The scientific article developed from the master's dissertation of Gonçalo Cardoso, an alumnus of the Master's in Management at Católica Porto Business School, has been recognised with the Best Work Award at one the “USP International Conference on Accounting” international congress, held from 22 to 24 July at the School of Economics, Business and Accounting of the University of São Paulo (FEA/USP), Brazil.
The paper was presented at the conference by Aviner Manoel, Professor at Católica Porto Business School and supervisor of Gonçalo Cardoso's master's dissertation, he is also an investigator at CEGE - Research Centre in Management and Economics of the School. The article is the result of a collaboration between Gonçalo Cardoso, Aviner Manoel and Alice Ames, Professor at the Federal University of Mato Grosso do Sul, and originated from the master's dissertation developed at Católica Porto Business School before being further expanded with the aim of publication in an international scientific journal.
For Gonçalo Cardoso, this distinction also represents recognition of the education he received at Católica Porto Business School and the work carried out throughout his master's programme.
"I would like to take this opportunity to thank the University and the faculty for the education and support that enabled me to develop this work and represent the institution in an international academic setting. We will continue working to take this project as far as possible, with the ambition of achieving its publication and, in doing so, continuing to represent and enhance the University's reputation."
The alumnus also expressed his gratitude to his dissertation supervisor:
"To Professor Aviner Manoel, whose dedication, availability and initiative have been fundamental to the development of this project and to its submission to international conferences and scientific journals."
Entitled Corporate Cash Holdings under Systemic Shocks: Evidence from the Subprime Financial Crisis and the COVID-19 Pandemic, the article examines how companies adjust their cash holdings in response to systemic shocks, comparing two of the most significant economic events of recent decades: the Subprime Financial Crisis and the COVID-19 pandemic.
According to Aviner Manoel, "the study shows that uncertainty alone does not lead companies to accumulate cash reserves. This decision also depends on their ability to maintain and strengthen liquidity in the face of a systemic shock, with practical implications for corporate liquidity management and the design of public policies to respond to crises."
The recognition achieved in Brazil marks another milestone in the internationalisation of this research.
"The article has now been submitted to an international scientific journal in the field of Finance and is currently undergoing peer review. We will continue to monitor the process closely and hope to share positive news as soon as an editorial decision is reached," says Aviner Manoel.
