RCAAP Repository

Nowadays, companies’ priorities are focused on the relationships that they shall keep with their clients. Creating and maintaining long-term relationships with clients is one of companies’ biggest concerns.It is based on this context that many companies are already using CRM (Customer Relationship Management) tools to store, manage and organize their customers’ contacts throughout web-based softwares which support this kind of actions. Besides social networks’ websites are potential channels and assume a growing and prevailing part on relationships between companies and costumers.This investigation paper assesses the level of use and the impact of social networks on customers’ relationship management. Within this framework, an empirical study based on quiz enquiry has been made to 184 companies in of Aveiro’s district.Results indicate that companies are conscious of this new reality of social networks as a drive to spread and to communicate, but on the other hand they do not visualize them as a tool to grow and manage client’s relationship.

Small and medium-sized enterprises (SME’s) are crucial to wealth and employment creation in every economy. However, they have not available the same financial resources or the access to financial sources as the big companies. That is the reason why the banking relationship is very important since banks have been their most important financial provider and, certainly, their main financial information user. Nevertheless, little is known about banking and SME relationship, namely in the aftermath of the Basel II Agreement and the adoption of international accounting standards. Getting this knowledge allows market regulators to develop the necessary policies that incentives credit to the economy and assures the creditors interests. Therefore, this study aims to characterize banking relationship with SME’s in Portugal. To achieve this aim a postal questionnaire was conducted, through February to April 2007 and applied to all financial institutions operating in Portugal that have business relation with SME’s. The response rate was 34,9%. The main conclusions are that there is heterogeneity in defining what a SME is, they have different credit segmentation typology and SME’s financial statements information is validated as it is audited. Besides, banks do not expect any change of banking relationship with SME´s due to international accounting standards.

The empirical evidence concerning the analysis of the market reaction to dividend change announcements is not consensual. Thus, we intend to test whether this kind of news has a significant impact on the respective share prices, as well as in its future earnings, considering three European countries. Additionally, we analyzed the extent to which some specific variables are crucial for companies to pay dividends.Globally, we found no evidence that dividend announcements affect the shares price, at least significantly. Regarding the relationship between the dividend change announcements and the firms’ future performance, measured by the earnings changes, we find evidence of this effect for only one of the countries analyzed.Finally, we found that there are some specific variables influencing the payout ratio, such as net income, return on equity and debt level.

This dissertation examines the impact of the first time adoption of Portuguese Accounting Standardization System (SNC – Sistema de Normalização Contabilística) in terms of the accounting treatments for impairment losses. It tries to understand if SNC reflects less conservative accounting practices than those required by the previous accounting frame of reference, Portuguese Accounting Plan (POC - Plano Oficial de Contabilidade), and examines the potential effects of the determinants that explain the accounting differences found in the recognition of impairment losses during the transition to SNC.The main results indicate that there are significant differences in the total assets and equity amounts presented in POC and SNC during the transition date, but there are no significant differences in the income before tax and impairment losses amounts. Regarding the degree of conservatism underlying accountancy practices under both standards, findings indicate that the adoption of SNC has leads to less conservative practices. Companies with greater profitability have shown fewer divergences in the treatment of impairment losses during the transition period to SNC.

Local authorities are currently facing the pressing need to improve efficiency and effectiveness. The adoption of a Cost Accounting System is a major initiative, aimed at improving the management of municipal resources, according to, moreover, the legal framework in force.The implementation project of a cost accounting system for the Municipality of Vagos intends to describe the main difficulties that may be found in the implementation of cost accounting in a municipality, and to propose solutions in order to solve those problems. The methodology consists, initially, in a literature review on cost accounting in local government and then in presenting a proposal for a phased implementation of CA in the Municipality of Vagos.

In the new technologies era in which we live is marked by the mass of online information. Increasingly there are a larger number of individuals using online platforms daily, interacting knowledge and content sharing with other users. Web 2.0 has revolutionized the way to get information, share knowledge and experiences. Brands play an essential role in our daily lives, not only in terms of differentiation, as well as the identification of products / services. Thus it is necessary to analyze the impact that they impose on digital users. The platform, on which this study focuses, SAPO Campus, combines the concepts of brand awareness, Web 2.0 and learning in institution of University of Aveiro. The research aims to evaluate the degree of recognition of the SAPO Campus platform with the academic community. There were identified three user profiles in order to understand the degree of notoriety. The results collected will enable the adoption of assertive communication strategies to the public in the study.

