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> en-US <p>© Brazilian Business Review</p> bbronline@bbronline.com.br (Patricia Motoki) bbronline@bbronline.com.br (Patricia Motoki) Wed, 01 Jan 2020 11:08:16 +0000 OJS 3.1.2.4 http://blogs.law.harvard.edu/tech/rss 60 Editorial http://bbronline.com.br/index.php/bbr/article/view/568 <p>Dear readers,</p> <p>After years as a reader, reviewer and Associate Editor, it is with a great pleasure that I assume as BBR’s Editor-in-Chief. First of all, I would like to thank all the previous BBR’s Editors-in-Chief and the current Editorial Board, who have done a great job so far. I especially thank the now Co-Editor Prof. Dr. Fabio Motoki for his dedication over the last years leading BBR and for conducting the transition in a natural and careful way.</p> <p>I hope that in my tenure I can continue BBR’s growth in the national and international academia. To achieve this goal we will focus on the quality of published research and on new ways to make the reading experiencie more enjoyable for our readers.</p> <p>Opening the issue, Zanon &amp; Dantas study the stock market reaction to the issuance of instruments of debt eligible as capital (IDECs) by Brazilian banks. Based on 30 instruments issued during the period 12/2008 - 09/2017, the event study estimates indicate that these instruments have an adverse effect on the stock market value of the issuing banks. The result deepens our understanding of the effects of prudential regulations for banking and may assist banks in making decisions about capitalization. http://bit.ly/31GcIb5</p> <p>Our second paper, from Loch, Silva, Bueno &amp; Marcon, examines the principal-principal conflicts in mixed state-private ownership companies in the Brazilian electric power industry. Using a qualitative approach and collecting data from semistructured interviews with board members, the main findings suggest that while firms can benefit from a channel to the government to obtain support and resources, it also creates a series of distortions and uncertainties, exacerbating principal-principal conflicts. The study sheds light on how different conflicts of interest arise from different ownership structures, as well as potential benefits they may bring and possible measures to mitigate their side effects. http://bit.ly/2CA90FG</p> <p>Next, Garrido, Kretschmer, Vasconcellos &amp; Gonçalo propose and validates a scale for the measurement of Dynamic Capabilities based on Teece’s conceptual dimensions. The results, besides validating the scale, showed Teece’s three conceptual dimensions exhibited different behavior in relation to each dimension of performance. The results may help to explain some of the fuzzy results of previous studies that used proxies to measured Dynamic Capabilities. http://bit.ly/2F9bQ5Q</p> <p>Our fourth paper, from Lima, Serra, Soares &amp; Lima, analyzes whether Institutional Development Plans (IDP) are strategic documents or simply a response to seeking legitimacy in the face of regulatory pressures. Based on a content analysis of the IDPs of Brazilian universities, the results indicate that the IDPs tend to be documents that seek to provide legitimacy to the universities in relation to the actors involved. Therefore, they are not being prepared and used only due to institutional demands, but mainly due to legal impositions, having little strategic focus. The results allow us to better understand the role and usefulness of the IDP as a consolidating document of organizational strategy. http://bit.ly/2P2aSy5</p> <p>Following, Moreno, Coelho &amp; Pitassi examine how IT outsourcing can influence the absorptive and innovative capacity of organizations. Based on a multiple case study of the insurance industry, results indicate that the connections between the supplier relationship strategy, the stance of the IT area of the client company, as well as its previous activity and level of knowledge, are essential to determine the absorptive and innovative capacity. The results help us understand how organizations can benefit from IT outsourcing in their business. http://bit.ly/2QLVtDg</p> <p>Closing the issue, Saraiva, Santos &amp; Pereira, examine the masculinity associated to heteronormativity in a gay app from the users’ point of view. Using an inductive study based on semistructured interviews with Grindr app users, results suggest that the app is used as a contemporary form of sociability, mainly because it provides comfort and distance from segregated spaces. At the same time, it allows discretion in sexual encounters, which only happen between “equals”: white, young, athletic, handsome, and not effeminate men, and all those who differ from this profile are repelled. The findings highlight how technologies like this can aggravate marginalization of those already on the society fringes if forms of sociability continue to reproduce the oppression of prevailing heteronormativity. http://bit.ly/2IHqW4F</p> <p>I hope you enjoy our selection of papers. Good reading to all!