Editorial

ID: 7188

Authors: Revista Alcance.

Source: Revista Alcance, v. 19, n. 1, p. 5-6, January-March, 2012. 2 page(s).

Document type: Editorial (Portuguese)

Study of herding behavior indices in brazilian stock mutual funds

ID: 7189

Authors: Bruno Lopau Zulian, Herbert Kimura, Leonardo Fernando Cruz Basso.

Source: Revista Alcance, v. 19, n. 1, p. 7-23, January-March, 2012. 17 page(s).

Keyword: Herding behavior , Market effi ciency , Stock mutual funds

Document type: Article (Portuguese) Show Abstract

The objective of this paper is to investigate herding behavior in Brazilian stock mutual funds. Through a study of the 100 largest funds in the category, between September 2004 and July 2008, two herding indices are analyzed: (i) the H index, proposed by Lakonishok, Shleifer and Vishny (1992) and the H2 index, which is a new method, introduced by Frey, Herbst and Walter (2007). The results of the research suggest the existence of herding behavior in Brazilian stock mutual funds, with similar intensity to those of the North American, British and German markets.

Corporate social responsibility and marketing: reflections on attitude and loyalty among consumers of supermarkets in São Paulo/SP

ID: 7190

Authors: Edward Robinson Marin, Sérgio Luiz do Amaral Moretti.

Source: Revista Alcance, v. 19, n. 1, p. 24-34, January-March, 2012. 11 page(s).

Keyword: Consumer Loyalty , Corporate Social Responsibility , Marketing Strategy

Document type: Article (Portuguese) Show Abstract

Consumers have shown increasing levels of sensitivity to the social and environmental practices by companies. Seeking to contribute to this fi eld of study, the research objective was to assess consumer reactions to marketing based on Corporate Social Responsibility – CRS, assessing the degree of loyalty and consumer attitudes to these initiatives. A survey was mainly applied to a database of eight thousand addresses of subscribers to magazines of the publisher Editora Abril, all of whom were consumers of supermarkets in São Paulo. The results showed that the composition of CRS actions, grouped under the factors ethics and awareness, are the most important and appear to have caused a strong effect on the sample. These assumptions may indicate to businessmen that the strongest strategic actions in this area can bring better results with their target publics.

Evaluation of perceived importance and reward attributed by consumers to companies that practice socio-environmental responsibility

ID: 7191

Authors: Luciana Flores Battistella, Aline Nadalin Velter, Marcia Zampieri Grohmann, Vânia Medianeira Flores Costa.

Source: Revista Alcance, v. 19, n. 1, p. 35-51, January-March, 2012. 17 page(s).

Keyword: Importance , Reward , Social responsibility

Document type: Article (Portuguese) Show Abstract

The concern over environmental issues is leading companies to become involved in programs of this type. However, consumers’ views on these efforts are still not clear, and the results of some studies (CREYER; ROSS, 1997; BROWN; DACIN, 1997; GARCIA; SILVA; FEREIRA; ROSSI; BAZANINI, 2008) are contradictory. This paper therefore seeks to determine the relationship between the importance attributed by the consumer to socioenvironmental organizational behavior, and consumers’ propensity to reward such behavior. The study sample consisted of 166 Business Administration students, and the model of Garcia et al (2008) was used. Through multiple regression analyses, it was found that the model fi t is satisfactory (RMSE – 0.0086; χ²/gl – 2.21; GFI – 0.857; CFI – 0.904; NFI – 0.839) and the causal relationship between importance and reward is 98%. Comparing these results with the original model (Garcia, et al, 2008), it was observed that the reliabilities of the constructions as causal factors were higher in this study, demonstrating that environmentally responsible behavior is rewarded by consumers.

Does the three-factor model of fama and french still explain brazilian stock market returns?

ID: 7192

Authors: Ana Cristina Rocha Wardini Rayes, Gustavo Silva Araújo, Claudio Henrique da Silveira Barbedo.

Source: Revista Alcance, v. 19, n. 1, p. 52-61, January-March, 2012. 10 page(s).

Keyword: Book to Market Effect , Fama and French Model , Size Effect

Document type: Article (Portuguese) Show Abstract

Fama and French (1993) verifi ed that the asset returns of the U.S. economy can be explained by factors linked to characteristics of companies. The Brazilian literature on the subject corroborates this claim. Our work examines whether the Fama-French model, applied to investment portfolios with variable weightings, still explains the returns, in view of the structural break in the Brazilian stock market in terms of its liquidity. We used the most liquid stocks, both individually and in portfolios. We found that the factors ‘size’ and ‘book-to-market’ no longer explain the returns on the Brazilian stock market.

The theoretical contributions of social network analysis (SNA) to organizational studies

ID: 7193

Authors: Claudio Zancan, Paulo da Cruz Freire dos Santos, Vanessa Oliveira Campos.

Source: Revista Alcance, v. 19, n. 1, p. 62-82, January-March, 2012. 21 page(s).

