Showing papers in "Rae-revista De Administracao De Empresas in 2015"
TL;DR: The main purpose of the Social Entrepreneurship and Social Business (SE/SB) field is to diminish vulnerabilities and social inequalities in the world as mentioned in this paper, which can be seen as a way of bridging sustainable business models with society needs.
Abstract: Social Entrepreneurship and Social Business (SE/SB), inclusive business, businesses with social impact and a higher purpose are becoming increasingly important both in academia and the busi -ness world (Sassmannshausen & Volkmann, 2013). Since the influential article by Dees (1998), many different perspectives about social entrepreneurship and social business have been dis-cussed in academia. On the management side, these types of businesses have also proliferated in the last decades. Yunus with his work leading Grameen Bank has inspired many other entrepre -neurs and organizations to create a new kind of business more embedded with a social purpose.The main purpose of the Social Entrepreneurship and Social Business (SE/SB) field is to diminish vulnerabilities and social inequalities in the world. Indeed, SE/SB are emerging as prac -titioners of market forces that play an integrative role in bridging sustainable business models with society needs, that still exist because of opportunities arising from government gaps.According to Yunus (2010), one of the goals of SE/SB is to reduce poverty. Therefore, another stream of thought that is aligned with SE/SB is the Base of the Pyramid (BoP). From the semi-nal article by Prahalad and Hart (2002) much has been debated about BoP and how businesses might have a social impact. From a first approach based on the idea of a market base, the BoP field has evolved to a more inclusive perspective that has some relations to the concepts of SE/SB and currently has some of the same challenges of creating more inclusive approaches.The purposes of this article are twofold: firstly to examine some of the main themes dis-cussed about SE/SB up to the moment and secondly to present some major themes that we believe will be the focus in the next years.
40 citations
TL;DR: Forum Presentation on challenges relating to Anglo-Saxon hegemony in knowledge about organizations as mentioned in this paper, presented at the University of Southern California, Los Angeles, CA. USA. 2017
Abstract: Forum Presentation on challenges relating to Anglo-Saxon hegemony in knowledge about organizations.
39 citations
TL;DR: In this paper, the adoption of voluntary disclosures practices on Corporate Social Responsibility (CSR) by several communicational channels has influence over financial performance and corporate reputation, and the authors identify four CSR dimensions (social, ethical, environmental, partners) using a sample of 55 Chilean traded firms for the period 2007-2012.
Abstract: We analyze whether the adoption of voluntary disclosures practices on Corporate Social Responsibility (CSR) by several communicational channels has influence over financial performance and corporate reputation. Once we identify four CSR dimensions (social, ethical, environmental, partners) using a sample of 55 Chilean traded firms for the period 2007-2012. Our results show that the adoption of the four CSR dimension at the same time, and the social and ethical dimension improves financial performance, while a strength relationship with partners improve Corporate Reputation. Thus, we provide new evidence for an emerging market economy about the importance of CSR strategies adoption.
34 citations
TL;DR: In this article, the authors investigated the destination brand equity of the Lahore Fort by employing the CBBE model in a developing country context of Pakistan and found that brand image and brand associations positively contribute to brand loyalty.
Abstract: Studies that measure the brand equity of destination brands by using the Customer-Based Brand Equity (CBBE) model in a developing country context are scarce. The present study investigates the destination brand equity of the Lahore Fort by employing the CBBE model in a developing country context of Pakistan. Following the positivist tradition, we adopted a survey-based approach to collect data from 237 tourists visiting the Lahore Fort. Data were collected through a questionnaire developed to explain the relationship of brand awareness, brand image, brand association, and brand loyalty with Lahore Fort’s overall brand equity. We used various robust statistical techniques such as correlation, regression and confirmatory factor analysis (using PLS method) to reach meaningful conclusions and found that brand image and brand associations positively contribute to brand loyalty. Furthermore, brand loyalty significantly contributes towards overall brand equity. Pragmatically, this study measures the customer based brand equity of the Lahore Fort, a destination brand. The results are useful as they suggest a few strategies that can help policy makers to enhance Lahore Fort’s brand performance.
