Search results

This study aims to examine the impact of a mega-sporting event “2014 FIFA World Cup” on hotel pricing strategies and performance.

The present project examines the host regions’ response to the 2014 FIFA World Cup which was established by the variance in the main hotel key performance indexes: occupancy, average daily rate, revenue per available room (RevPAR) and supply. Using data gathered from STR, this research distinctly shows how the Brazilian host regions reacted to the World Cup.

Results suggest that the key performance indicators of Brazil’s lodging sector reacted differently to the World Cup. Although all hosting cities experienced significant RevPAR growth because of the increase in hotel room rates during the event, the supply and occupancy performed differed from each city.

Research is limited to the case of hotel performance at the country level for mega-events. The study focused on the reaction of revenue managers in the Latin America context. Other contexts may generate different results.

The study helps revenue managers to examine how the FIFA World Cup travel demand affected pricing strategies and revenue management practices in the Brazilian hotel sector in areas undergoing seasonal growths in overnight tourism. This study serves to inform hoteliers and practitioners about revenue management pricing strategies to improve hotel performance during mega-sporting events.

This study reveals that the benefits brought by a mega-event are not always translated into strong hotel revenue performance. This study highlights an important but understudied research area of revenue management pricing strategies and the effect of mega-sporting events in the hotel sector. This study contributes to the literature as one of the few investigations to benefit hotel pricing strategies and overall revenue performance.

This study is one of the few studies about exploring the reaction of revenue managers during the execution of a mega-sporting event. The value of the present study lies in the fact that the authors extend previous studies examining the impact of the most important sporting event in the hotel industry at the country-level perspective. This study serves to inform hoteliers and practitioners about revenue management pricing strategies to improve hotel performance during mega-sporting events.

Foreign subsidiaries incur substantial institutional conformity costs because they have to respond to host-country institutional pressures (Slangen & Hennart, 2008). The purpose of this paper is to study this type of cost from institutional and regulatory perspectives. The authors argue that these costs decrease when the host country adopts concepts of international regulations that multinationals may be familiar with due to their own home country regulation experience. This prior regulatory experience gives foreign subsidiaries an advantage of foreignness (AoF), which can offset their liability of foreignness (LoF).

This study compared the returns on assets of 35 domestic firms with those of foreign subsidiaries in the Brazilian energy industry between 2002 and 2021, using regression dynamic panel data.

The existence of a relationship between the international regulatory norm and the Brazilian regulator has transformed the LoF into an advantage of foreignness to compete with local energy firms. The results also suggest that the better the regulatory quality of the subsidiary’s country of origin, the better its performance in Brazil, as it can reduce compliance costs. Finally, the greater the psychic distance between Brazil and the foreign subsidiary’s home country, the worse its performance.

The research suggests that one of the keys to competitiveness in host countries is local regulatory ties. Prior international regulatory experience gives foreign subsidiaries an asset of foreignness (AoF). This result complements the current institutional and regulatory foreignness studies on emerging economies (Cuervo-Cazurra & Genc, 2008; Mallon et al., 2022) and the institutional asymmetry between home and host country (Mallon & Fainshmidt, 2017).

This research suggests that one of the keys to competitiveness in host countries is local regulatory ties. Prior international regulatory experience gives foreign subsidiaries an asset of foreignness (AoF). This result complements the current institutional and regulatory foreignness studies on emerging economies (Cuervo-Cazurra & Genc, 2008; Mallon et al., 2022) and the institutional asymmetry between home and host country (Mallon & Fainshmidt, 2017). The practical implication is that the relationship between conformity costs, capital budget calculation and strategic planning for internationalization will be related to the governance quality of the home country of multinationals. The social implication is that a country interested in attracting more direct foreign investment to areas that need foreign technology transfer and resources may consider adopting international regulatory standards.

The social implication is that a country interested in attracting more direct foreign investment to areas that need foreign technology transfer and resources may consider adopting international regulatory standards.

