INFLUÊNCIA DA ESTRUTURA DE CAPITAL NO DESEMPENHO ECONÔMICO DE EMPRESAS FAMILIARES E NÃO FAMILIARES BRASILEIRAS

Zaluski, Felipe Cavalheiro; Hedlund, Patrique Rosa; Cordeiro, Marcelo de Moraes; Sausen, Jorge Oneide

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Articles • Rev. Adm. UFSM 15 (1) • 2022 • https://doi.org/10.5902/1983465964132 copiar

INFLUÊNCIA DA ESTRUTURA DE CAPITAL NO DESEMPENHO ECONÔMICO DE EMPRESAS FAMILIARES E NÃO FAMILIARES BRASILEIRAS

Autoria SCIMAGO INSTITUTIONS RANKINGS

RESUMO

Objetivo

O estudo tem como objetivo a proposição e validação de uma escala de mensuração da capacidade adaptativa em organizações.

Design / metodologia / abordagem

Para proposição das dimensões da escala levou-se em consideração o modelo de Stabler e Sydow (2002Stabler, U. & Sydow, J. (2002). Organizational adaptive capacity: a structuration perspective. Journal of Management Inquiry, 11, 408-424.) e para proposição dos indicadores de cada dimensão analisou-se estudos anteriores relacionados à temática com base em uma revisão sistemática em bases acadêmicas. Para validação quantitativa da escala adotou-se o e-survey em 122 organizações da região Noroeste Colonial do Estado do Rio Grande do Sul, utilizando a modelagem de equações estruturais (MEE) com o software SmartPLS 3.2.8.

Resultados

Os resultados do estudo demonstram a articulação dos indicadores de Estrutura Organizacional Flexível e Gestão Inovadora, Pluralidade e Multifuncionalidades das Equipes e Sistemas de Informações e Análise de Mercado resultam em escala em que vários aspectos relacionados à existência do desenvolvimento de capacidades adaptativas em organizações podem ser analisados.

Limitações / implicações da pesquisa

Destaca-se que a amostra considerada para as análises se baseia em uma região específica, portanto, seus resultados devem ser interpretados com cautela.

Implicações práticas

A escala contribui para instrumentar os gestores permitindo a identificação de pontos fracos, pertinentes às dimensões e aos indicadores, de maneira que os gestores possam nortear seus esforços.

Originalidade / valor

Este estudo se mostra proeminente, uma vez que, a sua mensuração e validação de uma escala fundamentada no desenvolvimento da capacidade adaptativa permitirá de tal maneira novos estudos e também novas comparações para o avanço da temática.