32 citations
TL;DR: In this article, the authors explored and tested how antecedents such as personal characteristics affect the financial management process, as well as its consequences, either negatively as defaults or positively as savings.
Abstract: Through two complementary and exploratory studies – one qualitative and one quantitative – this research aims to understand the ways in which lower-middle-class families in Brazil manage their household finances The study proposes an integrated framework that brings together various previously disconnected theoretical fragments Based on a survey with a sample of 165 lower-middle-class female consumers of a retail company in Sao Paulo, we explored and tested, via a quantitative study, how antecedents such as personal characteristics affect the financial management process, as well as its consequences, either negatively as defaults or positively as savings The model calibration and analysis were derived from a series of regression analyses The results revealed the mediator role that financial management plays in the relationship between personal characteristics and defaults and savings Compared to previous studies with consumers of more affluent countries, we identified peculiar findings among Brazilian lower-middle-class consumers: inadequate attention to control, weak or no focus on short- or long-range planning, widespread absence of budget surplus, and influence of critical events on episodes of default
27 citations
TL;DR: In this article, the authors analyzed the main lack of flexibilities in three Brazilian automotive supply chain (SC) that limit their resilience and therefore their capacity to better support and meet the demand changes in the marketplace.
Abstract: Supply chain (SC) resilience and flexibility are important research topics receiving growing attention. However, the academic literature needs empirical studies on SC resilience capable of investigating the inter-organizational components of flexibility along different tiers. Therefore, this paper analyzes the main lack of flexibilities in three Brazilian automotive SCs that limit their resilience and therefore their capacity to better support and meet the demand changes in the marketplace. A multi-tier case study approach is adopted. Research findings identify lack of flexibilities in different tiers that inhibit the SC resilience as well as manufacturing and SC flexibilities that build SC resilience. The findings also highlight that the same SC may have the flexibility to be resilient for one of its products but not for another product, what sheds new lights on the academic literature. Finally, flexible SCs should be designed to increase SC resilience to cope with mishaps as significant demand changes.
26 citations
26 citations
TL;DR: In this article, the adoption of voluntary disclosures practices on Corporate Social Responsibility (CSR) by several communicational channels has influence over financial performance and corporate reputation, and the authors identify four CSR dimensions (social, ethical, environmental, partners) using a sample of 55 Chilean traded firms for the period 2007-2012.
Abstract: We analyze whether the adoption of voluntary disclosures practices on Corporate Social Responsibility (CSR) by several communicational channels has influence over financial performance and corporate reputation. Once we identify four CSR dimensions (social, ethical, environmental, partners) using a sample of 55 Chilean traded firms for the period 2007-2012. Our results show that the adoption of the four CSR dimension at the same time, and the social and ethical dimension improves financial performance, while a strength relationship with partners improve Corporate Reputation. Thus, we provide new evidence for an emerging market economy about the importance of CSR strategies adoption.
26 citations
TL;DR: Aguilar et al. as mentioned in this paper investigated the impact of the implementation of TI ecologica in organizaciones, a luz de la vision estructuracionalista de la tecnologia.
Abstract: La sustentabilidad ambiental se ha vuelto de vital importancia para los negocios como respuesta a la disminucion rapida de los recursos naturales. La Tecnologias de la Informacion (TI) en particular representa una parte significativa de los problemas ambientales que ha enfrentado la sociedad. Por lo tanto, la TI ecologica surge como una forma de combinar recursos disponibles y politicas sustentables y economicas, y por lo tanto, generar beneficios para el medio ambiente y los negocios. El objetivo de este documento, por lo tanto, es explicar la dinamica de la implementacion de TI ecologica en organizaciones, a la luz de la vision estructuracionalista de la tecnologia. Llevamos a cabo una investigacion de estudio de caso en los casos de tres empresas brasilenas interesadas en este movimiento. Los resultados ofrecen un mejor entendimiento de la relacion entre tecnologia, individuos y propiedades institucionales de la organizacion y, por lo tanto, mejorar el rol representado por los equipos de TI en institucionalizar la dimension ambiental de sustentabilidad en las organizaciones.
23 citations
TL;DR: In this article, the authors discuss the possible contributions of studies that combine history and everyday life to build new perspectives about management, and discuss the association of management, history, and studies about everyday life as an option to produce alternative perspectives within Management.
