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2. ANÁLISE DO DESEMPENHO ECONÔMICO-FINANCEIRO DE EMPRESAS BRASILEIRAS QUE REALIZARAM OPERAÇÕES DE FUSÕES E DE AQUISIÇÕES.
- Author
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Truta do Bomfim, Emanoel and Cunha Callado, Aldo Leonardo
- Abstract
Copyright of Revista de Ciências da Administração is the property of Universidade Federal de Santa Catarina, Departamento de Ciencias da Administracao and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2016
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3. GESTÃO AMBIENTAL EM EMPRESAS NASCIDAS NO RIO GRANDE DO SUL - UM ESTUDO COMPARATIVO COM OUTRAS EMPRESAS BRASILEIRAS.
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da Silva Cyrne, Carlos Candido, Haetinger, Claus, and Rempel, Claudete
- Abstract
Copyright of Revista Producao Online is the property of Associacao Brasileira de Engenharia de Producao and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2015
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4. RELAÇÕES ENTRE OS CONSELHOS DE ADMINISTRAÇÃO E OS ASPECTOS AMBIENTAIS, SOCIAIS E DE GOVERNANÇA NAS EMPRESAS BRASILEIRAS LISTADAS NA B3.
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Sousa Cavalcante, Danival and Noronha Bandeira, João Mateus
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BOARDS of directors ,BUSINESS enterprises - Abstract
Copyright of Journal of Management Analysis / Revista Gestão em Análise is the property of Revista Gestao em Analise and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2024
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5. The incidence of impairment of non-current assets in the face of the covid-19 crisis
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Alan Simon Bravo, Verônica de Fátima Santana, and Raquel Wille Sarquis
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asset impairment ,non-current assets ,covid-19 ,Brazilian companies ,Business ,HF5001-6182 ,Finance ,HG1-9999 - Abstract
ABSTRACT This papers aims to investigate whether the incidence of impairment of non-current assets increased with the advent of the covid-19 crisis. The Brazilian accounting literature on the impact of covid-19 on businesses still lacks empirical evidence, especially on the impact of the crisis on long-term accounting variables, for which the effect of covid-19 is more difficult to determine. The topic is relevant because it provides investors, regulators, preparers, and auditors with insights into the impact that a future crisis similar to covid-19 could have on businesses. The work is also relevant to academia, as it is one of the first to analyze the effect of the pandemic on long-term assets. The findings allow us to reflect on how companies and sectors are more or less exposed to the risk of impairment in crises, providing inputs for investment decision making in these scenarios. We studied 383 Brazilian publicly traded companies registered with the Brazilian Securities and Exchange Commission (CVM) between 2016 and 2020. To test the hypothesis of this research, we manually collected the recognitions and reversals of impairment losses in 1,805 financial statements and, then, estimated a set of linear regression models with using fixed effects panel data. We found a positive and significant relationship between the effects of the covid-19 crisis and the incidence of impairment of non-current assets in Brazilian firms, which persisted even after controlling for various economic and financial factors. By separating the impairment of fixed and intangible assets, the findings suggest that intangible assets were more exposed to the covid-19 crisis than fixed assets. The results remained robust to various econometric analyses, including industry patterns, sub-samples, and the effect of the audit firm. This research contributes to the academic and professional debate by confirming the correlation between this crisis and the impairments recorded in financial statements, studying their effects on the accounting of non-current assets and on the long-term returns of the companies and sectors analyzed.
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- 2024
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6. Explicações para a divulgação voluntária ambiental no Brasil utilizando a análise de regressão em painel.
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Rover, Suliani, Tomazzia, Eduardo Cardeal, Murcia, Fernando Dal-Ri, and Borba, José Alonso
- Abstract
Copyright of Revista de Administração is the property of Instituto de Administracao da FEA-USP and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2012
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7. CARACTERÍSTICAS DA LOCALIZAÇÃO NO PROCESSO DE INTERNACIONALIZAÇÃO DE EMPRESAS.
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Kovacs, Érica Piros, de Moraes, Walter Fernando Araújo, and de Oliveira, Brigitte Renata Bezerra
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INDUSTRIAL location ,INTERNATIONAL business enterprises ,GLOBALIZATION ,AGRICULTURAL industries ,BUSINESS enterprises ,COMPARATIVE studies - Abstract
Copyright of RAE: Revista de Administração de Empresas is the property of Fundacao Getulio Vargas and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2011
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8. DISCLOSURE VIA WEBSITE CORPORATIVO: UM EXAME DE INFORMAÇÕES FINANCEIRAS E DE GOVERNANÇA NO MERCADO BRASILEIRO.
