Carla Oliveira Henriques

Instituto Politécnico de Coimbra | IPC · Instituto de Contabilidade e Administração de Coimbra

This study evaluates the performance of United States (US) and European Exchange Traded Funds (ETFs) using the non-oriented version of the base point-slack-based measure (BP-SBM) Data Envelopment Analysis (DEA) model, which allows for handling negative data that can arise in some of the metrics traditionally used in this type of analysis. Our findi...

The European Union (EU) is taking steps to gradually reduce its reliance on fossil fuels, as well as to decarbonize the entire energy and automotive systems, with the goal of reaching carbon neutrality by 2050. As such, road transportation plays a fundamental role in this process. Internal combustion engine (ICE) vehicles are to be slowly decommiss...

This paper is aimed at presenting the Python implementation of the Value-Based Data Envelopment Analysis (VBDEA) method, which was designed to evaluate the efficiency of decision-making units (DMUs). This methodological framework explores the links between data envelopment analysis (DEA) and multi-criteria decision analysis (MCDA) and proposes a ne...

Portuguese programs aimed at fostering Energy Efficiency (EE) measures often rely on cost–benefit approaches only considering the use phase and neglecting other potential impacts generated. Therefore, this work suggests a novel methodological framework by combining Hybrid Input–Output Lifecycle Analysis (HIO-LCA) with the Portuguese seasonal method...

We assessed the execution of European Regional Development Funds (ERDF) allocated to promote a Low-carbon economy (LCE) in 23 EU Member States (MS). Each MS is evaluated using the Value-Based Data Envelopment Analysis (VBDEA) method. In the first stage, the efficient MS were identified, and the major reasons that might affect the efficient performa...

We employ a three-stage data envelopment analysis (DEA) model coupled with Stochastic Frontier Analysis (SFA) by using data made freely available by the European Commission, to evaluate the procedural efficiency of 51 OPs from 16 countries committed to fostering the adoption of Information and Communication Technologies (ICT) in small mid-sized ent...

We examine the main existing challenges that currently arise in the assessment of European Union (EU) funds devoted to three thematic objectives (TOs): Research and Innovation (R&I); Low-carbon economy (LCE); and Information and Communication Technologies (ICT). In this regard, a literature review on the European Regional Development Fund (ERDF) in...

This work is mainly aimed at evaluating the reasons behind the inefficient execution of Operational Programs (OPs) aimed at promoting research and innovation (R&I), especially in small and medium-sized enterprises (SMEs). To achieve this goal, we employed a three-stage slack-based measure (SBM) data envelopment analysis (DEA) model combined with St...

This open access book is the result of the 1st International Conference on Evaluating Challenges in the Implementation of EU Cohesion Policy (EvEUCoP 2022). It presents the recent findings, sparks discussion, and reveals new research paths addressing the use of novel methodologies and approaches to tackle the challenges and opportunities that are u...

We evaluated the execution of operational programs (OPs) targeted at increasing the adoption of information and communication technologies (ICT) in small and midsize enterprises (SMEs). As a result, we employed two different data envelopment analysis (DEA) models to evaluate 51 OPs from 16 countries, contemplating data provided to the European Unio...

We evaluated the implementation of European Regional Development Funds (ERDF) devoted to Thematic Objective (TO) 4 in 23 beneficiary European Union (EU) Member States (MS). The assessment of each country was made through the value-based data envelopment analysis (VBDEA) approach in three phases. In the first phase, it was possible to conclude that...

There are several programs in Portugal aimed at fostering Energy Efficiency (EE) that consist of funding certain EE measures, which are often selected mainly relying on cost-benefit approaches thus neglecting other potential benefits and impacts generated. In light of these facts and aiming at a broader assessment of the benefits of EE measures, th...

We assessed the implementation of operational programs (OPs) aimed at boosting the deployment of information and communication technologies (ICTs) in small and medium-sized enterprises (SMEs). We performed a three-stage slack-based measure (SBM) data envelopment analysis (DEA) model combined with the stochastic frontier analysis (SFA), which consid...

