Pub Date : 2016-04-01DOI: 10.1016/j.rege.2015.12.003
Ricardo Saraiva Frio , Vinícius Sittoni Brasil
Thanks to the growing debate about the service‐dominant logic in marketing, value co‐creation has become a central concept in academic debates, given its relevance to the logic proposed. In this study we sought to evaluate the consequences of the behavior of the consumer's co‐creation of value. Always focusing on the model of Yi and Gong (2013), which evaluates this behavior as a third order construct, two data collections were carried out. At first we attempted to validate the proposed scale in the Brazilian context. For the second collection we evaluated the consumer's co‐creation as a preceding variable of satisfaction and loyalty. In addition, it was found that the relationship time acts as a moderator of the relationship between second‐ and third‐order constructs. The results indicate that the value co‐creation predicts satisfaction and loyalty. The study helped to validate the first model of value co‐creation for the Brazilian context. Additionally, it showed how this behavior can result in positive consequences for clients. The results indicate that despite studying value creation differently from the way it has been done before service‐dominant logic, the way consumers perceive value remains unchanged.
{"title":"Comportamento de cocriação de valor do consumidor como antecedente da satisfação e lealdade","authors":"Ricardo Saraiva Frio , Vinícius Sittoni Brasil","doi":"10.1016/j.rege.2015.12.003","DOIUrl":"10.1016/j.rege.2015.12.003","url":null,"abstract":"<div><p>Thanks to the growing debate about the service‐dominant logic in marketing, value co‐creation has become a central concept in academic debates, given its relevance to the logic proposed. In this study we sought to evaluate the consequences of the behavior of the consumer's co‐creation of value. Always focusing on the model of Yi and Gong (2013), which evaluates this behavior as a third order construct, two data collections were carried out. At first we attempted to validate the proposed scale in the Brazilian context. For the second collection we evaluated the consumer's co‐creation as a preceding variable of satisfaction and loyalty. In addition, it was found that the relationship time acts as a moderator of the relationship between second‐ and third‐order constructs. The results indicate that the value co‐creation predicts satisfaction and loyalty. The study helped to validate the first model of value co‐creation for the Brazilian context. Additionally, it showed how this behavior can result in positive consequences for clients. The results indicate that despite studying value creation differently from the way it has been done before service‐dominant logic, the way consumers perceive value remains unchanged.</p></div>","PeriodicalId":43596,"journal":{"name":"REGE-Revista de Gestao","volume":"23 2","pages":"Pages 135-147"},"PeriodicalIF":1.2,"publicationDate":"2016-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.rege.2015.12.003","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130815280","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-01-01DOI: 10.1016/j.rege.2015.10.003
Fellipe André Jacomossi , Márcia Zanievicz da Silva
Quick and continuous changes in the organizations environment of organizations result in less time for managers to analyze and formulate appropriate strategies to new market trends. In addition, the risks and uncertainties involved in the decision‐making process forward environmental uncertainty has intensified. The objective of the research was to investigate how the perception of managers about the environmental uncertainty influences the use of Management Control Systems (MCS) in a Higher Education Institution (HEI). The research is characterized as qualitative, descriptive, where we carried out a case study in an HEI in southern Brazil. Through triangulation data, it attempted to obtain greater reliability of the information found, performing documentary analysis, interviews and confrontation of theoretical concepts with stories, circumstances, events and behaviors identified during the case study. The results show that, in the perception of managers, state uncertainty, effect uncertainty and response uncertainty, influencing the use of MCS, however, the features of each category of uncertainty cause different needs in the use of Management Control Techniques. Among the control techniques observed, eleven characterized as traditional and four as contemporary.
