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Recent research has demonstrated that innovation is a factor that can add a competitive differential among small- and medium-sized enterprises. The literature presents several types of companies that have invested in the process of organizational innovation. Recently, one type of company that has drawn attention is called "graduated", that is, one that went through the incubation process and received support from an incubator. Research shows that graduated companies (GCs) have enough competencies to develop themselves in their market. This research analyzes the level of organizational innovation in nine GCs in an emerging economy, such as Brazil. To achieve the proposed objective, this study (i) identifies the profile of these companies; (ii) identifies the proposed innovation actions; (iii) applies the innovation radar and (iv) analyzes the dimensions proposed by the innovation radar. The results revealed that the GCs are occasional innovators, with an average of 3.60. Among the nine companies analyzed, seven presented averages above 3.0, considered as occasional innovators and the other two companies, with averages a little above 2.0, were analyzed as little or not at all innovative. GCs, in their majority, are innovative companies. From the theoretical perspective, the results highlight the possibility of improvements and the suggestion of new dimensions for the innovation radar. In the practical scenario, the participating GCs were able to reflect on themes and day-to-day situations that, for lack of time, or even planning, were not analyzed. [ABSTRACT FROM AUTHOR]

In this paper, we investigate the role of institutional investors on firm value in Brazil. Given this purpose, we construct a longitudinal dataset of Brazilian companies in which 2,019 distinct institutional investors from 47 countries had equity holdings from 2009 to 2018. In contrast with previous studies, panel data regressions indicate that foreign institutional ownership decreases corporate value, even when we mitigate for endogeneity concerns through the generalized method of moments estimator. Additionally, the negative effect of foreign institutional ownership on firm value is greater during times of high political uncertainty. Our findings suggest that foreign institutional investors may induce family-controlling shareholders to adopt short-term strategies that destroy company value, which is consistent with the "locust foreign capital" view. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to analyze the main challenges and critical success factors (CSFs) in managing multi-sided platforms (MSP) in Brazil, as well as to understand the differences between this management model and traditional companies. Design/methodology/approach: Semi-structured interviews were conducted with experienced professionals in the field, focusing on challenges, CSFs and difficulties in managing MSP businesses. The data were analyzed using a mixed-method approach, involving content analysis for qualitative data and grey relational analysis and sensitivity analysis for quantitative data. Findings: The experts identified eight CSFs, seven key differences between traditional businesses and MSPs, and five technology-related challenges in managing MSPs. They assessed the main difficulties reported in the literature and ranked them, with the most critical challenges being competition with companies adopting MSP models in the same sector (product/service niche) and the necessity for ongoing process adjustments to accommodate scalability. Originality/value: This study enhances understanding of CSF, disparities between traditional and MSPs and technology-related challenges in this management model. The results can assist managers in emerging nations in enhancing the performance of MSP operations and can be a resource for researchers studying various contexts and creating company guidelines. [ABSTRACT FROM AUTHOR]

Sustainability-oriented decision-making requires adequate information and dedicated information technology support. However, integrating economic, social and environmental information requires a new understanding of how data is collected and shared among stakeholders. Ensuring the quality of sustainable information will depend on capabilities to collect and analyze large-scale data. While the potential benefits of digital technologies and sustainability have been widely publicized in the cutting-edge literature, little is known about the analytical capabilities of big data and sustainable information. This study aims to examine the prominence of big data analytical capabilities for sustainable information quality in an emerging market, in this case, Brazil. A scalar-type questionnaire was used to collect primary data from Brazilian multinational companies. The results indicate that big data analytical capabilities are substantive for sustainable information quality. This study is original, fills a gap in the literature and makes significant contributions: (a) sheds light on the prominence of big data analytical capabilities for sustainable information quality (b) signals the relevance of intangible capabilities; (c) serves as a guide for managers in deciding on priority capabilities to improve the quality of sustainable information directed to stakeholders; (d) ex-tends existing studies on analytical capabilities of big data and sustainable information quality; (e) shows that big data analytical capabilities bring benefits to support sustainable information quality in emerging markets; and finally (f) this research contributes to the literature on sustainable information and digital trans-formation with emerging technologies. [ABSTRACT FROM AUTHOR]