We evaluated the execution of the operational programs (OPs) committed to encouraging the adoption of information and communication technologies (ICTs) in small and medium-sized enterprises (SMEs). To achieve this goal, we employed a novel three-stage weighted Russel directional distance (WRDD) data envelopment analysis (DEA) model in conjunction w...

This paper uses Value-Based Data Envelopment Analysis (VBDEA), to assess the impact of the COVID-19 pandemic on the efficiency of 37 state-owned enterprises (SOE) hospitals by employing data publicly available from the Portuguese Health Service database between January and November 2019 and 2020, respectively. Furthermore, a productivity index (spe...

This paper proposes a two-step approach to build portfolio models. The first step employs the Data Envelopment Analysis (DEA) to select assets attaining efficient financial performance according to a set of indicators used as inputs and outputs. The second step builds interval multiobjective portfolio models to obtain the optimal composition of eff...

The European Regional Development Fund devoted around 66 billion Euros to the financial support of innovation and productivity in European enterprises over the 2014–2020 programming period. In this framework, we assessed the implementation of the Operational Programmes dedicated to fostering research and innovation, particularly in small and medium...

Funds from the European Union that are devoted to fostering a low-carbon economy are aimed at assisting Member States and regions in implementing the required investments in energy efficiency, renewable energy, and smart distribution electricity grids, and for research and innovation in these areas. In this context, we assessed the implementation o...

The Portuguese energy efficiency programs are usually run through grant awards that support energy efficient technologies, which require the establishment of rational investment plans considering distinct budget level inputs to each program. The current evaluation of energy efficiency programs mainly relies on the economic analysis of demand-side p...

For linear programming problems with fuzzy objective function coefficients, the necessarily optimal solution is known as the most reasonable solution. As it remains optimal against the certain fluctuations of objective function coefficients, the necessarily optimal solution can be seen as a robust optimal solution. In this paper, we demonstrate tha...

This paper combines Value-Based Data Envelopment Analysis with Economic Input-Output tables to assess the eco-efficiency of the production and supply chains of the Electricity Sector in the European Union 28. We incorporate the preferences of a hypothetical decision-maker, assuming a value function that is framed in prospect theory, but with the ze...

This paper proposes a novel Value-Based Data Envelopment Analysis model which specifically tackles non-discretionary data to assess the performance of 159 secondary schools from Ecuador by employing data from the Programme for International Student Assessment for Development. When contrasted with traditional Data Envelopment Analysis models, the Va...

The assessment of the efficiency performance of the electricity sector has been the focus of attention of several studies, but there is a lack of scientific literature specifically addressing the financial performance of electric utilities during the period mainly impacted by the financial turmoil in the world’s financial markets. Hence, this paper...

This article presents an assessment of the most suitable compressed air energy storage (CAES) reservoirs and facilities to better integrate renewable energy into the electricity grid. The novelty of this study resides in selecting the best CAES reservoir sites through the application of a multi-criteria decision aid (MCDA) tool, specifically the si...

Purpose: This paper aims to better understand if speculative activity is a factor or even the main factor in the run-up of oil prices in the spot market, particularly in the recent price bubble that occurred in the period of 2003-mid to 2008 period. Design/methodology/approach: The methodology used is based on an existing vector autoregressive mode...

This study assesses the performance of US and European Exchange Traded Funds (ETFs) using the non-oriented version of the base point - slack-based measure (BP-SBM) Data Envelopment Analysis (DEA) model, which allows handling negative data that can arise in some of the metrics traditionally employed in this sort of analysis.

Despite the relevance of noncognitive skills (i.e. soft skills) for individual development and for certain forms of employment, they tend to be overlooked in studies centred on educational performance. This study brings an additional contribution to the growing interest on these skills by exploring their main determinants and by providing an additi...

In order to comply with the European Union's energy and climate agenda to tackle climate change, Portugal has created several programs aimed at funding energy efficiency projects that are often selected greatly relying on a cost-benefit approach. These programs usually consider energy savings and emissions reduction during the operation phase, thus...

Purpose This paper aims to explore the trade-off between liquidity, risk and return under sectoral diversification across distinct economic settings and investment strategies. Design/methodology/approach A novel multi-objective portfolio model is proposed to assess investment decisions under sectoral diversification, where the objective functions...

