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The purpose of this paper is to explore the different concepts of innovation in the subsistence marketplace from top-down and bottom-up approaches. This study analyzes the literature on the theme and identified research gaps by constructing a framework based on approaches and innovation concepts, which can guide future research efforts. Additionally, this paper presents two case studies, which can improve the way innovation is developed and diffused in the subsistence marketplace.

Through a literature review, this study develops a framework by analyzing innovation concepts in the subsistence marketplace (i.e. base of the pyramid innovation, disruptive innovation, frugal innovation, reverse innovation and inclusive innovation) in light of subsistence marketplace approaches (top-down and bottom-up).

The analysis showed critical research gaps, especially a lack of studies involving disruptive and frugal innovations from a bottom-up approach. This paper also concludes that the top-down approach is more common than the bottom-up one. To fill these gaps, this study presents two business plans by illustrating disruptive innovation vs bottom-up approach and frugal innovation vs bottom-up approach.

The use of real business plans to illustrate proposals having an actual impact on subsistence marketplace regions sheds light on how to address these challenges. By doing so, this paper intends to fill the theoretical gap in disruptive and frugal innovations within a bottom-up approach to promote the development and diffusion of different types of innovation in the subsistence marketplace, and thus provide solutions to alleviate poverty.

Food socialization is the process of influences that forms children's eating habits and preferences, affecting their well-being for life. The authors' study explores what children and adolescents eat and how they obtain food at school, aiming to describe the deleterious food socialization phenomenon. The authors focused on understanding how deleterious food socialization influences children's food well-being within the school environment.

The authors developed a mixed methodology using structured questionnaires with open and closed questions. The authors also took pictures of the schools' canteens, which allowed deepening the understanding of the school environment. The data collection occurred in two Brazilian private schools. The schools' teachers were responsible for collecting 388 useful questionnaires from students between 10 and 14 years old.

The authors found statistically significant differences between food originating at home and school. The amount of ultra-processed foods and beverages consumed at home and taken by children and adolescents from home to school is smaller than what they buy in the school canteen or get from their colleagues. Thus, the authors suggest that the school environment tends to be more harmful to infant feeding than the domestic one.

This study coins the concept of deleterious food socialization: situations or environments in which the food socialization process negatively impacts one's well-being. The authors' results illustrate the deleterious food socialization phenomenon in the school environment.

Luxury companies have expanded globally, but little attention is given to the difficulties associated with expansion to culturally different countries, especially when focusing on training salespeople in rapport-building behaviors. To address this discussion, we answer these research questions: (1) Does the luxury fashion brand country of origin affect the rapport-building strategies of salespeople?; (2) How do luxury fashion employees classify customers from collectivistic cultures with emerging economies, such as that in Brazil?; and (3) What are the rapport-building strategies used by these salespeople for each of these luxury fashion customer segments?

The authors conducted in-depth interviews with salespeople, managers and team supervisors from four global luxury retailers from Britain, France and Italy that operate in Brazil. In total, the authors interviewed 20 employees with an average of greater than 7 years of experience in luxury sales. The authors based their analysis on a theoretically generated coding guide and content analysis theories.

When expanding to culturally different countries, retail companies should adopt glocal strategies, especially when luxury is involved and when customers demand exclusive attention from companies. Additionally, the authors suggest that the effectiveness of rapport building strategies is culturally dependent and should be adapted to the microlevel, especially for continental countries that are culturally diverse.

This is employee-view research, with no inputs from customers or corporate managers. Luxury fashion brand stores did not grant permission for official research within their employees nor the observation of their customers during in-store interactions. Researchers interviewed employees as individual professionals, and their identities will remain anonymous.

When expanding to culturally different countries, luxury retailers should give special attention to the adaption of sales strategies, training and sales guidelines.

This study focuses on customer-employee rapport from the company's perspective.

The purpose of this article is to analyze the effects of the integration process for the Integrated Market of Latin America (MILA) on its stock markets behavior as well as their degree of integration.

Daily time series data were used for stock returns, volatility, volume and the number of transactions and securities between August 16, 2007 and December 28, 2018. A DCC-MGARCH model was applied to analyze the impact of MILA on stock market behavior and predict dynamic correlations. A GARCH (1,1) model was used to determine the effect of MILA on co-movements between markets. Finally, a Markov regime switching model was used for robustness analysis.

