Ricardo Manuel de Barboza Marques de Moraes e Soar

@esce.ips.pt

Accounting and Finance
Higher School of Business Sciences

Ricardo Manuel de Barboza Marques de Moraes e Soar


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https://researchid.co/rsoares

RESEARCH, TEACHING, or OTHER INTERESTS

Economics, Econometrics and Finance, Business, Management and Accounting, Public Administration
14

Scopus Publications

70

Scholar Citations

5

Scholar h-index

1

Scholar i10-index

Scopus Publications

  • An Index of Municipal Tourist Attractiveness: A Possible Methodological Approach Applied to Portugal
    Journal of Sustainability Research, 2025
  • Comprehensive quantitative evaluation of municipal budget allocation efficiency: The Portuguese case
    Ricardo de Moraes e Soares, Alexandre Morais Nunes, Paula Heliodoro, Ana Catarina Kaizeler, Vanda Martins
    Public and Municipal Finance, 2025
    Type of the article: Research Article AbstractThe study provides a comprehensive quantitative evaluation of municipal budget allocation efficiency in Portugal over the period 2018–2022, based on a comparative and longitudinal analysis of financial data from 308 municipalities. Efficiency was assessed by examining the alignment between budget forecasts and actual financial execution. The results show that 77.6% of municipalities (n = 239) were classified as efficient in 2018, increasing to 82.1% (n = 253) in 2019 and 83.1% (n = 256) in 2020. However, a downward trend followed, with efficiency declining to 74.0% (n = 228) in 2021 and 73.7% (n = 227) in 2022. Over the five-year period, the average efficiency rate across all municipalities was 78.1%. In contrast, 21.9% of municipalities on average (ranging from 16.9% to 26.3%) consistently demonstrated inefficiencies in budget preparation and execution. The study identifies key contributing factors to inefficiency, including political interference, reliance on incremental budgeting approaches, and limited technical forecasting capacity. The data reveal persistent discrepancies between budgeted allocations and actual service demand, leading to resource misallocation and reduced fiscal credibility. Statistical patterns also indicate that municipalities with higher population densities and more diversified revenue sources tended to perform better in efficiency metrics. The findings support the conclusion that the adoption of rigorous, data-driven forecasting methodologies significantly improves financial planning outcomes and institutional trust. These results offer evidence-based recommendations for refining municipal financial management practices, particularly in settings subject to political and economic volatility. AcknowledgmentThis article is financed by Instituto Politécnico de Setúbal [Polytechnic Institute of Setúbal].
  • Evaluating the efficiency of public expenditure in municipal waste collection: A comparative study of Portuguese municipalities
    Ricardo de Moraes e Soares
    Environmental Economics, 2024
    Effective waste management is fundamental to sustainable development and the well-being of societies. This study focuses on the financial efficiency of urban waste collection in Portuguese municipalities, with the aim to analyze the effects of the allocation of public resources in the waste management sector. The main objective is to analyze the relationship between public spending and waste collection over a five-year period. Through the application of the classic data envelopment analysis model (DEA), the study seeks to observe the existence of benchmarking patterns, identify possible inefficiencies, and determine opportunities for improvement in urban waste management and collection practices. The results suggest substantial variations in waste collection efficiency between municipalities and a positive correlation between public spending and the volume of waste collected. The results emphasize the need for a strategic allocation of financial resources in order to promote sustainable waste management practices. The paper highlights the importance of municipalities reassessing their strategies for allocating financial resources to ensure a better balance between funding and efficiency in the use of resources. The conclusions offer valuable practical implications for defining strategies and managing municipal waste collection services in Portugal and other countries with similar contexts. AcknowledgmentThis article is financed by Instituto Politécnico de Setúbal [Polytechnic Institute of Setúbal]. 
  • Impact of research and development expenses on the profitability of assets: The case of textile and clothing industry in Portugal
    Ricardo de Moraes e Soares, Alexandre Morais Nunes, Paula Heliodoro, Vanda Martins
    Problems and Perspectives in Management, 2024