We propose a novel approach to explore the trade‐offs between four features of students’ well‐being (anxiety, motivation, sense of belonging, and bullying). On the one hand, a multiobjective interval problem is formulated by considering these distinct components of well‐being as objective functions, being then instantiated with confidence intervals...

The increase in gross domestic product, employment, as well as the reduction of emissions are some of the multiple benefits associated with the adoption of energy efficiency measures. In this context and complying with the European Union (EU) policy against global warming and climate change, Portugal has deployed several energy efficiency programs....

The appraisal of job satisfaction and life satisfaction has been the focus of attention of work-family research. Despite being frequently regarded as a non-work variable, life satisfaction plays an important role in organizational behaviour and human resource management. Previous research has ascertained that workers’ life satisfaction is inherentl...

In order to find decisions in finance, regulations, politics including long term strategies for the electricity system and strategic planning on the industrial side, a holistic view on the overall energy system and markets is required at different levels of detail.

This paper is aimed at casting new light on the assessment of secondary schools’ performance in Portugal by considering data from the Programme for International Student Assessment 2015. We use the Weighted Russel Directional Distance approach and establish an equivalence model between this Data Envelopment Analysis model and the super-ideal point...

As the European Union wants to lead the clean energy transition, it has proposed ambitious targets for energy efficiency improvement. The target established for 2020 on energy efficiency of 20% will unlikely be achieved, and the goal for 2030 has increased to 32.5%. In order to guarantee the planned goals, governments need to strengthen their curre...

We propose a modelling framework which allows considering different priorities and individual expansion and contraction scales for distinct types of inputs and outputs, through the Weighted Russell Directional Distance Model (WRDDM). An equivalence model between the WRDDM and the super-ideal point model has also been established, which is then inco...

This paper explores the trade-offs between four different aspects of European workers’ life satisfaction (satisfaction with education, the present work, family life and social life), to reach balanced optimal levels across these features. This analysis was performed separately for different profiles of workers, i.e. full-time and part-time workers...

The European Union (EU) climate and energy policies have been introduced to ensure the delivery of ambitious targets designed to institute a low-carbon economy by 2050. In this context, binding legislation, regarding cleaner energy production through renewable energy deployment and energy efficiency improvements, was imposed. The achievement of the...

The funds dedicated to the cohesion policy are aimed at attaining the convergence of wealth levels across the European Union (EU) member states. These constitute the second-highest group of expenditures in the EU budget and thus their evaluation assumes a prominent role. Their assessment can be carried out through different tools and methodologies,...

This study is aimed at performing the eco-efficiency assessment of the electricity sector in 28 European Union countries. The novelty of our work resides in the combination of Data Envelopment Analysis with Input-Output analysis to perform the eco-efficiency evaluation of the consumption and production supply chains of the electricity sector. Accor...

In this paper, a specific type of multiobjective linear programming problem with interval objective function coefficients is studied. Usually, in such problems, it is not possible to obtain an optimal solution which optimizes simultaneously all objective functions in the interval multiobjective linear programming (IMOLP) problem, requiring the sele...

We combine the use of the Economic Input-Output Lifecycle assessment with multiobjective interval portfolio theory to arrive at two model formulations which can support public decision-makers on the design of programs to promote the investment on energy efficient technologies. The objective functions considered in each model are the maximization of...

The promotion of energy efficiency has been at the forefront of the energy policy agenda. New technological inventions and increasing environmental concerns related to contemporary energy policy are the main drivers of the adoption of more energy‐efficient appliances in domestic sector. Additionally, the mandatory star labeling program and incentiv...

Input-output (IO) analysis is a useful tool for the assessment of the inter-relations between different economic activities. Additionally, it can be combined with bottom-up data, i.e. energy-efficient technology-specific data, costs and cost structures, allowing to estimate the Economic-Energy-Environmental (E3) impacts intertwined with the investm...

