Abstract Purpose To identify the relationship between characteristics of the board of directors and the probability of dissemination of social responsibility reports. Theoretical framework Considering the central role of the board of directors in mitigating conflicts of interest, the study is based on the stakeholder-agency theory. Design/methodology/approach The sample included 250 companies listed on the Brazilian Stock Exchange (B3). The data used were collected in the “Relate or Explain” Report, Economática®, and CVM Reference Form, and then operationalized using a binary logistic regression model. Findings The results suggest that the probability of dissemination of social responsibility reports is 1.52% higher for companies with more concentrated shares, 101.10% higher for larger companies, and 59.2% lower for companies with dual positions. Practical & social implications of research The findings may be useful for (i) guiding organizational strategies for board composition that improve the dissemination of social responsibility reporting, (ii) fostering discussions about changes in the classification of levels of corporate governance in the B3, and (iii) multi-stakeholder decision making. Originality/value For the accounting academia, the study promotes an additional debate on the role of the board of directors in dealing with the agency problem. The study is innovative in showing how the characteristics of the board of directors can change the potential for dissemination of social responsibility reports.

Abstract Purpose The aim of this study is to analyze how levels of political skill and work engagement vary among managers of different hierarchical levels in the scenario studied. Theoretical framework This research is based on the existing literature on leadership and is aligned with recent studies focusing on politics and engagement within work environments. Methodology Changes in the study variables, their effects and relationships were verified by multivariate analysis of variance in a sample (n=308) of professionals from three segments of the Brazilian private sector. The measurement instrument for political skill was adapted and validated for Portuguese. Findings Hierarchical level affects the linear interaction between engagement and political skill, but in the scenario studied, politics played a greater role in this dynamic. The results suggest that engagement in work is a consistent attribute for managers regardless of their managerial position, while political skill within the organization progressively increases with each advancement in hierarchical level. Practical & social implications of research It is expected that leadership development programs will take into account the importance of political skill in their actions and planning, particularly for activities where the need for negotiation, influence, and networking is crucial. The study suggests that the integration of engagement and political skill emerges as an opportunity to be explored in the pursuit of hierarchical advancement. Originality/value The findings expand current knowledge about the relationships among the constructs in the study by presenting evidence of their intrinsic interactions with the hierarchical position of managers. Complementarily, the study contributes a short version of the Political Skills Inventory, methodologically validated for Brazil.

Abstract Purpose To analyze the configurations of legitimacy, dynamic capabilities, and business resources consistent with the survival of post-incubated companies. Theoretical framework “Liability of newness” highlights that nascent companies suffer from factors that hinder their survival. However, business incubators help to develop nascent businesses. This paper seeks to show how different configurations between legitimacy, dynamic capabilities, and resources can form a strategic orientation for survival. Design/methodology/approach The strategy of multiple case studies was applied to 90 companies and the techniques of fuzzy set qualitative comparative analysis (fsQCA) were used. Findings The results present two configurations of technology-based companies with high perceptions of legitimacy, resources, and dynamic capabilities that differ by size and satisfaction. A third configuration of technology-based companies has high perceptions of legitimacy and resources. A fourth configuration involves technology-based companies with high perceptions of legitimacy, a larger size, and satisfaction with the incubator. Practical & social implications of research For managers, the results make it possible to create an incubation environment that is able to identify and fill the individual gaps of the enterprises. In addition, they indicate that business incubator managers and/or funders should focus their efforts on the incubation of technology-based companies. Originality/value The first is to reinforce the central role of legitimacy for survival. The second is to show that the interrelationship between legitimacy, resources, and dynamic capabilities forms resilient organizational configurations in different ways.

Abstract Purpose First, to test our comparative model of online and offline purchase behavior; and second, to investigate whether recency moderates the model's relationships in different time periods. Theoretical framework This study is framed by Garbarino and Johnson's (1999) theory of the roles of satisfaction, trust, and commitment. Design/methodology/approach The sample consists of 768 purchases of products/services by Peruvian consumers. To test the hypotheses, we apply structural equation modeling based on covariance (SEM). Findings The relationship between privacy/security of purchase and quality is stronger in an offline purchase than an online purchase, while the opposite is true for the relationship between quality and trust. Also, purchase recency moderates all relationships in our loyalty model. Practical & social implications of research We focus this study on a Latin American country where recency of purchase is central to customer loyalty relationships. Originality/value We provide a relevant perspective on point-of-sale loyalty in both offline and online environments, looking at the moderating role of recency of purchase (a variable that has been scarcely researched) in the context of a developing country such as Peru.

