Repositório RCAAP

ABSTRACT Purpose: This article has two main objectives: to measure the level of financial well-being (FWB) of the beneficiaries of the Minha Casa Minha Vida program (PMCMV) and test the hypothesis that financial literacy is an antecedent of the FWB. Originality/value: Considering that there is still no universally accepted definition and measure for the FWB (Brüggen, Hogreve, Holmlund, Kabadayi, & Löfgren, 2017), this study seeks to apply the methodology proposed by the Consumer Financial Protection Bureau (CFPB) in Brazil, since the previous applications attempts of other scales showed great instability. Also, the hypothesis that the financial literacy is a antecedent of the FWB is tested. Design/methodology/approach: To measure the FWB, the scale developed by the CFPB was used. Financial literacy was built from the three dimensions proposed by the Organisation for Economic Co-operation and Development (OECD), which are: financial behavior, attitude and financial knowledge. The instrument was implemented in 561 beneficiaries of the three funding ranges of the PMCMV. It was used for descriptive statistical analysis, confirmatory factorial analysis and multiple linear regression. Findings: The results indicated that the majority of the beneficiaries of the program present medium-low and medium-high levels of FWB. The hypothesis that financial literacy is an antecedent of the FWB was confirmed, and all three dimensions had a positive impact. Levels of income also presented a positive influence, whereas the fact of having dependents had a negative impact. The BEF measure proposed by the CFPB seems adequate to the Brazilian context. And advances in the national financial literacy strategies tend to increase the FWB of the Minha Casa Minha Vida program.

ABSTRACT Purpose: To understand the processes of territorialization in the daily life and work routine of settlers in Querência do Norte, Paraná, Brazil. Originality/value: This work contributes to the context of discussions on territory and territorialization processes (Haesbaert, 2011; Raffestin, 1993, 2008; Saquet, 2008) in the daily life (De Certeau, 2014) of workers marginalized by society in general. Design/methodology/approach: We developed this qualitative article from data collected through eight life history interviews with settlers, pre-settlers, and residents of Querência do Norte, in the State of Paraná (PR). After transcribing the interviews, they went through an analysis of narratives. Findings: We identify that, through the practices of work, study and claims, the settlers territorialize the space, and there they create their own rules and norms of coexistence. In their struggles for land, it is clear that their place of belonging is the field, justifying the insistence on the struggle for the right to land to cultivate. The sense of belonging of the workers is represented by the struggle that unites them and places them as part of a larger movement. Placing men at the center of the construction of territoriality is accomplished through the daily struggle and work of the settlers and pre-settlers in Querência do Norte (PR).

ABSTRACT Purpose: To analyze the conceptual relationship between entrepreneurship and the Uber driver since the company is the pinnacle of a new way of organizing work. It is argued here that, contrary to what is used in numerous articles and in the media, the Uber driver is not an “entrepreneur” but a precarious worker with flexible facilities. Originality/value: With the emergence of a new type of employment contract that is referenced in the labor relations of the company Uber, it becomes necessary to discuss the impacts of this new organization of labor. The conceptual discussion about the framework of the Uber driver is still incipient in the field. The research contributes to a better understanding of the discourse that the worker understood as an entrepreneur legitimizes exploitation. Design/methodology/approach: This is a theoretical-analytical article. Historical and theoretical literature was used to weave how the concept of entrepreneurship emerges historically and changes over time. Also, Uberized labor is compared to Taylorism and Toyotism. Findings: It demonstrates how the Uber driver cannot be considered an entrepreneur in any of the historical concepts. It is also demonstrated that the driver is a precarious employee, with flexible time and automated management, incorporating elements of the work organization of both Taylorism and Toyotism.