This paper is aimed at presenting a multiobjective interval portfolio framework which considers investment decisions under different risk assumptions. New surrogate problems are obtained for the mean-absolute deviation risk measure based on the concept of necessary subtraction between interval numbers. A proposal for obtaining the efficient portfol...

The assessment of the efficiency performance of the electricity sector has been the focus of attention of several studies, but there is a lack of scientific literature specifically addressing the financial performance of electric utilities. Hence, this paper is aimed at assessing the financial performance of regulated companies operating in the Por...

The need for greater concern about job quality/satisfaction seems clear, due to its potential link with workers’ productivity, to the extent it affects employees’ quitting behavior, absenteeism, turnover, and firms’ productivity. In order to guide managers and policy makers when making decisions related to future hiring of human resources, a multio...

Until recently, electricity power generation has been the focus of attention of efficiency performance assessment in a prolific number of studies. However, because of its specific characteristics, the efficiency performance of renewable power generation requires special attention. We propose a modelling framework specifically designed and combined...

Energy planning in many developing Asian countries has neglected the structure of energy demand and how it is likely to evolve as development takes its path. The limited availability of energy consumption data makes it very difficult to assess the energy savings potential at end-use level. Energy planning requires the formulation of a proper modell...

A two-part methodological approach to support public decision-makers in the selection of several energy efficient technologies in India’s residential sector. A new approach for obtaining the EPBT/GPBT for energy efficient technologies was herein suggested based on the EIO-LCA approach. This modelling structure has been used for the assessment of th...

This paper is aimed at suggesting a methodological approach to assess the investment decisions under sectoral diversification, considering distinct economic settings, i.e. pre-crisis, crisis and recovering periods. The usefulness of the proposed approach is illustrated by considering data from a set of stocks from Euronext and FTSE100 markets trade...

Input-Output (IO) analysis is a useful tool for the assessment of the inter-relations between different economic activities. Additionally, it can be combined with bottom-up data, i.e. energy efficient technology-specific data, costs and cost structures, allowing to estimate the Economic-Energy-Environmental (E3) impacts intertwined with the investm...

The conventional transportation problem usually involves the transportation of goods from several supply points to different demand points and considers the minimization of the total transportation costs. The transportation problem is a special case of linear programming models, following a particular mathematical structure, which has a wide range...

Addressing the impacts of energy efficient lighting systems in the industrial sector from a multidimensional perspective requires the formulation of a proper modelling framework. Input-Output (IO) models can be particularly suitable, since they can be adjusted to embed economic, social and environmental impacts that can be consistent with different...

A multiobjective optimization model with interval coefficients based on portfolio theory has been formulated to support public bodies with the selection of the industrial lighting efficient portfolios to be subsidized. The objective functions considered are the maximization of the return measured as the savings to investment ratio per unit invested...

Traditionally, energy planning in developing Asian countries has neglected the structure of energy demand and how it is likely to evolve as development takes its path. Additionally, the lack of concern with the conservation of energy and the limited availability of energy consumption data have made it very difficult to assess in a reasonable manner...

Input – Output (IO) models can be particularly suitable for assessing the impacts of energy efficient lighting systems in the industrial sector from a multidimensional perspective. This modelling framework can be adjusted to encompass economic, social and environmental impacts that can be consistent with different energy policy recommendations. Thi...

India is a large developing country facing rapid economic growth, resulting in higher living standards accompanied by a consistent increase of the purchase of electric appliances. The government star labelling program is aimed at motivating the consumers to adopt energy efficient appliances and thus contributing to the reduction of energy consumpti...

This study is aimed at designing an I-O modelling framework for assessing several energy efficiency measures/energy efficient technologies in India’s residential sector, which assists planners and energy decision-makers of India on the appraisal of the future impacts of the current national energy saving targets and thus help to shaping future ener...

The conventional transportation problem usually involves the transportation of goods from several supply points to different demand points and considers the minimization of the total transportation costs. The transportation problem is a special case of linear programming models, following a particular mathematical structure, which has a wide range...

A two-part methodological approach for supporting public investors with the selection of several energy efficient lighting technologies in the industrial sector has been developed. First, we develop an economic Input-Output Lifecycle Assessment modelling framework for the assessment of the energy payback-time of each technology. Then, a multiobject...

