Dora Almeida - Academia.edu (original) (raw)

Papers by Dora Almeida

Sustainability, Jun 19, 2024

This article is an open access article distributed under the terms and conditions of the Creative... more This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY

Journal of sustainable finance & investment, Apr 26, 2024

Economics and Business Letters, Dec 14, 2023

Post-communist economies, Mar 5, 2024

Journal of Behavioral and Experimental Finance, Dec 1, 2022

The paper examines how various COVID-19 news sentiments differentially impact the behaviour of cr... more The paper examines how various COVID-19 news sentiments differentially impact the behaviour of cryptocurrency returns. We used a nonlinear technique of transfer entropy to investigate the relationship between the top 30 cryptocurrencies by market capitalisation and COVID-19 news sentiment. Results show that COVID-19 news sentiment influences cryptocurrency returns. The nexus is unidirectional from news sentiment to cryptocurrency returns, in contrast to past findings. These results have practical implications for policymakers and market participants in understanding cryptocurrency market dynamics under extremely stressful market conditions.

FinTech

Extraordinary events, regardless of their financial or non-financial nature, are a great challeng... more Extraordinary events, regardless of their financial or non-financial nature, are a great challenge for financial stability. This study examines the impact of one such occurrence—the COVID-19 pandemic—on cryptocurrency markets. A detrended cross-correlation analysis was performed to evaluate how the links between 16 cryptocurrencies were changed by this event. Cross-correlation coefficients that were calculated before and after the onset of the pandemic were compared, and the statistical significance of their variation was assessed. The analysis results show that the markets of the assessed cryptocurrencies became more integrated. There is also evidence to suggest that the pandemic crisis promoted contagion, mainly across short timescales (with a few exceptions of non-contagion across long timescales). We conclude that, in spite of the distinct characteristics of cryptocurrencies, those in our sample offered no protection against the financial turbulence provoked by the COVID-19 pand...

Entropy, Jan 3, 2023

This article is an open access article distributed under the terms and conditions of the Creative... more This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY

The CASE Journal

Research methodology Strategic management is the focus area in this case study, so it is importan... more Research methodology Strategic management is the focus area in this case study, so it is important to consider different sources of information to make strategic decisions. Considering the different options of Wine Cooperative of Vidigueira Cuba & Alvito (ACVCA), it is necessary to know the strengths and weaknesses of each option and identify respective opportunities and threats. Additionally, it is important to know the case study object (such as operating specific characteristics, products and management model); the competition; the evolution of the wine sector in Portugal and worldwide; the evolution of the tourism sector in Portugal and worldwide; and new trends in wine and tourism. Case overview/synopsis In January 2018, Mr Jose, leader of the Board of Directors (BD) of the ACVCA, one of Portugal’s oldest wine cooperatives, located in the south of the country, in the Alentejo region, is preparing the first meeting with the newly elected BD. Addressing the strategy and sustainab...

Journal of Risk and Financial Management

Cryptocurrency investments are often perceived as uncertain and risky. In this study, we assessed... more Cryptocurrency investments are often perceived as uncertain and risky. In this study, we assessed if this is indeed the case, using a sample of seven cryptocurrencies and considered a period that encompassed the first real global shock in the life of these relatively new financial assets, the COVID-19 pandemic. Uncertainty was evaluated using Shannon’s symbolic entropy. To measure risk, we use value-at-risk and conditional value-at-risk. The results indicate that, except for Tether, the analyzed cryptocurrencies’ returns exhibited similar patterns of uncertainty and risk. Levels of uncertainty were close to the maximum values, but high uncertainty is not always associated with high risk. During the pandemic crisis, uncertainty increased while risk decreased, suggesting that the considered assets may have safe haven properties.

Revista Galega de Economía

Understanding the linkages among stock markets holds great importance for investors, policymakers... more Understanding the linkages among stock markets holds great importance for investors, policymakers and portfolio managers. When considering the integration of international stock markets and given they are complex systems, it is important to understand how they are related and how they influence each other. Studying data from 25 European Union stock market indices, this piece of research aims to evaluate the dynamics of influence among them. In terms of method, a non-linear approach has been applied, based on transfer entropy with static and dynamic analysis. As the main finding, a strongly influential relationship between some indices should be highlighted. The static analysis allows us to infer that central and western European Union countries are the main influencers, while the dynamic analysis leads us to the conclusion that the relationships between the stock markets have changed over time, revealing their dynamism. The results obtained have several implications. For instance, f...

Portugal apresenta um excedente comercial no que diz respeito ao vinho, sendo a internacionalizaç... more Portugal apresenta um excedente comercial no que diz respeito ao vinho, sendo a internacionalização bastante relevante na estratégia das empresas do setor vitivinícola. Com base numa abordagem mista, analisou-se o processo de internacionalização e de marketing mix internacional do Grupo Parras, onde se encontrou a exportação direta como modo predominante de entrada nos diferentes mercados internacionais. Foi possível, agrupar as motivações para a internacionalização em pró-ativas e reativas, e identificar a experiência internacional e a flexibilidade como competências fundamentais à internacionalização. O Grupo Parras não considera relevantes as barreiras à internacionalização, e adota uma estratégia de marketing mix internacional idêntica para os diversos mercados, baseada nos custos e na concorrência. Recorreu-se a um modelo de regressão linear múltipla para estabelecer relação entre a internacionalização e a performance do Grupo Parras, tendo-se concluído não existir relação line...

