Brazilian Business Review http://www.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="http://bbronline.com.br/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: <a title="ISSN" href="https://portal.issn.org/resource/ISSN/1807-734X" target="_blank" rel="noopener">1807-734X</a> (Portuguese)</p> <p> </p> en-US <p>© Brazilian Business Review</p> bbronline@bbronline.com.br (Júlia Cavalcante) bbronline@bbronline.com.br (Júlia Cavalcante) Mon, 05 Jul 2021 21:15:37 +0000 OJS 3.2.1.4 http://blogs.law.harvard.edu/tech/rss 60 Editorial http://www.bbronline.com.br/index.php/bbr/article/view/661 <p>Dear readers,</p> <p>We present to you the volume 18, nº 4 of 2021 of the Brazilian Business Review. Always focusing on the quality and diversity of the areas of knowledge, BBR proposes to contribute to the academic environment by bringing relevant research and discussions to the business area.</p> <p>Opening the issue, Souza and Silva, analyze the influence of political uncertainty, accounting elements and the macroeconomic environment on the (in)efficiency of securities traded by Brazilian public companies. Based on a sample of 275 non-financial companies between 2000 and 2019 with shares traded on B3, the authors find evidence that companies with higher profitability tend to increase efficiency; liquidity positively or negatively affects efficiency, depending on the sample selected and in periods when the basic interest rate is high, there is less efficiency in predicting securities. The results aim to contribute to the literature on adaptive markets by providing evidence on defining aspects of Brazilian securities’ efficiency variability. <u>https://bit.ly/3wX7Dv4</u></p> <p>Our second paper, by Main, and Silva, analyzes the probability of companies to perform mergers and acquisitions based on the characteristics of the CEO. Based on a sample of 794 CEOs of non-financial companies listed on B3 over the period 2000 to 2017, the authors find evidence that CEOs with finance background are less likely to perform mergers and acquisitions. The study results help to understand the effects of the manager's personal characteristics on decisions related to business combinations. <u>https://bit.ly/3iZj69Q</u></p> <p>Next, Eberle, da Cruz, and Milan, analyze whether brand awareness, brand credibility, perceived quality, and perceived innovation are determinants of the intention to purchase SUV cars. Then, quantitative research was carried out with a sample of 237 individuals. The authors find evidence that brand awareness positively impacts the car's perceived quality, brand credibility, perceived innovation, and purchase intent. Based on the results, car manufacturers can strategically plan the allocation of the budget for different brand activities, giving priority to the elements that most influence or exalt the benefits of the product or brand, in the purchase intention. <u>https://bit.ly/33QWQ97</u></p> <p>Our fourth paper, by Caldeira, Ferreira, Freitas, and Falcão, analyzes the influence of technology readiness on the acceptance of mobile payment services in Brazil. Based on a survey with 402 respondents, the authors find evidence that trust, usefulness, and perceived quality of mobile payment services directly influence mobile payment acceptance. The main contribution of the study lies in the proposition of an original model that advances knowledge about the individual's readiness to use technology. <u>https://bit.ly/2SQ00Io</u></p> <p>Following, Hoffmann, de Souza, Morrison, and Morrison analyze whether gender, religiosity, and homonegative attitudes are associated with evaluations of homoaffective advertisements, brand, and purchase intentions. Based on a sample of 456 university students, the authors find evidence that women have more positive attitudes towards homoaffective advertisements, brands, and purchase intention. Religiosity also interferes with the attitude towards the ads and the attitude towards the brand. The research has important managerial implications for marketers, who, by understanding the reactions of the Brazilian public, can more assertively execute their campaigns involving sexual minorities. <u>https://bit.ly/3w8xxvO</u></p> <p>Closing the issue, Bataglin, Semprebon, Carvalho, and Porsse, analyze the international scientific production on social innovation, in order to identify and cluster the variables of social innovation, through network analysis. The database