ABSTRACT Purpose: Analyze the thematic evolution of the research field on sustainable consumption from 1999 to 2019. Originality/value: The study advances the understanding of the development of the research field on sustainable consumption, analyzing the main publications and topics covered. Design/methodology/approach: Systematic literature review through a bibliometric study with analysis based on citations supported by the CitNetExplorer software, using core publication and clustering techniques. Two hundred sixty-four articles were analyzed. Findings: The most recent publications converge on the need to change the current patterns and levels of consumption and to engage dif- ferent stakeholders in participatory and co-creation processes. Also, the existence of five research clusters was identified, namely: 1. eco-efficiency with a focus on greening the market; 2. consumer behavior with an emphasis on encouraging the purchase of green products; 3. social nature of consumption that inserts the sociological perspective; 4. dynamic approach for considering the interdisciplinarity of the field; and 5. the role of education for sustainable consumption. The various themes found reveal contributions from different areas of knowledge and the importance of developing research that integrates the dynamics of the challenges to achieve sustainable consumption. We emphasize the need for an integrated approach due to the inherent complexity of the theme that involves economic, technological, political, social, psychological, and environmental aspects for governance in favor of sustainable consumption.

ABSTRACT Purpose: The study aimed to identify the effects of the Car Wash Operation on the Brazilian capital market, focusing on the state-owned company Petróleo Brasileiro S.A. (Petrobras), including in the analysis other publicly traded companies that belong to the oil and gas sector. Originality/value: This research is relevant because it advances in discussing the influence of the Car Wash Operation on the stock price in the Brazilian context. This study contributes to revealing the use of the Google Trends tool to measure market attention and its effects. Design/methodology/approach: This is a quantitative research based on evidence of the volume of research in relation to the movement of the stock prices. The sample consisted of data from Petrobras and other companies belonging to the oil and gas sector in the period from January 2, 2013, to December 28, 2018. The most relevant dates were defined through the search volume index for the terms “Car Wash” and “corruption”, obtained from the Google Trends tool. The GARCH model (1,1) was adopted in the estimates. Findings: The results obtained from the dummies inserted to capture the abnormal returns showed a significant reaction in the behaviors of the assets. The flow of capital seems to have opted for assets of greater confidence than PETR3 and PETR4 in a few weeks of the Operation. This work showed that, in general, the outbreak of the Car Wash Operation influenced and brought some instability to other companies in the sector.

ABSTRACT Purpose: Against the backdrop of the transaction costs and theoretical strands of thought in authors of the strategic logistics management (SLM), operational performance (OP), and the internet of things (IoT), the purpose of this study is to verify if the IoT performs a mediating effect on the relationship between SLM and OP. Originality/value: The bibliometric study indicated that studies on the IoT aimed at the business area are still scarce. Therefore, there is a prospect of expansion of the knowledge frontier of the administration field. This article seeks to show whether the IoT has a mediating influence on the relationship between SLM and OP, in addition to highlighting the most significant variables of each construct. This study can help business managers and researchers to identify the benefits of adopting IoT. Design/method/approach: For that, a quantitative research was carried out. The research collected data through a semi-structured questionnaire with a sample of 76 companies. Data were treated by descriptive statistics and multivariate statistics with the modeling technique in structural equations. Before the application of the modeling technique in structural equations, data were submitted to tests of convergent and discriminant validity. Findings: The IoT plays a mediating but partial role in the relationship between SLM and OP. Implementing the IoT provides better efficiency by enabling proactive decisions, interconnecting resources, automating, streamlining, remotely controlling, generating customer information, and eliminating errors.

ABSTRACT Purpose: To identify and analyze differences in the tasks, knowledge, and social features of the work of civil servants of the Superior Court of Justice, and, secondarily, to verify the factorial, convergent, predictive, and discriminative validity of the Work Design Questionnaire (WDQ) in the Brazilian Judiciary context. Originality/value: With the WDQ’s development, the work design became the subject of further studies all around the world. Also, in Brazil, since its translation and adaptation, this variable has caused great repercussions in people management, becoming the first study within the scope of the Brazilian Judiciary. Design/methodology/approach: Through a survey sent to 2,898 civil servants, 895 responses were obtained and subjected to descriptive statistical analysis, confirmatory factorial analysis, reliability analysis, Kendall’s tau correlation analysis, and the Kruskal-Wallis test. Findings: The most indicated work feature was social support, and the least indicated was interaction outside the organization. Special knowledge was most required from professionals with higher education. For the men, there were more problem solving, specialized knowledge, and decision-making autonomy in their work. Civil servants who work in judicial activities claimed to have more meaningful tasks. Managers claimed to have less autonomy in planning their tasks, as all other civil servants stated that their work has a more definite beginning, middle, and end. In a public body of great size and complexity, work features are differentiated by their sociodemographic and functional variables, requiring customization in the management practices of people and organizational policies.

