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The purpose of this paper was to evaluate the differences between common Brazilian beer and pure malt beer in the responses of hedonic scaling, willingness to pay and emotional response.

Two types of beer were selected to be tested – a common beer: Pilsen Skol and pure malt beer: Pilsen Eisenbahn. All the analysis was conducted under three labeling conditions: blind; labeled; inverted label with 70 participants in each test. A nine-point hedonic scale evaluated the acceptance. The consumer was questioned how much he/she would be willing to pay for a bottle of beer that he/she tasted. A questionnaire was elaborated based on the EsSense profile to evaluate emotions; 25 emotions were evaluated using a five-point scale. The socioeconomic status was defined based on consumer's household characteristics.

The acceptance score, positive emotions and willingness to pay were higher for pure malt beer in the labeled test and for common beer (labeled as pure malt) in the inverted test. The findings highlight that information, such as beer type and socioeconomic status, could influence consumer responses by altering hedonic perceptions, emotions and commercial value attributed to different beers. In general, the beer type did not affect the evaluated variables.

Brewing industry should explore in their marketing strategies and state clearly the pure malt label. In restaurants, owners can explore pure malt beers as a strategy for garnering different customer profiles. Technological and production investments should be encouraged to reduce the product price, favoring the final consumer.

This study contributes to understanding the growth in the consumption of pure malt beers in Brazil. Moreover, it brings an overview of the influence of the label/information on regular Brazilian consumers.

The purpose of this paper is to investigate firm strategies and the exertion of market power in the brewing sector in Brazil following a merger between the two largest brewers (Brahma and Antarctica) that created Ambev and given that the existing literature is inconclusive on this subject

In this study the authors apply cointegration analysis to price series of beer brands. The authors use the reduced form vector error correction (VEC) model to measure the price responses of beer brands in terms of direction, magnitude and speed. The authors use monthly retail prices for the primary brands of beer in the city of São Paulo, Brazil's largest consumer market. Specifically, the authors use two sets of retail prices, one from bars (the main point of beer sales, with roughly 50% of market share) and another from supermarkets. The series range from 1994 to 2014, depending on the brand.

This study indicates that Ambev's two major brands (Skol and Brahma) behave as market leaders, while its third brand (Antarctica) has been used to challenge the low-price competitor (Nova Schin). The authors also found evidence that the pricing policies of Brahma and Antarctica have changed toward cooperation following the creation of Ambev.

The main limitation of this article is that the authors only had access to retailer data. As the merger involved brewers, the authors would ideally use manufacturer beer prices in their econometric analysis. However, the consistency of our results suggests that retailers have been passively transmitting brand strategies launched at a manufacturer level.

As the dominant firm created following the merger of the two largest brewers appears to use one of its brand to restrict entry of competitors and the premium brands to enjoy high profits, consumers tend to be harmed by high beer prices and lack of options. Furthermore, small and medium-size companies cannot grow due to entry barriers created by the dominant firm.

This paper is the first to apply cointegration analysis to examine the effect of mergers on pricing strategies. The robustness of this study suggests that this approach could be used for antitrust agencies to monitor post-merger strategies.

The purpose of this paper is to determine the demographic characteristics and habits of craft beer consumers, as well as to identify the motivational factors for consumption.

Data were collected through questionnaires applied to 316 Brazilian craft beer consumers, and results were evaluated descriptively and by multivariate statistics.

The results of the survey revealed that there is a growing market segment with different buying habits and behaviors compared to traditional beer consumers. Demographically, it was found that these consumers are an attractive part of the beer market in terms of age, schooling and, more importantly, in terms of income, factors that indicate the probability of continued growth in the sector.

The research was limited to craft beer consumers in the metropolitan region of Belo Horizonte/MG, Brazil.

The results obtained are important, as they can help new craft breweries, as well as help established industry managers to create strategies related to marketing four Ps in order to increase the consumption of its products, with competitive advantages to the market.

This research presents the characteristics of the consumers of craft beer, a market segment in evident rise in Brazil, about which there are few studies. In addition, it provides valuable information to both the new beverage manufacturers as well as to the already established entrepreneurs in the market so that they can increase the consumption of their products in a strategic way.

The objective of this research is to analyze the microfoundations of dynamic capabilities used by microbreweries in Porto Alegre (Brazil) in their coopetition strategies.

A case study with a qualitative approach was developed. Data were collected during interviews with owners of 11 microbreweries, via analysis of documents and nonparticipatory observation. The authors used the content analysis technique to infer knowledge.

The authors identified the microfoundations of dynamic coopetition capabilities including collective purchases, shared distribution expenses, shared production, education of consumers and other beer producers, group interaction and a business roundtable with entrepreneurs from the food and drink sector in the hospitality industry.

