Business cycle and bank loan portfolio performance : empirical evidence from brazilian banks

Este trabalho estuda os efeitos do crescimento econômico e da taxas de juros sobre o desempenho de carteiras de empréstimo dos bancos comerciais brasileiros no período de 2000 a 2010. Os resultados empíricos mostram que o crescimento econômico é o principal "driver" para o desempenho da carteira de crédito. Não foram encontradas evidências estatísticas sginificativas de mudanças na taxa de juros sobre o desempenho das carteiras de empréstimos. Além disso, há evidências empíricas de que o impacto do crescimento econômico sobre o desempenho da carteria de crédito tem efeito defasado de 2 trimestres. Por fim, os resultados mostram que alterações de PIB impactam de forma mais significativa o desempenho da carteira de crédito dos bancos comerciais brasileiros maiores. Devido ao efeito multiplicador do mercado de crédito, quanto maior o banco, maior a expansão relativa de sua carteira de crédito e, conseqüentemente a taxa de inadimplência da carteira, que é agravada pela concentração do mercado de crédito no Brasil.

Assessment of business incubators green performance: A framework and its application to Brazilian cases

The lack of proposals to evaluate the greening of business incubators or even of elementary discussions about the relations between incubators and the environment becomes apparent when researching this topic in the most prestigious scientific sources. To address this gap, this article reviews the literature on green management and smaller enterprises, business incubator performance and the greening of business incubators. This conceptual big-picture was used to identify variables relevant to the construction of a framework for assessing business incubators green performance. This framework was applied to six business incubators in Brazil. The results show the appropriated applicability of this framework. Furthermore, the empirical research led to the formulation of environmental maturity levels in order to classify business incubators performance. This paper seeks to offer a starting point for discussion and a proposal regarding the role of business incubators in a more sustainable society. © 2011 Elsevier Ltd. All rights reserved.

PERFORMANCE EVALUATION OF RESOURCE-AWARE BUSINESS PROCESSES USING STOCHASTIC AUTOMATA NETWORKS

In this work, we study the performance evaluation of resource-aware business process models. We define a new framework that allows the generation of analytical models for performance evaluation from business process models annotated with resource management information. This framework is composed of a new notation that allows the specification of resource management constraints and a method to convert a business process specification and its resource constraints into Stochastic Automata Networks (SANs). We show that the analysis of the generated SAN model provides several performance indices, such as average throughput of the system, average waiting time, average queues size, and utilization rate of resources. Using the BP2SAN tool - our implementation of the proposed framework - and a SAN solver (such as the PEPS tool) we show through a simple use-case how a business specialist with no skills in stochastic modeling can easily obtain performance indices that, in turn, can help to identify bottlenecks on the model, to perform workload characterization, to define the provisioning of resources, and to study other performance related aspects of the business process.

Business Clusters in Eastern Europe: Policy Analysis and Cluster Performance

Clusters have increasingly become an essential part of policy discourses at all levels, EU, national, regional, dealing with regional development, competitiveness, innovation, entrepreneurship, SMEs. These impressive efforts in promoting the concept of clusters on the policy-making arena have been accompanied by much less academic and scientific research work investigating the actual economic performance of firms in clusters, the design and execution of cluster policies and going beyond singular case studies to a more methodologically integrated and comparative approach to the study of clusters and their real-world impact. The theoretical background is far from being consolidated and there is a variety of methodologies and approaches for studying and interpreting this phenomenon while at the same time little comparability among studies on actual cluster performances. The conceptual framework of clustering suggests that they affect performance but theory makes little prediction as to the ultimate distribution of the value being created by clusters. This thesis takes the case of Eastern European countries for two reasons. One is that clusters, as coopetitive environments, are a new phenomenon as the previous centrally-based system did not allow for such types of firm organizations. The other is that, as new EU member states, they have been subject to the increased popularization of the cluster policy approach by the European Commission, especially in the framework of the National Reform Programmes related to the Lisbon objectives. The originality of the work lays in the fact that starting from an overview of theoretical contributions on clustering, it offers a comparative empirical study of clusters in transition countries. There have been very few examples in the literature that attempt to examine cluster performance in a comparative cross-country perspective. It adds to this an analysis of cluster policies and their implementation or lack of such as a way to analyse the way the cluster concept has been introduced to transition economies. Our findings show that the implementation of cluster policies does vary across countries with some countries which have embraced it more than others. The specific modes of implementation, however, are very similar, based mostly on soft measures such as funding for cluster initiatives, usually directed towards the creation of cluster management structures or cluster facilitators. They are essentially founded on a common assumption that the added values of clusters is in the creation of linkages among firms, human capital, skills and knowledge at the local level, most often perceived as the regional level. Often times geographical proximity is not a necessary element in the application process and cluster application are very similar to network membership. Cluster mapping is rarely a factor in the selection of cluster initiatives for funding and the relative question about critical mass and expected outcomes is not considered. In fact, monitoring and evaluation are not elements of the cluster policy cycle which have received a lot of attention. Bulgaria and the Czech Republic are the countries which have implemented cluster policies most decisively, Hungary and Poland have made significant efforts, while Slovakia and Romania have only sporadically and not systematically used cluster initiatives. When examining whether, in fact, firms located within regional clusters perform better and are more efficient than similar firms outside clusters, we do find positive results across countries and across sectors. The only country with negative impact from being located in a cluster is the Czech Republic.

