Biotechnologie Agronomie Societe et Environnement最新文献_第8页

The Strategic Decision-Making Process in Mergers and Acquisitions: The perspective of acquired companies from the South of Brazil 并购中的战略决策过程:巴西南部被收购公司的视角

IF 0.7 4区农林科学

Biotechnologie Agronomie Societe et Environnement Pub Date : 2017-05-17 DOI: 10.4013/BASE.2017.142.01

L. Lamb, G. Becker, Moema Pereira Nunes

{"title":"The Strategic Decision-Making Process in Mergers and Acquisitions: The perspective of acquired companies from the South of Brazil","authors":"L. Lamb, G. Becker, Moema Pereira Nunes","doi":"10.4013/BASE.2017.142.01","DOIUrl":"https://doi.org/10.4013/BASE.2017.142.01","url":null,"abstract":"This study aims to analyze how the Strategic Decision-Making Process (SDMP) occurs in organizations from the perspectives of acquired companies in processes of Mergers and Acquisitions (M&A). The study includes checking the motives influencing the SDMPs from the perspective of the companies acquired, identifying the stages of SDMPs in those M&A, as well as analyzing the convergence of strategic decisions of M&A processes analyzed under the SDMPs’ approaches found in literature. The research was conducted through the adoption of multiple case studies on strategic decisions related to M&A processes, so that it would search for a replication of the phenomena studied. Characteristics from more than one approach among those analyzed in this study can be observed. The analysis identified how the process of mergers and acquisitions occur from the viewpoint of the acquired companies as well as what are the steps that strategic decision-making processes undergo in these situations. Furthermore, from the literature, the approaches related to strategic decision-making that most occur in such situations was found. Understanding how such approaches occur in the course of strategic decision-making processes allows understanding more clearly how the decision makers, under uncertainty, loss risk, or insecurity surrounding these situations, tend to act. Keywords: Strategic Decision-Making Process, Mergers and Acquisitions, Acquired companies.","PeriodicalId":55356,"journal":{"name":"Biotechnologie Agronomie Societe et Environnement","volume":"14 1","pages":"75-91"},"PeriodicalIF":0.7,"publicationDate":"2017-05-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47309859","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"农林科学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Facebook, the new grandstand for relationship marketing Facebook，关系营销的新看台

IF 0.7 4区农林科学

Biotechnologie Agronomie Societe et Environnement Pub Date : 2017-05-17 DOI: 10.4013/BASE.2017.142.03

M. V. Cardoso, Fernando A. Fleury, P. R. Feldmann, Alcides Araújo

引用次数: 2

Analysis of the influence of audit firms on disclosure in notes to financial statements 审计事务所对财务报表附注披露的影响分析

IF 0.7 4区农林科学

Biotechnologie Agronomie Societe et Environnement Pub Date : 2017-05-16 DOI: 10.4013/BASE.2017.142.05

Silvio Hiroshi Nakao, Natália Cortes de Oliveira, P. Nardi

{"title":"Analysis of the influence of audit firms on disclosure in notes to financial statements","authors":"Silvio Hiroshi Nakao, Natália Cortes de Oliveira, P. Nardi","doi":"10.4013/BASE.2017.142.05","DOIUrl":"https://doi.org/10.4013/BASE.2017.142.05","url":null,"abstract":"Dada a capacidade da auditoria externa em atestar a fidedignidade das informacoes contabeis, o estudo objetivou verificar se o tamanho das firmas de auditoria induz a qualidade da informacao contabil divulgada em notas explicativas. Para isso, adotaram-se duas estrategias de pesquisa: (i) observacao das informacoes nos primeiros dois anos de adocao de IFRS, para verificar diferencas em funcao da experiencia da empresa de auditoria e (ii) analise de conformidade as exigencias de divulgacao segundo CPC 29 Ativos biologicos e produtos agricolas, norma com significativas mudancas a contabilidade do Brasil e sujeita a discricionaridade do gestor, para maior profundidade de analise. Foi aplicado uma check list quanto aos requisitos de divulgacao, e os resultados foram analisados por teste de diferenca de media. A amostra foi separada em dois grupos: auditadas e nao auditadas por Big Four. Os resultados indicaram que em nenhum grupo as empresas apresentaram completa conformidade as exigencias de divulgacao, embora ha maior conformidade para empresas auditadas por Big Four. Identificou-se possivel preferencia em divulgacoes de informacoes favoraveis a companhia e que nao ha evidencias de que as auditorias mostraram poder de enforcement para exigir divulgacao plena. As empresas auditadas por Big Four apresentaram uma adaptacao mais rapida as mudancas normativas, sugerindo que esse e um processo de aprendizagem, uma vez que as empresas auditadas por nao Big Four apresentaram discreta evolucao no nivel de conformidade. Porem, as informacoes com maior possibilidade de subjetividade sao fatores de maior diferenca entre os dois grupos. Separando a amostra de Big Four entre o tipo de orientacao da auditoria, por regras ou principios, nao se observaram diferencas significativas em termos de conformidade entre esses dois grupos. Palavras-chave: CPC 29 – Ativo Biologico e Produto Agricola, Auditoria Independente, Big Four, Divulgacao, Informacao Contabil.","PeriodicalId":55356,"journal":{"name":"Biotechnologie Agronomie Societe et Environnement","volume":"14 1","pages":"139-154"},"PeriodicalIF":0.7,"publicationDate":"2017-05-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42838790","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"农林科学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

