2022
Autores
Mendes, RIL; Gomes, LMP; Ramos, PAG;
Publicação
SCIENTIFIC ANNALS OF ECONOMICS AND BUSINESS
Abstract
The magnitude of the subprime crisis effects caused recessions in several economies, giving rise to the global financial crisis. The scale of this major shock and the different recovery profiles of European economies motivated this paper. The main objective is to look for evidence of contagion between the North American financial market (S&P500) and the financial markets of Portugal (PSI20), Spain (IBEX35), Greece (ATHEX) and Italy (FTSEMIB), in the South of Europe, and the financial markets of Sweden (OMXS30), Denmark (OMX2C0), Finland (OMXH25) and Norway (OsloOBX), in the North of Europe. Considering the period from January 1, 2003 to December 31, 2013, the ARMA-GARCH models were estimated to remove the autoregressive and conditional heteroscedastic effects from the time series of the daily returns. Then, the copula models were used to estimate the dependence relationships between the European stock indexes and the North American stock index, from the pre -crisis subperiod to the crisis subperiod. The results indicate financial contagion of the subprime crisis for all analyzed European countries. The North European markets intensified the relations of financial integration (both in negative and positive shocks) with the North American market, apart from the Danish against the Portuguese. In addition to the contribution made by the joint application of the ARMA-GARCH models, the findings are useful to identify channels of financial contagion between markets and to warn about the effects of possible new crisis, which will require different levels of adaptation by the companies' financial managers and intervention by the authorities.
2022
Autores
Souza, MEB; Teixeira, JG; Pacheco, AP;
Publicação
Advances in Forest Fire Research 2022
Abstract
2022
Autores
Souza, MEB; Pacheco, AP; Teixeira, JG;
Publicação
Advances in Forest Fire Research 2022
Abstract
2022
Autores
Souza, MEB; Pacheco, AP; Teixeira, JG; Pereira, JMC;
Publicação
Advances in Forest Fire Research 2022
Abstract
2022
Autores
Teixeira, JG; Miguéis, V; Nóvoa, H; Falcão e Cunha, J;
Publicação
Research Handbook on Services Management
Abstract
[No abstract available]
2022
Autores
Martins, J; Parente, M; Amorim Lopes, M; Amaral, L; Figueira, G; Rocha, P; Amorim, P;
Publicação
IEEE TRANSACTIONS ON ENGINEERING MANAGEMENT
Abstract
Firms have available many forms of collaboration, including cooperatives or joint ventures, in this way leveraging their market power. Customers, however, are atomic agents with few mechanisms for collaborating, leading to an unbalanced buyer-supplier relationship and economic surpluses that shift to producers. Some group buying websites helped alleviate the problem by offering bulk discounts, but more advancements can be made with the emergence of technologies, such as the blockchain. In this article, we propose a customer-push e-marketplace built on top of Ethereum, where customers can aggregate their proposals, and suppliers try to outcompete each other in reverse auction bids to fulfil the order. Furthermore, smart contracts make it possible to automate many operational activities, such as payment escrows/release upon delivery confirmation, increasing the efficiency along the supply chain. The implementation of this network is expected to improve market efficiency by reducing transaction costs, time delays, and information asymmetry. Furthermore, concepts such as increased bargaining power and economies of scale, and their effects in buyer-supplier relationships, are also explored.
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