Abstract: The purpose of this article is to discuss the possible contributions of studies that combine history and everyday life to build new perspectives about Management. To achieve this goal, we discuss the association of Management, history, and studies about everyday life as an option to produce alternative perspectives within Management. We conclude by reiterating that the construction of these dialogues can open interesting paths to the development of self-reflective knowledge that are politically, socially, and geographically positioned.
22 citations
TL;DR: In this paper, the authors discuss the possible contributions of studies that combine history and everyday life to build new perspectives about management, and discuss the association of management, history, and studies about everyday life as an option to produce alternative perspectives within Management.
Abstract: The purpose of this article is to discuss the possible contributions of studies that combine history and everyday life to build new perspectives about Management. To achieve this goal, we discuss the association of Management, history, and studies about everyday life as an option to produce alternative perspectives within Management. We conclude by reiterating that the construction of these dialogues can open interesting paths to the development of self-reflective knowledge that are politically, socially, and geographically positioned.
TL;DR: In this paper, the authors investigate the collaborative methods concerning the coordination of supply chains and analyze their characteristics and implementation difficulties, concluding that there is little adhesion of collaborative methods for SCM, as well as implementation difficulties.
Abstract: The collaborative management issue has been discussed as a mean to generate competitive advantage. Collaborative initiatives in supply chains (SC) enabled the emergence of methods and practices that support the idea that competitiveness does not occur between isolated companies any longer, but between chains. In literature, in addition to collaborative methods for supply chain management (SCM), it is possible to find initiatives for project, configuration, and optimization, among others. However, there is little adhesion of collaborative methods for SCM, as well as implementation difficulties. The purpose of the article is to investigate the collaborative methods concerning the coordination of SC and analyze their characteristics and implementation difficulties. A systematic review indicated the Collaborative Planning, Forecasting and Replenishment (CPFR) as the most discussed collaborative approach and, subsequently, a case study identified difficulties in the implementation that complemented what was researched in the literature.
TL;DR: In this article, the authors investigate the impact of falencias bancarias on the performance of financial institutions in the context of the Tratado de Livre Comercio da America do Norte (NAFTA) and the Uniao Europeia.
Abstract: Falencias bancarias afetam proprietarios, funcionarios e clientes, e tem potencial para causar crises economicas de grande escala. Portanto, os bancos devem avaliar os riscos operacionais e desenvolver sistemas de alerta preventivo. O presente estudo investiga falencias bancarias na Organizacao para a Cooperacao e Desenvolvimento Economico, nos paises integrantes do Tratado de Livre Comercio da America do Norte (NAFTA, na sigla em ingles), na Associacao de Nacoes do Sudeste Asiatico, na Uniao Europeia, em paises recentemente industrializados, no G20 e no G8. Utilizamos indicadores financeiros para analisar e explorar a adequacao de modelos preditivos. Os resultados demonstram que indices de capital, juros ativos comparados a despesas com juros, receitas excluindo juros comparadas a despesas excluindo juros, rentabilidade sobre o patrimonio e provisoes para prejuizos sobre emprestimos tem correlacoes significantemente negativas com falencias bancarias. No entanto, indices de emprestimos, creditos de liquidacao duvidosa e ativos fixos tem correlacoes significantemente positivas com falencias bancarias. Alem disso, a exatidao do modelo logistico para os bancos dos paises que fazem parte do NAFTA fornece melhor precisao em termos de previsao no que diz respeito a falencia bancaria.
TL;DR: Analysis of the dynamics of implementation of a Health Information System in a Brazilian public hospital by following the actors involved in controversies occurred throughout the project trajectory reveals that the concept of success was jointly developed via negotiation of devices of interessement introduced during the project.
Abstract: This paper, based on the Actor-Network Theory, intends to analyze the dynamics of implementation of a Health Information System (HIS) in a Brazilian public hospital by following the actors involved in controversies occurred throughout the project trajectory. The changes observed over the course of the system implementation reveal that the concept of success was jointly developed via negotiation of devices of interessement introduced during the project.
