Repositório RCAAP

ABSTRACT Purpose: We aimed to identify the effects of predictors of work-related well-being in the Brazilian Psychology literature. Originality/value: Researchers have focused on employee well-being to optimize working conditions and work performance in organizations. Despite a long research tradition about well-being, the predictors of employee well-being are not clear in the Brazilian literature. Design/methodology/approach: First, in the literature review, we selected five studies using the descriptor “well-being” in the Brazilian portal of Electronic Journals in Psychology (Periódicos Eletrônicos em Psicologia [PePSIC]) and applied inclusion and exclusion criteria. Next, we compiled those studies’ evidence to perform a meta-analysis using the software Jamovi 0.9.5.12 and the plugin MAJOR Meta-analysis 1.0.0 R. Findings: The prediction of employee well-being - performed by means of intra-individual variables, connections with organizations and labor (O&L), and macro variables - was clear about the positive and negative impacts of variables on well-being. However, further research studies are necessary, especially those in the interface with Administration and other areas, in order to optimize the generalization of the effects we found. In summary, this study contributes to the field of study by presenting preliminary evidence to elaborate high impact, evidence-based policies and practices on people management, including a possible interdisciplinary association between Psychology and Administration.

ABSTRACT Purpose: In this study, the notion of absorptive capacity (AC) and its configurations were adopted as a reference with the general goal of understanding the development stage of processes and routines of the acquisition, transformation and application of knowledge in the context of a public research company. Originality/value: One of the mobilizing factors in the agricultural sector in Brazil is the generation of new products and processes. In this case, the Brazilian Agricultural Research Agency (Embrapa) has played a role, especially in the absorption, internalization and generation of agricultural knowledge and innovations. In its processes, it involves its decentralized units and scientific and technological partners through research and development (R&D) processes. Identifying and systematizing the most effective forms and configurations in processes and routines associated with the dynamic of knowledge appropriation in a diverse and dynamic environment such as Embrapa constitutes a major challenge for scholars. However, recent studies have highlighted the growing diffusion of the debate on the AC construct. Design/methodology/approach: For this purpose, a case study was conducted involving Embrapa and three of its R&D projects. The study found evidence of intra-organizational and interorganizational alliances, as well as resulting important innovations. Findings: The principal contribution was identifying, in a public research company, the presence of routines and processes similar to those observed in the configurations of AC analyzed in the literature and the consolidation of routines and processes of knowledge absorption at the intra-organizational and interorganizational levels.

ABSTRACT Purpose: This paper aims to analyze the attractiveness of the markets in the inland of Brazil to franchise chains based on the characteristics of institutional environment, referring to the socioeconomic, geographical, and human resources dimensions. Originality/value: Interiorization is a theme that has been hardly explored in franchise chains’ growth strategies. This paper contributes to this debate through the institutional theoretical perspective, contributing to the clarification and ordering of the decision-making factors for the regional expansion of franchises. For regional development, it calls for municipal management to direct actions aimed at socioeconomic development and human resources. Design/methodology/approach: The quantitative method using secondary data - from Brazilian Association of Franchising (Associação Brasileira de Franchising [ABF]), Brazilian Association of Shopping Centers (Associação Brasileira de Shopping Centers [Abrasce]), Brazilian Institute of Geography and Statistics (Instituto Brasileiro de Geografia e Estatística [IBGE]) and Google Maps - was employed in this study for the analysis of franchise location and for municipalities. The sample comprised 458 municipalities with a populaion of above 50 thousand inhabitants. The statistical techniques used were factor analysis and multiple regression analysis. Findings: The results show that the socioeconomic and human resources factors of the municipalities are essential for the attractiveness of franchises chains to the inland of the country. In turn, the geographical distance of the inland municipality in relation to the state capital did not present adherence to the model as an explanation for the attraction of franchises.

ABSTRACT Purpose: To understand how learning, the constituent elements of strategizing and organizational routines act in the process of product development, from the perspective of dynamic capabilities (DC), in a company of the food sector. Originality/value: To the extent that the learning-practice-routine trinomial is addressed, the results of this research present new and enlightening insights for the understanding of how dynamic capabilities are developed. Additionally, by considering the role of practitioners in the constitution of routines and by identifying how they relate to practices and praxis, evidence advance knowledge on the subject. Design/methodology/approach: Qualitative approach through the selection of a company that has worked overtime in the development of new products. The data were collected through non-participant observation, documentary analysis, and narrative interview. Data analysis occurred through narrative analysis. Findings: Through the appropriation of practices and the institutionalization of praxis, the strategic routines are enacted by practitioners, who accumulate and generate learning capable of developing DC. Thus, the learning-practice-routine trinomial allows to reveal how the DC are developed. In addition, the important role that practitioners play in this process was evidenced in the sense that, without them, routines are not enacted and, consequently, there is no development of DC.