Energy efficient lighting reduces the demand for electricity and its corresponding environmental impacts. In fact, lighting can represent a significant portion of energy and electricity consumption in public facilities. On the other hand, energy is the largest cost in owning and operating a typical lighting system. Finally, besides energy savings,...

This study is aimed at identifying and assessing distinct energy efficiency measures that can be implemented in residential buildings, taking into account different areas of intervention and multiple aspects of evaluation (technical, economic, environmental and social). The assessment of the different identified measures will be performed through t...

Energy appliances growing penetration in developing countries, as in India’s residential sector, is one of the main causes to the current energy demand increase. The residential sector is the second electricity consuming sector to industry with about 26% of the total electricity demand in 2011-2012. Within the residential sector appliances and equi...

Our paper aims at contrasting the use of two alternative approaches usually used for the assessment of the environmental implications of electricity generation: Economic Input-Output Life-Cycle Assessment (EIO-LCA) and Process-based Life Cycle Assessment (P-LCA). EIO-LCA is a top-down approach intertwined with the environmental satellite accounts p...

Appliances account for 35 to 40% of total energy consumption in the residential sector. In developing countries such as India, the number of appliances is expected to increase in the future because of the anticipated improvement of per capita disposable income and the population growth. This paper is aimed at contrasting the technical energy saving...

Energy sustainable strategies in Europe advocate increasing the share of electricity generated from renewable energy sources (RES-E) in response to the need of reducing Green House Gas (GHG) emissions. RES-E production is considered to have a prominent role in the crusade against climate change and in Europe’s energy security. Renewable energy tech...

An interactive method devoted to multi-objective linear programming (MOLP) models is used to assess the trade-offs between economic, energy and environmental (E3) objectives in the Brazilian economic system. The MOLP model is based on a hybrid Input-Output (IO) framework, with monetary (R$) and physical (tons of oil equivalent) units, developed fro...

The energy sector has been a fertile ground for the application of operational research (OR) models and methods (Antunes and Martins, OR Models for Energy Policy, Planning and Management, Annals of Operational Research, vols. 120/121, 2003). Even though different concerns have been present in OR models to assess the merit of potential solutions for...

This paper develops a bottom-up approach in the scope of a multi-objective linear programming model (MOLP) based on Input-Output (I-O) analysis to account for investment options aimed at improving the thermal properties of building envelope (e.g., the insulation of external walls and roof, and the replacement of window frames and window glazing)....

In response to the need of reducing Green House Gas (GHG) emissions, energy strategies in Europe advocate increasing the share of electricity generated from renewable energy sources (RES-E). RES-E production is considered to be a priority in the crusade against climate change, with a crucial role in Europe’s energy security. Several studies even su...

A multi-objective linear programming (MOLP) model based on a hybrid Input-Output (IO) framework is presented. This model aims at assessing the trade-offs between economic, energy, environmental (E3) and social objectives in the Brazilian economic system. This combination of multiobjective models with Input-Output Analysis (IOA) plays a supplementar...

The study of the interactions between the economy (at national, global and local levels), the energy sector and the corresponding impacts on the environment inherently involves multiple axes of evaluation of distinct policies. Input-output (IO) analysis offers a consistent framework for developing multiobjective models for assessing the trade-offs...

In response to the need of reducing CO2 emissions, the European Union has set itself ambitious targets to increase the share of electricity generated from renewable energy sources (RES-E). Therefore, the promotion of the deployment of renewable energy technologies has come to form a crucial part of governments’ strategies to prevent climate change....

Interval programming techniques are a valuable approach for tackling uncertainty in mathematical programming models, because they only require the knowledge of the feasible range of variation of the model coefficients. Nevertheless, the use of these techniques has some limitations, namely when the number of decision variables with interval coeffici...

The purpose of this paper is to provide an integrated methodology which follows different stages and connects top-down and bottom-up approaches, such as Input-Output (I-O) multipliers, traditional capital budgeting assessment tools and Multicriteria Decision Analysis to facilitate the combined evaluation of different energy efficiency renovation pr...