RCAAP Repository
BALANCING WORK, STUDY AND HOME: A RESEARCH WITH MASTER'S STUDENTS IN A BRAZILIAN UNIVERSITY
ABSTRACT Purpose: Understand the tactics that nontraditional students use to manage the boundaries between work, home and study. Originality/gap/relevance/implications: The originality of this study relies on transfer of the focus from the conflict to the balance between work, home and study. It also breaks new ground by directing attention to the micro level of individual action, in contrast to a literature that traditionally studied organizational actions. Finally, it performs an innovative reading of the interface between work, home and study domains from the perspective of the boundary theory. Key methodological aspects: This qualitative study was held from 18 interviews that were recorded, transcribed and content analyzed, which revealed a list of individual tactics employed by respondents to reconcile the demands of work, home and study. Summary of key results: The analysis allowed us to identify 18 tactics that our respondents employ to negotiate the level of permeability between the boundaries between work, school and home. These tactics were classified as behavioral, communicative, physical and temporal. Key considerations/conclusions: The study revealed that students develop an active role by interpreting the expectations of the social actors from the home and work domains and from the institution where they study and adopt boundaries with degrees of permeability that enable a state of greater balance between these domains.
2022-12-06T14:07:35Z
ELLER,AMANDA MAGRI ARAUJO,BRUNO FELIX VON BORELL DE ARAUJO,DIANA ABREU VON BORELL DE
BRAZILIAN JEITINHO AND CULTURE: AN ANALYSIS OF THE FILMS ELITE SQUAD 1 AND 2
ABSTRACT Purpose: The present study tried to observe the representations of Brazilian jeitinho, typical of Brazilian culture, through the analyses of the movies Elite squad (Tropa de elite) and Elite squad: the enemy within (Tropa de elite: o inimigo agora é outro). Originality/gap/relevance/implications: The article corroborates the ongoing debate on the field and offers alternatives for the study of Business Administration, by using the film analysis as a technique. It is of utmost importance to evidence that analyses such as this one, contribute to Business Administration by, when well situated, aiding in the comprehension of themes and concepts, leading students and readers to obtain new reflections and new perspectives about the subjects in question. Key methodological aspects: The qualitative character is a methodological landmark of this work, which uses the technique of indirect observation to analyze the films. From the utilization of a reflexive methodology, we were supported by the categorization of the data analyzed, based on the "implications" of jeitinho, present in Massukado-Nakatani, Mussi and Pedroso (2009). For a better perspective of these implications, tables were constructed linking them to specific scenes in the films. Summary of key results: Jeitinho appears in the movies as a notable presence in the Brazilian culture, entering the realm of the organizations, which is the case of the Military Police, the organization presented in the analyses of the films. Key considerations/conclusions: Thus, it was possible to notice peculiarities of the Brazilian culture through the analysis of national productions, contributing, then, to the ongoing debate in the field, trying to offer alternatives to the study of Administration, especially in what concerns the absorption of the national culture in the organizations.
2022-12-06T14:07:35Z
MORAES,ALINE FÁBIA GUERRA DE GOMES,DANILO CORTEZ HELAL,DIOGO HENRIQUE
CAPITAL STRUCTURE OF BRAZIL, RUSSIA, INDIA AND CHINA BY ECONOMIC CRISIS
ABSTRACT Purpose: Verify the effects of the subprime mortgage crisis on firms with different debt levels. Originality/gap/relevance/implications: The study contributes to the literature by examining the financial capital structure of emerging market companies in a context of crisis, in addition to using a robust econometric tool - the quantile regression. Key methodological aspects: In this work, the quantile regression was used as an analysis tool, and this technique allowed to observe the impacts of the crisis not only in the average level of indebtedness of companies, but also in its extreme values. Therefore, this work is characterized as descriptive, and the analyzed relations are quantitative. Firms were analyzed in Brazil, Russia, India and China. Summary of key results: The results indicate financing strategies, according to the theories of Pecking Order and Trade-off as regards to the level of debt. Key considerations/conclusions: The survey concluded that firms have different financing strategies even in the same country. Thus, the financial performance of firms would be influenced by economic conditions in the country, as well as the existing debt level in each company.
