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The Value of Farmland and Its Determinants: The Current State of the Art
2022-10-26 - Tavares, Vasco; Tavares, Fernando Oliveira; Santos, Eulália
This article aims to perform a literature review on the topic of farmland valuation, covering the determinants of farmland value and the models that are used to price land. To do so, recent literature on the topic was combined with classical and well-known papers. All the factors considered in these papers to explain farmland prices and/or to model them were retrieved, presented, and compared. Then, the main models proposed in the literature are presented and their suitability and goals are explained. This study can help academics as it gives an overview of the current state of the art, summarizes the main factors proposed by researchers to explain farmland prices, and sheds light on new lines of research. Besides that, it is also relevant for policymakers because farmland valuation and its use have implications on society and on urban planning, which is a hot topic under discussion.
Literacia financeira: Um estudo para Portugal
2022-01-01 - Tavares, Fernando Oliveira; Almeida, Luís Gomes; Soares, Vasco Salazar
Este trabalho tem como objetivo estudar o nível de literacia financeira para a população portuguesa com mais de 18 anos. É utilizado o método quantitativo com recurso a um inquérito por questionário, a fim de analisar atitudes, intenções e comportamentos a nível da literacia financeira, tendo-se obtido 839 inquéritos. Podemos observar que as pessoas pagam as contas dentro dos prazos e mantêm a sua vida financeira sob controlo. De um modo geral os indivíduos preferem pagar a pronto do que a prestações e não conhecem o funcionamento do cartão de crédito, apresentando ainda, dificuldades a lidar com o risco. Pode-se concluir do estudo, que os indivíduos não confiam na viabilidade do Sistema de Segurança Social para garante da sua reforma, assim como também não confiam no sistema financeiro português.
Validation of an Information Asymmetry Scale in the Portuguese Real Estate Market
2022-01-13 - Tavares, Fernando Oliveira; Santos, Eulália
Purpose – The motivation to study the information asymmetry in the real estate market comes from the fact that this market is far from being efficient and perfect, and buying a house is, for most families, the biggest deal of their lives. This paper aims to validate a scale that evaluates the information asymmetry in the Portuguese real estate market.
Theoretical framework – During the sales negotiation process, estate agents exhibit the positive aspects of the house, as well as its amenities and qualities, and camouflage the least positive aspects of the deal. Finding both the positive and the negative aspects is crucial.
Design/methodology/approach – To collect the sample, an instrument based on a questionnaire survey was used, which analyses the information asymmetry in the real estate market and the sociodemographic profile of estate agents in Portugal. The sample is composed of 350 commercial delegates from the three biggest real estate mediation companies in the Portuguese market.
Findings – The results show that the scale for the information asymmetry in the Portuguese real estate market is composed of six factors, which present adequate levels of validity and reliability: negative externalities, possibilities of making a deal, housing quality, service areas, proximity to businesses, and positive externalities.
Practical & social implications of research – This study is expected to contribute to improving the scientific knowledge on the real estate market, and to enhancing the information transmitted by estate agents to their future clients.
Originality/value – In Portugal, there is no study with such depth about this topic of research. The validation of the information asymmetry scale in the Portuguese real estate market represents a breakthrough in the knowledge in this area.