Abstract Purpose Although virtuous practices enhance organizational excellence, the virtue and culture of humility are little studied in the field of management due to their conceptual challenges. In order to cover this gap, and considering that the virtue of humility is increasingly evolving as a cultural value, this study proposes a typology of humility culture maturity (THCM) that signals a progressive path of this virtue as a value in organizations. Theoretical framework This theoretical-exploratory study is derived from Schein’s (2010) organizational culture models, Galbraith’s (1983) concepts, Maldonado et al.’s (2018) organizational humility model, and Owens et al.’s (2013, 2015) individual humility model. Design/methodology/approach The typology design is based on the procedures for configuring culture maturity models, such as those of Parker (2006) and Rocha et al. (2024). Findings The combination of these theories makes it possible to propose a continuum of five stages of culture maturity: rhetorical, embryonic, stimulated, full and virtuous, with each stage reflecting different behavioral regimes respectively, progressing from unconcerned, reactive, obligatory, voluntary to unconscious, where humility practices are performed in an organic way and internalized in virtuous actions, in a demonstration of culture maturity. Practical & social implications of research The study broadens the understanding of the humility culture, making its analysis more useful, since it indicates specific descriptions and behaviors of humility related to each stage of cultural progression towards maturity. This theoretical study makes the examination of humility in organizations more utilitarian, opening space for further design and empirical testing of both functional models of organizational culture and humility culture maturity, which are instrumentally lacking in the literature and so important for organizational excellence. Originality/value The THCM represents an original proposal that fills a gap in the literature in management studies dedicated to organizational humility and humility culture maturity.

Abstract Purpose This study investigates the impact of intellectual capital readiness on the performance of village-owned enterprises. The study discovered a new index to measure intellectual capital readiness and also looked into whether the relationship is mediated by entrepreneurial knowledge. Theoretical framework The relationship between intellectual capital readiness and the performance of village-owned enterprises is still rare. Design/methodology/approach This research used a quantitative study with 148 management respondents from village-owned enterprises in Indonesia. The data were collected using an online survey. Findings The findings show significant results. First, the Intellectual Capital Readiness Index (ICRI) shows a reasonable level of readiness. Second, the performance of village-owned enterprises is influenced by intellectual capital readiness. Third, entrepreneurial knowledge has a positive impact on the performance of village-owned enterprises. Finally, entrepreneurial knowledge moderates the impact of intellectual capital readiness on the performance of village-owned enterprises. Practical & social implications of research The development of the ICRI offers a valuable tool for managers and policymakers to evaluate and improve the readiness of these enterprises to effectively leverage their intellectual capital. Originality/value This research brings a fresh perspective to the field by introducing innovative methods and concepts to assess and enhance the performance of village-owned enterprises.

Abstract Purpose This paper explores the role of multiple large shareholders to provide evidence of their influence on a firm’s bank debt. Theoretical framework We introduce agency theory to support our study. Design/methodology/approach Empirical research (including the FE model, PSM method, and IV method) is used in our study. Moreover, this paper selects the non-financial A-share companies listed in the Shanghai and Shenzhen stock markets from 2007 to 2022 as the sample. Findings We find that bank debt is positively and significantly related to tunneling, and negatively and significantly related to Tobin’s Q. Moreover, it is found that multiple large shareholders’ contestability reduces firms’ bank debt. Furthermore, we document that the influence of multiple large shareholders on bank debt would be reduced in state-owned firms. Practical & social implications of research Our findings contribute to the literature by highlighting the role of multiple large shareholders, who can reduce the agency cost of a firm’s bank debt. Originality/value This study contributes to the literature in several important ways. First, it adds to the research on the governance role of multiple large shareholders. Second, this paper offers the first attempt to examine the impact of the contestability of multiple large shareholders on bank debt, and we find a negative relationship between them.

Abstract Purpose This study examines a zero-beta portfolio strategy that accounts for the uncertainties in expected returns and betas, with the goal of improving investment performance by incorporating parameter uncertainty into the optimization process. Theoretical framework The research is grounded in modern portfolio theory and robust optimization, drawing on the multifactor asset pricing model of Chen, Roll, and Ross (1986). It leverages the Kalman filter to estimate dynamic betas and their uncertainties, and incorporates analysts' forecasts to assess expected returns and their associated uncertainties. Design/methodology/approach The study constructs two types of zero-beta portfolios: a long-short stochastic portfolio that maximizes the ratio of expected return to parameter uncertainty, and a long-short normal portfolio that focuses solely on maximizing expected return. Portfolio performance is evaluated using data from 2015 to 2022. Findings The results indicate that the long-short stochastic portfolios outperform the normal portfolios on several performance metrics. Specifically, they exhibit higher realized returns, lower drawdowns, and a superior realized Sharpe ratio. In addition, the stochastic approach yields more accurate predictions with a significantly lower root mean square error. Practical & social implications of research The findings provide insights for investors, fund managers, and practitioners seeking to improve portfolio stability and performance under uncertainty. However, reliance on analysts' estimates should be approached with caution, as deviations from expected values can still occur. Originality/value This study contributes to the existing literature by empirically validating the benefits of incorporating parameter uncertainty into portfolio optimization.