This research discuss firm and local regulator tie is one of core competitiveness in host countries (Yang and Meyer, 2020). This study also complements the current institutional and regulatory foreignness studies in emerging economy (Cuervo-Cazurra & Genc, 2008; Mallon et al., 2022). Second, prior regulatory experience of multinational enterprise in similar environment can affect its foreign affiliate performance (Perkins, 2014). Third, this study confirms current literature that argues that knowledge and ability to operate in an institutionalized country can be transferred from parent to affiliate. In the end, this study investigates whether AoF persists when host governments improve the governance of their industries.

The purpose of this paper is to analyse the effects of institutional changes on business landscapes and companies performance in Brazil.

The authors have developed a multiple empirical strategy, including qualitative and quantitative methods. As a qualitative method, we used business landscapes to describe how clustered firm performance varies across industries. We collected return on equity (ROE) and equity data from Brazilian listed companies in a 24-years range, and compared three different 8-years institutional periods. As a quantitative method, the authors compared variance across periods and developed a panel analysis assuming fixed and random effects models.

The main results indicate that ROE differences among institutional periods in Brazil are relevant, indicating that there is an important institutional effect on performance and the impacts of those institutional effects may be different across industries. The impact of institutional changes seems to be considerable in understanding industry and firm performance. In addition, the improvement of the institutional framework increases the variance of firm performance around the mean.

The limitations are related to the sample, classification treatment for missing values and outliers.

Managers should consider that institutional settings affect industries in a different manner when developing their strategies.

Despite the fact that the importance of industry, firm and time effects has been empirically examined, there is still an empirical gap concerning if and how institutional changes affect industries and the configuration of business landscapes.

The purpose of this paper is to estimate the impact of racial and low-income quotas on academic performance of students from public and private universities in Brazil.

Using propensity score matching applied to student-level data from the National Examination of Student Performance conducted in 2012; this paper identifies the impact of the quota policy on academic performance considering all Brazilian universities.

The results indicate that there is no statistically significant difference in academic performance between students admitted under the racial quota and those who had the regular admission (non-quota students). The impact is positive, however, for students from the North region of Brazil and among those with very low family income, whereas a negative impact is observed for those from the Central-West region. In regard to the low-income quota, quota students perform worse than eligible non-quota students as their scores are, on average, 14 percent lower. Similar findings are observed when different subsamples are considered.

This paper’s main contribution is to provide a broader and more rigorous empirical approach than that presented by the existing literature in order to evaluate the impact of quota policies on academic achievement. Moreover, this study considers all Brazilian institutions whereas previous studies are limited to only one or a few universities.

The study aims to contribute towards the sustainable development of financial systems, by testing the performance of socially responsible investing alternatives in emerging BRICS countries. The study outcomes give us an insight into viability of responsible financial decisions in contrast with the conventional style of investing.

The authors examine the performance of socially responsible indices of BRICS nations vis-à-vis respective conventional market indices using various risk-adjusted measures and conditional volatility measures. We further segregate the 12-year study period to crisis and non-crisis period particular to the respective country, as well as a common global financial crisis period to analyze the impact of market conditions in BRICS nations and observe the performance using dummy regression analysis. Conditional volatility of the stochastic index series is measured using ARCH-GARCH analysis. Fama Decomposition Model helps rank the index performance through the sub-periods.

Fama Decomposition Model helps us observe that while Brazil secures a position in top rankers consistently, it is India that ranks top during crisis period. With evidence of outperformance in terms of risk-return by SRI indices of BRICS countries through the overall period as well as through different market conditions, our study contributes to the positive literature on socially responsible investing.

The study explores performance of SRI in BRICS and finds evidence of the sustainable investment to be non-penalizing to the investor, even as the performance trend remain distinct in the countries with same level of development. It has implications for the investors and asset managers to include responsible stocks, while for the companies and regulatory bodies to unite for better reporting and disclosures. Given the broad implications, future research is required to link the impact of various cultural, legislative and demographic factors on the level and performance of the socially responsible investment in BRICS nations.