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Wesley Mendes-da-Silva, Ferraz-Andrade, José Mauro, Famá, Rubens, and Filho, Jorge Arnaldo Maluf
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DISCLOSURE ,BUSINESS enterprises ,INDUSTRIAL management ,CORPORATE governance - Abstract
Copyright of RAE: Revista de Administração de Empresas is the property of Fundacao Getulio Vargas and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2009
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9. A CONSTRUÇÃO DE METODOLOGIA DE PESQUISA QUALITATIVA COM VISTAS À APREENSÃO DA REALIDADE ORGANIZACIONAL BRASILEIRA: estudos de casos múltiplos para proposição de modelagem conceitual integrativa.
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Neto, Rivadávia C. Drummond de Alvarenga, Barbosa, Ricardo Rodrigues, and Cendón, Beatriz Valadares
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Copyright of Informacao & Sociedade: Estudos is the property of Universidade Federal de Campina Grande, Centro de Humanidades and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2006
10. Impacto do Marketing Interno sobre a Orientação para o Mercado em Empresas Brasileiras.
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de Morais, Iara Dantas Cordeiro and Maria Soares, Ana
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The internal marketing concept refers to visualizing employees as internal consumers and emphasizes the need to listen to and satisfy employees as a requisite to satisfying company customers. This paper focuses, then, on the influence of internal marketing on the adoption of a corporate culture oriented to customers; i.e., a marketing orientation. Based on operationalization of the internal marketing concept from Lings and Greenley (2005), we propose a conceptual model for connections between the internal market orientation and market orientation concepts. The results of an empirical study based on a questionnaire applied to 109 Brazilian firms from several economic sectors corroborate the proposed model. The adoption of internal market oriented behavior, particularly the dimensions relative to the dissemination of information and implementation of responses, influences external market orientation and its dimensions (information production, information disclosure and response). [ABSTRACT FROM AUTHOR]
- Published
- 2016
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11. Gestão da informação e do conhecimento organizacionais: em busca de uma heurística adaptada à cultura brasileira.
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Junqueira Henrique, Luiz Cláudio and Rodrigues Barbosa, Ricardo
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Copyright of Perspectivas em Ciência da Informaçao is the property of Nova Economia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2005
12. Títulos Verdes e Desempenho: Uma análise das empresas brasileiras de capital aberto.
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Gonçalves Gomes, Túlio, Lima Silva Borsatto, Jaluza Maria, and Alves de Araújo, Aracy
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GREEN bonds ,CLIMATE change adaptation ,FINANCIAL instruments ,FINANCIAL performance ,PROJECT finance ,PUBLIC companies - Abstract
Copyright of Revista de Ciências da Administração is the property of Universidade Federal de Santa Catarina, Departamento de Ciencias da Administracao and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2022
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13. Fatores determinantes da estrutura de capital de empresas brasileiras.
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Klotzle, Marcelo Cabus and Biagini, Fábio Luiz
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FINANCIAL performance ,PUBLIC sector ,METHODOLOGY ,PROFITABILITY ,CAPITAL structure ,MARKET volatility ,EXTERNAL debts ,DEVALUATION of currency - Abstract
Copyright of Revista de Economia e Administração is the property of INSPER Instituto de Ensino e Pesquisa and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2004
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14. Governança corporativa e performance empresarial no Brasil.
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Klotzle, Marcelo Cabus and Silva, Fernanda Maciel
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CORPORATE governance ,MINORITY stockholders ,INVESTORS ,ECONOMIC globalization ,REGRESSION analysis ,STATISTICS ,MARKET value - Abstract
Copyright of Revista de Economia e Administração is the property of INSPER Instituto de Ensino e Pesquisa and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2003
- Full Text
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15. ANALYSIS OF CORPORATE GOVERNANCE DISCLOSURE: A STUDY ON BRAZILIAN COMPANIES.
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Colares Oliveira, Marcelle, Ceglia, Domenico, Silva Lima, Lais, and Rodrigues Ponte, Vera Maria
- Abstract
Copyright of Contextus: Revista Contemporanea de Economia e Gestao is the property of Contextus: Revista Contemporanea de Economia e Gestao and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2017
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16. COMPORTAMENTO ESTRATÉGICO ORGANIZACIONAL E A PRÁTICA DE GERENCIAMENTO DE RESULTADOS NAS EMPRESAS BRASILEIRAS.
