Mara Madaleno

University of Aveiro | UA · GOVCOPP and DEGEIT

Timor-Leste is a new country still in the process of economic development and does not yet have a capital market for stock and bond investments. These two asset classes have been invested in international capital markets such as the US, the UK, Japan, and Europe. We examine the performance of the capital asset pricing model (CAPM) and the Fama–Fren...

Renewable energy is an essential driver of the energy transition towards a more sustainable world. However, sustainability requires the coordination of the economic, environmental, and social dimensions, turning it into a complex objective. The aim of this study is to review the state of the art of the articles that analyze economic, environmental,...

In recent years, the escalating trade activities (imports and exports) have spurred a growing body of research on their linkages with economic progress and sustainability. However, the impacts of imports and export diversification on sustainable economic growth have been rarely explored. This paper aims to fill this gap by exploring the role of imp...

We analyze the existent literature relating to gender diversity and sustainability reporting (SR) practices. The SCOPUS bibliographic database was used, and 49 documents were included in the analysis. The first document was published in 2011 and the most recent in 2023. Using the search criteria and analysis, policy implications have been highlight...

The perceived poor performance of publicly traded companies on their sustainability commitments and the quality of sustainability reporting has prompted stakeholders to consider the economic, environmental, and social impacts of corporate activities. Economic activities have led to various threats in the form of climate change, pollution, greenhous...

In recent decades, the wage gap between higher- and lower-skilled workers has steadily widened around the world, and this gap is widening. There are several approaches in the literature to understand the causes of this steady increase, with Skill-Biased Technological Change (SBTC) being the most used and the results more consistent. This paper aims...

The purpose of this study is to examine the ability of financial literacy, financial innovation, and financial inclusion to mitigate the adverse effect of corruption on banks’ credit risk, profitability, and financial stability, with this joint inclusion being the novelty explored. Furthermore, we aim to compare the results across four different gr...

Maximum entropy in the estimation of parameters in stochastic production frontier models could be an attractive procedure in economic efficiency analysis. In this work, the generalized maximum entropy and the generalized cross entropy estimators are reviewed and their implementation in the stochastic frontier analysis is discussed. An application t...

This chapter intends to define Stochastic Frontier Models (SFA) and their applications for Eco-Efficiency (EE) assessment within environmental and economic fields. We start by presenting the methodology of efficiency assessment, discussing its advantages and disadvantages as compared to the more traditional Data Envelopment Analysis (DEA). A litera...

Air pollution is one of the most challenging environmental issues influencing the lifestyles of the world’s population. Every year millions of respiratory diseases and premature deaths are directly attributed to it. Therefore, people who suffer from respiratory diseases are more vulnerable to varia tions in air quality, as direct exposure leads to...

Portuguese territories' distribution of wealth and people with higher qualifications appears to be related. On the one hand, more concentrated in certain municipalities, and on the other hand, each time more unbalanced between municipalities. The Portuguese population with higher qualifications tends to be more concentrated close to big cities and...

This study aims to analyze the impact of women's presence on the board of directors on the outcomes of Spanish and Portuguese-listed firms over the third millennium. Based on a documental analysis of 44 publications, it is concluded that female directors positively affect the quality and transparency of the firm's reporting and compliance with the...

Achieving gender equality and women's empowerment is integral to each of the 17 sustainable development goals (SDGs). Notwithstanding that, goal five is fully applied to gender equality. In this chapter, the authors attempt to collate and understand the disjointed research on female management around the world, reviewing the literature at the macro...

Due to the growing awareness concerning environmental problems, specifically air pollution, it is crucial to understand the relationship between perceptions of air quality and the pro-environmental behaviors of visitors. This study segments visitors based on self-reported pro-environmental behaviors. A survey was carried out in Portugal (N=602). Th...

Of the various approaches that, over the last few decades, have sought explanations for the constant increase in the wage gap between more and less skilled workers, the Skill-Biased Technological Change (SBTC) approach has been the most used and the one that has led to the most consistent results. The objective of this study is to assess whether th...

This paper aims to analyze the efficiency of the funds in technological, healthcare, and consumer cyclical sectors based on the U.S. News & World Report rankings. We employed a Principal Component Analysis to select the indicators to explain efficiency. Then, we have used an alternative approach that combines Data Envelopment Analysis (DEA) with Mu...

Using energy efficiently is crucial for economic development and sustainability. However, excessive use of fossil fuels impedes sustainable economic growth, and the released emissions have a negative impact on the environment. Still, there is no consensus in the literature as to the side effects or even regarding the determinants used to assess thi...

