Winning in Brazil: how institutional voids affect the entry decision making process of foreign venture capital firms coming to Brazil

The master thesis for the achievement of the academic status master of science in international management (MPGI) will aim to solve the research question of how institutional voids affect the entry decision-making process of foreign venture capital firms coming to Brazil. This is a timely matter since in the past years there has been a sudden eruption of foreign VC involvement in Brazil. Based on the actionable framework by Khanna and Palpeu (2010) we conducted quantitative as well as qualitative research with two sets of interview partners in a two-phase analysis. We interviewed experts from VC firms, foreign VC firms based in Brazil and perspective VC firms that are looking to come to Brazil. We started with the former, derived lessons learned and analyzed how they affect the latter in reaching a decision. As we expected we found that depending on the industry that ventures are in, institutional voids can either pose an opportunity or a threat and hence attract or push away potential VC firms entering Brazil. Opportunities exist especially when exploiting institutional voids, for example through ventures in the marketplace efficiency. Threats are posed by investments in for instance hard infrastructure, where the economic, political and judicial systems as well as corruption and bureaucracy play demanding roles.

International Business Research Forum

Professor Rodrigo Bandeira de Mello fala sobre o International Business Research Forum (IBRF)

The benefits and pitfalls of participating in a corporate inversion: a case study of two companies on two different paths

Even though the term corporate inversion has been heard globally for decades, it has only become more prevalent in the United States during the past two years. This case study examines two United States companies that recently had very high profile and public corporate inversion experiences. Complicated tax laws and high tax rales have long eroded the ability of United States companies to remain competitive on a global scale. During the past two years, tax reform has been elevated to the Presidential and Congressional levei. Because these reform efforts have stalled, however, and in the constant search for ways to become more competitive and profitable, United States dorniciled companies have begun to more aggressively explore corporate inversion. This case study of Walgreens Alliance Boots and Mylan N.V., is undertaken because while the reasons to pursue a corporate inversion for both companies were very similar and done during the same time period, the internai process and final outcome were dramatically different. The other dynamic studied is the role both internai and externai politics had on these two cornpanies and how they influenced the decisions made by the executives. Lastly, the Obama Administration continues to threaten so called "corporate America" to remain in the country through regulatory pressure, but this has not stopped companies frorn pursing corporate inversions. Legislatively, attempts at corporate tax reform, another way to encourage Untied States companies to remain, have also failed. I will not try to determine i f a corporate inversion is the right path for a company to take. I am examining how the rise o f the practice o f corporate inversions has been elevated in boardroorns, on Wall Street, in Congress and at the White House during the past two years.

Are all new market entry strategic dimensions equally relevant?: insights from some chilean experts?

This thesis looks into the strategic dimensions that Multi-National Companies (MNC) consider when they start the operation in a new country in Latin America and if all have the same weight or relevance when doing the strategic decisions as a guide to land onto a new country. Understanding the weight that MNCs gives to them can prompt to understand the reasons behind the success stories, the struggles - and even failures - that some companies had in the aforementioned region. The approach was via an initial analysis of the scholar bibliography in order to define three main dimensions in the models or frameworks that deal with the strategy used to land. After this, and through interviews, was found out how relevant are each of them for their companies, how they weight them and if there were other dimensions considered. The question that this thesis contributes to understand is if all new market strategic dimensions are equally relevant for a MNC when arriving to Latin America. The results show a predominance of the cultural aspect and in second place, the considered entry strategy (alliances, speed, size, etc.).

A qualitative study of the internationalization of born-global technology start-ups in Brazil

O fenômeno das empresas born globals e a internacionalização de empresas brasileiras de base tecnológica são tópicos recentes na literatura acadêmica, devido também ao fenômeno ser recente. Não existem muitos estudados feitos com foco no mercado brasileiro, e os poucos que foram feitos, possuem um viés quantitativo. Esse estudo, entretanto, tem como objetivo analisar startups de maneira qualitativa. Uma extensa revisão de literatura foi desenvolvida a fim de melhor analisar as fundações nas quais o estudo seria desenvolvido, revisando os métodos de internacionalização, empreendedorismo no Brasil, e o fenômeno born global no geral. Entrevistas foram conduzidas com empreendedores no Brasil, que passaram pelo processo de internacionalização de seus modelos de negócios, a fim de reunir introspecções a respeito das peculiaridades do mercado brasileiro. Foram também analisados os fatores de escalabilidade de modelos de negócios dependentes de tecnologia, motivadores para a internacionalização, critério de seleção de mercados, programas governamentais, e o papel das startups brasileiras em uma perspectiva global.

