Brazilian Business Review http://bbronline.com.br/index.php/bbr <p>BBR - Brazilian Business Review publishes high quality research across all fields of business. Themes include, but are not limited to, management, accounting, controllership, finance, information management, innovation management, strategy, and economics. We welcome papers developed in public, private, or third sector organizations. Published six times a year, BBR is edited and supported by FUCAPE, a top Brazilian business school.</p> <p><img src="/public/site/images/bbr/bbr_pagina_principal.png"></p> <p>ISSN: <a title="ISSN" href="https://portal.issn.org/resource/ISSN/1808-2386" target="_blank" rel="noopener">1808-2386</a> (English)<br> ISSN:&nbsp;<a title="ISSN" href="https://portal.issn.org/resource/ISSN/1807-734X" target="_blank" rel="noopener">1807-734X</a> (Portuguese)</p> FUCAPE Business Shool en-US Brazilian Business Review 1807-734X <p>© Brazilian Business Review</p> Editorial http://bbronline.com.br/index.php/bbr/article/view/559 <p>Dear readers,</p> <p>It is with mixed feelings that I write this editorial. My term as BBR’s Editor-in-Chief is coming to an end. It has been quite an experience running a journal, and certainly I’ll miss it. I would like to thank the previous editors, especially Bruno Funchal, for the faith deposited in me. I think I was able to live up to their expectations, and I feel happy for having contributed with BBR’s progress.</p> <p>In these last two years, we have embraced ORCID, Figshare and the APA citation standard. We migrated to a completely new customized site, bringing a much better user experience. We brought new tools to measure alternative metrics of article impact, PlumX and Altmetric. We have become a Scopus-indexed journal, and we have submitted our request to Web of Science, increasing the reach of your research. We made a guideline for reviewers and a review template to provide our referees with a solid base to provide good reviews. We had the honor of adding outstanding associate editors, Felipe Pontes, Juliana Kopp, and Felipe Ramos. We rethought our ahead of prints in order to keep a closer contact with you. We even had a baby, our editorial assistant Patricia’s daughter! All of this would not have been possible without the support and trust from FUCAPE Business School, CNPq, our associate editors, our editorial assistants Patricia and Rubia, our referees, and you, our authors and readers. Thank you!</p> <p>Our next Editor-in-Chief is going to be Felipe Ramos. Felipe holds a PhD in Accounting and Management from FUCAPE Business School, and is currently an Associate Professor at FUCAPE Business School and a Visiting Scholar at the Indiana University Bloomington. I deeply admire Felipe for his determination, cleverness, character, and high standards. To date he is the only Brazilian, working from a Brazilian institution, to ever publish in the Journal of Accounting and Economics, one of the world’s top 5 journals in accounting &amp; finance. His experience and vision will certainly be indispensable assets for BBR in continuing its mission of internationalization and improvement of research quality. I am sure that I leave BBR in very good hands. Felipe will share with me this year’s remaining ahead of prints and will formally greet you on our next Jan/2020 issue. I’ll keep supporting BBR as co-editor during Felipe’s term.</p> <p>Last, but not least, we are glad that BBR’s editorial experience has been attracting attention from Brazilian authors and editors. We have participated of an editors’ panel in this year’s Meeting&nbsp; of the National Association of Postgraduation and Research in Administration (EnANPAD 2019) through our associate editor, Emerson Mainardes. Emerson will also represent BBR in another panel that will take place at SemeAD 2019 (Seminars in Administration from the University of São Paulo), and I will participate of a similar panel at AdCont 2019 (National Congress of Administration and Accounting from the Federal University of Rio de Janeiro). We hope to meet you there.</p> <p>Without further ado, our first two papers are in a special section about sustainability. On the first, Sousa, Alves, Leocádio &amp; Rossato develop a diagnostic tool model capable of measuring the level of involvement of suppliers in a Supply Chain (CS) with the Environmental Management program of a focal firm. The tool is based on the LARG SCM model, the Dynamic Capabilities model, and the Learning to Grow Methodology. It was tested on the supply chain of a company that was included in the ISE (2017) Corporate Sustainability Index and was validated by the surveyed company, providing a useful instrument for both academics and practitioners. <a href="http://bit.ly/2ODKhaT">http://bit.ly/2ODKhaT</a></p> <p>Next, Souza, Flach, Borba &amp; Broietti investigate whether firms engaging in Corporate Social Responsibility (CSR) have any difference in financial reporting quality (FRQ). Although the literature posits that these firms should display different quality – for better or worse – results point that this is not the case. The study furthers our understanding of the determinants of earnings quality and challenges the current theories linking CSR and FRQ. <a href="http://bit.ly/2nc6XU1">http://bit.ly/2nc6XU1</a></p> <p>On the third paper Pauli, Basso, Gobi &amp; Bilhar explore networks of co-authorship, and how they influence postgraduate programs performance. Results show that the density of the links between researchers follows a curvilinear trend of