This thesis focuses on the importance of financial language in everyday life of citizens dealing with financial institutions in matters of personal and practical interest. Based on this, the general objective of the present work is the demonstration of how the theoretical concepts of financial calculation are related to the information presented in the simulators available on the internet pages of financial products offered by different banks. In this work, we are taking an explanatory component (we intend to describe a situation and augment the usable knowledge for future situations), an evaluative component (we intend to analyze a situation) and a development component (we intend to use the knowledge about a situation to see if the same is implemented in accordance with the expectations of the various partners involved). Stimulated by the ideas presented, some research issues have emerged as relevant. So we seek to understand: if one can demystify the term "financial calculation" and transpose to everyday life from the manuals, expanding from tools that help to solve specific problems in the relationship between financial institutions and their customers; and whether the amount of public information provided by different financial institutions is clear in how it presents itself to the consumer. As case studies analyzed, we cover the following financial products: new family savings plan, retirement savings, guaranteed capital and supplementary savings plan, involving three banks – Banco Espírito Santo (BES), Portuguese Bank Investments (BPI) and Montepio.With the current work we believe possible to identify three fundamental contributions: the justification of the enormous use of financial calculation concepts in recurrent situations in our society; the possibility of implementing the basics of financial calculation from manuals to everyday life providing the same tools to help solving mundane problems; and the evidence that, despite the fact that some financial information available is not as accurate as the theoretical concepts underlying the financial calculation, we could find examples of clear public information available to the consumer.

O nº4 da série IV da Revista Estudos encerra o ano de 2012 continuando a apostar convictamente na seleção de artigos que, ao aplicarem uma diversidade de enfoques, os da economia, da gestão e da contabilidade, enriquecem a observação e análise do sistema económico e financeiro e facilitam o entendimento da sua complexidade. (...)

The non-profit organizations, in Portugal and Spain, used for many years the accounting standards of the profit entities to prepare and elaborate the financial statements. Nearly since the last decade of the twentieth century, some accounting plans for specific sectors were created, adapting the ones applied to profit entities. The second decade of the current century is marked by the creation and implementation of the accounting standards for the Nonprofit Sector Entities. This paper analyzes the evolution of accounting standards for these entities, over time, in the Iberian Peninsula.

This study aims to conduct a survey on the theme of Organizational Justice and the evolution of their publications over the last 10 years (2001 - 2011), in Brazil, highlighting its relevance in the study of human behavior in organizations. For this, a survey was conducted bibliometric to check the amount of national publications through research in the annals of events (ANPAD and SemeAd) seeking to identify major themes, authors, methodology, sources of title, year of publication, etc.. The research showed that interest in Organizational Justice, in the last decade (2001-2011), is very limited in the number of articles in national events analyzed, cannot be considered a hot topic in national events (m = 1.5). Regarding the theme of Organizational Justice, was not found consensus among researchers about the types and amount of dimensions used for the analysis of the organizational environment. The issue facing the management studies is related to such matters as organizational commitment, job satisfaction, worker health, burnout and consumer behavior more strongly. Thus, the Organizational Justice appears with great respect to matters of organizational behavior, but in Brazil has not attracted much interest from researchers, generating a restricted number of publications on the subject.

This article investigates the intangible assets and its measurement from the application of fair value and the impairment test. Initially, we approached the concept of active, in particular intangible asset, then leaving for the conceptualization and definition of fair value impairment test. After these presentations is made a proposal to measure the economic value of intangible assets from the fair value and the impairment test, following the presentation of a proposal of measurement model of these assets. Throughout the work are analyzed briefly the main legal provisions on fair value and impairment test, presented by the IASB (International Accounting Standards Board) by FASB (Financial Accounting Standards Board) and by Brazilian standards. The research conducted has a qualitative character, in order to develop a clear and concise methodology for measuring assets from the fair value and the impairment test, seeking to provide more appropriate information to stakeholders. The purpose of this research is based on the need for effective methods for evaluation of intangible assets, proposing discussions on a topic to present financial accounts.

S. Tome and Principe has no securities market, but has a growing business sector. It should be noted, too, the development of tourism in recent years, and future prospects of oil extraction, construction of a deep-water port and the creation of free zones.Thus, the relevance of the financial audit as an essential factor for information credibility presents itself also as one of the ways of attracting investment, creating conditions for economic and social development.there was stagnation in private sector audit development, after the auditing profession legislation. Being that there is need for reform of the law that gave rise to the exercise of financial audit and, consequently, the institutionalization of the profession.Aiming to assess the importance attached to the audit we have done a questionnaire to Chief Financial in S. Tome and Principe firms. The results showed that the activity is underdeveloped. However, about half of the companies surveyed audit their accounts, and of those, half do it voluntarily. They also recognize advantages on financial audit existence. We concluded that there are conditions that provide the evolution of the financial audit in S. Tome and Principe.

