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Publications

Publications by CEGI

2021

Financial performance assessment of branded and non-branded hotel companies. Analysis of the Portuguese case

Authors
Martins, C; Vaz, CB; Alves, JMA;

Publication
INTERNATIONAL JOURNAL OF CONTEMPORARY HOSPITALITY MANAGEMENT

Abstract
Purpose Portugal has been experiencing a continuous growth in tourism activity, with hospitality industry as one of the main tourism sectors. Therefore, the assessment of hotel companies' performance is very important to assist decision processes. The purpose of this paper is to assess the financial performance (FP) of 570 hotel companies operating hotel units in Portugal in 2017. To explore the question of brand affiliation, a comparison was made between hotel companies with similar stars rating and market orientation. In addition, this paper intends to fill a gap in literature studying the Portuguese reality on the subject of brand affiliation. Design/methodology/approach The present study uses a methodology based on data envelopment analysis (DEA) to assess the overall performance for each company, which further decomposed into the within-group performance and the technological gap. The performance of the hotel company is assessed through the aggregation of multiple financial indicators using the composite indicator (CI) derived from the DEA model. A bivariate analysis based on the Tobit regression to test the robustness of brand effect on FP of hotel companies (HC) was also included. Findings The empirical results show that branded companies, on average, have significantly better overall FP than non-branded companies. On the one hand, the brand effect tends to improve the within-group FP of HCs and the brand presents a statistically significant positive effect on the FP. On the other hand, the best practices are observed in both branded and non-branded companies. Practical implications The results of this study illustrate that, globally, the better FP of the branded companies is because of their individual relative companies' performance and a better model of operation given by the brand effect. Brand affiliation will generally allow for a better FP and essentially a better profitability for invested equity, a higher return on sales and a higher value added per employee. Originality/value The study provides important theoretical and practical contributions that can assist the strategic decision of the HCs in choosing to operate independently or to adopt brand affiliation. Also, it is innovative because the FP of branded and non-branded HCs is measured not using a set of individual financial ratios but through a single CI that aggregates those financial ratios, using a DEA model.

2021

Impact of environmental concerns on the capacity-pricing problem in the car rental business

Authors
Queiros, F; Oliveira, BB;

Publication
JOURNAL OF CLEANER PRODUCTION

Abstract
One of the main decisions that a car rental company has to make regards the definition of the fleet size and mix, i.e., the capacity to meet demand. This demand is highly unpredictable and price-sensitive; thus, the definition of the prices charged influences capacity decisions. Moreover, capacity decisions are also linked to other company strategies to meet demand, such as offering upgrades or transferring empty cars between stations. Typically, these problems are tackled focusing on the maximization of profits, disregarding the environmental impacts associated with these decisions. There is a growing need for models and analytical tools that can support decisions considering the trade-off between profit and environmental impact in mobility. Therefore, this work incorporates environmental concerns into the capacity-pricing problem for car rental, proposing a bi-objective model to tackle the trade-off between profit and environmental impact. The Life Cycle Assessment method is applied not only to vehicles but also to fuel to define environmental parameters accurately. Four types of vehicles are considered: internal combustion engine vehicles, hybrids, hybrids plug-in, and electric vehicles. Solving multi-objective models is a computationally challenging problem, which requires efficient and applicable methods. These methods can support policy and business decisions in a real-world context, running different scenarios and evaluating solutions under varying conditions. Due to its efficiency in solving bi-objective models, an Epsilon-constraint method is developed and applied in diverse situations to retrieve managerial insights. The results obtained enable quantifying the feasible trade-offs, overall showing that, on average, with a decrease of 14.44% in financial results, it is possible to obtain a decrease of 63.41% in environmental impact. Additional insights are also retrieved related to the fleet, fuel, prices and demand.

2021

The impact of time windows constraints on metaheuristics implementation: a study for the Discrete and Dynamic Berth Allocation Problem (May, 10.1007/s10489-021-02420-4, 2021)

Authors
Barbosa, F; Rampazzo, PCB; de Azevedo, AT; Yamakami, A;

Publication
APPLIED INTELLIGENCE

Abstract

2021

Adaptive Sequence-Based Heuristic for Two-Dimensional Non-guillotine Packing Problems

Authors
Oliveira, Ó; Gamboa, D; Silva, E;

Publication
Springer Proceedings in Mathematics and Statistics

Abstract
We present heuristics for two related two-dimensional non-guillotine packing problems. The first problem aims to pack a set of items into the minimum number of larger identical bins, while the second aims to pack the items that generates most value into one bin. Our approach successively creates sequences of items that defines a packing order considering knowledge obtained from sequences previously generated. Computational experiments demonstrated that the proposed heuristics are very effective in terms of solution quality with small computing times. © 2021, Springer Nature Switzerland AG.

2021

Multi-Objective Optimization to Support the Design of a Sustainable Supply Chain for the Generation of Biofuels from Forest Waste

Authors
Gutierrez Franco, E; Polo, A; Clavijo Buritica, N; Rabelo, L;

Publication
SUSTAINABILITY

Abstract
The production and supply chain management of biofuels from organic waste as raw material has been identified as a promising strategy in the field of renewable energies and circular economy initiatives. This industry involves complex tasks such as strategic land use, feedstock purchasing, production plant location, production capacity strategy, and material flows, which can be solved by mathematical modeling. The study proposed a multi-objective mixed-integer linear programming model to design a sustainable supply chain of biofuels with forest residues from its triple function: economic, environmental, and social. The trade-offs between the proposed objectives were determined with computational results. The proposed objectives were profit maximization, CO2 minimization, and employment generation maximization. Thus, the proposed model serves as a tool for decision-making, allowing the projection of a long-term structure of the biofuel supply chains and contribute to the United Nations Sustainable Development Goals.

2021

Volunteer engagement: drivers and outcomes on non-profits' co-creation of value

Authors
Matos, M; Fernandes, T;

Publication
INTERNATIONAL REVIEW ON PUBLIC AND NONPROFIT MARKETING

Abstract
Engagement plays a key role for most organizations. Establishing close relationships with consumers and other stakeholders - thus promoting their loyalty and participation in the value creation process - has become an element of competitive advantage. Extant literature has focused consumer-brands relationships in commercial contexts; yet, when it comes to non-commercial or non-profit contexts - where communities of decidedly engaged individuals voluntarily invest their time and energy to a cause - research is still in its infancy. This study sets out to understand how non-profit organizations (NPO) can generate a sense of engagement among volunteers and which volunteers' behaviours - associated with that psychological state - entice value co-creation with NPO. Group interviews were carried out with volunteers to gain insights on drivers and outcomes of Volunteer Engagement (VE). Value congruence between volunteers and NPO, a sense of community, as well as perceptions of competence and autonomy, were identified as drivers of VE. The study further validated the impact of VE not only on somewhat predictable outcomes, such as NPO loyalty and advocacy, but also on the co-creation of value with NPO through the recruitment of new volunteers and the development of new ideas for service innovation.

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