108 anos de tradição em qualidade de educação

ID: 6595

Authors: Revista Brasileira de Gestão de Negócios.

Source: Revista Brasileira de Gestão de Negócios, v. 12, n. 35, p. 137-137, April-June, 2010. 1 page(s).

Document type: Other (Portuguese)

Editorial

ID: 6596

Authors: João Maurício Gama Boaventura.

Source: Revista Brasileira de Gestão de Negócios, v. 12, n. 35, p. 139-140, April-June, 2010. 2 page(s).

Document type: Editorial (Portuguese)

Risk categories disclosed in the administration reports of Brazilian companies with ADRS

ID: 6597

Authors: Vinícius Costa da Silva Zonatto, Ilse Maria Beuren.

Source: Revista Brasileira de Gestão de Negócios, v. 12, n. 35, p. 141-155, April-June, 2010. 15 page(s).

Keyword: Administration reports , Disclosure , Risk categories

Document type: Article (Portuguese) Show Abstract

The study aims to find the categories of risks disclosed in the Administration Reports of Brazilian companies with the issuance of ADR's. The research is characterized as descriptive, accomplished through documentary analysis. The sample includes 28 Brazilian companies with the issuance of American Depositary Receipt (ADR's) in the Stock Exchange of New York (USA). We have tried to identify the categories of risk, presented by the companies surveyed in the Administration Reports (AR) of 2007. Seven categories of corporate risks were considered, identified through COSO (2004) methodology: strategic risks, market risks, credit risks, liquidity risks, operational risks, legal risks and image risks. The survey results show that in general there is no standardization of the types of risks disclosed by the companies. A total of 14 types of risks have been identified. The predominant category in the disclosure was the operational risk, with 20.72% of the observations. There was no disclosure of image risk in the AR of the companies surveyed. It was found that 19 companies, 67.86% of the surveyed companies, demonstrate some kind of risk to which they are exposed. On the other hand, nine companies (32.14%) did not show any kind of risk.

Tobin'S Q and Iron and Steel Companies: a atudy of Brazilian and North-American open companies

ID: 6598

Authors: Igor Vasconcelos Nogueira, Wagner Moura Lamounier, Romualdo Douglas Colauto.

Source: Revista Brasileira de Gestão de Negócios, v. 12, n. 35, p. 156-170, April-June, 2010. 15 page(s).

Keyword: Econometric model , Iron and steel companies , Tobin's q

Document type: Article (Portuguese) Show Abstract

Models for investment evaluation that employ financial measures based on the market such as Tobin's q, are still scarce in the national literature. Therefore, the present work aims to analyze the behavior of Tobin's q for Brazilian and North American iron and steel companies present in the stock market at BOVESPA and NYSE, by presenting an econometric study on some of its key macroeconomic and microeconomic determinants from 1997 to 2005. Tobin's q calculated for selected Brazilian companies revealed to be increasing over the selected period. Regarding Tobin's q for U.S. companies, it was verified that such indicator was less than 1, thus pointing to a disincentive to new investment. The econometric analysis carried out indicated that the economic variables such as interest rate, unemployment rate, and the level of industrial production were influent factors in explaining the behavior of Tobin's q, both for Brazilian and for U.S. companies. We conclude that the indicator captures relevant information from the major macroeconomic and microeconomic determinants of iron and steel companies, enhancing their potential for the financial analysis of this sector.

Brazil'S Cofins Tax: an empirical study of the change in the calculation rules on the profits of companies listed on the Bovespa and its impact on federal tax revenue

ID: 6599

Authors: Fernando Alberto Dutra Fernandes, Arilton Teixeira, Ézio Carlos Silva Baptista.

Source: Revista Brasileira de Gestão de Negócios, v. 12, n. 35, p. 171-190, April-June, 2010. 20 page(s).

Keyword: COFINS , Profits , Tax revenue

Document type: Article (Portuguese) Show Abstract

This article investigates whether the alteration in the rules for calculating the COFINS tax has affected the profits of companies listed on the São Paulo Stock Exchange (BOVESPA), subdivided into 18 economic sectors. We have also studied the effects of this change on the revenue raised by COFINS and on overall federal tax revenues. The study has an explanatory nature and instrumental experimentation is theoretical and empirical, it makes use of regression analysis of time series and panel data with a confidence interval of 95% in the microeconomic level. In order to study macroeconomic we have used regression analysis based on time series data seasonally adjusted. The study is relevant because changes in tax rules can affect the transactions of sectors of the real economy and can be inefficient regarding the allocation of their additional costs. The statistical results show that for 7 of the 18 sectors investigated, the change in the COFINS calculation rules (by which the rate was increased but the tax was made non-cumulative, with offsetting debits and credits) had an effect on firms' profits. The statistical results also reveal there was a real increase in COFINS revenue and total federal tax revenue, indicating the economic inefficiency of this taxation model, unlike what has been stated by economic agents of the federal government.