ABSTRACT Purpose: This article aims to explore how the grounded theory (GT) was used in empirical research in the area of Organizational Studies. GT is a research strategy widely used in Business Administration studies both nationally and internationally. However, studies have little to do with how this research strategy is applied in practice and how researchers deal with difficulties that arise during the research process. Originality/value: This article presents how methodological issues not provided for in the research design proposed by the GT were overcome during the data collection and analysis phases. Design/methodology/approach: The article is based on research that aimed to understand the aging of executive women. In this article, the main codes, categories, and subcategories that emerged during the develop ment of the field research were exposed. In addition, we present the pro gress of theoretical sampling and the use of specific GT techniques, such as the flip-flop technique and the progress of the research question. Findings: As a practical implication, the article contributes to researchers who intend to use the GT, insofar they can take the step by step of using the method, as well as anticipating possible difficulties to be faced in the design of the research.

ABSTRACT Purpose: The objective of this investigation is to analyze the influence of the conspicuous consumption of fast fashion products on Instagram on the identity construction process of female fashion consumers. Originality/value: Filling a gap in the literature relating to conspicuous consumption and identity construction, this investigation analyzes the consumption dynamics, investigating relevant phenomena on a current and relevant online social network: Instagram; and explaining, in an analysis by categories, the continued dissatisfaction of consumers with the goods that drive and determine the dynamics of fast fashion consumption. Design/methodology/approach: The methodology was qualitative, triangulating data from participant observation, interviews, and online focus groups. Eleven women were interviewed, and three focus group sessions were conducted, with a total of sixteen participants. The data were analyzed through content analysis with categories before and subcategories that emerged afterwards. Findings: The findings show the conspicuous consumption of fast fashion products on Instagram as creators of sense, self-concept, and self-image, following and demonstrating the lifestyle of consumers. The satisfaction resulting from people’s approval, the goods used for compliance in social groups, and the continued dissatisfaction with their possession are observed, which drives fast fashion consumption. The constructed identities are presented as contextual, fluid, and fragmented.

ABSTRACT Purpose: The objective of this study was to verify the difference in levels of satisfaction among retirees residing in Brazil and Portugal. Originality/value: The world aging process creates challenges in the sense of providing well-being for those who have decided to retire, considering the importance of this moment in people’s lives. Despite this, there are many gaps in studies on well-being in retirement, especially cross-cultural studies. Design/methodology/approach: This is a cross-sectional, quantitative study involving 1,441 retirees, 997 Brazilians and 444 Portuguese, who responded to the Retirement Satisfaction Inventory (RSI) and sociodemographic issues. For the analyses of the data, we performed multi-group confirmatory factor analyses, internal consistency and validity analyses, invariance verification and comparison of latent means of the instrument factors between the two countries. Findings: The results pointed to a consistent instrument structure for the two countries, which made it possible to compare them. There were no significant differences between countries in the factors related to satisfaction with individual resources and social relationships. However, in the third factor of the instrument - satisfaction with collective resources - the participants in Portugal presented a mean significantly higher than the Brazilian participants. At the end, the conclusion of the measure of satisfaction in retirement is concluded, and the differences in public service offerings between Brazil and Portugal are discussed, pointing to the specific needs of the retired population.

ABSTRACT Purpose: This paper analyses the viability of stock trading as a mechanism to promote corporate governance, addressing its effects on abnormal returns, information, and firm performance. Originality/value: The study indicates that competition among institutional investors is important to raise stock price efficiency. Policies that allow capital inflow, increase in liquidity, and a link between managers’ salaries and stock performance are beneficial to reinforce the stock market efficiency. Design/methodology/approach: Hypotheses testing using panel data regressions of 233 stocks between December 2009 to December 2017 from Thomson Eikon, Economatica and ComDinheiro. Findings: The results indicate that the number of institutional investors is not related to abnormal returns. On the other hand, the number of institutional investors increases the amount of firm-specific information into stock prices, rising stock market price efficiency. This relationship is stronger among the preferred stocks (PN), but this mechanism is still not valid to increase firms’ operational performance. Despite the possible increase in stock price efficiency, the investors cannot adopt such a mechanism to exercise governance if there is no remuneration linked to performance.