The authors developed a framework that considers the relationship between the microfoundations of dynamic capabilities and coopetition regarding the paradox between competition and cooperation. It is relevant to identify different actors’ movements and the potential outcomes of coopetitive strategies, which yield a competitive advantage for the cluster.

Together, the microfoundations of dynamic capabilities contribute to the competitive advantage of the cluster.

The study highlights how small companies can jointly develop competitive advantage in a market dominated by a large company.

The purpose of this paper is to analyze the consumers’ luxury value perception in Brazilian premium beer market.

Data from a survey of 418 Brazilian consumers were used to test the research model. Confirmatory factor analysis was conducted to examine the reliability and validity of the measurement model, and the structural equation modeling was used to analyze the consumers’ luxury value perception.

The analytical results showed that the dimensions of social, individual and functional values featured items with high significance. For the fourth dimension (financial value), just one item presented relevance. Along with it, correlation between dimensions was analyzed. All four dimensions have higher significance and great estimates.

This research was executed in a single country environment.

Results suggest that the only significant item to the consumers’ luxury value perception in the dimension of financial value is the higher price of premium beers. Other dimensions are well fit for the premium beer market.

To present date, marketing literature in the beer issue approaches its consumption as an economic phenomenon. This paper develops a notion that beer consumption can also be approached in a luxury consumption perspective. The framework developed in this paper can assist future researchers to consider consumption of different types and levels of beer, based on luxury value perception.

This paper aims to analyze how the internationalization process of Brazilian microbreweries takes place, especially in factors of propensity to internationalization, competition and survival in the national and international market.

The authors adopted qualitative approach research, using a multiple case study strategy, analyzing seven Brazilian craft breweries. The authors developed this study through documentary research, semi-structured interviews and nonparticipant observation.

The research findings made it possible to characterize the internationalization process motivated by the background and international experience of entrepreneurs that adopted different strategies for expansion in the international market. The authors noticed that the networks developed in production partnerships, festivals and international missions represent an increase in the ease of internationalization and helps to reduce the risk perception.

The contributions refer to the conjecture that the born global's evolution related to the high competitiveness of the market is influenced by the international background of the founders and by the influence of the international network, overcoming institutional and market challenges in emerging countries, assuming risks associated with rapid and early entry into the international arena.

The paper is potentially useful for managerial practice and policymakers by providing insights into the characteristics of entrepreneurs and companies considering their propensity to internationalize, presenting how entrepreneurs and managers can seek resources and develop their skills and capacities to manage such companies and processes of internationalization.

The research is presented as a complementary study to the limited number of studies examining born globals from emerging markets, also challenging the arguments of the dominant theory regarding gradual and nonlinear internationalization.

In recent years, the craft beer (CB) industry has gained impetus and has experienced significant growth in scientific publications. This study aims to present a systematic review of the literature on CB in areas related to economic and business sciences.

Based on the data from Scopus, Web of Science and a set of articles not indexed to these databases until June 2021, a total of 132 articles were included for analysis, using bibliometric and content analysis techniques.

The study allowed us to identify that CB has four main clusters/themes of research, namely, CB industry and market, marketing and branding, consumer behavior and sustainability. Detailed information on the clusters is provided. In addition, the results showed that publications addressing CB have grown significantly from 2015 onwards and are dispersed across many journals, with none assuming a clear leadership. Quantitative approaches account for more than half of publications.

This study is a useful guide for academics intending to develop studies with CB. It provides a framework to structure future research by identifying existing literature clusters and proposes several research propositions.

The findings from this study are useful for CB companies to get an overview of the main issues affecting the CB industry and market to be able to adapt their strategies and stay aligned with market tendencies in the four main clusters identified.

This is the first systematic review of CB. Therefore, it provides a significant contribution to frame and strengthening the literature on CB and serves as a reference for future research. Based on the content analysis and cluster identification, the findings portray the status of current research. Accordingly, a set of research opportunities are offered.

There is no literature that sought the revision and integration of ecological modernization of theory (EMT) and circular economy (CE). This article aims to answer the questions: How have companies developed circular economy practices within their operations? Why have companies invested in circular economy practices? Based on the answers to these questions, it would be possible to understand how the assumptions of EMT explain the adoption of CE practices.

The research method is based on multiple case studies with Brazilian craft brewery companies.

Companies studied have pursed the adoption of circular economy practices, but the full potential of the use of biological cycles within their processes of production has been hampered by the lack of external policies and clear governance toward circular economy. Thus, pollution prevention policies may be an important driver for organizations be able to advance in circular economy practices.

Research limitations are coverage only of organizations located in an emerging country. A second limitation is that the data saturation was partially achieved in some of the analyzed cases, especially by the limitation of the time period surveyed (transversal research). The longitudinal evaluation is timely for circular economy surveys.