Palavras-Chave:
Capacidade Adaptativa; Escala; Capacidades Dinâmicas

(ADAPT.C) ADAPTIVE CAPACITY
Dimension		Indicator	Question	Evidence
(FOSIM) Flexible Organizational Structure and Innovative Management	AC1	Flexibility in the Organizational Structure	The Organization has a flexible organizational structure	Zhu, Su and Shou (2017Zhu, W., Su, S. & Shou, Z. (2017). Social ties and firm performance: The mediating effect of adaptive capability and supplier opportunism. Journal of Business Research , 78, 226-332.)
	AC2	Innovation in Organizational Management	The Organization has an innovative organizational management	Sussman (2016Sussman, C. Building adaptive capacity. (2004). Paper prepared for Management Consulting Service, Boston. Recuperado de http://wikiciv.org.rs/images/5/5d/Sussman_(2004)_Building_Adaptive_Capacity.pdf. http://wikiciv.org.rs/images/5/5d/Sussma... )
	AC3	Management Style Flexible to changes	The Organization has a flexible management style to change	Ali, Sum and Ali (2017Akgun, A. E., Kestin, H. E. & Byrne, J. (2007). Organizational intelligence: a structuration view. Journal of Organizational Change Management, 20, 272-289.)
	AC4	Adaptability to market changes	The Organization is able to adapt to market changes	Minucci (2016Minucci, G. (2016). Assessing adaptive capacity of water management organizations. The case study of the municipality of Tomave (Bolivia). Journal of Risk Research, 19(7), 847-872.)
	AC5	Use of New Technologies	The Organization seeks and uses new tchnologies	Chryssochoidis, Dousios and Tzokas (2016Chryssochoidis, G., Dousios, D. & Tzokas, N. (2016). Small Firm Adaptive Capability, Competitive Strategy, and Performance Outcomes: Competing Mediation vs. Moderation Perspectives. Briefings in Entrepreneurial Finance, 25(4), 441-446.)
	AC6	Shared and Participative Management Decisions	Management decisions are shared and participatory	Ali, Sum and Ali (2017Akgun, A. E., Kestin, H. E. & Byrne, J. (2007). Organizational intelligence: a structuration view. Journal of Organizational Change Management, 20, 272-289.)
	AC7	Fast and Assertive Decision Making	The Organization is able to make quick an asserive dicisions	Kaehler et al. (2014Kaehler, C., Busatto, F., Becker, G. V., Hansen, P. B. & Santos, J. L. S. (2014). Relationship between Adaptive Capability and Strategic Orientation: An Empirical Study in a Brazilian Company. iBusiness, 6, 1-9.)
(PMT) Plurality and Multifunctionality of the teams	AC8	Decision autonomy in teams	Decisions autonomy exists in the organization's teams	Ma, Yao and Xi (2009)
	AC9	Trust in teams and management	There is confidence in the organization's teams and management	Kaehler et al. (2014Kaehler, C., Busatto, F., Becker, G. V., Hansen, P. B. & Santos, J. L. S. (2014). Relationship between Adaptive Capability and Strategic Orientation: An Empirical Study in a Brazilian Company. iBusiness, 6, 1-9.)
	AC10	Efficient organizational information	There is an efficient organizational communication	Wei and Lau (2010Wei, Li-Qun & Lau, Chung-Ming. (2010). High performance work systems and performance: the role of adaptive capability. Human Relations, 63(10), 1487-1511.)
	AC11	Access to organizational information	Teams have access to organizational information	Minucci (2016Minucci, G. (2016). Assessing adaptive capacity of water management organizations. The case study of the municipality of Tomave (Bolivia). Journal of Risk Research, 19(7), 847-872.)
	AC12	Team resilience in the face of organizational change and adaptation	There is resilience in the teams in the face of organizational change and participation	Akgun, Keskin and Birke (2012Akgun, A. E., Kestin, H. E. & Byrne, J. (2007). Organizational intelligence: a structuration view. Journal of Organizational Change Management, 20, 272-289.)
	AC13	Proactivity in teams	There is proactivity in the organization's teams	Minucci (2016Minucci, G. (2016). Assessing adaptive capacity of water management organizations. The case study of the municipality of Tomave (Bolivia). Journal of Risk Research, 19(7), 847-872.)
	AC14	Configuration and Troubleshooting Organizational Problems	Teams are able to analyze and propose solutions to organizational problems	Ali, Sou and Ali (2017Akgun, A. E., Kestin, H. E. & Byrne, J. (2007). Organizational intelligence: a structuration view. Journal of Organizational Change Management, 20, 272-289.)
(ISMA) Information Systems and Market Analysis	AC15	Troubleshooting	The organization can quickly find problems that need adaptation and solution	Ali, Sou and Ali (2017Akgun, A. E., Kestin, H. E. & Byrne, J. (2007). Organizational intelligence: a structuration view. Journal of Organizational Change Management, 20, 272-289.)
	AC16	Monitoring Customer' Needs and Demands	The organization monitors customer's needs and demands	Minucci (2016Minucci, G. (2016). Assessing adaptive capacity of water management organizations. The case study of the municipality of Tomave (Bolivia). Journal of Risk Research, 19(7), 847-872.)
	AC17	Identification of Opportunities and Threats from Information Collected	The organization is able to identify opportunities and threats from the information collected	Wei and Lau (2010Wei, Li-Qun & Lau, Chung-Ming. (2010). High performance work systems and performance: the role of adaptive capability. Human Relations, 63(10), 1487-1511.)
	AC18	Interdepartmental Information Flow	There is an information flow between the sectors and departments of the organization	Ali, Sou and Ali (2017Akgun, A. E., Kestin, H. E. & Byrne, J. (2007). Organizational intelligence: a structuration view. Journal of Organizational Change Management, 20, 272-289.)
	AC19	Information Redundancy	The organization has excess and idle information that increases the choice in the face of market changes	Minucci (2016Minucci, G. (2016). Assessing adaptive capacity of water management organizations. The case study of the municipality of Tomave (Bolivia). Journal of Risk Research, 19(7), 847-872.)
	AC20	Management Information Systems	The organization has a management informations system for storing, accessind and analysing information	Ali, Sou and Ali (2017Akgun, A. E., Kestin, H. E. & Byrne, J. (2007). Organizational intelligence: a structuration view. Journal of Organizational Change Management, 20, 272-289.)
	AC21	Competition Monitoring	The organization monitors competition	Kaehler et al. (2014Kaehler, C., Busatto, F., Becker, G. V., Hansen, P. B. & Santos, J. L. S. (2014). Relationship between Adaptive Capability and Strategic Orientation: An Empirical Study in a Brazilian Company. iBusiness, 6, 1-9.)

