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ISSUE #07, Jul 2025

Research E-News

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


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Highlight

Nova SBE Secures ERC Funding to Study the Impact of Financial Literacy on the Active Population

SDG #. Description

Nova SBE has further strengthened its leadership in scientific research in Europe, remaining the only institution in Portugal to receive funding from the European Research Council (ERC) in the fields of Economics, Finance, and Management (panel SH1 – Individuals, Markets and Organisations).


The project FINANCEforALL, led by Miguel Ferreira, Full Professor and Vice-Dean at Nova SBE, has been awarded €2.5M from the ERC Advanced Grant — the first ever granted in Portugal within this panel. The study aims to assess the impact of financial literacy training on the working population in Portugal, analysing not only the direct effects on individuals’ financial knowledge and behaviour, but also the indirect impacts on their colleagues, companies, and local economies. Miguel Ferreira also holds the Banco BPI–Fundação “la Caixa” Chair in Responsible Finance and coordinates the financial literacy program Finanças para Todos at Nova SBE.

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Pedro Pita Barros awarded “la Caixa” Flash Call funding

Pedro Pita Barros has been selected in the Flash Call to support research projects based on quantitative surveys (FP25-1B) by the Fundação “la Caixa”, with his project LIFESPANS-PT – Social impacts of longer lifespans: health care, financial security, and wellbeing in Portugal.


The project will receive €33,400 and aims to quantitatively assess how longevity affects quality of life and healthcare needs in old and very old age in Portugal, using a forward-looking and experience-based perspective of the elderly. Congratulations on this achievement, which highlights the relevance of research on ageing and wellbeing in Portugal!


Spotlight

Griffin, J. M., Hirschey, N., & Kruger, S. (2025). Why is the fragmented municipal bond market so costly to investors and issuers? Journal of Economic Perspectives, 39(2), 235-260.

SDG #. Description

Narayanan, P., Somasundaram, J., & Seifert, M. (2025). Risk-averse algorithmic support and inventory management. European Journal of Operational Research, 322(3), 993-1004.

Demetrescu, M., Rodrigues, P. M. M., & Taylor, A. M. R. (2025). Predictive quantile regressions with persistent and heteroskedastic predictors: A powerful 2SLS testing approach. Journal of Econometrics, 249 (Part B), Article 106002.



Publications

Achievements

  • Nova SBE Finance Master’s: 6th Globally, 5th in Europe

    Our school has achieved its best-ever result in the Financial Times Masters in Finance 2025 ranking, placing 6th globally and 5th in Europe. This marks a one-place rise from 2024 and five from 2023, making it the highest position ever reached by a Portuguese school.

    Pedro Oliveira highlighted key achievements:
    • 2nd worldwide in international career mobility
    • 4th in international course experience
    • 8th in ESG content
    • 10th in carbon footprint

    The program also saw increased diversity, with 56% international faculty and 49% female students—a 17-point rise from 2024. Nova SBE also climbed to 16th in Alumni Network and achieved a student satisfaction score of 9.57/10.

  • Liliana Dinis wins 2025 FFI Best Dissertation Award

    Liliana Dinis has been awarded the prestigious 2025 Best Dissertation Award by the Family Firm Institute (FFI) for her doctoral research titled “Of Ghosts and Strangers in Family Firms: The Founder’s Shadow in the Organization’s Daily Life.” The award, granted after multiple rounds of blind review by an international panel of leading scholars in family business, recognizes outstanding contributions to the field. Liliana expressed deep gratitude for the guidance of her supervisor, Pedro Neves, and highlighted the role of Nova SBE’s doctoral training and research culture in this achievement. This recognition not only celebrates her accomplishment but also reinforces Nova SBE’s impact in advancing research in family business studies.

  • Miguel Pina e Cunha Award-Winning Research

    Miguel Pina e Cunha's paper, co-authored with Sara Lombardi and Luca Giustiniano, “Beyond the Emergency: Medium-Term Organizational Effects of Pandemic Responses in Italian Hospitality”, received an award from the WOA - Italian Conference on Organization Studies.

  • SBE Congratulates PhDs

    SBE proudly congratulates Mehdi Lehlali and Miguel Farinha Oliveira on the successful defense of their PhD theses in Economics and Finance. Mehdi Lehlali defended his thesis titled “Essays on Sustainable Finance”, under the supervision of Melissa Prado. Miguel Farinha Oliveira defended his thesis “Essays in Corporate and Household Finance”, supervised by Miguel Ferreira and Fernando Anjos. We celebrate their achievements and wish them continued success in their academic and professional journeys!