The excess of data has led industries to develop their capabilities to exploit the value of data and gain competitive advantage. In this context, business analysis has become substantive for this purpose in several domains. Surprisingly, business analytics has been at the top of the corporate agenda. While the potential benefits of business analytics are widely highlighted in cutting-edge literature, little is known about the prominence of analytics capabilities for business resilience during and after the COVID 19 pandemic (new normal) in emerging markets. This study examines the relevance of business analytics capabilities to the resilience and economic performance of digitally-enabled and non-digitally enabled companies in an emerging economy. Using a questionnaire, primary data was collected from digitally enabled national and multinational companies in the Brazilian context. The results of this study suggest that analytical capabilities are substantive to the resilience of digitally enabled multinational companies, with an emphasis on tangible, human and operational capabilities. This study fills a gap in the literature and makes significant contributions: (i) it highlights the protagonism of business analytical capabilities in digitally enabled multinational companies, during and after the COVID 19 pandemic in an emerging economy; (ii) serves as a guide for managers when choosing capabilities; (iii) sheds light on non-digitally enabled national companies to achieve resilience in their businesses in times of crises such as the COVID 19 pandemic; and (iv) expands the literature on business analytical capabilities.. [ABSTRACT FROM AUTHOR]

This paper investigates whether political pressure affects the conduct of monetary policy in Brazil. For the period between January 2010 and August 2020, we estimate a modified Taylor rule to empirically test whether the calls for lower interest rates by presidents induce Central Bank of Brazil (BCB) to lower the policy rate. We document that BCB is more likely to set the policy rate in line with the preferences of political leaders. We also show that the response of BCB to political pressure remained significant even though political pressure diminished in recent years. [ABSTRACT FROM AUTHOR]

While the sales–marketing interface (SMI) research area is relatively nascent, scholars have provided a bevy of insights to this phenomenon. However, nearly all of these insights are predicated on data obtained from developed economies. To date, no research on this critical interface has been obtained in the key emerging markets of the world: the BRICS nations (Brasil, Russia, India, China, and South Africa). The purpose of this manuscript is to provide insight into the SMI in the emerging-market context of Brasil and compare and contrast these findings with those derived from other developed and emerging markets. A qualitative inquiry of 29 marketers and salespeople was conducted to reveal many insights into sales and marketing’s interactions in Brasilian organizations. Findings show how the SMI manifests in Brasil on group orientation and interaction, factors used to facilitate the SMI, and SMI power and strategy dynamics. Results show similarities, differences, and novel findings relative to existing knowledge on the SMI in developed and emerging economies and provide a base of understanding on this crucial interface in this key emerging market. [ABSTRACT FROM AUTHOR]

Purpose: This paper investigates if and how entrepreneurs' social capital influences their individual entrepreneurial orientation attributes (innovativeness, proactiveness, and risk-taking). Design/methodology/approach: The research method adopted is an exploratory multiple case study. The case chosen is that of an emerging and under-examined entrepreneur, the religious entrepreneur. The study investigates 20 pastors responsible for small enterprise-churches in Brazil. Findings: Social capital influences individual entrepreneurial orientation, being characterized by a relative paradox. The networks must be dense enough to stimulate entrepreneurs' individual entrepreneurial orientation but not be so dense as to harm innovativeness, proactivity and risk-taking. Further, data show that individual entrepreneurial orientation influences social capital. Research limitations/implications: One limitation relates to the semi-structured interviews' restricted use. A second limitation is associated with the recognition of churches only as productive enterprises. Practical implications: This article suggests the significance of incorporating both themes in entrepreneurial education and training programs. It also stresses the appropriateness of religious entrepreneurship as an empirical research field for business scholars. Originality/value: The contributions are fivefold. First, the authors build exploratory theoretical propositions on the influence of social capital on individual entrepreneurial orientation. Second, they highlight the significance of dense networks for individual entrepreneurial orientation, expanding the literature that supports the relevance of cohesive networks solely to the construct's organizational dimension. Third, the authors suggest that a relative paradox may characterize individual entrepreneurial orientation. Fourth, the authors suggest the existence of recursion between both constructs. Finally, this study is one of the first to examine social capital and individual entrepreneurial orientation, considering innovativeness, proactivity, and risk-taking, which represents a neglected field in benchmarking studies. [ABSTRACT FROM AUTHOR]