{"title":"Influência da incerteza ambiental na utilização de sistemas de controle gerencial em uma instituição de ensino superior","authors":"Fellipe André Jacomossi , Márcia Zanievicz da Silva","doi":"10.1016/j.rege.2015.10.003","DOIUrl":"10.1016/j.rege.2015.10.003","url":null,"abstract":"<div><p>Quick and continuous changes in the organizations environment of organizations result in less time for managers to analyze and formulate appropriate strategies to new market trends. In addition, the risks and uncertainties involved in the decision‐making process forward environmental uncertainty has intensified. The objective of the research was to investigate how the perception of managers about the environmental uncertainty influences the use of Management Control Systems (MCS) in a Higher Education Institution (HEI). The research is characterized as qualitative, descriptive, where we carried out a case study in an HEI in southern Brazil. Through triangulation data, it attempted to obtain greater reliability of the information found, performing documentary analysis, interviews and confrontation of theoretical concepts with stories, circumstances, events and behaviors identified during the case study. The results show that, in the perception of managers, state uncertainty, effect uncertainty and response uncertainty, influencing the use of MCS, however, the features of each category of uncertainty cause different needs in the use of Management Control Techniques. Among the control techniques observed, eleven characterized as traditional and four as contemporary.</p></div>","PeriodicalId":43596,"journal":{"name":"REGE-Revista de Gestao","volume":"23 1","pages":"Pages 75-85"},"PeriodicalIF":1.2,"publicationDate":"2016-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.rege.2015.10.003","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114655974","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-01-01DOI: 10.1016/j.rege.2015.11.001
Marcos Hideyuki Yokoyama
Business people are increasingly using social network sites (SNS) through corporate platforms or open websites such as Twitter, LinkedIn or Facebook. Because it is a recent phenomenon, the potentialities, benefits and risks of such tools have not yet been properly addressed inside organizations. SNS have been used by different members of society, including people of all ages and social classes. Human resource (HR) refers to the practices and policies adopted by companies to carry out the personnel aspects of the work, but some organizations are reluctant to permit SNS access within workplace boundaries. Currently, it is imperative to recognize SNS as an extension of people's social activities and, instead of restricting their use, companies should appreciate the benefits arisen from them. The objective of this essay is to discuss how HR activities are traditionally performed, the changes caused by the emergence of SNS and the new challenges. Thus, it may be useful for HR practitioners as it highlights how key HR activities are being affected by the emergence of SNS. Given the new challenges, HR professionals should use SNS as a complement of their activities, developing policies of use and monitoring the workforce online behavior.
{"title":"How social network sites (SNS) have changed the employer–employee relationship and what are the next challenges for human resource (HR)?","authors":"Marcos Hideyuki Yokoyama","doi":"10.1016/j.rege.2015.11.001","DOIUrl":"https://doi.org/10.1016/j.rege.2015.11.001","url":null,"abstract":"<div><p>Business people are increasingly using social network sites (SNS) through corporate platforms or open websites such as Twitter, LinkedIn or Facebook. Because it is a recent phenomenon, the potentialities, benefits and risks of such tools have not yet been properly addressed inside organizations. SNS have been used by different members of society, including people of all ages and social classes. Human resource (HR) refers to the practices and policies adopted by companies to carry out the personnel aspects of the work, but some organizations are reluctant to permit SNS access within workplace boundaries. Currently, it is imperative to recognize SNS as an extension of people's social activities and, instead of restricting their use, companies should appreciate the benefits arisen from them. The objective of this essay is to discuss how HR activities are traditionally performed, the changes caused by the emergence of SNS and the new challenges. Thus, it may be useful for HR practitioners as it highlights how key HR activities are being affected by the emergence of SNS. Given the new challenges, HR professionals should use SNS as a complement of their activities, developing policies of use and monitoring the workforce online behavior.</p></div>","PeriodicalId":43596,"journal":{"name":"REGE-Revista de Gestao","volume":"23 1","pages":"Pages 2-9"},"PeriodicalIF":1.2,"publicationDate":"2016-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.rege.2015.11.001","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"92084768","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-01-01DOI: 10.1016/j.rege.2015.10.001
Manoel Guedes Neto , Ilan Avrichir , Dirceu da Silva , Cléber da Costa Figueiredo
The main objective of the research described in this paper was to make freely available to researchers and management professionals a measurement instrument of intercultural skills (ISs), in Portuguese, validated according to the procedures recommended in the literature. ISs are CI knowledge, skills and motivations that enable individuals to adapt to multicultural environments. This research translated and adapted an English instrument to Portuguese using data from a survey of 268 Brazilian university students. The instrument was validated through a confirmatory factor analysis. The results showed that, with removal of impure items, both the instrument and the constructs are valid in the new context. The research contributes to the administration of academic institutions by making available an instrument of intercultural measurement and to theory, by verifying the validity of constructs in contexts different from those in which they had already been tested. ICs are particularly important for managers who increasingly find themselves involved in transactions that cross borders. The demand for ICs in managers explains why almost 1/4 of tertiary students seeking international exchanges programs are registered in business courses abroad. The importance of ICs for management and the frequency with which exchange students come from business courses makes this research particularly relevant to management theory and practice.