effect on organizational performance; that is, both highly dense and highly dispersed networks positively influence team performance. The adoption of less dense networks can promote better performance compared with moderately dense networks. However, such a strategy may require more resources because it involves the collaboration of the actors in an organization with their counterparts from other organizations. <a href="http://bit.ly/2HhYwO8">http://bit.ly/2HhYwO8</a></p> <p>Following, Deliberali, Brandão &amp; Bizarrias investigate the extent to which attribute assessments and crowding perception, hedonic and utility value, and satisfaction, interact with economic confidence, and satisfaction to influence performance and repurchase intention. The mediating role of the economic trust between hedonic value and satisfaction was evidenced, proving adjustment of the hedonic value with the decrease of confidence. <a href="http://bit.ly/2ke19bl">http://bit.ly/2ke19bl</a></p> <p>On the fifth paper, Adaid-Castro, Torres &amp; Nascimento conduct a comparative study on how Brazilians’ and Americans’ values relate to their behavior regarding car purchases. With answers from 461 Americans and 570 Brazilians, the structural model shows similarities between consumers from both countries. However, priorities among the motivational types and types of judgment differ, indicating that cultural influences can alter how the evaluation is processed. <a href="http://bit.ly/2mCQ9oP">http://bit.ly/2mCQ9oP</a></p> <p>Closing the issue, Maluf &amp; Asano verify which models for the Value at Risk (VaR), among those that do not consider conditional volatility (Extreme Values Theory and the traditional Historical Simulation), and those that do consider it (GARCH and IGARCH), are adequate for the main index of the Brazilian stock market, the IBOVESPA. The results show that only GARCH family models were adequate. Thus, it is recommended to entities of the National Financial System that keep relevant positions in the Brazilian stock market, the utilization of internal risk models based on conditional volatility, in order to minimize the occurrence of violation clusters. <a href="http://bit.ly/2kKecld">http://bit.ly/2kKecld</a></p> <p>We hope you enjoy our selection of papers. Goodbye, and good reading!</p> <p>Fabio Motoki – Editor-in-Chief - <a href="http://orcid.org/0000-0001-7464-3330">http://orcid.org/0000-0001-7464-3330</a></p> Fabio Motoki Copyright (c) 2019 Brazilian Business Review http://creativecommons.org/licenses/by/4.0 2019-10-31 2019-10-31 16 6 Environmental Management of Larg Supply Chain: A Diagnostic Instrument Proposed for Assessing Suppliers http://bbronline.com.br/index.php/bbr/article/view/555 <p><span style="background-color: #ffffff;">This article addresses Supply Chain Management (SCM), focusing specifically on environmental management systems. A systematic review of the literature identified gaps in SCM studies and supported the development of a diagnostic tool model capable of measuring the level of involvement of suppliers in a Supply Chain (CS) with the Environmental Management program of a focal firm. The results of this study were synthesized in a diagnostic tool on which elaboration was based on the LARG SCM model, the Dynamic Capabilities model, and the Learning to Grow Methodology. The proposed model was structured to measure, through a graph, the level of involvement of the suppliers of an SC with the environmental management requirements based on ISO 14001: 2015. The model was tested on the supply chain of a company that was included in the ISE (2017) Corporate Sustainability Index and was validated by the surveyed company.</span></p> Josiano Cesar de Sousa Murilo Barros Alves Leonardo Leocádio Jaqueline Rossato Copyright (c) 2019 Brazilian Business Review http://creativecommons.org/licenses/by/4.0 2019-11-01 2019-11-01 16 6 537 554 10.15728/bbr.2019.16.6.1 Financial Reporting Quality and Sustainability Information Disclosure in Brazil http://bbronline.com.br/index.php/bbr/article/view/554 <p>Currently, businesses face an information disclosure approach involving the triple bottom line (social, environmental, and financial). This paper aims to investigate the relationship between corporate social responsibility (CSR) information and financial reporting quality (FRQ). We argue that CSR companies behave differently in preparing financial accounting reports. Recent literature supports this theme, providing two distinct hypotheses: transparent financial reporting and retreatment. We used a sample of 1,181 companies from the years 2012 to 2016 to identify if socially responsible companies have better quality financial accounting information. In contrast to the hypotheses raised, we didn’t find a relationship between the CSR disclosures and the FRQ proxies. This suggests that sustainable companies do not explain lower or higher levels of earnings management. Our findings remain unchanged when we replace results management through discretionary accruals for manipulations of operating activities. Estimates with comparable samples also didn’t change the interpretations of the results.