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Dal Magro, Cristian Baú, de Jesus Silva, Thiago Bruno, and Klann, Roberto Carlos
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STRATEGIC thinking in business ,EARNINGS management ,OPPORTUNISM (Psychology) ,ORGANIZATIONAL behavior ,CORPORATE accounting ,ECONOMIC competition ,CORPORATIONS - Abstract
Copyright of Revista Ibero-Americana de Estratégia (RIAE) is the property of Revista Ibero-Americana de Estrategia/UNINOVE and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2017
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17. CARACTERÍSTICAS DA LOCALIZAÇÃO NO PROCESSO DE INTERNACIONALIZAÇÃO DE EMPRESAS
- Author
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Érica Piros Kovacs, Walter Fernando Araújo de Moraes, and Brigitte Renata Bezerra de Oliveira
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Internationalization process ,localization ,adaptive theory ,Brazilian companies ,agribusiness ,Business ,HF5001-6182 - Abstract
This paper aims to analyze what extent the location influences the internationalization process of Brazilian companies. From fivemodels of internationalization, that key concept is cross compared to explain the empirical analysis of the cases. The research is characterized by its longitudinal approach and methodological procedures based on the adaptive theory. Data analysis was performed in two stages: descriptive and the method of constant comparison, both using ATLAS/ti software. Based on the concept properties, four significant events emerged, with distinct dominance over time: trends, and comparative locational advantages (transactional and comparative) and disadvantages. The results show thatthe comparative advantages were decisive for the start of the internationalization and boosted the trends in the region. Transactional benefits are present in later stages, acquired through the opening of subsidiaries abroad. Locational disadvantages were also perceived throughout the whole process due to unforeseen chance events
- Published
- 2011
18. DISCLOSURE VIA WEBSITE CORPORATIVO: UM EXAME DE INFORMAÇÕES FINANCEIRAS E DE GOVERNANÇA NO MERCADO BRASILEIRO
- Author
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Jorge Arnaldo Maluf Filho, Rubens Famá, Wesley Mendes-da-Silva, and José Mauro Ferraz-Andrade
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Disclosure ,Brazilian companies ,corporate governance ,Internet ,investor relations. ,Business ,HF5001-6182 - Abstract
The objective of this paper is to analyze the relationship between the voluntary disclosures of relevant information on the websites of a sample of 282 non-financial Bovespa-listed publicly-quoted companies. Based on the relevance of the corporate information (financial and governance) assessed by the information intermediaries and that provide the basis for constituting weighted disclosure indices the results suggest that there is more disclosure: i) the bigger the firm is and the bigger the return on company shares; ii) in companies that have a special type of corporate governance; iii) for those categories of corporate information that are more requested by the rating agencies and by stock brokers; iv) in companies with larger debts.
- Published
- 2009
19. DETERMINANTES DAS PRÁTICAS DE GOVERNANÇA CORPORATIVA: UM ESTUDO NAS EMPRESAS REGISTRADAS NA CVM.
- Author
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Rocha Mapurunga, Patrícia Vasconcelos, Rodrigues Ponte, Vera Maria, and Oliveira, Marcelle Colares
- Abstract
Copyright of Advances in Scientific & Applied Accounting is the property of Associacao Nacional de Programas de Pos-graduacao em Ciencias Contabeis and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2015
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20. COMPORTAMENTO ASSIMÉTRICO DOS CUSTOS NAS EMPRESAS BRASILEIRAS LISTADAS NA BM&FBOVESPA.
