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Rentabilidade em Bancos Múltiplos e Cooperativas de Crédito Brasileiros 多家银行和巴西信用合作社的盈利能力
Q4 Business, Management and Accounting Pub Date : 2017-04-01 DOI: 10.1590/1982-7849RAC2017150349
W. Bittencourt, V. G. F. Bressan, Clayton Peixoto Goulart, Aureliano Angel Bressan, Davi Costa, W. Lamounier
The financial system plays a crucial role in any economy. Factors such as strong regulation of the banking sector, measurement and evaluation in terms of performance and efficiency has been important for financial institutions. The long-term sustainability of cooperatives and banks demand the identification and comparison of variables that influence their profitability. The present study carried out an analysis of a panel of institutions between 2009 and 2013 with similar characteristics. The results indicate that the return on assets of these institutions was affected by loans, efficiency (measured using data envelopment analysis), total expenses, total deposits, other income and the Selic rate. However, return on equity was influenced by total deposits, loans, Selic rate, GDP, inflation, other income and total expenses. In the sample studied, the results indicated that there is no statistical difference if the financial institution is classified as a multiple bank or credit union, when considering ROE as a performance measure.
金融体系在任何经济体中都扮演着至关重要的角色。对银行部门的严格监管、业绩和效率方面的衡量和评价等因素对金融机构很重要。合作社和银行的长期可持续性要求确定和比较影响其盈利能力的变量。本研究对2009年至2013年间具有相似特征的一组机构进行了分析。结果表明,这些机构的资产收益率受到贷款、效率(使用数据包络分析测量)、总费用、总存款、其他收入和Selic利率的影响。然而,净资产收益率受到总存款、总贷款、总利率、GDP、通货膨胀、其他收入和总费用的影响。在所研究的样本中,结果表明,当将ROE作为绩效衡量标准时,如果金融机构被归类为多家银行或信用合作社,则没有统计学差异。
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引用次数: 10
A Escolha de Fundos de Ações e o Investidor Individual 股票基金和个人投资者的选择
Q4 Business, Management and Accounting Pub Date : 2017-04-01 DOI: 10.1590/1982-7849RAC2017160037
João Antônio Prata Júnior, Carlos Heitor Campani, R. P. Leal
This article proposes a scoring model for the selection of actively managed Brazilian stock funds with positive and significant Jensen's alpha. Two performance measures and eight fund characteristics were obtained between 2004 and 2014. The characteristics set is broad and was coded as binary variables. The sample consists of 1,417 funds and minimizes survivorship bias because it includes new and discontinued funds. The scoring was estimated through a binary logistic regression. Less than ten percent of stock funds displayed significant positive alphas. The model denotes past performance as the most important characteristic to select a stock fund with a significant positive alpha. Independent management, investment in other FIA funds and new or younger funds also relate to this selection. Out of sample tests indicate that high scoring stock funds frequently exhibit significant positive and rarely significant negative alphas. High scoring stock funds frequently beat equally weighed portfolios, especially as to risk adjusted returns. There are several indications that professional managers seek to limit volatility, even if it means sacrificing returns. These are important implications for individual investors.