Diversificação dos Fundos de Investimento Imobiliário brasileiros 巴西房地产投资基金的多元化

IF 0.7 4区农林科学

Biotechnologie Agronomie Societe et Environnement Pub Date : 2017-04-08 DOI: 10.4013/BASE.2017.141.05

A. Moraes, Ricardo Goulart Serra

{"title":"Diversificação dos Fundos de Investimento Imobiliário brasileiros","authors":"A. Moraes, Ricardo Goulart Serra","doi":"10.4013/BASE.2017.141.05","DOIUrl":"https://doi.org/10.4013/BASE.2017.141.05","url":null,"abstract":"Os Fundos de Investimento Imobiliario (FII) sao uma classe de ativos recente no mercado de capitais brasileiro, que, apesar de poderem ser negociados na bolsa tal como acoes, sao bem distintos das mesmas. Os investidores e academicos deveriam se inteirar dessas particularidades. No Brasil, a academia apenas recentemente tem se dedicado a estuda-los. Uma das questoes que se coloca, e que norteia o objetivo do presente estudo, e a de quais fatores levam os FII listados em bolsa a serem mais ou menos diversificados, ou seja, apresentarem menor ou maior risco diversificavel. As hipoteses testadas consideram que (i) o tamanho do fundo de investimento imobiliario, (ii) o numero de imoveis ou (iii) a concentracao dos imoveis explicam a maior ou menor diversificacao do fundo. Estudou-se 22 FII multiativos listados na Bolsa de Valores, Mercadorias e Futuros (BM&FBOVESPA) em dezembro de 2015. Os resultados indicam que os fundos maiores sao mais diversificados. A quantidade de imoveis e a concentracao dos imoveis nao foram significantes na explicacao da diversificacao dos FII. As limitacoes do estudo sao a pequena quantidade de fundos analisados (apenas 24 dos 127 fundos listados sao multiativos, 2 deles considerados outliers ) e a analise em apenas um periodo (devido ao pequeno historico dos FII). Palavras-chave: fundo de investimento imobiliario, diversificacao, tamanho.","PeriodicalId":55356,"journal":{"name":"Biotechnologie Agronomie Societe et Environnement","volume":"14 1","pages":"63-73"},"PeriodicalIF":0.7,"publicationDate":"2017-04-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42267746","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"农林科学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 6

Considerations on value proposition models: A multiple case study on public security services 对价值主张模型的思考——以公安服务为例

IF 0.7 4区农林科学

Biotechnologie Agronomie Societe et Environnement Pub Date : 2017-02-14 DOI: 10.4013/BASE.2017.141.04

Leila Scanfone, Noel Torres Júnior, M. Gosling

{"title":"Considerations on value proposition models: A multiple case study on public security services","authors":"Leila Scanfone, Noel Torres Júnior, M. Gosling","doi":"10.4013/BASE.2017.141.04","DOIUrl":"https://doi.org/10.4013/BASE.2017.141.04","url":null,"abstract":"Em servicos, o processo de oferta de valor pelas organizacoes para os clientes deixou de ser a simples soma dos esforcos das mesmas para entregar um produto com valor definido para o cliente, para tornar-se o resultado de diversas interacoes entre complexas redes em um determinado contexto. Nesse cenario, novos modelos de oferta de valor baseados na logica Servico-Dominante surgem como alternativos ao modelo de criacao de valor baseada na logica Produto-Dominante. Entre os novos modelos, a cocriacao de valor e a coproducao de valor ganharam destaque nos estudos academicos e, apesar de serem discutidos amplamente na literatura de marketing de servicos e operacoes, existem lacunas quanto ao entendimento das especificidades de cada modelo e ao modo como as organizacoes tanto privadas quanto publicas podem implementa-los. Posto isso, a luz da logica Servico-Dominante, o objetivo deste estudo e buscar uma melhor compreensao sobre as especificidades de cada modelo de oferta de valor por meio da apresentacao, analise e discussao de tres servicos de seguranca publica prestados pela Policia Militar de Minas Gerais – PMMG. Para tanto, a partir dos dados obtidos por meio de entrevistas, documentos e observacoes diretas, buscou-se identificar como se da o processo de oferta de valor em cada servico pesquisado. Os resultados apontaram diferencas significativas entre os modelos quanto ao papel requerido do cliente e as possibilidades de interacao entre os envolvidos no servico. Palavras-chave : criacao de valor, cocriacao de valor, coproducao de valor, servicos.","PeriodicalId":55356,"journal":{"name":"Biotechnologie Agronomie Societe et Environnement","volume":"14 1","pages":"47-62"},"PeriodicalIF":0.7,"publicationDate":"2017-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49519080","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"农林科学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Behavior of costs and its relation to operational efficiency measures in airline companies 航空公司成本行为及其与运营效率测度的关系

