Consumer complaints affect company market value and common sense suggests that a negative impact is expected. However, do complaints always negatively impact company market value? We hypothesize in this study that complaints may have a non-linear effect on market value. Positive (e.g. avoiding high costs to solve complaints) and negative (e.g. speedy and intense diffusion) tradeoffs may occur given the level of complaints. To test our non-linear hypothesis, a panel data was collected from cell phone service providers from 2005 to 2013. The results supported our tradeoff rationale. Low levels of complaints allow for companies to increase market value, while high levels of complaints cause increasing harm to market value. The sample, model and period considered in this study, indicates a level of 0.49 complaints per thousand consumers as the threshold for a shift in tradeoffs. The effects on market value become increasingly negative when trying to make reductions to move below this level, due to negative tradeoffs.

O objetivo neste artigo é avaliar o impacto de longo prazo que os investimentos em práticas ambientais e sociais têm nas empresas que reportam seus desempenhos em sustentabilidade. Duas hipóteses baseadas na literatura são lançadas: empresas que investem em sustentabilidade de forma estratégica apresentam desempenho melhor após um choque externo; empresas praticam e reportam sustentabilidade com sucesso quando o foco dos investimentos é estratégico. De um painel de 252 empresas, aquelas que investiram em sustentabilidade tiveram resultados melhores no período pós-crise financeira de 2008. Adicionalmente, evidências de uma empresa (Brasil Foods) estudada em um contexto histórico expõem a evolução dos investimentos estratégicos em sustentabilidade e a relação deles com as competências e o negócio central da empresa.

The objective of this paper is to assess the long term impact of sustainability investments in the companies' performance. Two hypotheses are developed based on literature. First, companies that strategically invest in social and environmental projects perform better after an exogenous effect. Second, companies that implement and report sustainability have those investments aligned with the core business and competence. From a panel of 252 companies suggests that those companies reporting that invested in sustainability performed better than others that did not in the post-financial crisis of 2008. Additionally, evidence of a company (Brazil Foods) studied in a historical context expose the evolution of strategic investments in sustainability and their relation with the competences and the core business of the company.

En este artículo el objetivo es evaluar el impacto de largo plazo que tienen las inversiones en prácticas ambientales y sociales en las empresas que informan su desempeño en sostenibilidad. Se presentan dos hipótesis con base en la literatura: empresas que invierten en sostenibilidad en forma estratégica tienen un mejor desempeño tras un choque externo; empresas que practican la sustentabilidad y producen informes lo hacen con éxito cuando el enfoque de la inversión es estratégico. De un conjunto de 252 empresas, aquellas que invirtieron en sostenibilidad tuvieron un mejor resultado en el período posterior a la crisis de 2008. Además, la evidencia ofrecida por el estudio de una empresa (Brasil Foods), en un contexto histórico, expone la evolución de las inversiones estratégicas en materia de sustentabilidad y su relación con las competencias y la actividad principal de la empresa.

This paper examines how relationships with friends moderate the impact of professional networks on sales performance. Based on a sample of 204 sales managers in a professional service company, this study presents evidence that friendship networks amplify the effect of sales forces' professional networks on new product sales as well as on prospecting and converting new deals. Our results offer important insights into the socio-cognitive perspective of sales management literature and suggest that firms should encourage managers to improve their friendships in order to access valuable information that will enhance customer knowledge and support their sales efforts.

Relationship marketing is essential for success in business. The need to understand better the differences in the strategies buyers and suppliers follow is what has motivated this study. We drew on emerging perspectives on inter-firm governance and networks to develop a theoretical framework to understand the success of long-term relationships. We tested the framework using data from 67 merchant distributors (buyers) and 174 suppliers of theirs in the Dutch potted plant and flower industry. While the most successful distributors tend to take the "hard", tangible strategy using transaction specific investments and fostering joint action, the successful suppliers take the "soft", social approach by emphasizing trust and the norm of flexibility in the relationship.

Estratégias de marketing de relacionamento são essenciais para o sucesso de qualquer negócio. A necessidade de se entender melhor as diferenças entre as estratégias de marketing de compradores e fornecedores foi o principal motivador deste estudo. As perspectivas emergentes de governança inter-organizacional e rede estratégica de negócios são utilizadas no desenvolvimento do modelo teórico que busca entender quais os fatores que caracterizam relacionamentos de sucesso. O modelo teórico foi testado com 67 compradores (distribuidores) e 174 fornecedores de flores e plantas em vaso da Holanda. Enquanto os distribuidores mais prósperos tendem a utilizar uma estratégia focada em elementos tangíveis, através de investimentos em ativos específicos para a transação e encorajamento de ações conjuntas; os fornecedores de sucesso empregam uma estratégia focada em elementos sociais, enfatizando a confiança e a norma de flexibilidade no relacionamento.

Relationship marketing is essential for success in business. The need to understand better the differences in the strategies buyers and suppliers follow is what has motivated this study. We drew on emerging perspectives on inter-firm governance and networks to develop a theoretical framework to understand the success of long-term relationships. We tested the framework using data from 67 merchant distributors (buyers) and 174 suppliers of theirs in the Dutch potted plant and flower industry. While the most successful distributors tend to take the "hard", tangible strategy using transaction specific investments and fostering joint action, the successful suppliers take the "soft", social approach by emphasizing trust and the norm of flexibility in the relationship.

O objetivo deste artigo é discutir a importância da confiança e o efeito dos investimentos em ativos específicos em relacionamentos colaborativos com fornecedores. O artigo ainda discute o efeito moderador da rede de informações sobre as ações colaborativas. Tomaram-se como base teórica as abordagens da economia de custos de transação e os estudos sobre canais de comercialização e redes organizacionais. Para testar as hipóteses formuladas, foram coletadas informações de atacadistas e outros distribuidores do setor de flores e vasos de plantas da Holanda. Os resultados sugerem que as informações obtidas na rede incentivam as ações conjuntas, como proteção para investimentos realizados pelos compradores. Constata-se também que o grau de confiança, os investimentos específicos e as informações obtidas na rede facilitam a coordenação de relacionamentos entre fornecedores e compradores.

The aim of this paper is to discuss the importance of trust and the effect of specific assets investments over collaborative relationships with suppliers, and also to discuss the moderating effect of the information network on such joint actions. As theoretical foundations, we use transaction cost economics, network perspectives and marketing. In order to verify our four hypothesis, we collected information from the wholesalers and other merchant-distributors in the Dutch flower industry. The results suggest that buyers temper their specific investments to the degree of joint action according to the information that is obtained in the network. The degrees of trust, specific investments and the information from the network facilitate the coordination of a buyer-supplier relationship.