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Richartz, Fernando, Borgert, Altair, and João Lunkes, Rogério
- Abstract
Copyright of Advances in Scientific & Applied Accounting is the property of Associacao Nacional de Programas de Pos-graduacao em Ciencias Contabeis and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2014
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21. A relação entre o spread de crédito e o rating de bonds de empresas brasileiras
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Gomes, Rafael Pacheco, Escolas::EPGE, Teles, Caio Augusto Colnago, Hartung, Gabriel Chequer, and Souza, Tiago Carvalho Machado de
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Risco (Economia) ,Estudo de evento ,Moody's ,Brazilian companies ,Empresas brasileiras ,Spread de crédito ,Corporate debt ,S&P ,Upgrade ,Análise de crédito ,Taxas de juros ,Dívida corporativa ,Downgrade ,Sociedades comerciais - Dívidas - Brasil ,Event study ,Rating ,Fitch ,Finanças ,Credit spread ,Crédito bancário - Abstract
Este estudo busca investigar os efeitos das avaliações de qualidade de crédito da dívida corporativa brasileira promovidas pelas três principais agências de rating – Standard & Poor’s, Moody’s e Fitch – no spread de crédito das emissões entre 2012 e 2018. Buscou-se observar o impacto nos spreads em uma janela de 90 dias úteis antes e depois do evento de rating, atentando para que momentos se observa variação relevante e com que magnitude, inferindo, portanto, a eficiência informacional dessas avaliações. Tais inferências são importantes visto que as empresas brasileiras passaram a acessar o mercado internacional de dívida corporativa há pouco tempo, se comparadas às empresas dos países desenvolvidos, sendo, portanto, relevante a contribuição para literatura acerca do tema no caso do Brasil. Foram utilizadas análises econométricas de quebra de nível dos spreads em intervalos de tempo pré-definidos em torno do evento, controlando por efeitos de custo de financiamento global, através da curva soberana dos títulos norte-americanos, da percepção de risco soberano brasileiro, através do risco-país, e do VIX, índice de volatilidade do mercado norte-americano. As evidências encontradas indicam impactos significativos das mudanças de rating nos spreads idiossincráticos das emissões, com reduções para upgrades e aumentos para downgrades, com algumas diferenças em relação à literatura sobre o tema. Ademais, observamos que o efeito no spread total para upgrades vem majoritariamente da redução do spread idiossincrático, enquanto os aumentos nos downgrades vêm principalmente de pioras sistêmicas. Estes efeitos variam quando analisada cada agência separadamente, sendo Moody’s e S&P com efeitos similares e Fitch sem impacto estatisticamente significativo. The study conducted in this paper investigates the effects on the credit spread of Brazilian corporate debt of credit rating changes by the three main agencies – Standard & Poor’s, Moody’s and Fitch – between 2012 and 2018. The impact on credit spreads was observed in a time window of 90 days before and after the rating event, focusing on which moments relevant variation occurred and with which magnitude, thus investigating informational efficiency of the ratings. Such inferences are important considering Brazilian companies accessed international corporate debt markets relatively recently in comparison to companies on developed markets, therefore turning relevant the contribution to the literature on this area for the Brazilian case. Econometric analysis on level breaking of the spreads in predefined time intervals was performed around the event, controlling for effects of global financing costs through the sovereign yield curve of the US, by the risk perception on Brazilian sovereign debt through country risk spread and by the VIX, index that measures volatility in the US stock market. Evidence indicates significative impact of rating changes on spreads with reductions on upgrades and rises on downgrades, which differs in some points with the literature on the theme. Furthermore, the reductions on total spread derives mainly from idiosyncratic effects on the company, while rises on downgrades come mostly from systemic effects. These effects depend on which agency is being analyzed, with Moody’s and S&P being the most relevant and Fitch with no or dubious significant impact.
- Published
- 2019
22. The influency of green marketing in the competitive estrategy of brazilian companies
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Zandona, Leonardo, Moura, Gilnei Luiz de, Battistella, Luciana Flores, Barbieri, Jose Carlos, and Wittmann, Milton Luiz
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Green marketing ,Brazilian companies ,Estratégia competitiva ,Empresas brasileiras ,CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO [CNPQ] ,Competitive strategy - Abstract
