Bi-Ca-Co-O polycrystalline materials with a layered structure were prepared. The synthesis of the sintered specimens from two starting compositions, Bi 1.8 Ca 2 Co 2 O x and Bi 2.5 Ca 2.5 Co 2 O x , revealed the latter is preferentially formed at high temperature (850°C). The increase in sintering time was shown by growth of large platelike grains (up to 50 m in diameter and several micrometers in thickness). The reaction mechanisms during the heat treatment and the preferential formation of the Bi 2.5 Ca 2.5 Co 2 O x phase were observed by x-ray diffraction, thermogravimetrydifferential thermal analysis, and scanning electron microscopy. These techniques supposed the presence of a liquid phase at high temperature, origin of a highly kinetic phase formation, and the growth of large grains. Interestingly the liquid phase reaction promotes an efficient stacking and sliding of grains during hot-forging treatment, and highly (00l) oriented materials were prepared. A relationship between thermoelectric performance, texture strength, and microstructure is clarified.