In a society with increasingly fierce competition and where globalization concealed geographic barriers once felt, it is imperative to resort to new ways, new tools that allow companies to on one hand, offer added value to its stakeholders and on the other, evolve in and to different markets from its already explored. However it’s not enough wanting to explore other markets, it is first necessary to define an international marketing strategy, focused on the organization's target, that creates guidelines for the path it should follow in order to effectively achieve its (correct and substantiated) internationalization.Focused not only on the most relevant theoretical concepts of international marketing but also in major contributions to the understanding of national culture, this dissertation intends to be a case study that will allow the author to characterize and evaluate the ongoing process of the internationalization of the company PT Inovação in South Africa to, finally, define a set of guidelines that may enhance and improve the company's strategy.

This project discusses the Local Governance in Portugal and its future perspectives, the New Public Management, and its models, and also the institutional management model of the Local Municipalities and Municipal Companies in providing public services in Portugal. Thus, this new paradigm is grounded on the introduction of market mechanisms and on the adoption of private management tools, on the promotion of competition between providers of Services of General Interest, in view of improving the service for the citizen in increasing management efficiency and flexibility. Furthermore, it addresses the legal framework of both the local municipalities and decentralisation of responsibilities from the Central Power to the Local Power. On the other side, this project’s case study addresses/assesses/ and investigates the feasibility, the economical-financial structure and the relation of the Municipality of Leiria and its public enterprise.

This study assesses the influence of performance in the adoption of impression management strategies. The study conducts a content analysis of a sample of 45 chairman’s statements, included in the annual reports for 2010 Portuguese companies in the non-finance sector. Findings indicate that performance does not explain impression management.Consistent with social psychology theory of impression management, larger companies present a favourable image of the firm, however consistent with an overall reading of the annual report. These companies are more verbose, consistent with the retrospective sense-making argument.

O nº 3 da Série IV da Revista Estudos, após uma paragem forçada por circunstâncias conhecidas, regressa para continuar a trilhar o espaço da divulgação da ciência e do conhecimento.Os artigos deste número revelam a diversidade dos enfoques – da economia, da gestão e da contabilidade – na observação e análise da complexidade do sistema económico e financeiro.Vejamos:- O Comportamento do Investidor é Influenciado por Fatores Psicológicos? Evidência Empírica no Mercado Português – parte para a análise dos comportamentos, interpretados pelas finanças comportamentais, e respetiva influência na tomada de decisão de investidores residentes no território português;- Estratégias para Mensuração e Contabilização do Valor da Marca – apresenta uma visão geral das metodologias de avaliação do valor da marca e das restrições para o seu reconhecimento contabilístico através de uma análise centrada na teoria contábil e em modelos com apetências diversificadas;- Ciência Económica e Formação de uma linguagem – acompanha o processo dinâmico de co-evolução da ciência económica e das Contas Nacionais até à plena consolidação destas como linguagem universal e como sistema de informação para a análise económica e para a governação dos “espaços de crise”;- Alteração Normativa e Efeitos na Opinião do Auditor – evidência do PSI20 – foca as alterações normativas após a “Sarbanes Oxley Act” e suas repercussões no enquadramento legal da União Europeia e respetivos efeitos na qualidade da opinião do auditor;- Efeito da Adoção da NCRF 6 “Ativos intangíveis” do Sistema de Normalização Contabilística – centra a sua análise nos efeitos da aplicação da norma (NCRF6) no valor dos Ativos Intangíveis, na posição financeira das entidades observadas, no seu desempenho financeiro e nos indicadores económico financeiros utilizados.Cumpre-me referir que este artigo foi elaborado pela Mestre Helena Santos Ferreira, em coautoria com os seus orientadores de mestrado – entre os quais figura o Professor Coordenador Domingos José da Silva Cravo, falecido no passado mês de Março. É mais uma notícia que empobrece o mundo da Contabilidade – desta vez um ex aluno e professor da nossa Escola que, apesar de nos deixar, poderá sobreviver nas ideias que ensinou e divulgou.O Espaço de Divulgação de Teses de Mestrado, elaboradas e discutidas no ISCA/UA, dá a conhecer os primeiros trabalhos realizados pelos nossos alunos na sua caminhada científica. Neste número podemos realçar teses nos seguintes domínios: opções efetuadas pelo Luxemburgo no quadro do art. 5º do Regulamento 1606/2002 – CE; procedimentos contabilísticos impostos pelo SNC na contabilização dos subsídios do Governo e sua divulgação; controlo interno nos municípios e impacto da utilização das novas tecnologias de informação no referido processo.A Revista Estudos do ISCA espera continuar a merecer o reconhecimento da comunidade científica, a participação ativa dos seus leitores e a submissão de artigos que serão sempre a nossa razão de permanecer “on line”.E, finalmente, deixamos uma boa notícia: o próximo número beneficiará da colaboração especializada de um “corpo de referees” alargado ao contexto internacional.