Abstract Purpose This research had two objectives: first, to analyze the effect of perceived financial security of neobanking applications on trust, customer retention, and the cost of switching to a traditional bank; second, to analyze the mediating role of trust in neobanks between perceived financial security in the application and customer retention, as well as between trust and the cost of switching to a traditional bank. Theoretical framework This research used the stimulus-response (S-R) and stimulus-organization-response (S-O-R) models to study perceived financial security in the application as a stimulus and its effect on trust as an organism and customer retention and switching costs as behavioral responses. Design/methodology/approach A quantitative cross-sectional study was conducted. Online surveys were used to collect data from 305 neobank customers in Mexico. Furthermore, the partial least squares approach and bootstrapping resampling method were used to test seven hypotheses. Findings The results supported six hypotheses and confirmed that perceived financial security in the neobank application affected customer trust and retention, but did not affect the cost of switching to a traditional bank. In addition, trust was found to play a mediating role between perceived financial security and both customer retention and switching costs. Practical & social implications of research This study shows that neobanks need to ensure and communicate to customers the perceived security of their applications for financial transactions, as it has a direct impact on customer retention. Moreover, the development of mechanisms that increase customer trust is key to retaining customers and building barriers to prevent the loss of users to traditional banking. Originality/value This research contributes to the advancement of knowledge in the field of neobank management, as it deepens the understanding of perceived financial security and trust as key aspects of customer retention and switching costs.

Abstract Purpose This study proposes a model in which online shopping intention is a consequence of the online shopping experience in an omnichannel environment. Theoretical framework The experience is shaped by the interaction between a consumer's cognitive and emotional experiences, with omnichannel shopping trust playing a crucial mediating role in the relationship between online shopping experience and purchase intention. The theoretical model is based on the Stimulus-Organism-Response (S-O-R) framework. Design/methodology/approach Data analysis was performed using structural equation model analysis. Systematic random probability sampling was used to recruit 600 consumers, all of whom had experience with omnichannel shopping in Chilean retail settings. Findings Online shopping intention results from the interaction between cognitive and emotional experiences. Omnichannel shopping trust partially mediates the effect of the online shopping experience on purchase intention. Practical & social implications of research This study has important implications for digital platform managers and retailers who want to deliver an optimal omnichannel experience. Originality/value In an omnichannel environment, the retailer needs to establish a strong connection through the cognitive and emotional experience of the shopper.

Abstract Purpose To investigate the influence of transformational leadership for the environment (TLE) in the context of Brazilian industries, testing the hypothesis that workers engage in organizational citizenship behaviors (OCBs) through organizational citizenship behaviors for the environment (OCB-Es). Theoretical framework Transformational leadership for the environment and voluntary behaviors are essential elements for developing more efficient environmental management. Design/methodology/approach Using the perceptions of 1068 workers, a structural equation model (SEM) was created to test the hypotheses. Findings The results obtained in this study reveal four main findings. (1) TLE significantly influences OCB-Es; (2) TLE has a direct influence on OCBs; (3) OCB-Es significantly influence OCBs; (4) OCB-Es moderate the indirect influence of TLE on OCBs. Practical & social implications of the research It was noted that there is a need for Brazilian organizations to develop policies and practices aimed at people management and its interface with environmental management, enabling the qualification of workers in the topics and pointing to sustainability in the work environment. In addition, the constructs studied are useful for understanding workers’ perceptions of environmental performance, stimulating actions aimed at environmental improvement and providing opportunities for training that leads to the resolution of problems related to the environment. Originality/value The study offers suggestions to help leaders promote voluntary cooperative behavior among their subordinates, thereby reducing the pollution caused by Brazilian industries.