{"title":"Adaptação e validação de instrumento de medida de competências interculturais para estudantes universitários Brasileiros","authors":"Manoel Guedes Neto , Ilan Avrichir , Dirceu da Silva , Cléber da Costa Figueiredo","doi":"10.1016/j.rege.2015.10.001","DOIUrl":"10.1016/j.rege.2015.10.001","url":null,"abstract":"<div><p>The main objective of the research described in this paper was to make freely available to researchers and management professionals a measurement instrument of intercultural skills (ISs), in Portuguese, validated according to the procedures recommended in the literature. ISs are CI knowledge, skills and motivations that enable individuals to adapt to multicultural environments. This research translated and adapted an English instrument to Portuguese using data from a survey of 268 Brazilian university students. The instrument was validated through a confirmatory factor analysis. The results showed that, with removal of impure items, both the instrument and the constructs are valid in the new context. The research contributes to the administration of academic institutions by making available an instrument of intercultural measurement and to theory, by verifying the validity of constructs in contexts different from those in which they had already been tested. ICs are particularly important for managers who increasingly find themselves involved in transactions that cross borders. The demand for ICs in managers explains why almost 1/4 of tertiary students seeking international exchanges programs are registered in business courses abroad. The importance of ICs for management and the frequency with which exchange students come from business courses makes this research particularly relevant to management theory and practice.</p></div>","PeriodicalId":43596,"journal":{"name":"REGE-Revista de Gestao","volume":"23 1","pages":"Pages 20-30"},"PeriodicalIF":1.2,"publicationDate":"2016-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.rege.2015.10.001","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134537036","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-01-01DOI: 10.1016/j.rege.2015.10.002
Maria Martins Rebouças Nery , Anderson Soncini Pelissari
The aim of this paper is to verify how MSEs managers identify the work of graphic design on the performance of your company, evaluated from its Corporate Visual Identity (CVI). The applied research, of a qualitative nature, was developed from bibliographic research, semi‐structured interviews and documental research. The investigation used a multiple case study, through a literal replication, by making a comparative analysis of different cases. were analyzed seven (7) MSEs, from commerce and service sectors, located in the cities of Vitoria, Vila Velha, Serra and Cariacica, from the Espirito Santo state. The data collected in the interviews were analyzed using Content Analysis, based on the steps described by Bardin (1977) and Laville (1999). Thus, it was possible to prove that most of the managers of the investigated MSEs identifies that the IVC has great importance for your business, managing to understand their meaning, their role in the company and its positive contribution to performance, providing different kinds of benefits to the company. Furthermore, it was concluded that the better the design management operated by the MSE, better the results obtained in their performance and better the use of the benefits generated by the application of design by the company.
