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Abstract Purpose This paper aims to show which factors influence the perception of human resources professionals about managers over 50 years old and which factors guide the age management practices adopted in the surveyed companies. Design/methodology/approach To this end, a survey was conducted with 140 companies accessed from a database of a human resources association. Through the answers obtained through the online questionnaire, an exploratory factor analysis was made with the aid of Software R. Findings Thus, it was possible to identify four factors that explain the work posture of professionals 50 years of age and older (company expectations, performance, morality and knowledge and professionalism) and three factors that guide the adoption of age management practices in organizations (recruitment & selection and integration, retention and continuity in the company, adaptation to the needs). Originality/value The results suggest that, even considering the high performance of older managers, perceived by HR professionals, the adoption of age management practices is still insufficient, making it difficult for these professionals to enter and remain in organizations. Moreover, it can be inferred that such posture indicates biases of discrimination and age stereotypes.

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Abstract Purpose The purpose of this paper is to analyze the relationship between entrepreneurial orientation (EO) and organizational performance through an updated and extended meta-analytic review that includes EO, mediators, moderators and performance results. Design/methodology/approach Using Pearson correlations as effect size statistics, and based on 80 independent samples from 78 studies, with a total sample size of 19,514 cases, the meta-analysis consolidates the empirical findings of this field of research. Findings The results reveal that there is a direct and positive impact of EO on organizational performance, and this effect is stronger for multi-item measures of performance and for revenue-based performance measures. In addition, the authors found partial mediation effects of learning orientation and innovativeness on the relationship between EO and firm performance. Originality/value The work contributes to the literature by demonstrating the importance of EO to organizational performance with a meta-analysis, reporting the partially mediating variables in this relationship and seeking to explain the observed inconsistencies in preceding results, also examining methodological moderating variables. Hence, the research extends previous meta-analytic studies done in the area.

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Abstract Purpose This paper aims to investigate the influence of a corporate global mindset and international experience on the internationalization process of Brazilian franchisors. The purpose is to study the role played by global mindset in the internationalization process of franchisors from an emerging country by answering the question: What is the impact of a global mindset on the level of internationalization? Design/methodology/approach A survey of 104 companies was conducted with franchise managers to compare Brazilian (domestic-only and internationalized) franchisors to foreign franchisors with operations in Brazil. The collected data were analyzed through descriptive statistics, ANOVA and regression analysis. Findings Results showed that the firm’s experience in international markets (measured as the number of years in foreign countries) has a positive relation to corporate global mindset. Developing a corporate global mindset should help Brazilian franchises to grow internationally. The findings indicate that Brazilian franchisors fall behind their foreign counterparts in international experience, which affect the skills, knowledge, disposition and organizational structure needed to be successful outside their home market. Practical implications Franchisors who decide to internationalize should carefully consider the need for developing a global mindset, especially in terms of investing in communication technologies, adequate human resources and an organizational structure to support international operations. Originality/value This research contributes to the international franchising literature by exploring the role of a global mindset in the context of franchises from an emerging market. Using a multidimensional concept of corporate global mindset, comprised of global orientation, global knowledge and global skills, this study adds an aspect of international franchising beyond institutional and economic explanations.

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Abstract Purpose After assessing papers on efficiency, most of the studies available are focused on the analysis of efficiency measures, without providing a deep discussion of the factors that determine efficiency. This study aims to evaluate the efficiency of Brazilian electricity distribution companies based on a structural model that enables the identification of a network of relationships among representative variables that contribute to efficiency. Design/methodology/approach Structural equation modeling was applied in a sample of 62 electricity distribution companies operating in Brazil, forming a balanced panel from 2010 to 2014. Then, the authors verified the model compliance according to the empirical evidence of the entities analyzed. This verification included a survey of the variables, which was supported by theoretical references related to the phenomenon studied. The data collected were statistically treated, and benchmarking models and multivariate techniques were used. Once the adjustments were made, the re-specified model was estimated using the maximum likelihood method. Findings The empirical model reached good adjustment rates. The analysis concluded that the constructs information system, structural system, management system and sociocultural system affect efficiency. Originality/value This study adds to several other papers, and this is one of its main contributions. Relationships among the constructs have been systematized according to literature in the form of a structural model, which will enable future researchers to have a reference frame of relevant studies and a research foundation in this area of knowledge. A third contribution is the model tested in a sample of Brazilian electricity distribution companies, whose results can be compared to other utility sectors (e.g. telecommunications) or to other countries' electrical sectors, thus providing an empirical basis for the proposed hypotheses. Finally, this study also offers a contribution to the Brazilian Electrical Energy Agency (Aneel, in Portuguese), a regulatory agency, providing mechanisms to guide tariff adjustments, seeking a balance between costs and the need for investments allied to tariff affordability.

