Global Finance and Business Sustainability in Brazil
DOI:
https://doi.org/10.6000/1929-7092.2013.02.18Keywords:
Business sustainability, micro and small entrepreneurs, finance, global crisis, structural competitive challengesAbstract
The recent Brazilian policy agenda has not been able to improve the business environment in order to increase the resiliency of micro and small enterprises over time. Business sustainability is particularly relevant in a global scenario where, among the major challenges, the crisis has restated the menace of a deep depression while livelihood conditions turned out to be subordinated to the bailout of the domestic financial systems.As a matter of fact, the current global financial architecture has seriously affected the pace of long-run investment and threatened the survival of micro and small enterprises. Taking into account this background, our main concern is to reflect on how entrepreneurship sustainability is influenced by finance in contemporary Brazil - mainly after the 2008 global crisis.References
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Unctad. 2004. ‘Growing Micro and small enterprises in LDCs’ Enterprise Development Series. UNCTAD/ITE/TEB/5. Geneve.
Waters, Malcoln. 2001. Globalization, 2nd edition, New York: Routledge.
Wheatley, Jonathan. 2010.”Capital markets: Private equity funds explore the market”. Financial Times. May 6, (http://www.ft.com/cms/s/0/cbfe7ce6-571c-11df-aaff- 0144feab49a.html#axzz1ezwgqbFE, accessed on 10 August 2011).
Beck, Ulrich. 1999. World Risk Society, Cambridge: Polity Press.
Cni (Confederação Nacional da Indústria) and Sebrae (Serviço Brasileiro de Apoio às micro e pequenas empresas). 2006. Indicadores de Competitividade na Indústria Brasileira, Micro e pequenas empresas (www.cni.org.br,accessed on 5 June 2011).
Cni (Confederação Nacional da Indústria) 2011. Sondagem especial- China. Ano 9, Número 1, Brasília (www.cni.org.br,accessed on 30 September 2011).
Crotty, James. 2002. ‘The effects of increased product market competition and changes in financial markets on the performance of nonfinancial corporations in the neoliberal era’. Working Paper Series, no. 44, University of Massachusetts Amherst, Political Economy Research Institute.
Cullen, Ann and Sylvia James. 2007. Private equity and Business Information. Part 3: Business Information Services and Private equity: North American Involvement. Business Information Alert;, 19 (10): 1-4.
Exame-Deloitte. 2009. Relatório Pequenas e Médias Empresas. 2009. (http://www.gestaouniversitaria.com.br/edicoes/51-79/242-apoio-no-combate-a-miseria-por-meio-das-micro--pequenas-e-medio-empresas--o-papel-do-empreendedor.html ,accessed on 30 June 2010).
Fligstein, Neil. 2001. The architecture of markets. New Jersey: Princeton University Press.
Foster, John Benjamim. 2006. ‘Monopoly-Finance Capital’ Monthly Review. 58(7) (http://monthlyreview.org/2006/12/01/ monopoly-finance-capital, accessed on 30 June 2010).
--------------. 2009. ‘A Failed System. The World Crisis of Capitalist Globalization and its Impact on China’. Monthly Review, 60(10) (http://monthlyreview.org/2009/03/01/a-failed-system-the-world-crisis-of-capitalist-globalization-and-its-impact-on-china, accessed on 30 June 2011).
Froud, Julie; Karyn L. Williams; S. Johal and Colin J. Haslam. 2000. Restructuring for shareholder value and its implications for labor, Cambridge Journal of Economics, 24(6): 771-787.
http://dx.doi.org/10.1093/cje/24.6.771
Froud, Julie; Sukhdev Johal; Adam Leaver and Karel Williams. 2006. Financialization and Strategy. Narrative and Numbers. London: Routledge.
Gem. 2009. Global Entrepreneurship Monitor (http://www. gemconsortium.org/, accessed on 10 May 2011).
Gonçalves, José Ricardo B. and Maria Alejandra C. Madi. 2011. Private equity investment and labor: faceless capital and the challenges to trade unions in Brazil. In: Serrano, M. et al., eds, 2011. Trade unions and the global crisis: Labour´s visions, strategies and responses. Intenational Labour Office. Geneve.
GVcepe. 2008. Panorama da indústria Brasileira de private equity and venture capital, research report. São Paulo: Fundação Getúlio Vargas.