2022-12-06T14:07:35Z
Silva,Edilson dos Santos Santos,Josete Florencio dos Perobelli,Fernanda Finotti Cordeiro Nakamura,Wilson Toshiro
RELATIONSHIP BETWEEN ORGANIZATIONAL SLACK AND INNOVATION IN COMPANIES OF BM&FBOVESPA
ABSTRACT Purpose: The goal of this study is to identify the relationship of absorbed, non-absorbed and potential slack with the innovation of companies of sectors members of the sectoral ranking of innovation in the Brazilian Index of Innovation (IBI) listed in BM&FBovespa. Originality/gap/relevance/implications: Organizational slack and innovation have been objects of study internationally, but still represent a research gap in Brazil. Also there were not identified studies using the intangible asset to measure innovation and the possible relations with the organizational slack measures. This theme can also support the strategic activities of organizations, such as contributing to the creation of competitive advantage. Key methodological aspects: Descriptive research with quantitative approach was carried out using financial data of 208 companies listed in BM&FBovespa classified as innovative according to the Index Brazil of Innovation. Information regarding intangible assets, used as metrics to measure the innovation, was collected from the Notes; and the data to calculate the measures of organizational slack were collected from Economática® database. Summary of key results: In the application of the panel data model, the results demonstrate a significant relationship between organizational slack and innovation. The potential and absorbed slacks impact significantly and positively the innovative process. Non-absorbed slack influences positively, but with relatively smaller impact compared to other measures. Key considerations/conclusions: It is concluded that the results indicate a relationship in greater degree of absorbed and potential slack and to a lesser degree of non-absorbed slack with the innovation of the companies surveyed.
2022-12-06T14:07:35Z
Murro,Eduardo Vinícius Bassi Teixeira,Guilherme Bittencourt Beuren,Ilse Maria Scherer,Luciano Márcio Lima,Gerlando Augusto Sampaio Franco de
COORDINATION OF JOINT ACTIONS IN MURIAÉ'S (MG) CLOTHING LPA
ABSTRACT Purpose: It sought to understand the coordination of the local production arrangement (LPA), especifically clothing production in the City of Muriaé, MG-Brazil. Originality/gap/relevance/implications: This study proposes the analytical model for comprehending how coordinating happens, as well as indicate relations between the elements that compose it, and the implications for the way in which these elements are manifested in a LPA context. It consists in an advance for understanding governance in LPA. We suggest means for systematizing the coordination of joint actions and mitigating challenges regarding means of production and means of coordinating. Key methodological aspects: A qualitative/descriptive research was performed, whose data was gathered through documents and partially structured interviews, conducted with twenty agents of said LPAs. The data was processed through NVivo® software and categorized by the content analysis technique. Summary of key results: It was found that the coordination is characterized by low levels of formality, integration and participation of the business representatives, management structure made of some entities and average integration and participation levels of the business representatives' part. Results that support other studies developed about the practice. Key considerations/conclusions: It was identified factors that allow us to grasp the complex reality and dynamics of a LPA, as well as criteria for systematizing and comprehending how coordination happens and pointing out its implication in the development [of local business]. Out of strategies devised, it will be possible to direct the activities of coordinators from others LPAs, fostering local business development.
2022-12-06T14:07:35Z
Antero,Cecilia Alves da Silva Tavares,Bruno Antonialli,Luiz Marcelo Lima,Afonso Augusto Teixeira de Freitas de Carvalho Gava,Rodrigo
GREEN MARKETING AS A MEDIATOR BETWEEN SUPPLY CHAIN MANAGEMENT AND ORGANIZATIONAL PERFORMANCE
ABSTRACT Purpose: The study aims to explore and describe the mediation of green marketing in the relationship between supply chain management and corporate performance. Originality/gap/relevance/implications: The prior intention was to fill an epistemological gap about green marketing. The presence of green marketing in regression decreases the magnitude of the relationship between supply chain management and performance in Brazilian construction companies. Key methodological aspects: The study was carried out using quantitative method with exploratory and descriptive purposes. An exploratory research was conducted through in-depth interviews with ten managers working in the construction business. A descriptive survey involved the application of a questionnaire answered by a sample of 133 respondents. Data was analyzed using descriptive statistics, linear regression and structural equation modeling. Summary of key results: Data showed that green marketing mediates, in part, the relationship between supply chain management and corporate performance. Key considerations/conclusions: As theoretical implications, the study reinforces positive correlations between the constructs used in the surveyed sector. It resorted to models previously developed that, combined, could be reproduced or falsified, in order to obtain, finally, convergent measurement models. As a practical application, it identified the involvement of employees in environmental issues, missions and visions with explicit statements on energy and water saving and green marketing initiatives to improve the corporate image, such as obtaining environmental certifications. In conclusion, it appears that the civil construction companies have room to improve the communication and image to stimulate both the supply and consumption of green products.
