RCAAP Repository

ABSTRACT Purpose: Analyze the motivational types of human values prioritized by representatives of Municipal Social Assistance Councils in the municipalities of State of Minas Gerais, in an attempt to establish the axiological profiles of study participants. Originality/gap/relevance/implications: The study is based on Schwartz's (1992) theory of human values, applying its contributions to understand a reality yet unexplored in research of values, namely the Social Assistance Councils in Brazil, notwithstanding the recent transformations aimed at changing their conception as public policy. Key methodological aspects: Data were collected applying the PQ-21 questionnaire to a sample of 204 respondents. Descriptive analyses, the Anova test and cluster analyses were used. Summary of key results: The motivational types most emphasized by the respondents were Benevolence and Universalism, followed by Self-direction, Tradition and Security, revealing the recognition of interests of social groups and the community, in addition to the need to affirm one's own ideas and preserve traditional and safe practices. Five axiological profiles were identified from cluster analyses, and in four out of these, Self-transcendence was the key characteristic. Key considerations/conclusions: The relevance attributed to Self-transcendence and Conservation, in that order, indicates a certain concern with social well-being and political participation, though with a tendency to accept and maintain traditional practices, which may hinder the transformation processes in the context under study. Future studies may clarify these relations, benefitting from the complementary use of a qualitative survey.

ABSTRACT Purpose: This study sought to examine the extent to which the internet it is utilized as a tool for the disclosure of corporate information, facilitating the transparency of companies in relation to their stakeholders. Originality/gap/relevance/implications: This study differs from previous as it fills a gap in the literature to relate a disclosure measure on the internet with the risk and return of companies in Latin America, since this literature is only possible to identify studies that analyze these variables independently or with respect to other factors. Key methodological aspects: The sample included 758 companies listed on four major exchanges in Latin America (Argentina, Chile, Brazil and Mexico), and its disclosure level was quantified and its relationship with risk and return were verified by Tobit regressions. Summary of key results: The results show that it is possible to observe that the issue of ADRs, the size and liquidity affect the relationship between disclosure, risk and return. Also, the disclosure has advanced in the region over the years, especially in Brazil. However, no significant differences were identified between the countries, to the point of impact relations with the risk and return of companies. Key considerations/conclusions: The main contributions are the expansion of evidence on these variables, relating them to each other in emerging markets.

ABSTRACT Purpose: To analyze the predictability of Google's search queries in the Brazilian financial market. Originality/gap/relevance/implications: Despite a growing foreign literature using Google's search query data, there is no acknowledgement of work on this area in Brazil. An application to the Brazilian financial market shows new sources of information about market movements and may contribute to researchers and practitioners to understand how changes in specific search queries affect the market. Key methodological aspects: Following previous studies, we estimate VAR models and Granger causality tests to investigate the effects over three variables in both stock and fixed income markets: traded volume, return and volatility. Following this procedure, we verify both the hypothesis of financial variables being affected by search queries, as well as the opposite relationship. Weekly data from Google's search queries and financial markets was gathered for the period between 2007 and 2014. Summary of key results: The existence of a predictive effect between search query data and financial variables, particularly in the stock market, is evident. However, this result was not robust in all cases studied. It is noteworthy that, for the inverse relationship, i.e. financial market impacting search queries on Google, strong evidence of a causal relationship has been found. A trading strategy based on this type of data yielded higher returns than the defined benchmarks. Key considerations/conclusions: A significant relationship between Google's search query data and the financial market has been discovered. Results provide a new source of information that affects the Brazilian financial market.

ABSTRACT Purpose: To analyze the real estate sector of a Brazilian metropolis in the recent period of great valuation of the asset in the country and to investigate if there are signs of a speculative bubble in this market. Originality/gap/relevance/implications: This article presents a version of the Case-Shiller Index, which describes the evolution of the relationship between house prices and rental prices and uses models in order to identify if the rise in property prices rests on good economic fundamentals. Key methodological aspects: The approach is quantitative and involves the construction of the price-rent index, unit root test with an instrument that allows structural break with trend (Innovation Outlier Model) and analysis of cointegration using estimates of a Vector Error Correction Model (VECM). Summary of the results: The results do not favor the interpretation that the real estate market rests on solid economic fundamentals. On the contrary, the evolution of the price-rent index and the lack of causal relationship of rents to prices towards long-term equilibrium are suggestive of the existence of a speculative bubble. Key considerations/conclusions: The results support authors who are critical to the efficient market hypothesis (EMH) and suggest that the relative increase in property prices stems only from the belief that their selling price will be higher in the future. It is therefore foreseeable a decrease of real prices of housings, with equity losses for the participants in that market.

