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Editorial

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Abstract

I am pleased and honored by the great challenge of replacing Dr. Alexsandro Broedel Lopes as editor-in-chief of BBR - Brazilian Business Review. In its first five years of existence, under the apt guidance of my predecessor, BBR has been dedicated to the construction and updating of knowledge in business administration and related fields, by publishing theoretical and empirical articles, technical essays and other works of recognized scientific quality.


Statistics on access indicate that the magazine has consolidated its position as a periodical for dissemination of knowledge in its areas of specialization. In 2008 there were 46,967 downloads of its articles and 59,272 accesses by readers, for a monthly average of 4,939 accesses. These numbers speak for themselves and demonstrate the service provided by BBR in democratizing access to knowledge.

The success of a periodical like BBR unquestionably mainly involves the voluntary work of a group of qualified people, consisting of its reviewers and assistants. But the responsibility of the editor is certainly no less important. The editor must direct the publication process and maintain the necessary scientific quality. Added to this is the concern for confidential, objective and impartial evaluation of the manuscripts submitted, as quickly as possible.

In practice, some questions are fundamental involving editorial management: How can the secrecy and impersonality of evaluating papers be assured in a close-knit scientific community dedicated to business administration and related fields, as is the case in Brazil? How can it be assured that the reviewers produce careful and timely opinions? And finally, how can manuscripts be processed so they can be published before becoming outdated in today’s rapidly changing world?

These challenges are great, but I believe the complexity of the editorial task only motivates the efforts of those entrusted with this responsibility. In this sense, my firm purpose is to collaborate for the continuing excellence of BBR, always in line with the needs of its readers.

In this first edition of 2009 we present six articles to the scientific community. The first is by Gustavo Rezende de Oliveira and Otavio Ribeiro de Medeiros. The authors examine the provocative theme of the lead-lag effects between the American and Brazilian stock markets. The results indicate the existence of cointegration as well as bi-directional Granger causality. The Brazilian index (Ibovespa) is in large part explained by movements in the Dow Jones index in preceding minutes. However, the transaction costs more than offset the profits that can be obtained from this foreknowledge.

In the next article, Paulo Rogério Faustino Matos and José Alan Teixeira da Rocha analyze the ability to price and forecast returns of the main mutual funds in the Brazilian market, using the capital asset pricing model (CAPM) and models based on the writings of Fama and French (1993) and Carhart (1997). The results show that the CAPM performs better than the other methods studied when applied to investment funds that track the performance of the São Paulo Stock Exchange (Bovespa).

In this edition’s third article, Henrique Formigoni, Maria Thereza Pompa Antunes and Edilson Paulo examine the theme of taxation with respect to companies’ financial statements, seeking insight into the composition of the difference between accounting and taxable income (book-tax differences - BTD) among listed Brazilian companies. They seek to identify and explain this difference and whether it can mainly be attributed to earnings management or tax management.

The fourth article, by Ricardo D. Brito, Julio Cesar Guilherme da Silva and Mônica Ramos Lima, also covers taxation. The authors demonstrate that the increased distribution of cash payouts to stockholders by Brazilian companies can be explained by the fact the country’s tax structure favors direct remuneration. A further analysis of the two forms of cash payouts – dividends and interest on stockholders’ equity – shows that the latter has become the main mechanism for direct distribution of earnings.  

Jose Dutra de Oliveira Neto, Victor de Oliveira and Cláudio de Souza Miranda are the authors of the fifth article this edition. In a work of great relevance for educators, they evaluate the existence of significant variations in cognitive styles in function of the academic profile of students majoring in accounting sciences. The instrument used to identify the cognitive styles, specifically regarding field dependence-independence perceptive processes, was the group embedded figures test(GEFT). According to the authors’ findings, by recognizing the cognitive differences among students, it is possible to formulate more effective teaching methods.

In the last article in this edition, Grace Vieira Becker, Bruno Henrique Rocha Fernandes, Marcelo Gattermann Perin and Cláudio Hoffmann Sampaio seek to identify the influence of management training programs on business performance. The article reports the results of an exploratory multiple-case study involving interviews with thirty executives of the firms analyzed. The conclusions present a panorama of the main individual, group and organizational changes resulting from the relationship between management training and business performance.

In the expectation that all will find articles of interest in this edition, I wish you good reading!
How to Cite
Martinez, A. (2009). Editorial. Brazilian Business Review, 6(1). Retrieved from http://bbronline.com.br/index.php/bbr/article/view/403
  Submitted
Jun 28, 2018
Published
Jan 1, 2009
Abstract Views
125

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