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.
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Publication Restricted Access The impact of gender on financial performance: evidence for Portuguese SMEs2023 - Pacheco, Luís MiguelThe relationship between gender and profitability in the context of small and medium enterprises (SMEs) is a less studied topic in the broader context of performance determinants. Thus, the objective of this paper is to examine whether women’s leadership of the firms’ board of directors and senior management teams enhances financial performance. Contributing to fill this research gap and based on the agency and stakeholder theories, it is used a balanced panel data of 4,806 Portuguese SMEs for the period from 2010 to 2019. The results from the random-effects model evidence the absence of a broad significant relationship, albeit with some slight evidence of a negative relation, moderated by firm age and present in some specific sectors of activity. Given the SMEs importance in the majority of countries, the results and implications of this paper can be generalised to other economies, albeit country specific cultural and legal issues should be taken in consideration.Publication Open Access Message from the guest editors2022-12 - Azevedo, Mónica; Pacheco, Luís MiguelThe last couple of decades have witnessed the growing interest of the academic literature in the conciliation of firm financial performance and growth with social and environmental concerns. Firms face increasing pressure from both shareholders and stakeholders towards adopting sustainable practices. Regulatory impositions, potential competitive advantages, legitimacy and ethical concerns all point to the integration of social, environmental, diversity and community dimensions into firms’ daily life. At a time of huge changes and uncertainties in the internal and external factors that determine firm performance, sustainable development challenges must be at the forefront of business decisions. Nevertheless, the integration of those dimensions surely has effects on firms’ operating costs, margins and market positioning. The existent literature does not provide us with an unambiguous answer regarding the sign and significance of the relationship between variables proxying sustainability and different market- or accounting-based performance measures. Therefore, it continues to be relevant to study the relationship between sustainability and financial performance. The aim of this Special Issue is to present an updated set of studies, theoretical ideas and methodological developments dealing with the sustainability–financial performance nexus. This Special Issue will include, but is not limited to, the following topics: i) implications of adopting sustainable management practices to financial performance; ii) presentation of good practices in sustainable management that enhance financial performance; iii) implications of different contexts, namely in terms of corporate governance, market structure, firm dimension and geographical, cultural and gender aspects or others; and iv) explore potential non-linear, bidirectional and moderating effects in the relationship between sustainability and financial performance. [...]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 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 Foreign Ownership and Performance: The case of Portuguese industrial firms2020 - Pacheco, Luís MiguelThe objective of this paper is to empirically examine the relationship between the firms' ownership and control structure, in particular the presence of foreign capital, and its financial performance. [...]Publication Open Access Internationalization effects on financial performance: The case of Portuguese industrial SMEs2019-11 - 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 internationalization and profitability in the context of Small and Medium Enterprises (SMEs) is much less studied. It is used an unbalanced panel data of 4.133 Portuguese industrial SMEs for the period from 2010 to 2016 and applied a random effects model. The results indicate that internationalization, measured as export intensity/diversity/distance, influences firm profitability, in particular when exports are directed to distant markets and conducted by small firms. Also, the presence of a non-linear relationship between internationalization and profitability calls for managers’ attention to its dysfunctional consequences for firm performance, especially at intermediate levels of internationalization. Due to SMEs relevance in the majority of the economies, our results and its implications can be generalized to other countries.Publication Open Access The impact of gender on financial performance: evidence for portuguese SMEs2021-07 - Maldonado, Isabel; Pacheco, Luís Miguel; Lobo, Carla AzevedoThe relationship between gender and profitability in the context of Small and Medium Enterprises (SMEs) is a less studied topic in the broader context of performance determinants. Thus, the objective of this paper is to examine whether women’s leadership of the firms’ board of directors and senior management teams enhances financial performance. Contributing to fill this research gap and based on the agency and stakeholder theories, it is used a balanced panel data of 4.806 Portuguese SMEs for the period from 2010 to 2019. The results from the random-effects model evidence the absence of a broad significant relationship, albeit with some slight evidence of a negative relation, moderated by firm age and present in some specific sectors of activity. Given the SMEs importance in the majority of countries, the results and implications of this paper can be generalized to other economies.Publication Open Access Rentabilidade vs. Propriedade e Gestão Familiar: o caso das empresas portuguesas do sector do vinho2018-09 - Pacheco, Luís MiguelThe objective of this paper is to empirically examine the relationship between firms’ ownership and control structure and their financial performance. The relation between performance and ownership and control structure in the context of family firms (FF) is a less studied topic. The paper is focused on the Portuguese wine firms due to their increasing importance in the Portuguese economy and in the promotion of the country’s exports and image abroad. It is used an unbalanced panel data of 117 firms for the period from 2011 to 2016 and applied a random effects model. 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. At the light of the agency and stewardship theories, this paper extends the literature performing an application to a less studied sector and country.