IF 0.7 4区农林科学

Biotechnologie Agronomie Societe et Environnement Pub Date : 2017-02-09 DOI: 10.4013/BASE.2017.141.03

I. F. Lopes, I. Beuren

{"title":"Behavior of costs and its relation to operational efficiency measures in airline companies","authors":"I. F. Lopes, I. Beuren","doi":"10.4013/BASE.2017.141.03","DOIUrl":"https://doi.org/10.4013/BASE.2017.141.03","url":null,"abstract":"This study aims at identifying the behavior of costs and its relation to operational efficiency measures in companies in the Brazilian airline industry. Descriptive research was conducted from economic and financial data and operational efficiency measures (number of employees and aircraft acquired), from 2001 to 2013, collected in the Anuario do Transporte Aereo of ANAC. In terms of data analysis, statistical modeling panel data was applied with the test Pooled Ordinary Least Squares (POLS), based on studies by Anderson et al. (2003) and Anderson et al. (2013). The findings show the existence of the asymmetry phenomenon in the behavior of costs of the companies searched in the Brazilian airline industry. Furthermore, it was also found that there is a significant influence from the number of employees and the number of aircraft acquired in the behavior of costs when there is an increase or a decrease of those variables. As conclusion, there is asymmetry in the behavior of costs, and both the number of employees and of aircraft influence the behavior of costs of the companies searched. These results reinforce the assumptions of the Sticky Costs Theory and indicate research gaps that encourage investigations about the behavior of costs in Brazil. Keywords: cost behavior, operational efficiency measures, companies in the Brazilian airline industry.","PeriodicalId":55356,"journal":{"name":"Biotechnologie Agronomie Societe et Environnement","volume":"14 1","pages":"30-46"},"PeriodicalIF":0.7,"publicationDate":"2017-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46130863","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"农林科学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

A contingent look at retail internationalization: Proposition of a taxonomy and discussion of theoretical challenges 零售国际化的偶然视角：分类法的提出和理论挑战的讨论

IF 0.7 4区农林科学

Biotechnologie Agronomie Societe et Environnement Pub Date : 2017-01-04 DOI: 10.4013/BASE.2017.141.01

Renata Maria Gomes, Jorge Carneiro, Luís Antônio Dib

{"title":"A contingent look at retail internationalization: Proposition of a taxonomy and discussion of theoretical challenges","authors":"Renata Maria Gomes, Jorge Carneiro, Luís Antônio Dib","doi":"10.4013/BASE.2017.141.01","DOIUrl":"https://doi.org/10.4013/BASE.2017.141.01","url":null,"abstract":"There is no agreement upon the set of dimensions to be used to categorize distinct types of retailers and, consequently, it is difficult to disentangle the particularities of the internationalization trajectories of specific types of retailers. In this article, we propose a taxonomy of the firms involved in international retailing and discuss the differences in the internationalization patterns of the retail business across the types of retailers. The data was collected from an extensive review of the literature on retail internationalization and from several secondary sources, such as a report of a research institute and retailers’ websites, as well as from visits to stores. The proposed taxonomy identifies three distinct types: (i) traditional retailers, (e.g., Walmart, JCPenney), which distribute a varied array of third parties’ brands, (ii) specialized branded retailers (e.g., Zara, HM and (ii) the inadvertent focus on traditional retailers, such as supermarkets and department stores, as if they were representative of the population of international retailers as a whole, which contrasts with the noticeable increase in the international retail distribution of consumer products through monobranded stores. Keywords: retail internationalization, retailer types, taxonomy.","PeriodicalId":55356,"journal":{"name":"Biotechnologie Agronomie Societe et Environnement","volume":"14 1","pages":"2-15"},"PeriodicalIF":0.7,"publicationDate":"2017-01-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45549255","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"农林科学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Online flow and e-satisfaction in high involvement purchasing processes 高介入采购过程中的在线流程和电子满意度

