Alliance Portfolio Effects on New Venture’s Performance

This study investigates the effects of an alliance portfolio on a new venture’s performance. Specifically, this paper draws on the legitimacy perspective. It presents a model that aims to understand the influence of an alliance portfolio’s different characteristics on a new venture’s performance. The paper also considers the contingent role of the equity market environment. These relationships are investigated in a cross-industry sample of 123 new ventures with pre-IPO alliances. The data has been compiled from various databases selected for their comprehensiveness and extensive use in Strategy research. Hierarchical Multiple Regression models are run to analyze the data. This study suggests that new ventures can potentially send important signals regarding their quality by virtue of their partnership formations. The most important characteristic of the alliance portfolio that affects the value of the new venture is size. Consistent with prior research, this study finds that new ventures with prestigious underwriters have higher valuations at IPO across all industries. The results also extend this line of inquiry by showing that relationships with prominent underwriters, VCs and alliance partners are not prestigious.

Organizational Culture as a Basis for Efficient Development of Organization

The article is devoted to the study of non-material assets of an organization development, particularly of organizational culture as a basis of effective development of an organization. The hypothesis lies in the fact that specific features study of organizational culture of a company provides possibility of objective evaluation of a degree of stability of organization, its ability for competition, allows to predict the important directions of management decisions, and a possibility of achievement of planned results. The tendencies concerning the transformations of contemporary management of organizations, which are realized in transferring of management influences from the management of technology of work to technology of management of human potential of a company, are revealed. The change of emphasis is due to objective reasons: due to the processes of globalization, state-of-the-art production technologies, including the latest information technologies, as well as the international labor market, humanization of industrial relations and human resource management technologies are becoming widely available. The article presents the results of an empirical study of certain aspects that determine the organizational culture. Promising directions, that have a significant potential for improving organizational culture, are identified.

Cultural Factors that Positively and Negatively Impact Corporate Governance: Cases of FamilyControlled Firms in Brazil

This exploratory study evaluated the relationship between Human Resources (HR) practices, organizational climate, and employee well-being from the lens of the Social Exchange Theory. Therefore, data were analyzed using linear regression and structural equations. The results indicated that there is a positive impact of HR practices on both the organizational climate and employee well-being, as well as the organizational climate on well-being. However, the explanatory power of well-being was low, indicating the need for more customized human resources management. Additionally, HR practices and organizational climate sensitize well-being to a greater extent among women than men, suggesting that women may be able to absorb better the benefits of a friendly and contributory work environment. The study contributes to knowledge in people management oriented towards the well-being of employees.

New GRFM Approach and Fuzzy LPMetric weighting score

Nowadays a thorough understanding of the business processes and the organization`s customers is the essential point to survive in the market competition. In this study, a new idea was applied to import customer purchased basket data into data mining computations. First, the products were divided into families, and we assigned a numerical code for each product in the family. The sum of these assigned numbers indicates the status of the basket. After this step, the transactions were clustered based on their basket values. Customers are then clustered in each cluster using the RFM method. Using a new fuzzy LP-metric approach and pairwise comparisons, RFM indices were weighted and we obtain customer value per cluster. Then we will proceed by averaging the customer value according to the presence of each customer in different clusters. Then we clustered customers based on customer lifetime value.

The Impact of Green Strategy on Organisations’ Relational Capital

The present study aims to explore the relationship between Green Strategy and Relational Capital. In doing so, it also investigates how green policies influence relational capital. The literature review refers to the significance of relational capital and its impact on strategic goals: organisational performance, organisational innovation and the social capital of the organisation. Examining the variables, green strategy and relational capital has also highlighted the factors that are influenced by green policies, including strengthening the negotiation capacity of the organisation, reinforcing knowledge diffusion and the development of a new corporate identity. Green practices that aim to improve the external conditions of the organisation are common characteristics and lead us to the following agents: Customers - Suppliers – Alliances – Corporate Reputation. Consequently, the categorisation of green practices refers to the relational capital’s components. The impact of green practices on relational capital is therefore indirectly proven due to the strong relationship between the factors and the components.

Financial Condition and Government Accounts: An Analysis in the Municipalities of the State of Rio de Janeiro (2009 to 2015)

This research sought to analyze whether the opinion of government accountability of the municipalities of Rio de Janeiro by the Court of Accounts of the State of Rio de Janeiro (TCE-RJ), in the period from 2009 to 2015, considers the financial condition of these municipalities. The financial condition was measured based on the methodology created by the Canadian Institute Chartered Accountants and adapted to the reality of the Brazilian institutional and regulatory environment. Factor analysis was used to select and group the determinants of municipal financial health and the logistic regression analysis to assess whether the result of the opinion of the municipal accounts by the TCE-RJ considered the municipal financial condition. The results were conclusive in relation to the analysis of the accountability of municipal government accounts considering the financial condition factor that deals with the collection, as well as the opinion of the TCE-RJ indicated that it is related to the technical analysis of external control. It was not possible to conclude whether there is political influence from the governor in issuing the prior opinion of the plenary.

