Investigando o fracasso em negociações de F&A: a perspectiva de negociadores no Brasil

Por qué las negociaciones de fusión colapsan – un estudio exploratorio sobre los factores que llevan al fracaso en fusiones y adquisiciones desde la perspectiva de profesionales que actúan en Brasil. Una pregunta básica ha estimulado este estudio: después de todo el esfuerzo, expectativas y dinero normalmente invertidos en dealmaking, ¿por qué tantas transacciones son simplemente abandonadas, incluso cuando los beneficios son claros para la empresa, accionistas, clientes y empleados?Por que as negociações de fusão entram em colapso – um estudo exploratório sobre os fatores por trás dos "pés frios de casamento" e fracassos nas negociações em fusões e aquisições a partir da perspectiva dos profissionais atuantes no negócio no Brasil. Uma pergunta básica incentivou este estudo: Após todo o esforço, expectativas e dinheiro normalmente investidos em dealmaking, porque tantas transações são simplesmente abandonadas, mesmo quando os benefícios são claros para a empresa, acionistas, clientes e funcionários?Why do merger talks collapse? – an exploratory study about the contributing factors behind ‘wedding cold feet' and deal making failures in Mergers and Acquisitions according to the perspective of active deal making professionals in Brazil. One basic question has encouraged the present study: after all the effort, expectations and money often invested in deal making, why are M&A transactions simply abandoned, even when the benefits to the business, shareholders, customers and employees seem to be clear

Trust within the Organizations of the New Economy: an Empirical Analysis of the Consequences of Institutional Uncertainty

This study investigates the effects of different institutional frameworks on the levels of trust within hierarchies. Following the insight into the changing of labour contracts provided by New Economy theorists and International Labour Organization [ILO] reports, this study investigates the possible differences in the levels of trust between two paradigms: the Old Economy and the New Economy. We argue that singular institutional changes which better characterize the New Economy in the form of environmental uncertainty set considerable constrains on trust development. By approaching trust as a dependent variable in a cross-industrial comparison, a questionnaire survey was carried out in Brazil accessing the levels of trust within seven Brazilian private companies. From the literature review and empirical observation of the reality of these organizations, companies were identified and classified into different groups. The study concludes that relative high institutional uncertainty considerably limits the development of trust levels within those companies operating in the New Economy

O papel mediador entre confiança e desempenho organizacional

This article seeks to contribute to the discussions about the relationship between trust and organizational performance from an economics perspective. We examine the mediation role between trust and organizational performance by approaching the role of trust as an element of informal coordination within the organizations. We observe that interpersonal trust is central element to better understand relational contracts, like labor contracts, and investments in the creation and maintenance of trust environments should observe an economic rationality. From a literature review, we conclude that trust is an essential element to the execution of specific organizational tasks, and we observe its mediating relationship with organizational performance, trying to better understand the necessity and the benefits of high and low trust social contexts.Neste artigo, busca-se contribuir para as discussões sobre a relação entre confiança e desempenho organizacional numa perspectiva econômica. Examinou-se o papel mediador entre confiança e desempenho organizacional a partir da análise da confiança como um elemento de coordenação informal dentro das organizações. Observou-se que a confiança interpessoal é um elemento central para a melhor compreensão dos contratos relacionais, como os contratos de trabalho, e que investimentos na criação e na manutenção de ambientes de trabalho baseados em confiança devem observar uma racionalidade econômica. Por meio de revisão na literatura para buscar compreender a necessidade e os benefícios de contextos sociais de alta e baixa confiança, concluiu-se que confiança é um elemento essencial para a execução de específicas tarefas organizacionais e observou-se sua relação mediadora com o desempenho.Este artículo pretende contribuir a los debates sobre el tema de la confianza interpersonal en las organizaciones de una perspectiva económica. Se examinó la relación entre la confianza y el desempeño organizacional a través del análisis del papel de la confianza como un elemento de coordinación informal en la ejecución de diversas tareas de organización. Hemos encontrado que la confianza interpersonal es fundamental para una mejor comprensión de los contratos relacionales, tales como contratos de trabajo, y las inversiones en crear y mantener un ambiente de trabajo basado en la confianza debe cumplir con la racionalidad económica. A través de una revisión de la literatura, se concluye que la confianza es un elemento esencial para la ejecución de determinadas tareas de organización, y observamos su relación con el mediadora con el desempeño, tratando de comprender la necesidad y beneficios de los contextos sociales de alta y baja confianza

The influence of a consultative leadership style in the trust and commitment relationships in the Special Police Operations Battalion (Batalhão de Operações Policiais Especiais) of Rio de Janeiro

