STRATEGIC ALIGNMENT THROUGH COMPETITIVE PRIORITIES IN CAPITAL GOODS COMPANIES

The purpose of this paper is to ascertain the strategic alignment of companies producing capital goods and deploying competitive priorities, from the standpoint of dyadic relationships.  To collect the data, semi-structured questionnaires were used for a sample consisting of 113 respondents from 87 companies producing capital goods, all operating in Brazil. The data were analyzed using non-parametric statistical techniques. More specifically, an analysis of Kendall’s coefficient of concordance (W) showed that product (or component) price and performance are the main competitive priorities for companies in this sector. Thus, evidence was found that companies producing capital goods are strategically aligned from the standpoint of dyadic relationships with their suppliers and customers, with price being the main criterion, depending on the downstream focus of the company, through the performance of the product (or component)

Financial Literacy to Overcome Crises

O projeto busca, por meio de uma linguagem simples e objetiva, apresentar informações e orientações que subsidiem processos de tomada de decisão mais fundamentadas. São conduzidas atualizações e adaptações à discussão estabelecida em Kimura (2019), considerando-se o contexto do “novo normal”, em que o ambiente de negócios e consequentemente a perspectiva financeira de famílias se alteram substancialmente

CRIAÇÃO DE VALOR ATRAVÉS DA ESTRATÉGIA DE PROCRASTINAÇÃO

This research considers a mathematical model for pricing the procrastination option. The concept of procrastination will be discussed from the point of view of Psychology, Economy, Finance and Strategy. The maximum limit of the strategy of procrastination will be investigated, considering the cash flow loss due to the possible first move of the competition and considering the benefit of the reduction of uncertainty due to the information that becomes available as time passes. A simulation will be presented aiming to establish the benefits of the optimum exercise of the option. The results, amongst others, suggest that one must delay projects in environments in which the costs of procrastination, measured by a salience parameter, are low; the factor of decline of the cash flows of projects is low and the increment of risk in the short term is high. The limitations of the study and the applicability of the model for the Brazilian reality are also discussed.

Methods for financial assessment of renewable energy projects: a review

The financial evaluation of renewable energy sources (RES) projects is well explored in the literature, but many different methods have been followed by different authors. Then, it is important to understand if and how these methods have been changing and what factors may have driven new approaches. Therefore, this article aims to explore the publications on the financial evaluation of RES projects from 2011 to 2020 and to present a critical analysis of the reviewed literature. The methods for evaluating RES projects were grouped into four categories: (i) traditional metrics based on net present value, internal rate of return, and payback period; (ii) levelized cost of electricity; (iii) return on investment approach; and (iv) real options analysis. A quantitative analysis was carried out considering aspects related to the relevance of the authors, productivity by country, and the most relevant journals for each of these groups. Then, a qualitative analysis of the main characteristics of the five most cited articles in each group was conducted. The results show that the more traditional methods are still widely used for the financial evaluation of RES projects. However, approaches based on the levelized cost and real options have been growing in importance to tackle the complex features of financial evaluation and comparison of RES projects.- (undefined

Economic evaluation of wind power projects in a mix of free and regulated market environments in Brazil

The electricity market in Brazil is basically organized under two parts: the regulated market, where energy is traded through auctions, and the free market, where market participants freely negotiate the price and quantity of electricity. Although revenues obtained in the regulated market tend to be lower than in the free market, the auctions’ results show that investors still value the lesser degree of uncertainty associated with the regulated market. However, a growing interest in the free market by investors is recognized since the price of electricity tends to be higher. Therefore, this study investigates four free market price scenarios to assess the expected return for investors, using the traditional discounted cash flow approach complemented with Monte Carlo simulation to address market uncertainty. The study breaks new ground by capturing the weekly price fluctuations and including the price elasticity of demand of the free market. The results seem to indicate that the disclosure of the ceiling and floor price limits for the spot price can signal important information about the agents’ price expectation in the free market and can be used for investment project evaluation

O ALTRUÍSMO NAS ORGANIZAÇÕES: INTERAÇÃO E SELEÇÃO NATURAL

The objective of this article is to investigate whether, despite of the goal of utility maximization defended by the neo-classic economic theory, the altruism can prevail inside organizations. Initially, one brief discussion of the altruism will be presented, analyzing this concept from some perspectives, from its sociological roots, its deployments in the organizational theory, passing through approaches from biology and economy. It is discussed that the evolution dynamics of the biology and the mechanism of the game theory make possible the construction of a mathematical structure that, under determined premises, serves as a useful model to describe the process of the prevalence of the altruism in the organizations. Through simulations using the mathematical model, we can identify that, given the conditions of the prisoner's dilemma and the assumptions of unconditional imitation, the altruism can survive in an organizational environment. In addition, the model shows that the organizations can be infected by the altruistic behavior: egoistic individuals can either be excluded from the group due to lack of adaptation to the environment or try to imitate the behavior of the altruists to make possible his survival.

Avaliação do Desempenho das Unidades da Fundação Hemominas por meio da Análise Envoltória de Dados

O desempenho organizacional no âmbito governamental pode ser explanado em relação aos serviços ofertados como gestão eficaz, redução de custos e benefícios ao cliente/usuário/cidadão. A analise do desempenho das instituições públicas é condição precípua para a tomada de decisão endógena e exógena, bem como na formulação e implementação de políticas públicas eficientes. A Análise Envoltória de Dados (DEA) traduz eficientemente este posicionamento no contexto da eficiência técnica, de escala e alocativa ao identificar as unidades produtivas eficientes e ineficientes. Este artigo busca contribuir na discussão de eficiência das unidades da Fundação Hemominas em Minas Gerais, fazendo uma classificação de eficiência utilizando a DEA e ainda, verificar o grau de paridade entre eficiência operacional e eficiência financeira. Na análise de eficiência operacional utilizando a DEA, utilizamos como inputs, o volume total de sangue coletado, numero de empregados e a despesa com insumos, como outputs utilizamos total de hemocomponentes produzidos, total de hemocomponentes descartados e total de serviços clínicos efetuados. Para eficiência financeira, os inputs foram, a despesa total menos a despesa com pessoal, a despesa com pessoal dividida pelo número de funcionários, para os outputs utilizamos a receita arrecadada e as despesas orçamentárias executadas. Os resultados demonstraram fraca significância estatística entre eficiência operacional e eficiência financeira. Almejamos que os resultados sirvam como substrato de análise e discussão pelos gestores das unidades averiguadas e da Fundação Hemominas no que concerne ao uso, alocação e disposição eficiente do erário com vistas a salvar vidas e atender os clientes/usuários/cidadãos que necessitam dos serviços especializados e hemocomponentes