The first article was aimed at analysing the opportunities for financial performance in Brazilian and Chilean family businesses. To do so, Mara Vogt, Taciana Rodrrígues de Souza; Tarcísio Pedro da Silva (Universidade Regional de Blumenau, Brazil); Fábio José Diel (Universidade Comunitária Regional de Chapecó, Brazil) and Itzhak David Simão Kaveski (Universidade Federal de Mato Grosso do Sul, Brazil) who performed descriptive, documentary and quantitative research using a sample of 32 Brazilian and Chilean family businesses during the period 2008-2012. The results of analysis of the Brazilian family businesses were of no statistical significance in the periods under study. On the other hand, two variables (total assets and indebtedness) were significant in the case of Chile. With respect to the relationship between Brazil and Chile, the lower the ROA in Brazilian and Chilean family businesses, the greater the benefit in maintaining it.
In the following article María Cantero Sáiz, Sergio Sanfilippo Azofra, María Begoña Torre Olmo and Carlos López Gutiérrez (Universidad de Cantabria, Spain) analyse the effects of sovereign risk on the transmission of monetary policy in the Eurozone through bank credit. The onset of the sovereign debt crisis in 2010 led to a growing concern about sovereign risk, especially in the peripheral European countries (Spain, Portugal, Ireland, Italy and Greece). The authors believe that the perception of a greater sovereign risk has been detrimental to the financing conditions of the banking sector, leading to imbalances in the process of cross-border monetary transmission.
In the opinion of Juan Emilio Cheyre (Pontificia Universidad Católica de Chile), Latin America has emerged from the chronic political and economic instability that plagued it for decades. However, the region has a security problem, especially in Central America and the Caribbean. The author believes that new threats to security have arisen that were not taken into account by traditional considerations of the subject and which originate in various causal factors. These threats affect the internal order of states concerned. The result is distrust of the people towards the policing, judicial and political institutions. This new scenario is one of the great challenges for the region's governments, which must find the solution to this scourge.
Pedro Ylunga Costa da Silva (PricewaterhouseCoopers, Angola), Ilse Maria Beuren (Universidade Federal de Santa Catarina, Brazil), Raquel Wille Sarquis and Gerlando Augusto Sampaio Franco de Lima (Universidade de São Paulo, Brazil) analyse the level of homogeneity between social indicators published by the member countries of the United Nations Economic Commission for Latin America and the Caribbean. They study the social indicators for the period 2010-2012 provided by the Brazilian Institute of Geography and Statistics for 18 of the 44 member countries using correspondence analysis statistical techniques. The results show that the selected variables are grouped in two dimensions, quality of life and nutritional quality. The authors identify four groups with homogeneous features in the perceptual map of variable categories and four groups of countries with similar features in their social indicators in the perceptual map of the objects by country.
The goal of the study by Nádia Campos Pereira Bruhn (University of Goiás, Brazil), Cristina Lelis Leal Calegario and Melina Campos Pereira (University of Lavras, Brazil) is to investigate whether and in what situations, a foreign presence can represent an advantage for the local economy. Data was analysed using generalised linear models for repeated measures combining the effects of the type of controlling capital and the different Brazilian regions on selected variables. In addition, GLM models of analysis were developed to seek to identify the effects of spillovers ("transbordamentos") of foreign presence based on a production function. The authors conclude that there is no evidence that the type of controlling capital exerts a significant influence on the occurrence of spillovers. The region where foreign (entities) set themselves up is a relevant factor in the analysis of spillovers.
In the final article, Harrison Bachion Ceribeli y Carolina Áurea Matos de Almeida (Universidade Federal de Ouro Preto, Brazil) describe the implementation process and competency management practices adopted in a large organisation in Brazil. The case study was conducted in a company in the steel-making sector and data collection was carried out by documentary research and interviews with human resource managers in the company. As results, the authors describe the main competency management implementation tools in the company under study: key skill mapping, the development assessment tool and the new remuneration and careers model.
We would like to reiterate our thanks to all who contribute to making this magazine such a success: the members of the Advisory Board, Editorial Board, Editors and Associate Area Editors, reviewers, authors and especially readers.