Keyword: Organizational Studies and Theoretical Contribution , Social Network Analysis (SNA)

Document type: Article (Portuguese) Show Abstract

The fi rst evidence in the literature on the subject of social network analysis (SNA) dates back to the 1920s, with studies in the area of social psychology. Since then, researchers from various fi elds of knowledge have contributed to the development of this approach, which assumes great importance in the organizational fi eld. This article assesses the theoretical contributions to organizational studies from studies that use SNA, using the criteria of falsifi ability and usefulness. For a fi eld of study to evolve, solid foundations are necessary. The contribution of this study is that it gives an overview of the applications of SNA to organizational studies, seeking to build more robust theories on the subject. It concludes that despite its widespread use, the method presents only partial theoretical contributions, both in the criterion of falsifi ability and in the criterion of usefulness, but does not contribute as much to building theory in the area. Such studies are concerned more with the appearance of  validation of measures found than with their usefulness.

Causal factors of students’ continued attendance at a higher education institution: a confirmatory model

ID: 7194

Authors: Jucélia Appio Tibola, Liliane Canopf, Gerson Tontini, José Roberto Frega.

Source: Revista Alcance, v. 19, n. 1, p. 83-100, January-March, 2012. 18 page(s).

Keyword: Higher Education Institution , Stay , Structural Equation Modeling

Document type: Article (Portuguese) Show Abstract

The aim of this study is to identify the factors infl uencing students’ continued attendance on undergraduate courses of a Higher Education Institution (HEI) in the State of Santa Catarina. It proposes to test a theoretical model of possible determinants of student attendance in HEI. This quantitative study was carried out in the fi rst semester of 2009. The group studied consisted of 415 students. The sample was selected by convenience, and included all the students who were present on the day of application. The results showed that the students were mainly female, unmarried, with an average age of 21. The method of data analysis was Structural Equation Modeling (SEM). Of the factors tested, Students’ Commitment to their Personal Goals, Satisfaction with the HEI and Favorable Financial Situation, in that order, were the main factors that led to students’ continued attendance in university. These three variables, accompanied by their connections, explained 61.2% of continued attendance in university. It was found that Perceived Learning, Access to Infrastructure and Attitude of the Coordination and the Teachers are directly related to attendance. Suggestions are presented at the end of this work.

SELF-SERVICE TECHNOLOGIES: SATISFACTION AND FUTURE BEHAVIOR OF USERS

ID: 7195

Authors: Kleber Fossati Figueiredo, Gabriela Goulart dos Santos, Teresa Cristina Janes Carneiro, Claudia Affonso Silva Araújo.

Source: Revista Alcance, v. 19, n. 1, p. 101-118, January-March, 2012. 18 page(s).

Keyword: Consumer Behavior , Customer Satisfaction , Self-service Technology , Service Encounters

Document type: Article (Portuguese) Show Abstract

This study aimed to identify the determining factors of satisfaction and dissatisfaction among consumers who use self-service technology, and to relate satisfaction to future consumer behavior in regard to complaints, word-of-mouth, subsequent use of the service and attribution of the results of the interactions. Sampling was set by convenience and consisted of a group of undergraduate and graduate students from a university in Rio de Janeiro who were self-service technology users and had experienced at least one critical incident involving the use of these technologies. Analysis of the results obtained from 234 valid questionnaires indicated a signifi cant relationship between satisfaction/dissatisfaction of self-service technology consumers, both in terms of willingness to complain and attribution of the results of the interactions. It was found that there was no signifi cant relationship between satisfaction/dissatisfaction and the nature of word-of-mouth (positive/negative). It was also found that satisfi ed clients are more likely to use the service again.

Recanto da Natureza Guesthouse: green entrepreneurialism for a sustainable future

ID: 7196

Authors: Camila Vial Fedozzi, Fabiana Maria Rizzo, Mariane Friedrich Wendler, Renata Milena Bortolin, Anete Alberton.

Source: Revista Alcance, v. 19, n. 1, p. 119-137, January-March, 2012. 19 page(s).

Keyword: Environmental Management , Environmental Systems , Sustainability

Document type: Teaching Case (Portuguese) Show Abstract

This case study focuses on a guesthouse, the Recanto da Natureza, situated at Bombas Beach, in the municipality of Bombinhas, on the Santa Catarina coast. The guesthouse was idea of two visionary entrepreneurs, Manoel and Joaquim, two brothers who are concerned about the environment. They carried out sustainable actions, from the construction of the guesthouse through to the implementation of routine practices of sustainability in the environmental, social and economic dimensions. This study presents the sources of information that the owners used as the bases for the implementation of their actions, as well as the diffi culties encountered, the results indicators, the unsuccessful initiatives, and the solutions applied. The owners plan and invest in constant improvements, and look for new sustainable actions that can contribute to the existing management. They intend to reinforce the image of the company with actions of  environmental awareness, with certifi cation as an environmental friendly company. This case study demonstrates that small companies can be sustainable, and shows how to carry out some actions, and the possible benefi ts and diffi culties to accomplishing them.