ABSTRACT Purpose: The aim of this paper is to analyze the dynamic capabilities related to the generation of pollutant reduction techniques according with Teece's proposition. In order to do so, we developed a case study in a Brazilian automaker. Originality/gap/relevance/implications: This paper discusses empirically aspects of creation of dynamic capabilities and innovations from its foundations. The originality of the study resides in a clearer understanding inside an organization the conception of dynamic capabilities and innovations through time. Key methodological aspects: In this paper, an automaker was studied, focusing on interviewers' interpretations concerning on the creation of reduction of pollutants technologies. The data collected were qualitative and they were analyzed through the technique of content analysis. Summary of key results: As main results, we observed that Integration and development capabilities were found and they were characterized as dynamic capabilities in the sense that, they are all based in the automaker's adaptation to its external environment. The path dependence of the automaker was also observed, through all the innovations that were created during the automaker's history towards more efficient and less pollutant vehicles. Key considerations/conclusions: Summarizing, the automaker seeks to ‘perceive' its dynamic capabilities from market's actions, since the organization has an historical path and also its R&D capabilities. So on the seizing phase of the Dynamic Capabilities, the organization seeks to ‘create value' to its customers.

ABSTRACT Purpose: The objectives of this study were to validate the Customer Relationship Management Scale (CRMS) in France, and to compare the French model to both Brazilian and American ones. Originality/gap/relevance/implications: Based on the premise that scientific measurement instruments may be used to reflect customers' perception about the organization actions and effectiveness, it is important to validate a scale within a multidimensional cultural context. Therefore, the applicability of the instrument shall be possible in different contexts, longitudinally, with diverse subjects, thus providing external validity and generalization. Key methodological aspects: This is a descriptive, instrumental, quantitative, cross-sectional survey where we used the Customer Relationship Management Scale (CRMS). The sampling method was non-probabilistic convenience and the total of answered questionnaires added up to 454. We carried out a quantitative research through Exploratory and Confirmatory Factor Analysis. Summary of key results: The results obtained in the analyses allow us to conclude that the relation between clients and companies is really two-dimensional and it involves two distinct factors, namely Loyalty and Customer Service. The scale validated in Brazil and in the United States remained stable, in terms of validity (quality of items) and reliability, when validated in a distinct context, that is, France. This makes its application in French organizations possible, improving its external validity and generalization. Key considerations/conclusions: The main objective of this study was reached and an instrument to assess what aspects French customers rank as relevant regarding CRM was produced showing theoretical consistency, reliability and construct validity as well.

ABSTRACT Purpose: To evaluate the applicability, contributions, and adaptations required for a decision support model in the context of a business model's definition. The business model refers to 10 technological projects. Originality/gap/relevance/implications: The paper attempts to empirically validate the model proposed by Reis, Ladeira, and Fernandes (2015). In this regard, the paper facilitates the interpretation and application of concepts relevant to the business model's definition, thereby contributing to an estimation between theory and entrepreneurial practice. Key methodological aspects: The research is qualitative and adopts an action research methodology regarding 10 participating projects of the Incentive Program for Innovation held in the Universidade Federal de Ouro Preto, Minas Gerais. We conducted interviews with 38 professionals in order to understand the model's applicability in different contexts and to assess convergences and differences between each analyzed case. Summary of key results: The model's application proved to be relevant mainly for the early stages of business planning. The inclusion of the minimum viable product in the model helped with resource design and the development of a product with similar characteristics to market needs. It was suggested that the criteria used to assist the decision-making process were evaluated and selected by the team in accordance with the intended business strategy. Key considerations/conclusions: It is suggested that future research evaluates the inclusion of i) risk analysis and a contingency plan for the proposed business model and ii) the valuation of technology as an important step for projects that include the transfer of technology to established companies.