Purpose This study aims to examine the impact of financial inclusion and financial innovation on corruption, considering the moderating role of education, as well as identify the specific modality of digital inclusion and payments that contribute to corruption reduction. Design/methodology/approach The study uses a representative sample consisting...

The connection between Earth’s global temperature and carbon dioxide (CO2) emissions is one of the highest challenges in climate change science since there is some controversy about the real impact of CO2 emissions on the increase of global temperature. This work contributes to the existing literature by analyzing the relationship between CO2 emiss...

The objective of this study is to contribute to the knowledge about the relationship between financial inclusion and credit risk in the Southern African Development Community ( SADC ) countries, which remains relatively unexplored in the developing countries context. The result of panel vector autoregressive models ( PVAR ) estimation shows that th...

The scientific literature and decision makers debate and explore education's influence on regional development. However, differences among EU regions remain to be explained. The present article proposes to measure these disparites in terms of the gross domestic product (GDP) per capita and understand how tertiary education can explain that performa...

Considering the growing importance of sustainable investments worldwide, we explore the volatility transmission effects between the EURO STOXX Sustainability Index and the stock market indexes of its stocks. Using daily index return data, during 2000–2022, covering the COVID-19 pandemic, Multivariate Generalized Auto-Regressive Conditional Heterosk...

Innovative educational methods such as gamification are gaining ground in more formal environments and have great potential to improve learning in education. However, the implementation of this strategy in the classroom is assumed to be a complex practice for beginners and requires the development of new competencies by educators. This chapter aims...

Assessing tourism destination attractiveness is a dynamic procedure influenced by constantly changing factors. Despite the existence of various studies on destination attractiveness, less attention has been devoted to measuring the relevance of air quality. The growing concerns related to the impacts of air pollution worldwide, make it imperative t...

The adjustment of services of general interest to ageing and shrinking populations is a significant challenge in many European regions. This article analyses the response in the number of primary schools to changes in the student population in the municipalities of mainland Portugal between 2007 and 2016. It focuses on the time lag of this adjustme...

The G7 countries consist of some of the world's most developed nations which have economically flourished over the years. However, alongside such robust economic performances, the environmental qualities in these countries have rather aggravated to raise deep concerns among the stakeholders. Hence, this study is designed to empirically examine the...

This paper aims to develop a model for predicting corporate bankruptcy for SMEs in the Portuguese manufacturing industry where this question remains rather unaddressed. Using profitability, activity, liquidity, leverage, and solvency ratios, it was added the size and age variables, for a group of 208 firms, including 49 bankrupt firms and 159 activ...

Although a few studies have analyzed the nexus of renewable energy and green finance, the literature lacks the use of renewable energy by sources. The other major failure is that it uses only annual and small data. Therefore, this study investigates the connectedness and spillovers relationship between green finance and five types of renewable ener...

Gender diversity in management has become of increased interest to academics and researchers in the last decades since women and men have different personal and psychological characteristics that affect their decision-making process in management actions and leadership. A female presence has been under-represented on companies’ boards of directors,...

Environmental sustainability is an increasing concern in the present era, particularly in the tourism field, which is known as an industry with severe environmental impacts. Thus, raising awareness concerning the importance of adopting pro-environmental behaviors is mandatory to achieve truly sustainable development of the tourism sector. This stud...

The population pyramid of the Portuguese population reveals an aged population as a consequence of low fertility rates and the growing life expectancy. In this scenario, some municipalities tend to create conditions and give incentives to attract the young population, or otherwise, even more, primary schools should be closed. The dynamic relation b...

O desenvolvimento acelerado das tecnologias de informação e comunicação tem vindo a impor na agenda técnico científica o debate sobre a “forma” e o “conteúdo” do planeamento do território na sociedade contemporânea, reclamando alguns autores a necessidade de revisitar conceitos, princípios e definições clássicas do planeamento (Marques et al.,...

Education, financial knowledge, and energy literacy are seen as powerful tools that empower citizens and help them make informed decisions. Considering that both education and financial knowledge are often associated with better levels of energy literacy, we consider it important to check if there are common determinants between these three variabl...

In a high tax burden environment related to electricity prices in Portugal, it is needed to establish fiscal and economic-political measures to lower the electrical price weight imposed on both households and non-households. The most effective way is to first be aware of its determinants. This paper contributes to the existent literature by analyzi...

The energy stock market is characterized by high returns and strong volatility, and little is known about possible interactions between these companies in the literature. We studied the time series of 18 European energy companies’ daily stock prices during 2008–2018, including oil and natural gas prices. To analyze the relationship between the comp...

Over the past three decades, researchers have extensively examined the environmental Kuznets curve (EKC) hypothesis. Despite their early focus on the ecological impacts of anthropogenic development, associated conclusions differ and often conflict. In this study, we conducted a state-of-the-art review of this topic and shed light on the methodologi...