The current study evaluating and comparing performances of the socially responsible investments in BRICS nations puts forth following implications for the different sectors of the society, especially in emerging countries: (1) BRICS organization – The association of five economic giants, having significant influence over global as well as regional affairs, can aim to orient the countries' efforts towards collective sustainable development by designing uniform SRI framework. (2) Investors – In the globalization era, the investor can gain from ethical cross border investments to diversification and country benefits. (3) Companies and regulatory bodies – Only voluntary or mandatory unified efforts, to provide accurate and consistent disclosures, can upscale the mediocre growth trends of sustainable investing in emerging economies. (4) Asset Managers – Call of greater role in educating, warding off inhibitions related to RI.

This is to certify that the research paper submitted by us is an outcome of our independent and original work. We have duly acknowledged all the sources from which the ideas and extracts have been taken. The project is free from any plagiarism and has not been submitted elsewhere for publication.

The purpose of this paper is to contrast three investment choices within the reach of individual investors: naive portfolios of Brazilian stocks; actively managed stock funds; and the Ibovespa index, which represents passive management as well as to offer insights on the performance of professional asset managers in this large emerging market.

Equally weighted portfolios contained between 5 and 30 stocks to keep transaction costs low. Stock selection used the Ibovespa constituents and considered value (dividend yield (DY) and price-to-book ratio), momentum (past returns), and liquidity, as well as the Sharpe ratio (SR) over the 2003-2012 period, rebalancing three times a year.

Cumulative returns of naive portfolios are large. They frequently outperform the index for all values of n. They also outperform stock funds, particularly when the invested amount exceeds US$25,000, due to transaction costs. Yet, expected out-of-sample SRs corrected for errors in estimates are very low, suggesting that one should not count on this historical performance in the future. Naive portfolios may simply be more exposed to additional value, size, and momentum risks. Results are sensitive to time period selection.

Naive portfolios may be attractive to individual investors in Brazil relative to stock funds, which seem to strive to keep volatility low and may be better when the investment amount is low. There may be merit for value or momentum stock selection strategies when forming small equally weighted portfolios.

The paper contrasts realistic stock investing alternatives for individuals, it provides a view of stock fund performance in Brazil, and offers practical implications that may be pertinent in other emerging stock markets.

Contrastar três opções de investimento ao alcance de investidores individuais: carteiras ingênuas de ações brasileiras; fundos de ações de gestão ativa; e o índice Ibovespa, que representa a gestão passiva. Oferecer informações sobre o desempenho de gestores de ativos profissionais neste grande mercado emergente.

As carteiras igualmente ponderadas continham entre 5 e 30 ações para manter os custos de transação baixos. A seleção de ações utilizou os componentes do Ibovespa e considerou o valor (rendimento de dividendos e relação preço/valor patrimonial), momentum (retornos passados) e liquidez, bem como o Índice de Sharpe no período 2003-2012, rebalanceando três vezes ao ano.

Os retornos acumulados de carteiras ingênuas são grandes. Eles frequentemente superam o índice para todos os valores de N. Eles também superam os fundos de ações, particularmente quando o montante investido excede US$ 25,000, devido aos custos de transação. Contudo, os Índices de Sharpe esperados fora de amostra corrigidos por erros nas estimativas são muito baixos, sugerindo que não se deve contar com este desempenho histórico no futuro. As carteiras ingênuas podem simplesmente estar mais expostas a fatores riscos adicionais, tal como os de valor, tamanho e momentum. Os resultados são sensíveis à seleção do período de tempo.

As carteiras ingênuas podem ser atrativas para os investidores individuais no Brasil em relação aos fundos de ações, que parecem se esforçar para manter a volatilidade baixa e podem ser melhores quando o valor do investimento é baixo. Pode haver mérito para estratégias de seleção de ações de valor ou momentum ao formar carteiras igualmente ponderadas pequenas.