ABSTRACT Purpose: To evaluate the universe of published articles that propose frameworks about the relationship between green supply chain management (GSCM) and performance in the period from 1995 to 2014, in order to propose a conceptual model that can be applied to future studies, considering the green profile besides the practices of GSCM and performance. Originality/gap/relevance/implications: The investigation revealed a lack of relationship among the organizations' profile, its environmental, economic and operational performance and GSCM practices. Key methodological aspects: The relationship among constructs was established through bibliometric analysis obtained in the models/frameworks of GSCM practices and performance extracted from the databases "ProQuest", "EBSCO", "JSTOR", "Web of Science" and "Scopus". Further, the content analysis and network analysis were then performed. Summary of key results: GSCM internal and external practices, environmental performance, economic performance and operational performance were revealed as main topics addressed in GSCM. Moreover, it was noted that studies on internal practices prevailed over those addressed to other practices. Key considerations/conclusions: The models studied did not consider whether the corporate green profile could improve the performance of the organization. Therefore, they did not simultaneously measure environmental, economic and operational performance. It was concluded that the addition of the green profile in conjunction with GSCM practices and performance allows for a more in-depth analysis of the degree of a company's involvement with GSCM, as well as its intended objectives and results achieved in the future.

ABSTRACT Purpose: Deepening the knowledge about factors which determine and explain the reasons and intentions of judo practitioner's consumption, investigating how their demands on the sport relate to the perceived benefits, restrictions, value, satisfaction and commitment to judo. Originality/gap/relevance/implications: We tested a theoretical model that specifies the direct and indirect relations between market demand, perceived benefits, restriction and value, as well as the satisfaction and commitment of a judoist with the martial arts in a different country and sport of the original study. Key methodological aspects: We conducted a survey with 328 judoists in Brazilian gyms. We analysed the data with the software PLSmart which uses the Partial Least Square method. Summary of key results: We found that market demands positively affect the perceived benefits and value and the judo members' satisfaction and commitment. We also discovered that the perceived benefits positively affect the perceived value, which positively triggers satisfaction, this way increasing the practitioner's commitment. Key considerations/conclusions: The results found in this study reinforce the relations proposed in Kim's original study showing a certain solidity in the explaining power of the underlying theory. But there are some peculiarities, like different perceived benefits for practicing judo as well as intrapersonal restrictions which discourages getting involved in judo. Finally, this article reinforces Sheth's (2011) affirmation that marketing is modified according to the context in which it is inserted, in this case, in the sport of judo in Brazil.

SUMMARY Purpose: To understand how dignity is perceived by deaf people inserted into organizations, from their interactions with colleagues, bosses and the organization itself. Originality/gap/relevance/implications: In the field of studies on organizational dignity, the phenomenon is being studied under several aspects. However, no research was found addressing the possible relationship between dignity and inclusion in organizations, focusing specifically on deaf people. Key methodological aspects: This is a qualitative study carried out by means of interviews with 13 oral and non-oral deaf persons with work experience in organizations in the Metropolitan Region of Recife-PE, Brazil. Summary of key results: Most deaf people felt socially isolated, not being considered neither by Human Resource practices, nor the target of opportunities in organizations. Oral language proved to be the main difficulty for communication within the organization, although the breakage of this barrier through the maintenance of an interpreter is supported by law. Key considerations/conclusions: The predominant view of dignity by the deaf was based on the elements of valorization/respect/equality. It is inferred that the more intense the experience with elements that violate dignity, the less the feeling of inclusion or the greater the feeling of non-acceptance and the consequent greater risk of social isolation of the deaf. It is believed that, among other aspects, an organizational position aimed at reciprocal recognition and mutual cultural enrichment will contribute to the improvement of the quality of relationships between the deaf and the hearing.

ABSTRACT Purpose: To analyze the impact of extreme earnings and cash flows on the persistence, value relevance, and accruals quality of Brazilian public firms. Originality/gap/relevance/implications: The present study contributes to the literature by analyzing extreme earnings and cash flows. Because they change the results of the period in which they occur in an unusual manner, this study suggests that studying their behaviors and impacts on the quality of the information disclosed by companies tends to contribute to optimal decision making in the capital market. Key methodological aspects: The analyzed sample comprised non-financial public companies traded on the BM&FBovespa stock exchange from 2005 to 2014, with estimates made using quantile regression. Summary of key results: The main results indicate that cash flows are more persistent than earnings because the accruals component of the latter makes them less persistent. Extreme values of both earnings and cash flows affect the persistence of these variables, with a strong and negative effect on cash flows. Finally, extreme values of accruals negatively affect accruals quality because, compared to moderate quantiles, they significantly alter the standard deviation of extreme quantiles. Key considerations/conclusions: The presence of extreme values in this study's focus variables negatively influenced market information quality, reducing its predictive power and, consequently, its relevance. Furthermore, controlling for extreme values, it was possible to observe the incremental information content of these two metrics.