本文提出了一个积极管理的巴西股票基金选择的评分模型,该模型具有正且显著的Jensen alpha。在2004 - 2014年间,获得了两个绩效指标和八个基金特征。特征集很广,被编码为二进制变量。该样本由1417个基金组成,并最小化生存偏差,因为它包括新的和已终止的基金。通过二元逻辑回归估计得分。只有不到10%的股票型基金表现出明显的正alpha值。该模型将过去业绩作为选择具有显著正alpha的股票基金的最重要特征。独立管理,投资于其他FIA基金和新的或较年轻的基金也与此选择有关。样本外检验表明,得分高的股票基金经常表现出显著的正α,而很少表现出显著的负α。得分高的股票型基金经常胜过同等权重的投资组合,尤其是在风险调整收益方面。有几个迹象表明,职业经理人试图限制波动性,即使这意味着牺牲回报。这对个人投资者来说意义重大。
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引用次数: 12
A Mediação da Ambidestria do Vendedor na Relação entre Estresse e Desempenho 卖方歧义在压力与绩效关系中的中介作用
Q4 Business, Management and Accounting Pub Date : 2017-03-01 DOI: 10.1590/1982-7849RAC2017150339
Valter Afonso Vieira, M. A. Rosa, V. Faia
In this paper we suggest that an employee's ambidexterity mediates the negative effect of job stress on sales performance. The traditional literature posits ambidexterity as mediator in the context of product development, strategic flexibility and dynamic nature of the environment. We extend the ambidexterity literature by positing it as a mediator in the relationship between stress and sales performance. A survey was developed with 307 frontline bank employees who sell products and services and manage client accounts in banks. The findings showed that the ability of the salespeople to balance provision activities with sales services activities improves ambidexterity, which in turn has a positive impact on performance. The results also showed that the negative effect of perception of role ambiguity about performance measurement (work satisfaction and sales) is mediated by a salesperson's ambidextrous behavior.
在本文中,我们认为员工的双重灵活性介导了工作压力对销售业绩的负面影响。传统文献认为,在产品开发、战略灵活性和环境动态性的背景下,二元性是中介。我们扩展了双元性文献,将其定位为压力和销售业绩之间关系的中介。对307名在银行销售产品和服务并管理客户账户的一线银行员工进行了调查。研究结果表明,销售人员平衡供应活动和销售服务活动的能力提高了二元性,这反过来又对绩效产生了积极影响。研究结果还表明,角色模糊感对绩效衡量(工作满意度和销售)的负面影响是由销售人员的双手灵巧行为介导的。
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引用次数: 5
Atuação do Líder na Gestão Estratégica de Pessoas: Reflexões, Lacunas e Oportunidades 领导在战略人员管理中的表现:反思、差距和机遇
Q4 Business, Management and Accounting Pub Date : 2017-02-01 DOI: 10.1590/1982-7849RAC2017150280
Eliane Maria Pires Giavina Bianchi, Alessandra Quishida, P. Foroni
Strategic people management is a widely studied topic, emphasizing the relationship between management policies and practices and other organizational variables. The managerial roles of organizational actors have been scarcely researched, making the implementation process of people management little explored. The study of human resources contributes to show a gap in the implementation process, as it addresses the role of professional consultants. This work aims to analyze the performance of leaders as a link in strategic people management through reflections suggested and guided by theoretical framework (strategic people management, leadership and the relations between those themes) and suggests an integration of theoretical models (leadership and people management) to support the evolution of research. The four leader orientations proposed by Yukl (2012), the organizational spaces defined by O'Reilly, Caldwell, Chatman, Lapiz and Self (2010), as well as Gratton and Truss' (2003) three-dimensional model and the people management roles Ulrich (1997) suggests may serve as a base to integrate the themes. Through this article, we intend to contribute by providing support for the development and deepening of empirical studies, as well as address the topic of implementation in strategic management of people.