ABSTRACT Purpose: Web 2.0 technologies have enhanced relational dynamics in fan communities. Indie music fans significantly identify themselves with the genre and participate in these communities within a music industry reinvention scenario. Based on the Foucauldian perspective, by sharing knowledge about media products, fans manifest truths capable of expressing subjectivities - parrhesia, a way of mutually affecting different truths. Thus, the aim of the present study is to analyze how parrhesia is operated in interactions among indie music fans. Originality/value: The present research expands an important theoretical-investigative path in the consumer culture theory (CCT) field by adopting Michel Foucault’s later theoretical cycle, which addresses the construction of subjectivities. Design/methodology/approach: Netnography of interactions among indie music fans was carried out in one of the largest online discussion forums on the topic. Findings: Heated discussions observed in the investigated community often create a split that shows a dispute focused on defining what being an indie music fan means. Based on disruptive parrhesia anchored in moral backgrounds associated with erudition and collectivism versus hedonism and individuality, self-declared true fans and those who seek fun establish alter-subjectivities as hipsters and posers.

ABSTRACT Purpose: We analyzed the impact of board directors with foreign expe­rience on the accounting and market performance of companies listed on the Brazilian Stock Exchange (B3). Originality/value: We show unpublished empirical evidence about the relationship between the foreign experience of board directors and the performance of Brazilian firms. Knowing this relationship better contributes to the formulation of internal policies for the qualification of senior management, in addition to being valuable to shareholders, especially in a context of weak legal protection, as it is in Brazil. Design/methodology/approach: We collected data from 230 companies between 2010 and 2016, submitted it to unbalanced panel data regressions using the Systemic Generalized Method of Moments (GMM-Sys). Findings: The results suggest that the higher the proportion of board members with academic and professional foreign experience, the lower their accounting and market performance. This finding can be justified by institutional isomorphism, in which having an experience abroad would be a myth, a status institutionalized by the Brazilian society. In addition, foreign owners and directors face cultural barriers and would have less knowledge of the local environment, which would increase information asymmetries, impacting negatively in firms’ performance. On the other hand, an increase in the number of foreigners on the board positively influences the market value of companies, since, by having weaker local power networks and, consequently, less possibility to obtain private benefits, the investors could value companies with this characteristic.

ABSTRACT Purpose: A major thread in accounting literature, which has remained a contentious issue, is how accounting alchemy can be modeled. The paper builds on existing accrual models in proposing an accounting alchemy model and tests if it is still the right medicine for earnings and book value of firms. The accounting alchemy model was based on mechanisms of earnings, book value, earnings before extraordinary items, net profit after tax, cash flow from operations, revenue, and total assets. We modified accrual models on the view that accrual models suggest that incomes/expenses are the most manipulated; contrarily, accounting alchemy proposes that assets are alchemized. Originality/value: This paper proposes a new empirical model of accounting alchemy and practically assesses the validity of the model in Sub-Saharan Africa, where there are no studies. The proposed accounting alchemy model can be used in Asia, Europe, and other parts of the world to see if the study results can be replicated. Design/methodology/approach: Ex post facto design was used, and secondary data were obtained for selected quoted firms in Sub-Saharan Africa comprising Nigeria, South Africa, and Kenya from 2012 to 2016. A sample of 64 firms was selected in the consumer and industrial goods subsector, and data were analyzed via descriptive (mean, standard deviation, correlation) and inferential (regression, fixed, and random effects) statistics. Findings: Findings indicated that earnings and book value are significantly affected by accounting alchemy. This implies that accounting alchemy is not the right medicine for firm’s earnings and book value. The result has practical application for researchers and the regulatory framework of accounting.