TL;DR: In this article, the authors discuss the factors that influence the results of a social business operating in three countries: Botswana, Brazil and Jordan, and the results allow understanding the challenges involved in constructing social businesses in developing countries as well as a better understanding of the very nature of those businesses, considering the social realities where they operate.
Abstract: In developing countries, initiatives have often been undertaken in order to fight social and environmental problems. Since the 1990s, an increase can be seen in corporate social responsibility actions, as well as increasingly strong activities by civil society organizations. Tweenty years ago, companies and civil society organizations stood wide apart from each other, with often conflicting agendas and resistance to mutual collaboration. This reality has changed significantly. Besides the phenomenon of cross-sector partnerships, we can also observe the expansion of a particular organization type, i.e., the social business, which combines two objectives that were previously seen as incompatible: financial sustainability and the generation of social value. This article aims to discuss the factors that influence the results of a social business operating in three countries: Botswana, Brazil and Jordan. The results allow understanding the challenges involved in constructing social businesses in developing countries as well as a better understanding of the very nature of those businesses, considering the social realities where they operate.
TL;DR: In this article, the effect of shareholders' agreement binding provisions on firm value was analyzed using a database of 181 publicly listed firms from the special segments of the BM&FBovespa, between 2008 and 2012.
Abstract: This study analyzes the effect of shareholders’ agreement binding provisions on firm value. Using a database of 181 publicly listed firms from the special segments of the BM&FBovespa, between 2008 and 2012, we analyze the effect of the inclusion of generic and specific clauses into the shareholder agreement bind director’s vote to the agreement on firm value. The results indicate a negative effect of the shareholders’ agreement on firm value. This effect is higher in the presence of generic clauses and lower in the presence of specific clauses, even after controlling for the endogeneity of the shareholders’ decision to adopt shareholder agreements. The results allow us to conclude that controlling shareholders use the shareholder agreements as a mechanism to enhance control at the expense of firm value (entrenchment effect). This article contributes to the literature on governance and corporate finance to reveal practices that weaken the role of one of the main pillars of governance, the board of directors.
TL;DR: In this article, the authors investigated the main tensions and dilemmas occurring throughout the history of Rede Asta, a pioneer social business in direct catalog sales of artisanal products in Brazil.
Abstract: Social businesses seek financial, social and even environmental results. Academic knowledge on how such organizations operate, however, has emerged more recently. This article sought to investigate qualitatively the main tensions and dilemmas occurring throughout the history of Rede Asta, a pioneer social business in direct catalog sales of artisanal products in Brazil. Results indicate the Rede Asta managers have experienced tensions and dilemmas in three of the four categories identified by Smith, Gonin, and Besharov (2013): social and financial performance, organizational aspects and learning. One of the dilemmas involves organizational aspects and learning, since Asta achieves feasibility with two organizations: a nonprofit association and a for-profit corporation. On perceptions of belonging, stakeholders declared they felt they were a part of the organization’s social and environmental goals; some even as activists.
TL;DR: In this paper, the authors integrate public management and IB theories to develop propositions that combine these questions: why SOEs internationalize; what are their motivations; and what are the main managerial outcomes of SOEs' internationalization.
Abstract: State-owned enterprises (SOEs) are created to focus on domestic needs, and yet recent evidence points to increasing outward foreign direct investment by SOEs. Existing International Business (IB) theories focus on efficiency-based motives for internationalization; therefore, they do not fully capture SOEs' internalization dynamics, which are driven largely by political factors and social welfare considerations. We integrate public management and IB theories to develop propositions that combine these questions: why SOEs internationalize; what are their motivations; and what are the main managerial outcomes of SOEs' internationalization. Our findings suggest that SOEs display little hesitancy in entering international markets, and that SOE international expansion is not contradictory with the goals of state-ownership if the purpose is to adjust the company to changing institutional environments both in the domestic and international markets. Our propositions about SOE internationalization are based on an in-depth case study of the outward foreign direct investment conducted by Brazil's Petrobras over the past three decades.
TL;DR: The authors analyzes the slave labor in Brazil and provides empirical support for a theory of contemporary slavery as a practice management, and suggests that the field does not have the understanding of the fundamentals of poverty and how management is implicated in its reproduction and relief.