战略人员管理是一个被广泛研究的话题,强调管理政策和实践与其他组织变量之间的关系。对组织行为者的管理角色的研究很少,这使得对人员管理的实施过程的探索很少。人力资源研究有助于显示执行过程中的差距,因为它涉及专业顾问的作用。这项工作旨在通过理论框架(战略人员管理,领导力和这些主题之间的关系)提出和指导的反思来分析领导者作为战略人员管理中的一个环节的绩效,并建议整合理论模型(领导力和人员管理)以支持研究的发展。Yukl(2012)提出的四种领导取向,O' reilly、Caldwell、Chatman、Lapiz和Self(2010)定义的组织空间,Gratton和Truss(2003)的三维模型,以及Ulrich(1997)提出的人员管理角色,都可以作为整合主题的基础。通过本文,我们打算为实证研究的发展和深化提供支持,并解决人力战略管理实施的主题。
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引用次数: 25
Indivíduo, Liderança e Cultura: Evidências de uma Gestão da Criatividade 个人、领导力和文化:创造力管理的证据
Q4 Business, Management and Accounting Pub Date : 2017-02-01 DOI: 10.1590/1982-7849RAC2017160039
Henrique Muzzio
The aim of this paper is to analyze the management practice of what is named here as creativity management, based on the individual in his/her group, the leadership process and culture. This management is based on the deliberation of leaders with actions arranged towards increasing collective creativity. The literature highlights the importance of creativity, seen as a manageable process able to enhance the act of innovating, in the consolidation of organizational innovation and emphasizes innovation's value in achieving competitive advantage. However, there are still gaps in the literature. Therefore, an exploratory and descriptive research was conducted through interviews with managers from the creative economy sector, from the perspective of content analysis. Informants interpreted economic activity based on creativity as needing new values and practices. Results showed management practices as creativity managements, with actions involving the individual, the leader and organizational culture. This paper's contributions to management practice is to offer knowledge capable of increasing competitive advantage and, in the academic field, provide new theoretical connections to advance the field of innovation.
本文的目的是分析在这里被称为创造力管理的管理实践,基于个人在他/她的团队,领导过程和文化。这种管理是基于领导的审议和行动安排,以提高集体创造力。文献强调了创造力的重要性,将其视为一个可管理的过程,能够增强创新行为,在组织创新的巩固中,并强调了创新在实现竞争优势方面的价值。然而,文献中仍有空白。因此,本文从内容分析的角度,通过对创意经济部门管理者的访谈,进行了探索性和描述性的研究。被调查者将以创造力为基础的经济活动解释为需要新的价值观和实践。结果表明,管理实践是创造性管理,其行动涉及个人、领导者和组织文化。本文对管理实践的贡献是提供能够增加竞争优势的知识,并在学术领域提供新的理论联系,以推进创新领域。
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引用次数: 20
Ação Econômica e Religião: Igrejas como Empreendimentos no Brasil 经济行动与宗教:作为巴西企业的教堂
Q4 Business, Management and Accounting Pub Date : 2017-01-01 DOI: 10.1590/1982-7849RAC2017150144
Victor Silva Corrêa, Gláucia Maria Vasconcelos Vale
Brazil has witnessed, in recent decades, radical transformations in its religious composition, with a great proliferation of evangelical churches, which compete with each other, adopting active and mobilizing positions, typical of productive enterprises. This paper analyzes some dimensions of this reality, in light of proposals from the Rational Choice of Religion approach, which is still little explored in Brazil. Thus, it makes clear to administration scholars, still absent from the area, the importance and scale of the observed phenomenon, and also the relevance of the new theoretical framework.
近几十年来,巴西的宗教构成发生了根本变化,福音派教会大量增加,它们相互竞争,采取积极和动员的立场,这是生产企业的典型特点。本文根据“宗教的理性选择”方法的建议,分析了这一现实的一些方面,这在巴西还很少被探索。因此,它向尚未涉足该领域的管理学者阐明了所观察到的现象的重要性和规模,以及新理论框架的相关性。
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引用次数: 8
Lending Groups and Different Social Capitals in Developed and Developing Countries 发达国家和发展中国家的贷款集团和不同的社会资本
Q4 Business, Management and Accounting Pub Date : 2016-12-01 DOI: 10.1590/1982-7849RAC2016150050
D. Marconatto, Luciano Barin-Cruz, E. Pedrozo
Lending groups (LGs) and social capital are two central elements to the many microfinance solutions operating around the world. However, LG effectiveness in reducing transaction costs and lending risks for microfinance institutions (MFIs) is mediated by institutional environments. Starting from this assumption, we discuss the existent interactions between the institutional environments of developed (Anglo-Saxon and communitarian) and developing countries with different stocks of social capital (individual, network and institutional) and the influences of this interaction on LG effectiveness. In order to do so, we applied the institutional perspective of O. Williamson to build a theoretical framework to examine the interaction of all these conditions, allowing for analysis of their main relations within the microfinance context. Based on this framework, we propose on the one hand that in developing and Anglo-Saxon developed nations, stocks of both individual and network social capital are the most important for an LG's effectiveness. However, in Anglo-Saxon countries, these two stocks of social capital are complemented by formal contracting devices. In communitarian developed countries, on the other hand, the stocks of institutional social capital have a stronger positive impact on LG dynamics.