The formulation of a regulatory framework through a participative, interactive and decentralized process, capable of delegating responsibilities and incentives to all entities, to contemplate a tax restructuring for the alcoholic beverage sector, could corroborate to create a new standard of action for the sector.

This document highlights how the principles of ecological modernization can contribute to the advancement of the circular economy. The understanding can help in the design of processes that provide circular and sustainable operations as a social good in a effective value.

The principles from EMT, such as the development of an institutional environment towards corporate environmental proactive, could enhance the adoption of circular economy practices within the brewery sector. Despite of the class association of the brewery sector has supported the companies studied to move forward in other matters, a clear governance is necessary to guide organizations towards circular economy practices.

This paper aims to identify the profiles of beginner and experienced consumers (BCs and ECs) of craft beer and evaluate their perception, knowledge and purchase intention.

A total of 291 craft beer consumers including 148 BCs and 143 ECs participated in the study, which was divided into 2 stages: quantitative research through a questionnaire and conjoint analysis.

BCs are mostly female, with a lower age, income and consumption frequency, presented a shallower understanding of International Bitterness Units (IBU) and considered 7.0% alcohol by volume (ABV) as a high-relative value in craft beers. Otherwise, ECs are mostly men with a higher age and consumption frequency, and they don't consider 50 IBU as high bitterness. The results of conjoint analysis indicate that both groups of consumers attribute greater relative importance to ABV and nonalcoholic beers had lower purchase intentions. Finally, the authors show that beer with 30 IBU and 4.5% ABV is preferred by both BCs and ECs.

The authors' identification about the distinct behaviors of different groups of consumers, based on their consumption time of craft beer, as managerial implications for industries producing craft beer and, as a theoretical contribution, the authors have defined “BCs” and “ECs” based on the experiences with and durations of craft beer consumption.

This study investigates the impact of different transfer pricing rules on tax-induced profit shifting. Existing studies create different enforcement rankings of countries based on specific transfer pricing provisions on the assumption that larger penalties and more extensive information requirements imply higher tax enforcement. This assumption carries limitations related to the impact of transfer pricing rules in different countries and to the interaction of different tax rules. Instead, the authors propose a nonordered segregation of groups of countries with different transfer pricing rules, and they empirically investigate the impact of these transfer pricing rules on the profit-shifting behavior of firms.

The authors apply the hierarchical clustering method to analyze 57 observable quantitative and qualitative characteristics of transfer pricing rules of each country. This approach allows the creation of groups of countries based on a comprehensive set of regulatory characteristics, to investigate evidence of profit shifting for each of these separate groups. Profit-shifting behavior is measured by the variation in the volume of import and export transactions between local firms and related parties located in other countries.

The results indicate that firms have a higher volume of intrafirm transactions with related parties located in countries with a lower tax rate. This result is consistent with the profit-shifting hypothesis. Moreover, the results show that relevant differences in transfer pricing rules across countries produce different effects on the volume of intrafirm transactions. The authors observe that the existence of domestic transfer pricing rules that override the OECD Transfer Pricing Guidelines may inhibit profit shifting. In addition, the results suggest that the OECD guidelines may facilitate profit shifting. Overall, it is observed that some transfer pricing rules may be more effective than others in curbing profit shifting and that firms are still able to manipulate transfer prices under some tax rules.

(1) The authors focus on the Brazilian context, which provides a suitable set of profit-shifting incentives for the analysis, since it combines an extreme corporate tax rate, a highly complex tax system, and a unique set of transfer pricing rules. (2) Profit-shifting behavior is captured by the volume of intrafirm transactions. The authors would prefer to observe the transfer price directly; however, this information is not disclosed by firms, for it may represent a limitation to the investigation. Nonetheless, theory shows that the profit-shifting behavior is reflected by the manipulation of both transfer prices and intra-firm outputs.

The authors find that the volume of intrafirm transactions may decrease or increase, depending on the transfer pricing system of the foreign country (including the tax-differential effect). It suggests that some transfer pricing rules are more effective than others in curtailing the profit-shifting behavior and that firms are still able to find vulnerabilities in current rules and take advantage of them in deploying a profit-shifting strategy.

Results provide knowledge about how key differences on transfer pricing rules across countries influence the profit-shifting behavior. The results of the study may have valuable application in solving regulatory mismatches, to eliminate blind spots in transfer pricing rules and thus to contribute to the current review of OECD guidelines and to the global tax reset movement.

Recent studies suggest that if tax-avoidance incentives are somewhat weak, it becomes difficult to observe the shifting behavior of firms. The puzzle is to check whether profit shifting is nonexistent under weak incentives or whether this is a matter of methodological limitations. The authors’ analysis is applied to a complex tax background with strong profit-shifting incentives; thus, it allows the authors to obtain robust evidences of the shifting behavior and the effect of different transfer pricing rules.