    The study aims to examine the financial efficiency of the textile and clothing industries in Portugal using official statistical data. The main objective is to assess the relationship between spending on research and development and return on assets. The study analyzes the performance of various subsectors of the textile and clothing industries, presenting the relationship between investments in research and development and the operating return on assets over various economic periods. The study adopted data envelopment analysis, classifying decision-making units based on average efficiency levels. The results highlight sectors of manufacture of textiles for technical and industrial use, manufacture of other textiles, production of outerwear, and manufacture of workwear as the most efficient. In contrast, sectors of manufacture of clothing and accessories, manufacture of knitwear, and leather clothing show lower levels of efficiency. From 2003 to 2022, the textile industry exhibited the highest levels of financial efficiency, with an above-average ratio between spending on research and development and return on assets. However, sectors of knitwear manufacturing and textile finishing have maintained a more or less constant level of financial efficiency. The analysis highlights the need for targeted interventions to increase the financial efficiency of different subsectors within the textile and clothing industries. It is evident that there are varying levels of financial efficiency across these sectors, and the need for benchmarking periods can help identify areas for improvement and set achievable goals. AcknowledgmentThis article is financed by Instituto Politécnico de Setúbal [Polytechnic Institute of Setúbal].
  • OPERATIONS OUTSIDE THE SCOPE OF VALUE ADDED TAX: A POSSIBLE ANALYSIS OF THE PORTUGUESE WINE SECTOR
    Ricardo de Moraes e Soares, Paula Heliodoro, Vanda Martins, Carla Oliveira
    Revista De Gestao Social E Ambiental, 2024
    Objective: The study aims to analyse and clarify the VAT framework in participation association contracts, distinguishing between contractual and tax obligations. Method: It includes a case study and a detailed analysis of partnership contracts, case law, and tax doctrine. The data was interpreted in light of the relevant tax laws, distinguishing between contractual and tax obligations in order to determine the VAT framework. Results and conclusions: The results show that the liabilities borne by the associate (Entity B) should be considered supplies of services subject to VAT. The contribution of the associate (Entity B) is not subject to tax. These distinctions allow for a correct application of tax law. The conclusions reveal the possible readings of the application of VAT. Implications if the research: Research is important to ensure the correct application of tax law in partnership agreements. This analysis can help promote the correct application of VAT and more efficient financial management for both parties involved. It provides relevant insights for academia, society, and policymakers. Originality/value: It is the result of detailed observation of the VAT framework in association in participation contracts, providing possible insights in order to avoid possible tax uncertainties and ensure the correct reading of the tax law in more complex commercial transactions.
  • An Analysis of VAT in the Context of Participatory Association Agreements: The Case of the Wine Sector
    Revista Juridica Portucalense, 2024
  • ALTERNATIVE FORMS OF CURRENCY: AN EXPLORATORY THEORETICAL ANALYSIS OF BITCOIN
    Ricardo de Moraes E Soares, Paula Heliodoro, Vanda Martins, Cristina Morais da Palma
    Revista De Gestao Social E Ambiental, 2024
    Objective: The study aims to critically analyse the role of digital currencies in the context of the monetary system and the challenges and implications for monetary liberalism. Method: Critical review based on an analysis of financial doctrine. A descriptive approach was applied to identify the relevant theories, followed by a critical analysis of the perspectives adopted by the authors. The main theoretical arguments are identified and debated. The methodology enables a critical study to be carried out through comparisons. Results and conclusions: The results highlight the clarity of the arguments, the logical solidity, and the relevance of the evidence presented by the authors. The comparative analysis reveals points of convergence and divergence in the arguments. Inclusive interpretation and reflection allowed the implications of the theoretical approaches for the field of study to be analysed. The conclusions reveal the evidence obtained. Implications if the research: They include an in-depth understanding of the financial theories examined at the level of Bitcoin, highlighting contributions and limitations. Promotes the advancement of knowledge in the theoretical field, identifies possible gaps in the literature, and suggests areas for future research. Provides relevant insights for academia, society, and policymakers. Originality/value: It resides in the application of a critical and analytical approach to financial theories, offering a detailed and contextualised review of the literature. The value comes from providing enlightened insights into the theoretical foundations and possible applications, contributing to the advancement of the academic and social fields.
