Liquidity and Dividend Policy

We document the association between a firm's payout policy and its stock's liquidity. In particular, we show that dividend-paying firms have a more liquid market for their stock and measures of a stock's liquidity is positively linked to its probability of being a dividend payer. Furthermore, this link between dividends and liquidity is stronger when shareholders are more powerful. This is consistent with a mechanism in which payout decisions act as a commitment not to invest: by distributing cash, the firm reduces its potential for internal equity financing, raising its cost of capital and leading to less investment. Such a mechanism may lead to less volatile stock prices and potentially to a decrease in the adverse selection costs faced by liquidity-constrained shareholders, increasing stock price liquidity. When shareholders have more power, liquidity would be more strongly linked with dividends as managers would be more likely to pay dividends to meet shareholders�preference for liquidity.Liquidity; Dividend Payers; Adverse Selection Costs; Corporate Governance; Shareholder Power; Informed Trading

A utilização de fóruns de discussão em contextos de aprendizagem: uma abordagem às relações entre intervenientes

p. 21-29A crescente utilização das TIC e a sua influência no modo como se entende o processo educativo, tem estado na origem de diferentes propostas e redefinições sucessivas em torno de conceitos que se enquadram na temática da educação à distância. Sentimos, pois, a necessidade de discutir e explorar alguns desses conceitos articulando-os com a nossa experiência de utilização de fóruns de discussão. Este trabalho constitui uma reflexão, aliada a um levantamento de questões, sobre a utilização de uma plataforma de educação à distância (concretamente, o Teleduc) e, mais especificamente, sobre os fóruns de discussão utilizados pedagogicamente como complemento à aula presencial. De uma primeira abordagem a este estudo resultaram algumas questões: Que conteúdos são partilhados? Que tipo de interacções existem? Que variáveis afectam a utilização de fóruns de discussão como ferramenta para o desenvolvimento de determinadas actividades? Com base nos dados obtidos, no âmbito de três fóruns partilhados num Complemento de Formação da Escola Superior de Educação de Paula Frassinetti por alunos e professores, foi feita uma caracterização de cada um dos fóruns, tendo em conta os seguintes itens: intervenientes, duração, objectivos e forma como foram integrados nas actividades de sala, estratégias de utilização e temas. A análise das intervenções dos participantes teve como objectivo tentar perceber diferenças existentes entre os fóruns em termos de participação e interacção. Com este texto, pretendemos partilhar os resultados deste estudo

O papel da orientação para o mercado no desempenho das empresas sociais

Market orientation has been presented as an important predictor of business performance. However, it is presumed to contribute to long-term success, both in commercial and nonprofit enterprises. Similarly, entrepreneurship orientation is a concept that has been widely applied to business firms but has not been empirically tested in social enterprises. Moreover, the literature does not present a widely accepted and tested conceptual model relating entrepreneurship orientation, market orientation and performance, in the realm of social enterprises. In order to fill this gap, this research assesses how these strategic orientations affect social and economic performance in the setting of social enterprises. Structural equation modelling was used as a means to analyze the hypothesized relationships. After testing the model on a sample of 805 Portuguese social enterprises, the findings show that both social entrepreneurship and market orientations significantly impact social performance. The results also indicate that market orientation mediates the effect of entrepreneurial orientation on the performance of social enterprises.A Orientação para o Mercado é um preditor importante do desempenho das empresas. No entanto, presume-se que contribua para o sucesso a longo prazo, tanto das empresas comerciais como das sem fins lucrativos. Igualmente, a orientação para o empreendedorismo é um conceito que tem sido amplamente aplicado às empresas, mas não tem sido empiricamente testado em empresas sociais. Mais a mais, a literatura não apresenta um modelo conceptual amplamente aceite e testado relacionando a orientação para o empreendedorismo, a orientação para o mercado e a performance, na realidade das empresas sociais. A fim de preencher esta lacuna, esta investigação avalia como essas orientações estratégicas afetam o desempenho social e económico no contexto das empresas sociais. A modelagem de equações estruturais foi utilizada como meio de analisar as relações que servem de base às hipóteses propostas. Depois de testar o modelo numa amostra de 805 empresas sociais portuguesas, os resultados mostram que ambas, a orientação para o empreendedorismo e para o mercado, afetam significativamente o desempenho das empresas sociais. Os resultados também indicam que a orientação para o mercado medeia o efeito da orientação empreendedora no desempenho das empresas sociais.Programa Doutoral em Marketing e Estratégi