贷款集团(LGs)和社会资本是世界各地许多小额信贷解决方案的两个核心要素。然而,LG在降低小额信贷机构(MFIs)的交易成本和贷款风险方面的有效性受到制度环境的调节。从这一假设出发,我们讨论了发达国家(盎格鲁-撒克逊和社群主义)和拥有不同社会资本存量(个人、网络和机构)的发展中国家的制度环境之间存在的相互作用,以及这种相互作用对LG有效性的影响。为了做到这一点,我们运用O. Williamson的制度视角来构建一个理论框架来检查所有这些条件的相互作用,允许在小额信贷背景下分析它们的主要关系。基于这一框架,我们一方面提出,在发展中国家和盎格鲁-撒克逊发达国家,个人和网络社会资本存量对LG的有效性最重要。然而,在盎格鲁-撒克逊国家,这两种社会资本是由正式的契约手段补充的。另一方面,在社群主义发达国家,制度社会资本存量对LG动态有更强的正向影响。
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引用次数: 4
The Impact of Evaluation Use on Accounting Programs' Performance: An Exploratory Study 评估使用对会计项目绩效的影响:一项探索性研究
Q4 Business, Management and Accounting Pub Date : 2016-12-01 DOI: 10.1590/1982-7849RAC2016150320
S. C. D. Freitas
The Brazilian program of higher education evaluation, broadly known as the National Exam of Students' Performance (ENADE), represents a governmental effort to gather information on undergraduate educational quality. As a product of that evaluation, reports are made available to each program evaluated. Our present research addresses the impact of ENADE evaluation report utilization on multiple higher education accounting programs' performance in their subsequent evaluation. Based upon theoretical support from literature about evaluation use, a web-based survey was developed and provided across the country to the coordinators of accounting programs. From a response rate of 62% of the study target population and using multiple regressions, we found that there was a positive correlation between usage of the ENADE evaluation report and the performance of undergraduate accounting programs in their subsequent evaluation. Based upon the reviewed literature and, in accordance with these research results, it is possible to infer that the use of evaluation reports derived from the higher education evaluation system promoted by the Brazilian government can influence the decisions of educational institutions and promote improvement.
巴西高等教育评估项目,被广泛称为全国学生表现考试(ENADE),代表了政府收集本科教育质量信息的努力。作为评估的结果,报告可以提供给每个评估过的项目。本研究探讨了ENADE评估报告的使用对多个高等教育会计专业在后续评估中的表现的影响。基于有关评估使用的文献的理论支持,开发了一项基于网络的调查,并在全国范围内提供给会计项目的协调员。从62%的研究目标人群的回复率和使用多元回归,我们发现在ENADE评估报告的使用和本科会计专业在后续评估中的表现之间存在正相关。根据回顾的文献和,根据这些研究结果,我们可以推断,使用巴西政府推动的高等教育评估体系衍生的评估报告可以影响教育机构的决策,促进改进。
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引用次数: 2
The Influence of Power and Individualism-Collectivism on Negotiation Initiation 权力与个人主义-集体主义对谈判启动的影响
Q4 Business, Management and Accounting Pub Date : 2016-11-01 DOI: 10.1590/1982-7849RAC2016150072
R. Volkema, I. Kapoutsis, Ana Carla Bon, José Ricardo Uchoa Cavalcanti Almeida
Negotiation is an essential business process, with the initiation of a negotiation likely to affect how the process unfolds. Despite the fact that opportunities are often lost when one or more parties fail to initiate, initiation has until recently been overlooked in negotiation process models and research. This paper reports findings from a study that examines the effects situational/contextual factors and culture have on the initiation process (engaging a prospective counterpart, making a request, and optimizing that request), focusing specifically on relative bargaining power (a situational factor) and individualism-collectivism. Higher bargaining power was found to increase the likelihood of initiation intentionality in general as well as the requesting and optimizing phases more specifically. In addition, individualism/collectivism was also found to affect initiation, with individualists more likely than collectivists to initiate a negotiation. Further, this effect was enhanced when individualists had high relative bargaining power. The theoretical and practical implications of these findings are discussed, with suggestions for future research.
