ISSUE #04, Apr 2023

Research E-News

We want to change the world and we will do it with the right people.


Highlight

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Pedro Ferreira is ranked 17th researcher in the world in the latest ranking of the Association for Information Systems (AIS). This ranking tracks publications in the top journals in the field for the last three years, such as Information Systems Research (ISR) and Management of Information Systems Quarterly (MISQ). Pedro Ferreira’s work focuses on how people use technology to consume experience goods and influence others to do so. These are inextricably linked to how firms behave and how public policies affect market structures. His work focuses on the application of robust empirical identification methods to analyze large datasets obtained from organic in-vivo large-scale network-centric randomized experiments. The bulk of his work is on medialytics – using big data analytics to understand the media industry’s future. More recently, he has also been studying ways to improve video-based remote education, in particular for labor re-skilling in machine learning. The professor's work has been published in top academic journals such as Management Science, Marketing Science, and the Journal of Marketing Research (in addition to ISR and MISQ).

Spotlight

Frick, T., Belo, R., & Telang, R. (2023). Incentive misalignments in programmatic advertising: Evidence from a randomized field experiment. Management Science, 69(3), 1665 - 1686.

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Publications

  • Santos, J. V., Martins, F. S., Pestana, J., Souza, J., Freitas, A., & Cylus, J. (2023). Should we adjust health expenditure for age structure on health systems efficiency? A worldwide analysis. Health Economics Review, 13(1), [11].

  • Firmino, J., Guilherme, A., Leme, A. C., & Nunes, L. C. (2023). The termination of publicly funded private school contracts: Supply and demand side effects. Journal of School Choice, 17(1), 82-102.

  • Cesário, F., Rodrigues, A., Castanheira, F., & Sabino, A. (2023). The role of reaction to feedback in the relationship between performance management, job satisfaction, and the leader–member exchange (LMX). EuroMed Journal of Business, 18(1), 129-144.

  • Zózimo, R., Cunha, M. P. E., & Rego, A. (2023). Becoming a fraternal organization: Insights from the Encyclical Fratelli Tutti. Journal of Business Ethics, 183(2), 383–399.

  • Santos, J. V., Gomes da Costa, J., Costa, E., Almeida, S., Cima, J., & Pita-Barros, P. (2023). Factors associated with non-pharmaceutical interventions compliance during COVID-19 pandemic: A Portuguese cross-sectional survey. Journal of public health (Oxford, England), 45(1), 47-56.

  • Mata, M. E., & Roldão, M. J. S. (2023). (Un)sustainability in a Monetary Union: Main factors in the Escudo Zone Monetary Union (1963-71). Essays in Economic & Business History, 40, 233-264.

  • Abrantes, A. C. M., Passos, A. M., Cunha, M. P. E., & Silva, S. A. D. (2023). Looking at team improvised adaptation through a paradoxical lens: The role of team plasticity. Journal of Applied Behavioral Science, 59(1), 88-126.

Achievements

  • Anne-Laure Fayard is now Academic Director of the Master's in Impact Entrepreneurship and Innovation

    Nova SBE congratulates Anne-Laure Fayard on her promotion to the position of Academic Director of the Master's in Impact Entrepreneurship and Innovation at our school.

  • Patient Innovation and Nova SBE in the HealthECOnnect project

    Patient Innovation (PI) has just kicked-off the project “HealthECOnnect”, funded by the PI and the European Commission through the Innovation Ecosystems Initiative within the Horizon Europe, with a consortium of European partners, including Nova SBE. This project aims to connect the health innovations ecosystems in Portugal and Denmark and intends to develop a new educational program on health innovation.

  • Nova SBE congratulates PhD students

    Nova SBE congratulates PhD students on successfully defending their doctoral thesis. The Economics PhD student Afonso Saraiva Câmara Leme defended his thesis “Essays in Economics of Education” with Ana Balcão Reis and Luís Catela Nunes supervision. The Finance PhD Daniel Pereira Monteiro defended the thesis “Essays on the Financial Economics of a Monetary Union”. Francesco Franco and João Pedro Vidal Nunes (ISCTE-IUL) were the supervisors. Also, the Economics PhD Student Carolina Gameiro Nogueira defended the thesis “Essays on Political Economy and Development” with the supervision of José Tavares and Cláudio Ferraz (University of British Columbia).

