Academia Revista Latinoamericana de Administración最新文献

{"title":"The impact of environmental innovation and national culture on ESG practices: a study of Latin American companies","authors":"Paulo Vitor Souza de Souza, Kátia Dalcero, Denize Demarche Minatti Ferreira, Edilson Paulo","doi":"10.1108/arla-11-2023-0187","DOIUrl":"https://doi.org/10.1108/arla-11-2023-0187","url":null,"abstract":"PurposeThis paper aims to examine how environmental, social and governance (ESG) practices are influenced by environmental innovations and how cultural dimensions moderate this interaction in Latin American companies.Design/methodology/approachIn this paper 157 companies from 6 Latin American countries were studied between 2010 and 2021, with a total of 1,204 observations. Data were collected from Refinitiv Eikon®, and results were generated using ordinary least squares regression, with country and year as controls.FindingsESG performance is higher in companies that invest in environmental innovation; innovation positively affects individual ESG factors; and masculinity, individualism, indulgence and power distance positively or negatively moderate the relationship between innovation and ESG performance, as well as environmental and social dimensions.Research limitations/implicationsOur findings contribute to the body of knowledge on sustainable practices in different cultures. We draw the attention of standard setters to the impact of innovation and culture on ESG practices in different countries.Practical implicationsBetter understanding of how environmental innovation can mitigate inequality, poverty and environmental issues in Latin America, promoting equitable development and environmental preservation.Social implicationsLatin American countries show significant levels of poverty, social and productive heterogeneity, and deficiencies in sustainable practices. Therefore, providing information on innovation as an incentive for better sustainable policies can promote these practices.Originality/valueOur study fills a gap by examining the specific influence of environmental innovation on ESG performance, particularly through its interactions with cultural dimensions, in a sample of Latin American firms.","PeriodicalId":387315,"journal":{"name":"Academia Revista Latinoamericana de Administración","volume":"19 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140436077","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":"Firm-specific investor sentiment and earnings management: evidence from Brazil","authors":"Alexandre Esteves, Pedro Piccoli","doi":"10.1108/arla-08-2023-0140","DOIUrl":"https://doi.org/10.1108/arla-08-2023-0140","url":null,"abstract":"PurposeThe purpose of this study is to investigate the influence of firm-specific investor sentiment on Brazilian companies’ accrual-based earnings management between 2010 and 2018. The paper aims to bring deeper insight into the relationship between the investor expectations and managers’ decision-making in an emerging market.Design/methodology/approachThe authors use the quantitative approach and apply a multiple linear regression model to test the relationship among the abnormal accruals, the firm-specific investor sentiment index and the control variables. The final sample includes data from 175 companies, between 2010 and 2018.FindingsThese results reveal a negative association between firm-specific investor sentiment and accrual-based earnings management, which could mean that the risk propensity of managers to manipulate earnings increases when they face known losses in the capital market.Research limitations/implicationsThe research findings provide a valuable understanding of how emerging capital market expectations can influence managerial decisions, such as accrual-based earnings management. The geographical area of study was limited to only Brazil.Originality/valuePrevious studies on developed markets show that market-wide investor sentiment positively influences accrual-based earnings management. However, the present study shows that the firm-specific investor sentiment index has a significant and negative relationship with Brazilian companies’ earnings manipulation, whereas market sentiment indicates contradictory relationship in previous studies in the country.","PeriodicalId":387315,"journal":{"name":"Academia Revista Latinoamericana de Administración","volume":"167 7","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139849662","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":"Firm-specific investor sentiment and earnings management: evidence from Brazil","authors":"Alexandre Esteves, Pedro Piccoli","doi":"10.1108/arla-08-2023-0140","DOIUrl":"https://doi.org/10.1108/arla-08-2023-0140","url":null,"abstract":"PurposeThe purpose of this study is to investigate the influence of firm-specific investor sentiment on Brazilian companies’ accrual-based earnings management between 2010 and 2018. The paper aims to bring deeper insight into the relationship between the investor expectations and managers’ decision-making in an emerging market.Design/methodology/approachThe authors use the quantitative approach and apply a multiple linear regression model to test the relationship among the abnormal accruals, the firm-specific