Due to its ability to create and disseminate knowledge, the modern university is understood as a central agent in innovation systems and technology upgrading dynamics. The main objective of this article is to assess the evolution of universities' embeddedness within the innovation system of an emerging economy in terms of patenting activity and linkages to industry. The study is based on information relating to the twelve most eminent universities in Brazil for the years 1994, 2004 and 2014. These institutions are found responsible for a substantial share of Brazilian patents – with an upward trend over the years - and these institutions have demonstrated a progressive embeddedness to the national innovation system. Such behavior seems to have co-evolved along with improvements in the national institutional environment, leading to expectations that academia can become strategic in shaping the catching-up conditions in Brazil for the coming years. However, deeper connections with both domestic and foreign agents and multinational corporations are needed in order to accelerate the pace of university contribution to value chains and technology upgrading. • The modern university is understood as a central agent in innovation systems and technology upgrading dynamics. • Top-universities in Brazil are found responsible for a substantial share of technological activity in the country. • There is a co-evolution between technological activity in Brazilian universities and changes in the institutions. • Expectations arise hat academia can become strategic in shaping the catching-up conditions in Brazil for the coming years. • Deeper connections with both domestic and foreign agents and multinational corporations are needed. [ABSTRACT FROM AUTHOR]

Climate change has intensified the demand for better social and environmental conservation efforts, motivating organisations to become more engaged in the development of sustainable technologies. This study analyses the innovation process in the production of green plastic, a process which replaces a non-renewable resource (naphtha) for a renewable one (ethanol from sugarcane), through the lens of sustainable supply-chain management (SSCM). An in-depth case study was conducted with a Brazilian petrochemical company, including interviews with agents of the supply chain. The results show that collaborations between the focal organisation and other agents of the supply chain are important for product development. The focal organisation has created many industry-wide initiatives, such as certification programmes and seal of quality/approval, to support the production of green plastic and reduce the social and environmental impact along the supply chain. [ABSTRACT FROM AUTHOR]

In this article, we examine how firms in an emerging economy perform research and development (R&D) activities in regards to the concept of open innovation. Most literature on open innovation shows multinational knowledge-intensive firms with wellestablished R&D processes mainly in developed countries. Searching for management contributions for firms in emerging economies, we qualitatively analyzed two chemical firms in Southern Brazil that have different profiles and are representative samples of typical firms in the region. Our results show that firms did not fully exploit the potential benefits brought by open innovation, even when complete opening was not the main goal. The firms were similar concerning interactions with partners and stages where relationships occur. The generation of ideas was an open activity performed both by firms and by clients, and interactions with universities were getting stronger. On the other hand, intellectual fproperty has not been used as means of profiting from innovation activities. Our main finding refers to the internal mediation of relationships with partners. R&D teams rarely contact external organizations directly; instead, they leave such interactions to other departments within their firms. Relationships with clients are mediated through technical and commercial departments, and interactions with suppliers are intermediated by the supply staff. [ABSTRACT FROM AUTHOR]

