Resumo em Inglês:

Abstract Market analysts, by means of issuance of their opinions (earnings per share, target prices, and recommendations), have been the object of several earlier studies. Previous literature identifies analysts as information intermediaries between companies and investors, and identifies their role in reducing the information asymmetry. This study investigates whether the estimated standard deviations of price-target shares issued by capital market analysts are informative, and ascertains whether it is possible to identify smaller errors in analysts' forecasts from the verification of the consensus among them. The study is carried out in Latin American countries, and relies on a database of 23,367 estimates of target-price shares during the period from October 2010 to January 2017. It also takes into account the number of analysts who issued the estimates, the company market value, and the government effectiveness between the countries. The results indicate that the greater the consensus (smaller standard deviation), the smaller the forecast errors. Thus, the standard deviation of target-price estimates presents an informative tool to investors about forecast accuracy. Another important result shows that the greater the government effectiveness, the greater the forecast accuracy of target-price estimates issued by the analysts.

Resumo em Inglês:

Abstract The literature about collaboration for innovation has reported fundamental activities performed by intermediaries. In this paper, universities' technology transfer offices (TTOs) are placed as intermediaries between academic research and the industry. Our study focuses on collaborative research and development (R&D) projects between universities and industry in order to understand the roles of TTOs throughout the whole duration of the project. The main aim of this paper is to identify the roles of TTOs throughout collaborative R&D projects and suggest some lessons for Brazilian TTOs based on the experience of the United Kingdom. Through qualitative case studies in the United Kingdom and Brazil, the analyses show that both TTOs performed critical activities for collaborative R&D projects. Similar activities at both TTOs were the management of partnerships in terms of negotiating contracts and the protection and licensing of intellectual property. Findings also show that the search for partners in the beginning of the project, the pacifier role of the TTO to help mutual understanding, and the active commercialisation of academic research to external partners happened only in the UK case, which may generate implications for TTOs in Brazil.

Resumo em Inglês:

Abstract This study aims to measure the degree of operational risk disclosure and examine its impact on operating cash flow of banks listed on the UAE Abu Dhabi Stock Exchange (ADX) and Dubai Financial Market (DFM) during the period 2003-2016. The authors conducted content analysis of the annual reports to measure the degree of operational risk disclosure. In addition, they used dynamic panel data regressions to analyze the impact of operational risk disclosure on the operating cash flow generated by the banks. The results show a low degree of operational risk disclosure for all UAE banks, both Islamic and conventional. In addition, the results show no association between the levels of disclosure of operational risk and cash flow for all banks, conventional and Islamic. Operational risk disclosure of Islamic banks has not been examined by any prior researchers. In addition, this paper examines the potential impact of operational risk disclosure on the operating cash flow generated by the banks.

Resumo em Inglês:

Abstract Public sector managers and researchers have emphasized the importance of performance measurement. Nevertheless, few theoretical and empirical studies are found in Brazilian Judiciary Courts’ literature. In order to empirically identify which variables (IT investments, own or outsourced human capital) are more relevant for improving productivity, the current research proposes a model using secondary data extracted from the Justiça em Números (Justice in Numbers) report, using structural equation modeling for the analysis. The results suggest that: (a) all variables are relevant for improving productivity in Brazilian Courts, confirming our first three theoretical hypotheses; and (b) own human capital has a greater impact on productivity than outsourced, confirming the fourth. For those who are responsible for reforms, this finding indicates that IT is not the most important investment. However a question remains: Seen as a cure for almost all problems in the public sector, is it possible to improve performance without hard IT investments? For future research there are some additional questions: Why is own human capital more relevant than outsourced? Which variables should be included in the model for improving the general significance? The answers can help improve Brazilian court productivity.

Resumo em Inglês:

Abstract Executive coaching is a common leadership development intervention whose complexity is underestimated. The triangular relationships between coachee, coach, and organization give rise to conflicting interests (Fatien-Diochon, 2012). This study examines how coaches perceive triangular relationships and reflect on conflicts of interest and ethical issues. During semi-structured interviews, nine coaches drew their interpretations of how triangular relationships unfold in executive coaching processes. Coaches’ explanations were categorized into three groups. There are coaches who understand executive coaching as a harmonious and congruent process, called naïve; some coaches rely on the coaching process to deal with conflicts of interest, and we called them procedural. Other coaches are skeptical when dealing with conflict of interests in triangular relationships, and were called suspicious. In order to support coaches facing ethical dilemmas that may be present in triangular relationships in the executive coaching process, the ethics of the profession perspective developed for the educational sector by Shapiro and Stefkovich (2016) was adapted and integrated into Carroll and Shaw’s (2013) ethical maturity perspective. This adapted model offers coaches an integrative and dynamic view to foster their development and ethical maturity.