ABSTRACT Purpose: This research seeks to identify how entrepreneurs’ personality traits can influence the capital structure of micro and small private businesses in Brazil, which are important for the economic growth and the subsistence of their owners. Originality/value: The study of the behavioral dimension of business decisions can help financial agents to better understand client behavior, including the adoption of mechanisms that identify possible risky or inefficient decisions made by managers based on their personality traits. It can also assist the government and institutions supporting micro and small private businesses in developing strategies to reduce the mortality of such companies. Design/methodology/approach: The proposed model involves 19 expected relationships that evaluate the relationships between the optimism, risk tolerance, sense of control (external and internal), attitude towards debt, and entrepreneur gender constructs. The sample includes 625 micro and small entrepreneurs in the state of Rio Grande do Sul, Brazil. Confirmatory factor analysis and structural equation modeling were performed. Findings: Results showed that attitude towards debt and gender were the most significant constructs and had a direct influence on the capital structure, while optimism and internal locus of control exerted a negative indirect influence, while risk tolerance had a positive indirect effect. Female managers demonstrated higher optimism and internal locus of control than male managers, but they had a worse attitude towards debt.

ABSTRACT Purpose: The purpose of this paper is to review and systematize previous studies on boards of directors in Brazil and propose an agenda to guide future studies. Originality/value: A conceptual model is developed to provide an integrated view for research on the board of directors, incorporating variables from different levels that connect governance mechanisms, best practices, board dynamics and company performance; we identified gaps for the research agenda. Design/methodology/approach: This review analyzed 95 articles on boards of directors in Brazil between 2000 and 2019. The review was conducted in three major steps: 1. planning; 2. conducting; and 3. organizing the data and reporting the findings. Findings: There is a growing interest in studying boards of directors in Brazil, with a wide range of topics. The most studied are board compo­sition, best practices, diversity and gender. Despite the diversity, the previous studies are homogeneous in theoretical and methodological terms. Based on the agency theory, most articles sought to relate board demography to financial performance, and the findings are not convergent. This scenario opens up some research avenues to address topics that have not yet been explored, such as board processes, board tasks, and differentiation between board performance and company performance.

ABSTRACT Purpose: To investigate the impact of the irregularities under analysis and/or judged in the sanctioning administrative proceedings of the Securities and Exchange Commission on the market value of Brazilian companies. Thus, we used the signaling theory to analyze how stakeholders interpret situations and where the available information is asymmetric and incomplete among market agents. Originality/value: The study was based on the assumption that the conviction within the scope of the regulatory body can negatively affect the company’s reputation and value. Empirical evidence indicates that irregularities affect market sentiment. On the other hand, the company can present a better market value if an effective and efficient corporate governance is established, aligning the interests of stakeholders and management. Design/methodology/approach: Information was collected with quarterly data covering the period from 2010 to 2018. Two hypotheses were tested by means of regression analysis in OLS with pooled data, panel - fixed effects and 2SLS. Findings: The results indicated that the irregularities, in the analyzed period, did not impact the companies’ market value in the estimation by MQ2E. We suggest to the chief executive officer (CEO) and the chief financial officer (CFO) that they assess the level of corporate governance of their companies and invest in the search for excellence since the best levels of governance bring a positive signal to the market. The CEO is advised to pay attention to the fact that good governance is not enough to keep companies from being irregular.

ABSTRACT Purpose: For the stability of the organizational environment, corporate governance has become an indispensable condition. By adopting corporate governance codes, companies seek to compete differently in the market, valuing transparency as a guiding principle of relationships established in the various business segments. This article aims to compare the characteristics of corporate governance codes adopted by Latin American countries, including Brazil, Mexico, Argentina, Colombia, Chile, and Peru, through the set of practices recommended by the UN. Originality/value: The article studies the adoption of corporate governance codes adopted by Latin American countries, including Brazil, Mexico, Argentina, Colombia, Chile, and Peru. Design/methodology/approach: This is a qualitative and quantitative descriptive study. The data were analyzed in-depth using content analysis techniques and complemented by hierarchical cluster analysis, with the Ward method, using the Jaccard and the Russell and Rao methods. Findings: It was found that the corporate governance codes issued by Brazil, Colombia and Argentina converge with the UN guide. While the corporate governance code issued by Peru partially converges. The observed convergence suggests a concern with the demands of international investors. Finally, it was found that the corporate governance codes issued by Chile and Mexico have low convergence with the UN guide. This represents the lowest level of convergence between the countries investigated, indicating a greater concern with the local context than with international standards.