investor sentiment index and the control variables. The final sample includes data from 175 companies, between 2010 and 2018.FindingsThese results reveal a negative association between firm-specific investor sentiment and accrual-based earnings management, which could mean that the risk propensity of managers to manipulate earnings increases when they face known losses in the capital market.Research limitations/implicationsThe research findings provide a valuable understanding of how emerging capital market expectations can influence managerial decisions, such as accrual-based earnings management. The geographical area of study was limited to only Brazil.Originality/valuePrevious studies on developed markets show that market-wide investor sentiment positively influences accrual-based earnings management. However, the present study shows that the firm-specific investor sentiment index has a significant and negative relationship with Brazilian companies’ earnings manipulation, whereas market sentiment indicates contradictory relationship in previous studies in the country.","PeriodicalId":387315,"journal":{"name":"Academia Revista Latinoamericana de Administración","volume":" 19","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139789790","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 role of intellectual and social capital in funding businesses: a cross-country analysis","authors":"Samuel Mongrut, Luis Berggrun, Klender Aimer Cortez Alejandro, Martha del Pilar Rodríguez García","doi":"10.1108/arla-04-2023-0057","DOIUrl":"https://doi.org/10.1108/arla-04-2023-0057","url":null,"abstract":"PurposeThe study aims to examine the impact of intellectual and social capital in funding businesses.Design/methodology/approachThe study made use of fixed-effects panel data models with a sample of 142 countries from the five continents during the period 1998–2018.FindingsIt was found that human capital (HC), relational capital, structural capital and social capital play a role in investors’ decisions to fund a business. The study revealed that investors’ funding decisions in low human development index countries are based mainly on education, while those in high human development index countries are based mainly on the creativity component of HC and on relational, structural and social capital.Research limitations/implications The study needs to be replicated using firm-level data within each country. Moreover, the search for new proxies for intellectual and social capital (although the list of variables is exhaustive) both at the country and firm level, constitutes an interesting avenue for future research.Practical implicationsCountries should pay attention to intellectual and social capital to encourage business activity. In particular, low human development countries should strengthen HC, such as the school enrollment rate, with early entrepreneurial training and increase research and development investments, while high human development countries should continue to foster strategic alliances, protect intellectual property and maintain or increase the level of trust in the country.Originality/valueThe study contributes to literature by being the first to explore such a variety of intellectual and social capital variables from a country-level perspective.","PeriodicalId":387315,"journal":{"name":"Academia Revista Latinoamericana de Administración","volume":"520 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140479771","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":"Model for measuring competitiveness in construction companies in Lima–Peru","authors":"Fernando Luis Tam Wong, Enrique Alonso Castro Guzman, Eduardo Franco Chalco","doi":"10.1108/arla-03-2023-0049","DOIUrl":"https://doi.org/10.1108/arla-03-2023-0049","url":null,"abstract":"PurposeThe main objective of this study was to establish a model of competitiveness factors to measure the value of construction companies adequately.Design/methodology/approachA theoretical model of four main factors was developed, and they include human capital, ethical values, process innovation and financing. Information was collected from 18 construction companies in the city of Metropolitan Lima, collecting information on each of these factors. Through an analysis of the principal components, the weighting of each factor about the competitiveness of a construction company was determined.FindingsThe cost of person-hours, the cost of equipment to execute work, and the cost of materials used are the strongest indicators to measure the competitiveness of a construction company. On the other hand, the number of employees holding university degrees and the number of master builders holding technical degrees in the human capital factor also have a moderate weight in determining the competitiveness value of a company. The indicator of work delivered within the deadline also moderately affects competitiveness. Finally, the monthly debt payment indicator has a very small effect on the company’s competitiveness.Originality/valueIn conclusion, this study provides evidence of a competitiveness model with highly related factors on human capital, process innovation and ethical values as the most important in measuring competitiveness.","PeriodicalId":387315,"journal":{"name":"Academia