ABSTRACT Purpose: To investigate whether the shareholder concentration and the board composition influence the export of Brazilian listed firms from 2010 to 2017. Originality/value: The study contributes to the literature on exports and corporate governance by highlighting that companies with good governance practices, measured by the board composition and ownership/control structure, might increase their exports. This research can serve as a guide for companies to structure their boards in order to positively influence exports and improve performance. In addition, the study raises the question of what would be the “optimal level” of firms’ shareholding concentration in order to improve the decision-making process involved in choosing to expand borders through export. Design/methodology/approach: The study performed logistic regression (logit model) and regression with the censored dependent variable (tobit model). Propensity to export and intensity of export were used as dependent variables. The logit regressions involved a sample of 307 exporting and non-exporting companies, and the tobit regressions involved a sample of 61 exporting firms. Findings: We found a positive relationship between board independence and exports, that is, the greater presence of independent members on the board, the higher the export level of firms. We also found that there is a non-monotonic relationship between shareholder concentration and level of exports. In summary, the study suggests that some corporate governance mechanisms may act as antecedents for firms’ export practices.

ABSTRACT Purpose: Interaction through the use of social media, smartphones, and online games is increasingly growing. Regarding games, it is estimated that part of the population spends more than 12 hours a week in interactions provided by online games. In this context, the objective of the present research is to study and deepen the connection between co-creation and gamification applied to the services sector. Originality/value: This research aims to contribute to the gap reduction in the existing literature in the areas of gamification and co-creation applied to the services sector. The fact that the research is applied to a peripheral region of Europe and to a different business sector contributes to a better understanding of the relationship established between gamified co-creation and the business sector in these types of regions. It also helps companies in the process of developing and implementing new strategies. Design/methodology/approach: By using a qualitative methodology, seven interviews were carried out in different companies located in Portugal and operating in the services sector. Findings: This research will allow a better understanding of the Portuguese business world and if this corporate environment is ready to work with new methodologies. It was possible to point out some good practices related to the implementation of a gamified co-creation methodology, as well as to provide an alert for the negative aspects that may arise when working under this approach. Companies acknowledge that the adoption of a gamified co-creation methodology brings some advantages and increases their competitiveness levels in the market.

ABSTRACT Purpose: The study explores the predictive relationships of the analytical dimensions of transactions and opportunistic behavior on the transaction costs of the Brazilian pharmaceutical retail market. Originality/value: The study contributes to the advancement of empirical research on the subject and proposes indicators modeled by structural equations to simultaneously estimate the effects of uncertainty, asset specificity and frequency of transactions, and opportunism in transaction costs. Design/methodology/approach: Transaction costs were estimated with indicators related to the costs of analysis, preparation, and adaptation of contracts; these are analytical dimensions of transactions with indicators that reflect the specificity of human assets and physical/dedicated assets, technological and market uncertainty, and the recurrence of transactions between partners. The data collected via an electronic questionnaire were processed with the technique of Modeling in Structural Equations. Results: Data processing demonstrated the significant influence of the frequency of transactions on opportunism and hence on transaction costs. It also confirmed the impact of uncertainty on ex ante transaction costs and the specificity of assets on ex post costs. The results denote the relevance of analytical dimensions in the theoretical framework of Transaction Cost Theory and the importance of frequency as a catalyst for opportunism. It can be used as a parameter in strategic actions to create reliable commitments and circumvent unforeseen contractual failures in the pharmaceutical retail market.