Researchers on Media

Pedro Pita Barros and Eduardo Costa

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Pedro Pita Barros and Eduardo Costa, from the Nova SBE Health Economics & Management Knowledge Center, presented the 2022 Report on Human Resources for Health. This study deduced that about 25% of doctors are over 65 years old and 5,000 will retire by 2030. The conclusions of the report were mentioned in Público, Diário de Notícias, Observador, Visão, SIC Notícias, CNN Portugal, and RTP, among others. In the scope of this report, Eduardo Costa was interviewed by Saúde+.

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Rodrigo Tavares 

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Rodrigo Tavares had his whitepaper on Sustainability in the Tourism sector mentioned in Jornal Económico, TNews, and Ambitur, amongst other media. The document points out 17 recommendations for the Tourism sector in Portugal resulting from a reflection promoted by the Nova SBE Westmont Institute of Tourism & Hospitality with several stakeholders to identify instruments and practical solutions to face the challenges of sustainability in Portuguese tourism. He was also interviewed by Poder Local magazine on how the municipalities have a word to say about the sustainability of the companies that invest in their councils.

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Miguel Ferreira

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Miguel Ferreira was the guest on the latest episode of the podcast No Final de contas, where he spoke about the Finanças para Todos program and also about the challenges that families currently face due to the economic context. He defended that "in the long term, and in a sustainable way, the best strategy is to have a national financial literacy plan similar to the actual national reading plan". The program was also the subject of a TV report by Contas Poupança (SIC).

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Qiwei Han 

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The study “Impact of Covid-19 on Tourism and Hospitality: Evidence from Airbnb”, coordinated by Qiwei Han, from the Nova SBE Data Science Knowledge Center, was mentioned in media such as Executive Digest, TNews, and Dinheiro Vivo. The study concludes that, due to the pandemic, local accommodation in Portugal lost around 2,700 reservations a day in the summer of 2020, but has already recovered from pre-covid levels.

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Nova SBE

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Nova SBE, through Haddad Entrepreneurship Institute, is among the ten founding schools of the European Scaleup Institute (ESI), a platform of academic experts and practitioners in Europe for scaleups, high-growth firms, governmental organizations and policymakers to address the scaleup gap. The first meeting of the Institute will be held on June 1-2, at the Nova SBE, and will gather researchers and academic professionals to analyze and share knowledge about the scaleup ecosystem in the world. The event was mentioned in several media such as Jornal Económico, Forbes Portugal, and Executive Digest.

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Jenny Hoobler

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Jenny Hoobler spoke to Forbes Portugal and Executive about gender inequality in leadership positions, in the context of “We Can Do Better”, an initiative hosted by Nova SBE to mark International Women’s Day. Hoobler remarked that “only one in four managers worldwide are women”. The event was also mentioned in Expresso.

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José Tavares

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José Tavares’ essay “Estado Social: Modo de Usar” was published in Revista E (Expresso). In this essay, he approaches the state of the Public School System in Portugal, and the consequences of its problems, concluding that “if the Portuguese democracy does not rescue and save the public school, it will hardly be able to rescue itself.”

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Miguel Pina e Cunha

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Miguel Pina e Cunha was interviewed by Expresso about how the purchase of Twitter by Elon Musk was a novelty. He pointed out that “until that time, Musk distinguished himself by generating new projects, rather than buying projects that were already operational.”

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Daniel Traça

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Daniel Traça was invited to É ou Não É? (RTP program) to talk about the crises in the banking sector and its the risks in the near future. He stated that “safeguarding the security of banks is crucial and regulation plays a key role in these cases [Credit Suisse and Silicon Valley Bank]." He also added that “a scenario like the 2008 global crisis is not likely to happen”.

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Francesco Franco

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Francesco Franco commented on the productivity increase in Portugal in 2022, in an interview with Jornal de Negócios. Although productivity has reached historic highs in the last year, he stated that “it is premature to say whether that is a trend in the medium and long term”.

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 Susana Peralta and Anne-Laure Fayard

In the context of International Women’s Day, Susana Peralta and Anne-Laure Fayard were interviewed by Líder Magazine about the challenges for women in science. The researchers talked about the lack of women representation in top positions and approached possible ways to reduce these inequalities, reinforcing the importance of role models in this area.


Susana Peralta

Susana Peralta was on RTP 360 to comment on TAP's positive results in the last year. The professor highlighted “a quick post-pandemic recovery” but complemented by saying that these profits still represent a tenuous growth. Peralta was also mentioned by Jornal de Negócios in an article about the companies’ profit margins as the most important factor for inflation. She also continues to have a regular presence at Fora do Baralho (Rádio Observador).


