ESEIG - UTC Contabilidade, Gestão e Economia
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Browsing ESEIG - UTC Contabilidade, Gestão e Economia by Author "Fernandes, Joel"
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- Size matters when we talk about corporate social responsibility: the case of portuguese companiesPublication . Fernandes, Joel; Silva, AmândioSocial responsibility arises as a measure of the corporate policy that goes beyond the production activity, thus covering also the social and environmental activities. This issue has been gaining importance over time. The number of companies that are implementing socially responsible actions has been growing steadily even though it is still centered on large and medium sized companies. Social responsibility is an accessible theme to any company of any size, once the social and environmental issues are resolved through concrete actions, but in the small and micro-sized companies there are factors that inhibit such actions. Some of these factors are: reduced investment capacity; minimal expectations of medium to long term returns; or even the short-term management focus that is aimed at survival. Such facts can be verified in the case of Portuguese companies, where out of the 41 companies certified by SA 8000 only 5 are micro-sized or small and even these are linked to large organizations.
- The application of Basel III in Portugal: previsions based on 2012 and 2013 banking balance-sheetsPublication . Silva, Amândio; Fernandes, JoelThe Basel Committee on Banking Supervision (BCBS) introduced new regulations for banking supervision in December 2010, better known as Basel III recommendations that aimed at guaranteeing the solidity of banks worldwide and the mitigation of new banking crises risks. The European Union transposed these directives through the Credit Review Directives IV (CRD IV). Portugal adopted CRD IV by a new decree-law no. 157/2014, on 24 th October 2014, enforced from 24 th November 2014. While individual banks have been given the option of using the internal ratings based method, this study analyses the compliance levels of all Portuguese banking institutions using the standard method, also prescribed by BCBS. Our results show that out of thirteen banks on 31-12-2013 only five banks were in a comfortable position and the remaining eight could not reach the minimum requirements set up by BCBS for 1-1-2014.
- The impact of the implementation of the Basel III recommendations on the capital of portuguese banksPublication . Silva, Amândio; Fernandes, JoelThis paper analyses the impact of the implementation of the Basel III recommendations, using the standard method, in Portugal. For our study, we used the annual reports of 31st of December of 2012, and found out that out of the fourteen banks that published annual reports, only six satisfied the minimum ratios laid out by BCBS. Till 2012, Portuguese banks used an internal ratings method based on the Basel II recommendations known as notice 6/2010 of the Portuguese central bank, Banco de Portugal. As the implementation of the recommendations of Basel III in the EU via the Credit Review Directive IV is scheduled for 2014 and later years, Portuguese banks may severely contract credit upon implementation, as that is the easiest, fastest and cheapest way for banks to satisfy the minimum ratio requirements as compared to an increase of capital or credit spreads.
- The influence of company size in its capacity for internationalization: an application to the portuguese furniture manufacturing industryPublication . Fernandes, Joel; Machado, Carolina FelicianaIn the competitive environment where companies operate nowadays, there is a need to adopt intemationalization strategies to enable consolidation in diversified markets. The internationalization process is pait of a relevant strategy for companies, has several implications and is influenced by many specific issues, namely companies behavior, its culture and stmcture, as well as its leadership. However, it is on the organization structure that we find one ofthe most relevant features: the dimension (size) of companies. With a particular focus in the influence of a company size in its capacity for intemationalization, as well as the interest shown by companies to increase their size, the empirical work carried out during this research had a triangular methodology base, given that we developed and applied qualitative (interviews) and quantitative (questionnaires) nature instruments for data collection and analysis. We have interviewed furniture manufacturing industry managers in order to have a better understanding of this reality. Results allowed us to conclude that companies value increase in size; nevertheless, for cultural reasons that are inherent to the industry, they are still resistant to such an increase. For increasing their size, companies value several instruments, such as: strategic alliances/corporate cooperation; fusions and acquisitions; and risk capital interventions.