Using a unique or common measure of energy poverty is very limited for the true clas�sifcation of a household being in energy poverty. Thus, this study proposes a compos�ite indicator, whose weights will be determined from the estimation of two relationships using a robust and stable methodology based on information theory. This work considers two...

It is important to unearth the role of structural change factors for sustainable growth in developed economies. Economic complexity, export product quality, and institutional indicators represent the overall structural change and transformation in an economy. This paper probed the influence of export product quality and economics of complexity on e...

Purpose-This study examines the relationship between internal corporate governance mechanisms and firm risk-taking. Design/methodology/approach-This research comprises a sample of 38 non-financial Portuguese firms listed on Euronext Lisbon, over the period from 2007 to 2017. To test the formulated hypotheses we use panel-corrected standard errors (...

The literature has mainly relied on an annual and short span of data to analyze the relationship between energy, environmental and financial indicators. This study analyzes the relationship between energy efficiency, energy research, pollution mitigation, and FinTech by applying two novel methods-the causality test in the frequency domain [11] and...

Financial inclusion is a widely used measure to improve the living standards of households and foster inclusive economic growth. Thus, financial inclusion is one of the main policy objectives in developing countries. Besides, financial regulation (capital adequacy requirement) is a policy measure used to ensure financial stability. The objective of...

The forensic accountant profession has been highly established around the world due to world-renowned financial scams that occurred from Malaysian to Europe and leading to closures and to failures like Adelphia and many more. Forensic accounting techniques are a consortium of investigation and interrogation attempts by corrupt financial gurus. The...

This chapter intends to contribute to the analysis of forensic accounting (FA) techniques through a bibliometric review of the existent literature in order to understand the current state of FA research as well as to contribute to the analysis of the influence of FA on corporate governance. Although FA is a modern discipline, in recent years its re...

The financial community has undergone a realization of the failure of corporate communication required for forensic professionals to expose structural weaknesses within businesses. Many organizations and businesses within the financial community have flawed internal controls, poor corporate governance, and fraudulent financial statements. It is vit...

This study aims to assess the effect of financial inclusion and competitiveness on banks’ financial stability, considering the moderating role of financial regulation. To do so, we compare the effects of these variables in Sub-Saharan African (SSA) and Latin American and Caribbean (LAC) countries. Our results suggest that inclusion enhances bank st...

Even though energy poverty has been widely discussed in many countries, only a few studies attempt to understand the nexus of race and energy poverty. To fill the gap in the literature, this study analyses the effect of race on energy poverty by employing the U.S. representative household panel data with 9043 complete surveys. This research address...

The literature lacks enough evidence on the nexus of green finance and clean energy although the terms ‘green’ and ‘clean’ have been eminent concepts in sustainable development. Therefore, the fundamental objective of this study is to carry out the causal relationship among green finance, clean energy, environmental responsibility, and green techno...

According to the definition that the European Commission (2001) offered us, corporate social responsibility is a set of measures that an organization can adapt, to improve the well-being of its stakeholders and promote the balance of economic, social, and environmental performance. The stakeholder theory clarifies that this decision-making must tak...

This work aims to investigate a relationship between economic and environmental drivers under the economic diversification condition including seven economic activity sectors for a set of nine OPEC countries during 1974–2016. For validating the two Environmental Kuznets Curve – EKC – equations proposed, a panel data analysis was followed through th...

This work aims to investigate a relationship between economic and environmental drivers under the economic diversification condition including seven economic activity sectors for a set of nine OPEC countries during 1974–2016. For validating the two Environmental Kuznets Curve – EKC – equations proposed, a panel data analysis was followed through th...

The present study intends to explore the relationship between tourism growth and air pollution at a regional level for five important tourism European destinations: France, Spain, Greece, Portugal, and Italy. Most of the studies found in the literature examine this relationship on a national scale and focus only on the CO2 pollutant, which is a gre...

This chapter intends to contribute to the analysis of gender diversity and financial risk through a bibliometric review of the existent literature to understand the current state of financial risk research as well as to contribute to the analysis of the influence of gender diversity on financial risk. Although there is extensive research on financi...

This research aims to scan financial literacy in Mozambique, assessing its levels and identifying the sociodemographic factors that influence it, generalizing to the developing countries. Quantitative research was performed using a survey database of 3,875 respondents collected in Mozambique. Our results document that more than 61% of the responden...

This chapter aims to fill the knowledge gap regarding the relationship between tourism and air quality, specifically in the Portuguese tourism industry, with a focus on tourist nationality. It examines whether this relationship differs according to tourist origin. This study uses an air pollutant, PM10, with a strong impact on human health that has...