Luciano Amaral

In an article published on Sábado, Luciano Amaral talked about price control by the State during the 70s in Portugal. He said that “much of the price-fixing culture already came from Estado Novo, where intervention in prices was almost general”.


Pedro Freitas

Pedro Freitas was on SIC Notícias to comment on the teachers' manifestations and the structural problems of public schooling in Portugal. The researcher alerted for “a predictable shortage of teachers in the upcoming years” and for the “need for long-term solutions”, considering that the current situation “damages the students' future and needs to be resolved quickly”.


Pedro Martins

Pedro Martins talked to Expresso about the collective layoffs rise. The professor defined the increase in unemployment as predictable, stating that the war on Ukraine and the high inflation are “barriers to the operation of companies and, therefore, to their dynamics.”


Pedro Neves

Pedro Neves was quoted in an article published in Visão about negative behavior in the workplace and the concept of “affective presence”. The professor pointed out that “affective presence depends on personal charisma, the eye of the beholder, and the way one feels” and emphasizes that success depends on what is valued, at each moment, in the work environment.


Pedro Brinca

Pedro Brinca was interviewed about the zero VAT on selected food items as a measure to fight inflation in Rádio Renascença, Expresso, CNN,  SIC Notícias, RTP3, ECO e TVI, among others. Regarding the budget execution, the inflation numbers, and the redesign of the fiscal rules in 2024 he gave interviews to several media, such as SIC Notícias, Jornal Económico, and Expresso. Regarding the bank sector crises, he spoke to Antena 1, RTP3, Jornal Económico, SIC Notícias, and TVI. The Housing sector was commented by him in CNN, SIC Notícias, and Expresso. He also analyzed the seven years of Marcelo Rebelo de Sousa's Presidency to ECO and the appointment of Luís Rodrigues as the new CEO of TAP, also to ECO.


Social Leadership for Managers

The sixth edition of the Social Leadership for Managers - executive program of the Social Equity Initiative - will take place in Porto, in a partnership project between Nova SBE and Católica Porto Business School. This year, the event will be held from September 26 to October 13 and was mentioned in Executive Digest.

Emanuel Gomes

Digital servitization is the trend of recent years and can contribute to regaining the competitiveness of European companies in markets that produce on a large scale and at low prices. The conclusions are from the study Treble innovation firms: Antecedents, outcomes, and enhancing factors, carried out by Emanuel Gomes, among other authors, cited in Dinheiro Vivo

Researchers Corner

Joint debt issuance in the EU: theory and reality

The European response to the covid-19 crisis saw an important political breakthrough in the form of large-scale joint debt issuance. Starting in October 2020 with the SURE programme and followed up in June 2021 with the NextGenerationEU (NGEU) programme, EU Member States empowered the European Commission to issue up to € 900 bn in debt markets to fund policies protecting jobs, fostering investment and promoting structural reforms. The market performance of NGEU and SURE bonds was quite positive up until early 2022: an AAA rating; large demand, including from foreign investors; spreads comparable to those of France; and relatively high and increasing market liquidity. [1]

Throughout 2022, monetary policy normalisation and the Russian war of aggression against Ukraine increased macrofinancial risks, with some negative repercussions on the performance of EU bonds.

In theory, the benefits of joint issuance can be sizeable. Fully mutualised and fully credible “Eurobonds” can lower financing costs for all Member States in the long run, [2] help sever the ‘diabolic’ sovereign‑bank loop, deepen the capital markets union, bolster the international role of the euro and improve macroeconomic functioning. While joint issuance under NGEU and SURE is large by historical standards, it is small when compared to existing theoretical proposals, with its potential also limited by its temporary nature. In the absence of significant sources of autonomous revenue, the EU is perceived as a supranational issuer whose creditworthiness is fundamentally exposed to that of Member States, through loans and budgetary claims. Nevertheless, NGEU has already provided an important signal of commitment to the European project, which immediately lowered perceived sovereign risk when the programme was announced in 2020. Its successful implementation will help determine if large‑scale issuance was a one-off emergency device, or whether it can become a permanent feature of the architecture of the EU.


Daniel P. Monteiro, PhD in Finance [3]



[1] See Monteiro D. P. (2022), “The Market Performance of EU Bonds”, Quarterly Report on the Euro Area, vol. 21(1), pages 31-42.

[2] Monteiro D. P. (2023), “Common Sovereign Debt Instruments in the Euro Area”, European Economy (forthcoming).

[3] The author is writing exclusively in his personal capacity.