Target difficulty, intra-year target revisions and firm performance: evidence from business units' targets

Target difficulty is often argued to increase performance. While this association is well established in experimental research, empirical evidence in field research is rather mixed. We attempt to explain this inconsistency by analyzing the importance of intra-year target revisions, which are especially prevalent in real-world field settings. Using survey and archival data from 97 firms, we find that firms with more challenging business unit targets revise targets more often, in line with asymmetric, downward target revisions. Results further show that the degree to which targets are revised during a period results in negative effects on firm performance, as the anticipation of revision negatively affects the business unit management’s performance incentives. Additionally, we find that using targets predominantly for either decision-making or control influences the overall performance effects of target revisions. Our findings may partially explain the mixed field study evidence regarding the effects of target difficulty.

Flexibility, innovation and sustainability in business models as determinants of firm performance heterogeneity.

La comprensión actual de la heterogeneidad de las empresas académico rendimiento en el entorno entra industria necesita un mayor desarrollo. Gestión estratégica y el discurso sobre la literatura empresarial necesita mayor explicación de por qué los modelos de negocio aparentemente similares en el mismo sector actúan de forma diferente. También qué factores del entorno sectorial y operativo determina el surgimiento y funcionamiento de los modelos de negocio sostenibles e innovadoras permanecen sin explorar. Un marco se conceptualiza acompañado de estudios de caso sobre la compañía aérea y las industrias de energía renovable. El estudio lleva a una visión basada en los recursos de los modelos de negocio que las empresas alcancen posiciones heterogéneas de recursos. Una explicación para la heterogeneidad firme desempeño que se busca por intermediación conocimiento que genera valor a partir de la utilización eficaz de los recursos de conocimientos adquiridos a entornos entra y inter-empresa. Un marco para la aparición de nuevos modelos de negocios verdes se conceptualiza y deducciones se obtienen mediante un estudio de caso sobre la base de la industria de biocombustibles de energías renovables para explicar la dinámica de los mercados verdes y cómo se puede crear valor sostenible y capturó e innovadora de los modelos de negocios verdes. El marco desarrollado proporciona una visión cíclica de la flexibilidad del modelo de negocio en la que se propaga la acumulación de recursos basada en el conocimiento del modelo de negocio a través de los ambientes dentro y inter-empresa. Estrategias de conocimiento de corretaje del resultado ambientes inter e dentro-firma en un mejor desempeño del modelo de negocio. La flexibilidad del modelo de negocio que adquiere está determinada por la eficiencia con la acumulación de recursos está alineado con su ambiente externo. Las características de la que el modelo de negocio alcanza ventajas competitivas, como la innovación y la flexibilidad se atribuyen a la heterogeneidad de los recursos. La investigación se extiende a la literatura orientación de servicio al conceptualizar y medir la orientación a servicios como un requisito clave para la innovación del modelo de negocio, mientras que aboga por la necesidad de identificar correctamente las competencias básicas de la empresa, especialmente relevante en el contexto de la empresa orientada a los servicios, donde la creación de valor requiere recursos y la prestación eficiente de los servicios. La investigación trata de llegar a una descripción de los modelos de negocio sostenibles verdes y argumenta que la innovación, la flexibilidad y la sostenibilidad son los tres habilitadores básicos de los cuales el concepto de modelo de negocio verde puede evolucionar la explotación de nuevos mecanismos de mercado y los mercados para crear y capturar valor en el mantenimiento de su innovadora ambiente externo. La investigación integra efectivamente los conceptos de corretaje de conocimientos y modelos de negocio a partir de un recurso basado en la acumulación de vista y al mismo tiempo llega a la heterogeneidad rendimiento de los modelos de negocio aparentemente similares dentro de la misma industria. La investigación indica cómo se producen perturbaciones del mercado en una industria como resultado de modelos de negocio innovador y flexible, y cómo los nuevos modelos de negocio evolucionan en base a estos trastornos. Avanza la comprensión de cómo la estrategia de núcleo competencia y la innovación del modelo de negocio construcciones se comportan en el esfuerzo de la empresa de servicios para obtener una ventaja competitiva sostenible. Los resultados tienen implicaciones en el rendimiento de las empresas que empiezan sin recursos distintos de los suyos, o que utilizan un modelo de negocio imitado, para lograr un mejor rendimiento a través de la evolución del modelo de negocio alineado con las exitosas estrategias de conocimiento de corretaje. Dicho marco puede permitir a las empresas a evaluar y elegir un modelo de negocio basado en la innovación, la flexibilidad, la sostenibilidad y las opciones para el cambio. La investigación se suma a la literatura acumulación de recursos, explicando cómo los recursos pueden ser efectivamente adquirida para crear valor. La investigación también se suma a la literatura empresarial verde, explicando cómo las empresas crear y capturar valor en los nuevos mecanismos dinámicos de mercado.

Impact of knowledge brokering on performance heterogeneity among business models

Purpose – The strategic management literature lacks a comprehensive explanation as to why seemingly similar business models in the same industry perform differently. This paper strives to explain this phenomenon. Design/methodology/approach – The model is conceptualized and accompanied by a case study on the airline industry to explain knowledge brokerage that creates value from the effective utilization of knowledge resources acquired from intra- and inter-firm environments. Findings – The model explains a cyclical view of business model flexibility in which the knowledge-based resource accumulation of the business model is spread across the intra- and inter-firm environments. Knowledge brokerage strategies from the inter- and intra-firm environments result in improved performance of the business model. The flexibility that the business model acquires is determined by how efficiently resource accumulation is aligned with its external environment. Originality/value – The paper effectively integrates the concepts of knowledge brokerage and business models from a resource accumulation-based view and simultaneously arrives at the performance heterogeneity of seemingly similar business models within the same industry. It has performance implications for firms that start out without any distinct resources of their own, or that use an imitated business model, to attain better performance through business model evolution aligned with successful knowledge brokerage strategies. It adds to the resource accumulation literature by explaining how resources can be effectively acquired to create value.

Development of task performance statements for a new office and business education learnings system (NOBELS)

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Mode of access: Internet.