Latin American Business Review最新文献

{"title":"Did Environmental, Social, and Governance (ESG) Practices Affect Abnormal Returns During the COVID-19 Pandemic? Evidence From Brazil","authors":"Andre Carvalhal, Sidney Nakahodo","doi":"10.1080/10978526.2023.2266997","DOIUrl":"https://doi.org/10.1080/10978526.2023.2266997","url":null,"abstract":"Abstract This study examines the effect of environmental, social, and governance (ESG) practices on Brazilian stock returns during the COVID-19 pandemic. Brazil provides interesting insights because it has a crucial role in the ESG agenda worldwide and was the second most severely affected country in terms of number of deaths due to COVID-19. We provide evidence that Brazilian companies with good ESG practices had higher returns during the COVID-19 crisis. This superior performance is associated with ESG broadly, but not with governance separately. Our findings are robust to several industry and firm characteristics and support the hypothesis that ESG companies are more resistant during crises.","PeriodicalId":35384,"journal":{"name":"Latin American Business Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136316425","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Home Country Institutional Environment as an Internationalization Driver for the Large Brazilian Pharmaceutical Companies","authors":"Fernanda Steiner Perina, Julia Paranhos","doi":"10.1080/10978526.2023.2263390","DOIUrl":"https://doi.org/10.1080/10978526.2023.2263390","url":null,"abstract":"AbstractThis study analyses the internationalization characteristics of Large Brazilian Pharmaceutical Companies. It contributes to the international business and evolutionary literature by showing how the home country institutional environment affects the firms’ internationalization at a country- and industry-level. The methodology is a multiple case study with eight companies, exploring their competitive advantages, strategies, and obstacles to international expansion. Findings reveal that home country institutional environment constraints pushed companies to build capabilities to survive and compete in the domestic market, which served as advantages when going international. Companies’ internationalization is driven by the exploitation and exploration of assets and capabilities.Keywords: Brazilemerging markets multinational enterprisehome country institutional environmentinternationalization driverspharmaceutical industryJEL CLASSIFICATION CODES: F23L65O32 Notes1 It only includes Brazilian residents-owned companies. It does not include foreign-owned companies based in Brazil.2 Firms classified in division 21 of CNAE. CNAE’s structure is based on the International Standard Industrial Classification of All Economic Activities (ISIC) of the United Nations Industrial Development Organization (UNIDO). The manufacture of pharmaceuticals is classified in section C, division 21 of ISIC, Rev.4.3 Exchange rate (31/12/2018): 1.00 US dollar = 3.87 Brazilian Real.4 According to the Brazilian Development Bank (BNDES, Citation2018) classification.5 Revenue from two of the sample companies is omitted for confidentiality reasons.6 It does not comprise revenue from two of the sample companies because of confidentiality reasons.7 Apex-Brazil is an entity governed by private law with a council formed by public bodies, created in 2003. The Agency promotes Brazilian products and services abroad through prospective and commercial missions, business roundtables, support for the participation of Brazilian companies in international fairs and developing sector-specific programs, among other functions. Abiquifi, founded in 1983, is a class association of the pharmaceutical sector that brings together pharmaceutical companies and producers of pharmaceutical raw materials (e.g. API). The Association undertakes actions aimed at developing the Brazilian pharmaceutical sector, such as the internationalisation project ‘Brazilian Pharma Solutions’, renamed in 2018 ‘Brazilian Pharma & Health’, in partnership with Apex-Brazil.8 In 2016, Anvisa became a member of the International Conference on Harmonization of Technical Requirements for Registration of Pharmaceuticals for Human Use (ICH), formed by the world's leading regulatory authorities, such as the FDA, EMA and Japan's Pharmaceuticals and Medical Devices Agency (PMDA). As a participant in the ICH working groups, Anvisa had 5 years (2016–2021) to adapt, within ICH’s guides—Pharmacovigilance, Clinical Research, implementation","PeriodicalId":35384,"journal":{"name":"Latin American Business Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135830184","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Impact of Audit Committee Quality on Best Practices of Whistleblowing: Evidence From Brazilian Companies","authors":"Lucas Martins Dias Maragno, Jose Alonso Borba","doi":"10.1080/10978526.2023.2240253","DOIUrl":"https://doi.org/10.1080/10978526.2023.2240253","url":null,"abstract":"Abstract This study examines the influence of audit committee quality on best practices in whistleblowing channels in Brazilian companies. Using a tobit regression analysis on a unique hand-collected sample from 397 