2022-12-06T14:07:35Z
Zampese,Ednei Rogério de Souza Moori,Roberto Giro Caldeira,Adilson
BETWEEN REWARD AND SUFFERING: THE BANK WORKERS' VIEW OF THE FLEXIBILITY DISCOURSE
ABSTRACT Purpose: To analyze critically the impact of the flexibility discourse on banking industry practices, from the perspective of bank employees. Originality/gap/relevance/implications: This research is relevant once it deals with the issue of flexibility from the point of view of the employees, a matter that is still being debated in the academia. It also tries to close a gap in the subject, namely on whether employees identify the use of the flexibility discourse as being an instrument of control. Key methodological aspects: The study used a qualitative approach and semi-structured interviews for its data collection. This data was analyzed using the content analysis method. Summary of key results: The transformation of bank workers' profiles, in order to be more flexible, has exposed them to perverse management practices and, encouraged by corporate discourse, they have ended up becoming high performance slaves. The bank employee is now primarily seen as a salesperson. Even though they are dissatisfied with their working conditions, the interviewees readily submit themselves to the pressures of work to maintain their standards of living. Key considerations/conclusions: Flexible practices are so embedded in the day-to-day work of bank workers that they do not perceive them as being tools of control or domination over them. Finally, the conclusion reached is that the prevailing ideology in society enhances the discourse of human resources management, which, in turn makes the flexibility discourse operational, as pointed out by Sennet (2008) and Gaulejac (2007).
2022-12-06T14:07:35Z
NASCIMENTO,REJANE PREVOT DAMASCENO,LÍGIA DO CARMO MARTINS NEVES,DIANA REBELLO
DIVERSITY: RECOGNITION OF THE DIFFÉRANCE OR TOLERATED DIFFERENCE? A STUDY ON THE PERCEPTION OF MINING AND STEEL PROFESSIONALS
ABSTRACT Purpose: To comprehend diversity on the organizational context. Originality/gap/relevance/implications: There are few critical studies on the subject, here grounded on the ideas of Derrida (2002) and on the theory of recognition of Honneth (2003). The comprehension of diversity is related to the construction of identity among individuals and refers to the concept of tolerance, enabling a discussion about recognition (or not) of differences. Key methodological aspects: Qualitative research, performed in organizations on the segments of mining and steel mill. Data were collected by focal groups submitted to discourse analysis. Summary of key results: It was found difficult to live with people of different groups. Diversity was also associated to difference and the topic recognition. It was evident that diversity should be managed in the organizational context, but the diversity that comes on the agenda of companies analyzed, including the HR practices, is the tolerable diversity. Key considerations/conclusions: Minority groups still lack of recognition, prevailing the valorization of a group over the others. To recognize differences is a challenging matter, considering the distance established between reflexive processes and the corporate practice. Finally, it is pointed out the need to promote actions that aim the equality of opportunities of treatment to the several groups present in the organization.
2022-12-06T14:07:35Z
LORENTZ,CACILDA NACUR CARRIERI,ALEXANDRE DE PÁDUA MAESTRO FILHO,ANTONIO DEL LIMA,LUIZ CLÁUDIO DE
EVALUATION OF BANK EFFICIENCY IN BRAZIL: A DEA APPROACH
ABSTRACT Purpose: The research aims to evaluate the efficiency of banks that operated in the Brazilian market in 2013. To achieve this goal, efficient banks were identified according to the production approach. To detect and explain efficiency standards, additional analyses were carried out related to: 1. capital origin, 2. size, 3. business segment, and 4. risk rating. Originality/gap/relevance/implications: The Brazilian literature on bank efficiency features several studies linking the efficiency of banks to capital origin and size. However, the relationship between efficiency and business segment has been poorly explored and the relationship between efficiency and risk rating is scarce. In this sense, this research contributes to the literature by exploring the relationship between efficiency and business segment, as well as the relationship between efficiency and risk rating. Key methodological aspects: The research uses a quantitative approach and employs the Data Envelopment Analysis (DEA) technique to calculate efficiency scores. The data were obtained from the Central Bank of Brazil (Bacen). Summary of key results: Federal public banks and large banks are, on average, more efficient. Banks operating in foreign exchange and retail, as well as banks with high credit ratings, also achieved high levels of efficiency. Key considerations/conclusions: Efficient banks proved to be more profitable, lent less money in proportion to their total assets, and received fewer complaints filed with the Central Bank of Brazil in 2013.