</p> João Antônio Salvador de Souza Leonardo Flach José Alonso Borba Cleber Broietti Copyright (c) 2019 Brazilian Business Review http://creativecommons.org/licenses/by/4.0 2019-11-01 2019-11-01 16 6 555 575 10.15728/bbr.2019.16.6.2 The Effect of Co-authorship Network Density on the Performance of Postgraduate Programs http://bbronline.com.br/index.php/bbr/article/view/545 <p>By focusing on the performance of research teams in the management area, this study analyzes the effect of the co-authorship of scientific publications on the performance of postgraduate programs (PPGs) in management. The data was collected from management researchers in Brazil. Along with this, scientific publications from 2013 to 2016 were collected to comprise the social network of each PPG. The evaluation of the PPG was used as the dependent variable. The effects of the density of the co-authorship networks on the programs’ performance was verified. The results show that the density of the links between researchers follows a curvilinear trend of effect on organizational performance; that is, both highly dense and highly dispersed networks positively influence team performance. This study contributes to the literature on networks and team performance by providing evidence that the density of a network is not linearly related to performance.</p> Jandir Pauli Kenny Basso Ravena Lopes Gobi Alissa Bilhar Copyright (c) 2019 Brazilian Business Review https://creativecommons.org/licenses/by/4.0 2019-11-01 2019-11-01 16 6 576 588 10.15728/bbr.2019.16.6.3 Repurchase Intention Conditioned to Economic Confidence in Main Street Retail Districts http://bbronline.com.br/index.php/bbr/article/view/551 <p>The crisis of confidence in Brazil creates a scenario that can influence relations between the attributes of the retailer and consumers. Consumer assessments can be adjusted to economic confidence, leading to more utilitarian values or decreasing the hedonic value of buying experiences. Thus, it is necessary to understand the intervention of economic confidence in the responses of consumers to the attractiveness factors of a retail cluster. We conducted an analysis on the extent to which attribute assessments and crowding perception, hedonic and utility value, and satisfaction, interact with economic confidence, and satisfaction to influence performance and repurchase intention. A survey was carried out in the purchase environment with 300 consumers (region of Rua 25 de Março, São Paulo). Hypotheses were tested by PLS and Process. The mediating role of the economic trust between hedonic value and satisfaction was evidenced, proving adjustment of the hedonic value with the decrease of confidence. Theoretical and practical contributions are discussed in the conclusions.</p> Eliane Tanabe Deliberali Marcelo Moll Brandão Flávio Santino Bizarrias Copyright (c) 2019 Brazilian Business Review http://creativecommons.org/licenses/by/4.0 2019-11-01 2019-11-01 16 6 589 606 10.15728/bbr.2019.16.6.4 What is the Meaning of an Automobile for the Consumer? How Brazilians and Americans Evaluate Cars, a Comparative Model http://bbronline.com.br/index.php/bbr/article/view/553 <p>The objective of this study was to identify the relation between Human Values and behavior in order to judge automobile purchases in Brazil and the United States of America. North Americans (N=461) and Brazilians (N=570) filled out the Portrait Values Questionnaire in its refined version, PVQ-R (Schwartz et al., 2012), the List of Values (Kahle &amp; Kennedy, 1988) and the Judgment and Meaning Scale (Allen, 2000). Using stepwise regressions to determine which Human Value relates better with each type of judgment and attribution of meaning, two structural models were built comparing the influence of each value in each type of judgment both in the United States of America and Brazil. The results showed that in both countries the Human Values have a higher correlation with judgment than the List of Values and can predict the types of judgment and attribution of meaning the subjects use to evaluate automobile purchase, however, the structures are similar but not equal, indicating that cultural influences can alter how the evaluation is processed.</p> Breno Giovanni Adaid-Castro Cláudio Vaz Torres Thiago Gomes Nascimento Copyright (c) 2019 Brazilian Business Review http://creativecommons.org/licenses/by/4.0 2019-11-01 2019-11-01 16 6 607 625 10.15728/bbr.2019.16.6.5 Comparison of VaR Models to the Brazilian Stock Market Under the Hypothesis of Serial Independence in Higher Orders: Are Garch Models Really Indispensable? http://bbronline.com.br/index.php/bbr/article/view/552 <p>Our objective in this article was to verify which models for the Value at Risk (VaR), among those that do not consider conditional volatility (Extreme Values Theory and the traditional Historical Simulation), and those that do consider it (GARCH and IGARCH), are adequate for the main index of the Brazilian stock market, the IBOVESPA. For this purpose, backtesting of adherence and the independence of first and higher orders were implemented for the four models mentioned, over forecast horizons of 1 and 10 days. The contribution is based on a the more rigorous criteria than those used in the literature for validating VaR models, as we performed backtesting for violation independence of higher orders on forecast horizons of 10 days. The results show that only GARCH family models were adequate. Thus, it is recommended to entities of the National Financial System that keep relevant positions in the Brazilian stock market, the utilization of internal risk models based on conditional volatility, in order to minimize the occurrence of violation clusters.</p> Luiz Augusto Finger França Maluf Jéssica Tamy Asano Copyright (c) 2019 Brazilian Business Review http://creativecommons.org/licenses/by/4.0 2019-11-01 2019-11-01 16 6 626 645 10.15728/bbr.2019.16.6.6