{"title":"Identidade visual corporativa: análise de sua relação com a performance da micro e pequena empresa","authors":"Maria Martins Rebouças Nery , Anderson Soncini Pelissari","doi":"10.1016/j.rege.2015.10.002","DOIUrl":"10.1016/j.rege.2015.10.002","url":null,"abstract":"<div><p>The aim of this paper is to verify how MSEs managers identify the work of graphic design on the performance of your company, evaluated from its Corporate Visual Identity (CVI). The applied research, of a qualitative nature, was developed from bibliographic research, semi‐structured interviews and documental research. The investigation used a multiple case study, through a literal replication, by making a comparative analysis of different cases. were analyzed seven (7) MSEs, from commerce and service sectors, located in the cities of Vitoria, Vila Velha, Serra and Cariacica, from the Espirito Santo state. The data collected in the interviews were analyzed using Content Analysis, based on the steps described by Bardin (1977) and Laville (1999). Thus, it was possible to prove that most of the managers of the investigated MSEs identifies that the IVC has great importance for your business, managing to understand their meaning, their role in the company and its positive contribution to performance, providing different kinds of benefits to the company. Furthermore, it was concluded that the better the design management operated by the MSE, better the results obtained in their performance and better the use of the benefits generated by the application of design by the company.</p></div>","PeriodicalId":43596,"journal":{"name":"REGE-Revista de Gestao","volume":"23 1","pages":"Pages 63-74"},"PeriodicalIF":1.2,"publicationDate":"2016-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.rege.2015.10.002","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116470757","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-01-01DOI: 10.1016/j.rege.2015.11.002
Lívia Almada, Renata Veloso Santos Policarpo
Mergers happen for firms differentiation and / or maintenance in the market and is used to change its structure, policies, practices, culture and the individuals status quo. It promotes individuals reactions to this change which can range from acceptance to resistance. The literature suggests that much of the failure of the merger is in the mismanagement. Therefore, leadership is an important part of this process because it guides the implementation of change and is part of the change management. The leadership style of the managers of change can affect the individuals reaction about the intended change. Based on published data, the most appropriate styles for the success of a merger, as shown by this study, are the transformational style and the authentic style. However is necessary to do empirical studies in different contexts to validate these findings.
{"title":"A relação entre o estilo de liderança e a resistência à mudança dos indivíduos em um processo de fusão","authors":"Lívia Almada, Renata Veloso Santos Policarpo","doi":"10.1016/j.rege.2015.11.002","DOIUrl":"https://doi.org/10.1016/j.rege.2015.11.002","url":null,"abstract":"<div><p>Mergers happen for firms differentiation and / or maintenance in the market and is used to change its structure, policies, practices, culture and the individuals status quo. It promotes individuals reactions to this change which can range from acceptance to resistance. The literature suggests that much of the failure of the merger is in the mismanagement. Therefore, leadership is an important part of this process because it guides the implementation of change and is part of the change management. The leadership style of the managers of change can affect the individuals reaction about the intended change. Based on published data, the most appropriate styles for the success of a merger, as shown by this study, are the transformational style and the authentic style. However is necessary to do empirical studies in different contexts to validate these findings.</p></div>","PeriodicalId":43596,"journal":{"name":"REGE-Revista de Gestao","volume":"23 1","pages":"Pages 10-19"},"PeriodicalIF":1.2,"publicationDate":"2016-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.rege.2015.11.002","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"92027708","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-01-01DOI: 10.1016/j.rege.2015.12.001
Fabiana Beal Pacheco , Amarolinda Zanela Klein , Rodrigo da Rosa Righi
A new generation of ubiquitous computing, also known as the Internet of Things (IoT), is an opportunity but also a challenge for companies in several industries. With IoT, the industrial products, including cars, phones, televisions, refrigerators, cameras and even books, may have built‐in digital capability, offering new features, performance rates and affordable prices that change design, production, distribution and use. The challenge for organizations is to innovate the existing business model so they can successfully enter this promising new technological context. This article reviews the literature of Information Systems and Strategic Management, exploring what are the components of a business model for products/services based on IoT; moreover, it seeks to identify the barriers and facilitators that can help companies to redefine their business models to take advantage of the opportunities of IoT. The method used for the construction of the article was the systematic and critical review of the literature. The results are the identification of elements to be considered in the development of business models for services and products based on IoT. They enable us to observe potential facilitators and barriers, so indicating topics for future research. In this way, this article seeks to provide a reference and insights for academics and professionals, into how to define structured business models for IoT, analyzing the main aspects that must be considered when the innovations for this digital context are planned.
