity prices forecasting in a competitive market, considering a time horizon of 1 week. The proposed approach is based on the combination of particle swarm optimization and adaptive-network based fuzzy inference system. Results from a case study based on the electricity market of mainland Spain are presented. A thorough comparison is carried out, taking into account the results of previous publications, to demonstrate its effectiveness regarding forecasting accuracy and computation time. Finally, conclusions are duly drawn. (C) 2012 Elsevier Ltd. All rights reserved.

Learning business strategies for competitive electronic marketplaces

This paper presents a Multi-Agent Market simulator designed for developing new agent market strategies based on a complete understanding of buyer and seller behaviors, preference models and pricing algorithms, considering user risk preferences and game theory for scenario analysis. This tool studies negotiations based on different market mechanisms and, time and behavior dependent strategies. The results of the negotiations between agents are analyzed by data mining algorithms in order to extract rules that give agents feedback to improve their strategies. The system also includes agents that are capable of improving their performance with their own experience, by adapting to the market conditions, and capable of considering other agent reactions.

A congestion management and transmission price simulator for competitive electricity markets

In a liberalized electricity market, the Transmission System Operator (TSO) plays a crucial role in power system operation. Among many other tasks, TSO detects congestion situations and allocates the payments of electricity transmission. This paper presents a software tool for congestion management and transmission price determination in electricity markets. The congestion management is based on a reformulated Optimal Power Flow (OPF), whose main goal is to obtain a feasible solution for the re-dispatch minimizing the changes in the dispatch proposed by the market operator. The transmission price computation considers the physical impact caused by the market agents in the transmission network. The final tariff includes existing system costs and also costs due to the initial congestion situation and losses costs. The paper includes a case study for the IEEE 30 bus power system.

VPPs information needs for effective operation in competitive electricity markets

The large increase of renewable energy sources and Distributed Generation (DG) of electricity gives place to the Virtual Power Producer (VPP) concept. VPPs may turn electricity generation by renewable sources valuable in electricity markets. Information availability and adequate decision-support tools are crucial for achieving VPPs’ goals. This involves information concerning associated producers and market operation. This paper presents ViProd, a simulation tool that allows simulating VPPs operation, focusing mainly in the information requirements for adequate decision making.

Short-term electricity prices forecasting in a competitive market by a hybrid intelligent approach

In this paper, a hybrid intelligent approach is proposed for short-term electricity prices forecasting in a competitive market. The proposed approach is based on the wavelet transform and a hybrid of neural networks and fuzzy logic. Results from a case study based on the electricity market of mainland Spain are presented. A thorough comparison is carried out, taking into account the results of previous publications. Conclusions are duly drawn. (C) 2010 Elsevier Ltd. All rights reserved.