B3-listed firms, the study finds a positive association between audit committee quality and best practices in whistleblowing. This finding indicates an effort on the part of audit committees to implement a set of practices to encourage and protect whistleblowers. In contrast, we find a negative association with firms in the financial industry and the percentage of ownership attributable to the largest shareholder. These findings indicate that firms in the financial industry and ownership concentration could discourage whistleblowers.","PeriodicalId":35384,"journal":{"name":"Latin American Business Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41335700","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Racism in Marketing Academia: A Necessary Discussion and Call for Action","authors":"J. Francis, Renata Souza, Ana Raquel Coelho Rocha, Denise Barros, Flávia Galindo","doi":"10.1080/10978526.2023.2238640","DOIUrl":"https://doi.org/10.1080/10978526.2023.2238640","url":null,"abstract":"Abstract The management academy as a whole, and more specifically the marketing academy, have recently recognized the importance of discussions of race and racial issues, which were discussed in a panel at EnAnpad 2021, the most prominent Brazilian management conference and the world's second. The Panel's proposal emerged from reading Francis’ provocative work, which establishes new relationships between structural racism and academic socialization, in which the mechanisms of social exclusion are present. As a result of the Panel’s debate, this paper presents three perspectives on the racialized reality in which we live. The first indicates how much racism conveniently insists on naturalizing privileges mistakenly treated as individual merits for specific groups. The second perspective reminds us how the racialized gaze forces subjugated groups to react, fight, and establish political and legal means. Finally, the third perspective explores a racial landscape, forcing us to ask ourselves how long academics and practitioners in Brazil and abroad will take to recognize ourselves as part of the problem. As a result, we advocate that educational institutions are fundamental to the path of change. Additionally, we propose a non-exhaustive critical agenda for social transformation.","PeriodicalId":35384,"journal":{"name":"Latin American Business Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45119593","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Determinants of Outward FDI from Developing Economies: Evidence for a Sample of Latin American Countries","authors":"Rosa Forte, Mariana Ferreira","doi":"10.1080/10978526.2023.2222668","DOIUrl":"https://doi.org/10.1080/10978526.2023.2222668","url":null,"abstract":"Abstract Grounded on a conceptual framework that combines contributions from the investment development path (IDP) theory, the Ownership, Location, Internalization (OLI) paradigm, and the institutional theory, this work aims to analyze the home country’s determinants of outward Foreign Direct Investments (OFDI). Based on panel data for a set of 14 Latin American countries between 2000 and 2019, the results of random effects estimations support the propositions of the IDP and institutional theories. Economic development, inward FDI, and institutional quality are strong determinants of OFDI. Results also highlight the role of the openness level and the membership of regional trade agreements in explaining OFDI from Latin America countries.","PeriodicalId":35384,"journal":{"name":"Latin American Business Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43448570","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Competencies for the Internationalization of Unicorn Startups","authors":"Matheus Eurico Soares de Noronha, L. Longo, Cristina Doritta Brandão Majorana, Jorge Ferreira dos Santos Filho","doi":"10.1080/10978526.2023.2226624","DOIUrl":"https://doi.org/10.1080/10978526.2023.2226624","url":null,"abstract":"Abstract The purpose of this paper is to verify the main competencies developed by unicorn startups for their internationalization. We use a qualitative exploratory approach, and three case studies were developed with Brazilian unicorns. We identify 15 competencies that guide the internationalization of Brazilian unicorn startups and four new competencies not explored by the literature. We suggest a conceptual model for the study of unicorn companies around the world.","PeriodicalId":35384,"journal":{"name":"Latin American Business Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46415332","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Relevance of Barriers for Six Sigma Implementation in Industrial Organizations","authors":"Henrique Monte Mor Silva, R. M. Vanalle, W. C. Lucato, F. Calarge","doi":"10.1080/10978526.2023.2222080","DOIUrl":"https://doi.org/10.1080/10978526.2023.2222080","url":null,"abstract":"Abstract Six sigma offers several benefits to organizations, but its implementation is frequently inhibited by numerous barriers for which there is no clear classification based on their relevance order in the literature. Moreover, there are few studies regarding the relevance of these barriers