Researchers on Media

Social Balance Report

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Several major Portuguese media outlets have reported on the latest Social Balance Report, which paints a stark picture of poverty and social inequality in the country. Among them, Renascença, Jornal de Negócios, Público, Expresso, Jornal Económico, TVI, Diário de Notícias, RTP and Rádio Observador, among others.

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Finanças para Todos

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The financial literacy program "Finanças para Todos", developed by Nova SBE and Fidelidade, was widely recognized in the Portuguese media after being awarded Best Non-Profit Adult Education Project at the 2025 Money Awareness and Inclusion Awards. The most relevant media outlets covering this achievement include Sábado, ECO, Jornal de Negócios, Jornal Económico, Diário de Notícias, and Correio da Manhã, among others.

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Sofia Kousi

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Sofia Kousi was cited in the article “Tudo pelos miúdos. Um mercado do tamanho da imaginação”, published by Notícias Magazine. The article highlights the emotional and imaginative dimensions of consumer behaviour, especially in contexts involving children or a family-oriented market.

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Luís Cabral

SDG #. Description

The article titled “Portugal precisa de acordos de regime”, featuring Luís Cabral, was published by Jornal de Negócios. It is part of their Negócios Iniciativas series, which highlights thought leadership and strategic insights from key figures in economics and public policy.

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Cátia Batista

SDG #. Description

The article “O emigrante é um embaixador do país. Quando promove o desenvolvimento económico, está a pagar de volta as suas propinas” was published by Revista Visão. It features insights from economist Cátia Batista on the positive impact of skilled emigration on the home country’s development.

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Miguel Ferreira

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Miguel Ferreira emphasized the importance of academic initiatives in supporting public policy. He highlighted how programs developed within the university context can contribute meaningfully to national strategies, particularly in areas like financial literacy and economic inclusion. His remarks were featured in Jornal de Negócios.

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Pedro Oliveira

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The article that highlights the growing interest of U.S. universities in forming partnerships with Portuguese institutions featuring Pedro Oliveira was published by ECO. He is also in the article that refers to the partnership between Hovione and Nova SBE, published by Jornal Económico. The piece highlights the alignment between the two institutions in promoting innovation, talent development, and long-term societal impact through education and research.

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Nova SBE European Research Council grant

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Nova SBE has been awarded a prestigious European Research Council (ERC) grant to study the impact of financial literacy on the active population. The project, led by Miguel Ferreira, received €2.5 million in funding and aims to expand the reach of the “Finanças para Todos” program, particularly to small and medium-sized enterprises (SMEs). This achievement was reported by several major outlets, including Jornal de Negócios, Correio da Manhã, Executive Digest, Sábado, Human Resources and Now.

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Miguel Pina e Cunha

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Miguel Pina e Cunha was recently featured in the Líder Magazine for his reflections on leadership at the Leadership Summit Cabo Verde, where he emphasized that leadership is a collective and paradoxical process, full of tensions, ambivalences, and shared responsibility.

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Pedro Pita Barros

Pedro Pita Barros has been featured in several media outlets for his insights on structural challenges in Portugal’s healthcare system. In HealthNews, he commented on the rise in overdue payments at public hospitals (EPE), noting that chronic debt cycles persist despite budget reinforcements. In Público, he discussed how the State has multiple tools to negotiate and manage the pricing of innovative medicines, balancing access and financial sustainability. He also addressed the growing public spending on new obesity treatments, which reached €21 million, raising questions about long-term affordability and prioritization.

Press Preview

Nova SBE Press Preview, our annual meeting with the media, this year had a speed date (with Science) format and was featured in Observador and Líder Magazine. The event brought together researchers and journalists for short, dynamic conversations on topics ranging from Artificial Intelligence to marine ecosystems. The initiative was well received, that a second round of (not so) speeding dates was promised, offering journalists and researchers another opportunity to deepen their dialogue and explore future collaborations.

