Review of Business Management

The influence of transformational leadership for environmental sustainability on organizational citizenship behaviors

Roger da Silva Wegner — 2025-07-16

Purpose – To investigate the influence of transformational leadership for the environment (TLE) in the context of Brazilian industries, testing the hypothesis that workers engage in organizational citizenship behaviors (OCBs) through organizational citizenship behaviors for the environment (OCB-Es).

Theoretical framework – Transformational leadership for the environment and voluntary behaviors are essential elements for developing more efficient environmental management (Asghar et al., 2022; Li et al., 2022).

Design/methodology/approach – Using the perceptions of 1068 workers, a structural equation model (SEM) was created to test the hypotheses.

Findings – The results obtained in this study reveal four main findings. (1) TLE significantly influences OCB-Es. (2) TLE has a direct influence on OCBs; (3) OCB-Es significantly influence OCBs. (4) OCB-Es moderate the indirect influence of TLE on OCBs.

Practical & social implications of the research – It was noted that there is a need for Brazilian organizations to develop policies and practices aimed at people management and its interface with environmental management, enabling the qualification of workers in the topics and pointing to sustainability in the work environment. In addition, the constructs studied are useful for understanding workers’ perceptions of environmental performance, stimulating actions aimed at environmental improvement and providing opportunities for training that leads to the resolution of problems related to the environment.

Originality/value – The study offers suggestions to help leaders promote voluntary cooperative behavior among their subordinates, thereby reducing the pollution caused by Brazilian industries.

Data-Driven Marketing Image: Scale Development and Validation

Elena García-y-García — 2025-07-16

Purpose – This study develops and validates a measurement scale for assessing the corporate image of companies that use data-driven marketing in their decision-making and actions in online retailing.

Theoretical framework – The study is grounded in theories of corporate image and consumer behaviour, integrating concepts of data-driven marketing and privacy to develop the DDMI scale.

Design/methodology/approach – A mixed methods approach is employed, beginning with a deductive literature review and qualitative expert interviews to generate scale items, followed by a pilot study and a large-scale survey of 301 consumers via Amazon MTurk. Exploratory and confirmatory factor analyses are conducted to validate the scale.

Findings – DDM strategies significantly affect how customers perceive a company’s image. The DDMI provides a validated scale that measures aspects that are important to customers, such as privacy concerns and personalised customer experience. It reveals that effective communication, efficient payment processes and robust customer support are vital for a positive corporate image.

Practical & social implications – The study offers a novel tool to assess corporate image in environments characterised by high data usage. It enables companies to refine their DDM strategies by identifying how specific practices affect consumer perceptions.

Originality/value – This research introduces the first validated scale to measure consumer perceptions of corporate image in DDM contexts. It advances marketing theory by capturing key dimensions of the digital era, personalisation, privacy and support.

Sustainability and Genetic Algorithms: An Approach to Asset Portfolio Optimization

Sergio de Amaral — 2025-07-16

Purpose – This study aims to investigate the integration of climate change risk factors into asset portfolio optimization. Specifically, it seeks to evaluate the impact of maximizing sustainability on portfolio performance, and whether a balanced approach between profitability and sustainability can be achieved.

Theoretical framework – The research is based on the Markowitz portfolio selection model combined with the principles of sustainable finance. A genetic algorithm is used to optimize asset allocation while incorporating sustainability metrics.

Design/methodology/approach – A quantitative research method using a genetic optimization algorithm is employed to assess the effects of integrating a sustainability index into portfolio selection. The study compares traditional financial performance metrics with results incorporating climate change risk factors.

Findings – The findings reveal that while maximizing sustainability may lead to short-term reductions in profitability, a balanced approach that integrates sustainability considerations can enhance long-term profitability. This balance enables investors to meet both financial goals and environmental responsibilities.

Practical & social implications – The research contributes to the sustainable finance literature by offering insights into optimizing portfolios with ESG integration. Practically, it provides investors with strategies for aligning profitability and sustainability to promote economic growth while supporting environmental and social well-being. Future research could explore sector-specific implications and the different impacts of sustainability criteria.

Originality/value – This study presents an innovative approach to asset portfolio optimization, advancing both the theoretical understanding of sustainable finance and providing practical tools for investors seeking to integrate climate change factors without compromising financial performance.

Audit Characteristics and the Likelihood of Occurring Financial Reports Suspicious of Fraud

Rubia Frehner Poffo — 2025-07-16

Purpose – Analyze the relationship between audit characteristics and the likelihood of occurrence of financial reports suspected of fraud in companies.

Theoretical framework – Agency Theory

Design/methodology/approach – Descriptive, documentary and quantitative research, using the methods of Approximate Set Theory, k-means cluster analysis and logistic regression. The sample consists of 211 Brazilian companies listed on [B]3, considering the years between 2016 and 2021, from the Refinitiv database.