MILA increased stock market activity in terms of volume, transactions and securities traded. However, it reduced returns and volatility. MILA had significant effects on the dynamic correlations between regional stock markets. After the integration process, the dynamic correlations of returns and volatility were reduced, but those related to volume, transactions and securities traded increased. Mexico's subsequent entry into MILA further reduced market volatility, but it did not have relevant effects on markets' co-movements.

These results are relevant for investors and policymakers. MILA has benefited the markets by promoting stock market activity, reducing risk, creating a margin for diversification and limiting risk contagion between them. These results help to guide investment decisions due to the fact that MILA's benefits in terms of regional diversification would be greater in some markets.

The purpose of this article is to analyze the effects of accruals-based earnings management (AEM) and institutional and financial development on corporate risk of Latin-American firms.

The GMM estimator was used according to Arellano and Bond (1991) for panel data on a sample of 914 non-financial companies between 2005 and 2017.

AEM practices significantly increase corporate risk. This result indicates that the risk increase is associated to weakening of the corporate governance of companies. Positive discretionary accruals also have the same impact on corporate risk. In addition, accrual-based earnings management has a non-linear impact on corporate risk. Higher institutional and financial development systemically reduces the risk of Latin American firms. Institutional development can mitigate the effects of earnings management on corporate risk.

These results support that AEM represents a practice that managers use to weaken firms' corporate governance and expropriate wealth from shareholders. These practices promote higher firm's risk. However, the institutional and financial development reduces the corporate risk and contributes to mitigate the impact of AEM on it. These results have relevant implications for firms' corporate governance because they warn the relevance to control AEM practices and its impact over corporate risk perception by investors. These results also are relevant to policymakers because they orient the financial policies design to strengthen the institutional and financial development as a systematic way to reduce the firm's risk.

El propósito de este artículo es analizar los efectos de la gestión de ganancias basada en devengos (AEM) y el desarrollo institucional y financiero sobre el riesgo corporativo de las empresas latinoamericanas.

Se utilizó el estimador GMM de Arellano y Bond (1991) sobre una muestra de 914 empresas no financieras entre 2005 y 2017.

Las prácticas de AEM aumentan significativamente el riesgo corporativo. Este resultado indica que el aumento del riesgo está asociado al debilitamiento del gobierno corporativo de las empresas. Los devengos discrecionales positivos también tienen el mismo impacto en el riesgo corporativo. Además, la gestión de ganancias basada en el devengo tiene un impacto no lineal sobre el riesgo. Un mayor desarrollo institucional y financiero reduce sistémicamente el riesgo de las empresas. El desarrollo institucional puede mitigar los efectos de la gestión de ganancias sobre el riesgo corporativo.

Estos resultados revelan que AEM es una práctica que debilita los gobiernos corporativos y permite expropiar riqueza de los accionistas. Estas prácticas promueven un mayor riesgo corporativo, aunque el desarrollo institucional y financiero lo reduce. Estos resultados tienen implicancias relevantes para el gobierno corporativo de las empresas porque indican la relevancia de controlar estas prácticas en la percepción de riesgo de los inversionistas. Estos resultados también son relevantes para los reguladores porque orientan el diseño de políticas financieras hacia el fortalecimiento del desarrollo institucional y financiero como una vía sistemática que reduce el riesgo de las empresas.

This article focusses on the hybrid strategy, a simultaneous combination of cost leadership and differentiation strategy. The study aims to examine the impact of hybrid strategy on firm performance through its anticipated positive effects on process and product innovation. In addition, we study the moderating role of adaptive capacity in the direct relationships of hybrid strategy with process and product innovation.

Structural equation modelling was used to analyse 1,842 Spanish firms with fewer than 250 employees. We randomly selected small and medium-sized enterprises (SMEs) operating in Spain from the Spanish Central Business Directory (2021) database. The overall sample design was based on stratified sampling.

We found that hybrid strategy is positively related to firm performance and to process and product innovation. Additionally, in firms implementing hybrid strategies, process innovation fostered firm performance. Finally, adaptive capacity strengthened the relationships of hybrid strategy with process and product innovation. This sheds light on how and when hybrid strategy is most effective in fostering SME performance.

We highlight that SMEs need to establish strategies that use diverse resources and capabilities and not just generate competitive advantage using one strategy (cost leadership or differentiation strategy). This requires an agile and flexible systems and structures.

Our research provides novel results by proposing the adoption of hybrid strategies instead of pure strategies (cost leadership and differentiation strategy) as a way for SMEs to survive during crises. Unlike “stuck in the middle” strategies, our study demonstrates the importance of hybrid strategies in a comprehensive model that links them to innovation and firm performance, with adaptive capacity being a determining factor.