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Open Access
Article
Publication date: 19 April 2024

Daniel Werner Lima Souza de Almeida, Tabajara Pimenta Júnior, Luiz Eduardo Gaio and Fabiano Guasti Lima

This study aims to evaluate the presence of abnormal returns due to stock splits or reverse stock splits in the Brazilian capital market context.

Abstract

Purpose

This study aims to evaluate the presence of abnormal returns due to stock splits or reverse stock splits in the Brazilian capital market context.

Design/methodology/approach

The event study technique was used on data from 518 events that occurred in a 30-year period (1987–2016), comprising 167 stock splits and 351 reverse stock splits.

Findings

The results revealed the occurrence of abnormal returns around the time the shares began trading stock splits or reverse stock splits at a statistical significance level of 5%. The main conclusion is that stock split and reverse stock split operations represent opportunities for extraordinary gains and may serve as a reference for investment strategies in the Brazilian stock market.

Originality/value

This study innovates by including reverse stock splits, as the existing literature focuses on stock splits, and by testing two distinct “zero” dates that of the ordinary general meeting that approved the share alteration and the “ex” date of the alteration, when the shares were effectively traded, reverse split or split.

Details

Journal of Economics, Finance and Administrative Science, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2077-1886

Keywords

Article
Publication date: 1 November 2023

Teresa Cunha Ferreira, David Ordóñez-Castañón and Rui Fernandes Póvoas

This research seeks to provide methodological bases for the identification, documentation and critical reflection of good practices of architectural design in built heritage…

Abstract

Purpose

This research seeks to provide methodological bases for the identification, documentation and critical reflection of good practices of architectural design in built heritage. These are applied explicitly to the School of Porto architects, which express a high sense of pedagogy and community practice in this field. The methodological approach defines the selection criteria for a georeferenced inventory and the procedures for in-depth analysis of adaptive reuse strategies.

Design/methodology/approach

The works included in the inventory were selected according to geographical, chronological, typological, qualitative and quantitative criteria. The cases chosen for in-depth analysis have been studied along four thematic axes to dissect all the intervention processes (previous state, design/construction and final state). This approach is supported by a cross-analysis of different sources (oral, written, graphic) and using drawing as a fundamental research tool.

Findings

The research has collected and disseminated up to 150 works by 44 architects, providing a comprehensive portrait of heritage intervention by the School of Porto over the past decades. The selection of 22 buildings for in-depth documentation reveals a particular sensibility toward the cultural values through a case-by-case approach based in deep knowledge of the preexisting context and the introduction of contemporary additions in continuity and harmonious relation with the environmental and sociocultural context.

Originality/value

This work provides a novel methodology suitable for further extension and adaptation to other case studies, as a first contribution to a more comprehensive “Atlas of Architectural Design in Built Heritage” with European case studies. The research aims to introduce new and deeper perspectives on reference works that may constitute pedagogy for the future practice of architects within contextual, inclusive and sustainable approaches.

Details

Journal of Cultural Heritage Management and Sustainable Development, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2044-1266

Keywords

Open Access
Article
Publication date: 16 January 2023

Javier A. Sánchez-Torres, Yuri Lorene Hernández Fernández and Carolina Perlaza Lopera

This study examines the factors that influence the ecotourist behavior of university students. The understanding of what motivates these students can inform future suggestions for…

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Abstract

Purpose

This study examines the factors that influence the ecotourist behavior of university students. The understanding of what motivates these students can inform future suggestions for strategies and actions in ecotourism.

Design/methodology/approach

The study was applied to university students of the University of Medellín, Colombia. It was an exploratory empirical study that surveyed a total of 696 students.

Findings

The results show that students with a positive attitude toward ecology tend to be interested in nature-related activities, therefore generating an intention to engage in ecotourism. The authors found that those who view ecotourism as an activity that promotes fun and happiness tend to engage more frequently in these activities.

Originality/value

This study is of great interest for research in motivational theory, specifically the analysis of personality profiles and how these relate to specific tourism behaviors. The findings of this study strongly suggest that those interested in the management and development of ecotourism should establish practices and programs that consider factors such as tourist segmentation, effective communication of the positive qualities of ecotourism and environmental stewardship involved in these activities.

Details

Journal of Tourism Futures, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2055-5911

Keywords

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