{"title":"Modelos de negócio para produtos e serviços baseados em internet das coisas: uma revisão da literatura e oportunidades de pesquisas futuras","authors":"Fabiana Beal Pacheco , Amarolinda Zanela Klein , Rodrigo da Rosa Righi","doi":"10.1016/j.rege.2015.12.001","DOIUrl":"10.1016/j.rege.2015.12.001","url":null,"abstract":"<div><p>A new generation of ubiquitous computing, also known as the Internet of Things (IoT), is an opportunity but also a challenge for companies in several industries. With IoT, the industrial products, including cars, phones, televisions, refrigerators, cameras and even books, may have built‐in digital capability, offering new features, performance rates and affordable prices that change design, production, distribution and use. The challenge for organizations is to innovate the existing business model so they can successfully enter this promising new technological context. This article reviews the literature of Information Systems and Strategic Management, exploring what are the components of a business model for products/services based on IoT; moreover, it seeks to identify the barriers and facilitators that can help companies to redefine their business models to take advantage of the opportunities of IoT. The method used for the construction of the article was the systematic and critical review of the literature. The results are the identification of elements to be considered in the development of business models for services and products based on IoT. They enable us to observe potential facilitators and barriers, so indicating topics for future research. In this way, this article seeks to provide a reference and insights for academics and professionals, into how to define structured business models for IoT, analyzing the main aspects that must be considered when the innovations for this digital context are planned.</p></div>","PeriodicalId":43596,"journal":{"name":"REGE-Revista de Gestao","volume":"23 1","pages":"Pages 41-51"},"PeriodicalIF":1.2,"publicationDate":"2016-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.rege.2015.12.001","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128324080","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This research studied the phenomenon of survival of technology‐based companies (TBCs) post‐incubated, from the actions of the entrepreneur. It was tested and rejected the hypothesis according to which the actions of the entrepreneur, to mobilize and use resources, does not influence the survival of post‐incubated TBCs. The guiding theory of this study was the theory of resource‐based view. It was used the quantitative research approach, from the use of survey method. The survey was conducted from a list of 1025 Brazilian TBCs post‐incubated over 30 years of business incubation in Brazil, which resulted in a valid non‐probabilistic sample of 92 companies. The technique used for processing and analysis of data was the Structural Equation Modeling with estimation by partial least squares (PLS‐PM). The research findings have shown a relationship between resources and firm survival, confirming previous knowledge of the theory of resource‐based view. Additional findings revealed that the actions of entrepreneurs conducted to mobilize and appropriately use such resources were crucial to the survival of TBCs studied. Another contribution is that survival was explained from a set of actions taken and not necessarily from the isolated actions of mobilization and use of resources.