谈判是一个重要的业务流程,谈判的启动可能会影响该流程的展开。尽管当一方或多方不主动时往往会失去机会,但直到最近,在谈判过程模型和研究中,主动一直被忽视。本文报告了一项研究的结果,该研究考察了情境/语境因素和文化对发起过程(吸引潜在对手、提出请求并优化该请求)的影响,特别关注相对议价能力(情境因素)和个人主义-集体主义。研究发现,较高的议价能力总体上增加了发起意向性的可能性,更具体地说,增加了请求和优化阶段的可能性。此外,个人主义/集体主义也被发现影响启动,个人主义者比集体主义者更有可能发起谈判。此外,当个人主义者具有较高的相对议价能力时,这种效应会增强。讨论了这些发现的理论和实践意义,并对未来的研究提出了建议。
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引用次数: 5
Fenomenografia e Valoração do Conhecimento nas Organizações: Diálogo entre Método e Fenômeno 组织中的现象学与知识评估:方法与现象的对话
Q4 Business, Management and Accounting Pub Date : 2016-10-01 DOI: 10.1590/1982-7849RAC2016150292
Andrea Cherman, Sandra Regina da Rocha-Pinto
Phenomenography is a little-known qualitative research methodology in organizational studies. It aims to capture the various conceptions individuals have about a phenomenon, that is, the different qualitative ways to experience and conceive of it (Marton, 1981; Marton & Booth, 1997; Sandberg, 2000). This theoretical paper aimed to shed light on the research experience using the method, explaining unexpected emergent findings not reported in the literature, via an empirical study with HR professionals on valuing knowledge in the context of work. The research revealed five conceptions, which were arranged in a logical, hierarchical, comprehensive, and interdependent manner, as stated by the method. Then, a focus group (Goldman & McDonald, 1987) with prototypical and representative participants of the categories was held in order to validate the descriptive categories and enhance understanding of the unexpected emergent findings. The serendipitous findings unveiled: (a) the capacity of phenomenography to capture subjects' two-way movement across conceptions in experiencing the phenomenon; (b) the uninterrupted continuum between the conceptions; and (c) the dynamic trajectory of individuals through conceptions in time and space, using them as modes of action to guide their behavior in relation to diverse contexts.
现象学是组织研究中一种鲜为人知的定性研究方法。它旨在捕捉个体对一种现象的各种概念,即体验和理解这种现象的不同定性方式(Marton, 1981;Marton & Booth, 1997;桑德伯格,2000)。这篇理论论文旨在阐明使用该方法的研究经验,通过对人力资源专业人员在工作背景下评估知识的实证研究,解释文献中未报道的意外发现。研究揭示了五个概念,这些概念按照逻辑、层次、综合和相互依存的方式排列。然后,举行了一个焦点小组(Goldman & McDonald, 1987),其中包括类别的原型和代表性参与者,以验证描述性类别并增强对意外突发发现的理解。这些偶然发现揭示了:(a)现象学捕捉被试在体验现象时跨概念的双向运动的能力;(b)概念之间的连续统一体;(c)个体通过时间和空间概念的动态轨迹,将其作为行动模式来指导他们在不同背景下的行为。
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引用次数: 3
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