Abstract Purpose This study aims to analyze the relationship between the adoption of Integrated Reporting and earnings quality in the Brazilian context. Theoretical framework Earnings quality may signal a more sustainable, ethical and transparent behavior of company management. Therefore, it can serve as an indicator of changes in management practices associated with the implementation of Integrated Thinking. Design/methodology/approach The study employed a panel data model, considering a sample of 630 observations from non-financial Brazilian companies from 2017 to 2020. The data for companies adopting Integrated Reporting were manually collected from the companies' corporate disclosures. Findings The analysis of Integrated Reporting quality revealed a significant relationship with earnings quality. This may indicate that these companies are making internal changes in terms of information transparency, and it is also expected that they are under less pressure to deliver short-term results. Practical & social implications of research The research findings are relevant for shareholders, as they highlight how integration can drive internal changes within the company. For regulators and society, it provides an opportunity to anticipate the effects of adopting ISSB standards, as this body has incorporated the IIRC. Originality/value It allows for indirect observation of changes in company management and managerial opportunism. Brazil represents a relevant context due to the publication of CPC 09 and the high number of Integrated Reporting adopters.

Abstract Purpose This paper evaluates the influence of corporate governance and ownership concentration on subsidized financing in Brazil. Theoretical framework The effect of governance and ownership concentration on subsidized debt is analyzed from the perspective of agency conflicts (Agency Theory) and company behavior in relation to debt (Trade off and Pecking Order Theories). Design/methodology/approach Corporate governance is approximated by an index and presence on the Novo Mercado. Models are estimated by FGLS and Logit for a panel with 1387 annual observations of 147 companies with more liquidity on B3 in the period 2010-2019. Findings Ownership concentration has a positive quadratic relationship with subsidized debt, which was not sensitive to corporate governance. There is a preference for subsidized debt by managers in companies with low ownership concentration and by controlling shareholders in companies with high concentration. The more lenient monitoring from subsidized debt’s creditor may be an explanatory factor. In addition, companies with high ownership concentration face difficulties for share issuance and consider it uninteresting. All that leads these firms to intensify debt raising. Practical & social implications of research It may be interesting for the government strengthening the analysis of corporate governance aspects in the assignment of subsidized credit. Originality/value The recent evolution and the determinants of subsidized debt in Brazil are analyzed under the agency conflicts approach. This is an innovative approach that takes into account the specialization of debt composition and an important funding source.

Abstract Purpose The study aims to investigate the most popular content discussed by social media influencers on YouTube and its associated valence, to delineate the content categories favored by top Brazilian influencers, and to assess their impact on consumer digital engagement. Theoretical framework This study draws upon influencer marketing, social media influencer (SMI) literature, and digital engagement. Design/methodology/approach A data mining approach was used. The methodology includes the collection of video post characteristics, engagement metrics, and audio transcriptions from 34,563 videos on 103 YouTube channels. After textual preprocessing, a topic modeling stage is performed using the Latent Dirichlet Allocation (LDA) algorithm and sentiment analysis. Findings The study identified 19 critical dimensions of video content on YouTube. The top 3 content categories with the highest user digital engagement are: Family, Entertainment/General, and Culture & Entertainment. The sentiment analysis shows that content about Beauty, Gastronomy, and Economics, Entrepreneurship & Business have the highest proportional positive valence. Politics, Economy & News, Entertainment/General, and Gaming have high percentages of negative valence. Practical & social implications of research The results provide a deep understanding of YouTube’s popular content and digital engagement rates. This is essential for companies and SMIs looking to maximize their reach, resonate with their target audience, and stay competitive in the dynamic digital landscape. It allows for more effective communication, content creation, and strategic decision-making. Originality/value Understanding the content on YouTube can provide valuable insights for businesses, marketers, and content creators to optimize their communication strategies.

Abstract Purpose This paper studies leadership behavior in relation to leader gender, gender congruence, and their relationships with employee job satisfaction over time. Theoretical framework Drawing on the perspective of gender stereotypes and the role congruity framework, this study examines how communal stereotypes socially attributed to females can compromise their assessment as competent leaders. Design/methodology/approach Two sets of data from the European Working Conditions Survey were studied. Mean comparisons and multivariate regression analyses were carried out on samples of 25,649 at Time 1 and 26,047 at Time 2. Findings The main findings show different leadership behaviors between male and female leaders. Contrary to expectations, females displayed more of both instrumental- and relationship-oriented behaviors, and this difference has increased over time. However, fewer differences are observed in instrumental-oriented behaviors. The results also suggest that employees’ gender affects how some leadership behaviors are perceived. Finally, no gender differences were found in job satisfaction, as the behaviors studied positively relate to it. Practical & social implications of research From a practical perspective, fostering a diverse array of leadership behaviors is important for enhancing employee job satisfaction within organizations. Female leaders are increasingly viewed positively in the workplace. Originality/value Female leaders show a more versatile set of leadership behaviors compared to their male counterparts. Differences in relationship-oriented behaviors persist, and the gender of the employee is important in perceiving which behaviors male or female leaders engage in more.

