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Abstract The research presented below examines micro-entrepreneur conditions that relate to their innovative self-concept and the effect of this self-concept on the perception of barriers to entrepreneurship and intention to invest in assets. For this, I analyzed 5,836 surveys completed by Chilean micro-entrepreneurs who declared maintaining productive activities in 2015. The results show that there is a difference in innovative self-concept, depending on the age, gender, marital status and educational level of the entrepreneurs. Moreover, this showed that entrepreneurs that self-define themselves as innovators intend to invest and perceive barriers to entrepreneurship in a different way. The obtained evidence is relevant for guiding public policies that strengthen investment and for reducing micro-entrepreneurs' perceived barriers according to their individual characteristics. Additionally, the results could be considered in other emerging Latin American countries, with similar conditions.Resumo em Inglês:
Abstract This article provides a theoretical effort to extend the literature on taste transformation and emphasize its shortcomings in explaining this process in social mobility contexts. Firstly, we conduct an overview of taste research in consumer behavior, followed by a presentation of the main concepts on taste transformation under debate in the literature of consumer culture theory and a discussion of the gaps in these frameworks. Secondly, we discuss how a context of social mobility could afford new directions for research on taste transformation. The Brazilian case is proposed as an illustration of this proposition due to its recent socioeconomic instability. Finally, we identify opportunities for future research by exploring (a) taste as a mechanism of distinction-across and (b) taste in inertial acquisition dynamics.Resumo em Inglês:
Abstract The purpose of this research is to investigate the effect of financial reporting quality, debt maturity, and CEO career concerns on investment efficiency in Indonesia. This study used a sample of 680 observations from non-financial companies in Indonesia during the period from 2012 to 2015 using panel regression. The results show that financial reporting quality does not affect investment efficiency. This might be because the quality of financial reporting has no effect in the overinvestment scenario. Under this condition, financial reporting quality cannot mitigate the occurrence of overinvestment due to the high level of agency problems. However, financial reporting quality has a significantly positive effect under condition of underinvestment, which means that financial reporting quality can reduce the occurrence of underinvestment because it can be used to attract external funds so that companies can avoid underinvestment conditions. The debt maturity has a negative effect on investment efficiency. In particular, debt maturity has no effect on underinvestment, but it does have an effect on overinvestment, because by using short-term debt, the company has funds that can be used to make investments to enable overinvestment. CEO career concerns have no effect in underinvestment conditions because companies do not experience funding constraints, so the CEO career concerns do not mitigate underinvestment. Whereas in conditions of overinvestment, career concerns have a positive effect. Thus, CEO career concerns can reduce the occurrence of overinvestment.Resumo em Inglês:
AbstractBy means of a distinguished approach of credit granting, microcredit programs stand out as a socioeconomic alternative for social insertion and fighting against poverty. In this context, a factor that has gained prominence in literature is the female participation in these programs. Therefore, knowing that the literature indicates that there is a lower level of default among women, and considering that gender influence over the financing value has been disproportionate, the aim of this research was to evaluate the relationship between gender and the amounts which were granted in microcredit operations. In order to achieve this, a multiple linear regression technique was used on a sample of 4,454 microcredit clients of a bank with branches located in Paraíba, Brazil. Primary data collection was carried out together with the branch managers by consulting their system. Data were randomly chosen, and refer to the period from January to December 2016. Results show that women obtain a higher credit value than men, which is the opposite of what was found in literature.Resumo em Inglês:
Abstract This research investigated the complementarity of internal and external R&D for innovation development and the effect of innovation on the financial performance of European manufacturing firms. Using multigroup structural equation modeling, this study partially supported that internal and external R&D are complementary in firms from high-technology industries, whereas they are not in firms from low-technology industries. For the two groups of firms, both internal and external R&D separately had a positive effect on innovation performance. These results suggested that if low-tech firms, which had lower absorptive capacity than high-tech firms, want to improve their innovation performance in the long term, they should start prioritizing internal R&D to improve their absorptive capacity while achieving a short-term satisfactory innovation outcome. As absorptive capacity rises, more complex strategies balancing internal and external R&D should be adopted. Contrary to expectations, the empirical analysis indicated that innovation performance did not influence short-term financial performance for the whole sample. However, in countries more affected by the 2008 crisis (for instance, Baltic countries, Portugal and Spain), this effect was detected, indicating that innovation helped firms to recover faster.