Leading brazilian multinational enterprises: trends in an era of significant uncertainties and challenges

Escola de Administração de Empresas de São Paulo

The consequences of the culture aspect and the power distance in the execution of global strategies in multinational companies in Brazil

One of the challenges presented by the current conjecture in Global Companies is to recognize and understand that the culture and levels in structure of the Power Distance in Organizations in different countries contribute, significantly, toward the failure or success of their strategies. The alignment between the implementation and execution of new strategies for projects intended for the success of the Organization as a whole, rather than as an individual part thereof, is an important step towards reducing the impacts of Power Distance (PDI) on the success of business strategies. A position at odds with this understanding by Companies creates boundaries that increase organizational chasms, also taking into consideration relevant aspects such as, FSAs (Firm-Specific Advantages) and CSAs (Country-Specific Advantages). It is also important that the Organizations based in countries or regions of low Power Distance (PDI) between its individuals be more flexible and prepared to ask and to hear the suggestions from Regional and Local Offices. Thus, the purpose of this study is to highlight the elements of effective strategy implementation considering the relevant aspects at all levels of global corporate culture that justify the influences of power distance when implementing new strategies and also to minimize the impacts of this internal business relationship. This study also recognizes that other corporate and cultural aspects are relevant for the success of business strategies so consider, for instance, the lack of alignment between global and regional/local organizations, the need for competent leadership resources, as well as the challenges that indicate the distance between the hierarchical levels ─ Headquarters and Regional Office ─ as some of the various causes that prevent the successful execution of global strategies. Finally, we show that the execution of the strategy cannot be treated as a construction solely created by the Headquarters or by only one Board and that it needs to be understood as a system aimed at interacting with the surroundings.

On paternalistic leadership fit: exploring cross-cultural endorsement, leader-follower fit, and the boundary role of organizational culture

Although cross-cultural leadership research has thrived in international business literature, little attention has been devoted to understanding the effectiveness of non-western theories beyond their original contexts. The purpose of this study is to examine the cross-cultural endorsement of paternalistic leadership, an emerging non-western leadership theory, using data from GLOBE project. Using multigroup confirmatory factor analyses we found measurement equivalence of a scale derived from GLOBE’s data, which enabled us to compare the endorsement of paternalistic leadership dimensions across 10 cultural clusters and 55 societies. Our study revealed that there are significant differences in the importance societies give to each dimension, suggesting that paternalism as leadership style is not universally nor homogeneously endorsed. Furthermore, results suggest that different patterns of endorsement of each of these dimensions give rise to idiosyncratic shades of paternalistic leadership across societies. Implications for theory and future research on international business are discussed.

Da emigração entre continentes em Eça de Queiroz: da correspondência consular à obra literária

Nas últimas três décadas do século XIX, dado o estado de abatimento sentido no país, Eça de Queiroz, plenamente integrado no ambiente buliçoso e efervescente da sua geração, compara a situação de Portugal com a da Grécia, países que considera caóticos, dadas as políticas de rotina e sem imaginação que não conduzem o país ao desenvolvimento e ao progresso. De facto, Portugal não consegue acompanhar o ritmo dos outros países europeus e obriga os portugueses a emigrar. A principal característica da sua escrita é a ironia, aproximando-se da posição socrática, uma arma de intervenção intelectual, de cariz ético, vinculadora e libertadora, que lhe permite intervir e depurar problemas do seu tempo, procurando construir um Portugal como entendia que deveria ser. Durante o percurso de vida que permeia a publicação de As Farpas e de Uma Campanha Alegre, e na correspondência e a obra literária, Eça de Queiroz questiona o “sonho americano”, que muitos portugueses quiseram experimentar, e o brasileiro, no âmbito de uma vasta crítica à sociedade burguesa. A defesa da mudança do rumo da emigração portuguesa da América do Norte para o Brasil prende-se com a relação de ilusão/desilusão que marca a sua experiência consular em Havana e as viagens que faz. O pensamento do escritor e cônsul evolui para o entendimento da emigração, como a arte, é considerada uma das forças civilizadoras da humanidade. Muitas da suas personagens circulam entre o Velho e Novo Mundo, têm um pé dentro e outro fora do país, migram pelas mais variadas razões, fazendo retratos nas suas obras das suas movimentações, construindo uma estética sobre o país que se baseia na ética dos valores humanos que possui e na experiência que adquiriu.

Inovação tecnológica na indústria automobilística: características e evolução recente

O objetivo principal deste artigo é analisar as características básicas da evolução recente do processo de inovação tecnológica na indústria automobilística. A hipótese de trabalho é que estariam ocorrendo mudanças na intensidade do processo de inovação técnica nessa indústria. O ponto de partida é a observação de que, nos últimos anos, tem havido na indústria automotiva - provavelmente em decorrência da intensificação da concorrência setorial e de uma maior oportunidade tecnológica - tanto uma ampliação dos gastos em P&D quanto uma crescente incorporação da microeletrônica (nos produtos e nos processos produtivos). Finalmente, são feitas também algumas considerações procurando relacionar os resultados obtidos neste artigo com a discussão do processo de de-maturity (rejuvenescimento) industrial, proposto por Abernathy e outros autores.

A formação de joint ventures como alternativa para investimentos no setor sucroalcooleiro brasileiro

Pós-graduação em Direito - FCHS

O ciclo recente de expansão da indústria automobilístca brasileira (2003-2010) e comparações de aspectos selecionados com as respectivas indústrias automobilísticas dos demais BRICs

Pós-graduação em Economia - FCLAR

Tradução e adaptação transcultural do Caregiver Priorities and Child Health Index of Life with Disabilities Questionnaire (CPCHILD©) para a lingua portuguesa do Brasil

Pós-graduação em Bases Gerais da Cirurgia - FMB

Avaliação da qualidade dos serviços hospitalares com a adaptação do modelo SERVQUAL em dois hospitais de Bauru - SP

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

A fruticultura no Nordeste semiárido: internacionalização, conflitos territoriais e a precarização do trabalho

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)