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A trend toward higher quality has demanded more strategic investments in the transaction of coffee supply in Brazil. Instead of internalizing this transaction, one firm…
A trend toward higher quality has demanded more strategic investments in the transaction of coffee supply in Brazil. Instead of internalizing this transaction, one firm, illycaffè, has challenged the vertical integration assumption by adopting contracts to coordinate its supply. Aiming to investigate whether this firm is losing economic efficiency in terms of coordination, or whether it is being efficient due to a proper definition and allocation of property and decision rights, the purpose of this paper is to analyze the transaction attributes of illycaffè’s suppliers according to the vertical integration dilemma.
The research design is based on a survey of 105 coffee growers analyzed through probit regression. Using a transaction costs approach, the study empirically tests whether well-designed contracts can act as a hierarchy by following the efficient alignment hypothesis.
The results emphasize asset specificity, uncertainty and incentives as determinants for being an illycaffè supplier. In other words, these findings demonstrate that a well-designed contract can substitute a hierarchy based on transaction costs economics. It contributes by illustrating other coordination alternatives overlapping vertical integration, even in environments of high uncertainty and asset specificity, which encourages other private strategies based on allocation of property and decision rights of hybrid arrangements.
The study adopts a unique survey about transaction costs in the transactions of high-quality coffee supply in Brazil. The main contribution is to shed light on the cases where, how and why contracts can substitute the need for in-house production, and to guide private and public strategies using this background.
The purpose of this paper is to discuss the impacts of the investment programs created by the Brazilian federal government on private investment in transportation…
The purpose of this paper is to discuss the impacts of the investment programs created by the Brazilian federal government on private investment in transportation infrastructure (crowding-in effect).
The study used two quantitative techniques of data analysis: cluster analysis and panel data analysis.
The results show that the investment programs created by the Brazilian federal government were successful in attracting private agents to invest in transportation infrastructure in the country. This effect is observed even in the cases of programs focused on public investments.
Advancing the research area that seeks to assess the impact of public policies is the main practical and social implications of the papers. As a research limitation we can highlight that need for a comparison to other country investment’s public policies.
Performance of public policies.
The paper discusses the effects of the Brazilian Federal Government programs for infrastructure investment in the private investment in the country (investment in transportation infrastructure). The issue is relevant for policies makers.
The purpose of this paper is to analyze the factors, including behavior, that impact the knowledge and use of futures contracts among Brazilian coffee producers. The…
The purpose of this paper is to analyze the factors, including behavior, that impact the knowledge and use of futures contracts among Brazilian coffee producers. The results are based on primary data obtained from a sample of 244 farmers.
A multinomial logistic regression model is adjusted to analyze the determinants of the producers’ choices.
The results show that behavioral variables play an important role in the decision to use futures contracts: risk propensity, self‐confidence in management, and the level of market monitoring. Variables such as education and crop size also factor into this decision.
A limitation of this study is that the analysis of farmers’ decisions and behavior was limited to one year. Future research which examines a more comprehensive group of producers over a longer period can reveal in more detail the determining factors for the use of futures contracts as a price risk management tool in the coffee market.
The paper is the first to interview Brazilian coffee producers about their hedging decisions on a large scale. The main contributions this paper makes to the literature are the inclusion of behavioral variables in its analysis that will prove valuable in both future research and in the investment industry.
Este trabalho avalia os principais fatores, incluindo aspectos relativos ao comportamento, que interferem no conhecimento e respectivo uso de contratos futuros entre produtores de café no Brasil. Os resultados baseiam‐se em dados primários obtidos de uma amostra de 244 agricultores das principais regiões produtores de café no Brasil. Um modelo de regressão logística multinomial é ajustado para analisar os determinantes das múltiplas escolhas dos produtores. Entre os principais resultados do trabalho, destaca‐se o fato de as variáveis comportamentais cumprirem um importante papel na determinação da decisão do uso de contratos futuros, em especial a propensão ao risco, o grau de confiança na gestão e grau de acompanhamento do mercado. Além disso, variáveis como escolaridade do produtor e tamanho da produção se mostraram significativas.
The purpose of this paper shows and analyzes recent changes undergone by the Brazilian ethanol industry, comparing two specific years (2000 and 2012) to evaluate the…
The purpose of this paper shows and analyzes recent changes undergone by the Brazilian ethanol industry, comparing two specific years (2000 and 2012) to evaluate the performance of governance structures adopted by fuel distributors in the resale of ethanol in Brazil in this period.
In this work, the analysis is restricted to the ethanol trade, using survey data from Soares (2012), who mapped the governance structures in the sector and its control mechanisms. Next, a temporal analysis of governance structures in 2000 and 2012 is conducted to identify recent changes in the transactions between distributors and stations.
The paper concludes that there has been a significant change in the ethanol negotiation models, highlighting the contractual hybrid governances of large distributors, such as which governance structure presented more robust results in terms of gaining market share and increasing average sales per unit of fuel resold in the period analyzed.
This paper is a review of innovative organizational dynamics distributor sector of ethanol in Brazil after deregulation in the late nineties and after the insertion of hybrid vehicles in the domestic market in 2003 (automobiles powered by gasoline and ethanol). The paper makes a comparison of the strategies of firms between the years 2000 and 2012 bring important explanations for the functioning of this market and righligths the advantages and limitations of the public regulatory model chosen by the Brazilian government.