Antonio Lopo Martinez and Bruno Afonso Ferreira
The purpose of this paper is to analyse the relationships between company business strategy type and tax aggressiveness for companies listed on the Brazilian Bovespa stock…
Abstract
Purpose
The purpose of this paper is to analyse the relationships between company business strategy type and tax aggressiveness for companies listed on the Brazilian Bovespa stock exchange.
Design/methodology/approach
Following the concepts of Miles and Snow (1978, 2003), we classified company strategies into four types, analyser, defender, prospector and reactor, using data from 2012 to 2016. The authors excluded financial companies due to a differential tax regime. Next, prospector and defender companies were identified, and the relationship of these strategies with tax aggressiveness assessed using regression analysis; analyser and reactor types were not included as these are defined as a combination of the prospector and defender type, or non-strategic, respectively. To assess aggressiveness, the authors used effective tax rates on corporate profits, as well as a metric that captures tax burden in terms of all taxes paid by a company.
Findings
Most Brazilian companies were analysers (76.66 per cent), with prospector companies being a minority, and defenders representing a little over 21 per cent. Unlike the findings of Higgins et al. (2015), the authors found that defender companies also have a tendency to practice aggressive tax planning.
Practical implications
The authors found the Brazilian defender companies similar to prospectors, tended to be more tax aggressive or to take higher tax risks. Thus, findings in economies such as the USA may not be generalizable to other countries, such as Brazil, Russia, India or China (i.e. the BRICs), for example. The particularities of each country, such as ease of access to the capital market, tax deductibility of investment in research and development and legal issues must be considered before applying generalized prognostics.
Originality/value
This paper offers original empirical evidence from Brazil of the relationship between company strategy type and the tax aggressiveness, offering a clear result that differs in part from results from American companies. It therefore encourages further studies on this topic.
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Marina Cabral Rebouças, Maria do Carmo Passos Rodrigues, Silvia Maria de Freitas, Bruno Burnier Arcanjo Ferreira and Vanderson da Silva Costa
The number of researches that evaluate how behavioural and personality issues affect consumers’ acceptance and perception of food is increasing. Thus, this study aimed to evaluate…
Abstract
Purpose
The number of researches that evaluate how behavioural and personality issues affect consumers’ acceptance and perception of food is increasing. Thus, this study aimed to evaluate the effect of nutritional information and health claims related to soya and cashew nut beverages over consumers’ acceptance and perception regarding nutritional value and healthiness and to verify whether behavioural and personality issues affect such evaluation.
Design/methodology/approach
The samples were evaluated in two phases, with (blind phase) and without information (informed phase) about their composition, nutritional characteristics and functional claims related to some of their ingredients. The sensory evaluation data were analysed by means of the analysis of variance for repeated measures, applying 2 (information) × 2 (beverage) and generalised linear model to evaluate the effect of information over the acceptance averages, as well as over the perception of healthy food and nutritional value.
Findings
Information on composition, nutritional characteristics and functional claims related to the cashew nut and soya beverages did not influence flavour acceptance (p-value = 0.250) and overall impression (p-value = 0.316), but had a positive impact on consumers’ perception regarding healthiness (p-value < 0.001) and nutritious value (p-value < 0.001) of both beverages, the cashew nut beverage being perceived as more nutritious and healthier than the soya beverage. Consumers’ different characteristics with respect to their interest in healthy eating (high and low) and food neophobia (neophiliacs and neophobics) did not have any influence on the beverages’ acceptance, as well as on the perception of healthy food and nutritious value.
Originality/value
This work compares consumers’ acceptance and perception regarding nutritional value and healthiness with relation a totally unique product in the Brazilian market, and in the world, a new functional beverage made from cashew nuts, with a soya-milk beverage. Until this moment, there are no studies comparing consumer acceptance and perception of products based on hydrosoluble extract-base added with fruit juice which evaluate the influence of behavioural and personality characteristics of consumers in their perception and acceptance towards these products.
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Jéssica Miranda Ferreira, Bruno Barbosa Sousa and Francisco Barbosa Gonçalves
This study aims to understand the development of Barcelos tourist destination, analyzing the progress of technology in local handcrafts. eTourism is a development alternative for…
Abstract
This study aims to understand the development of Barcelos tourist destination, analyzing the progress of technology in local handcrafts. eTourism is a development alternative for many localities. These alternatives, when they have integrated tourist products and a defined geographical area, form a tourist destination. Focusing on tourism and its evolution, concepts and successes are investigated in the tourist market of Barcelos, proving the increase in the local economy. Before a qualitative study and through the direct observation and semi-structured interviews to some regional handcraftsmen, the forms of the innovation of the technology in the tourism of Barcelos are analyzed and what their contribution to the increase in the tourism in this territory. The study shows that, in this tourist destination, the development of handcrafts had a great social and economic impact, developing the offer and standing out in front of the tourist market. The study also concludes that the new Information and Communication Technologies’ (ICTs’) tools promote new skills, which consequently provide new opportunities as well as great challenges for all users. In the Barcelos handcraft, ICTs will revolutionize the promotion of this tourism offer, through the innovation of networks and the Internet, with all stakeholders, sharing information and knowledge of Barcelos products and services, thus increasing their fluency in tourism demand and developing the market in order to create a greater economic impact on the destination.
