Cesar Augusto Camargos Rocha, Marcos Antônio de Camargos
{"title":"Financing Decisions and Abnormal Returns: An Analysis of Brazilian Companies","authors":"Cesar Augusto Camargos Rocha, Marcos Antônio de Camargos","doi":"10.15728/bbr.2022.1271.en","DOIUrl":"https://doi.org/10.15728/bbr.2022.1271.en","url":null,"abstract":"In this paper, we developed an approach for the empirical testing of the relationship between the financing choices of companies and the abnormal returns obtained by their shareholders. We innovate by incorporating controls on how this relationship is affected by the capabilities of each funding source, at different levels of returns, through quantile regression. The estimation of the model for a sample of Brazilian companies indicates the inexistence of a significant relationship between abnormal returns and debt issuance. The same occurs between abnormal returns and equity issuance, with one exception: when there is a deficit of internal financing that extrapolates the available safe debt and the abnormal returns are, at least, median, this relationship becomes significant and positive. Considered as a whole, the results suggest an indifference to the sources of funds used by the company. Among the contributions, we highlight the incorporation of the aforementioned controls, which bridges the gap identified in the literature relating business financial flows and stock returns.","PeriodicalId":37145,"journal":{"name":"Brazilian Business Review","volume":"35 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73724558","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}
Rubens Mussolin Massa, T. Andreassi, Raul Beal Partyka, Jeferson Lana
{"title":"Opportunity or Illusion? Risk Perception in Opportunity Evaluation","authors":"Rubens Mussolin Massa, T. Andreassi, Raul Beal Partyka, Jeferson Lana","doi":"10.15728/bbr.2022.1205.en","DOIUrl":"https://doi.org/10.15728/bbr.2022.1205.en","url":null,"abstract":"This article describes research conducted to determine which variables influence the opportunity evaluation by emerging market entrepreneurs. The study was conducted with quantitative research techniques, using data from 124 entrepreneurs in micro and small Brazilian enterprises. Hypotheses were tested with confirmatory analyses and using Structural Equations Modelling. According to previous research, results demonstrated that the smaller the perceived risk, the more positively the entrepreneurs will evaluate opportunities, affecting their propensity to act. However, the results of tests to measure correlations between the occurrence of cognitive biases and other variables were not significant, contradicting previous work that has stated that correlations exist. The findings support the concept that variables ignored when analysing our decision-making process are relevant to the result of our decisions. Besides, they may result in inconsistent illusions that can lead the decision-maker into unwarranted confidence in their capacity to understand whether an assessment of opportunity, which is inherent to the entrepreneurial process, is truly an opportunity or an illusion.","PeriodicalId":37145,"journal":{"name":"Brazilian Business Review","volume":"14 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73962663","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}
Rubens Mussolin Massa, Tales Andreassi, Raul Beal Partyka, Jeferson Lana
{"title":"Oportunidade ou Ilusão? Percepção de Risco na Avaliação de Oportunidades","authors":"Rubens Mussolin Massa, Tales Andreassi, Raul Beal Partyka, Jeferson Lana","doi":"10.15728/bbr.2022.1205.pt","DOIUrl":"https://doi.org/10.15728/bbr.2022.1205.pt","url":null,"abstract":"RESUMO Este artigo descreve uma pesquisa realizada para determinar quais variáveis influenciam a avaliação de oportunidades por empreendedores de mercados emergentes. O estudo foi realizado com técnicas de pesquisa quantitativa, utilizando dados de 124 empreendedores de micro e pequenas empresas brasileiras. As hipóteses foram testadas com análises confirmatórias e usando Modelagem de Equações Estruturais. De acordo com pesquisas anteriores, os resultados demonstraram que quanto menor o risco percebido, mais positivamente os empreendedores avaliarão as oportunidades, afetando sua propensão a agir. No entanto, os resultados dos testes para medir as correlações entre a ocorrência de vieses cognitivos e outras variáveis não foram significativos, contrariando trabalhos anteriores que afirmavam a existência de correlações. Os achados apoiam o conceito de que variáveis ignoradas ao analisar nosso processo decisório são relevantes para o resultado de nossas decisões. Além disso, pode resultar em ilusões inconsistentes as quais podem levar o tomador de decisão a uma confiança injustificada em sua capacidade de entender se uma avaliação de oportunidade, inerente ao processo empreendedor, é realmente uma oportunidade ou uma ilusão.","PeriodicalId":37145,"journal":{"name":"Brazilian Business Review","volume":"4 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88238673","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":"“One is not Born, but Rather Becomes, a Woman”: Impressions of Women on the Career in Agribusiness and its Spaces","authors":"Heliani