Pedro Brinca

Pedro Brinca commented for Jornal Económico regarding the potential impacts of the conflict in Iran. Still war in the Middle East, we spoke to M80 and RTP3. About Portuguese Foreign Direct Investment, he was interviewed by RTP1 and Jornal de Notícias. On the government’s new program, he spoke to RTP3, TSF and Antena1. He was also in the debate about the capital's union and the second and third pillar of social security on RTP3. TO ECO, he made comments about the State being the main beneficiary of PT2020 and to Expresso, he spoke about how the house prices haven't gone down in 12 years. His and João Duarte's study about how shopping centres in Portugal generated over €14 billion in 2024, contributing 5% to the national GDP, was cited in Jornal de Negócios, CNN, Jornal Económico, Diário de Notícias, among others.

Pedro Neves

Pedro Neves was featured in Revista Líder for his reflections on the darker side of loyalty in organizations. He argues that what appears to be loyalty can sometimes be fear in disguise, especially in high-pressure environments. Neves highlights how ambiguous leadership and a focus solely on results can normalize unethical behaviour, creating a culture where opportunism thrives under the guise of commitment.

João Castro


João Castro was interviewed for RFM’s MUDA num Minuto series, where he emphasized the value of digital abstinence. He argued that taking intentional breaks from digital tools can help individuals reassess their habits and discover better, more mindful ways to use technology in daily life.

João Duarte

João Duarte made comments to Expresso on the latest GDP figures. According to the Instituto Nacional de Estatística, the economy contracted by 0.5% in the first quarter of 2025, pulling annual growth projections below 2% — significantly lower than the government’s initial forecast of 2.4%.

Pedro Freitas

Pedro Freitas was interviewed for a documentary co-produced with RTP and Fundação Francisco Manuel dos Santos, about the thousands of young Portuguese graduates who emigrate every year in search of better pay, career prospects, and quality of life. The documentary explores how Portugal can retain talent in a borderless world.

Nova SBE Economics of Education Knowledge Center

"The Teaching Profession in Portugal: Motivations, Challenges, and Barriers to Career Development", a national study on the teaching profession in Portugal, with Nova SBE Economics of Education Knowledge Center co-authorship, was featured in SIC Notícias, Now, Jornal Económico, Diário de Notícias, Correio da Manhã and CNN Porugal.

Rodrigo Tavares

Rodrigo Tavares continues to make weekly comments on the TSF program “Tem a Palavra”.

Susana Peralta

Susana Peralta continues her weekly Sunday commentary on RTP, as well as her regular analyses in Observador.

Researchers Corner

Rethinking the inclusion of people with disabilities 

When discussing DEI, disability is often grouped with dimensions like gender, ethnicity, or age. Yet, disability should not be treated as just another strand of diversity. While it shares challenges such as bias and discrimination, disability involves unique, systemic barriers—like inaccessible environments and unequal access to education and employment—that require distinct approaches.


Disability stands out for three key reasons: intersectionality, universality, and the need for adaptation. It intersects with all other identities, intensifying marginalization. It is also universal—many of us will face some form of disability in our lives. And unlike other identity markers, disability often requires ongoing, tangible adjustments from institutions and employers.


 We argue it’s time to think beyond conventional DEI frameworks and level the playing field. Based on a 16-month qualitative study of an extra-curricular program that paired business students with youth with disabilities to prepare for the job market, we show how organizations can foster new understandings of inclusion. Instead of a binary view of “abled” versus “disabled,” initiatives such as this program reveal inclusion as a relational, evolving process shaped by mutual learning.


Rita Nascimento, PhD student in Management, 

Era Chair in Social Innovation

Opinion Articles

Events

  • NHEM Hosts Madeira Regional Secretaries to Discuss Future Hospital

    Nova SBE Health Economics & Management (NHEM) welcomed Madeira’s Regional Secretaries for Health and Civil Protection, Micaela Freitas, and for Equipment and Infrastructure, Pedro Rodrigues, during a visit to Lisbon. The delegation aimed to explore innovative solutions for the new Central and University Hospital of Madeira, currently under construction. Accompanied by SESARAM President Herberto Jesus and Regional Director Sílvia Vieira, the group focused on technological advancements and best practices to ensure top-quality healthcare and working conditions. Discussions also included the integration of the hospital with academia and the creation of a space for innovation and health-focused startups.

  • Methodological Diversity in Focus at AoM 2025

    Benoit Decreton and Felipe Monteiro (INSEAD) are organizing a Professional Development Workshop at AoM 2025 called “Embracing Methodological Variety in the Study of Relations between MNEs and Startups”. It will happen on July 26th, and it's aimed at people who crunch big secondary datasets, dive into proprietary company data, run surveys, or craft rich case studies. More information here.