Supervisão colaborativa e desenvolvimento profissional em enfermagem

Enquadramento: A supervisão colaborativa fundamenta a permanente transformação das práticas profissionais, numa perspetiva coformativa e desenvolvimentista. Objetivo: Este estudo visa compreender as conceções dos enfermeiros sobre a supervisão colaborativa e o desenvolvimento profissional na prática de cuidados. Metodologia: Estudo empírico qualitativo, este estudo de caso integra a equipa de Enfermagem de um serviço de Medicina Interna num Centro Hospitalar da região Norte de Portugal (N = 29). Os dados foram obtidos através de análise documental, observação não participante e entrevista semiestruturada. Resultados: Os participantes consideram que colaborar é partilhar, trabalhar em equipa e ajudar o outro, existindo privilegiados momentos colaborativos na prática de cuidados. A supervisão surge como uma realidade ainda distanciada da prática e os enfermeiros tendem a uma visão verticalizada do processo supervisivo. Como contributos para o desenvolvimento profissional, os enfermeiros salientam a formação contínua, a colaboração e a inter-relação da pessoa, do meio e dos outros. Conclusão: Apesar da espontaneidade e informalidade da supervisão e da colaboração, estas práticas encontram-se intimamente relacionadas com o contínuo desenvolvimento profissional em Enfermagem.Background: Collaborative supervision explains the permanent transformation of professional practices from a coformative and developmental perspective. Objective: This study aims to identify the nurses’ conceptions of collaborative supervision and professional development in nursing care practice. Methodology: A qualitative empirical case study, including the Nursing team of an Internal Medicine unit of a Hospital Centre in Northern Portugal (N = 29). Data were obtained through document analysis, non-participant observation and semi-structured interviews. Results: Participants consider that collaborating means sharing, working in a team and helping the other, and that there are privileged collaborative moments in nursing care practice. Supervision emerges as a reality still apart from practice, and nurses tend to consider the supervisory process from a vertical perspective. As contributions to their professional development, nurses emphasise lifelong training, collaboration and the relationship between the person, the environment and the others. Conclusion: Despite the spontaneity and informality of both supervision and collaboration, these practices are closely related to the continuing professional development in nursing.Marco contextual: Supervisión colaborativa sustenta una transformación permanente de las prácticas profesionales, en una perspectiva co-formativa y de desarrollo. Objetivo: Este estudio tiene como objetivo comprender concepciones de los enfermeros acerca de supervisión colaborativa y el desarrollo profesional en la práctica asistencial. Metodología: El estudio empírico cualitativo, específicamente un estudio de caso, incluye la participación de un equipo de Enfermería de un servicio de medicina interna de un hospital de la región Norte de Portugal (N = 29). Los datos fueron obtenidos a través de análisis documental, observación no participante y entrevista semiestructurada. Resultados: Los participantes consideran que colaborar es compartir, trabajar en equipo o ayudar a los demás, existente momentos privilegiados de colaboración en la práctica asistencial. Supervisión emerge como una realidad aún lejana de la práctica y los enfermeros tienden a una visión vertical del proceso de supervisión. Como contribuciones para el desarrollo profesional, los enfermeros enfatizan la formación continua, la colaboración y la interrelación entre la persona, el medio ambiente y otros. Conclusión: Aunque de la espontaneidad e informalidad de la supervisión y colaboración, estas prácticas están estrechamente relacionadas con el desarrollo profesional continuo en la Enfermería

O USO DO CELULAR EM TEMPOS DE PANDEMIA - UMA ANÁLISE DA NOMOFOBIA ENTRE OS JOVENS

The 21st century configures several social, cultural, and technological changes, bringing new possibilities of learning and interaction. But, at the same time new uncertainties, habits, dependencies and consequently the emergence of phobias, such nomophobia. Considering this, this paper sought to debate nomophobia, which mainly affects young people of school age, and its consequences on the mental health and learning, and the dilemmas of the use of media and technologies, especially in the current scenario of the Covid-19 pandemic. In the meantime, it is an explanatory qualitative study, consisting of bibliographic and field research with the application of a questionnaire by Google Forms, via WhatsApp, in students of Basic Education and Higher Education in the north of the state of Rio Grande do Sul.O século XXI configura diversas mudanças sociais, culturais e tecnológicas, trazendo novas possibilidades de aprendizagem e interação, mas, ao mesmo tempo, novas incertezas, hábitos, dependências e por consequência, o surgimento de fobias, como a nomofobia. Diante disso, este trabalho buscou debater sobre a nomofobia, que afeta principalmente jovens em idade escolar, suas consequências na saúde mental e na aprendizagem, e os dilemas do uso das mídias e tecnologias, especialmente no atual cenário da pandemia de Covid-19. Nesse ínterim, trata-se de estudo de cunho qualitativo explicativo, constituído por pesquisa bibliográfica e de campo, com a aplicação de questionário pelo Google Forms, via WhastApp, com estudantes da Educação Básica e do Ensino Superior do norte do estado do Rio Grande do Sul