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Abstract Purpose This study aims to examine the relationship of the Islamic work ethics, organizational commitment and job satisfaction of Muslim employees in the four Islamic commercial banks in Indonesia. Design/methodology/approach The study has adopted a quantitative method with descriptive and inferential statistical analysis. A stratified random sample of the executive management was taken, proportionate to the size of each organization. Out of a total of 250 distributed questionnaires, 220 respondents have responded. Frequencies and percentages were used to identify the characteristics of the respondents, while the preliminary data analysis of reliability and validity tests were used, along with the linear regression and the factor analysis of variance to answer the research question. Findings It found that the Islamic work ethics have a positive and significant relationship with organizational commitment and job satisfaction. Originality/value The sharia compliance requirement of Islamic banks is aligned with the Islamic work ethics’ principles and values, which thus could create in-depth organizational commitment among employees.

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Abstract Purpose This study aims to analyze how gender, research experience and geography are related to the researchers’ importance in the co-authorship network on management and accounting in Brazil. Design/methodology/approach A social network based on the co-authorship relationships in the papers published in leading Brazilian journals was examined using a logit model to estimate the probability of occupying prevailing positions. Findings The findings showed a network with a high level of fragmentation and a scarcity of authors serving as gatekeepers. Based on the number of directed links and collaboration with influential and well-connected authors, men were more likely to occupy central positions than women. Authors with higher academic degrees tended to establish more links but were more likely to distance from other authors. In terms of geography, authors from more- and less-favored regions may report similar propensity to occupy central positions. Practical implications Decision-makers should consider the importance of strengthening collaboration between different research groups and encourage female participation in broader collaborative networks. Research evaluation bodies should strengthen incentives regarding interinstitutional partnerships. Originality/value Studies on collaborative networks in management and accounting sciences are less common and generally focus on describing the networks. This paper combines social network analysis and econometric procedures to analyze the relationship between demographic and geographical aspects, and distinct network centrality indexes.

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Abstract Purpose The purpose of this study is to examine the effects of ownership structure on merger and acquisition (M&A) decisions of Brazilian listed companies. Design/methodology/approach This paper is an applied and explanatory research based on secondary data. The sample is comprises non-financial companies listed on the BM&FBovespa between 1998 and 2007. Considering that the dependent variable is binary, the authors estimate panel data logistic regression models. Considering the existence of conflicts of interest among those who have the decision-making power and the supplier of capital for M&A transactions, they draw upon the Agency Theory to develop the theoretical hypotheses. Findings The results show that, for a sample of Brazilian non-financial companies listed on the BM&FBovespa (B3), from 1998 to 2007, Brazilian firms present, on average, a highly concentrated ownership structure and the major controlling shareholders are families or the State. These characteristics are negatively related to the likelihood of M&A transactions, as most of these controlling shareholders are reluctant to adopt mechanisms that reduce their control. Research limitations/implications With regard to the limitations, this study considered only the M&A definitions as stated by the Bureau van Dijk database. In this sense, future studies may analyze the effects of ownership structure based on other M&A definitions and typologies. In addition, the study is limited to the period from 1998 to 2007, which is prior to the international financial crisis. Future studies may extend the analysis period to include the post-crisis period (2008) to check if there are differences in M&A strategies before and after the crisis. Practical implications From a managerial perspective, the results show that minority shareholders have little or no influence over an M&A decision, so they cannot decide on the use of resources for fast growth and access to new markets through M&A. Thus, the investment decision must take into account the nature and the quality of the controlling shareholder. Social implications This study shows a significant and negative effect of ownership concentration on the likelihood of M&A transactions. In part, this result demonstrates the importance of understanding the behavior of controlling shareholders before inferring on other key aspects that the M&A literature tends to make fundamental in explaining M&A decisions in publicly traded companies, particularly, in an environment of low minority shareholder protection. Originality/value Previous studies have partly found that the M&A decision is motivated by individual advantages obtained from increasing the size of the firm, or from managerial hubris. The results show that these hypotheses do not hold in the Brazilian context. Moreover, the results indicate that M&A decisions are associated with the characteristics of the controlling shareholder, their level of ownership concentration and their typology, contributing to the agency debate on whether the incentive or the entrenchment effect prevails in the context of the agency problem between controlling and minority shareholders, particularly, in an institutional environment of low shareholder protection.