ABSTRACT Purpose: Explain the causes of inefficiencies in asset pricing on the Brazilian stock exchange through the behavioral finance hypothesis. Originality/value: Research made in the stock market over the last decades suggests that there is evidence of obtaining returns above the market average, through the purchase of undervalued assets, that is, when it has a low relation between the price and the fundamentals of the company. However, there is a notable discrepancy regarding the interpretation of causes among academics. The efficient markets hypothesis was presented, which is based on the premise of the strict rationality of economic agents. On the other hand, the behavioral finance theory was also discussed, which presents different assumptions. Design/methodology/approach: Using the historical quotes of the shares traded on B3, extracted from economática(r)'s database, the present work used the Magic Formula methodology to investigate the behavioral effect through the inefficiencies found in the pricing of these assets. Findings: The results suggest that the Brazilian stock market, in conformity with works of the same nature performed in markets in other countries, has inefficiencies in the pricing of assets, so that it is possible to obtain advantages from economic agents. The interpretation for the causes of such inefficiencies is based on the premises of behavioral finance, and points to the existence of a limitation in the rationalization of these agents.

ABSTRACT Purpose: This research analyzes the influence of interorganizational learning (IOL) on the absorptive (Acap), potential (Pacap) and realized (Racap) capacities on the environment of small and medium enterprises (SMEs). Originality/value: The study contributed to the understanding and expansion of IOL research operationalized through the elements of Acap. The understanding of these elements are fundamental for the development of competencies of SMEs from Brazil and/or emerging countries embedded on dynamic sectors and high technology mobility to adapt and develop new dynamic capabilities. Design/methodology/approach: The research was conducted by a survey with a sample of 215 organizations of the information technology and communication (ITC) sector in the State of Santa Catarina, Brazil. The data were analyzed using the structural equation modeling technique. Findings: The results showed that the relationships of IOL influence the development of new capabilities and have a strong influence over absorptive capacity development. The organizations ability to acquire, assimilate, apply and internalize the available knowledge in the sector through interorganizational relations was fundamental for their adaptation and survival.

ABSTRACT Purpose: To describe the characteristics of the phases that make up the evolution of knowledge, such as, innovation, social innovation, inno vation oriented to sustainability, organizational sustainability and absorptive capacity, as well as their correlations. Originality/value: It provides a panoramic view of the potential of absorptive capacity relating it to social innovation, innovation oriented towards sustainability and organizational sustainability. It addresses related themes and concepts that incorporate strategies to achieve organizational sustainability and have been gaining more importance and space between these discussions. Three scientific databases were used to select the articles: Scopus, Web of Science and SciELO. Then, to support the main concepts, theoretical references from more recent scientific studies were needed, which could contribute to clarifying the terms and definitions. Design/methodology/approach: This is a narrative bibliographic review. Works characterized by broader discussions were used, ideal for identifying and describing the conceptual state of a specific theme. Findings: Through the researched articles, it was possible to explore the characteristics of innovation, innovation oriented towards sustainability, and social innovation, which guide the values of society and influence the strategies of organizations more and more, thus, observing and understanding the absorptive capacity as a fundamental instrument for the strategies that ensure organizational sustainability.

ABSTRACT Purpose: The main purpose of this study was to investigate the impact professional fulfilment has on aspects of positive psychology, such as subjective well-being and flourishing at work. Originality/value: We analyse whether professional fulfilment, as a career aspect, influences only work factors, such as flourishing, or if it also contributes to subjective well-being in life. Additionally, few studies have focused on professional fulfilment because of its novelty. Therefore, this study contributes to advancing a new concept, as well as to the development of new models and theories in positive psychology. Design/methodology/approach: This is a quantitative, survey-type research study involving 358 participants who have a wide variety of jobs and professions. The questionnaire presented subjective well-being, flourishing at work and professional fulfilment scales, as well as socio-demographic questions. Data were analysed using bivariate correlations and multiple regression analysis. Findings: Results indicated that professional fulfilment predicts higher subjective well-being and flourishing at work. Therefore, the more people perceive they have achieved what they value in their career and demonstrate positive goal progress, the more they experience well-being in life in general and the more they flourish at work. There are major positive relationships between career goals, well-being and flourishing at work, which is consistent with previous studies. Future studies could analyse under which specific contextual conditions the pursuit of career goals has a higher or lower impact on subjective well-being and flourishing.