IF 0.7 4区农林科学

Biotechnologie Agronomie Societe et Environnement Pub Date : 2017-01-04 DOI: 10.4013/BASE.2017.141.02

H. Ceribeli, H. Tamashiro, E. Merlo

引用次数: 3

Cost of equity and earnings transparency in the Brazilian capital market 巴西资本市场的股权成本和收益透明度

IF 0.7 4区农林科学

Biotechnologie Agronomie Societe et Environnement Pub Date : 2016-11-30 DOI: 10.4013/BASE.2016.134.05

Filipe Coelho de Lima Duarte, Raul Ventura Júnior, Orleans Silva Martins

{"title":"Cost of equity and earnings transparency in the Brazilian capital market","authors":"Filipe Coelho de Lima Duarte, Raul Ventura Júnior, Orleans Silva Martins","doi":"10.4013/BASE.2016.134.05","DOIUrl":"https://doi.org/10.4013/BASE.2016.134.05","url":null,"abstract":"Este trabalho investigou a relacao entre o Custo de Capital Proprio e a Transparencia dos Lucros no mercado brasileiro de capitais. Para isso, apoiado em uma revisao de literatura, especialmente com base no estudo de Barth et al. (2013), foram analisados os dados de 246 empresas entre os anos de 2005 e 2014. As analises foram realizadas a partir de estatisticas descritivas, correlacoes e regressoes. Inicialmente, foram estimadas regressoes em dados em painel com Efeitos Fixos e, ao se observar altos desvios-padrao das variaveis e possibilidade de heterocedasticidade, foram realizadas estimativas de regressoes quantilicas e por GLS para controlar esses fenomenos. Em seus resultados, pode-se verificar que as variaveis de lucro das companhias apresentaram altos desvios-padrao no periodo analisado, influenciando as analises por Efeitos Fixos. A partir dos modelos por regressoes quantilicas na mediana e por GLS, foi possivel verificar que, apesar de a segregacao das empresas por portfolios baseados em seu tamanho nao ter apresentado influencia nas analises, a relacao do Custo de Capital Esperado com a Transparencia dos Lucros foi negativa e significante. Com isso, conclui-se que, no periodo analisado, quanto maior foi a Transparencia dos Lucros, menor foi o Custo de Capital Proprio das empresas. Assim, destacam- -se como principais contribuicoes deste estudo a identificacao dos modelos mais adequados a analise de lucros heterocedasticos no mercado brasileiro, assim como suas evidencias de reducao do Custo de Capital Proprio com o aumento da Transparencia dos Lucros. Palavras-chave: Custo de Capital Proprio, Transparencia dos Lucros, regressao quantilica.","PeriodicalId":55356,"journal":{"name":"Biotechnologie Agronomie Societe et Environnement","volume":"13 1","pages":"331-344"},"PeriodicalIF":0.7,"publicationDate":"2016-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70250748","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"农林科学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

How Brazilian managers take their decisions on cost of capital 巴西的经理人是如何对资本成本做出决定的

IF 0.7 4区农林科学

Biotechnologie Agronomie Societe et Environnement Pub Date : 2016-11-30 DOI: 10.4013/BASE.2016.134.04

Anderson L. S. Campos, M. Jucá, W. Nakamura

{"title":"How Brazilian managers take their decisions on cost of capital","authors":"Anderson L. S. Campos, M. Jucá, W. Nakamura","doi":"10.4013/BASE.2016.134.04","DOIUrl":"https://doi.org/10.4013/BASE.2016.134.04","url":null,"abstract":"Although there are theories of capital structure and cost of capital since the 1950s, researches show that there is no unanimity about practical application by managers in several countries. This study, therefore, has the objective of presenting how Brazilian managers define the cost of capital of their companies. Unlike other studies, this work presents clarification not only about the methods and variables that make up the cost of capital, but it also deals with criteria related to time and sources of data collection, as well as the local customization values for emerging markets, taking developed countries as benchmarking. The survey is conducted with 40 public companies. Among the results, we note that companies: (a) internally calculate their cost of capital through WACC, (b) consider their current capital structure, (c) use historical interest rates of debt, (d) use nominal tax rates, (e) use financial current and long term liabilities to determine the total value of debts (f) use CAPM model for cost of equity, with benchmarking of historical data from other markets, adjusted to Brazil. Keywords: survey, cost of capital, WACC tropicalizing, emerging markets.","PeriodicalId":55356,"journal":{"name":"Biotechnologie Agronomie Societe et Environnement","volume":"13 1","pages":"309-330"},"PeriodicalIF":0.7,"publicationDate":"2016-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70250687","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"农林科学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0