Pacheco, Luís Miguel
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Pacheco
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Luís Miguel
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Luís Miguel Pacheco
Biography
Doutorado em Economia pela Universidade Técnica de Lisboa, mestre em Economia Monetária e Financeira e licenciado em Economia. Docente universitário desde 1994, leccionando unidades curriculares em curso de licenciatura, mestrados e doutoramento na área económica e financeira. Membro integrado da unidade de investigação REMIT. Desenvolve atividades de investigação na área financeira e na área do turismo, com publicações em diversas revistas científicas internacionais.
Afiliação:
REMIT (Research on Economics, Management and Information Technologies) e DEG (Departamento de Economia e Gestão)
BF16-0EF2-107B
55945343700
E-5193-2010Research Projects
Organizational Units
REMIT – Research on Economics, Management and Information Technologies
Centro de investigação que que tem como objetivo principal produzir e disseminar conhecimento teórico e aplicado que possibilite uma maior compreensão das dinâmicas e tendências económicas, empresariais, territoriais e tecnológicas do mundo contemporâneo e dos seus efeitos socioeconómicos. O REMIT adota uma perspetiva multidisciplinar que integra vários domínios científicos: Economia e Gestão; Ciências e Tecnologia; Turismo, Património e Cultura.
Founded in 2017, REMIT – Research on Economics, Management and Information Technologies is a research unit of Portucalense University. Based on a multidisciplinary and interdisciplinary perspective it aims at responding to social challenges through a holistic approach involving a wide range of scientific fields such as Economics, Management, Science, Technology, Tourism, Heritage and Culture.
Grounded on the production of advanced scientific knowledge, REMIT has a special focus on its application to the resolution of real issues and challenges, having as strategic orientations:
- the understanding of local, national and international environment;
- the development of activities oriented to professional practice, namely in the business world.
116 results
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Publication Open Access Fatores determinantes na escolha de apartamentos: estudo empírico em Portugal2015-07-01 - Tavares, Fernando Oliveira; Pacheco, Luís MiguelO presente artigo investiga os fatores determinantes na procura de apartamentos, evidenciando diferenças estatisticamente significativas na procura para uma amostra de 427 indivíduos. Verificam-se diferenças nas preferências conforme o género, idade, nível de rendimento e habilitações académicas. A análise fatorial revela quatro fatores determinantes na procura de apartamentos: externalidades negativas, externalidades positivas, localização de negócios no rés-do-chão, proximidade a serviços públicos. No essencial as pessoas procuram afastar-se de externalidades negativas e desejam ter uma habitação próxima de externalidades positivas. Os promotores imobiliários devem ter presente estas preferências nos seus empreendimentos, a fim de irem de encontro às preferências dos clientes.Publication Restricted Access Firm certification and export performance: the case of the “SME Leader” label2023-10-20 - Pacheco, Luís MiguelPurpose – Third-party certifications promote firms’ high standards and enhance their legitimacy and reputation, potentially positively impacting their performance, namely on exports. Design/methodology/approach –This paper studies the differences in firms’ export performance between firms with and without the “SME Leader” label, a Portuguese firm-specific label. This study data set comprises data for 5.489 SMEs, for 2014–2020, where 2.950 firms obtained their certification during the period and 2.539 are non-certified control firms. The methodology adopted circumvents the traditional endogeneity problems in this type of study. Findings – The results indicate that the “SME Leader” label does not directly improves a firm’s export performance. Additionally, industry characteristics seem relevant for the relationship between SMEs’ certification and their levels of internationalization. Originality/value – Since the study sample includes firms from all industrial sectors, this study results apply to various organizations.Publication Open Access SMEs probability of default: the case of the hospitality sector2015 - Pacheco, Luís MiguelIn this paper we analyze a set of financial ratios from hospitality sector SMEs in order to ascertain which factors determine a greater probability of default. We choose the hospitality sector due to its importance in the Portuguese economy and has been particularly affected by the recent economic downturn and austerity measures and because, to