ABSTRACT Purpose: Evidence indicates that career adaptability and engagement are characteristics that improve coping with challenges inherent in a military career. Job satisfaction appears as a variable that interacts with both because it improves the maintenance of performance. The objective of this paper is to examine a psychological network (PN), including these variables. Originality/value: The interaction among these is well documented in the literature; nevertheless, it has not been researched in the context of military education. Information on the network can provide important insights for the development of strength-based training directed towards highly influential behaviors and attitudes of students. Design/methodology/approach: The research design was sectional and based on a quantitative analysis framework. A total of 962 male students from the second (n = 323; 33.6%), third (n = 345; 35.9%), and fourth (n = 294; 30.6%) years of the Academia Militar das Agulhas Negras (Aman), between 18 and 26 years old, completed our survey. Instruments included a demographic questionnaire, Job Satisfaction Scale, Career Adaptabilities Scale, and Utrecht Work Engagement Scale for Students. PNs were estimated for the complete sample and also for every academic year. Findings: One of our main findings indicates that the PN tends to lose connections across the academic years, especially considering job satisfaction and engagement items. Aman students might experience a natural process of disconnection from the academic environment and, therefore, constructs showing, for example, engagement for students lose configuration as a graphical community. A longitudinal study is needed in order to confirm differences detected among students from different years.

ABSTRACT Purpose: The purpose of this study is to verify the financing decisions by Brazilian companies in the financial crises of 2002, 2008 and 2015, and to identify the impacts of these crises, as well as the influence of the funding sources - banking, subsidized sources and capital markets - on the leverage and maturity of companies' debts in these periods. Originality/value: Crises establish opportunities for the study of determining factors and their impacts on companies. There is no empirical evidence on the impacts of crises on the capital structure of Brazilian companies taking into account the comparison between the crises of 2002, 2008 and 2015, which motivated the present study. Design/methodology/approach: We performed descriptive analyzes and estimated regressions by panel data. Findings: The results showed a statistically positive relationship between financial crises and corporate leverage, as well as short and long-term debt. With regard to leverage, banking resources, resources from capital and subsidized markets showed a statistically positive relationship with the level of leverage of companies only in the 2008 crisis. Considering the maturity of debts, the 2002 crisis was an important determinant for companies' short-term debt decisions, in view of the predominant participation of banking resources at that time. Financing sources were important in determining companies' long-term indebtedness in the 2008 crisis.

ABSTRACT Purpose: This research examines the superiority of analysts over random walk models in forecasting the results of publicly-traded Brazilian companies in the short and long term. Originality/value: The literature indicates the uncontested superiority of market analysts because of their temporal and informational advantages. However, recent international studies call for a re-evaluation of this superiority, indicating that, for certain company characteristics, and primarily for long-term estimates, the superiority of analysts is not confirmed. Design/methodology/approach: This work evaluates the profit forecasting of analysts and simple and growth random walk models over the short and long term over 2010-2015 for publicly traded Brazilian companies, using the information available for the period with annual intervals. Findings: The results indicate: 1. the greater forecasting accuracy of simple random walk models compared to the growth random walk models; and 2. the greater forecasting accuracy of random walk models overall, with analyst forecasts only being superior for cases with three months of lag. The evidence suggests the forecasting superiority of the random walk models when compared to the market analysts' forecasts. The results suggest low efficiency of the forecasts of market analysts for the forecast of future results of publicly traded Brazilian companies in the analyzed period.

ABSTRACT Purpose: This study aims to analyze the influence of entrepreneurial passion and creativity on entrepreneurial intent. It also examines the mediating role of entrepreneurial self-efficacy between the personal/cognitive variable and entrepreneurial intention. Originality/value: By stressing the importance of cognitive and emotional variables that may influence entrepreneurial intentions among university students (such as creativity and entrepreneurial passion), this study shows the important role that universities have in the development of entrepreneurial intent. According to the Social Cognitive Theory (SCT), the environment influences individual behavior and, therefore, universities should encourage an entrepreneurial environment, enabling the creation of new jobs and companies. Design/methodology/approach: Data were collected through a survey with business and technology students from a Brazilian university. In total, 338 valid responses were obtained, which were analyzed through structural equation modeling. The data were collected in a cross-sectional manner and by a stratified and non-probability sampling method. To address the research hypothesis and to attain the objectives of the study, all constructs were adapted from relevant literature in the field of entrepreneurship. The structural model was examined in relation to the model fit, which enabled the hypothesis to be tested. Findings: Results showed both a direct and indirect positive relationship between entrepreneurial passion on entrepreneurial intention. Regarding the creativity factor, results indicated only an indirect effect of creativity on entrepreneurial intention, this relationship being mediated through entrepreneurial self-efficacy. No significant differences were found in the model regarding age, gender, graduation program, entrepreneurial family background, role models or family income.