The widely accepted concept of sustainability affects people, governments and enterprises in different ways and requires the incorporation of new strategies. This dissertation aims to investigate the Green Marketing strategies adopted by Brazilian companies listed in the Business Sustainability Index of the São Paulo Stock Exchange (BOVESPA) and what is its influence on their competitive strategy. A qualitative approach was chosen, using multiple case study. As the unit of analysis five Brazilian companies were selected (pulp and paper, chemical, steel, banking and finishing products for construction) from the Business Sustainability Index of BOVESPA this year. Data collection took place in São Paulo and Porto Alegre, from July to August 2010, through semi-structured interviews conducted in loco with corporate managers. Other sources used were direct observation, documents and publications, and physical artifacts. Regarding the reasons that lead companies to adopt the Green Marketing, CSR is seen as the main reason. It was observed that the main change agents are the companies themselves and not the Brazilian consumers, who still demand for few green products. Analyzing the studied companies as industrial consumers, they play an important role in its production chain, requiring its suppliers to deliver green supplies, materials and services. Green gauge segmentation is difficult to implement as a strategy in Brazil. The findings indicate the practice of the following Green Marketing strategies: Lean Green, Shaded Green and Extreme Green (GINSBERG and BLOOM, 2004), Eco-efficiency, Beyond Compliance Leadership, Eco-branding and Environmental Cost Leadership (ORSATO, 2006); Green attributes and non-green attributes (OTTMAN, STTAFORD and HARTMAN, 2006), Green brand positioning by functional attributes and Green brand positioning by emotional benefits (HARTMANN, APAOLAZA IBAÑEZ and FORCADA-SAINZ, 2005) and Green Strategy (GRANT, 2007). Regarding the influence of Green Marketing in the competitive strategy, the results indicate that all companies adopt the Systemic Strategy (WHITTINGTON, 2002), and the Strategic Approach to Environmental Management (BARBIERI, 2007). The results also indicates that companies consider the sustainability in their mission and in their view, develop lines of green products and services or make green current products and services, adopting or not green brands; lead changes in its production process that result in environmental gains and cost reduction, and tend not to practice the premium price. The changes made by companies have a strategic character, not tactical, and a proactive attitude. It was concluded that by adopting different strategies of Green Marketing, the studied companies are anticipating the future expected high demand for green products by Brazilians consumers and expect thereby gain competitive advantage. Green Marketing is thus incorporated into strategic planning in all studied cases, and their practice shows growing up. The importance of this study lies both in the systematization of knowledge about Green Marketing and the empirical validation of the strategies of Brazilian companies. A noção de sustentabilidade, largamente aceita, afeta pessoas, governos e empresas de diferentes modos e exige a incorporação de novas estratégias por parte dos mesmos. A presente dissertação tem por objetivo investigar quais as estratégias de Green Marketing adotadas por empresas brasileiras listadas no Índice de Sustentabilidade Empresarial da Bolsa de Valores de São Paulo e qual a sua influência na estratégia competitiva das mesmas. Foi utilizada a abordagem qualitativa por meio de estudo de casos múltiplos. Como unidade de análise foram selecionadas cinco empresas brasileiras (papel e celulose, química, siderúrgica, banco e produtos de acabamento para construção civil) que integram o Índice de Sustentabilidade Empresarial da BOVESPA no presente ano. A coleta dos dados aconteceu nas cidades de São Paulo e Porto Alegre, no período de julho a agosto de 2010, por meio de entrevistas semi-estruturadas, conduzidas in loco com gestores das empresas. Outras fontes utilizadas foram observação direta, documentos e publicações e artefatos físicos. Com respeito a razões que levam as empresas a adotarem o Green Marketing, a responsabilidade social é apontada como a principal razão. Observou-se que o grande agente de transformação são as próprias empresas e não os consumidores brasileiros, que ainda demandam pouco por produtos verdes. Analisando as empresas estudadas como consumidores industriais, estas desempenham um papel importante em sua cadeia produtiva, exigindo que seus fornecedores entreguem insumos, matérias-primas e serviços verdes. A segmentação verde mostrou-se uma estratégia de difícil aplicação no país. Identificou-se, porém, a prática das seguintes estratégias de Green Marketing: Verde Escasso, Verde Matizado e Verde Extremo (GINSBERG e BLOOM, 2004); Ecoeficiência, Beyond Compliance Leadership, Eco-branding e Liderança em Custo Ambiental (ORSATO, 2006); Atributos verdes e Atributos não-verdes (OTTMAN, STTAFORD e HARTMAN, 2006); Posicionamento de Marcas Verdes por Atributos Funcionais e Posicionamento de Marcas Verdes por Benefícios Emocionais (HARTMANN, APAOLAZA-IBAÑEZ e FORCADA-SAINZ, 2005); e Estratégia Verde (GRANT, 2007). Com respeito à influência do Green Marketing na estratégia competitiva, os resultados indicam que todas as empresas adotam a Estratégia Sistêmica (WHITTINGTON, 2002) e a Abordagem Estratégica de Gestão Ambiental (BARBIERI, 2007). Os resultados dão conta ainda que as empresas consideram em sua missão e em sua visão a condição de sustentabilidade; desenvolvem linhas de produtos e serviços verdes ou tornam verdes os produtos e serviços existentes, adotando ou não marcas verdes; conduzem mudanças em seu processo produtivo que resultam em ganhos ambientais e redução de custos; e tendem a não praticar o preço premium. As mudanças efetuadas pelas empresas têm um caráter estratégico, e não tático, e uma postura pró-ativa. Concluiu-se que, ao adotarem diferentes estratégias de Green Marketing, as empresas estudadas antecipam-se à futura e esperada alta demanda por produtos verdes por parte dos consumidores brasileiros e esperam, com isso, ganharem vantagem competitiva. O Green Marketing está, desse modo, incorporado ao planejamento estratégico em todos os casos estudados e a sua prática mostra-se crescente. A importância do presente estudo reside tanto na sistematização dos conhecimentos sobre Green Marketing quanto na verificação empírica das estratégias das empresas brasileiras.