</p> <p>Felipe Ramos – Editor-in-Chief - <a href="https://orcid.org/0000-0002-0469-9176">https://orcid.org/0000-0002-0469-9176</a></p> Felipe Ramos Copyright (c) 2020 Brazilian Business Review http://creativecommons.org/licenses/by/4.0 http://bbronline.com.br/index.php/bbr/article/view/568 Wed, 01 Jan 2020 00:00:00 +0000 Annual Editor Report 2019 http://bbronline.com.br/index.php/bbr/article/view/566 <p>In the hopes of creating a tradition, we bring you the second Annual Editor Report from Brazilian Business Review. Differently from the previous one, this report has been written jointly by me, Felipe Ramos, BBR’s new Editor-in-Chief, with now Co-Editor Fabio Motoki. It will be an honor to serve as Editor-in-Chief of BBR for years to come. Enjoy the reading!</p> <p>&nbsp;</p> Felipe Ramos, Fabio Motoki Copyright (c) 2020 Brazilian Business Review http://creativecommons.org/licenses/by/4.0 http://bbronline.com.br/index.php/bbr/article/view/566 Wed, 01 Jan 2020 00:00:00 +0000 Market Reaction to the Issuance of Capital Instruments by Brazilian Banks http://bbronline.com.br/index.php/bbr/article/view/558 <p><span style="background-color: #ffffff;">Banks are allowed to employ debt instruments in order to meet the minimum requirements of capital, as long as they comply with the subordination agreements as determined by the Basel Accords. This paper takes account of the effective powers of these instruments, viewed from the standpoint of the investors, and seeks to assess their impact on the return on investments in the shares of the issuing banks within Brazil’s capital markets. The article is, to a large extent, based on the research findings of Ammann et al (2017). The results of the empirical tests - which were conducted by means of event studies that involved issuing 30 instruments during the period 12/2008 - 09/2017 - suggest that the issuances or announcements of these instruments had an adverse effect on the stock market value of the issuing banks. In addition, evidence was obtained that the market is unable to forecast the effects of these instruments before they take place. This paper seeks to contribute to the current literature on prudential regulations for banking and it hopes to assist banks in making decisions about capitalization.</span></p> André Ricardo Moncaio Zanon, José Alves Dantas Copyright (c) 2020 Brazilian Business Review http://creativecommons.org/licenses/by/4.0 http://bbronline.com.br/index.php/bbr/article/view/558 Wed, 01 Jan 2020 00:00:00 +0000 The Government as Shareholder and Principal-Principal Conflicts in the Brazilian Electric Power Industry http://bbronline.com.br/index.php/bbr/article/view/560 <p>Considering that principal-principal conflicts in companies under mixed public-private ownership are substantially different from the typical agency conflict model, this paper’s objective is to analyze principal-principal conflicts in mixed ownership companies in the Brazilian electric power industry. In order to expand understanding of the phenomenon which we are studying, we have integrated the assumptions that underlie agency theory and institutional theory, using a qualitative approach and collecting data during semi structured interviews with companies’ board members. Data was analyzed and interpreted as per Bardin (2006), with the aid of ATLAS®ti software. Our main findings suggest that while a government stake in a firm’s ownership structure can provide a useful channel for the government to seek support and resources, in counterpoint, it can also create distortions and uncertainties, and exacerbate principal-principal conflicts. The development of stronger institutions and corporate governance could bring about useful options for providing checks and balances and, in the final analysis, mitigate principal-principal conflict. The article contributes to the literature by providing additional elements that are not available in public reports. Analysis of the conflict between principal and principal, together with theoretical integration, seek to broaden the understanding of this theme.</p> Murialdo Loch, Jaison Caetano Silva, Giovana Bueno, Rosilene Marcon Copyright (c) 2020 Brazilian Business Review http://creativecommons.org/licenses/by/4.0 http://bbronline.com.br/index.php/bbr/article/view/560 Wed, 01 Jan 2020 00:00:00 +0000 Dynamic Capabilities: A Measurement Proposal and its Relationship with Performance http://bbronline.com.br/index.php/bbr/article/view/564 <div class="page" title="Page 1"> <div class="layoutArea"> <div class="column"> <p>Despite the relevance and growth of research into Dynamic Capabilities, certain gaps and criticisms remain. These issues are primarily related to the measurements of Dynanic Capabilities and its impacts on performance. There is a lack of empirical research that is attempting to investigate the existence, development, and orchestration of Dynamic Capabilities to support superior performance. This paper proposes and validates a scale for the measurement of Dynamic Capabilities based on Teece’s conceptual dimensions (sense, seizing and reconfiguring) through a survey presented in a highly dynamic industry and market, and by investigating the impact on performance. The results, besides validating the scale, showed Teece ́s three conceptual dimensions exhibited different behavior in relation to each dimension of performance. Sense and Reconfiguration demonstrated a negative relationship with organizational performance while Seize is positively associated with performance. This may help explain some of the fuzzy results of previous studies that used proxies to measure Dynamic Capabilities.