Abstract We study the interrelation among the post-earnings announcement drift (PEAD) and momentum short-term anomalies, and the reversal long-term anomaly. Some theories argue that PEAD and momentum are a consequence of underreaction to new information on the market. One theory in particular,...

We build a Real Options model to assess the importance of private provisionand the impact of expropriation risk on investment timing, investmentvolumes, governmental costs and social welfare. We consider two types ofbusinesses (essential and non essential businesses) and two stages (operatingand...

In this paper, we construct a structural model to determine the costs of a bank rescue considering bail-outs and bail-ins. In our model, a government assumes the equity stake under unlimited liability upon abandonment of the original equity holders. The model determines an abandonment trigger...

Regions interact with multiple actors and industrial companies are one of the most important players in this interaction. By their strategic actions and relationships, companies are simultaneously present in different regions and influence a territory’s dynamics and structure. Moreover,...

Este working paper analisa o caso de Montalegre, um concelho que soube criar atempadamente marcas com autenticidade e especializar-se na sua divulgação, o que lhe permitiu levar a cabo diversos certames com potencial para gerarem procura turística durante todo o ano. A Feira de Fumeiro de...

Nenhuma região é uma ilha. As regiões contêm realidades que dependem de relacionamentos estabelecidos entre actores localizados em diversos espaços geográficos. Por isso, o sucesso de uma região não surge instantaneamente mas resulta de um longo processo de interacções entre diferentes...

The objective of this paper is to empirically explore the economic and financial effects of renewable energy consumption on firms’ financial performance. We collect information from Bloomberg and ORBIS (Bureau Van Dijk) databases of a sample of more than 500 firms from 18 countries during the...