Abstract: Contemporary slavery is embedded in market relations between global organizations and their suppliers, and involves people management practices that injure human rights such as curtailing freedom, degrading conditions of work and exhausting journey. The article analyzes the slave labor in Brazil and provides empirical support for a theory of contemporary slavery as a practice management. Two main aspects justify this contribution. First, the debate draws attention to the dynamics of social responsibility and the social impact of business activities in emerging countries. Secondly, it puts in evidence the discussion of poverty and its interrelations with the global system of production and consumption. The paper suggests that the field does not have the understanding of the fundamentals of poverty and how management is implicated in its reproduction and relief. The research agenda emphasizes the unsustainability aspects of the globalized production and consumption, and prioritizes the problem.
TL;DR: In this paper, a critical approach elaborated in Brazilian OS provides an original body of knowledge that expresses an anti-management (A-M) attitude, and an OS agenda that is liberated from M. In this paper, we honor and disseminate the Brazilian A-M authors point out, the distinction between North/South M is irrelevant; what is relevant is a coherent pluriversal A-m attitude.
Abstract: The expressions Management and Organization Studies and Management and Organization Knowledge are expressions of an Anglo-Saxon construct. The association of Organization Studies (OS) with Management (M) produces the subordination of the former to the latter. In a different direction, a critical approach elaborated in Brazilian OS provides an original body of knowledge that expresses an anti-management (A-M) attitude. As the Brazilian A-M authors point out, the distinction between North/South M is irrelevant; what is relevant is a coherent pluriversal A-M attitude. In this paper, we honor and disseminate the Brazilian original body of knowledge on OS and introduce an OS agenda that is liberated from M.
TL;DR: In this article, a multilevel framework was applied, mainly influenced by two theoretical lenses (structurationist view and social shaping of technology) to understand the use and the consequences of Participatory Geographic Information System (PGIS) in a Mexican local community.
Abstract: This paper seeks to understand the use and the consequences of Participatory Geographic Information System (PGIS) in a Mexican local community. A multilevel framework was applied, mainly influenced by two theoretical lenses – structurationist view and social shaping of technology – structured in three dimensions – context, process and content – according to contextualist logic. The results of our study have brought two main contributions. The first is the refinement of the theoretical framework in order to better investigate the implementation and use of Information and Communication Technology (ICT) artifacts by local communities for social and environmental purposes. The second contribution is the extension of existing IS (Information Systems) literature on participatory practices through identification of important conditions for helping the mobilization of ICT as a tool for empowering local communities.
TL;DR: In this article, an exploratorio and descriptivo approach is presented to determine the influencias simultaneas that ejercen the recursos intangibles sobre the gestion estrategica in IES.
Abstract: Las organizaciones se desenvuelven en entornos exigentes y competitivos creados por demandas de las sociedades y marcados por la crisis financiera mundial a la que no escapan las Instituciones de Educacion Superior (IES), que estan orientadas a satisfacer las necesidades del entorno y a fortalecer el flujo de informacion y colaboracion con la sociedad. En este contexto se plantea una investigacion de tipo exploratorio y descriptivo, que se considera como un primer intento por desarrollar y probar empiricamente los aspectos teoricos existentes sobre el tema. El objetivo es determinar las influencias simultaneas que ejercen los recursos intangibles sobre la gestion estrategica en las IES. Estas relaciones se evaluaron con un analisis de estructuras de covarianzas que requirio la construccion y validacion de un sistema de medida adecuado para cada una de las variables objeto de estudio. Dicho analisis arrojo como resultado que solo dos de las cuatro hipotesis planteadas son significativas, loque demuestra que los recursos intangibles Gestion del conocimiento y Reputacion Organizacional, son los que influyen directamente en los procesos de gestion estrategica que realizan las IES. A partir de estos descubrimientos se dispone de referentes empiricos sobre la Gestion de Recursos Intangibles, destacando el hecho que la gestion estrategica en las IES puede mejorar sustancialmente a traves de la implementacion de procesos que involucren el manejo adecuado de los intangibles que poseen.
TL;DR: It is found that ICTs enabled innovations are not isolated events, since they affect existing processes, the relationship with clients and suppliers, and require greater integration of organizational functions.
