Resumo em Inglês:

Abstract This research investigates managerial risk perception regarding internationalization of small and medium-sized enterprises in the Brazilian context. We examine how managers' perception of risk influences firms' degrees of internationalization. Likewise, we assessed how risk perception is influenced by managers' cognitive traits, such as tolerance for ambiguity and cognitive style. We provided empirical evidence for the relationships we proposed through a partial least squares structural equation model with data gathered from a survey of 149 SMEs from the State of Paraná, Brazil. Our results suggest that managers' tolerance for ambiguity is only significant for explaining risk perception for the managers with a preference for a deliberative style. Still, the research suggests that the Brazilian SMEs in our sample presented a higher degree of internationalization even when their managers perceived higher levels of risk.

Resumo em Inglês:

Abstract This article estimates association coefficients between measures of market sentiment and risk in the U.S., German and Chinese markets. In terms of risk, four measures were considered: standard deviation, value at risk, expected shortfall and shortfall deviation risk. For market sentiment, data was collected using the Psych Signal technology, which is based on the behavior of investors on social networks. The results indicate significant statistical associations, with the direction of association having financial meaning. Moreover, the empirical findings are valid for all risk measurements. The results are in keeping with the Prospect Theory, since in moments when the sentiment indicates low liquidity (a negative value for the difference between Bullish and Bearish Intensities) investors try to reduce the negotiation volume, which has a positive impact on risk. On the other hand, under the inverted scenario, when sentiment indicates high liquidity, there is an increase in the negotiation volume and a consequent decrease in risk. This article is important because its observations of market sentiment as measured by social media data show a consistent relationship with measures of financial risk.

Resumo em Inglês:

Abstract Although we know a lot about how brand meanings are created and perpetuated in relation to and through cultural discourses, remarkably little work has been done in the marketing field to develop a better comprehension as to how brand meanings are enacted through distancing behaviors, such as brand abandonment. In the marketing literature, abandonment has usually been associated with relationship crises, most commonly as the result of consumer dissatisfaction. This study investigates consumers who abandoned previously consumed brands in two distinct product categories, soft drinks and automobiles. Through investigation of two emblematic brands - Coca-Cola and Fiat - the analysis illustrates cultural discourses that consumers use to give meanings and socially negotiate their brand abandonment. Considering the repertoire of meanings attached to both the brands and consumers' commitment to their distancing behavior, the analysis presents three types of brand abandonment: (a) contingent, (b) balanced and (c) aversive. This paper also presents brand abandonment as an enabler of social distinctions, highlighting two discrete discourses promulgated and perpetuated by consumers: (a) Life evolution, and (b) Rationality, self-control and sovereignty.

Resumo em Inglês:

Abstract Previous literature has reported that pension funds sponsored by public organizations present greater administrative expenses when compared to similar pension funds sponsored by private organizations. We investigate this sponsor bias, hypothesizing that it may originate from the omission of relevant control variables, specifically variables for location of headquarters and the level of outsourced services. We test this hypothesis by linear regression in the cross-section of 164 Brazilian closed pension funds, using annual data from 2010 to 2014. We find that these control variables partly explain the sponsor bias, especially for medium-size pension funds, and when the sponsor is an organization related to a state or municipal government. We also hypothesize that political bias may increase administrative expenses of public sponsor pension funds, especially in election years. We test this hypothesis by panel regression using a fixed effects method and did not find statistically significant changes in administrative expenses in election years. Our findings do not support the hypothesis of political bias in administrative expenses of Brazilian closed pension funds. On the contrary, we present evidence that the sponsor bias may be driven by characteristics of the pension funds omitted in previous literature.

Resumo em Inglês:

Abstract Political, religious, sports and business leaders across the world have been under scrutiny regarding allegedly unethical behaviors. The current study analyzes the use of responsible leadership in management research. Using a sample of 64 articles published in SSCI-indexed journals over 10 years (2006-2016), we carried out a bibliometric analysis to understand the intellectual structure of the responsible leadership literature. The results of authorship, citation and co-citation, and factor analyses reveal the most prolific authors and the most notable journals writing and publishing on responsible leadership. The most cited works are theoretical, using Western frameworks and cultures, and focus on the concept of responsible leadership; only a few empirical/case study articles appear. Also, the most prevalent links are between theoretical works and highlight the conceptualization, understanding, and roles and parameters of responsible leaders. Six distinct factors emerge, denoting the groups of studies devoted to the evolution of leadership, transformational leadership, stakeholder theory and leadership, conceptualization and understanding of the topic, and roles of responsible leaders. These various research topics show the central tenets of responsible leadership, as well as the existing gaps in the existent literature.