the best of our knowledge, this sector has never been the object of such a study. Usually the literature seeks to find a set of variables which are significant in the estimation of default and multiple discriminant analysis and logit methodology are the main avenues of research on this area. Our data was collected from SABI and we followed logit methodology. Our results recommend that in ascertaining the creditworthiness of borrowers only debt and equity variables appear to be relevant to explaining failure, and overreliance on profit as an indication of good financial performance should be limited. The main reason for our rather poor results could be from problems with the data quality, possibly since the accounts published by firms aren’t reliable and tend to present negative results.Publication Open Access O rendimento do imobiliário habitacional no Concelho do Porto2017-03 - Almeida, Luís A. Gomes; Tavares, Fernando Oliveira; Pacheco, Luís MiguelEste artigo tem como objetivo estudar a relação entre o valor da renda, a localização e a yield subjacente, no mercado imobiliário residencial. A fim de concretizar o objetivo, foram recolhidos dados de quatro anos de rendas de apartamentos T0, T1 e T2 para o concelho do Porto. Efetuou-se a avaliação dos apartamentos pelo método do rendimento e, através do modelo da regressão linear múltipla, verificou-se a aderência da utilização desta metodologia às freguesias daquele concelho. Não existem estudos sobre a utilização do modelo do rendimento na avaliação imobiliária em Portugal, sendo este por isso, um estudo pioneiro nesta área. Verificou-se que os clusters das rendas e das yields são distintos. Conclui-se que existe uma sobrevalorização pelo mercado nas freguesias onde as rendas, sendo de valor elevado, apresentam yields baixas. Através da regressão linear múltipla ficou demonstrado que o valor de mercado é explicado pelo rendimento da propriedade, pela yield apresentada e pela densidade populacional da freguesia onde está inserido.Publication Open Access Trust and power as determinants of tax compliance across 44 nations2019-08 - Batrancea, Larissa; Kirchler, Erich; Pacheco, Luís MiguelThe slippery slope framework of tax compliance emphasizes the importance of trust in authorities as a substantial determinant of tax compliance alongside traditional enforcement tools like audits and fines. Using data from an experimental scenario study in 44 nations from five continents (N = 14,509), we find that trust in authorities and power of authorities, as defined in the slippery slope framework, increase tax compliance intentions and mitigate intended tax evasion across societies that differ in economic, sociodemographic, political, and cultural backgrounds. We also show that trust and power foster compliance through different channels: trusted authorities (those perceived as benevolent and enhancing the common good) register the highest voluntary compliance, while powerful authorities (those perceived as effectively controlling evasion) register the highest enforced compliance. In contrast to some previous studies, the results suggest that trust and power are not fully complementary, as indicated by a negative interaction effect. Despite some between-country variations, trust and power are identified as important determinants of tax compliance across all nations. These findings have clear implications for authorities across the globe that need to choose best practices for tax collection.Publication Open Access História económico-social de Angola: do período pré-colonial à independência2018-06 - Costa, Paulo; Tavares, Fernando Oliveira; Pacheco, Luís MiguelO presente artigo procura descrever os fenómenos económicos e sociais ocorridos ao longo da história de Angola, desde o período pré-colonial à independência do país em 1975. A sistematização e atualização dos estudos relativos ao tema da História Económica e Social de Angola é algo de fundamental, pois só assim se conseguirá esclarecer aspectos ainda confusos, pouco compreendidos e debatidos, muitas vezes por razões políticas, aspectos esses que são determinantes para a compreensão da história económica contemporânea do país. É apresentada uma divisão em diferentes fases do período compreendido entre os séculos XV e XX, período esse caracterizado por vários ciclos económicos mas claramente marcado pela exploração esclavagista. Dado o número limitado de estudos similares, este artigo poderá constituir um ponto de partida para o estudo da história económica angolana e assim estimular o debate sobre essa realidade.Publication Open Access Internationalization effects on performance: the case of the Portuguese textile and apparel SMEs2019-05 - Pacheco, Luís MiguelThe objective of this paper is to empirically examine the relationship between the firms’ degree of internationalization and their financial performance. The literature about performance determinants is abundant however the relation between performance and internationalization in the context of Small and Medium Enterprises (SMEs) from a small and open economy is much less studied. This paper is focused on the Portuguese textile and wearing firms due to their importance for the economy. It is used an unbalanced panel data of 638 firms for the period from 2010 to 2016 and applied a random effects model. The results indicate that internationalization promotes firm performance, in particular when exports are directed to closer markets and conducted by small firms. Also, the presence of a non-linear relationship between internationalization and performance calls for managers’ attention to its dysfunctional consequences for firm performance, especially at intermediate levels of internationalization.Publication Open Access Quando a demografia encontra as finanças: do risco de longevidade aos instrumentos do Life Market2022-12 - Quelhas, Ana Paula; Pacheco, Luís MiguelO objetivo do artigo é o de apresentar e discutir as caraterísticas dos denominados instrumentos financeiros de longevidade, ou instrumentos do life market, nomeadamente das obrigações de longevidade e dos derivados de longevidade. A criação de tais instrumentos deveu-se à amplitude das transformações demográficas e à necessidade de cobertura do risco de longevidade por parte das entidades gestoras de produtos de previdência. O artigo sustenta-se na apreciação crítica e na sistematização dos contributos de artigos científicos, bem como na consulta de informação estatística produzida por organismos nacionais e internacionais. Para além dos fatores determinantes das sucessivas transições demográficas, apresentam-se as tendências que se perspetivam neste domínio. Mas, sobretudo, o artigo evidencia as caraterísticas dos instrumentos financeiros de longevidade, bem como sublinha as dificuldades que se colocam à sua adoção enquanto mecanismo de cobertura de risco, entre as quais se colocam a determinação do preço e a fraca adesão que podem encontrar junto dos investidores.Publication Open Access Performance vs. family ownership and management: The case of Portuguese wine firms2019-09-30 - Pacheco, Luís MiguelObjective: The objective of this article is to empirically examine the relationship between firms’ ownership and control structure and their financial performance. The literature about performance determinants is abundant, however, the relation between performance and ownership and control structure in the context of family firms (FF) is much less studied. Research Design & Methods: The article is focused on Portuguese wine firms due to their increasing importance in the Portuguese economy. A Unbalanced panel data of 117 firms for the period from 2011 to 2016 were used and a random effects model was applied. Findings: The degree of family involvement shows a U-shaped relationship with performance, meaning that those firms where the family does not hold the majority in the board should be open to receive external managers with greater knowledge and experience and increase their internal competencies in order to enhance performance. However, the same is not true when the family has already a majority position in the board. Implications & Recommendations: Firms willing to attain better performance should have boards either primarily composed of external managers, potentially more independent or, preferably, mostly composed of family members, with their interests fully aligned. One implication for FF owners, when the family does not have the majority in the board, is the need to reduce family presence in it, opening the board to non-family members, albeit that decision could ultimately depend on the family members’ competencies. Contribution & Value Added: In the light of the agency and stewardship theories, this article extends the literature providing an application to a less studied sector and country.Publication Open Access Drivers of and barriers to the SME internationalisation process in a small open economy2020-11 - Brochado, Ana; Maldonado, Isabel; Lobo, Carla Azevedo; Pacheco, Luís MiguelSmall and medium-sized enterprises (SMEs) have actively increased their participation in international markets. This research's primary objective was to identify, based on 11 case studies, the main barriers to and drivers of the SME internationalisation process in a small open economy. Content analysis of in-depth interviews used Leximancer software to identify 7 themes that describe both internal and external barriers and 12 themes that characterise drivers, which were classified into five groups: SME human capital, technology, institutional support, networks and other drivers.