ABSTRACT Purpose: The aim of this research is to understand how the social-economic context influences the transformative potential of the sharing economy (SE). Originality/value: The literature on SE is still fraught with uncertainty. We have found that there is a paradox between generating social benefits to the community versus increasing social inequality. Design/methodology/approach: Data were collected from documentary analysis, netnography, participant observation, and interviews. The data collected were analyzed in the light of the theoretical framework proposed by Wittmayer et al. (2019) for the analysis of narratives related to social innovation. Findings: The produced narratives differ in terms of the type of platform (profit and non-profit). We have found that, in non-profit platforms, the economic and social context does not influence the transformative potential guided by the SE; for-profit platforms, on the other hand, the narrative of ‘income opportunity’ is context-sensitive. The main contributions of the research are the use of a theoretical framework of social innovation to analyze the narratives of the SE and the observation of contextual differences about the phenomenon, which should lead platforms and governments (in their regulatory role) to have different views on SE. We conclude that the narratives of the SE are different. For-profit platforms either do not take part or contribute very little to the phe nomenon of social innovation as a transformative process and, in the contexts of greater social-economic vulnerability, it can be a mechanism of worsening social inequality.

ABSTRACT Purpose: This research was based on the "happy, productive worker" hypothesis. The objective was to analyze the predictive relationships, through a multilevel approach, between the variables well-being at work, organizational justice, organizational support, and the dependent variable individual job performance. Originality/value: The multilevel study of individual job performance and its relations with well-being and organizational variables are still a current gap in the literature, as well as the possibility of testing whether well-being at work can be considered a collective phenomenon. The presence of organizational support in the model, operationalized at the team level, represents an important contribution to the development of theories focused on teams' roles in organizations, especially their impact on organizational variables. Design/methodology/approach: Considering the proposed analysis at two different levels, a multilevel design model was adopted. The final sample consisted of 730 individuals and 32 units. The data were collected through a questionnaire composed of four previously validated scales. Data analysis followed the six steps proposed by Hox, Moerbeek, and Schoot (2017) for multilevel models for each of the samples. Findings: The explanatory model presented a predictive relationship between achievement (well-being at work factor), operationalized as an individual-level variable, and individual job performance; a predictive relationship between interactional justice, also operationalized as an individual-level variable, and individual job performance, and a predictive relationship between collective perceptions of organizational support, operationalized as a team-level variable, and individual job performance.

ABSTRACT Purpose: The purpose of this study was to analyze the effect of investor sentiment on the volatility of the Brazilian stock market. Specifically, it aimed to identify if the asymmetric behavior of sentiment could be observed in emerging markets, considering companies that have characteristics that are difficult to price. Originality/value: Unlike most studies on investor sentiment, this study focuses on its impact on the stock market volatility, as well as on the characteristics of companies associated with difficult pricing. Design/methodology/approach: The volatility of the IBRX100 index was used to represent the Brazilian stock market, and as a proxy for investor sentiment it was selected Miranda's index (2018), based on market data. Data were estimated using the two-stage least squares (MQ2E) technique to address endogeneity problems. Finally, the volatility of companies with difficult-to-price characteristics was segregated to analyze their sensitivity to sentiment. Findings: The results indicate that sentiment has a negative and sig nificant relationship with the volatility of the Brazilian market, as well as evidences an asymmetrical behavior, being statistically stronger in pessimistic periods. Additional analyzes evidence that the explanatory sentiment capacity is sensitive to companies' characteristics, but only companies with a high book-to-market ratio showed asymmetric behavior, as expected by the literature. The portfolios segmented by size and illiquidity maintained an asymmetric behavior, but it was the volatility of the large companies and the less illiquid ones that were best explained by sentiment, indicating that the Brazilian market has distinctive characteristics in relation to developed markets.

ABSTRACT Purpose: This research aims to identify the probability of default of infrastructure companies considering the sector specificities of their activities. In addition, the work seeks to identify the application of structural variables of probability of default in a model in a reduced way in order to identify the significance of its use. For this purpose, we investigated 1,520 North American companies from six different sectors linked to infrastructure. Originality/value: The analyzes carried out to identify the probability of a company going bankrupt hardly consider its sectorial particularity. Although most models bring important inputs for risk assessment, most of them do not consider this sectoral view. Then, this work has as value and originality the contribution to fill this gap and identify the existence of sectorial differences in the analysis of default risk in infrastructure companies in the North American market in the period between 2006 and 2018. Design/methodology/approach: The study performed a logistic regression (logit model) using 11 model variables established in calculating the probability of default. It also used the variable distance to default as an explanatory variable in order to identify its ability to explain the researched phenomenon. Findings: The study identified that, in addition to the size of the companies, the distance to default variable is the only variable that can be applied with significance in all the analyzed sectors. In addition, it was identified that companies in the oil and gas sector have less sensitivity to this variable than companies in the other sectors.