Este trabalho foi desenvolvido com ojetivo de compreender a influência de uma liderança consultiva nas relações de confiança e comprometimento dentro de uma unidade de operações especiais, mais especificamente no Batalhão de Operações Policiais Especiais da Polícia Militar do Estado do Rio de Janeiro, Brasil. Apresentam-se os resultados de um estudo em que se utilizaram métodos quantitativos e qualitativos, com entrevistas em profundidade e questionários estruturados. A amostra é composta por 128 respondentes, de um total de 400 policiais. Os resultados apontam para uma relação direta entre um estilo de liderança consultivo e as confianças pessoal e profissional no líder. Conclui-se que liderança e confiança explicam parcialmente a qualidade da coordenação informal nas equipes da unidade, e são esses mesmos fatores que explicam a propensão ao risco extremo para as operações e o foco em resultados.This work was developed with the aim of understanding the influence of a consultative leadership in the relations of confidence and commitment within a special operations unit, specifically in the Special Operations Battalion of Military Police of the State of Rio de Janeiro. We present the results of a study that used quantitative and qualitative methods, with in depth interviews and structured questionnaires. The sample was composed of 128 respondents from 400 police officers. The results point out to a direct relationship between a consultative leadership style, and personal and professional confidence in the leader. We conclude that leadership and trust can explain partially the quality of the informal coordination of these teams in this police unit, and are the factors that explain the propensity to take extreme risk in the operations with focus on results.Este trabajo fue desarrollado con el objetivo de comprender la influencia del liderazgo consultivo en las relaciones de confianza y compromiso dentro de una unidad de operaciones especiales, más específicamente en el Batallón de Operaciones Policiales Especiales de la Policía Militar del estado de Río de Janeiro, Brasil. Se presentan los resultados de un estudio en que se utilizan métodos cuantitativos y cualitativos, con entrevistas en profundidad y cuestionarios estructurados. La muestra se compone de 128 encuestados, de un total de 400 policías. Los resultados indican una relación directa entre un estilo de liderazgo consultivo y la confianza personal y profesional en el líder. Se concluye que el liderazgo y la confianza explican parcialmente la calidad de la coordinación informal en los equipos de esta unidad de policía, y son estos mismos factores que explican la propensión al riesgo extremo para las operaciones y el enfoque en resultados

Antimicrobial resistance among migrants in Europe: a systematic review and meta-analysis

BACKGROUND: Rates of antimicrobial resistance (AMR) are rising globally and there is concern that increased migration is contributing to the burden of antibiotic resistance in Europe. However, the effect of migration on the burden of AMR in Europe has not yet been comprehensively examined. Therefore, we did a systematic review and meta-analysis to identify and synthesise data for AMR carriage or infection in migrants to Europe to examine differences in patterns of AMR across migrant groups and in different settings. METHODS: For this systematic review and meta-analysis, we searched MEDLINE, Embase, PubMed, and Scopus with no language restrictions from Jan 1, 2000, to Jan 18, 2017, for primary data from observational studies reporting antibacterial resistance in common bacterial pathogens among migrants to 21 European Union-15 and European Economic Area countries. To be eligible for inclusion, studies had to report data on carriage or infection with laboratory-confirmed antibiotic-resistant organisms in migrant populations. We extracted data from eligible studies and assessed quality using piloted, standardised forms. We did not examine drug resistance in tuberculosis and excluded articles solely reporting on this parameter. We also excluded articles in which migrant status was determined by ethnicity, country of birth of participants' parents, or was not defined, and articles in which data were not disaggregated by migrant status. Outcomes were carriage of or infection with antibiotic-resistant organisms. We used random-effects models to calculate the pooled prevalence of each outcome. The study protocol is registered with PROSPERO, number CRD42016043681. FINDINGS: We identified 2274 articles, of which 23 observational studies reporting on antibiotic resistance in 2319 migrants were included. The pooled prevalence of any AMR carriage or AMR infection in migrants was 25·4% (95% CI 19·1-31·8; I2 =98%), including meticillin-resistant Staphylococcus aureus (7·8%, 4·8-10·7; I2 =92%) and antibiotic-resistant Gram-negative bacteria (27·2%, 17·6-36·8; I2 =94%). The pooled prevalence of any AMR carriage or infection was higher in refugees and asylum seekers (33·0%, 18·3-47·6; I2 =98%) than in other migrant groups (6·6%, 1·8-11·3; I2 =92%). The pooled prevalence of antibiotic-resistant organisms was slightly higher in high-migrant community settings (33·1%, 11·1-55·1; I2 =96%) than in migrants in hospitals (24·3%, 16·1-32·6; I2 =98%). We did not find evidence of high rates of transmission of AMR from migrant to host populations. INTERPRETATION: Migrants are exposed to conditions favouring the emergence of drug resistance during transit and in host countries in Europe. Increased antibiotic resistance among refugees and asylum seekers and in high-migrant community settings (such as refugee camps and detention facilities) highlights the need for improved living conditions, access to health care, and initiatives to facilitate detection of and appropriate high-quality treatment for antibiotic-resistant infections during transit and in host countries. Protocols for the prevention and control of infection and for antibiotic surveillance need to be integrated in all aspects of health care, which should be accessible for all migrant groups, and should target determinants of AMR before, during, and after migration. FUNDING: UK National Institute for Health Research Imperial Biomedical Research Centre, Imperial College Healthcare Charity, the Wellcome Trust, and UK National Institute for Health Research Health Protection Research Unit in Healthcare-associated Infections and Antimictobial Resistance at Imperial College London