O artigo contrasta alternativas realistas de investimento em ações para indivíduos, oferece uma visão do desempenho dos fundos de ações no Brasil e oferece implicações práticas que podem ser pertinentes em outros mercados emergentes.

The purpose of this paper is to look at the origins and development of organized crime in Brazil.

The authors draw on their experience working in law enforcement for many years in Brazil.

The paper outlines the major crimes committed by organized crime in Brazil and the structure of the main organization carrying them out.

The research concentrates on São Paolo and further research needs to be done.

This is the first attempt to put the development of organized crime in Brazil into a historical and developmental context.

The paper describes the purpose of and strategies for conducting post‐occupancy evaluations (POEs) as a method for assessing school building performance. Set within the larger context of global efforts to develop and apply common indicators of school building quality, the authors describe research conducted within the newest generation of São Paulo's schools.

The various methods of POE, including expert walkthroughs, physical measurements, observations, behavioral mapping, user interviews, focus groups, and survey questionnaires were applied within a purposefully selected case study school.

The POE carried out at Fernando Gasparian High School revealed limitations in the building's design, particularly in light of the neighborhood context, thus raising significant concerns about safety and security. Users gave the construction quality of the building, a generally positive evaluation, however, there were some important aspects of the building design judged as deficient. In particular, researchers observed a significant mismatch between the building design and the realities of the surrounding community. This sort of incongruity introduced important challenges to principals, teachers, and staff, as they worked to ensure the safety of students who attend the school.

The research explores the effectiveness of POE methods in capturing user and expert assessments of overall building quality, as well as the degree to which building designs assist educators and community members in realizing Brazil's larger educational reform goals.

This study aims to conduct a literature review on factors that influence the implementation and design of performance measurement systems in nonprofit organizations.

The research strategy is conceived through a literature review focused on the analysis of authorship, supported by bibliometric techniques such as citation, co-citation and co-authorship social networks.

Models and theories proposed for measuring performance in non-profit organizations are being researched, starting to form an intellectual structure related to performance measurement systems and nonprofits. Three main research topics have been given more attention: strategic performance and public service performance, health-care performance and nonprofit operations strategy and performance measurement.

The study is limited to scientific journal papers and could benefit from the addition of new sources of information such as conference papers, books and standards. The body of knowledge of this topic could also benefit from an in-depth investigation through a comprehensive review of models and theories, as a proposal for a future research agenda.

As practical applications are identified, groups of researchers in different countries and subjects that can generate research agendas, scientific communities used to investigate issues related to performance in nonprofit activities.

Performance measurement in nonprofit organizations is a topic of study that has been receiving considerable attention in recent years, to the point that the literature is revealing specific models for measuring performance in this type of organizations. Particular models and theories are being conceived, specializing existing models and theories related to performance measurement and management.

This paper seeks to assess Brazil's growth performance from a long‐term perspective. Brazil's growth performance over the past 25 years has been lackluster, and various hypotheses have been advanced to explain Brazil's disappointing growth record.

In contrast with the existing literature, the paper uses cross‐country and panel estimation techniques to analyze Brazil's growth record, building on the vast empirical literature on growth and its long‐term determinants. It examines the extent to which fundamental factors found to be related to growth in the cross‐section help to explain Brazil's growth performance during 1960‐2000. It also explores the dynamics of growth across time by using panel data models to assess the role of various fundamentals that may have influenced Brazil's growth performance since 1960.

The empirical evidence presented confirms that macroeconomic stability and several reforms have helped raise per capita growth in Brazil since the mid‐1990s. The results also show that some long‐standing structural weaknesses continue to weigh negatively on per capita growth.

Reducing the high level of government consumption would help lower the overall consumption level in the economy and lower its intertemporal price – the real interest rate, thus helping to foster investment and growth.

The paper provides useful information on Brazil's growth performance from a long‐term perspective.