ABSTRACT Purpose: This study aims to analyze how the Brazilian National Communications Agency (Agência Nacional de Telecomunicações – Anatel) and cellular operators in Brazil used ceremonial and discursive practices to build enforcement and compliance actions, adopted during a period of crisis in the cellular sector industry in 2012 when the legitimacy of the respective regulatory model and the regulatory agent were challenged, shaping a compliance trap situation. Originality/value: The work fills a theoretical gap by associating the normative-cultural perspective of regulation associated with organizational institutionalism, based on the assertion that the relationship between regulator and regulated is interactive and not unidirectional, allowing that enforcement mechanisms represent political efforts, realigning the interests of the actors within their institutional environments. Design/methodology/approach: The case study research strategy with a qualitative approach is adopted, studying the 2012 crisis in the cellular sector industry, with the collection of data from documentary sources and semi-structured interviews with participants in the process. Findings: The results show that, in the compliance trap situation, symbolic criteria can appropriate the speeches, producing texts and practices in favor of legitimizing the enforcement mechanisms and the respective compliance responses in view of the audience. Therefore, the compliance trap risk on the regulatory agent is mitigated to the extent that ceremonial and discursive practices manifest themselves responsively and gain political and cultural support, reducing social pressure on the legitimacy of the regulation model.

ABSTRACT Purpose: This paper discusses the relationship between absorptive capacity, external sources of knowledge, and innovation in the context of the power sector. In doing so, we follow the theoretical debate over absorptive capacity dimensions. We focus on the statistical testing of Zahra and George’s (2002) absorptive capacity construct to identify whether their dimensions find support in reality. We consider that the external environment encompasses both scientific and industrial sources of knowledge, which influence absorptive capacity. Originality/value: Zahra and George’s (2002) model initiated the debate of the absorptive capacity dimensions, and it is disseminated in literature. However, it is poorly tested. There is still a research gap related to the empirical validation stage of the absorptive capacity construct itself. Our research tries to decrease this gap, testing Zahra and George’s (2002) absorptive capacity construct in a Brazilian company’s context. Design/methodology/approach: The research design was quantitative. A survey was applied to 402 industrial firms. We used multivariate sta tistical techniques and the structural models were tested by Partial Least Squares (PLS). Findings: Zahra and George’s (2002) construct of absorptive capacity was proved, and innovation, as well as the external sources types of knowledge, are related to it. The absorptive capacity is contingent on types of external knowledge.

ABSTRACT Objectives: This article aims to describe how the personal values of members of specialized workgroups impact their intra-group relationships based on professional and personal trust. Originality/value: The contributions of this study are threefold: 1. the consolidation that the analysis of trust in work groups has different results in the instrumental (professional or reputation trust) and the experimental (personal or friendship trust) relationship when verifying difference in the predominance of personal values for each type relationship; 2. the use of the functionalist theory of human values and to the use of social network analysis techniques and in conjunction with classical quantitative techniques such as ANOVA and multiple regression; 3. the verification of personal values that contributes to the organization and how trust relationships are structured in the group. Design/methodology/approach: The present study is characterized as descriptive field research with a quantitative approach. A survey was conducted with 171 participants from the two tactical groups of the Brasília police, using the Basic Values Questionnaire (BVQ) questionnaire of functionalist values and a questionnaire with eight questions about the instrumental and expressive relationship. Confirmatory factor analysis was used to evidence the validity of the instrument, analysis of social networks (ASN) for trust relationships and ANOVA, and multiple regression for relationships between values and relationships. Findings: The tactical groups presented characteristics of more pragmatic personal values and with less appreciation of individualism, denoting characteristics of appreciation of execution and intragroup collectivism. The normative and supra-personal values were negatively related, respectively, to friendship and professional relationships, while the achievement value was positively related to both trust relationships.