in relation to Brazilian organizations. Thus, this research aimed to identify and classify the main barriers to six sigma implementation in their order of relevance and to test if some organizational characteristics can change this classification. A survey was conducted by sending a questionnaire to 95 of the 473 Brazilian organizations in the automotive sector associated with the National Association of Auto Parts Manufacturers and 40 responses were obtained. The survey revealed that for the organizations analyzed, the most relevant barrier is the lack of skill and adequate training for implementing six sigma. It also showed that organizational characteristics, such as size or breadth (multinational or national) can influence the order of relevance of the barriers. This study is relevant due to its attempt to identify the main barriers that inhibit six sigma implementation and to order them by their level of relevance. This is important so that organizations that are in the process of implementing or want to implement six sigma can either deal with them or make efforts to overcome them.","PeriodicalId":35384,"journal":{"name":"Latin American Business Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-06-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49186792","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Sectoral Interdependence, Network Analysis, and Regional Resilience in Brazil","authors":"Luiz Carlos de Santana Ribeiro, E. Pereira, Fernando Salgueiro Perobelli, H. Pereira","doi":"10.1080/10978526.2022.2074441","DOIUrl":"https://doi.org/10.1080/10978526.2022.2074441","url":null,"abstract":"Abstract This paper aims to deepen the discussion about the productive interdependence and regional resilience among the Brazilian states and regions through an input-output network analysis to identify emergent patterns or properties within the Brazilian states. We use an inter-regional IO matrix, the base year 2011, for the 27 Brazilian states and 68 sectors. The main results show that some states remain isolated in the Brazilian productive structure. Moreover, even with the spatial heterogeneity presented in the Brazilian economy, their inter-regional interdependence is situated at a level that enables the recovery even without some important links.","PeriodicalId":35384,"journal":{"name":"Latin American Business Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-05-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45904545","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Ethics Position of Brazilian Workers: An International Comparative View","authors":"Pedro Delduque Kropf, O. Figueiredo","doi":"10.1080/10978526.2022.2053780","DOIUrl":"https://doi.org/10.1080/10978526.2022.2053780","url":null,"abstract":"Abstract This article explores Brazilian workers’ ethics position and compares it to those of other nations. We surveyed 410 Brazilian workers and used the Ethics Position Questionnaire (EPQ), with idealism and relativism scales. We translated, back-translated, and adapted the scales according to Sperber and conducted exploratory factor analyses together with confirmatory factor analyses to validate them. The results show that Brazilians present, on average, high idealism and low relativism. Therefore, Brazil appears to be a well-defined “absolutist” country compared to other nations, a surprising outcome, since Brazil ranks as one of the most corrupt countries on international scales.","PeriodicalId":35384,"journal":{"name":"Latin American Business Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42468519","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Pull Forces in Colombia for Portuguese Migrants: A Qualitative Study of Portuguese Migrants and Expatriates in Colombia","authors":"Joana Rooke de Lima, Maria Elo, Susana C. Silva","doi":"10.1080/10978526.2022.2041432","DOIUrl":"https://doi.org/10.1080/10978526.2022.2041432","url":null,"abstract":"Abstract Migration is a topic of extreme importance today and an intrinsic part of the culture of many societies, particularly those with international/colonial ties. While there are migratory paths that cross the entire world, the present study focuses on the journey from Portugal to Colombia. We seek to study the pull forces in Colombia that motivate the migration of Portuguese citizens, starting by analyzing the migratory course between the two countries in order to gauge the motivations and challenges for this path. A qualitative method of data analysis was used, using interviews with Portuguese migrants in Colombia and other secondary materials. The results suggest that the main motivations for the exit of Portuguese from their country relate to the lack of opportunities and low quality of life, mainly at the financial level. However, one might conclude that the great pull factors in Colombia are precisely the growing volume of opportunities for professional development and entrepreneurs, the economic benefits, and Colombia’s environment and culture.","PeriodicalId":35384,"journal":{"name":"Latin American Business Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46561871","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}