ABSTRACT Purpose: The article aims to trace the behaviour of dispersed, dominant and concentrated ownership structures in Brazil and verify which of these structures is more efficient operationally and if there is a pattern to be followed. Originality/gap/relevance/implications: Static optimisation techniques are used by data envelopment analysis (DEA) to calculate the variable ‘efficiency', a differential in relation to previous studies that consider only outcome variables as a performance indicator. The article is one of the first in the area that traces the pattern of efficiency of ownership structures in Brazil. Key methodological aspects: The sample consists of 8,298 company years in the period between 1995 to 2012. To calculate the efficiency (dependent variable), static optimisation techniques were used by data envelopment analysis (DEA). After, the unbalanced panel data by GMM-Sys (system generalised method of moments) is applied to identify the influence of dispersed, dominant and concentrated ownership structures on efficiency. Summary of key results: The results showed that, although all the variables are positively related to efficiency, the graphic presented an inverted "U" format, i.e. dispersed and concentrated structures, mostly, are less efficient than dominant. Key considerations/conclusions: The study identifies that both agency problems and the expropriation of minority shareholders by the majority, stemming from weak legal protection in the country, significantly affect the efficiency of Brazilian companies, thus making dominant structures the most appropriated form of ownership structure in Brazil.

ABSTRACT Purpose: The purpose of this study is to propose a model to estimate how uncertainty, flexibility, and operational performance are related. The assumption is that competition in the current business environment has been broadening consumers’ options. These options have brought uncertainty to companies regarding the adoption of operational strategies, particularly to adjustment of flexibility to their competitive priorities. Originality/value: The research designed a theoretical model that presents convergent, discriminant validity, and good reliability. Therefore, it is possible to estimate the perceived uncertainty, flexibility, and operational performance from a set of evaluated companies. Design/methodology/approach: Data was collected out of managers and analysts from the financial, energy, and manufacturing sectors. The uncertainty was estimated by taking into account the state, the effect, and the choice of responses from changes in business environment. In addition, it was considered the flexibility and the performance within the operational indicators. Findings: The results reveal moderate managers’ ability to predict the state of the environment and its effects on their organization’s activities. Also they show that uncertainty does not influence the operational performance when mediated by flexibility. Thus, in a moderate environmental stability, flexibility can be adopted to mitigate the effects of uncertainty on operational performance.

ABSTRACT Purpose: Identify the practices adopted by companies to monitor and prevent contemporary slavery and the elements that differentiate companies that adopt monitoring practices for prevention of slavery and those that do not. Originality/value: This question is investigated from the perspective of management, reputation and institutional environment literature, pointing out the reasons that lead companies to adopt or avoid contemporary slavery. Design/methodology/approach: We used secondary data from Melhores Empresas para Você Trabalhar [Best Companies to Work] 2014 on 305 companies, which filled a questionnaire about their management practices and policies to monitor the working conditions in the supply chain in relation to the use of slave labor. Findings: Results show that the practice adopted by most companies is related to sanctions on contracted suppliers who are caught using slave labor, and the element that differentiates groups of companies that adopt monitoring practices from those that do not is the fact of whether they are or not signatories of the National Pact to Eradicate Slave Labor [Pacto Nacional pela Erradicação do Trabalho Escravo].

ABSTRACT Purpose: This theoretical essay aims to contribute to a deeper understanding of distributive justice in situations of service recovery. More specifically, we seek to investigate distributive justice evaluations based on social comparisons. Originality/value: This article seeks to fill a gap in the existing knowledge to discuss the social comparison theory applied to the service recovery context. Design/methodology/approach: After a literature review, we present three research propositions about comparisons between consumers in terms of compensation received after complaining about a service and their effects on the evaluation of distributive justice, taking into account the perceived similarity between consumers and the time elapsed between the complaint handling and the comparison. Findings: Even though social comparisons are increasingly frequent, they have been neglected in the service marketing literature. It is possible for consumers to compare the compensation received after a complaint with the compensation given to another consumer and, perceiving upward differences, have negative reactions to the company.