Profile			Number	Percent
Respondents Profile	Function	Director	65	79,3%
		Administrative Manager	32	39,0%
		Administrator	15	18,3%
		Employee in leadership position	10	12,2%
	Organization Time	Up to 3 years	8	9,8%
		From 3 years to 5 years	13	15,9%
		From 5 years to 8 years	23	28,1%
		From 8 years to 10 years	49	59,8%
		More than 10 years	29	35,4%
Organizations Profile	Sector	Trade	59	72,0%
		services	42	51,2%
		Industry	21	25,6%
	Size	Large	36	43,9%
		:Midsize	51	62,2%
		Small Size	35	42,7%

	LOADINGS			AVE	CR	*Alpha*
	FOSIM	PMT	ISMA
AC1	0,8091			0,598	0,9121	0,8879
AC2	0,7696
AC3	0,7184
AC4	0,7122
AC5	0,7552
AC6	0,8033
AC7	0,8366
AC8		0,8416		0,5864	0,9083	0,8826
AC9		0,7625
AC10		0,7276
AC11		0,7434
AC12		0,7841
AC13		0,7519
AC14		0,7434
AC15			0,7240	0,6073	0,9152	0,8917
AC16			0,7593
AC17			0,7675
AC18			0,8547
AC19			0,7961
AC20			0,8064
AC21			0,7394

	FOSIM	PMT	ISMA
AC1	0,8091	0,6383	0,6338
AC2	0,7696	0,5004	0,4478
AC3	0,7184	0,3580	0,3527
AC4	0,7122	0,4415	0,5489
AC5	0,7552	0,3189	0,3420
AC6	0,8033	0,5882	0,6285
AC7	0,8366	0,5098	0,5755
AC8	0,5325	0,8416	0,6183
AC9	0,7336	0,7625	0,7134
AC10	0,4647	0,7276	0,5519
AC11	0,3249	0,7434	0,5226
AC12	0,4119	0,7841	0,5833
AC13	0,5247	0,7519	0,5049
AC14	0,3249	0,7434	0,5226
AC15	0,4363	0,5821	0,7240
AC16	0,6124	0,4933	0,7593
AC17	0,3709	0,5695	0,7675
AC18	0,4952	0,6812	0,8547
AC19	0,6613	0,5859	0,7961
AC20	0,6953	0,5323	0,8064
AC21	0,3347	0,6951	0,7394

	FOSIM	PMT	ISMA
FOSIM	0,7733
PMT	0,6363	0,7658
ISMA	0,6695	0,7575	0,7793

	Q²	f²
FOSIM	0,4244	0,5982
PMT	0,4652	0,5323
ISMA	0,4949	0,6174

Structural Relationship	Structural Coeficient	Standard Error	t-Student
ADAPT.C -> FOSIM	0,8585	0,0262	32,7329*
ADAPT.C -> PMT	0,8968	0,0163	55,0112*
ADAPT.C -> ISMA	0,9140	0,0161	56,7906*

Universidade Federal de Santa Maria Avenida Roraima nº 1000, Prédio 74C, Sala 4210 - Cidade Universitária - Centro de Ciências Sociais e Humanas (CCSH) - Universidade Federal de Santa Maria (UFSM), Cep: 97105-900, Tel: +55 (55) 3220-9242 - Santa Maria - RS - Brazil
E-mail: rea@ufsm.br

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[1] 1. Felipe Cavalheiro Zaluski Federal University of Santa Maria (UFSM). Santa Maria, Rio Grande do Sul, Brazil. PhD student in Administration from Federal University of Santa Maria (UFSM). E-mail: felipezaluski@hotmail.com http://orcid.org/0000-0003-0942-9180