  • Asymmetries in energy consumption: Efficiency of public spending across Portuguese municipalities
    Ricardo de Moraes e Soares, Alexandre Morais Nunes, Pedro Pinheiro, Ana Catarina Kaizeler, Vanda Martins
    Public and Municipal Finance, 2024
    The efficient allocation of public financial resources to energy consumption in Portuguese municipalities is one of the most discussed topics in public finance, given the growing relevance of sustainability and energy efficiency. The study analyzes how public spending affects energy efficiency through a combination of data analysis and hypotheses testing to assess the relationship between public spending and energy consumption. The methodology includes DEA analysis of the financial data and energy consumption of the municipalities, as well as the definition of hypotheses to determine the possible correlations between investment and efficiency. The results suggest that, in general, municipalities with higher levels of public spending have lower levels of energy efficiency. Meanwhile, municipalities with smaller budgets and fewer resources tend to be more efficient. The DEA analysis of the data suggests that energy efficiency is not directly related to the size and/or economic aptitude of municipalities but rather to their ability to adopt new technologies and more efficient budgetary and financial management practices. The hypotheses tested show varying levels of efficiency in public spending in relation to energy consumption. The study also concludes that public policies should focus on technological innovation and benchmarking to improve energy efficiency. The analysis suggests that collaboration between municipalities and the adoption of best practices are essential to tackle regional disparities and promote energy sustainability. AcknowledgmentsThis article is financed by Instituto Politécnico de Lisboa [Polytechnic Institute of Lisbon].
  • Fiscal attractiveness of Portuguese municipalities
    Ricardo de Moraes e Soares, Pedro Pinheiro
    Public and Municipal Finance, 2023
    The modeling of the municipalities’ tax burden is one of the most relevant issues, especially in terms of municipal competitiveness. It challenges the definition and delimitation of local authorities’ taxing powers. This study aims to analyze the level of taxation of Portuguese municipalities and how local policies contribute to the definition of a ranking of fiscally more competitive municipalities. The paper applies quantitative methods based on the fiscal information made available by municipalities. It has been determined that it is possible to classify municipalities as more or less competitive through their tax supply, mainly at the level of their ability to set tax rates. In 2021, compared to 2020, the most fiscally competitive municipalities were located in the Autonomous Region of the Azores (Corvo (95.128%); Vila do Pico (95.128%); Madalena (95.128%); Povoação (95.078%); Santa Cruz das Flores (95.072%); Angra do Heroísmo (95.044%); Nordeste (95.036%); Vila Franca do Campo (95.036%); Horta (95.017%); and Ponta Delgada (95.017%)). The study also verified the maintenance of fiscal competitiveness among the most fiscally attractive municipalities, despite having several types of fiscal attraction policy options at their disposal, always conditioned by national legislation. This means fiscal policy is an instrument of competition for attracting companies, people, and productive investment to local municipalities. The existence of an international dogma favorable to the increasing attribution of administrative and financial autonomy to local authorities mainly supports this phenomenon.
  • Arm’s length principle and reference range in the OECD transfer pricing guidelines convention: a comparative study aimed at the net cost plus method
    N.A. Jo�ã, o Ricardo Catarino, Ricardo d, e Moraes e Soares, Susana Sobral
    International Journal of Public Law and Policy, 2023
  • Indirect taxation on VAT consumption. A possible study of alternative tax rate models in Portugal
    Ricardo de Moraes e Soares, Pedro Pinheiro, Paula Heliodoro
    Investment Management and Financial Innovations, 2023
  • The contribution of tax expenditure in fiscal consolidation in post-crisis economies: a case study of the context in Portugal1
    João Ricardo Catarino, Rui Miguel Alcario Salvador, Ricardo de Moraes e Soares
    Sequencia, 2021
  • Impacts of the online Gambling Prohibition Policy – A Comparative Survey of Brazil versus the European Union
    João Ricardo Catarino, José Duarte Cordeiro, Ricardo de Moraes e Soares
    Sequencia, 2020
  • Restructuring the european VAT tax system: Advantages and disadvantages of the adoption of a single-rate model-A study based on the Portuguese case
    João Ricardo Catarino, Ricardo Moraes e Soares
    European Journal of Government and Economics, 2019