2022-12-06T14:07:35Z
CAVA,PATRICIA BENITES SALGADO JUNIOR,ALEXANDRE PEREIRA BRANCO,ADRIEL MARTINS DE FREITAS
IMPACT OF ADOPTING IFRS STANDARD ON THE EQUITY COST OF BRAZILIAN OPEN CAPITAL COMPANIES
ABSTRACT Purpose: This study aims to assess the impact of adopting IFRS standard on the equity cost of Brazilian open capital companies in the period of 2004-2013. Originality/gap/relevance/implications: The adoption of International Financial Reporting Standards aims to increase the quality of accounting information. Studies performed in Europe suggest that, after the adoption of the IFRS standard, there was a reduction in the equity cost of companies due to the reduction of information asymmetry and risk. Key methodological aspects: The equity cost was calculated using the capital asset pricing model (CAPM) adapted to the Brazilian case. The empirical strategy was the difference analysis in differences, comparing the results of companies that voluntarily adopted the IFRS with companies that adopted IFRS after the mandatory adoption period. Summary of key results: The results indicate that the adoption of the IFRS standard does not contribute to reduce the equity cost in Brazil. Key considerations/conclusions: Suggesting that the process of adopting the international accounting standard may take more time to impact the equity cost of Brazilian open capital companies, since the impact of IFRS is not related only with the adoption, but also with its use by companies and users.
2022-12-06T14:07:35Z
GATSIOS,RAFAEL CONFETTI SILVA,JOSÉ MARCOS DA AMBROZINI,MARCELO AUGUSTO ASSAF NETO,ALEXANDRE LIMA,FABIANO GUASTI
THE CO-PRODUCTION OF INNOVATION: A CASE STUDY IN A REHABILITATION HOSPITAL
ABSTRACT Purpose: Understand how the user, the provider/supplier and the decision maker interact in the innovative process, as well as identify how the co-production occurs. Originality/gap/relevance/implications: There is evidence that the innovation derives among other factors from elements that characterize the co-production. Studies involving co-production of innovation are scarce. This study contributes to increase the theoretical knowledge in innovation in hospitals, mainly regarding co-production of innovation. Key methodological aspects: It is a qualitative study with case study strategy. Data collection through interviews and documentary research. Analysis of the data by technique of content analysis. Summary of key results: The logic of product development is still applied in the development of technological solutions for the hospital, against the logic of services, involving the interaction of customer with supplier. The results also suggest the possibility of relationship between innovation capacity and occurrence of innovation, pointing out the need to test this relationship in future works. Key considerations/conclusions: It is necessary to understand and investigate the mechanisms that allow the interaction of users, from design to implementation of innovation. It is also important to investigate whether the elements that characterize the co-production are relevant to explain innovation in hospitals, because elements were identified related to the concept of innovation that deserves to be better understood, including in contexts of public and private hospitals.
2022-12-06T14:07:35Z
CARDOSO,REGIS SILAS SILVA FILHO,ANTONIO ISIDRO DA VIEIRA,LEAR VALADARES
PRACTICE GENEALOGY AND ITS IMPLICATIONS FOR STRATEGY AS PRACTICE
ABSTRACT Purpose: To map the converging principles of the various practice theories and present their implications for the research agenda of the strategy as practice. Originality/gap/relevance/implications: The research program of strategy as practice (S-as-P) is an intellectual heir of the studies based upon practices present in contemporary social theory. Field theoreticians reinforce the importance of a self-conscious application of the theory of practice, an ambition that requires an allegiance to the notion of practice. Facing this situation, the contribution of this work is: 1. to enable a first approach with the philosophical assumptions of the theory of practice; 2. to serve as a basis for a thorough examination of the research agenda of S-as-P; 3. to serve as inspiration for scholars to be concerned about the fundamental concepts of their researches. Key methodological aspects: Theoretical essay elaborated from a systematic review of the literature. Summary of key results: Review of critical concepts for the S-as-P (e.g.: notions of social/organizational reality, practice, agency, strategy and articulation of these concepts with influential visions in the field of strategy), showing their unique aspects - facing the procedural approaches in strategy and previous theoretical perspectives in the social sciences that use the word practice - and stimulating the development of research of ethnographic inspiration, cartographic or similar. Key considerations/conclusions: The effort undertaken is an attempt to bring to surface the assumptions that guide the turn of the practice, avoiding the reproduction of theoretical models, without understanding the principles on which they were drawn up.