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Abstract Purpose This study aims to analyze the media coverage of the impact of extreme weather events (EWE) and related risk management activities in Brazil. Design/methodology/approach Using a documentary analysis, the authors examined the media coverage of droughts and floods from 2003 to 2013 with concomitant official reports. Findings The results indicate that although media coverage conveys the direct impact of floods and droughts on society, it underemphasizes the importance of risk management activities. Moreover, the private sector rarely engages in risk management and mitigation activities, despite the documented supply chain disruptions. Research limitations/implications This study focuses solely on media coverage as provided by wide-circulation newspaper in Brazil and would benefit by being extended to all media platforms. Practical implications The results highlight the need for private sector involvement in risk management activities to facilitate the adaptation to climate change. Social implications The study reveals the deficiency of existing reports and lack of awareness regarding EWE. Originality/value The study contributes by focusing on climate awareness and how society can adapt to climate change, as well as how businesses can improve supply chain operations to facilitate smoother risk management.

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Abstract Purpose The purpose of this paper is to verify the relations of the board of directors with the code of business ethics (CBE) of Brazilian publicly traded companies. Design/methodology/approach As for the methodology, data were collected from companies that traded shares in Brasil, Bolsa e Balcão (B3) through the Comdinheiro database and codes of ethics or business conduct. For this, in relation to the dependent variable, indexes were elaborated to represent the CBE (CBEI). To represent the independent variables of the board of directors, the following variables were selected: size of board, gender of the president, independence, chairman/CEO, age and number of meetings. Findings With that said, the results show that the size of the board, the independence and the number of meetings explain the informative content of the CBE. Also, the accumulation of positions of president and CEO negatively influences CBEI, so the research suggests that non-accumulation of positions reduces agency conflicts, generating transparency of CBEI, according to Agency Theory. Research limitations/implications Considering the analysis of this research, it is important to highlight that the results should not be generalized because of the limitation of the sample period and because it was only for the Brazilian companies. However, they cannot be invalidated, given that, because of the robustness of the econometric models, it was possible to make inferences about the relations of the board of directors and the CBE of companies that trade in Brasil, Bolsa e Balcão (B3). Practical implications The relations identified in this study between the board of directors and the CBE imply the involvement of top executives, so that the CBE be closer to the characteristics of the business, while the values must be transmitted with clear language, avoiding misunderstandings and conflicts that may be used by individuals in bad faith, with the purpose of apologizing for illegal acts of company. Social implications The board’s characteristics seek to support corporate responsibilities, fulfilling a diversity of issues in the operational scenario, including influencing the information content of the CBE. Besides being an expression of the organizational culture, because it evidences the rules of behavior and values of the company. Originality/value The business ethics, which in this research is represented by the CBE, is a factor in which there is evidence in international studies that there are relations with the board of directors. In this context, the present study seeks to verify the relationship between the board of directors and the CBE of Brazilian publicly traded companies.