  • Nova SBE to Host Global Conference on Open and User Innovation

    Nova SBE will host the Open and User Innovation Conference (OUI Conference) on July 21–22, 2025. This is the world’s foremost academic event focused on open and user-driven innovation. Organized by Nova SBE’s Open & User Innovation Knowledge Center, the conference returns to Portugal a decade after its 2015 edition. The 2025 edition will explore pressing topics such as the growing role of artificial intelligence in user-centered innovation, the evolution of digital ecosystems and co-creation platforms, and innovation for social impact and sustainability.

  • The 2024 Portugal Social Balance report was launched 

    Nova SBE, in partnership with the Fundação “la Caixa” and BPI, has released the 2024 edition of the “Portugal, Social Balance” report, authored by Susana Peralta, Bruno P. Carvalho, João Fanha, and Miguel Fonseca from the Nova SBE Economics for Policy Knowledge Center. The report analyzes the socioeconomic conditions of Portuguese households, focusing on income, material deprivation, housing, and health. It identifies vulnerable groups based on family composition, education, employment status, and region. This fifth edition includes a special chapter on working conditions. Data sources include the 2023–2024 Living Conditions and Income Survey, the 2024 European Social Survey, and administrative data from Social Security and IEFP.

  • Nova SBE Financial Literacy Impact Study Presented at BFWG 2025

    The Nova SBE research on “Finanças para Todos: Experimental Evidence of a Financial Literacy Program” — a financial education program designed for adults in Portugal — was presented by Miguel Ferreira at the 18th International Behavioural Finance Conference (BFWG) in London. This joint impact evaluation with Diogo Mendes (Stockholm School of Economics) and André F. Silva (Federal Reserve Board) demonstrates how accessible and well-structured financial education can significantly improve financial literacy and decision-making across diverse populations. The findings show that participants in the program reported meaningful gains in financial knowledge and behaviour, affirming the importance of behavioural insights in adult financial education.


  • Nova SBE hosted a seminar on emerging technologies

    Nova SBE Data, Operations and Technology Knowledge Center hosted the seminar “Global Emerging Technologies – Blockchain and Beyond”, led by Gora Datta, Senior Member of the IEEE. The session explored key trends and insights on blockchain and other transformative technologies shaping industries around the world.  Leid Zejnilovic, resident affiliated faculty at the center was at the annual UBRI Connect 2025 in Singapore, in the panel “Regulator Mindset & Geopolitical Implications”.

  • HI-PRIX Partners Meet at Nova SBE

    Nova SBE Health Economics & Management Knowledge Center (NHEM) hosted the HI-PRIX HORIZON Consortium. This two-day gathering marked a key milestone ahead of the project’s Final Conference in Brussels on December 3, 2025. Partners from academia, public institutions, and research organizations came together to share progress and strengthen collaboration across work packages. Discussions focused on core themes such as equity in pharmaceutical innovation, pricing dynamics, novel payment schemes, HTA harmonization, and the role of public contributions in health innovation. NHEM also held the event Encontro Colabora Saúde with sessions opened on support instruments for activities in Family Health Units (USF), clinical pathways, extended team collaboration, and the experience of the four-day week in appointment management. Pedro Pita Barros and Filipe Costa were among the speakers.

  • Nova SBE hosts international events on subjective expectations in economics.

    As part of the EQUALNovaERA project, Nova SBE hosted two key academic events in early June:

    • The 2nd PhD Minicourse on Subjective Expectations welcomed 24 PhD students from 20 universities, with lectures by Adeline Delavande (Nova SBE and University of Technology Sydney), Charles Manski (Northwestern University), Pamela Giustinelli (Bocconi University), and Wilbert van der Klaauw (Federal Reserve Bank of New York).
    • The 8th Workshop on Subjective Expectations brought together 59 participants from across the globe. Highlights included keynote talks by Charles Manski (Northwestern University) and Nicola Gennaioli (Bocconi University), a 10-poster session, a discussion panel, and six thematic sessions featuring 15 speakers.