Revista Latinoamericana de Administración","volume":"18 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140477496","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":"Support farmers: sustainability claims that influence moral satisfaction and purchase intention","authors":"Ana M. Arboleda, Acosta Pilar","doi":"10.1108/arla-03-2023-0048","DOIUrl":"https://doi.org/10.1108/arla-03-2023-0048","url":null,"abstract":"PurposeThis paper evaluates consumers' responses to claims regarding fruit sustainability. The authors compared the effects of this factor on consumers' moral satisfaction and purchase intention with respect to 12 sustainability claims.Design/methodology/approachA mixed-model experiment was conducted with seven fruits (i.e. guava, pineapple, red apple, green apple, red grape, green grape and avocado) to evaluate the effects of the 12 sustainability claims on purchase intention through moral satisfaction, relative to a control condition.FindingsThe results show that claims of supporting local farmers are those that move consumers the most. Claims regarding local farmers' production positively affect moral satisfaction and purchase intention.Practical implicationsThis paper takes a consumer behavior approach to sustainability, enabling organizations to consider consumer behavior outcomes that could affect their strategic investments and commitment to social responsibility.Originality/valueFood-related studies have not produced consistent results with respect to the relevance that sustainability claims have for consumers. This study differs from previous studies, as it focuses on fruit, a product that is important for social and environmental sustainability issues. This study demonstrates that, in the case of fruit, sustainability arguments are meaningful to young consumers through the mediating effect of moral satisfaction. Thus, the effect of claims is predicted by the meaning these arguments have for the consumer.","PeriodicalId":387315,"journal":{"name":"Academia Revista Latinoamericana de Administración","volume":"110 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140484432","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":"Corporate social responsibility in the Brazilian ceramic tile industry","authors":"G. Scur, Roberta de Castro Souza Pião, William Jeferson Vieira De Souza, Mary Fernanda de Sousa De Melo","doi":"10.1108/arla-08-2023-0133","DOIUrl":"https://doi.org/10.1108/arla-08-2023-0133","url":null,"abstract":"PurposeThe ceramic tile chain can generate several environmental impacts, from raw material extraction to the production process, commercialization, consumption, maintenance and disposal. One of the open issues remaining in the literature on socially responsible supply chains, also known as responsible supply chains, is understanding how corporate social responsibility (CSR) practices are being implemented in ceramic tile companies in Brazil.Design/methodology/approachThe method adopted is a multiple-case study. The authors conducted face-to-face interviews with six ceramic producers and a trade association. The authors also conducted eight interviews with specialists in the ceramic sector. They are two university professors, two class association representatives, one professional from a technological institute, two representatives of the inspection body and one supplier.FindingsCompanies perform on a compliance basis, manifesting a less proactive position when the subject is CSR. In addition, the CSR practices established by the companies are preferably aimed at reducing costs and risks and increasing reputation. Practices in terms of eco-design are linked to lowering costs and growing reputation, as seen from the reduction in the use of inputs and improvements in packaging to minimize costs. These practices improve the company’s reputation from the consumers' perspective. Environmental aspects are dominant due to the legislation.Originality/valueThis paper contributes theoretically since it identifies, from the companies' perspective, the CSR practices related to risk, cost reduction and reputation increase. There are also opportunities to be explored for facilitating their efforts towards a sustainable business model, especially considering the social dimension. From a managerial perspective, this paper provides some input for implementing CSR actions, mainly regarding their implications for society and local communities.","PeriodicalId":387315,"journal":{"name":"Academia Revista Latinoamericana de Administración","volume":"43 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140484034","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":"ESG investing versus the market: returns and risk analysis and portfolio diversification in Latin-America","authors":"Hugo Alvarez-Perez, Regina Diaz-Crespo, Luis Gutierrez-Fernandez","doi":"10.1108/arla-02-2023-0033","DOIUrl":"https://doi.org/10.1108/arla-02-2023-0033","url":null,"abstract":"PurposeThis study aims to examine the performance of environmental, social and governance (ESG) equity indices in Latin America (LA), evaluating their risk-return characteristics in comparison to conventional benchmark indices.Design/methodology/approachUsing a quantitative