RECENT SCHOLAR PUBLICATIONS

  • Attitudes and perceptions using Artificial Intelligence by Management, Secretarial and Tourism students in Portuguese higher education
    A Fragata, R Moraes e Soares, C Oliveira, D Pinto, L Cruz-Lopes
    Proceedings of RESEARCHFORA International Conference, Budapest, Hungary , 2025
    2025
  • An Index of Municipal Tourist Attractiveness: A Possible Methodological Approach Applied to Portugal
    RM e Soares, AM Nunes, JR Catarino, AC Kaizeler, V Martins
    Journal of Sustainability Research 7 (3) , 2025
    2025
    Citations: 1
  • Comprehensive quantitative evaluation of municipal budget allocation efficiency: the Portuguese case
    R Moraes e Soares, AM Nunes, P HELIODORO, AC Kaizeler, V Martins
    2025
  • COMPREHENSIVE quANTITATIVE
    RM e Soares, AM Nunes, P Heliodoro, AC Kaizeler, V Martins
    2025
  • Comprehensive quantitative evaluation of municipal budget allocation efficiency: The Portuguese case
    RM e Soares, AM Nunes, P Heliodoro, AC Kaizeler, V Martins
    Public and Municipal Finance 14 (3), 59-73 , 2025
    2025
    Citations: 2
  • Municipal energy efficiency in Portugal: an analysis of electricity and natural gas consumption
    R Moraes Soares, AM Nunes, V Martins
    International Journal of Religion 5 (10), 4099-4111 , 2024
    2024
  • Evaluating the efficiency of public expenditure in municipal waste collection: A comparative study of Portuguese municipalities
    R Moraes Soares
    Environmental Economics 15 (1), 203-216 , 2024
    2024
    Citations: 1
  • Innovation, the Clothing Industry, and Textile Manufacturing in Portugal: An Exploratory Analysis of the Sector Between 2003 and 2022
    R Moraes e Soares
    Industry and Innovation: Textile Industry, 165-184 , 2024
    2024
  • Innovation, the Clothing Industry, and Textile Manufacturing in Portugal: An Exploratory Analysis of the Sector
    RM e Soares
    Industry and Innovation: Textile Industry, 165 , 2024
    2024
  • An analysis of VAT in the context of participatory association agreements: the case of the wine sector
    R Moraes Soares, P Heliodoro, V Martins, C Morais da Palma
    Revista Jurídica Portucalense 35 (2024), 303-322 , 2024
    2024
  • Impact of research and development expenses on the profitability of assets: The case of textile and clothing industry in Portugal
    R Moraes e Soares, AM Nunes, PA Heliodoro, V Martins
    Problems and Perspectives in Management 22 (1), 702-715 , 2024
    2024
  • Evaluating the efficiency of public expenditure in municipal waste collection: a comparative study of Portuguese municipalities
    R Moraes e Soares
    2024
  • Asymmetries in energy consumption: Efficiency of public spending across Portuguese municipalities
    R Moraes e Soares, AM Nunes, P Pinheiro, AC Kaizeler, V Martins
    Public and Municipal Finance 13 (2), 110-125 , 2024
    2024
    Citations: 1
  • Impact of research and development expenses on the profitability of assets: The case of textile and clothing industry in Portugal
    RM e Soares, AM Nunes, P Heliodoro, V Martins
    Problems and Perspectives in Management 22 (1), 702 , 2024
    2024
    Citations: 1
  • Operations outside the scope of value added tax: a possible analysis of the Portuguese wine sector
    R Moraes e Soares, P Heliodoro, V Martins, C Oliveira
    Revista de Gestão Social e Ambiental 18 (5), e05292(1)-e05292(22) , 2024
    2024
    Citations: 1
  • Alternatives forms of currency: an exploratory theoretical analysis of Bitcoin
    R Moraes Soares, P Heliodoro, V Martins, C Morais da Palma
    Revista de Gestão Social e Ambiental 18 (3), e05047(1)-e05047(21) , 2024
    2024
    Citations: 5
  • Uma análise sobre a eficiência técnica: a indústria têxtil e do vestuário em Portugal ao longo do período de 2003-2022
    R Moraes Soares, P Heliodoro, V Martins, C Morais da Palma
    International Journal of Professional Business Review 9 (1), e04249(1 … , 2024
    2024
  • The neutrality principle and the economic efficiency of tax policy: an exploratory study of the legal-economic approach
    R Moraes Soares, P Heliodoro, V Martins
    GeSec: Revista de Gestao e Secretariado 14 (10), 18512–18529 , 2023
    2023
  • Determinants of municipal tax rates: empirical evidence in the portuguese context.
    R de Moraes e Soares, H Reis, J Ricardo Catarino
    GeSec: Revista de Gestao e Secretariado 14 (8) , 2023
    2023
  • Um estudo sobre a possível aplicação do modelo de imposto único sobre o consumo: o caso de Portugal
    R de Moraes, P Heliodoro, V Martins, CM da Palma
    Revista de Gestão e Secretariado 14 (11), 19681-19703 , 2023
    2023