Findings – The results indicate that Big Four audits reduce the chances of fraudulent-like financial reporting (FLFR) in Brazil, providing greater security to stakeholders. However, changing auditing practices and the financial independence of the audit firm do not significantly influence the detection of FLFR. On the other hand, qualified opinions increase the chances of FLFR by 3.625 times, and with a disclaimer of opinion, by 62.22 times, highlighting such opinions as the main indicators for identifying FLFR.

Research Practical & Social implications – Considering the number of publicly traded companies that make up [B]3, and the number of shares that are traded daily in Brazil, there is a need to understand the relationship between the characteristics of the audit and the FLFR in the Brazilian organizational scenario.

Originality/value – The research differs from others, as it shows that the types of opinions issued by auditors may indicate the possibility of FLFR occurring.

Financial Performance and Diversity on Boards of Directors in Brazil

Claudia Emiko Yoshinaga — 2025-07-16

Purpose – This study investigates how different dimensions of board diversity influence the financial performance of non-financial Brazilian companies, focusing on Brazil’s institutional and cultural specificities.

Theoretical framework – The theoretical framework combines Resource Dependence Theory (RDT), Agency Theory, and Upper Echelons Theory, emphasizing mechanisms through which board diversity may affect organizational performance.

Design/methodology/approach – This is an empirical, longitudinal study analyzing data from 367 companies listed on B3 between 2011 and 2021. Panel data regression models with fixed effects were applied, with diversity variables constructed from indices such as Blau's, in addition to dummy variables.

Findings – The results indicate statistically significant associations between some dimensions of diversity and financial performance, highlighting the positive impact of academic background diversity and previous board experience, as well as negative effects associated with female participation and positive effects from family ties.

Research Practical & Social implications – This research offers important recommendations for improving governance practices in Brazil, suggesting that diversity should be promoted strategically and effectively, overcoming tokenism and aligning with national contextual specificities.

Originality/value – The study contributes to the literature by conducting a comprehensive analysis of board diversity in Brazil, incorporating multiple dimensions beyond gender, such as academic background, experience, independence, and family ties, based on an unprecedented dataset for the country.

The influence of sustainable governance and innovation on socio-environmental performance: a multivariate analysis of companies listed on the Brazilian Corporate Sustainability Index

Marcos Filho Lima Bastos — 2025-07-16

Purpose – This study aimed to analyze the impact of innovation and sustainable governance on the socio-environmental performance of companies in the Brazilian capital market, with a methodological focus on the companies listed on the Corporate Sustainability Index (ISE).

Design/methodology/approach – The study is descriptive in nature, with a quantitative approach, using documentary data sources, and employed four multiple linear regression models to analyze the relationship between the variables.

Findings – The results revealed a significant influence of innovation and sustainable corporate governance on the social and environmental performance of the listed companies. It was demonstrated that sustainable governance and investments in innovation are capable of improving organizational socio-environmental performance. Overall, sustainable governance and innovation had a more significant impact on social performance than environmental performance, indicating a stronger alignment with the social pillar of sustainability in the context analyzed.

Research Practical & Social implications – The contributions of this study reach different stakeholders, with a potential to assist companies in improving their sustainability approaches, considering governance and innovation aspects. Furthermore, the study also contributes to the state of the art in the field of research on governance, innovation and socio-environmental performance in the context of Brazil and emerging economies.

Originality/value: It is noteworthy that no other analyses investigating the impact of innovation and sustainable corporate governance performance on socio-environmental performance in the context of the ISE were identified. In this sense, the research reinforces the understanding of the relationship between sustainable corporate governance, innovation, and socio-environmental performance.

Work Performance: The Role of Sustainable Human Resource Management and Sustainability Concerns

Lígia Nascimento — 2025-07-16

Purpose – This study aimed to assess the effects of post-pandemic changes in human resource management policies and practices (HRMPP) on work performance (WP), and to examine the mediating role of sustainability concerns (SC) in the relationship between HRMPP and WP.

Theoretical framework – The research model was grounded in the concept of sustainable human resource management as a new HRM paradigm, and in the three-dimensional conceptualization of WP: task performance (TP), contextual performance (CP), and counterproductive work behavior (CWB).

Design/methodology/approach – Data were collected through a convenience sample using a survey with 190 employees with more than two years of tenure and experience with telework during the pandemic. Multiple linear regression and mediation analysis were employed.

Findings – WP and its dimensions TP, CP, and CWB were significantly affected by specific HRMPP variables. However, SC did not mediate the relationship between HRMPP and WP, suggesting that sustainability still needs deeper integration into organizational policies.

Research Practical & Social implications – This study highlights the crucial role of HRM practices in their differential impact on specific dimensions of performance, offering clear directions for improving people management in post-pandemic work environments.

Originality/value – No previous studies were found that addressed the proposed model. This research is pioneering in considering WP as a three-dimensional construct and demonstrating that different HRMPP affect distinct WP dimensions. It also examines the mediating role of SC in the HRMPP–WP relationship within a post-crisis and digital transformation context. Measurement scales for HRMPP and SC were developed as part of the study.