Abstract: Este artigo examina os objetivos, instrumentos e caracteristicas das inovacoes habilitadas por Tecnologias da Informacao e Comunicacao (TICs) no Brasil, enfatizando as tecnologias utilizadas, os canais habilitados pelas ferramentas digitais, os processos de aprendizado para inovacao e as mudancas organizacionais necessarias para o uso de ferramentas avancadas. A metodologia consiste na adaptacao de taxonomias existentes para os propositos especificos da pesquisa e a realizacao de uma pesquisa de campo com o auxilio do software Atlas.ti. Os resultados mostram que as inovacoes habilitadas por TIC nao constituem eventos isolados e pontuais, uma vez que alteram processos, formas de relacionamento com parceiros e clientes, e requerem uma maior integracao de funcoes organizacionais. Importantes diferencas foram observadas em funcao do porte da empresa, da internacionalizacao das operacoes, da capacitacao tecnica e do grau de acesso a ferramentas proprietarias.
TL;DR: In this paper, the authors present and discuss the methodology of Discussion Group (DG) as a group practice in qualitative research, opening further possibilities to apply it in organizational studies, and present a warning about the misconception involving the practice of DG as a prescription.
Abstract: The goal of this theoretical-methodological essay is to present and discuss the methodology of Discussion Group (DG) as a group practice in qualitative research, opening further possibilities to apply it in organizational studies. The essay is structured as follows: first, we present a warning about the misconception involving the practice of DG as a prescription; second, we describe DG and group discourse; then we differentiate DG and focus group; finally, we discuss the technical elements of DG. This essay contributes to present this methodology to researchers of organizational studies and to develop the place of group practices in social research.
TL;DR: In this paper, the fundamental organizational differences between Brazilian franchise chains that only operate in the home market and Brazilian franchises that operate internationally were analyzed, and it was shown that the development of a brand in international operations can be a strategic decision for some Brazilian franchises and that this seems to be a scarce resource for many franchises and it could be developed through international operations.
Abstract: The primary goal of this paper is to comprehend the fundamental organizational differences between Brazilian franchise chains that only operate in the home market and Brazilian franchise chains that operate internationally. The sample chosen for this study comprehends 96 Brazilian franchises operating in the home market and 67 franchises with international operations; logistic regression was used to analyze data obtained from these sources. Our findings suggest that the development of a brand in international operations can be strategic for certain Brazilian franchise chains; this seems to be, however, a scarce resource for many franchises and it could be developed through international operations. With regard to the fees charged, the outcomes demonstrate that Brazilian franchises with international operations tend to charge lower fees from its franchisees to install new units. Regarding the monitoring and control of franchises, there is evidence that the monitoring capability is one of the determining factors in the development of Brazilian franchises international operations.
TL;DR: In this paper, a sintese de pesquisas sobre crimes corporativos is realizado, with o objetivo de buscar uma aproximacao do tema com o campo dos estudos organizacionais.
Abstract: Escândalos corporativos tem sido comuns na sociedade contemporânea. Nesse contexto, os crimes cometidos nas e por corporacoes tambem tomam vulto e, frequentemente, tomamos conhecimento de um tipo de crime corporativo, um tema nao explorado em pesquisas nos estudos organizacionais. Neste estudo, realizamos uma sintese de pesquisas sobre crimes corporativos com o objetivo de buscar uma aproximacao do tema com o campo dos estudos organizacionais. Desenvolvemos o artigo sinalizando para a predominância da abordagem moderna em estudos sobre o tema e, ao final, propomos perspectivas alternativas para a analise da criminalidade corporativa no âmbito dos estudos organizacionais.
TL;DR: In this article, a study of the impact of producto on the exit of marcas globally and locales in Latin America Latina is presented, showing that producto attributes such as caracteristicas of the categoria de producto have a significant impact on the aplicación of global and local marcas.