used was Scopus, for the period ranging 2010 and 2020. The results demonstrate a network with four clusters: (i) social entrepreneurship, social value, and innovation; (ii) co-creation, technology, and sustainability; (iii) social innovation, organizational aspects, and business model; (iv) non-profit sector, strategy, and learning. As contributions, the study reveals perspectives to respond to different social problems faced by society, which can inspire public policies and social entrepreneurs. <u>https://bit.ly/3weof0O</u></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) 2021 Brazilian Business Review http://creativecommons.org/licenses/by/4.0 http://www.bbronline.com.br/index.php/bbr/article/view/661 Mon, 05 Jul 2021 00:00:00 +0000 Adaptability in the Brazilian Capital Market: Aspects Associated with Efficiency Reported by Companies Listed in B3 http://www.bbronline.com.br/index.php/bbr/article/view/656 <p>This article aims to verify the influence of political uncertainty, accounting elements, and the macroeconomic environment on the (in)efficiency of securities traded by Brazilian public companies. Between 2000 and 2019, we used 275 non-financial companies with shares traded in B3. We performed regression tests with panel data for two samples, one balanced and one unbalanced, totaling two models. For each model, we performed an additional analysis using the Stepwise method. The dependent variable comprises the inefficiency of daily stock data. The independent variables comprise political-economic uncertainty, the companies’ accounting indicators, gross domestic product per capita, and interest rate. We used controls related to the size, liquidity of the shares, and sectors of the companies. According to the selected sample, the results show that higher rentability companies tend to increase efficiency while liquidity positively or negatively affects efficiency. In periods where interest rates are high, there is less efficiency in predicting securities. These results aim to contribute to the literature on adaptive markets by providing evidence on defining aspects of Brazilian securities’ efficiency variability.</p> Paulo Vitor Souza de Souza, César Augusto Tibúrcio Silva Copyright (c) 2019 Brazilian Business Review http://creativecommons.org/licenses/by/4.0 http://www.bbronline.com.br/index.php/bbr/article/view/656 Mon, 05 Jul 2021 00:00:00 +0000 Relations between CEO characteristics and mergers and acquisition decisions in Brazilian companies http://www.bbronline.com.br/index.php/bbr/article/view/659 <p>This paper investigates the probability of companies to perform Mergers &amp; Acquisitions (M&amp;As) based on the characteristics of the CEO.. We use a sample of 794 CEOs of nonfinancial firms, which were listed on the B3 from 2000 to 2017. We adopt a descriptive approach and run logistic regressions to examine the probability of a company performing M&amp;As, given the characteristics of its CEO. We show that CEOs with finance backgrounds are less likely to perform M&amp;As. We find no statistically significant correlations for other CEO’s characteristics, such as executive tenure, age, education, participation as chair of the board, previous experience as an entrepreneur or being a shareholder of the acquiring company.</p> Kamilla Main, Vinicius Silva Copyright (c) 2021 http://creativecommons.org/licenses/by/4.0 http://www.bbronline.com.br/index.php/bbr/article/view/659 Mon, 05 Jul 2021 00:00:00 +0000 Purchase Intention of SUV Category Automobiles: Determinant Factors from the Customer Perspective http://www.bbronline.com.br/index.php/bbr/article/view/654 <p>The study aimed to verify the impact of brand awareness, brand credibility, perceived quality, and perceived innovation as determinants of the intention to purchase SUV automobiles. For this purpose, quantitative research was carried out by applying a survey, with a convenience sample composed of 237 customers intending to purchase SUVs. Multivariate statistics were used to analyze the data through the Structural Equation Modeling approach. The study’s main contributions confirm that brand awareness positively impacts the SUV’s perceived quality, brand credibility, perceived innovation, and purchase intention. Brand credibility directly affects the SUV’s perceived quality. Perceived innovation also influences the SUV’s perceived quality. However, perceived innovation did not positively impact the purchase intention.