Earnings management and corporate governance relationships are examined for a sample of 49 Portuguese listed firms considering an unbalanced panel for the period 2002-2017, using panel corrected standard errors models and considering the family ownership effect. Empirical findings reveal that there is a positive relationship between corporate board...

Economic agents need to adequately control, and measure potential financial losses associated with commodity price swings in the futures market. One of the ways to anticipate possible price swings is to measure Value-at-Risk (VaR). In its parametric form, the VaR calculation uses the volatility of a financial asset as a parameter to measure risk. V...

In Portugal, fires have originated a big debate not only because of the environmental damages they cause but also because of the material damages they provoke to families and companies. This way, it is important to understand how these events impact companies' cash holdings, not because of the direct damages caused by them, but because of managers'...

ABSTRACT Concerning the last census 2021 in Portugal preliminary results, we observed, and have been an aim of several political and social discussions, on one hand, the loss of population in some territories, and on other hand, the rise in the population and attractivity in other cities and territories. The study of migrations among territories i...

Energy literacy is seen as one of the most powerful tools, available to ordinary people, to contribute to a more sustainable world. Since women tend to be considered the main caregivers, due to their maternal instinct, being generally more attentive, more altruistic, and more concerned with the future of their children, are women more involved in t...

Even though poverty is highly felt in developing economies, the lack of relevant and complete micro-level data limits understanding which households are more exposed to poverty and the role of financial inclusion in poverty in these countries. This research analyzes the effects of financial inclusion proxied by a multidimensional index on three pov...

Financial inclusion has allowed financial products with very high-interest rates and complex conditions to become increasingly affordable. Financial inclusion programs, which aim to reach all social strata, strongly expose financial institutions to risk and particularly credit risk. That said, additional interventions such as financial education of...

Este manual apresenta e clarifica conceitos e procedimentos relevantes no âmbito da avaliação de empresas, questão muitas vezes fundamental para a tomada de decisão. Para além dos métodos e técnicas tradicionais de avaliação, apresenta, numa abordagem distinta e inovadora conhecimento útil e atual sobre avaliação empresarial em vários contextos e r...

This work aims to investigate a relationship between economic and environmental drivers under the economic diversification condition including seven economic activity sectors for a set of nine OPEC countries during 1974-2016. For validating the two Environmental Kuznets Curve –EKC- equations proposed, a panel data analysis was followed through the...

The Nordic countries are well positioned in the main international economic, social, and sustainability indices, and the scientific literature that supports these indices argues that a rise in these rankings promotes economic growth. With this unprecedented empirical study, we intended to assess whether, in the case of the Nordic countries, the lon...

Air quality is a topic with growing interest within the tourism industry, especially for destinations with a high volume of tourism. Several implications on tourism demand are already recognised, such as influence on health and well-being, travel behaviour and trip satisfaction. However, there is a knowledge gap concerning its influence on tourism...

Economics and business are a great background for data science provided econometricians and data scientists are sets with an intersection, although remaining unknown. In econometrics, data mining is somewhat a monstrous word, a field that traditionally seeks causal inference and results in interpretability. When we go deeper into what data science...

Despite the growing influence of air pollution on people’s behaviour, little attention has been given to visitors’ behavioural intentions towards air pollution episodes. Understanding visitors’ behaviours is crucial in developing effective marketing strategies and preventing damaging consequences for both visitors and destinations. This paper prese...

The Nordic countries are practically always well positioned in the main international economic, social and sustainability indices and recommending the scientific literature that the variables that these indices intend to measure translate into sustainable economic growth, with this unprecedented empirical study we intend to verify through the ARDL...

Monetary policy ensures the financial system stabilization. Financial inclusion, characterized by the access and use of available financial services (credit, savings, payments, insurance at a low cost), by a broader population, may explain the effectiveness of the monetary policy, especially in developing countries. The objective of this study is t...

Every year, news about the publication of rankings and scores of important international indexes are highlighted, with some of the most prestigious being the Global Competitiveness Index (GCI), the Human Development Index (HDI), the Ease of Doing Business (EDB), the Environmental Performance Index (EPI) and the Global Entrepreneurship (GEI). A coun...

Using a sample of 47 Portuguese and Spanish firms for the period 2010 to 2017, the authors study the relationship between female presence on board and firm's accounting (ROA and ROE) and market-based (MTB and Tobin's Q) performance. They find that women on the board of directors is positively related to firm's performance, as well as the gender of...

The search for answers as to the determinants that most influence countries`competitiveness has been a constant concern of economists especially in the last years. As competitiveness impacts economic growth, which in turn allows providing high levels of prosperity to citizens, it turns the topic hotter and more current. Competitive economies provid...