The obligations arising from legislation and other instruments affect the macro-level decision-making related to the transition toward a circular economy (CE), which is a multifaceted topic since it tries to aggregate the interests of different stakeholders. In this context, this paper aims to analyse the current policies, strategies and initiatives related to the CE transition from a multicriteria perspective and under the lens of NIT (New Institutional Theory). This is the first approach that analyses which CE strategies and related practices boost the transition from a macro-level perspective, using a multicriteria method and considering developed and emerging economies. For this reason, this paper can be helpful for researchers and practitioners involved in implementing strategy and policymaking aimed at the transition toward a CE. It also contributes to the discussion on the global transition to the CE by identifying differences and similarities between countries. The proposed methodology has been applied to compare the realities in Italy and Brazil. The perceptions of several stakeholders from the two countries have been gathered through a questionnaire to evaluate numerous strategies against several social, environmental, economic, and technical criteria. The main results are: Italy presents a proactive behaviour, a higher level of institutionalisation, and a coercive isomorphism related to European regulations and strategies. In contrast, Brazil has reactive behaviour, a lower level of institutionalisation, and is impelled by mimetic isomorphism. Although it is possible to observe several advances in the last years in Brazil, the transition to a CE is still in the early stages compared to Italy. [Display omitted] • Transitioning to a new economic model is not a quick and straightforward process. • Transition requires changes in countries, regions, cities, supply chains and companies. • Some strategies and related practices have been adopted to enable the transition. • National legislation and Action Plans can boost the transition toward a circular economy. • In developing countries, the exploration of CE concept and its potential benefits has been rare. [ABSTRACT FROM AUTHOR]

Prior research is not conclusive whether information asymmetries or managerial discretion are the cause of observed investment-cash flow sensitivity. This paper examines the effect of family firms' governance heterogeneity on firm's investment-cash flow sensitivity in Brazil. The Brazilian economic and corporate governance context present several idiosyncratic features, including weak minority shareholder protection, an underdeveloped capital market, macro-economic uncertainties, the presence of controlling shareholders (especially families), and the excessive use of control-enhancing mechanisms, allowing us to explore in greater detail the drivers of investment-cash flow sensitivity. We find that investment is more sensitive to cash flow for firms with a highly entrenched family presence (divergence between corporate control and voting rights coupled with family management) than in less entrenched family firms. This result emerges primarily due to financial constraints from asymmetric information, rather than agency problems of free cash flow from abuse of managerial discretion. Our findings shed new light on the role of excessive control rights in investment decisions, allowing family managers to reallocate capital to cope with financial constraints in times of economic uncertainties. • Family entrenched firms reduce the investment-cash flow sensitivity. • Entrenched owners are stewards in times of economic uncertainty. • Underinvestment due to information asymmetries seems to prevail. • There is no evidence of private benefits of control in family entrenched firms. [ABSTRACT FROM AUTHOR]

Emerging economies, e.g. India, China and Brazil etc., face challenges to adopt food safety (FS) practices in their food supply chains. Considering food industry's operations and processes, this study identifies 25 challenges to the FS initiatives involving the opinions of practitioners from six major Indian food producers and academic experts. The challenges are grouped into five categories, viz. organisational, government and policy, global, knowledge and financial. We identify the best and worst challenges to the FS initiatives along with causality among them using combined Best Worst Method (BWM) and 'Decision Making Trial and Evaluation Laboratory' (DEMATEL) approaches. BWM prioritises these challenges, while DEMATEL identifies causal relationship maps for the prioritised challenges. The BWM results demonstrate that the government and policy related challenges are the key challenges followed by the organisational, global, knowledge and financial related challenges. The DEMATEL results exhibit the organisational, government and policy, and global related challenges as the cause group challenges. The knowledge and financial related challenges represent the effect group challenges. Mitigation of these challenges inherently necessitates stakeholders' involvement in the food supply chains. We identify constructs for food safety initiatives policy in the emerging economies to raise public awareness while encouraging greater collaboration and efficiency in food supply chains to help achieve the second Sustainable Development Goal (SDG) for securing food for everyone. The results of the study offer guidance and deeper insights to supply chain managers about synergy requirements between the government policymakers and key players of the industry in the emerging economies. Image 1 • To meet demand for safe and secure food, food industries face several challenges. • The research identified 25 challenges relating to food safety. • BWM is applied to prioritise the challenges. • DEMATEL evaluates the challenges through causal and impact relationship maps. • This work assists business managers in meeting the goals of sustainable and healthy food. [ABSTRACT FROM AUTHOR]