Surgical site infection after gastrointestinal surgery in high-income, middle-income, and low-income countries: a prospective, international, multicentre cohort study

Background: Surgical site infection (SSI) is one of the most common infections associated with health care, but its importance as a global health priority is not fully understood. We quantified the burden of SSI after gastrointestinal surgery in countries in all parts of the world. Methods: This international, prospective, multicentre cohort study included consecutive patients undergoing elective or emergency gastrointestinal resection within 2-week time periods at any health-care facility in any country. Countries with participating centres were stratified into high-income, middle-income, and low-income groups according to the UN's Human Development Index (HDI). Data variables from the GlobalSurg 1 study and other studies that have been found to affect the likelihood of SSI were entered into risk adjustment models. The primary outcome measure was the 30-day SSI incidence (defined by US Centers for Disease Control and Prevention criteria for superficial and deep incisional SSI). Relationships with explanatory variables were examined using Bayesian multilevel logistic regression models. This trial is registered with ClinicalTrials.gov, number NCT02662231. Findings: Between Jan 4, 2016, and July 31, 2016, 13 265 records were submitted for analysis. 12 539 patients from 343 hospitals in 66 countries were included. 7339 (58·5%) patient were from high-HDI countries (193 hospitals in 30 countries), 3918 (31·2%) patients were from middle-HDI countries (82 hospitals in 18 countries), and 1282 (10·2%) patients were from low-HDI countries (68 hospitals in 18 countries). In total, 1538 (12·3%) patients had SSI within 30 days of surgery. The incidence of SSI varied between countries with high (691 [9·4%] of 7339 patients), middle (549 [14·0%] of 3918 patients), and low (298 [23·2%] of 1282) HDI (p < 0·001). The highest SSI incidence in each HDI group was after dirty surgery (102 [17·8%] of 574 patients in high-HDI countries; 74 [31·4%] of 236 patients in middle-HDI countries; 72 [39·8%] of 181 patients in low-HDI countries). Following risk factor adjustment, patients in low-HDI countries were at greatest risk of SSI (adjusted odds ratio 1·60, 95% credible interval 1·05–2·37; p=0·030). 132 (21·6%) of 610 patients with an SSI and a microbiology culture result had an infection that was resistant to the prophylactic antibiotic used. Resistant infections were detected in 49 (16·6%) of 295 patients in high-HDI countries, in 37 (19·8%) of 187 patients in middle-HDI countries, and in 46 (35·9%) of 128 patients in low-HDI countries (p < 0·001). Interpretation: Countries with a low HDI carry a disproportionately greater burden of SSI than countries with a middle or high HDI and might have higher rates of antibiotic resistance. In view of WHO recommendations on SSI prevention that highlight the absence of high-quality interventional research, urgent, pragmatic, randomised trials based in LMICs are needed to assess measures aiming to reduce this preventable complication

Relações de confiança nas empresas da nova economia informacional: uma avaliação dos efeitos da incerteza sobre o comportamento organizacional

Este artigo parte de uma perspectiva da economia das organizações para abordar o tema confiança como um mecanismo implítico de controle dentro das empresas. O objetivo principal é estabelecer uma relação entre os efeitos das inovações institucionais que caracterizam uma Nova Economia Informacional, e possíveis variações dos níveis de confiança dentro das empresas. Numa perspectiva comparativa, busca-se caracterizar o ambiente das empresas da indústria das tecnologias da informação e comunicação e outras empresas de industrias mais tradicionais da chamada Velha Economia. A hipótese central é que níveis inferiores de confiança poderão ser identificados nestas empresas que atuam mais proximas do paradigma da Nova Economia Informacional. Assim, o artigo sugere um conjunto de proposições para investigação empírica posterior

Trust within Brazilian new economy organizations: an empirical investigation of gender effects benchmarked on Brazilian old economy organizations

It has been suggested that one of the negative aspects of the New Economy has been growing organizational survival-risk both at the firm and the sector levels. This precarious positioning of the firm has profoundly changed the work environment resulting in the dissolution of job-definition-boundaries, thereby raising the intensity of work and finally affecting the level and nature of trust in the workplace. This is the starting point for our study. Using a questionnaire developed by Gillespie, we investigated gender profiles concerning trust in Supervisors, Peers, and Team in the New and the Old Economies for Brazilian managers. The results show that, for the New Economy, Brazilian women are more willing to give trust to Supervisors whereas Brazilian men expressed higher levels of trust when dealing with Team members. The Peer results are mixed. For the Old Economy, men uniformly express higher levels of trust compared to women over all three reference groups. Finally, for gender matched comparisons, those working in the Brazilian Old Economy firms express higher levels of trust compared to their counterparts in the New Economy independent of gender or time worked. We conclude by discussing the control implications of the above results