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Bruno S. Ferreira, Duarte B. Morais, Gene L. Brothers, Craig Brookins and Susan Jakes
Permatourism is a holistic approach to the study and design of equitable tourism development strategies, which leverages adaptive complex systems thinking and permaculture design…
Abstract
Permatourism is a holistic approach to the study and design of equitable tourism development strategies, which leverages adaptive complex systems thinking and permaculture design principles. Permatourism advocates for the symbiosis between the formal and informal sectors of the tourism system, through creating and nurturing meaningful, functional relations among multiple actors. The formal tourism sector must embrace the sociocultural characteristics of the host community and grassroots business development strategies must be pursued to align local microentrepreneurs with expected business opportunities generated by big tourism investments. This chapter provides an overview of the conceptual foundation of this new approach as well as examples illustrating its pertinence to destination stewardship.
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Victoria Patterson, Duarte B. Morais and Bruno S. Ferreira
Farmers are increasingly diversifying their agribusinesses to adapt to new market opportunities, and for many, this has meant offering farm experiences to tourists. The purpose of…
Abstract
Farmers are increasingly diversifying their agribusinesses to adapt to new market opportunities, and for many, this has meant offering farm experiences to tourists. The purpose of this study was to examine the motivations and constraints of farm tourism microentrepreneurs in North Carolina, USA. Results from thematic analysis of interviews with 15 farmers suggest that microentrepreneurs are motivated by the flexibility to structure their time and to be outside. Farmers indicated that they are devoted to sharing their farming heritage and educate tourists about their work and community ethic. Microentrepreneurial success was defined as the ability to continue to hold on to farmland and barriers included illness, aging, and lack of support from public agencies.
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Duarte B. Morais, Bruno S. Ferreira, Shahab Nazariadli and Ladan Ghahramani
Rural subaltern people are generally relegated to the role of passive tourees, allowed to informally glean bits of income not worthwhile to the formal tourism industry. However…
Abstract
Rural subaltern people are generally relegated to the role of passive tourees, allowed to informally glean bits of income not worthwhile to the formal tourism industry. However, under some circumstances, microentrepreneurs find ways to take advantage of opportunities afforded by tourism to improve their livelihoods and gain human agency. The People-First Tourism Lab employs a participatory action research methodology to investigate tourism microentrepreneurship and its effect on participating individuals and communities. In this chapter, the authors provide a background of the project implemented in the State of North Carolina, USA, explain the research methodology, and outline current and forthcoming efforts.
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João Amaro de Matos, Rui Dilão and Bruno Ferreira
The purpose of this paper is to present an arbitrarily accurate approximation for the value of European options written on a Black‐Scholes stock paying a discrete dividend.
Abstract
Purpose
The purpose of this paper is to present an arbitrarily accurate approximation for the value of European options written on a Black‐Scholes stock paying a discrete dividend.
Design/methodology/approach
The proposed method is a computational method for the analytical solution of the problem.
Findings
It was found that the proposed method is computationally faster than any other exact computational available method, including Monte‐Carlo simulations.
Research limitations/implications
The method is applied for a single dividend payment, but can be extended for several payments. The exact amount of the dividend must be known ex‐ante, as well as the precise date of payment.
Practical implications
The paper provides the most efficient way to compute with absolute precision the value of European options on dividend‐paying assets, under the Black‐Scholes assumption.
Originality/value
The computing time in the approach is several orders of magnitude faster than with traditional Monte Carlo methods, for the same desired accuracy.
Ellysson Fernandes Rosa, Estela Najberg and Marcos de Moraes Sousa
The need to improve the efficiency and quality of public services has increased the interest in innovation. This study seeks to understand the relationship between the Public…
Abstract
Purpose
The need to improve the efficiency and quality of public services has increased the interest in innovation. This study seeks to understand the relationship between the Public Service Motivation (PSM) index and the profile of strategic-level public servants who are considered innovative.
Design/methodolog/approach
Questionnaires were applied to the group of government managers who registered their projects in an innovation competition. Data were analyzed using t-test, multiple correspondence analysis (MCA) and hierarchical cluster analysis (HCA).
Findings
This paper concluded that the PSM level of these innovative public servants is significantly greater than public servants overall. In terms of the profile of these innovative government managers, it was found that the majority were female, with a high level of education and a background in Information Technology.
Practical implications
The discovery that innovative government managers have a significantly higher PSM (p < 0.05) than public servants overall may be relevant, because it confirms a statistical tendency that it would be advantageous for policy-makers to invest in actions that increase public servant PSM since these servants with high PSM are more innovative.
Originality/value
This article has sought to fill a gap in studies that associate the level of PSM with the innovation practices in the public sector, as well as verify the profile of public servants with high levels of motivation in public service (PSM).