Abstract Purpose Few studies have analyzed how enterprise managers manipulate business activities to meet the earnings thresholds of Brazilian listed companies. This study investigates whether Brazilian listed companies manipulate their business activities to meet their earnings thresholds. Theoretical framework This study verifies whether Brazilian listed companies manipulate their business activities to meet their earnings thresholds and whether this behavior is consistent with the signaling theory. Design/methodology/approach We employ the Deng model (2018) and analyze how firms manipulate their earnings using gains or losses from property disposition and whether they attempt to meet their earnings thresholds by avoiding earnings losses and decreases. A regression model is then used to verify whether the manipulation affects performance in the following period (i.e., sends signals). A total of 314 samples from 49 Brazilian listed companies during 2011-2018 are examined. Findings Most Brazilian listed companies do not manipulate their gains or losses from property disposition to avoid earnings losses or decreases, and the manipulation does not affect performance in the following period. Therefore, the signals do not reflect future expectations, thus rejecting the signaling theory. Practical & social implications of research Enterprise managers could carefully control operating activities. Creditors could monitor business transactions. Accountants should pay attention to monitoring their real earnings, seeking to align the exercise of manager judgment with practices that improve the quality of accounting information. The board of directors could strengthen its control over the property disposition behavior of enterprise managers. Originality/value This study is the first to verify the earnings manipulation behavior of Brazilian firms by using the signaling theory. We also analyze the manipulation of the gains or losses from property disposition to address the gap in the literature.

Abstract Purpose The purpose of this research is to investigate whether using an accounting fundamental strategy can provide valuable information about the value of a business and generate positive excess buy-and-hold returns on stocks in the Euronext 100 index. Theoretical framework The theoretical framework of the study is based on the combination of valuation theory and accounting research. We rely on fundamental analysis as a stock valuation method, which involves looking at both quantitative and qualitative information in a company's economic and financial records. Design/methodology/approach We examine the relevance of growth and earnings response coefficients, as well as Piotroski's F-scores and Lev and Thiagarajan's L-scores in predicting future stock returns. The analysis covers the years 2000 to 2020. Findings The study finds that accounting fundamental signals provide value-relevant information to investors and have a significant and positive relationship with future buy-and-hold market returns, resulting in high-scoring portfolios achieving significant average annual market excess returns. Practical & social implications of research The results of the study have practical implications for investors who use fundamental analysis as an investment strategy. The results indicate that accounting fundamentals provide value-relevant information to investors and can lead to positive excess buy-and-hold returns. Originality/value The study contributes to the understanding of the role of fundamentals in firm valuation and provides fresh insights into binary models and fundamental analysis applied to European markets. In addition, the study tests the robustness of fundamental strategies using fixed effects regression analysis.

Abstract Purpose This study focuses on how the interplay between an advertising firm's absorptive capacity (ACAP) and the use of big data/social media analytics contributes to the performance of advertising campaigns. Theoretical framework This study extends the theory of the resource and knowledge based views, and that of dynamic capabilities, exploring absorptive capacity in a new context - the advertising industry and the performance of campaigns in Brazil. The influence of the use of external knowledge of big data analytics and social media analytics on the performance of cross-media advertising campaigns in the search for competitive advantage is analyzed. Design/methodology/approach This study uses structural equation modeling in a sample of 335 advertising agencies (335 questionnaires in all regions of Brazil). Findings We find that social media analysis led to better performance of advertising campaigns, unlike big data analytics, which was not significant Practical & social implications of research Questions are raised by highlighting the integrative nature of absorptive capacity and how its components (acquisition, assimilation, transformation, and exploitation) relate to the performance of advertising campaigns. Originality/value The application of a model to advertising firms is presented, which differs from other industries in its operationalization, pointing out critical theoretical and practical implications.

Abstract Purpose This paper demonstrates that the effects of the presence of outside directors on the board of directors can be different across family vs. non-family firms, regarding the financial performance. We propose that the presence of outside directors in the board is relevant to explain the performance of family firms, because they better deal with mechanisms that reduce the type II agency conflicts. Theoretical framework Based on agency theory and its derivatives, we capture the specificities of family firms relative to non-family firms. Design/methodology/approach Drawing from an extensive and updated database of over 370 publicly listed companies in Brazil, this study conducted panel data regressions with fixed effects on three different response variables, in order to have a broader perspective and reduce the bias of the results. Moreover, we performed robustness tests with different measurement methods. In addition, we tested the selection of variables by addressing both internal and external validity criteria, in addition to convergent and nomological validity, according to the literature. Findings The empirical results indicate that there is a relationship between board independence and short-term financial performance for a cohort of family firms. Practical & social implications of research This research contributes to various stakeholders by providing relevant insights about an important ESG criterion, which opens up a path for further studies. Originality/value - This is a novel approach to relevant phenomena from the perspective of family firms compared to non-family firms. Also, this paper deepens the study of family businesses and considers different cohorts of firms.

