Resumo Grupos de empréstimo (GEs) e capital social são elementos primordiais para as muitas soluções em operações de microfinanças ao redor do mundo. No entanto, a capacidade dos GEs para reduzir os custos e os riscos de transações das instituições de microfinanças (IFM) são mediados pelo ambiente institucional. A partir desse pressuposto, discutimos as interações existentes entre os ambientes institucionais dos países desenvolvidos (anglo-saxões e comunitários) e os países em desenvolvimento com diferentes estoques de capital social (individual, em rede e institucional), bem como as influências dessa interação sobre a eficácia dos GEs. Para tanto, construímos, a partir da perspectiva institucional de O. Williamson, um framework teórico que coloca em interação todos esses elementos e que permite analisar as suas principais relações dentro do contexto deste estudo. Com base nesse framework, propomos que, nos países em desenvolvimento e nos países anglo-saxões, tanto o estoque de capital social individual quanto o em rede são os mais importantes para a eficácia dos GEs. No entanto, em países anglo-saxões, esses dois estoques de capital social são complementados por dispositivos formais de contratação. Nos países comunitários desenvolvidos, porém, os estoques de capital social institucional têm um impacto positivo mais forte sobre a dinâmica dos GEs.

Abstract Lending groups (LGs) and social capital are two central elements to the many microfinance solutions operating around the world. However, LG effectiveness in reducing transaction costs and lending risks for microfinance institutions (MFIs) is mediated by institutional environments. Starting from this assumption, we discuss the existent interactions between the institutional environments of developed (Anglo-Saxon and communitarian) and developing countries with different stocks of social capital (individual, network and institutional) and the influences of this interaction on LG effectiveness. In order to do so, we applied the institutional perspective of O. Williamson to build a theoretical framework to examine the interaction of all these conditions, allowing for analysis of their main relations within the microfinance context. Based on this framework, we propose on the one hand that in developing and Anglo-Saxon developed nations, stocks of both individual and network social capital are the most important for an LG's effectiveness. However, in Anglo-Saxon countries, these two stocks of social capital are complemented by formal contracting devices. In communitarian developed countries, on the other hand, the stocks of institutional social capital have a stronger positive impact on LG dynamics.

ResumoO trabalho avalia as estratégias climáticas adotadas por multinacionais do setor de alumínio. A pesquisa adota uma abordagem qualitativa e toma por base entrevistas com gerentes de duas Multinacionais, uma delas instalada no Brasil e a outra no Canadá. As evidências empíricas demonstram que a multinacional do setor de alumínio que opera no Canadá enfatiza a redução de custos e a melhoria da eficiência operacional com projetos para reduzir emissões de gases do efeito estufa. A multinacional que opera no Brasil destaca, prioritariamente, o relacionamento com os stakeholders e a preocupação com a imagem corporativa para a adoção de uma estratégia de adaptação ou compensação das emissões de gases do efeito estufa. Em nenhum dos dois casos estudados, as pressões coercitivas, advindas de exigências regulatórias, figuram como fatores determinantes para a adoção de estratégias climáticas. O estudo conclui que, no caso da indústria de alumínio, características organizacionais são mais relevantes que as pressões institucionais na definição de estratégias climáticas.

AbstractThis paper assesses the climate strategies adopted by multinational corporations of the aluminum industry. The research adopted a qualitative approach and was based on interviews with managers from two multinational corporations: one installed in Brazil and the other in Canada. Empirical evidence shows that in order to develop projects to reduce greenhouse gas emissions, the multinational company installed in Canada emphasizes cost reduction and operational efficiency improvement, while the multinational company that operates in Brazil primarily highlights the relationship with stakeholders and the concern with a responsible corporate image. In neither of the two cases studied, coercive pressures arising from regulatory requirements figured as determinant for the adoption of climate strategies. The study concludes that, in the case of the aluminum industry, organizational factors are more relevant than institutional pressures on the definition of climate strategies. Companies may create hedging strategies able to deal with carbon restrictions or attempt to postpone regulations until they have technologies.

Some studies have already highlighted the effects of the introduction of Corporate Social Responsibility [CSR] projects into Multinational Corporations’ [MNC] strategies. However, little attention has been paid to the influence of transverse CSR structure on headquarters/subsidiary integration. In this article, we begin with the following question: What is the influence of the introduction of a centralized/decentralized structure on conducting a CSR strategy in a MNC? Our main objective is to identify conditions through which the structure of the CSR department influences the CSR strategy of the MNC. We define transverse CSR structure as: (1) the existence of a CSR directory at the headquarters level and a CSR representative at the subsidiary level, and (2) the existence of representatives from different areas who participate in meetings or committees to make decisions about CSR strategy. We argue that a transverse CSR structure favors consideration of global and local CSR demands by headquarters and subsidiaries. This process takes place through the mediation of three main elements: information exchange, awareness activities and definition of objectives.