Resumo em Inglês:

Abstract Prior literature has provided inconclusive evidence on the effects of family involvement in management (FIM) on family business (FB) performance. However, so far in the literature, there have been very few attempts to investigate FIM and family essence simultaneously as antecedents of FB performance. Therefore, we address this gap by studying how a stewardship-oriented culture (being a feature of FB essence) moderates the relationship between FIM and FB performance. We test our hypotheses with the Structural Equation Modeling technique using survey data in combination with archival data on a sample of 69 medium and large private Brazilian FBs. We find that a stewardship-oriented culture makes the relationship between a family CEO and FB performance weaker and observe that a stewardship has no moderating effect on the relationship between FIM and FB performance. These findings contradict prior literature on the beneficial role of stewardship in family-managed FB. Only in case of a nonfamily CEO, a stewardship-oriented culture positively moderates the relationship with FB performance. In addition, our study reveals a U-shaped nonlinear relationship between the level of FIM and FB performance, which is consistent with recent literature on the existence of faultlines derived from heterogeneous TMT and the impact on firm outcome.

Resumo em Inglês:

Abstract In view of the influence of corporate reputation on investors' choices and risk concerns, the purpose of this study was to explore the relationship between corporate reputation and bankruptcy risk in public firms. The investigation is a contribution to the burgeoning literature on corporate reputation associated with accounting, despite reputation being classified as an intangible asset capable of generating competitive advantage. Our sample included 4,578 observations (441 firms) covering the period 2005-2016. The overall score on the World's Most Admired Companies ranking was used as a proxy for reputation. Bankruptcy risk was quantified by Altman Z-scores (Zang, 2012) and accounting information for each year in the period was retrieved from the database Compustat Global. Our results reveal that corporate reputation has a negative influence on bankruptcy risk, reiterating the importance of risk management. When firms attract and strive to secure the favor of stakeholders, they increase risk for the same reason. However, this effect is counterbalanced by good reputation. Thus, corporate reputation is a valuable strategic resource with which managers can boost confidence among investors, increase the firm's credit worthiness and perpetuate the organization on the market. Furthermore, these results expand the literature on corporate reputation and risk of bankruptcy, and show signs that companies with high reputation have lower risk of bankruptcy and tend to honor their debts.

Resumo em Inglês:

Abstract Research on the concept of entrepreneurial universities has dedicated significant attention to understand how academic ecosystems shape the propensity of its members to establish new ventures. In this article we look at a prior step of the entrepreneurial event, i.e., how universities’ dynamics and initiatives related to entrepreneurship affect the proclivity of faculty to engage in entrepreneurship support. We propose and validate a conceptual model that directly relates the university ecosystem with faculty engagement, having entrepreneurial experience of faculty as a moderator and analyzing differences between public and private institutions. Data comprises information from 680 faculty members of over 70 higher education institutions from all regions of Brazil. Analyses were performed using Partial Least Squares Structural Equations Modeling. Results point to a strong positive relation between developed university ecosystems and the engagement of faculty with entrepreneurial activities, especially for individuals with stronger entrepreneurial experience. No differences were found between private and public institutions. From a practical standpoint, it is possible to identify more effective, innovative, and systematic ways to implement intrapreneurial practices in universities.

Resumo em Inglês:

Abstract Research on social entrepreneurship still lacks theoretical depth, as well as the analysis of the antecedents that lead to the emergence of social enterprises. Seeking to advance such discussion, this paper aims to analyze if and how the conceptual model for analysis of social entrepreneurship antecedents proposed by Jiao in 2011 is empirically supported. Thus, semi-structured interviews with ten Brazilian social entrepreneurs were conducted. From the results, the existence of a new antecedent not described in the conceptual model developed by Jiao was identified, and a framework for analysis of the antecedents that lead to the emergence of social enterprises is being proposed in this paper. The framework elaborated from cases present in an emerging economy that has several social problems also points to analytical inconsistencies in Jiao’s model. Besides allowing the theoretical advance about the initial stage of social enterprises formation, this paper also contributes presenting relations that help minimize the theoretical misunderstanding about the conceptualization of social entrepreneurship, generating a clarified definition. In addition, an agenda with directions for future research on social enterprises and social entrepreneurship is proposed.

Resumo em Inglês:

ABSTRACT Past research on product upgrades has focused either on understanding who and when will upgrade or on figuring out why consumers will upgrade, but seldom on all. It has also neglected the interplay between these matters with decision context and timing. This manuscript depicts a comprehensive approach where, for the first time, product characteristics, individual differences, process, and contextual variables are analyzed on a predictive model of real product upgrades, identified through the systematic collection of primary data from a panel of smartphone consumers. We tested one traditional linear logistic regression model and two types of non-linear, state-of-the-art machine-learning models (extreme gradient boosting and deep learning) to explain upgrading behavior. Results provide an integrative, yet parsimonious, product-upgrade model showing the importance of resources; news about the smartphone brand; sentimental value; predicted, current, and remembered enjoyment; update capacity; and how much the smartphone meets the user’s current needs as the most relevant variables to determine which consumers are more prone to upgrade their smartphones. Our findings advance upgrade decision theory by taking a holistic approach to the phenomenon and bridging different theoretical accounts of the replacement decision literature.