2022-12-06T14:07:35Z
SILVA,EVERTON RODRIGUES DA GONÇALVES,CARLOS ALBERTO
THE SURVIVAL OF INTERORGANIZATIONAL NETWORKS: A PROPOSAL BASED ON RESOURCE DEPENDENCE THEORY
ABSTRACT Purpose: The purpose of this paper is to depict a theoretical proposal for analyzing the influence of three facets of an organization's dependence on the survival of interorganizational networks: on the environment, on the other members and on the network. Originality/gap/relevance/implications: This paper assists business leaders in showing the dependence tensions of enterprises on the market and networks. The understanding of relational changes and benefits provided by the network during its evolution also has an impact on enterprises' dependency. This paper is therefore original as it makes the contribution essential to a nascent stream of research. Key methodological aspects: The conceptualization of this study is based on the Resource Dependence Theory to direct network survival. The methodology of the paper is based on a theoretical essay for the formation of an analytical background of the subject. It presents an insight in a manner that sheds light on the subject and sets the stage for future research. Summary of key results: Does not apply. In this article, we did not make an empirical investigation. Key considerations/conclusions: The conceptualization of this study has been based solely on the Resource Dependency Theory to direct network survival. Furthermore, additional research is needed to empirically validate the framework.
2022-12-06T14:07:35Z
KLEIN,LEANDER LUIZ PEREIRA,BRENO AUGUSTO DINIZ
MICROBUSINESS DEVELOPMENT AND QUALITY OF LIFE OF MICROENTREPRENEURS'S FAMILIES
ABSTRACT Purpose: This paper aimed at verifying the influence of microcredit in the development of microbusinesses and in the quality of life of the microentrepreneurs' families, using the elaboration of a structural equation model based on the borrowers' perception. Originality/gap/relevance/implications: In the last 15 years, only 9.3% of the studies analyzed (national and international) covered the topic "quality of life after the access to microcredit". The general goals of the Brazilian National Oriented Productive Microcredit Program (PNMPO) do not mention quality of life, and gaps are yet to be investigated. Key methodological aspects: It was developed a quantitative research, with a probabilistic sample consisting of 250 microentrepreneurs, borrowers of microcredit. Descriptive statistical techniques and analysis of structural equation models were applied with the aid of the softwares SPSS and AMOS. Summary of key results: It was observed that the factor business management exerts positive influence on the access to the media, on leisure and on quality of life. The access to the media and to leisure activities exerts positive influence on the quality of life. The variables used herein, when associated in a predecessor form, explain 54.0% of the transformation in the quality of life of the families benefited. Key considerations/conclusions: The results show the Program preference in benefitting women and encouraging their economic activity. It has been found the absence of joint and several guarantee, but the need for a guarantor for the granting of the loans. The entrepreneurs mostly work in the informal sector, despite government incentives. Through the increase in purchases of consumer goods, education, health and leisure, it was confirmed the improvement in the businesses' and in the quality of life of the families, after the microcredits were granted.