Opinion Articles

Events

  • Miguel Ferreira presented his work at the Tinbergen Institute

    Miguel Ferreira presented his work on the effects of mortgage moratoria during COVID-19 in Portugal at the Tinbergen Institute.

  • Pedro Freitas at the 8th edition of the LEER

    Pedro Freitas presented his paper “High-stake exams change teacher grading standards: evidence from a policy reform” at the 8th edition of the LEER (Leuven Economics of Education Knowledge Center) Conference.

  • Pedro Pita Barros participated in the 12th Valor APAH conference

    Pedro Pita Barros participated in the 12th Valor APAH conference dedicated to the theme “Human Capital in Health”, in the session “Transfer and Sharing of Competences in Health – are we prepared?”

  • Susana Peralta participated in the cycle of talks at Porto municipal libraries

    Susana Peralta participated in the cycle of talks at Porto municipal libraries about the seven deadly sins where she commented on the sin of Avarice. The objective is to create a multidisciplinary and informal discussion around the concept of “sin” and explore its multiple dimensions.

  • Nova SBE Health Economics & Management Knowledge Center discussed Primary Health Care

    In the second event of the series “Designing the Future in Healthcare”, the Nova SBE Health Economics & Management Knowledge Center discussed Primary Health Care. The event featured the challenges faced by primary care providers and patients, and innovations in the organization of primary health care, exploring new approaches in Portugal and other countries.

  • Nova SBE at the UN Water Conference

    Pedro Oliveira participated in the Business Roundtable Portugal, an event hosted by Nova SBE that gathered 42 CEOs of the largest Portuguese business groups, to discuss economic growth and social development in Portugal. He also participated in a debate about how artificial intelligence and the Chat GPT platform can transform our lives, alongside Ana Balcão Reis, Cátia Batista and Pedro Pita Barros, and in the UN Water Conference held at the UN Headquarters in New York with Antonieta Cunha e Sá. They were speakers at the "Promoting Water Culture through Learning & Action" side event.

  • Miguel Pina e Cunha was a speaker at SAP Success Factors community meeting

    Miguel Pina e Cunha was a speaker at the meeting of the SAP Success Factors community in Portugal. Under the name “HR Connect: Change Work for Good” it aimed to create an opportunity to change the way of thinking and change work for the better. Among the speeches and debate sessions, the talk “10 Challenges for people management” by Miguel Pina e Cunha stands out.


  • Pedro Brinca at the webinar on Centralization of Audiovisual Rights

    Pedro Brinca was a speaker at a webinar on Centralization of Audiovisual Rights. This was the first of five webinars organized by Liga Portuguesa de Futebol.

  • Anne-Laure Fayard organized the 2nd edition of the Design Jam for Impact

    Anne-Laure Fayard, under the scope of the ERA Chair in Social Innovation, organized the second edition of the Design Jam for Impact organized by DESIS Lab Nova School of Business and Economics in partnership with REDE DESIS Lab @ Faculty of Architecture University of Lisbon (FAUL). Anne-Laure Fayard facilitated the workshop with Inês Veiga, a designer, and professor at FAUL.

Other News

  • Applications for the Pedro Pita Barros Award are open

    Applications for the Pedro Pita Barros Award are open. Authors interested in applying for the prize should send an article by May 8, 2023 to apes@apes.pt, with the subject “Pedro Pita Barros award”. Promoted by the Associação Portuguesa de Economia da Saúde (APES), with the sponsorship of ANF - Associação Nacional das Farmácias, the prize aims to encourage research in the area of Health Economics by young researchers and is awarded every two years. It has a monetary value of €3,500 and aims to recognize the best scientific article in the area of Health Economics published in a scientific journal with peer review. More information here.

  • Joana Castro e Costa from LFI is one of the 5 finalists for the “Female Entrepreneurial Leader of the Year” award

    Joana Castro e Costa from the Nova SBE Leadership for Impact Knowledge Center (LFI) has been selected as one of the 5 finalists for the “Female Entrepreneurial Leader of the Year” award category of the 2023 Triple E Awards on Entrepreneurship and Engagement Excellence in Higher Education. She will be in Barcelona at the end of June representing Nova SBE. “This is a recognition of LFI’s great work”, she said.

Good to know

NOVA cultural agenda

Universidade Nova de Lisboa is creating a website for Culture content within NOVA – cultural agenda of the rectory and schools, and projects – this page intends to promote research and applied knowledge projects related to Culture. If you worked or are working on something that could be included on this page, please send it to madalena.sousa@novasbe.pt

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