- Published
- 2010
23. Disclosure via website corporativo: um exame de informações financeiras e de governança no mercado brasileiro
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Mendes-da-Silva, Wesley, Ferraz-Andrade, José Mauro, Famá, Rubens, and Maluf Filho, Jorge Arnaldo
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Internet ,relações com investidores ,Brazilian companies ,governança corporativa ,corporate governance ,Disclosure ,investor relations ,empresas brasileiras - Abstract
Este artigo objetiva analisar a relação entre a disseminação voluntária de informações relevantes nos websites de empresas abertas com suas características, tendo como amostra 282 empresas não financeiras listadas na Bovespa. Com base na relevância de informações corporativas (financeira e de governança) avaliadas pelos intermediários de informações, que embasaram a constituição de índices ponderados de disclosure, os resultados sugerem que há maior disclosure: i) quanto maior a firma e quanto maior o retorno das ações da empresa; ii) em empresas de governança corporativa diferenciada; iii) em categorias de informações corporativas mais requeridas pelas agências de ratinge pelas corretoras; iv) em empresas mais endividadas. The objective of this paper is to analyze the relationship between the voluntary disclosures of relevant information on the websites of a sample of 282 non-financial Bovespa-listed publicly-quoted companies. Based on the relevance of the corporate information (financial and governance) assessed by the information intermediaries and that provide the basis for constituting weighted disclosure indices the results suggest that there is more disclosure: i) the bigger the firm is and the bigger the return on company shares; ii) in companies that have a special type of corporate governance; iii) for those categories of corporate information that are more requested by the rating agencies and by stock brokers; iv) in companies with larger debts.
- Published
- 2009
24. Determinantes da estrutura de capital e da velocidade de ajuste em empresas brasileiras
- Author
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Mitushima, Alexandre Hiroshi, Nakamura, Wilson Toshiro, Martin, Diógenes Manoel Leiva, and Savoia, José Roberto Ferreira
- Subjects
painel dinâmico ,panel data ,estrutura de capital dinâmica ,painel de dados ,brazilian companies ,CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::ADMINISTRACAO DE EMPRESAS [CNPQ] ,dynamic capital structure ,dynamic panel data ,painel estático ,static panel data ,empresas brasileiras - Abstract
The study of capital structure is one of the main issues in Corporate Finance. Many researchers, in opposition to the propositions of Modigliani and Miller (1958), suggest that there is an optimal debt-equity ratio. Some authors say that the capital structure has a dynamic behavior and try to build models to identify the determinants of this dynamic capital structure. Some recent papers try to identify the variables that influence the speed of adjustment of capital structure. The objective of this research is to identify the determinants mentioned above in Brazilian companies, by analyzing the financial statements of companies listed in São Paulo Stock Exchange. The academic relevance of this study is to give an overview of the behavior of Brazilian companies regarding their optimal capital structure finding some information that can contribute to future researches. A estrutura de capital das empresas é um dos principais assuntos estudados em Finanças Corporativas. Ao contrário do que propuseram Modigliani e Miller, em 1958, vários autores afirmam que existe uma relação ótima entre capital próprio e capital de terceiros para as empresas. Alguns deles propõem, ainda, que a estrutura de capital é dinâmica, e procuram estabelecer um modelo para identificar quais os seus determinantes. Além disso, em alguns estudos mais recentes, os autores tentam encontrar os fatores que influenciam na velocidade com a qual as empresas se dirigem à estrutura ótima. O objetivo desta pesquisa é identificar tais fatores no mercado brasileiro, através de informações extraídas das demonstrações financeiras de empresas de capital aberto listadas na Bolsa de Valores de São Paulo (Bovespa). A relevância acadêmica consiste em proporcionar uma visão do comportamento das empresas brasileiras quanto à busca de uma estrutura ótima de capital, fornecendo algumas informações que poderão ser úteis para estudos posteriores acerca do assunto.
- Published
- 2009
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