ResumoHá um crescente interesse de pesquisadores em compreender conceitos localmente relevantes, e não importados de outras culturas, chamado de abordagem indígena de gestão (indigenous management). Seguindo essa linha de pensamento, este artigo realizou uma análise da literatura socioantropológica e de estudos organizacionais sobre a cultura brasileira, que resultou em uma síntese de cinco traços característicos da nossa sociedade: Hierarquia, Ambiguidade, Malandragem, Jeitinho e Sociedade Relacional. Com foco em dois traços: Jeitinho e Sociedade Relacional, o artigo buscou identificar e analisar a incidência de ambos na gestão de uma organização financeira. Um questionário, com escalas do tipo Likert, foi desenvolvido e aplicado em uma amostra de 303 funcionários. Os resultados evidenciaram o Jeitinho descrito por uma estrutura de três dimensões: contorno de regras, flexibilização e estratégia informal de resolução de problemas. A Sociedade Relacional, por sua vez, foi composta por quatro dimensões: pessoalidade, relações afetivo-familiares, predominância da confiança sobre as relações impessoais e predominância do relacionamento pessoal sobre o profissional. Independentemente de variáveis sociodemográficas, o Jeitinho foi identificado como uma prática social comum, e a Sociedade Relacional como um ambiente que favorece a utilização do Jeitinho.

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Capítulo 3: Análisis de costeo aplicado a un sistema de producción de aceite vegetal: Estudio de caso .

Purpose: Explain the causes of inefficiencies in asset pricing on the Brazilian stock exchange through the behavioral finance hypothesis. Originality/value: Research made in the stock market over the last decades suggests that there is evidence of obtaining returns above the market average, through the purchase of undervalued assets, that is, when it has a low relation between the price and the fundamentals of the company. However, there is a notable discrepancy regarding the interpretation of causes among academics. The efficient markets hypothesis was presented, which is based on the premise of the strict rationality of economic agents. On the other hand, the behavioral finance theory was also discussed, which presents different assumptions. Design/methodology/approach: Using the historical quotes of the shares traded on B3, extracted from economática(r)'s database, the present work used the Magic Formula methodology to investigate the behavioral effect through the inefficiencies found in the pricing of these assets. Findings: The results suggest that the Brazilian stock market, in conformity with works of the same nature performed in markets in other countries, has inefficiencies in the pricing of assets, so that it is possible to obtain advantages from economic agents. The interpretation for the causes of such inefficiencies is based on the premises of behavioral finance, and points to the existence of a limitation in the rationalization of these agents.

Introduction/Problematization: to analyze in what terms the various measures of profitability of companies: financial indicators, generation of value such as -EVA®, and value attributed by the market -market value, are related to each other. On the other hand, the globalization of capital markets has increased the pressure on companies to adopt and strengthen corporate governance practices. Would the adoption of governance practices also be an influencing factor in the creation of value for companies? Objective/proposal: to investigate the behavior of publicly traded Brazilian companies in relation to the different types of profitability calculation: economic return (RE), value addition (EVA®) and market value (MV), in the period from 2015 to 2019, as well as to identify if there was influence of corporate governance practices (GC) implemented by companies, in these results, in addition to a possible influence of the sector of activity. Methodological procedures: The study was carried out on a sample of 182 publicly traded Brazilian companies from 2015 to 2019. The EBIT and Net Income indexes were collected, as well as data for calculating the NOPAT and Cost of Debt indicators, in addition to market value. For corporate governance, B3's governance levels were used. Descriptive statistics used: Average, Standard deviation, Coefficient of variation, covariance and correlation; and the inferential, simple regression by the method of ordinary least squares. Main results: In the sample, the Coefficient of variation resulted around 5 times, high amplitude. The correlation was strongly positive between MV, LL and EBIT; the EVA® was strongly Negative. In the regression, MV was explained by EBIT with R² of 0.61 and LL of 0.23. The EVA was Negative with R² of 0.31. In the evolution of indicators over time, 51% of the sample generates RE and MV Positives. 20% generate only MV Positives and 15% generate RE, MV and EVA Positives. Differentiated level of GC is present in 70% of the sample; of these, 91% generate MV Positive, 71% generate RE Positive, and only 13% generate EVA® Positive. Conclusion:In the evolution of profitability, there was a predominance of MV, followed by RE. It is noteworthy that the EVA® obtained a negative correlation with RE and VM. In this way, the generation of value did not corroborate with the economic profit or how the market perceives the company. Observed that the MV has a strong relationship with RE. Companies with differentiated GC are also highlighted in the sample, especially in cases where MV resulted Positive. Results were achieved that partially corroborate with other studies cited in this study. The results and analyzes performed are limited to the sample, period and tools used. Work Contributions: It is possible to infer that the companies that presented Positive levels of RE were well evaluated by the market, as well as those that had a differentiated level of GC. This result goes against the common sense that the market is not concerned with the past results of companies, but only with...