2022-12-06T14:07:35Z
SILVA,WENDEL ALEX CASTRO FONSECA,RICARDO DE FREITAS SANTOS,ANDRÉIA DE OLIVEIRA
A SOLUTION THROUGH PRAXIS? REFLECTIONS ABOUT THE IVORY TOWER METAPHOR AND THE INDISSOCIABILITY BETWEEN THEORY AND PRACTICE IN ORGANIZATIONAL STUDIES
ABSTRACT Purpose: The aim of the current study is to use the Ivory Tower metaphor to discuss and question the false dichotomy between theory and practice, as well as the insufficient pragmatic and performative solution towards the market logic, and to problematize the concept of praxis as a possibility through critical approaches. Originality/gap/relevance/implications: 1. the Ivory Tower demonstrates the existence of a gap in the relation between theory and practice; 2. the essay is conducted according to critical approaches; 3. the Critical Theory has the potential to deconstruct the assigned and socially constructed meanings of the Ivory Tower. Key methodological aspects: This is a theoretical essay that dialectically explores the Ivory Tower metaphor. Summary of key results: 1. the organizational science linked to the instrumental logic makes no place for praxis; 2. the Traditional Theory does not allow thinking about the relation between theory and practice through praxis, because it polarizes such categories and gives primacy to practice by demanding performance and productivity from theory; 3. based on the Ivory Tower metaphor, it is necessary to make criticisms for the sake of praxis and not for the sake of the practice understood just as technical and instrumental utility. Key considerations/conclusions: We pursuit solutions to remove the dichotomies that take the dialectical nature away from reality; it is necessary (re)constructing new ways to get in and out of the tower on behalf of emancipation, in the permanent and inseparable relation between theory and practice.
2022-12-06T14:07:35Z
ALCÂNTARA,VALDERÍ DE CASTRO VALADARES,JOSIEL LOPES MACEDO,ALEX DOS SANTOS CAPPELLE,MÔNICA CARVALHO ALVES
WHAT TOMORROW BRINGS? EXAMINING A MODEL OF ANTECEDENTS OF CAREER EXPECTATIONS
ABSTRACT Purpose: Analyze if the perceptions about policies and practices on human resources management (HRM), well-being at work and expectations of organizational future act as antecedents of career expectations in the organization. Originality/gap/relevance/implications: The question "What will my future be in this organization?" is a relevant part of working life. Thus, it is important to assess which variables influence future career expectations. Based on theoretical contributions and previous surveys about career, well-being and HRM, the model tested coordinates variables that are analyzed in isolate by literature. Key methodological aspects: In this quantitative survey, 305 professionals from a government agency completed an e-questionnaire with scales validated in Brazil. Data were analyzed through structural equations models. Summary of key results: The effects of well-being at work and expected future in the organization on the career expectations were positive and moderate, in the first case, and strong in the second case. The effect of perceptions of HR policies and practices on career expectations was completely mediated by well-being at work and expectations of organizational future. Key considerations/conclusions: Results support the relations theoretically conceived or found in previous qualitative surveys. In practical terms, data suggest that improving HR policies and practices can increase well-being at work and expectations of organizational future and, finally, foster positive career expectations in the organization. Considering that the research was limited to one organization, future investigations should analyze the model in other organizations.
2022-12-06T14:07:35Z
VASCONCELLOS,VINICIUS CARVALHO DE NEIVA,ELAINE RABELO
MEANINGS OF VOLUNTEER WORK: A STUDY WITH MEMBERS OF A LUTHERAN INSTITUTION
ABSTRACT Purpose: To understand the meanings of volunteer work among members of a lutheran protestant church. Originality/gap/relevance/implications: This research adds to the field of knowledge of the meanings of work, especially because of the specific context studied. In addition, it extends the discussion on volunteering, by entering the management of religious institutions that are supported by the help of volunteers. Key methodological aspects: A qualitative approach to research was adopted and data were gathered in documents, interviews, and non-participant observation of the board meetings of a lutheran church synod in Southeast Brazil. The perspective used to analyze data was that the production of meanings is also a means for interpreting. Besides, using associating ideas mapping technique allowed the identification of categories based on the content and logical sequence of discourse. Summary of key results: The study found eight meanings of work: identification with the lutheran ethics; integrity and image of the institution; unit; conditions and willingness to participate; incentive from others; relation with the profession; pleasant relationship between a board of directors; and monitoring, support, and recognition. Key considerations/conclusions: The study revealed a better understanding for volunteering at a religious organization on how to think about ways to manage it. Also, it was realized that the experiences and interaction with others shape the individual and his or her relationship with the church, and that the meaning of work has a different relationship to each religion.