Idiosyncratic psychological aspects in entrepreneurship

Entrepreneurship is having the courage to transform an idea in reality and with it achieve personal, nancial and recognition satisfaction. The psychological ability to handle failure has proven essential in success. We analysed the importance of idiosyncratic psychological aspects in the success of entrepreneurs through an observational study accompanying 20 entrepreneurs from the idea presentation phase to company incorporation. During the observation period 4 distinct psychological phases of the entrepreneurs were observed, being it possible to describe them as follows: absorption of information and knowledge; application of the gathered knowledge to their speci c cases; frustration generated by criticism, namely from investors who didn’t recognise the value of their projects; realism and implementation of the project. Having passed more than 6 months after the analysis period, one can verify that the entrepreneurs who have travelled the 4 phases are today developing their projects being that the remaining ones are in a similar situation as at the end of the initial two months. Conclusion: The ability to cope with frustration and rejection is a determinant factor in the success of the entrepreneur. The ability to learn from rejection, more than resilience help the entrepreneur to proceed

Audiobook- the paradigm of the portuguese publishing market

Initially, the audiobook was not a product to be marketed, being produced only for libraries, in order to allow access to information for the blind. In 2005, with the appearance of the first specialized audiobook, publishers in Portugal, the audiobooks began to be produced in order to be commercialized. The audiobook market in Portugal is small, having only 2 companies: Boca palavras que alimentam e a Companhia Nacional de Música. The Portuguese companies have very low sales volumes; which do not exceed a hundred thousand euros. The paper presents the business and production models of audiobooks in USA and proposes their adaptation to Portugal. In order to obtain the degree of acceptance of this format among the Portuguese society, two recordings of a book by a renowned Portuguese writer were made. The two records were made according to a set of technical requirements in order to ensure the quality of the audiobook. The two recordings were evaluated through a questionnaire. The results of the questionnaire are presented and analysed. From the analysis of the questionnaire, it seems that the Portuguese market of audiobooks has yet to be explored. It also seems that it worth the effort because Portuguese community is very open to new technologies and easily uses the internet market. Anyhow, it seems that some marketing campaigns are needed in order to change the actual preference of the printed book face to the virtual version.info:eu-repo/semantics/publishedVersio

Primary english practice programme for ages 6/7 : the need for a transformative and sustainable primary english teaching and learning processes

In the ever-evolving landscape of primary education, the significance of English instruction in shaping cognitive and linguistic development is irrefutable. As we navigate the complexities of the 21st century, a paradigm shift towards transformative and sustainable educational practices becomes imperative. This communication delves into the trajectory of a primary English teaching and learning process that aligns with transformative principles while embedding sustainability, by focusing on the main results of the implementation of the Primary English Practice Programme for Ages 6/7 (PEPPA) in the school year 2022-2023. The PEPPA project, a pilot project, aims to promote the implementation of the English disciplinary area in the curriculum of the 1st and 2nd years of schooling, in a Portuguese municipality. Its main objectives include raising awareness among pupils about the importance of learning foreign languages and providing teacher training for effective instruction in the 1st and 2nd years of schooling. Grounded in 21st-century educational paradigms, the theoretical foundation of this study underscores the importance of transformative learning experiences for primary English learners. Departing from traditional rote methods, the emphasis is on pedagogies that stimulate critical thinking, creativity, and cultural understanding. Project-Based Learning (PBL) emerges as a transformative approach, providing an immersive language acquisition experience by connecting English instruction with real-world projects. Sustainability in English education is conceptualized through the integration of eco-friendly materials, environmental themes, and responsible language use, fostering a sense of global interconnectedness among pupils. To unravel the efficacy of the proposed transformative and sustainable primary English teaching and learning process, a mixed-methods research design was employed. Qualitative data were gathered through classroom observations, questionnaires, and content analysis of educational materials. The research tools included observation grids to analyse teacher’s and pupils’ practices during lessons, rubrics for assessing project-based outcomes, and questionnaires applied to teachers. The analysis of gathered data reveals a substantial shift in primary English education towards transformative and sustainable practices. Project-Based Learning, when implemented, demonstrates enhanced language acquisition experiences, promoting critical thinking and problem-solving skills. Sustainability integration correlates with heightened environmental awareness and responsible language use among pupils. Multimodal resources, including digital platforms and interactive content, are shown to cater effectively to diverse learning styles. Continuous professional development initiatives empower educators to implement transformative practices successfully. In conclusion, the results underscore the effectiveness of embracing transformative and sustainable approaches in primary English education. The shift towards project-based, eco-conscious pedagogies positively impacts language acquisition, critical thinking, and global awareness among students. These findings advocate for a collective commitment from educators, administrators, and policymakers to foster a future generation that is not only proficient in English communication but also equipped to navigate the complexities of the 21st century. Keywords: primary English, sustainable development, soft skills, foreign language learning

Audiobooks business model - technologic challenges, case study

In English-speaking countries, the audiobook is a popular format and used very often. In Portugal the audiobook is an unknown format of the majority of the population, there are few audiobooks in Portuguese, and the ones that are found, are mostly in Brazilian Portuguese. With this work, we intend studying the business and production models present in the English-speaking countries, indicating the way for Portuguese companies to have success. In the course of this work, a preliminary recording was made, in order to know the difficulties related to the recording of an audiobook. The recording was provided to the University student community, to conduct a questionnaire about the quality of the recorded audiobook. The results of the questionnaire are presented and analyzed.info:eu-repo/semantics/publishedVersio