    More information

    PhD Minicourse: https://equalnovaera.pt/2nd-phd-minicourse-on-subjective-expectations-in-economics/

    Workshop: https://equalnovaera.pt/8th-workshop-on-subjective-expectations/

  • Nova SBE at the Heart of AI and Global Education Leadership

    Pedro Oliveira was at INSEAD for the AI Forum Europe he also participated in the CEMS - The Global Alliance in Management Education Strategic Board Meeting 2025, co-hosted by HEC Paris and L’Oréal at L’Oréal Headquarters (Le Visionnaire L’Oréal) and STATION F in Paris, two symbols of global leadership and innovation.

  • Carolina Santos Contributes to Key Debate on Migration & Health Systems

    Carolina Santos participated in the panel about Migration and Healthcare at the . This panel explores the intersections between migration, health care systems, and societal resilience in various European contexts.

  • Rodrigo Tavares Debates the Future of Sustainable Agriculture

    Rodrigo Tavares is among the specialists who gathered to debate a sustainable future for agriculture in Portugal at the conference “Sustainability and Competitiveness: a union or a conflict?” promoted by Rádio Renascença.

  • Nova SBE Public Policy Institute Kicks Off Masterclass Series

    Last week Nova SBE Public Policy Institute launched the first “Policies not Politics” masterclass featured Isaltino Morais and Ana Mendes Godinho. Key messages:

    • Politicians must communicate clearly and directly.
    • Every citizen interaction is a chance to build trust.
    • Social media is a tool for listening, not just broadcasting.
    • Disinformation must be countered with confidence.
    • Local governance is key to democratic resilience.

        Click here to explore more SBE events.

Research Seminars

Please check our website (here) for the room information and for any changes.

Other News

Pedro Pita Barros to lead Health Services Management Postgraduate Program

Pedro Pita Barros will serve as the scientific coordinator of the postgraduate program in Health Services Management at the Economics and Management School of Universidade dos Açores. He will also teach the module on Health Economics and Policy. The program begins in September and will be delivered in a hybrid format, with classes held both in person in Ponta Delgada and online.

NHEM contributes to the ERS public consultation on immigrant access to SNS

NHEM submitted a contribution to the Portuguese Health Regulatory Authority (ERS) consultation on immigrant access to the National Health Service. Authored by Pedro Pita Barros, the document highlights data gaps and supports equity, transparency, and community participation. It proposes four additional measures, including stronger coordination, modernization of user records, an operational guide, and immigrant community involvement in local health governance. Read the full contribution here.

Nova SBE in the NOVAID.RDM-CC Project – Competence Center for Research Data Management

We share the launch of the new LinkedIn page for the NOVAID.RDM-CC project, an initiative integrated into the PNCADAI – National Program for Open Science and Open Research Data by FCT, under the PRR (RE-C05-i08).

Nova SBE is participating as an institutional partner, actively contributing to:

  • The definition of the center’s services;
  • The identification of local needs in data management;
  • The promotion of data literacy within the school’s research community.

This center aims to support researchers at Universidade NOVA in adopting best practices for data management and sharing, promoting open science principles and ensuring compliance with funder requirements such as those from FCT and the European Commission. Follow and share the project’s new page here.

Nova SBE and NOVA Medical School Connect Talent and Industry at the 2nd Nutrition Shark Tank

The 2nd edition of the Nutrition Shark Tank challenged final-year Nutrition Science students to pitch innovative solutions to a panel of leading health sector executives. Inspired by the Shark Tank TV format and adapted to academia in collaboration with the Nova SBE Health Economics & Management Knowledge Center, the event aimed to bridge emerging talent with the job market, fostering entrepreneurship and the practical application of scientific knowledge. The event opened with a “Frontline Talk – The Future of Health” featuring Pedro Pita Barros.

Good to know

Leonor Rossi Appointed as Nova SBE Ombudsperson

Nova SBE has named Leonor Rossi as its new ombudsperson, reinforcing its commitment to a fair, inclusive, and transparent academic environment. A specialist in European Law, she will serve as a neutral, confidential resource to mediate conflicts and promote ethical conduct. This appointment supports Nova SBE’s broader Diversity, Equity, and Inclusion (DEI) efforts. Learn more on the updated Ombuds Office official SharePoint page.


Discover the new Nova SBE Newsletter Repository page

The newly created Nova SBE Newsletter Repository SharePoint page is designed to house institutional newsletters in a centralized page for easy access and reference. If you wish to create your newsletter based on institutional content sent to all Nova SBE target audiences, then visit this page regularly and stay connected with what's happening across the school.

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