Barbara de Lima Voss, David Bernard Carter and Bruno Meirelles Salotti
We present a critical literature review debating Brazilian research on social and environmental accounting (SEA). The aim of this study is to understand the role of politics in…
Abstract
We present a critical literature review debating Brazilian research on social and environmental accounting (SEA). The aim of this study is to understand the role of politics in the construction of hegemonies in SEA research in Brazil. In particular, we examine the role of hegemony in relation to the co-option of SEA literature and sustainability in the Brazilian context by the logic of development for economic growth in emerging economies. The methodological approach adopts a post-structural perspective that reflects Laclau and Mouffe’s discourse theory. The study employs a hermeneutical, rhetorical approach to understand and classify 352 Brazilian research articles on SEA. We employ Brown and Fraser’s (2006) categorizations of SEA literature to help in our analysis: the business case, the stakeholder–accountability approach, and the critical case. We argue that the business case is prominent in Brazilian studies. Second-stage analysis suggests that the major themes under discussion include measurement, consulting, and descriptive approach. We argue that these themes illustrate the degree of influence of the hegemonic politics relevant to emerging economics, as these themes predominantly concern economic growth and a capitalist context. This paper discusses trends and practices in the Brazilian literature on SEA and argues that the focus means that SEA avoids critical debates of the role of capitalist logics in an emerging economy concerning sustainability. We urge the Brazilian academy to understand the implications of its reifying agenda and engage, counter-hegemonically, in a social and political agenda beyond the hegemonic support of a particular set of capitalist interests.
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Augusto Ferreira da Costa Neto, Marcelo Cabus Klotzle and Antonio Carlos Figueiredo Pinto
The purpose of this paper is to present the results of a study on investor behavior in exchange-traded fund (ETF) markets. The standard feedback trading model of Sentana and…
Abstract
Purpose
The purpose of this paper is to present the results of a study on investor behavior in exchange-traded fund (ETF) markets. The standard feedback trading model of Sentana and Wadhwani (1992) is used in a sample of 18 ETFs contracts in Brazil, China, South Africa, Korea, Mexico and India, as well as three ETFs contracts in the US market.
Design/methodology/approach
The sample includes data on daily closing prices and net asset values (NAVs) for three ETFs from each of the emerging markets of Brazil, China, Mexico, Korea and India, as well as on three ETFs from the US market. The authors used the earliest start date available in the Thomson Reuters database pertaining to all of the ETFs, and all series ended on May 5, 2017, and applied the well-established Santana and Wadhwani (1992) seminal model to evaluate evidence of feedback trading in the sample.
Findings
The empirical analysis suggests that there is evidence of feedback trading in emerging markets such as Brazil, Korea, Mexico and India, while there is no such evidence for the US market. The results are consistent with the view that developed markets investors are prone to pursue fundamental-driven investment strategies, while emerging markets investors appear to have informational guided behavior.
Research limitations/implications
Emerging markets still make up a very small part of the global ETF market, led by the USA. Nevertheless, it is extremely important that studies of this nature be gradually expanded as these markets grow, in order to verify how emerging markets compare to their developed counterparts in terms of the efficiency of information sharing and rationalization of its operations.
Practical implications
Emerging markets policy makers could benefit from these findings by stimulating new mechanisms that could minimize informational asymmetry and the persistence of so-called noise traders, a phenomenon observed recently in studies regarding ETF markets (Brown, Davies and Ringgenberg, 2018).
Originality/value
The behavior of investors was investigated by analyzing a sample of 18 ETFs from the emerging markets of Brazil, China, South Africa, Korea, India and Mexico, as well as three ETFs from the US market. Despite of being investigated separately both emerging (Charteris et al., 2014) and developed markets (Chau et al., 2011), the innovation consists in comparing those markets in a single study, pursuing to explain potential reasons for the differences observed between developed and emerging markets.
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John Baldwin, Phillip Chidester and Laura Robinson
This research makes a fresh contribution by exploring an understudied aspect of the Tropicália movement: visual performance. After offering a historical overview, we examine the…
Abstract
This research makes a fresh contribution by exploring an understudied aspect of the Tropicália movement: visual performance. After offering a historical overview, we examine the movement’s communicative legacy. We contend that, in addition to song’s lyrics and musical symbols, it is vital to consider a third dimension: visual performance.
The addition of the visual allows for a more fundamental understanding of the many complex meanings that the Tropicalistas constructed in their resistance to political oppression, as well as broader cultural mores and expectations.
Our examination of archival performance videos reveals that Tropicalistas employed modes of dress and a specific, intentional orientation toward their listeners as particularly powerful tools of expression. Revealing these two dimensions of Tropicália performance allows us to better understand the importance of performance as a key element of resistance. The Tropicália movement’s performative reconfigurations of self and other became a vital channel through which the Tropicalistas manage to speak truth to power to challenge the oppressive military regime and question assumptions about Brazilian national identity.
Exploring the role of performance as part of the overall meaning of musical expression opens up new vistas of understanding. While relevant to Tropicália as a pivotal and wholly Brazilian artistic movement, the contributions of this study have implications beyond this particular setting. The analytical approach reveals how artistic movements can serve as both the substance and the expression of national being.
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Jeovan de Carvalho Figueiredo, Luiz Carlos Di Serio, Jislaine de Fátima Guilhermino, Wladimir Augusto César de Morais and Vera Lucia Neto
Most research and development (R&D) activities in Brazil are performed by science and technology institutions (STIs). The purpose of this research was to determine whether…
Abstract
Purpose
Most research and development (R&D) activities in Brazil are performed by science and technology institutions (STIs). The purpose of this research was to determine whether environmentally sound technologies (ESTs) developed by these organizations were transferred to companies, either through cooperation during research or through mechanisms such as licensing agreements or spin-offs.
Design/methodology/approach
In total, 1,939 research groups and 702 patent registers, identified from the same set of words related to ESTs, using semantic search in open-access databases, covering a period from 2005 to 2014, were examined. The two data sets (patents and research groups) were overlaid, and it was possible to associate inventors’ names with researchers’ names.
Findings
The results showed that only six patents could be related to the 1,939 identified research groups. Of the six patents, only one was the object of a licensing agreement, and no spin-off was identified.
Practical implications
This study evidenced that it is necessary to expand the mechanisms of knowledge transfer, directed not only from STIs to companies but also in the opposite direction, given that companies recognize potential market opportunities.
Originality/value
This study shows that improvements in the Brazilian National Innovation System are necessary, as ESTs research groups demonstrated a weak association with technologies transferred to companies, with only one case of technology transfer in the form of a licensing agreement.