Revista de Administração Contemporânea

7

Authors: Marcelo de Souza Bispo

This editorial proposes how to build original theoretical contributions in a context that privileges practice over theory, where Anglo-Saxon theories dominate the scientific field of administration, and it is even unclear what “theory” means. The central idea is that the approximation between theory and practice only exists when the theory is constructed in the concrete world, i.e., where practice happens. This means that the uncritical adoption of theories to understand specific realities leads to the false impression that “in theory, practice is different.” My conclusion is that the original theoretical contribution must consider the multiple ways of life, culture, and the constituent elements of the social phenomena one wants to research. Added to this is the appreciation of indigenous knowledge (scientific or otherwise) on the reality where one aims to offer an original theoretical contribution.

17

Authors: Gustavo Guimarães Marchisotti, José Rodrigues Farias Filho

Context: there is a certain difficulty for students in understanding what steps need to be followed to guarantee that a chosen research problem is academically valid. There are also difficulties in executing, training, and passing on the methodological procedure. Objective: the present study aims to detail the operationalization of a method of identifying research problems, allowing the students to prove the unique and singular character of their research. Methods: it is a qualitative, interpretive, and applied research, which uses the action research method with the participatory intervention by one of the authors of this paper, in the definition and guidance on how to use a multi-method to identify a research problem. Results: the main contribution of this research is to describe, with examples for each stage, a step-by-step procedure explaining how to perform a multi-method to identify a research problem that helps students operationalize it correctly and systematically. Conclusion: following the guidelines proposed in this paper, students are able to bring up real problems from both academic and managerial perspectives, as the method will be executed properly. It also allows teachers to better train their students about how to properly use the multi-method detailed in this paper.

17

Authors: Pablo Rogers

Context: exploratory factor analysis (EFA) is one of the statistical methods most widely used in administration; however, its current practice coexists with rules of thumb and heuristics given half a century ago. Objective: the purpose of this article is to present the best practices and recent recommendations for a typical EFA in administration through a practical solution accessible to researchers. Methods: in this sense, in addition to discussing current practices versus recommended practices, a tutorial with real data on Factor is illustrated. The Factor software is still little known in the administration area, but is freeware, easy-to-use (point and click), and powerful. The step-by-step tutorial illustrated in the article, in addition to the discussions raised and an additional example, is also available in the format of tutorial videos. Conclusion: through the proposed didactic methodology (article-tutorial + video-tutorial), we encourage researchers/methodologists who have mastered a particular technique to do the same. Specifically about EFA, we hope that the presentation of the Factor software, as a first solution, can transcend the current outdated rules of thumb and heuristics, by making best practices accessible to administration researchers.

18

Authors: Cristiane Benetti, Paulo Renato Soares Terra, Roberto Frota Decourt

Objective: this article replicates in Brazil a survey — previously applied in North America and Europe — to inquire CFOs about the cost of capital, capital budgeting, and capital structure. Method: we rigorously translated and validated the questionnaire before administering it over the internet. We delivered the questionnaire to 1,699 Brazilian private and public firms and received 160 responses, with a return rate of 9.4%. We analyzed the responses conditioned to firm characteristics. Results: the results of the financial policy survey in Brazil indicate that firms employ NPV and IRR as preferred investment techniques and the CAPM and its variations as the method for computing the cost of equity capital. They are also concerned with the cost of debt and transaction costs of market instruments, and they use internal funds as their main investment funding source. The conditional analysis indicates that large, listed, and regulated firms behave differently regarding financial decisions than their counterparts. Conclusion: the main takeaway from this study is that the institutional environment (markets, institutions, instruments, and the economy) is an important determinant of the practice of corporate finance.

25

Authors: Luis Henrique Rigato Vasconcellos, Mauro Sampaio, Henrique Fonseca

Context: there is little empirical evidence of the relationship between the implementation of lean techniques (such as the pull system) and their real effect on supply chain performance. Objective: the purpose of this paper is to describe the process of implementing the pull production logic in the supply chain, reporting the historical evolution of indicators, such as inventory levels and lead times over 23 months of intervention. Methods: an action research project was carried out describing chain intervention steps in 2017-2019, divided into phases as follows: planning, data collection, implementation of the action, analysis and evaluation of the results. Results: the main contribution was to demonstrate that the production shift from push to pull had a positive impact on lead time, inventory, and planning routines indicators. Inventory levels were reduced by more than 30% and lead times were down approximately 40%. In addition, sales forecast assertiveness increased. Conclusion: this paper may provide a reference for organizations that want to make similar changes in their supply chains and significantly change the planning routine of their suppliers and distributors by implementing the pull logic.