ABSTRACT Purpose: The aim of this paper is to develop a scale to measure results in research groups (RG). Originality/value: The study is innovative in developing a scale for verifying results in Brazilian RG. Its main contribution is data collection from an evaluation made by leaders regarding results that RG’ produced as a whole (meso or organizational level), going further than individual indices of academic productivity. Design/methodology/approach: The scale was developed based on: 1) literature review of empirical papers published between 2005 and 2015 regarding results in RG; and 2) analysis of data (audio recordings, interview transcriptions, field reports) previously collected from RG members, regarding achieved results and re-evaluation of preliminary instruments developed by RG. In total, 387 RG leaders answered the survey after semantic and theoretical analysis by experts and a pre-test. Findings: Exploratory factor analysis revealed three factors in the results (Distal Results of External Repercussion, Proximal Research Results and Tangible Research Results), with a total variance of 51.9% explained and reliability indices of α = 0.927, α = 0.872 and α = 0.624, respectively.

ABSTRACT Purpose: This paper aims to analyze the subjective aspects of women who work in the financial market, focusing on the meanings they attribute to their labour activities. Originality/value: Despite the significant academic production about gender, few studies investigate the meaning women attribute to their work activities or analyze the main building elements in the subjective connection between women and a masculine work environment. This study, therefore, extends the literature on gender issues and labor relations, in addition to analyzing the achievements and challenges inherent in the professional choices of women in the contemporary world. Design/methodology/approach: The research was conducted by means of in-depth interviews with 16 women, at different ages and several family structures, who work on asset managers, investment brokers and investment banks. Content analysis was applied to the textual data to interpret and make inferences, using a priori coding. Findings: Data analysis identified that, for these professionals, meaning attribution occurs through the mechanisms of self-esteem, self-efficacy, purpose and belongingness, which are viable due to the success they conquered in a very competitive work environment. Other factors, such as the high incomes earned by the interviewees, also have an important role in the meaning they attribute to their work.

ABSTRACT Purpose: This study aimed at analyzing Brazilian scientific production about informal learning at work context in journals of Administration. Originalityvalue: Especially in Brazil, research on informal learning is featured as shallow, scattered type. Therefore this is a latent topic in the field of organizational learning. The aim, thus, is providing contribution to the characterization of this subject, indicating gaps and research possibilities from national scientific production. Design/methodology/approach: a meta-study analyzing a set of 36 studies published in Business journals was developed for this purpose, with no initial time delimitation until 2016. Findings: Results obtained indicated a slow increase on publications about informal learning since 2010. It can be inferred that researches aiming specifically at informal learning still occupy a small backward space highlighted by the investigation of how learning processes take place, mostly by means of qualitative researches, in a clear attempt to comprehending such phenomenon.

ABSTRACT Purpose: This study aimed to analyze determinants related with the delisting of Brazilian companies, through the analysis of the problems of agencies coming from structures of property/control and the internationalization of organizations. Originality/value: The present work seeks to fill the existing gap of more detailed studies related to the delisting of companies in the Brazilian capital market. In addition, it presents a contribution to the literature through the analysis of the relationship between Corporate Governance, Corporate Internationalization and Deslisting from the perspective of Agency Theory. Design/methodological/approach: Four econometric models based on existing literature were elaborated and then analysis of logit regressions with panel data. For data of all organizations listed in BM&FBOVESPA in the period between 2006 and 2015, period in which it was found that 205 businesses closed down their capital. Findings: As a result, it was observed that when considering the year before the delisting, organizations which have greater concentration of property had higher probability of closing their capital, which does not occur when analyzing the control structures. As to the entrance mode into international market, it was noted that there is a negative relationship between entrance mode non-patrimonial and volunteer delisting.

ABSTRACT Purpose: This study questions whether there is a Kaldor’s fifth law and tests whether the size of the intermediate services sector contributes to the growth of the industrial sector. Originality/Value: The laws proposed by Kaldor consider that the industrial sector contributes to economic growth and affirm that the growth of this sector depends on the existing demand for industrial products. If this new law is corroborated we have the initial evidences that the growth of the service sector contributes to the growth of the industry. Design/methodological/approach: The existence of this new law is tested through the estimation of panel VAR models for eight developed countries in the period 1980-2009. Findings: The growth of the service sector causes Granger to increase industrial productivity, industrial density and economic complexity. The causality test shows that there is a bidirectional causal relationship between the growth of the service sector and the industrial density and between the growth of the service sector and the Economic Complexity Index.