Scielo RSS <![CDATA[BAR - Brazilian Administration Review]]> http://www.scielo.br/rss.php?pid=1807-769220170003&lang=es vol. 14 num. 3 lang. es <![CDATA[SciELO Logo]]> http://www.scielo.br/img/en/fbpelogp.gif http://www.scielo.br <![CDATA[Editorial]]> http://www.scielo.br/scielo.php?script=sci_arttext&pid=S1807-76922017000300201&lng=es&nrm=iso&tlng=es <![CDATA[Identity in Family Firms: A Theoretical Analysis of Incentives and Contracts]]> http://www.scielo.br/scielo.php?script=sci_arttext&pid=S1807-76922017000300301&lng=es&nrm=iso&tlng=es Abstract We developed a principal-agent model that coherently and parsimoniously explains previous findings from research on executive compensation in family firms. We introduce organizational identification in the model in order to capture the effect of family firms' distinctive characteristics on the agent's behavior. After describing the optimal incentive contract under moral hazard, we show that the dispersion in the optimal wage profile decreases as the level of organizational identification of the agent increases. Moreover, we show that agency costs decrease as the level of organizational identification of the agent increases. Our results imply that hiring a strongly identified family manager will result in greater expected wealth to the principal and better risk sharing between the parties. We further analyze two interrelated factors that may drive changes in contract parameters: the degree of altruism in the family firm, and the level of collectivism of the society in which the firm is located. <![CDATA[Anomalies and Investor Sentiment: Empirical Evidences in the Brazilian Market]]> http://www.scielo.br/scielo.php?script=sci_arttext&pid=S1807-76922017000300302&lng=es&nrm=iso&tlng=es Abstract This study examined the relationship between investor sentiment and value anomalies in Brazil. In addition, it analyzed if pricing deviations caused by investors with optimistic views are different from those caused by pessimistic investors. The sample included all non-financial firms listed on the B3 (Brasil, Bolsa, Balc√£o) stock exchange from July 1999 to June 2014. We used the Principal Component Analysis multivariate technique to capture the component common to four different proxies for investor sentiment. The study empirically tested the index series and its variation on the return series of Long-Short portfolios of 12 anomaly-based strategies. The study found that the measure of the sentiment index had a partial explanatory power for the anomalies only when included in the CAPM. Yet, when using the index sentiment changes as an explanatory variable, the study found a relationship with future returns, robust to all risk factors. Thus, it is possible to relate investor sentiment index to anomaly-based portfolio returns. When analyzing average returns after optimistic and pessimistic periods, the values we found in our empirical test were not statistically significant enough to infer the possible existence of short-sale constraints. <![CDATA[Impacts of Interactive and Diagnostic Control System Use on the Innovation Process]]> http://www.scielo.br/scielo.php?script=sci_arttext&pid=S1807-76922017000300303&lng=es&nrm=iso&tlng=es Abstract This research explores the innovation process in organizations based on the Management Control System (MCS). We examined the link between the diagnostic and interactive uses of management control systems and their association with the intensity of the innovation process. Motivations for the research are: (a) enhance the potentiality of the model by including variables that are external to the organization, and (b) offer an empirical emergent country perspective on innovation. The study is quantitative and the data were collected by means of a survey questionnaire involving a sample of 121 Brazilian companies. The analysis was supported by structural equation modeling. The contributions are: (a) enhancement of the model by including the influences exerted by external stimuli on the intensity of innovation, (b) confirmation of the utility of the model in an emergent country, and (c) despite the controversial literature, highlighting the importance of the interactive use of the Management Control Systems process, by offering an empirical perspective on innovation control. A positive implication of the findings relates to the use of a broader and not exclusively internal model to increase its potentiality, reflecting the organizational reality by including the dynamism of external stimuli and the innovation control perspective. <![CDATA[The Influence of Organizational Reconciliation Policies and Culture on Workers Stress Perceptions]]> http://www.scielo.br/scielo.php?script=sci_arttext&pid=S1807-76922017000300304&lng=es&nrm=iso&tlng=es Abstract Work-family reconciliation plays a crucial role in the well-being of employees, having impacts at the individual, social and organizational level. Studies concluded that poor work-life balance as one of the ten predictors of psychosocial risks at work. A family-friendly culture relates to how an organization values and allows the articulation of the various spheres of its workers’ life. We intended to determine the effect of different variables like the existence of services, the organizational culture and the managers and colleagues support, on the stress experienced. A sample of 156 employees, from five organizations in the same region of Portugal, responded to a survey contributing to the empirical results of the study. We have conducted a structural equation model to test whether the factor solution of the perception of the reconciliation capability - STRESS model demonstrated a goodness of fit to the population studied. We’ve concluded that more important than the existence of reconciliation services, the perception of a supportive organizational culture, namely by colleagues and supervisors has great influence in reconciliation capability and by that way on work stress feelings. This might explain why workers do not use all the spectrum of resources provided by organizations and states to work-life reconciliation. <![CDATA[Career Profiles of Generation Y and Their Potential Influencers]]> http://www.scielo.br/scielo.php?script=sci_arttext&pid=S1807-76922017000300305&lng=es&nrm=iso&tlng=es Abstract This study aims to identify the predominant career profiles among Generation Y in Brazil and investigate the influence of demographic and professional characteristics in these profiles. Career profiles are defined as combinations of the presence of Boundaryless and Protean career attitudes. This study is descriptive, the sample is non-probabilistic and intentional and consists of 2,376 people. Cluster Analysis and Chi-square tests were used. The results show that people from Generation Y have a high presence of attitudes related to new careers and that these new careers are associated with high education and high income, mainly the Boundaryless career. However, there is a small portion of the sample that doesn’t present new career attitudes, indicating that this is just a movement and cannot be considered a reality for all studied subjects. <![CDATA[Unknown Unknowns in Innovative Projects: Early Signs Sensemaking]]> http://www.scielo.br/scielo.php?script=sci_arttext&pid=S1807-76922017000300306&lng=es&nrm=iso&tlng=es Abstract This study aims to understand early signs’ sensemaking relevance to identifying unknown unknowns on innovative projects. When managing these projects, early signs of changes in the environment, combined with a sensemaking process, can help identify them prior to their occurrence and mitigate unwanted effects of these uncertainties. To this end, we conducted a field research to assess 16 projects, totaling 35 events representative of this kind of uncertainty. Based on in-depth interviews, we performed an initial qualitative analysis, and then applied non-parametric statistical tests. Early signs perception in cases where external factors may cause the occurrence of unknown unknowns show that this perception and the search for information are relevant to identifying unk unks. Furthermore, some biases, such as overconfidence and unrealistic optimism, can hinder it. There was a high prevalence of project managers detecting early signs of change in their projects at the beginning of the project. However, the majority of perceived early signs can be considered to be the first symptoms of a problem. Thus, as a contribution, we suggest: learning processes, which can provide sensemaking for early signs in unknown unknowns; project managers stimulating their team to be alert to environmental changes that may affect the project; and discussion of early signs perceived by the team during stakeholder management.