Abstract Purpose This study aims to understand the resilience process through the initiatives of micro-entrepreneurs at a creative fair to deal with an external shock context. Theoretical framework The study is based on the resilience lens and seeks to add new reflections on this lens in the context of social commerce. Design/methodology/approach A case study was conducted on the changes brought about by COVID-19 in the creative industry. Interviews were carried out with micro-entrepreneurs in Crato, in the state of Ceará, Brazil. In addition, regional decrees were collected to analyze how micro-entrepreneurs reacted to the implementation of measures against the spread of COVID-19. Findings It was possible to create a framework that reflects how micro-entrepreneurs saw the trade fair before the pandemic and their resilient and adaptable attitudes to overcome external shocks and sell their products through social commerce on the Internet. Practical & social implications of research This study develops new reflections on resilience and the role of social commerce, in addition to filling gaps in the understanding of micro-entrepreneurs’ resilience. In addition, this study can help micro-entrepreneurs understand how social commerce can help develop their businesses. Originality/value This article managed to fill some gaps about the resilience of micro-entrepreneurs in the creative industry. It also showed that social media were used to overcome the external shocks caused by COVID-19. However, the physical space is still important for this type of market, even during a pandemic.

Abstract Purpose To analyze the adherence to queen bee phenomenon (QBP) attitudes among women founders and co-founders of startups. Theoretical framework We used the three dimensions of the QBP to understand how female founders of startups relate to other women in the work environment and how they deal with the male professional culture in which they are embedded. We also used the gender career literature to understand cooperative relationships between women. Design/methodology/approach Our research approach is characterized as qualitative. We employed semi-structured interviews with 30 women founders of startups. We used the abductive analytical procedure. The authors carried out the coding process independently and we obtained adequate reliability values in the coding procedures. Findings The participants stated that they assimilated male traits. However, they did not distance themselves from their gender identity group. Nor did they legitimize the gender hierarchy. Thus, we rejected our assumption that women founders of startups exhibit strong QBP adherence. Practical & social implications of research This study contributes to the theoretical advancement of the QBP by analyzing a male context where QB attitudes are not salient. At the same time, we suggest gender bias awareness as a variable that impacts QB attitudes. Although cooperation among women reduces QB attitudes, it does not reduce gender inequality in the workplace. Thus, in terms of social implications, we reinforce the need for structural changes to achieve gender equality. Originality/value The relationship between women has been scarcely studied in the startup context, and we found no studies that analyzed female founders of startups through the prism of the QBP.

Abstract Purpose This study analyzes the way that firm-generated content (FGC) was adapted in the accommodation sector through hotel chains' Facebook posts at a time of crisis. Specifically, this research aims to: (1) explore hidden topics in hotel chains' FGC; (2) classify topics according to their promotional or non-promotional content; and (3) compare topics during the first months of the COVID-19 crisis and the same months of 2019. Theoretical framework The method/theoretical approach used in this research is social network analysis. Design/methodology/approach We used content analysis to examine 1,317 Facebook posts from the five hotel chains with the greatest presence in Spain. NodeXL software was used to create a semantic network to reveal the relationships between the ideas embedded in the text collection. Findings 14 latent topics were found in each period, including promotional and non-promotional content. Non-promotional topics increased from one third in 2019 to more than half in 2020, and the most relevant topic in 2020 was “Competitions”. Practical & social implications of the research The findings of our study suggest that during the pandemic, unlike other crises, hotel chains used Facebook to accompany users, entertain them, and maintain the emotional connection with the brand, responding to societal demands. Originality/value This study is novel not only because of its focus on FGC in the tourist accommodation sector, but also because it uses semantic network analysis to study the way in which firms make use of social media in crisis situations.

Abstract Purpose This article examines the effect of perceived organizational justice on home office work performance, mediated by affective commitment. Theoretical framework The theoretical lens used to support this research is organizational justice, in its distributive, procedural, and interactional dimensions. Design/methodology/approach A single entity survey was carried out in a credit union, and structural equation modeling was used to analyze the 112 valid responses. Findings The results reveal that the perception of distributive justice has a significant effect on home office work performance, in contrast to perceptions of procedural and interactional justice. Perceptions of distributive and procedural justice had a significant effect on affective commitment, but interactional justice did not. Nevertheless, affective commitment does not seem to influence home office work performance, and no mediating effect of affective commitment was confirmed. Thus, the findings suggest that home office work increased the perception of distributive justice and decreased affective commitment to the credit union studied, given that it did not have a significant effect on job performance. Practical & social implications of research The study confirms the effect of distributive and procedural justice, but not of interactional justice, on affective commitment, and does not confirm the influence of commitment. Originality/value Based on the literature, the relationship between the dimensions of organizational justice and home office work performance was examined. The findings encourage actions to promote perceptions of justice and increase the level of affective commitment in the credit union studied.