empirical approach, the authors analyze ESG equity indices from Brazil, Mexico, Chile, Peru and Colombia, employing metrics such as Sharpe, Sortino and Omega ratios to measure risk-adjusted returns. Regression analysis is employed to assess the replicability of ESG indices by benchmark indices. Monte Carlo simulations are conducted to explore the potential increase in risk-adjusted returns when ESG equity indices are incorporated into portfolios.FindingsThe study addresses critical questions for investors: Can ESG indices outperform their benchmarks? Can these ESG indices be replicated by benchmark counterparts? Do ESG equity indices enhance portfolio diversification? The findings reveal that investing in ESG indices has the potential to enhance risk-adjusted returns and portfolio diversification.Research limitations/implicationsWhile this study focuses on various LA economies, it’s important to note variations in currency and volatility.Practical implicationsFor investors in LA, this study highlights the importance of considering ESG indices as part of their investment strategies. While not all ESG indices outperform conventional ones, some may improve diversification and risk-adjusted performance. Investors should carefully assess market-specific conditions and national factors when making investment decisions.Originality/valueThe primary contribution of this study is its focus on LA countries in the examination of diverse portfolios. The research provides valuable insights into the performance of ESG indices in this region compared to conventional benchmark indices. This approach addresses an important gap in the existing literature and offers a more comprehensive perspective on ESG investing and portfolio diversification.","PeriodicalId":387315,"journal":{"name":"Academia Revista Latinoamericana de Administración","volume":"52 4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139603601","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":"Employees' perceptions of responsible leadership in private security: a mediation model","authors":"Burcu Üzüm, O. Özkan, Irene Huertas-Valdivia","doi":"10.1108/arla-04-2023-0060","DOIUrl":"https://doi.org/10.1108/arla-04-2023-0060","url":null,"abstract":"PurposeA quantitative study sought to better understand responsible leadership (RL) style in the private security sector. The authors analyzed RL’s mediating role in the relationship between rules climate (RC) and employees' perceived organizational support (POS).Design/methodology/approachThe data were collected through an online questionnaire administered to full-time private guards in Ankara (Turkey). A mediation model was proposed, and research hypotheses were tested with structural equation modeling (SEM).FindingsThe results indicate a significant positive relationship between the company’s RC and managers' RL, and a positive significant relationship between managers' RL and employees' POS. RL mediates the relationship between company’s RC and employees' POS.Research limitations/implicationsThe theoretical framework draws on conservation of resources (COR) theory to consider RL an effective resource. The organization’s RC was a key factor the affecting leader’s responsible behaviors.Originality/valueThis study explores a thriving leadership style, gaining research attention across fields. To the authors' knowledge, no prior research has studied this leadership style in the security sector. The authors use COR to increase understanding of an important antecedent (company’s RC) and consequence (employees' POS) of RL, highlighting this emerging style’s mediating role.","PeriodicalId":387315,"journal":{"name":"Academia Revista Latinoamericana de Administración","volume":"2 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139440256","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":"International performance of Latin American companies: institutional and reputational perspectives","authors":"Ana-Maria Parente-Laverde, Izaias Martins, Laura Isabel Rojas de Francisco","doi":"10.1108/arla-12-2022-0227","DOIUrl":"https://doi.org/10.1108/arla-12-2022-0227","url":null,"abstract":"PurposeThis study aims to analyze the effect of institutional dimensions and corporate reputation (CR) on the performance of Latin American companies using a study framework built on institutional theory.Design/methodology/approachThe authors used a panel data analysis of 45 companies from the 6 biggest economies in Latin America for 5 years.FindingsThe authors found a positive effect between institutional independence and transparency perception, certifications, social norms, chief executive officer (CEO) international experience, board of directors' networks and CR with international performance (IP) and a negative effect between property rights protection and the perception of corporate social responsibility (CSR) with performance.Originality/valueThe uniqueness of this paper is based on the analysis of institutional and reputational variables on the IP of firms from emerging markets.","PeriodicalId":387315,"journal":{"name":"Academia Revista Latinoamericana de Administración","volume":"26 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139250505","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}