MOST CITED SCHOLAR PUBLICATIONS

  • Restructuring the European VAT tax system: Advantages and disadvantages of the adoption of a single-rate model - a study based on the Portuguese case
    JR Catarino, R Moraes Soares
    European Journal of Government and Economics 8 (2), 145-160 , 2019
    2019
    Citations: 11
  • Ensaio sobre a reestruturação do sistema de tributação indireta: análise socioeconómica sobre as vantagens e inconvenientes da adoção de um modelo de taxa única em Portugal
    JR Catarino, R Moraes Soares, PM Correia
    Trabajo y sociedad: Indagaciones sobre el empleo, la cultura y las prácticas … , 2017
    2017
    Citations: 7
  • A tributação indireta sobre o consumo em sede de IVA
    RM Soares
    Um estudo de modelos alternativos de taxa de imposto , 2021
    2021
    Citations: 6
  • Alternatives forms of currency: an exploratory theoretical analysis of Bitcoin
    R Moraes Soares, P Heliodoro, V Martins, C Morais da Palma
    Revista de Gestão Social e Ambiental 18 (3), e05047(1)-e05047(21) , 2024
    2024
    Citations: 5
  • A Tributação indireta sobre o consumo em sede de IVA. Um estudo de modelos alternativos de taxa de imposto
    R Moraes Soares
    Instituto Superior de Ciências Sociais e Políticas , 2021
    2021
    Citations: 5
  • Impacts of the online Gambling Prohibition Policy: A Comparative Survey of Brazil versus the European Union.
    JR Catarino, JD Cordeiro, R Moraes Soares
    Revista Seqüência 41 (85) , 2020
    2020
    Citations: 5
  • Impactos da Política da Proibição do Jogo on-line-Uma Pesquisa Comparativa Brasil versus União Europeia
    JR Catarino, JD Cordeiro, R Moraes Soares
    Sequência (Florianópolis), 51-85 , 2020
    2020
    Citations: 4
  • Regime de regressividade na tributação geral sobre o consumo : uma proposta para a sua atenuação.
    JR Catarino, R Moraes Soares, PM Correia
    Sciencia Iuridica - Revista de direito Comparado Português e Brasileiro 340 … , 2016
    2016
    Citations: 4
  • Arm's length principle and reference range in the OECD transfer pricing guidelines convention: A comparative study aimed at the net cost plus method
    JR Catarino, R Moraes Soares, S Sobral
    International Journal of Public Law and Policy 9 (3), 268-284 , 2023
    2023
    Citations: 3
  • Desigualdades de Esforço Fiscal no Imposto de Renda das Pessoas Físicas.
    JR Catarino, R Moraes Soares
    Revista Seqüência 38 (76) , 2017
    2017
    Citations: 3
  • Comprehensive quantitative evaluation of municipal budget allocation efficiency: The Portuguese case
    RM e Soares, AM Nunes, P Heliodoro, AC Kaizeler, V Martins
    Public and Municipal Finance 14 (3), 59-73 , 2025
    2025
    Citations: 2
  • Indirect taxation on VAT consumption: a possible study of alternative tax rate models in Portugal
    R Moraes e Soares, P Pinheiro, P Heliodoro
    Investment Management and Financial Innovations 14 (10), 156-170 , 2023
    2023
    Citations: 2
  • Competition, competitiveness and municipal fiscal attractiveness. Proposal of an index for measuring the tax attractiveness of portuguese municipalities (IMAF)
    R Moraes Soares
    GeSec: Revista de Gestão e Secretariado 14 (6), 10259-10283 , 2023
    2023
    Citations: 2
  • Fiscal attractiveness of portuguese municipalities
    R Moraes Soares, P Pinheiro
    Public and Municipal Finance 12 (2), 1-16 , 2023
    2023
    Citations: 2
  • O IVA no paradigma da eficiência e simplicidade: uma proposta para a implementação de uma taxa única de IVA
    R Moraes Soares
    Instituto Superior de Ciências Sociais e Políticas , 2014
    2014
    Citations: 2
  • An Index of Municipal Tourist Attractiveness: A Possible Methodological Approach Applied to Portugal
    RM e Soares, AM Nunes, JR Catarino, AC Kaizeler, V Martins
    Journal of Sustainability Research 7 (3) , 2025
    2025
    Citations: 1
  • Evaluating the efficiency of public expenditure in municipal waste collection: A comparative study of Portuguese municipalities
    R Moraes Soares
    Environmental Economics 15 (1), 203-216 , 2024
    2024
    Citations: 1
  • Asymmetries in energy consumption: Efficiency of public spending across Portuguese municipalities
    R Moraes e Soares, AM Nunes, P Pinheiro, AC Kaizeler, V Martins
    Public and Municipal Finance 13 (2), 110-125 , 2024
    2024
    Citations: 1
  • Impact of research and development expenses on the profitability of assets: The case of textile and clothing industry in Portugal
    RM e Soares, AM Nunes, P Heliodoro, V Martins
    Problems and Perspectives in Management 22 (1), 702 , 2024
    2024
    Citations: 1
  • Operations outside the scope of value added tax: a possible analysis of the Portuguese wine sector
    R Moraes e Soares, P Heliodoro, V Martins, C Oliveira
    Revista de Gestão Social e Ambiental 18 (5), e05292(1)-e05292(22) , 2024
    2024
    Citations: 1