</p> </div> </div> </div> Ivan Lapuente Garrido, Caroline Kretschmer, Silvio Luis de Vasconcellos, Cláudio Reis Gonçalo Copyright (c) 2020 Brazilian Business Review http://creativecommons.org/licenses/by/4.0 http://bbronline.com.br/index.php/bbr/article/view/564 Wed, 01 Jan 2020 00:00:00 +0000 Strategy or Legitimacy? Analysis of the Role of Institutional Development Plans in Brazilian Universities http://bbronline.com.br/index.php/bbr/article/view/562 <div class="page" title="Page 1"> <div class="layoutArea"> <div class="column"> <p>The aim of this study is to analyze whether Institutional Development Plans (IDP) are strategic documents or simply a response to seeking legitimacy in the face of regulatory pressures. This is a qualitative study based on information from 20 IDPs of Brazilian universities, categorized as private, public, community, or confessional. To analyze the IDPs, the content analysis methodology was used. As a result, it was found that most IDPs are much more descriptive documents, with operational goals and plans, than documents with strategic characteristics. On the other hand, in most of the documents analyzed, there was evidence of the importance and relevance of constructing an IDP as a benefit for the management and the university organization as a whole. It was concluded that IDPs tend to be documents that seek to provide universities with legitimacy in relation to the actors involved. In other words, they converge towards institutional isomorphism. Thus, they are not prepared, and used only due to institutional demands, but mainly due to legal impositions.</p> </div> </div> </div> Maurício Andrade Lima, Fernando Antônio Ribeiro Serra, Thiago Coelho Soares, Carlos Rogerio Montenegro de Lima Copyright (c) 2020 Brazilian Business Review http://creativecommons.org/licenses/by/4.0 http://bbronline.com.br/index.php/bbr/article/view/562 Wed, 01 Jan 2020 00:00:00 +0000 Outsourcing of IT and Absorptive Capacity: A Multiple Case Study in the Brazilian Insurance Sector http://bbronline.com.br/index.php/bbr/article/view/561 <p>Sources of external knowledge are critical to the implementation of strategies to achieve innovation, especially in the case of information technology. The concept of absorptive capacity reflects the ability of firms to obtain, assimilate, combine, and extract advantages from external knowledge to generate innovations. The objective of this multiple case study was to investigate how outsourcing of IT can influence the absorptive and innovative capacity of organizations, focused on the insurance sector. The results of comparing four insurers with different degrees of innovation and adoption of IT outsourcing indicate that the connections between the strategy of relationship with suppliers and the stance of the IT area of the cliente company, and its previous activity and level of knowledge, are essential to determine the absorptive and innovative capacity. Besides this, companies that neglect outsourcing of IT to leverage their absorptive and innovative capacity can suffer significant harm regarding the use of resources, agility, and competitiveness.</p> Valter Moreno, Marcello A. S. Coelho, Claudio Pitassi Copyright (c) 2020 Brazilian Business Review http://creativecommons.org/licenses/by/4.0 http://bbronline.com.br/index.php/bbr/article/view/561 Wed, 01 Jan 2020 00:00:00 +0000 Heteronormativity, Masculinity and Prejudice in Mobile Apps: The Case of Grindr in a Brazilian City http://bbronline.com.br/index.php/bbr/article/view/557 <p><span style="background-color: #ffffff;">In this study our goal was to examine the masculinity associated to heteronormativity in a gay app from the users’ point of view, which was made through an inductive study based on semistructured interviews with app users. Main results suggest that Grindr is used as a contemporary form of sociability, mainly because it provides comfort and distance from segregated spaces. At the same time, it allows discretion in sexual encounters, which only happen between “equals”: white, young, athletic, handsome, and not effeminate men, and all those who differ from this profile are repelled. Heteronormativity imposes a pattern of masculinity that has overwhelmed everyone indiscriminately. Those who do not fit this profile can only be resigned to a secondary role at virtual community. Thus, technologies like this can aggravate marginalization of those already on the society fringes if forms of sociability continue to reproduce the oppression of prevailing heteronormativity.</span></p> Luiz Alex Silva Saraiva, Leonardo Tadeu dos Santos, Jefferson Rodrigues Pereira Copyright (c) 2020 Brazilian Business Review http://creativecommons.org/licenses/by/4.0 http://bbronline.com.br/index.php/bbr/article/view/557 Wed, 01 Jan 2020 00:00:00 +0000