e220098

Authors: Cristiana Cerqueira Leal, Ines Branco-Illodo, Benilde Maria do Nascimento Oliveira, Luisa Esteban-Salvador

The architecture of choice is present in everyday life, and the ways in which decisions are made have become increasingly complex. This special issue responds to the need to explore the complexities of nudging and choice architecture in the current environment. Decisions can be decomposed into a diverse and intricate process of decision-making. Individuals are required to navigate in successive frames of choice and optimize their decisions, while facing limitations of time, information, and brainpower to process options of choice and come out with a decision. For instance, we make over 200 food-related decisions a day. Some of these decisions are deliberate and thoughtful, but the vast majority is made through a very short conscious period of liberation, automatically, using rules of thumb or as a habit. In fact, 45% of daily behaviors are out of habit and tend to be repeated in similar contexts. Habits are shortcuts that do not guarantee the best decision every time, but that may work quite well for triggering a fast response, which means that either good or bad habits tend to be repeated. Cumulative choices have consequences, and they interact and influence subsequent decisions that tend to be repeated over time.

e200421

Authors: Pedro Brandão Graminha, Luís Eduardo Afonso

Objective: this paper analyzes how framing, anchoring, and certainty effects may affect the behavior of the consumer of auto insurance. Methods: an experiment was carried out, with the face-to-face application of six versions of a questionnaire with 14 questions, for 163 respondents from an educational institution. Questions were prepared to analyze the existence of the framing effect, the anchoring effect, and the certainty effect, in addition to the deductible effect (present in several insurance products). The theoretical framework of the paper is the behavioral economics. Results: younger people, singles, and men are more prone to risk. Although the findings in general corroborate the evidence in the literature, the results of the certainty effect were contrary to expectations. The payment of the deductible increased the respondents’ risk aversion. Conclusions: the existence of biases and heuristics can cause the purchase of insurance to occur in a non-optimal way. Knowledge of the decision-making process is important for insurers and consumers. It is also relevant for regulators, in order to subsidize measures aimed at market efficiency and consumer protection, through the design of an appropriate choice architecture.

e210033

Authors: Ana Luize Correa, Maria Clara Figueiredo Dalla Costa Ames, Marcello Beckert Zappellini

Objective: the aim of this study is to discuss nudges in the SARS-CoV-2 pandemic context, bringing back some reflections on ethics and revising them in the light of the new setting imposed by the pandemic. Theoretical approach: the theoretical framework of Behavioral Economics was the basis for nudges’ analysis, while utilitarianism, deontology, and virtue ethics were the classic moral theories used to reflect on ethical aspects. Methods: we undertook a literature review about nudges searched through the latest studies about this subject applied to COVID-19 mitigation. In the ethical discussion section, we used classical references to articulate the nudge theory with the following moral theories: utilitarianism, deontology, and virtue ethics. Results: our findings indicate that the trend intervention during the pandemic is ‘nudging messages’ and ‘increase people’s commitment,’ mainly to nudge people toward the desired behavior and increase policy adherence. Many experiments did not show significant results, and some drawbacks in policies’ applications indicate that nudges might be revised in crisis scenarios, such as a pandemic outbreak. The ethical discussion section relates three moral theories that justify some of the nudge’s aspects. Conclusions: this paper showed some flaws and inconsistencies in nudge theory and its application during the pandemic that can be solved by discussing ethical aspects. We suggest that connecting these problems with moral views might be a solution for some deadlocks found in the nudge theory.

e210333

Authors: Evelyn Lanka, Ali Rostron, Pallavi Singh, Sanjay Lanka

In the editorial for our special issue call, we outlined our perspective of qualitative research and the need to address the teaching of qualitative methods to help foster more rigorous application of qualitative research in contemporary administration and management studies. Our call for tutorial papers in RAC (Revista de Administração Contemporânea) was the mechanism through which we aimed to promote awareness, understanding, and learning of how to properly and effectively apply qualitative research methods for administration and management researchers. This current editorial aims to position our special issues as well as present our thoughts on important and pressing issues related to qualitative research in contemporary administration and management studies. We believe these issues are critical to the future of qualitative research in our field. We will also present the papers that were accepted to the special issue and outline how each one promotes understanding of qualitative research methods.