Journal of Risk and Financial Management

The economic growth of China has been driven by the development of its real estate market, especi... more The economic growth of China has been driven by the development of its real estate market, especially after the 2008 crisis. This growth is mostly related to the huge housing bubble and growing amounts of sovereign debt that have been redirected to corporations in the sector. Evergrande is one of those corporations; it is a Chinese company in the construction and real estate sector, a global giant with investments in many parts of the world. Its bond default in September 2021 sounded alerts in financial markets. Several news outlets spoke of the “next Lehman Brothers”, and apprehension was very high, especially in Asian markets. This research work aims to evaluate the impact of Evergrande’s bond default on six Asian stock markets, using an event study approach. The results show a strong reaction from the markets towards the event in study, even anticipating it. Furthermore, it is worth mentioning a quick reversion to “normal” behavior, indicating the rapid absorption of information ...

This paper examines how different categories of COVID–19 news sentiment differentially impact the... more This paper examines how different categories of COVID–19 news sentiment differentially impact the behavior of cryptocurrency returns. A nonlinear technique of transfer entropy is applied to investigate the relationship between the top 30 cryptocurrencies by market capitalization and COVID–19 news sentiment to capture cryptocurrency return and volatility dynamics. Results show that COVID–19 news sentiment influences cryptocurrency returns. The nexus is unidirectional from news sentiment to cryptocurrency returns, in contrast to past findings. These results have practical implications for policymakers and market participants in understanding cryptocurrency market dynamics under stressful market conditions.

Entropy

In this research work, we propose to assess the dynamic correlation between different mobility in... more In this research work, we propose to assess the dynamic correlation between different mobility indices, measured on a daily basis, and the new cases of COVID-19 in the different Portuguese districts. The analysis is based on global correlation measures, which capture linear and non-linear relationships in time series, in a robust and dynamic way, in a period without significant changes of non-pharmacological measures. The results show that mobility in retail and recreation, grocery and pharmacy, and public transport shows a higher correlation with new COVID-19 cases than mobility in parks, workplaces or residences. It should also be noted that this relationship is lower in districts with lower population density, which leads to the need for differentiated confinement policies in order to minimize the impacts of a terrible economic and social crisis.

Sustainability, Jun 19, 2024

This article is an open access article distributed under the terms and conditions of the Creative... more This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY

Journal of sustainable finance & investment, Apr 26, 2024

Economics and Business Letters, Dec 14, 2023

Post-communist economies, Mar 5, 2024

Journal of Behavioral and Experimental Finance, Dec 1, 2022

The paper examines how various COVID-19 news sentiments differentially impact the behaviour of cr... more The paper examines how various COVID-19 news sentiments differentially impact the behaviour of cryptocurrency returns. We used a nonlinear technique of transfer entropy to investigate the relationship between the top 30 cryptocurrencies by market capitalisation and COVID-19 news sentiment. Results show that COVID-19 news sentiment influences cryptocurrency returns. The nexus is unidirectional from news sentiment to cryptocurrency returns, in contrast to past findings. These results have practical implications for policymakers and market participants in understanding cryptocurrency market dynamics under extremely stressful market conditions.

FinTech

Extraordinary events, regardless of their financial or non-financial nature, are a great challeng... more Extraordinary events, regardless of their financial or non-financial nature, are a great challenge for financial stability. This study examines the impact of one such occurrence—the COVID-19 pandemic—on cryptocurrency markets. A detrended cross-correlation analysis was performed to evaluate how the links between 16 cryptocurrencies were changed by this event. Cross-correlation coefficients that were calculated before and after the onset of the pandemic were compared, and the statistical significance of their variation was assessed. The analysis results show that the markets of the assessed cryptocurrencies became more integrated. There is also evidence to suggest that the pandemic crisis promoted contagion, mainly across short timescales (with a few exceptions of non-contagion across long timescales). We conclude that, in spite of the distinct characteristics of cryptocurrencies, those in our sample offered no protection against the financial turbulence provoked by the COVID-19 pand...

Entropy, Jan 3, 2023

This article is an open access article distributed under the terms and conditions of the Creative... more This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY

The CASE Journal

Research methodology Strategic management is the focus area in this case study, so it is importan... more Research methodology Strategic management is the focus area in this case study, so it is important to consider different sources of information to make strategic decisions. Considering the different options of Wine Cooperative of Vidigueira Cuba & Alvito (ACVCA), it is necessary to know the strengths and weaknesses of each option and identify respective opportunities and threats. Additionally, it is important to know the case study object (such as operating specific characteristics, products and management model); the competition; the evolution of the wine sector in Portugal and worldwide; the evolution of the tourism sector in Portugal and worldwide; and new trends in wine and tourism. Case overview/synopsis In January 2018, Mr Jose, leader of the Board of Directors (BD) of the ACVCA, one of Portugal’s oldest wine cooperatives, located in the south of the country, in the Alentejo region, is preparing the first meeting with the newly elected BD. Addressing the strategy and sustainab...