Abstract: El proposito de este trabajo es abordar la cuestion de la aplicacion de marcas globales y locales en America Latina mediante la elaboracion de teoria de contingencia para desarrollar y poner a prueba las hipotesis relativas a como las caracteristicas de la categoria de producto influyen en el exito de las marcas globales y locales en la region. Las hipotesis se ponen a prueba utilizando datos obtenidos de rankings de marcas top publicados en cinco mercados de America Latina (Argentina, Brasil, el Caribe y America Central, Chile y Mexico). El diseno del estudio considera la estimacion de una regresion logistica sobre una variable dependiente binomial midiendo si las 475 marcas top son marcas globales o locales con las caracteristicas de la categoria de producto como variables independientes. Los resultados revelan que las categorias de producto relacionadas con las suscripciones, los gustos locales, la alta tecnologia y ciudadania mundial tienen un impacto en el exito de las marcas globales y locales en America Latina.
TL;DR: The most recent edition of the RAE-Revista de Administracao de Empresas (RAE) special issue on Behavioral Finance as mentioned in this paper was devoted to modern issues in behavioral finance.
Abstract: As recently as three decades ago, human factors were rarely considered in theoretical and empirical research in finance (Miller, 1986). However, this has gradually changed, especially after the internet bubble at the beginning of the twenty-first century. As part of this new understanding of the importance of human factors, a new field of knowledge has gained prominence: Behavioral Finance, which uses ideas derived from psychology, many of which draw upon the seminal work of Daniel Kahneman, winner of the Nobel Prize in 2002. Behavioral Finance is a growing approach that sparks fertile and innovative field research in finance, with potential for development of new management tools, whether in the area of corporate finance or investments. Since the work of Kahneman (2002), the behavioral approach has provided results that are relevant for assessing the quality of executive decisions (Campelo, 2012, p. 881). In the area of asset pricing, in the last decade, for example, researchers have tried to discover and interpret anomalies in stock returns, such as reactions to news and extreme events (Bange & Miller, 2004; Hwang & Salmon, 2004). Thus, in April 2012, the Observatorio da Inovacao Financeira, a nucleus research of the Escola de Administracao de Empresas de Sao Paulo, Fundacao Getulio Vargas (FGV/EAESP), in partnership with researchers working in Brazil, the United States and Europe, and with the support of the Editorial Board of the RAE-Revista de Administracao de Empresas, issued a call for papers devoted to modern issues in Behavioral Finance. From the methodological point of view, we understand that Behavioral Finance works on three levels: i) experiments with subjects under controlled laboratory conditions; ii) study of financial decisions in the real world, with applications in personal, family, professional and corporate spheres; and iii) the behavior of financial markets. The papers selected for this special issue of RAE cover topics that address all three levels of studies in Behavioral Finance. We received 25 submissions, four were selected. We thank all authors and reviewers, as well as the Editorial Team of the RAE, especially the editor-in-chief Eduardo Diniz, and Eduarda Pereira (Editorial Assistant) for the attention with which they treated the work and the whole manuscript evaluation and improvement process. We are extremely grateful to Professor Hersh Shefrin (University of Santa Clara), who presented his overview of the contemporary literature on Behavioral Finance. We also thank the authors of the book review and recommendations, which complete this special issue.
TL;DR: In this paper, the authors investigated the destination brand equity of the Lahore Fort by employing the CBBE model in a developing country context of Pakistan and found that brand image and brand associations positively contribute to brand loyalty.
Abstract: Studies that measure the brand equity of destination brands by using the Customer-Based Brand Equity (CBBE) model in a developing country context are scarce. The present study investigates the destination brand equity of the Lahore Fort by employing the CBBE model in a developing country context of Pakistan. Following the positivist tradition, we adopted a survey-based approach to collect data from 237 tourists visiting the Lahore Fort. Data were collected through a questionnaire developed to explain the relationship of brand awareness, brand image, brand association, and brand loyalty with Lahore Fort’s overall brand equity. We used various robust statistical techniques such as correlation, regression and confirmatory factor analysis (using PLS method) to reach meaningful conclusions and found that brand image and brand associations positively contribute to brand loyalty. Furthermore, brand loyalty significantly contributes towards overall brand equity. Pragmatically, this study measures the customer based brand equity of the Lahore Fort, a destination brand. The results are useful as they suggest a few strategies that can help policy makers to enhance Lahore Fort’s brand performance.