Analysis of the aircraft's technology as cost determinant in the Brazilian sector of commercial aviation

ID: 6600

Authors: Carlos Alberto Diehl, Genossi Rauch Miotto, Marcos Antonio Souza.

Source: Revista Brasileira de Gestão de Negócios, v. 12, n. 35, p. 191-207, April-June, 2010. 17 page(s).

Keyword: Commercial aviation , Costs determinants , Strategic cost management

Document type: Article (Portuguese) Show Abstract

The objective of this study is to analyze the aircraft's technology as determinant of costs, investigating its effect in Brazilian commercial aviation companies in the period of 1997 to 2005. It comprises the demonstration of the results of a research that presents the strategic management of costs and its contributions for the attainment of competitive advantage of Brazilian companies in the sector of commercial aviation. Of exploratory nature and longitudinal characteristic, it makes use of the documental research for data collection. For presentation and analysis of data descriptive statistic was used. The findings indicate that aircraft's technology as determinant of costs has direct influence in the main costs of the sector: the fuel consumption, the cost of maintenance and depreciation or lease of aircraft. GOL Company has demonstrated success when lining up the aircraft's technology and presented the less costs among the searched companies. TAM Company reorganized its aircraft fleet and reduced significantly its costs. In the case of VASP Company, which works with scrap aircraft, incurred into significantly higher costs than the others companies analyzed.

Quality of Administration courses and higher education institutions in Joinville - SC: a study on factors related to job market awareness of students

ID: 6601

Authors: Emerson Wagner Mainardes, Maria José Carvalho de Souza Domingues.

Source: Revista Brasileira de Gestão de Negócios, v. 12, n. 35, p. 208-223, April-June, 2010. 16 page(s).

Keyword: Graduation in administration , Higher education institutions , Job market , Quality in educational organizations , Universities

Document type: Article (Portuguese) Show Abstract

In a market of competitive higher education as it is the case of Brazil, to possess a quality image has been fundamental to attract and to keep students in a Higher Education Institution (HEI). This study aimed to determine the quality of administration courses and of HEIs that are offered in Joinville, SC, as for aspects related to the job market. For the accomplishment of the study, studies that treat of the quality in educational organizations, meeting 6 attributes that measure the quality of a course and of a HEI as for factors related to the job market were searched. Afterwards, it was conducted a quantitative-descriptive research close to the graduates in two of five HEI that offer the graduation in administration in Joinville, SC. A questionnaire was applied structured not disguised, with closed questions to 292 graduates of these two HEIs. With the collected data, these graduates were characterized and were identified the attributes of better and worse performances as the quality of these courses and HEIs only considering linked attributes to the job market. We have also found the attributes that most contribute to the perception of quality of a course and of an institution in the students' vision, when related to factor linked to the job market. The courses and HEIs have been well evaluated in terms of quality for the labor market, and the reputation of the courses and of HEIs is the attribute of better performance  according to the students.

Print advertising of educational services: an investigation on the impact of the pictures facilities and testimonial about attitudes

ID: 6602

Authors: Eduardo André Teixeira Ayrosa, Marcos Henrique Facó.

Source: Revista Brasileira de Gestão de Negócios, v. 12, n. 35, p. 224-243, April-June, 2010. 20 page(s).

Keyword: Attitudes , Cue paradigm , Educational services advertising , Physical representation and association strategies

Document type: Article (Portuguese) Show Abstract

Just like other services organizations, some higher education institutions have invested in printed advertising to attract applicants. The services management literature suggests that using stimuli such as pictures of the facilities and alumni testimonials may help to turn tangible the offer of services so strongly intangible as higher education. In the present work, the impact of two different types of cue on prospects' attitudes is investigated. The cue paradigm (Olson & Jacoby 1972) has been used to select the two types of cue: intrinsic (facilities pictures), and extrinsic (testimonials). An experiment has been conducted not only to assess the effect of the impact of four levels of presence of cues (absent, only intrinsic, only extrinsic, both) on prospects' attitudes, but also the effect of prospects' involvement level with higher education organizations on each of the four conditions. Results show that although there were no differences detected between the effects of four types of argument about public attitudes, respondents with low involvement in the dimension values/self image has showed more favorable attitudes regarding the (intentions of enrollment) when exposed to testimonials (extrinsic cue).