e210015

Authors: Newton Claizoni Moreno de Melo, Débora Coutinho Paschoal Dourado

Objective: in this paper, we problematize how online methods were reduced to mere adaptations from previous data collection techniques, and then discuss how some of the idiosyncratic properties of the online scope may drive the development of future, paradigmatic, online qualitative methods. Proposition: we identified five clues for the paradigmatic development of online qualitative methods: (1) the new socialities allowed by online interactions; (2) the processes involved in asserting identities and selves online; (3) the increasing difficulty in distinguishing what is private and what is public online, and what does privacy mean in this context; (4) the increase of participants’ agency in online qualitative research; and (5) the declining distinction between offline and online social phenomena. Conclusion: by using ontological and epistemological assumptions that do not consider the specificities of online experiences, and by focusing excessively on adapting known methods to the new settings, we researchers are bound to conceive the online experience and operate in it using offline categories. This way, we might be missing the opportunity to develop native, paradigmatic, online qualitative methods that, ultimately, would allow for a better understanding of the phenomena we investigate.

e210011

Authors: Cibele Cheron, Julice Salvagni, Renato Koch Colomby

Context: this paper explores different ways of using qualitative approach interviews, based on the assumption that the interview is not exclusively subjective or objective, but intersubjective, allowing participants to discuss and express their interpretations about the social world. Objective: the aim is to guide the use of the interview, step by step, in research in administration and related areas, offering a simplified guide to assist beginning and experienced researchers. Method: due to its objective, this tutorial article is descriptive and explanatory, interdisciplinary and supported by bibliographic sources. Results: theoretical considerations about the interview are made, conceptualizing essential aspects related to its structuring, development and evaluation. Also listed are the factors resulting from the intersubjectivity inherent in the act of researching, such as the potential types of interview, the dimensions of the preparation, the different possibilities of asking, the questions about the conduct of the meeting, the dimensions related to the analytical work, among others. Conclusion: as an outcome, it is suggested that the interviewer observe the asymmetry of the relationship with the interviewee, the inevitable presence of biases and distortions, and the rigor in planning the investigation.

e210313

Authors: João Vinícius de França Carvalho, Eduardo Flores, Emiliano A. Valdez

The insurance industry is one of the most relevant segments for sustainable economic development, not only because it protects society’s assets, but also because it encourages the formation of long-term provisions and reserves. Thus, it is possible to guarantee that advances in income distribution, as well as family consumption, will not regress under adverse scenarios. By promoting virtuous feedback between the productive activity and the legitimate social interest, this sector plays a central role in the promotion of collective well-being. Therefore, Actuarial Science can strongly collaborate in the development of Contemporary Administration.

e200390

Authors: Sandro de Azambuja, Carlos Heitor Campani

Objective: this article proposes the meta atuarial consistente (MAC) (consistent actuarial rate), which is a method that adjusts incompatible actuarial rates in pension funds, after investigating and proving that the rate dissociates from the general rule in current regulations (which binds this rate to the expected return of the investments of pension funds). Methodology: a sample with data from 22 defined-benefit plans was collected, and MAC was applied to produce consistent actuarial rates, after panel data methods have identified the elements that influence the definition of the actuarial rate by the pension fund board of trustees. Results: the use of MAC, adjusting actuarial rates of 2018 based on systematic biases in previous rates, enabled a positive effect that unfolds in more reliable estimates for the plans’ mathematical provision, while identifying elements that influence the determination of the annual rate, causing its non-compliance to the general rule. Conclusion: the adoption of MAC by the Brazilian supervisory authority Previc would improve the rules and provide subsidies to better adjust the contribution levels practiced in the plans, making their solvency levels more reliable, which would benefit the development of the insurance and pension market.

e200401

Authors: Tulio Henrique Moreira Marques, Mario Henrique Ogasavara, Frederico Araujo Turolla

Context: infrastructure projects assume the use of intensive capital and the participation of several actors, where the institutional environment influences their respective contractual arrangements. A financial instrument for project governance is surety bond (SB), whose purpose is to ensure compliance with the contracted object. However, research involving SB in the context of emerging countries such as Brazil is still incipient. Objective: this study aims to understand the use of SB in Brazil and proposes a conceptual model for analyzing transactions. It contributes to the literature by investigating the relationship between the actors and transactions involved in SB using the transaction costs theory and agency theory perspectives. Methods: this study adopts a qualitative methodology using primary data collected with 10 in-depth semi-structured interviews with market professionals with substantial experience in SB. In addition, it uses secondary data based on debate and a specific lecture on the topic involving the reality and the use of SB. Results: the findings indicate that the agency problem and the high transaction costs in Brazil prevent the development of this risk coverage market, giving rise to targeted public policies. Conclusion: the proposed conceptual model reflects the various specific transactions in the use of SB, the underlying phenomena and the validation of propositions related to market failures, and the institutional environment’s influence.