2022-12-06T14:07:35Z
BORCHARDT,PIETRA BIANCO,MÔNICA DE FATIMA
CORPORATE GOVERNANCE AND CAPITAL STRUCTURE IN BRAZIL: STOCK, BONDS AND SUBSTITUTION
ABSTRACT Purpose: To study the Brazilian bond and stock markets for testing the stock market development theory of Demirgüc-Kunt and Maksimovic (1996). Originality/gap/relevance/implications: This paper tests the substitution hypothesis of stock market development, from debt to stocks, in a context of improved corporate governance, by analyzing the data with cointegration techniques. The findings show that the rejection of substitution hypothesis, as the bond market has a positive and significant association with stock market improvements. The findings also show that improving the quality of corporate governance could lead equity capital and borrower capital sources to be complementary and not substitutes, suggesting that Brazilian stock market reform has created a virtuous development cycle. Key methodological aspects: Positivist research using quantitative methodology. Data from a sample of 171 firms during 20 years, analyzed with cointegration. The null was a negative association between bond and stock markets. Summary of key results: Null rejection, non-consistent to theoretical framework. The results have shown a positive and significant association between stock and debt in an improved corporate governance context. Key considerations/conclusions: Improving the quality of corporate governance could lead equity capital and borrower capital sources to be complementary, and not substitutes, suggesting that Brazilian stock market reform has created a virtuous development cycle.
2022-12-06T14:07:35Z
RIPAMONTI,ALEXANDRE KAYO,EDUARDO KAZUO
MODELING THE NEW FRANCHISE CREATION DECISION: THE RELEVANCE OF BEHAVIORAL REASONS
ABSTRACT Purpose: Franchising is one of the fastest-growing operating modes in Brazil. In 2014, the Brazilian Franchising Association reported 2,492 active brands in the country. Some theories with an economic point of view, such as the agency theory, plural forms theory, or scarcity principle, explain why companies choose franchising. However, did the decision makers and founders of these franchises decide on this strategy taking only economic reasons into consideration? The purpose of this study is to understand the a priori criteria (prior to the decision) that executives took into account when adopting this strategy and the key motivations for this decision. Originality/gap/relevance/implications: The literature emphasizes the economic reasons for the success of the franchise model, but it does not focus on the founders' motivations when they choose this strategy. This is the gap that this study seeks to address. Dissonance could arise between economic reasons and entry motivations that could result in consequences for the management of new franchises. Key methodological aspects: Ten companies of different industries and different life cycle stages involved with the franchise model were scrutinized using a semi-structured questionnaire based on the literature on decision theory and franchising. Summary of key results: Behavioral factors significantly influence decision makers when choosing the franchise model. Key considerations/conclusions: This study distinguishes the economic reasons from the executives' motivations when choosing the franchise model and highlights the importance of non-economic factors in this decision.
2022-12-06T14:07:35Z
AGUIAR,HELDER DE SOUZA PAULI,SERGI YU,ABRAHAM SIN OIH NASCIMENTO,PAULO TROMBONI DE SOUZA
FRANCHISEE ASSOCIATION AND ITS MEDIATION OF RELATIONSHIP
ABSTRACT Purpose: The objective of this research is to understand the actions undertaken by Franchisee Associations (FAs). We aimed to: 1. identify the role played by FAs regarding their relationship with franchisors; 2. understand conflict procedures alongside with franchisors (by means of FAs); and 3. identify FA's abilities to play a relevant governance role in franchisee-franchisor relationships. Originality/gap/relevance/implications: This research complements the researches of Dandridge and Falbe (1994), Cochet and Ehrmann (2007), Lawrence and Kaufmann (2010, 2012), bringing up other perspectives regarding practices in managing relationships, and governance methods proposed by the FA, which are aspects not deeply analyzed in other FA studies. Key methodological aspects: Qualitative research with multiple case studies involving data triangulation. The sample of this study comprised the franchise chain Skill Idiomas, and the interviews involved four Directors, six Franchisees and the Skill franchisor Executive. Summary of key results: There is a strong sense of trust only among some of the network members, as well as a partial cooperation among them. With reference to the governance, one may point out that the rules and the penalties that compose their policies are well known and applied. The influence of the leaders that form the association's board of directors and the voting process in FAs is a determining factor for the resolution of conflicts. Key considerations/conclusions: The lack of trust represented by the other part of the association board and the franchisees indicate that most part of the involved actors does not trust the network of the association. The influence of leaders that compose the membership of the Board was a determining factor in conflict resolution. The way of governance exercised by the FA is applied for all members when rules are infringed.
2022-12-06T14:07:35Z
SILVA,TELMO JOSE MAGALHÃES DA MELO,PEDRO LUCAS DE RESENDE ESTEVES,KAREN GOMES,GIANCARLO