Abstract Purpose This study examines how the brand personality dimensions of a sports brand organization influence brand tribalism, and the subsequent effects of tribalism on three consumer behavioral responses: loyalty, WOM, and recruitment. Theoretical framework We base our conceptualization of sports brand personality on Tsiotsou’s (2012) model of brand personality, with five dimensions: competitiveness, prestige, morality, authenticity, and credibility. The study also uses Taute and Sierra’s (2014) model of brand tribalism, with four dimensions: lineage, social structure, sense of community, and defense of the tribe. Design/methodology/approach We present a theoretical model estimated using data from a sample of 1,662 soccer fans of Spanish LaLiga clubs. The model is estimated using the PLS algorithm. Findings We show that brand morality, prestige, and competitiveness have a positive influence on brand tribalism, while brand credibility and authenticity have a negative or non-significant influence on tribalism. Our results also support the notion that sports brand tribalism encourages fans to be more loyal and to engage in more positive WOM and recruitment behaviors. Practical & social implications of research Managers should focus on improving the perceived morality (sustainable and socially responsible behaviors), prestige, and competitiveness of the sports brand. Originality/value We show which dimensions of a sports brand personality influence brand tribalism, and its subsequent behavioral effects.

Abstract Purpose This study aims to analyze the elements that influence the adoption of circular economy (CE) activities by European small and medium enterprises (SMEs) and how these activities affect firm performance, following a multi-level approach. Theoretical framework To improve essential transformations, CE implementation must take place simultaneously in the micro, meso, and macro systems (multi-level approach); this is necessary to help underscore the holistic, systemic change that the CE requires. Furthermore, it is hard for SMEs to visualize the economic benefits, as the implementation of CE practices often involves making additional investments that SMEs may not consider profitable. Design/methodology/approach We developed seven hypotheses and a theoretical model based on the literature review to answer the research question. The model and hypotheses were tested using the path analysis method, applying the model to a sample of 4,550 European SMEs. Our empirical analysis uses data from the Flash Eurobarometer 441 (European SMEs and the Circular Economy) and the 2016 EUROSTAT database. Findings The results support the idea that the financial impact of adopting a CE is positive and is affected by the level of national economic and environmental performance. Practical & social implications of research By connecting the emergence of the CE to the national context, our study highlights the importance of considering macro-level factors when analyzing the impact of CE adoption on firm performance. Public direct investment policies, especially in countries with higher economic performance rates where firms operate at a higher level of competitiveness, can improve firm performance indicators and make CE adoption more attractive. Originality/value Studies on the exploration of the CE have a predominance of qualitative research with a single case; however, as the CE is a practice-oriented paradigm, the use of a quantitative methodology has become crucial to research articles in this field. This paper develops frameworks and metrics for assessing the CE at the country, industry, and firm levels using a quantitative methodology.

Abstract Purpose This study employees cash flow rights and the contestability of multiple large shareholders to explore the impact of multiple large shareholders on investment efficiency in Chinese setting. Theoretical framework We introduce Asymmetric Information Theory and Theory of Principal and Agent o support our study. Design/methodology/approach Empirical study (including PSM method, IV method, threshold method and so on) is used in this study. Moreover, this paper selects the non-financial listed companies of A share enlisted in both the Shanghai and the Shenzhen Stock Markets from the period of 2007 to 2016 as the sample. Findings Our findings show a positive correlation between multiple large shareholders and absinvestment among Chinese listed firms. Practical & social implications of research Different from the previous views that multiple large shareholders have positive governance effects, we provide evidence that multiple large shareholders have negative governance effects. And we provide new evidence that controlling shareholders would collude with multiple large shareholders to seek for excess private benefits by enhancing enterprise absinvestment. Originality/value This study contributes to the literature in several important ways. First, it shows a positive correlation between multiple large shareholders and absinvestment, which extends the research of Jiang et al. (2018), which found that multiple large shareholders can profoundly enhance investment efficiency. Second, this paper is the first to introduce a threshold model to study the impact of controlling shareholders on the relation between multiple large shareholders and absinvestent, demonstrating that the positive relation between them is strengthened by promoting the governance effect of controlling shareholders.