</p> Luciene Eberle, Luan da Cruz, Gabriel Milan Copyright (c) 2019 Brazilian Business Review http://creativecommons.org/licenses/by/4.0 http://www.bbronline.com.br/index.php/bbr/article/view/654 Mon, 05 Jul 2021 00:00:00 +0000 Adoption of Mobile Payments in Brazil: Technology Readiness, Trust and Perceived Quality http://www.bbronline.com.br/index.php/bbr/article/view/660 <p>This research investigates the influence of technology readiness on the<br>acceptance of mobile payment services in Brazil, a growing technology<br>within payment methods. The study analyses the relationship between<br>constructs widely used in the literature on technology acceptance - such as<br>perceived usefulness and perceived ease of use - and constructs related to<br>financial services, such as trust and perceived quality. It also evaluates how<br>technology readiness (Parasuraman, 2000) influences these constructs. The<br>authors conducted a survey with 402 participants to test the proposed model,<br>analyzing the data via structural equation modeling (SEM). The results<br>showed that trust, usefulness, and perceived quality of mobile payment<br>services directly influence mobile payment acceptance.</p> Tharcisio Alexandrino Caldeira, Jorge Ferreira, Angilberto Freitas, Roberto Falcão Copyright (c) 2021 http://creativecommons.org/licenses/by/4.0 http://www.bbronline.com.br/index.php/bbr/article/view/660 Mon, 05 Jul 2021 00:00:00 +0000 Beyond the rainbow: Attitudes of Brazilian consumers regarding homoaffective advertisements http://www.bbronline.com.br/index.php/bbr/article/view/657 <p>Although there is societal pressure to accept diversity, negative attitudes towards minority groups such as gay men and lesbian women, especially in Brazil, remain widespread. The objective of this study was to examine whether gender, religiosity, and homonegative attitudes are associated with evaluations of homoaffective advertisements, brand, and purchase intentions. A survey with 456 university students from southern Brazil was carried out. The results demonstrate that women have more positive attitudes towards homoaffective advertisements, brands, and purchase intention. Religiosity also interferes with the attitude towards the ads and the attitude towards the brand. When analyzing religiosity and homonegativity by gender in attitudes towards the advertisement, brand, and purchase intention, it is observed that, for men, religion does not interfere in the attitude towards the brand and in the purchase intention. Limitations of the current study, and directions for future research are outlined.&nbsp;</p> Estela Maria Hoffmann, Maria José Barbosa de Souza, Melanie Morrison, Todd Morrison Copyright (c) 2019 Brazilian Business Review http://creativecommons.org/licenses/by/4.0 http://www.bbronline.com.br/index.php/bbr/article/view/657 Mon, 05 Jul 2021 00:00:00 +0000 Social Innovation: A Study of International Scientific Publication through Network Analysis http://www.bbronline.com.br/index.php/bbr/article/view/653 <p>Research on social innovation has grown significantly in the last decade. The objective of this study is to map the international scientific production on social innovation, in order to identify and cluster the variables of social innovation, through network analysis. The database used was Scopus, for the period ranging between 2010 and 2020. Through the analysis of the keywords of the articles, 35 categories were grouped, having as a criterion nature and the conceptual similarity, through the Node XL Software. The results demonstrate a network with four clusters: (1) Social Entrepreneurship, Social Value, and Innovation; (2) Co-creation, Technology, and Sustainability; (3) Social Innovation, Organizational Aspects, and Business Model; and (4) the Non-profit Sector, Strategy, and Learning. The most cited categories, beyond social innovation, were social entrepreneurship and organizational aspects, whose focus of analysis takes place at the organizational level, i.e., resources and capabilities needed for the process of developing social innovation. Also, research gaps have been identified, as networks of actors, community, and social innovation ecosystems.</p> Jaiarys Bataglin, Elder Semprebon, Ana Carolina Carvalho, Melody Porsse Copyright (c) 2019 Brazilian Business Review http://creativecommons.org/licenses/by/4.0 http://www.bbronline.com.br/index.php/bbr/article/view/653 Mon, 05 Jul 2021 00:00:00 +0000