The Effects of Corruption on Foreign Investments in Developed and Developing Countries

This paper aimed to identify which elements related to the corruption impact the Foreign Direct Investment (FDI) regarding developed and developing countries. In order to achieve this purpose, the member countries of the Economic Commission for Latin America and the Caribbean (ECLAC) and the Organisation for Economic Co-operation and Development (OECD) were analysed. It was a quantitative and descriptive survey, with a sample of 78 countries and secondary data from 2012 to 2017. The results were estimated by Logistic Regression and Multiple Linear Regression, with Random Effects (RA), chosen by the Breusch-Pagan (1980) and Hausman (1978) tests. It was suggested that the corruption does not impact the inflow of FDI; however, being a developed country, with positive Gross Domestic Product (GDP) growth rates, and institutional quality, have positive impacts on the inflow of the FDI. Moreover, it showed that it is possible to accept, with 95% confidence, the following statement, the more developed a country is, the smaller its Capital inflow of FDI.

The Relationship between the Technology Readiness Index (Tri) and the Quality of Digital Services of Brazilian Financial Institutions

This study aims to identify the technological readiness variables associated with the quality perceived by customers who use digital services offered by banking institutions operating in Brazil. Descriptive quantitative research, in cross-section, with a sample of 958 clients of financial institutions operating in Brazil. The data were analysed using Structural Equation Modelling and multigroup analysis using SmartPLS. Given the growth of Fintech driven by disruptive technologies, traditional banking segments are looking for a competitive advantage to retain their customers. The findings showed that optimism and innovativeness have a positive influence on perceived quality. In contrast, discomfort with functional and physical risk, discomfort with embarrassment, and insecurity with information have a negative influence on perceived quality. Insecurity due to lack of contact does not influence the quality perceived by customers. There are also no differences regarding the gender and income of customers and the type of bank with whom they have a relationship, only in the group between public and private banks in the relationship between innovativeness and perceived quality. However, the explanatory power of the model indicates that other factors also impact this relationship. Although Fintech is growing at an accelerated pace, traditional bank customers seek other factors that impact perceived quality. In this way, it shows that traditional banks can consider other organisational actions to retain customers in addition to disruptive technologies.

Circular Economy: Barriers and Levers Promoting Transformation (Case Study Analysis)

Innovative projects, connecting the circular economy with sustainable territorial development, promote multiple synergic effects, thus helping to dynamite the various aspects of sustainable development – economic, social, and ecological. In order for such projects to succeed, however, some conditions must be in place at the same time. The aim of this research is, based on some projects selected according to a set of criteria, to analyze the levers and barriers to developing new business models built on the circular economy principles. An exhaustive study of each of these projects and a comparative analysis allow us to derive some common features and develop a typology that makes it possible to identify and shed light on the new requirements, conditions, and factors for the successful realization of projects of similar type. Also, concrete recommendations are given concerning the necessary support from national and local public authorities. The study is based on primary and secondary sources and applies the causal approach, analysis, synthesis, and survey.

Tunneling and Tax Aggressiveness

In Brazil, there are no mechanisms to identify cases where controlling shareholders might be using tax aggressiveness as a strategy to expropriate value from minority shareholders, the practice known as tunneling. This deserves attention because investors should be able to understand when tax aggressiveness is not designed to generate the purported value. Hence, this study analyzes the relation between tax aggressiveness and tunneling in companies listed on the Brazilian securities exchange (B3), in the period from 2010 to 2017. The data were obtained from the Economática® database and were submitted to analysis by ordinary least squares in two stages. The results show that tax aggressiveness, measured by the differential effective tax rate (DETR), is statistically significant to explain tunneling since the coefficient of aggressiveness is significant and positive at 5%. Therefore, on average firms in the sample considered to be more aggressive (based on DETR) presented greater tunneling. The coefficient of the variable DETR allowed inferring that a 1% increase in tax aggressiveness is associated with an increase of 0.46% in the proportion of accounts receivable from related parties concerning assets. Thus, tax aggressiveness can reduce the probability of generating value for minority shareholders. This result agrees with the finding of Chan, Mo and Tang (2016), who identified direct evidence of the existence of tax aggressiveness related to tunneling.