Abstract Purpose This study investigates the effect of shareholding control and corporate governance on access to debt financing by Brazilian firms. Theoretical framework From the perspective of agency theory, the presence of controlling shareholders can contribute to a preference for debt financing. On the other hand, strengthening the internal corporate governance system can reduce agency conflicts and facilitate access to the credit market. Design/methodology/approach Using mean difference tests and regression analysis, we analyzed the relationship between the debt financing, shareholding control and corporate governance of 168 firms listed on the B3 in the period 2011-2019. Findings Debt financing is related to shareholding control, being higher in firms with majority control and lower in firms with dispersed control. The quality of corporate governance contributes to access to debt, especially in firms with shared control. However, in firms with dispersed control, the relevance of corporate governance is lower. Practical & social implications of research The evidence reiterates the importance of strengthening the internal governance system of Brazilian firms as a way of improving access to the credit market, considering their ownership structure, especially the type of shareholding control. Originality/value The paper shows that shareholding control, as an attribute of the ownership structure and a determinant of agency conflicts, can influence corporate financing decisions and the relationship between the adoption of corporate governance practices and access to debt financing.

Abstract Purpose The goal of the research is to determine the perceived efficacy of brand boycotting campaigns by Turkish consumers, as well as the effects of social pressure on boycott intention, the mediating role of social media, and the moderating role of discount sensitivity on these effects. Theoretical framework The research idea and model were developed following previous boycott research (Shin and Yoon, 2018; Muhamad et al., 2018; Asnawi et al., 2019; Zhai and Luo, 2023). Design/methodology/approach Data were collected from Turkish consumers using the convenience sampling method and an online survey. Using data from 417 consumers, the research hypotheses were investigated using structural equation modeling. Findings According to the findings, perceived efficacy and social pressure have a significant effect on consumers' boycott intentions, with social media playing a partial mediating role. Furthermore, consumers' sensitivity to discounts offered by boycotted firms was found to have a moderating effect on the relationship between social pressure and boycott intention. Practical & social implications of research Managers of boycotted brands should devise appropriate marketing strategies to minimize damage. Given the importance of social media in boycotts, it is imperative that brands actively use social media as a communication channel. Originality/value The fact that the paper examines the idea of boycotting in the context of both social media and consumer discount sensitivity demonstrates the importance of the research and its contribution to filling a gap in the literature.

Abstract Purpose This article aims to identify the effect of diversity management on organizational performance in the Brazilian context. It also aims to assess the role of commitment and person-job fit as mediators, as well as empowerment as a moderating variable, in the relationship between diversity management and performance. Theoretical framework We present and discuss the concepts of diversity management, person-job fit, structural empowerment, and commitment and their relationships. Design/methodology/approach This is a quantitative study using structural equation modeling, mediation and moderation between variables. Data were collected through a questionnaire administered between April and November 2022. The sample obtained was 568 individuals. Findings Diversity management positively affects organizational performance, and commitment acts as a mediating variable in this relationship. Empowerment positively moderates the relationship between diversity management and performance. Diversity management was also found to positively impact both commitment and person-job fit. Practical & social implications of research Organizations can benefit from greater performance by increasing both diversity management practices and practices that increase employee commitment and empowerment, since in the presence of higher levels of empowerment, the relationship between diversity management and performance is increased. Originality/value This study provides relevant suggestions about the role played by both diversity management and empowerment, which working together can improve organizational performance, especially in Brazil, where studies of this nature are rare.

Abstract Purpose Institutional investing has grown at an unprecedented rate in recent decades. Three major firms dominate the industry worldwide: BlackRock, Vanguard Group and State Street, or the “Big Three.” This study investigates the strategy of blockholders in the ownership of companies operating in the Brazilian economy from the perspective of strategic action field theory. Theoretical framework The growth of international institutional investors as shareholders in the corporate market is associated with the strengthening of the financialization process. Strategic action field theory allows the study of conflict and cooperation relationships between actors in economic and business contexts, as well as changes in these fields. Design/methodology/approach This study proposes an exploratory and descriptive analysis using a sample of 200 large companies operating in Brazil. Also, Pearson's correlation measures and multiple correspondence analysis (MCA) were calculated to understand the relationships between shareholding variables and investments in sectors of activity. Findings These institutional investors are present in most of the equity positions and the results suggest horizontal ownership investments in the portfolio of the “Big Three” in the large companies operating in Brazil. Their investment portfolios are focused on industries and segments with high economic value through horizontal ownership. Practical & social implications of research The actions of these three major investors affect aspects of corporate governance and influence the economy as a whole. Originality/value This article presents an original analysis of the investments of the “Big Three” as shareholders in companies operating in Brazil. This paper also addresses the intensification of the phenomenon of financialization and its links with the emergence of institutional investors as shareholders in large companies.