According to standard finance, individual is characterized byperfect self-interest and perfect rationality. However, researchin the field of behavioural finance has shown that valueexpressive characteristics matter in investor choices, and investors are susceptible to a broad set of cognitive errors in their decisions.This study reports the empirical results of a survey addressedto 300 Portuguese subjects, whose purpose is to analyze ifinvestor behavior is affected by psychological traitsdocumented by the behavioral finance school.The major conclusion is that risk aversion is a pervasivecharacteristic of investor behavior. We also find some evidence for patriotism, loss aversion and overconfidence.Globally, the results indicate that investor’s attitudes anddecisions are influenced by psychological factors asdocumented by the behavioral finance school.

There are records that describe how remote is the use ofmarks, which show that some Egyptian pottery bricksstamped with symbols and associations of commerce inmedieval Europe, trademarks used on products to identifythem, ensure quality, and obtain legal protection on anexclusive market, although the former accountingdefinitions of the term have emerged only in mid twentiethcentury. Recently, the measurement of the correct value ofbrands is the subject of constant debate in the mediaeconomic, financial, accounting and marketing, however,those working with brand management, you know thedifficulty in defining the heritage value of a brand. Thisarticle has as main objective, set out an overview of thebasic valuation methodologies for measuring brand valueand provide important constraints for recognition of thesame book, through the presentation and description ofmodels based on the cost, market, financial market andincome, and hybrid models, addition to addressing thisissue from the perspective of accounting theory.

The dynamics of the economic science evolution it isfollowed by the development of the national accounts, as astructured language and, later on, by the first internationalsystems of national accounts. On this study we used themetaphors of the economic science to signalize the changeon its paradigms and the birth of national accounts. In fact,the mechanical metaphor creates a “gap” betweeneconomic science and national accounts but opens theopportunity for the organic metaphor – the one thatconducts the economic thought towards theinstitutionalism, develops the theories and quantificationbased on aggregates, and supports Keynes’s model – arevolution in the macro economics and in the economiclanguage, in the line of an economic science sustained byfacts and observations. Afterwards, Stone, the Nobel of 84,considering, as Keynes did, that the development ofeconomic science depends on the effective combinationbetween facts and theories, creates the 2nd internationalsystem generation of national accounts and supportsnational accounts as an universal language. Today, in a crisiscontext, more than ever, the market and its rules are inquestion, when considered as an auto regulation instrumenton the service of the mechanical economic image thatcloses the system on itself; the dynamics of evolutionstimulates the construction of a new economic languageand triggers the 5th international system generation ofnational accounts, skilled to give the proper answer for thenew demands of information. We conclude that nowadaysnational accounts characteristics - as accounting model andeconomic language for the analysis and governance –follow the construction of an evolution dynamics, leavingbehind the changing process of the paradigms in theeconomic domain. We are facing a new and different “gap”explained by the co - evolution process of economicscience and the language of the national accounts.

In recent years there has been an increasing demand of themarkets about the reliability of the information, under a set of financial scandals that put into question the audit function. In this context appeared, in 2002 in the U.S., Sarbanes Oxley Act, which has influenced others regulations initiatives. The European Union was not indifferent to these changes and also produced a set of recommendations and proceeded to update the guidelines by publishing the Directive 2006/43/EC.It is therefore important to analyze the regulatory changes inaudit after "Sarbanes Oxley Act" and see if they had effects on the auditor's opinion.To understand how the auditor's opinion has evolved in thisperiod of major changes, we did an empirical study based on theanalysis of audit reports of listed companies belonging to thePSI General from 2001 until 2008. According to the dataobtained, it was concluded that the auditor's opinion had asignificant positive trend. This conclusion was reinforced by the positive reports obtained in the same period by the Committee on Quality Control of the Order of Chartered Accountants, in respect of quality control auditors.