Berlato, Danilo Andretta, T. Fernandes","doi":"10.15728/bbr.2022.1224.en","DOIUrl":"https://doi.org/10.15728/bbr.2022.1224.en","url":null,"abstract":"Studies on gender discrimination and women’s careers in organizations reinforce how much women are silenced in their speech, undermined in their skills, and paid less than men. However, there is little research on this topic in the context of agribusiness. In this sense, the objective of this study was to understand how gender discrimination is seen by women graduating from agricultural sciences programs. As a methodology, a questionnaire was applied and 315 respondents answered, and a Factor Analysis and, later, a Cluster Analysis were carried out. Five factors were identified, and, from that, two clusters were defined, called “maintainers of the patriarchal system” and “aware of protagonism”. Both clusters demarcate tensions about how women see discrimination and experience the multiple unfoldings of sexist behaviors and attitudes that permeate their career pathways in agribusiness.","PeriodicalId":37145,"journal":{"name":"Brazilian Business Review","volume":"12 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88791426","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}
P. Cerutti, Carlos Costa, J. Pauli, Luciana Cristina Laval
{"title":"Relationship Between Leadership Style and Conflicts in Family Businesses","authors":"P. Cerutti, Carlos Costa, J. Pauli, Luciana Cristina Laval","doi":"10.15728/bbr.2021.0949.en","DOIUrl":"https://doi.org/10.15728/bbr.2021.0949.en","url":null,"abstract":"The themes of managerial style and interpersonal conflicts in a business context have been discussed, but their relationship, especially in family organizations, has seen little or no attention. A quantitative, descriptive, inferential, and cross-sectional study was undertaken to address this gap. Data were gathered from 410 employees of small and medium sized Brazilian family businesses operating in the state of Rio Grande do Sul. Participants answered a questionnaire consisting of two scales: (i) the Management Style Assessment Scale and (ii) the Supervisor-Subordinate Conflict Scale. In the family businesses in question, three managerial styles (situational, task, and relationship) were identified along with their contribution to conflicts. The ‘relationship’ style stood out as mitigating such events. These findings may provide insights regarding the theory of management styles and conflicts in family businesses and could offer practical management strategies for such contexts.","PeriodicalId":37145,"journal":{"name":"Brazilian Business Review","volume":"177 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77313889","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":"Consumer Behavior in Tourism in Health Crises: A Model Using the Theory of Protection Motivation in Farm Hotels","authors":"D. Rezende, M. Gosling, Nayane de Castro","doi":"10.15728/bbr.2022.1256.en","DOIUrl":"https://doi.org/10.15728/bbr.2022.1256.en","url":null,"abstract":"","PeriodicalId":37145,"journal":{"name":"Brazilian Business Review","volume":"69 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78980113","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}
Daniela Rezende, Marlusa Gosling, Nayane de Castro
{"title":"Consumer Behavior in Tourism in Health Crises: A Model Using the Theory of Protection Motivation in Farm Hotels","authors":"Daniela Rezende, Marlusa Gosling, Nayane de Castro","doi":"10.15728/bbr.2022.1256.pt","DOIUrl":"https://doi.org/10.15728/bbr.2022.1256.pt","url":null,"abstract":"","PeriodicalId":37145,"journal":{"name":"Brazilian Business Review","volume":"65 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-08-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136271584","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":"Diversification and Performance in Credit Unions: A Non-Linear Approach","authors":"Laís Karlina Vieira, Valéria Gama Fully Bressan","doi":"10.15728/bbr.2021.1165.en","DOIUrl":"https://doi.org/10.15728/bbr.2021.1165.en","url":null,"abstract":"","PeriodicalId":37145,"journal":{"name":"Brazilian Business Review","volume":"39 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84920222","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":"Diversificação e Desempenho em Cooperativas de Crédito: uma Abordagem Não Linear","authors":"Laís Karlina Vieira, V. G. F. Bressan","doi":"10.15728/bbr.2021.1165.pt","DOIUrl":"https://doi.org/10.15728/bbr.2021.1165.pt","url":null,"abstract":"","PeriodicalId":37145,"journal":{"name":"Brazilian Business Review","volume":"166 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75082933","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}
R. Seifert, Rodrigo Alves Silva, Laira Gonçalves Adversi
{"title":"A Relação entre Satisfação e Características\u0000Convencionais e Alternativas das Organizações","authors":"R. Seifert, Rodrigo Alves Silva, Laira Gonçalves Adversi","doi":"10.15728/bbr.2021.1076.pt","DOIUrl":"https://doi.org/10.15728/bbr.2021.1076.pt","url":null,"abstract":"","PeriodicalId":37145,"journal":{"name":"Brazilian Business Review","volume":"13 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81492282","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}