Submitted by Maicon Juliano Schmidt (maicons) on 2015-03-26T17:11:25Z No. of bitstreams: 1 Moema Pereira Nunes.pdf: 1170739 bytes, checksum: 2f1528e1a76248f84858fc38f454dfd8 (MD5) / Made available in DSpace on 2015-03-26T17:11:25Z (GMT). No. of bitstreams: 1 Moema Pereira Nunes.pdf: 1170739 bytes, checksum: 2f1528e1a76248f84858fc38f454dfd8 (MD5) Previous issue date: 2013-02-28 / Nenhuma / Companies are moving abroad to look for advantages in alternative sources of supply. Primarily associated with the lack of local suppliers or lower acquisition costs, these reactions have driven business to a more proactive perspective by the adoption of Strategic Global Sourcing (GS). GS is conceptualized as the company's strategic direction for the search and monitoring of global supply markets and their efficient management through the integration and coordination of activities related to the functional areas of business, as well as the units of local purchases of a set of related companies. Companies from emerging countries are developing their own GS, in the same manner as companies from developed countries. Most GS literature considers emerging companies the emerging companies to be the suppliers, not the buyers. These "late movers" have more strategic motivation, as well as goals, to internationalize their activities. In this study, we investigated emerging Brazilian companies in the electrical and electronic industries from the state of Rio Grande do Sul as buyers in the global market. The initial step was a literature review, followed by the development of a theoretical framework. The framework was applied to a case study. Six companies from the selected industry sector were investigated. Four were classified as adopting GS. The main motivations that led these companies to adopt GS were identified as faster access to new technologies, the establishment of presence in global markets and the motivation to become a global player. The cultural differences were identified as the main difficulty. A set of differences between these companies and the adoption of GS from traditional MNCs in terms of the structure and process were also identified with special consideration given to the use of IPOs in earlier stages of internationalization sourcing. It was possible to confirm that the adoption of GS is a competitive advantage for these companies.

Made available in DSpace on 2016-04-25T18:39:52Z (GMT). No. of bitstreams: 1 Pedro Issao Takenouchi.pdf: 873574 bytes, checksum: 3107214bd8624b830f017c093e21ca11 (MD5) Previous issue date: 2012-12-05 / The primary objective of this study is to examine the market reaction to cross-border acquisitions of Brazilian multinational emerging-companies (MECs). On this purpose, we examine 128 mergers and acquisitions announcements associated with 36 (MECs) during the sample period 2000 2011. The mergers and acquisitions announcements data come from the Thomson SDC Platinum database. On this dissertation was employed the event study methodology to measure the impact of the announcements on the value of acquiring firms. Herein were established as windows event, 11, 15 and 5 days; furthermore, as windows estimation, were adopted 120, 240 and 500 days. Resulting in a total of 1,140 analysis of merger and acquisition from the original sample. Thus, the results show that, on average, cross-border acquisitions of MECs do not create value to the acquirers. Moreover, in order to explore the influencing factors of the direction and magnitude of market reaction; herein, were deeply analyzed some explanatory variables based on Resource-based View (RBV) and the cross border acquisitions literature, through stratifying event studies results, applying ordinary least square regression, and besides, a non parametric statistical analysis; yclept, bootstrap. Thereby, the empirical findings provide evidence that economic distance, acquisitions on developed countries, past performance, firm size, periods of crises and recessions, serial acquirers, among others variables; as performance drivers for Brazilian s (MECs) cross-border acquisition / Este trabalho tem como objetivo examinar a reação de mercado em aquisições internacionais (cross-border) realizadas por empresas brasileiras. Foram examinados 128 anúncios, públicos e concluídos, de fusões e aquisições (F&A) de 36 firmas brasileiras, no período de 2000 a 2011. Os dados de F&A foram obtidos da base de dados da Thomson SDC Platinum e foi utilizada a metodologia de estudo de eventos (MacKinlay, 1997; McWilliams & Siegel 1997), para mensurar o impacto resultante do anúncio de F&A sobre o valor de mercado da firma adquirente. Foram utilizados como janelas de evento (11, 15 e 5 dias) e, como janelas de estimação (120, 240 e 500 dias), resultando em um total de 1.140 análises de fusões e aquisições para a amostra da pesquisa. Como achado da pesquisa, foi encontrado que, na média, as aquisições internacionais não criaram valor para as firmas adquirentes brasileiras. Outrossim, com o intuito de verificar quais fatores influenciaram no desempenho das transações de aquisições cross border das empresas brasileiras, com base na literatura de Resource-based View (RBV) (Penrose, 1959; Aybar & Ficici, 2009; Gubbi et al., 2010), foram realizados estudos de eventos estratificados, regressão por mínimos quadrados ordinário e análise estatística não paramétrica bootstrap. Onde verificou-se que os fatores distância econômica, aquisição em país desenvolvido, desempenho passado, o tamanho da firma, períodos de crises e recessão, adquirentes seriais, entre outros; são variáveis direcionadoras para o desempenho em relação à reação de mercado a fusões e a aquisições cross-border realizadas por firmas brasileiras