{"title":"Sobrevivência de empresas de base tecnológica pós‐incubadas: estudo sobre a ação empreendedora na mobilização e uso de recursos","authors":"Cleonir Tumelero , Silvio Aparecido dos Santos , Márcio Shoiti Kuniyoshi","doi":"10.1016/j.rege.2014.11.001","DOIUrl":"10.1016/j.rege.2014.11.001","url":null,"abstract":"<div><p>This research studied the phenomenon of survival of technology‐based companies (TBCs) post‐incubated, from the actions of the entrepreneur. It was tested and rejected the hypothesis according to which the actions of the entrepreneur, to mobilize and use resources, does not influence the survival of post‐incubated TBCs. The guiding theory of this study was the theory of resource‐based view. It was used the quantitative research approach, from the use of survey method. The survey was conducted from a list of 1025 Brazilian TBCs post‐incubated over 30 years of business incubation in Brazil, which resulted in a valid non‐probabilistic sample of 92 companies. The technique used for processing and analysis of data was the Structural Equation Modeling with estimation by partial least squares (PLS‐PM). The research findings have shown a relationship between resources and firm survival, confirming previous knowledge of the theory of resource‐based view. Additional findings revealed that the actions of entrepreneurs conducted to mobilize and appropriately use such resources were crucial to the survival of TBCs studied. Another contribution is that survival was explained from a set of actions taken and not necessarily from the isolated actions of mobilization and use of resources.</p></div>","PeriodicalId":43596,"journal":{"name":"REGE-Revista de Gestao","volume":"23 1","pages":"Pages 31-40"},"PeriodicalIF":1.2,"publicationDate":"2016-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.rege.2014.11.001","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126586288","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-01-01DOI: 10.1016/j.rege.2015.09.001
Tanira Lessa Malta, Marcos Antônio de Camargos
Despite the extensive theoretical and empirical evidence on the relationship between information and indicators extracted from the financial statements and the stock returns, there is still no consensus in national and international literature about what would be the metrics of stock returns prediction, useful to investors in planning investment strategies. This paper aims to identify variables of fundamental and dynamics analysis that explain stock returns of Brazilian companies listed on BM&FBovespa. Were analyzed quarterly panel data with fixed effects from the first quarter of 2007 (2007:1) to the fourth quarter of 2014 (2014:4), in a sample of 46 common shares and 21 preferred shares of non‐financial companies’ components IBrX100. We found eight variables with power of the stock return explanation, all the fundamental analysis: share of debt (PCT), gross margin (MB), return on assets (ROA), return on equities (ROE) e return on investment (ROI), negotiability index (INEG), profit per share (EPS) and market‐to‐book ratio (MBR). This paper contributes to the analysis of the role of economic and financial indicators for predicting stock return.
{"title":"Variáveis da análise fundamentalista e dinâmica e o retorno acionário de empresas brasileiras entre 2007 e 2014","authors":"Tanira Lessa Malta, Marcos Antônio de Camargos","doi":"10.1016/j.rege.2015.09.001","DOIUrl":"10.1016/j.rege.2015.09.001","url":null,"abstract":"<div><p>Despite the extensive theoretical and empirical evidence on the relationship between information and indicators extracted from the financial statements and the stock returns, there is still no consensus in national and international literature about what would be the metrics of stock returns prediction, useful to investors in planning investment strategies. This paper aims to identify variables of fundamental and dynamics analysis that explain stock returns of Brazilian companies listed on BM&FBovespa. Were analyzed quarterly panel data with fixed effects from the first quarter of 2007 (2007:1) to the fourth quarter of 2014 (2014:4), in a sample of 46 common shares and 21 preferred shares of non‐financial companies’ components IBrX100. We found eight variables with power of the stock return explanation, all the fundamental analysis: share of debt (PCT), gross margin (MB), return on assets (ROA), return on equities (ROE) e return on investment (ROI), negotiability index (INEG), profit per share (EPS) and market‐to‐book ratio (MBR). This paper contributes to the analysis of the role of economic and financial indicators for predicting stock return.</p></div>","PeriodicalId":43596,"journal":{"name":"REGE-Revista de Gestao","volume":"23 1","pages":"Pages 52-62"},"PeriodicalIF":1.2,"publicationDate":"2016-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.rege.2015.09.001","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132894741","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-01-01DOI: 10.1016/j.rege.2016.04.001
Adriana Marotti de Mello
{"title":"","authors":"Adriana Marotti de Mello","doi":"10.1016/j.rege.2016.04.001","DOIUrl":"https://doi.org/10.1016/j.rege.2016.04.001","url":null,"abstract":"","PeriodicalId":43596,"journal":{"name":"REGE-Revista de Gestao","volume":"23 1","pages":"Page 1"},"PeriodicalIF":1.2,"publicationDate":"2016-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.rege.2016.04.001","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136494700","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}