Hobsbawm, Eric. 1995. The Age of Extremes: a History of the World, 1914-1991, New York: Pantheon Books.
Lazonick, William and Mary O´Sullivan. 2000. ‘Maximizing shareholder value: a new ideology for corporate governance’. Economy and Society, 29 (1):13-35.
Madi, Maria Alejandra C. and José Ricardo B. Gonçalves. 2005. ‘Microcredit and market society: challenges to social inclusion in the 21st century” In: Proceedings of the congress After Deregulation, Brighton: University of Sussex.
Mdic (Ministério do Desenvolvimento, Indústria e Comércio Exterior). 2009. As MPEs e a crise econômica internacional. Sumário Executivo. Brasília.
Ministério da Fazenda. 2011. Brazil Economic Outlook. Brasília: Ministério da Fazenda (http://www.fazenda.gov.br/portugues/ docs/perspectiva-economia-brasileira/edicoes/ENG-12Ed_PT_Mai_Jul--20-09-11--WEB.pdf, accessed on 12 June 2013).
Minsky, Hyman. 1986. Stabilizing an unstable economy. New Haven: Yale University Press.
Reinecke, Gerhard. 2002. “Small Enterprises, Big Challenges. A Literature Review on the Impact of the Policy Environment on the Creation and Improvement of Jobs within Small Enterprises”, Seed WP No. 23, Series on Conducive Policy Environment for Small Enterprise Employment. ILO, Geneve.
Sebrae (Serviço Brasileiro de Apoio às Micro e Pequenas Empresas). 2008 a. 10 Anos de monitoramento da sobrevivência e mortalidade de empresas. São Paulo. (http://www.sebraesp.com.br/PortalSebraeSP/Biblioteca/Documents/EstudosePesquisas/Mortalidade_MPE/livro_10_anos_mortalidade/livro_10_anos_mortalidade.pdf, accessed on 15 May 2011).
-----------. ed. 2008b. Anuário do Trabalho na Micro e Pequena Empresa 2008. Elaborated by DIEESE. São Paulo. (http://www.sebrae.com.br/customizado/estudos-e-pesquisas/anuario_trabalho2008.pdf, accessed on 15 May 2011).
-----------. 2009a.O financiamento das micro e pequenas empresas no Brasil. São Paulo.
-----------. 2009 b. Inovação e competitividade nas MPEs brasileiras. São Paulo.
-----------. ed. 2010. Anuário do Trabalho na Micro e Pequena Empresa 2009. Elaborated by DIEESE. São Paulo, (http://www.sebrae.com.br/customizado/estudos-e-pesquisas/anuario_trabalho2008.pdf, accessed on 15 May 2011).
----------. 2011. Taxa de Sobrevivência Taxa de Sobrevivência das Micro e Pequenas Empresas no Brasil (http://files.provisorio.ws/empredi/1281126849349546/13191254361404223Taxa, accessed on 12 June 2013).
Sicsú, João. 2011. Lições da crise de 2008-2009: o que o Brasil deve fazer agora? (http://www.diap.org.br/index.php/noticias/ artigos/18845-licoes-da-crise-de-2008-2009-o-que-o-brasil-deve-fazer-agora, accessed on 15 May 2012).
Steindl, John. 1945. Small and Big Business. Oxford: Basil Blackwell.
-----------. 1983. Maturidade e estagnação no capitalismo americano. São Paulo: Abril Cultural.
Stockhammer, Engelbert. 2004. ‘Financialisation and the slowdown of accumulation’. Cambridge Journal of Economics. 28 (5):719-741.
http://dx.doi.org/10.1093/cje/beh032
Unctad. 2004. ‘Growing Micro and small enterprises in LDCs’ Enterprise Development Series. UNCTAD/ITE/TEB/5. Geneve.
Waters, Malcoln. 2001. Globalization, 2nd edition, New York: Routledge.
Wheatley, Jonathan. 2010.”Capital markets: Private equity funds explore the market”. Financial Times. May 6, (http://www.ft.com/cms/s/0/cbfe7ce6-571c-11df-aaff- 0144feab49a.html#axzz1ezwgqbFE, accessed on 10 August 2011).
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Published
2013-06-19
How to Cite
Madi, M. A. C. (2013). Global Finance and Business Sustainability in Brazil. Journal of Reviews on Global Economics, 2, 215–222. https://doi.org/10.6000/1929-7092.2013.02.18
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