Journal of Risk and Financial Management

Cryptocurrency investments are often perceived as uncertain and risky. In this study, we assessed... more Cryptocurrency investments are often perceived as uncertain and risky. In this study, we assessed if this is indeed the case, using a sample of seven cryptocurrencies and considered a period that encompassed the first real global shock in the life of these relatively new financial assets, the COVID-19 pandemic. Uncertainty was evaluated using Shannon’s symbolic entropy. To measure risk, we use value-at-risk and conditional value-at-risk. The results indicate that, except for Tether, the analyzed cryptocurrencies’ returns exhibited similar patterns of uncertainty and risk. Levels of uncertainty were close to the maximum values, but high uncertainty is not always associated with high risk. During the pandemic crisis, uncertainty increased while risk decreased, suggesting that the considered assets may have safe haven properties.

Revista Galega de Economía

Understanding the linkages among stock markets holds great importance for investors, policymakers... more Understanding the linkages among stock markets holds great importance for investors, policymakers and portfolio managers. When considering the integration of international stock markets and given they are complex systems, it is important to understand how they are related and how they influence each other. Studying data from 25 European Union stock market indices, this piece of research aims to evaluate the dynamics of influence among them. In terms of method, a non-linear approach has been applied, based on transfer entropy with static and dynamic analysis. As the main finding, a strongly influential relationship between some indices should be highlighted. The static analysis allows us to infer that central and western European Union countries are the main influencers, while the dynamic analysis leads us to the conclusion that the relationships between the stock markets have changed over time, revealing their dynamism. The results obtained have several implications. For instance, f...

Portugal apresenta um excedente comercial no que diz respeito ao vinho, sendo a internacionalizaç... more Portugal apresenta um excedente comercial no que diz respeito ao vinho, sendo a internacionalização bastante relevante na estratégia das empresas do setor vitivinícola. Com base numa abordagem mista, analisou-se o processo de internacionalização e de marketing mix internacional do Grupo Parras, onde se encontrou a exportação direta como modo predominante de entrada nos diferentes mercados internacionais. Foi possível, agrupar as motivações para a internacionalização em pró-ativas e reativas, e identificar a experiência internacional e a flexibilidade como competências fundamentais à internacionalização. O Grupo Parras não considera relevantes as barreiras à internacionalização, e adota uma estratégia de marketing mix internacional idêntica para os diversos mercados, baseada nos custos e na concorrência. Recorreu-se a um modelo de regressão linear múltipla para estabelecer relação entre a internacionalização e a performance do Grupo Parras, tendo-se concluído não existir relação line...

Journal of Risk and Financial Management

The economic growth of China has been driven by the development of its real estate market, especi... more The economic growth of China has been driven by the development of its real estate market, especially after the 2008 crisis. This growth is mostly related to the huge housing bubble and growing amounts of sovereign debt that have been redirected to corporations in the sector. Evergrande is one of those corporations; it is a Chinese company in the construction and real estate sector, a global giant with investments in many parts of the world. Its bond default in September 2021 sounded alerts in financial markets. Several news outlets spoke of the “next Lehman Brothers”, and apprehension was very high, especially in Asian markets. This research work aims to evaluate the impact of Evergrande’s bond default on six Asian stock markets, using an event study approach. The results show a strong reaction from the markets towards the event in study, even anticipating it. Furthermore, it is worth mentioning a quick reversion to “normal” behavior, indicating the rapid absorption of information ...

This paper examines how different categories of COVID–19 news sentiment differentially impact the... more This paper examines how different categories of COVID–19 news sentiment differentially impact the behavior of cryptocurrency returns. A nonlinear technique of transfer entropy is applied to investigate the relationship between the top 30 cryptocurrencies by market capitalization and COVID–19 news sentiment to capture cryptocurrency return and volatility dynamics. Results show that COVID–19 news sentiment influences cryptocurrency returns. The nexus is unidirectional from news sentiment to cryptocurrency returns, in contrast to past findings. These results have practical implications for policymakers and market participants in understanding cryptocurrency market dynamics under stressful market conditions.

Entropy

In this research work, we propose to assess the dynamic correlation between different mobility in... more In this research work, we propose to assess the dynamic correlation between different mobility indices, measured on a daily basis, and the new cases of COVID-19 in the different Portuguese districts. The analysis is based on global correlation measures, which capture linear and non-linear relationships in time series, in a robust and dynamic way, in a period without significant changes of non-pharmacological measures. The results show that mobility in retail and recreation, grocery and pharmacy, and public transport shows a higher correlation with new COVID-19 cases than mobility in parks, workplaces or residences. It should also be noted that this relationship is lower in districts with lower population density, which leads to the need for differentiated confinement policies in order to minimize the impacts of a terrible economic and social crisis.