6

Authors: Gustavo da Silva Motta

Editorial

12

Authors: Yara Consuelo Cintra, Jim Haslam, Fernanda Filgueiras Sauerbronn

Objective: this essay aims to gain insights into the character of research designs and methods that best reflect the post-Marxist emancipatory accounting research promoted by Gallhofer, Haslam, and related writers. Thesis: emancipatory accounting research, as promoted by Gallhofer and Haslam, is non-dogmatic, subjectivist, and critical. It is consistent with a wide range of methods, although it is especially served by forms of qualitative research concerning key areas. It also values material from wide-ranging sources. Conclusions: the authors delineate appropriate research designs and methods in this area. We explore the theoretical appreciation of emancipatory accounting and reflect on debates over the philosophy of method in the literature to gain insights. The particularities and refinements involved in appreciating dimensions of emancipatory accounting are articulated: the multi-dimensional character of accountings’ functioning and dynamics; the complex and dynamic processes and phenomena that shape the significance of accountings; the envisioning of betterment; the particular praxis-orientation. At the same time, we point to similarities with other types of critical accounting research.

13

Authors: Fábio Chaves Nobre, Maria José de Camargo Machado, Liana Holanda Nepomuceno Nobre

Objective: the present research aims to understand the role of behavioral biases present in the investment decision in entrepreneurs and managers, in the light of the behavioral finance. Theoretical approach: Considering that non-financial aspects influence the decision making of investments in real assets, the present research focuses on how individual characteristics, notably behavioral biases, can affect these investment decisions, from the perspective of Behavioral Finance. Method: a qualitative research was developed. Interviews were held with eight managers or entrepreneurs who usually make investment decisions in real assets within their organizations. Interviews were transcribed and content analysis was used to analyze the data. Results: findings suggest the presence of behavioral biases in the decision-making presented by the interviewees, specifically the optimism and overconfidence, loss aversion, self-attribution, sunk cost, endowment effect, regret, conservatism, and external agent effect. Optimism, overconfidence, and loss aversion were present in all the interviewees’ speeches. Regret and external agent effect emerged in entrepreneurs’ speech while conservatism bias emerged in the speech of managers. Conclusions: entrepreneurs and managers indistinctly presented behavioral biases; however, the triggers for those biases are diverse. When it refers to insecurity in deciding, entrepreneurs allow themselves to question their own decision-making ability, by either regret or consulting an external agent, while managers hold themselves in conservative decisions.

13

Authors: Silas Dias Mendes Costa, Mayara Andresa Pires da Silva, Kely César Martins de Paiva, Diogo Henrique Helal

This teaching case portrays the routine of Willie, Joe, and Albert, three retired elderly people who lose their pension acquired after many years of work at the Wechsler factory. The company is ending its activities in the United States and the bank of which Joe is a client will be managing its liabilities. Living a modest life, the characters will face problems arising from the new context of the post-retirement period. To solve their problems, they decide to rob a bank. The objective of the case is to discuss the aging process and the dilemmas involving the elderly in the retirement period. As far as the data source is concerned, the case is fictitious, built from the movie Going in style, directed by Zach Braff and starring Morgan Freeman (Willie), Michael Caine (Joe), and Alan Arkin (Albert). The case uses as a didactic resource the description of scenes and subsequent preparation of teaching notes, which allows teachers and undergraduate and graduate students (both lato and stricto sensu) to analyze and critically discuss the dilemmas faced by elderly people in the retirement period. The case can be applied in disciplines such as People Management, Human Resource Management, Work and Society, Diversity in Organizations, and Labor Relations.

14

Authors: Thaysa Costa do Nascimento, Flávia Pimenta Fracalanzza, Victor Manoel Cunha de Almeida

The case presents the dilemma faced in November 2018 by Mancha Orgânica, a startup from Rio de Janeiro that produces organic paints. Mancha Orgânica is guided by principles of sustainability, producing a non-toxic paint from natural elements. Despite the recognition and good commercial results, the founding partners Amon and Pedro along with P&D consultant Martina wondered how to stimulate growth without losing the purpose of a more conscious consumption, considering the productive challenges. The case of Mancha Orgânica aims to propose a discussion about purpose and the challenges faced by purpose-driven companies. The case can be used in the disciplines of Branding or Marketing of lato or stricto sensu graduate programs. With the case, students are expected to develop the necessary skills to examine and differentiate the positioning and challenges of purpose-driven companies.