FEA - USP

Master Degree Entrepreneurship – Scenarios for the development of the low-carbon hydrogen Industry in Brazil: institutional aspects, resources, and competitiveness

mayra.ogura — Wed, 21 Oct 2026 14:54:43 +0000

Tipo de evento:

Defesa

Data e hora:

18/11/2026 - 14:00 to 16:00

LUIZ ANTONIO COSTA DE ARRUDA MELLO

Master Degree Entrepreneurship – Scenarios for the development of the low-carbon hydrogen Industry in Brazil: institutional aspects, resources, and competitiveness

Adviser: Profa. Dra. Daielly Melina Nassif Mantovani

Comission: Profs. Drs. Mauricio Uriona Maldonado, Fernanda Delgado de Jesus and Jorge Luiz de Biazzi

Classroom: 215, FEA-5

Abstract*

‘Low-carbon Hydrogen’ (LCH2) is currently a significant topic within the agenda of clean energy and decarbonization. Brazil is regarded as a potential global leader in the production of LCH2, owing to the relatively low cost and high availability of renewable energy sources. LCH2 derivatives, such as fertilizers and methanol, play a crucial role in the Brazilian economy, particularly in the agriculture and biodiesel sectors, with most of their supply being import-based. The use of LCH2 to recover our local production capacity of fertilizers represents promising market. In this context, LCH2 can serve as a catalyst for Brazil’s ‘low-carbon reindustrialization.’

The primary objective of the research project is to explore the effectiveness of governmental policies in promoting the production of LCH2 and its derivatives along an economically sustainable path in the long term. The topic addresses complex institutional factors and their relationship with resource-based factors. The research is conducted under the Design Science Research methodology, comprising two interconnected phases: (i) a systematic literature review discussing LCH2 and related ‘LCH2 enabler energies’ from the perspective of Institutionalist Theory, the Resource-Based View, and Dynamic Capabilities; and (ii) the development of a System Dynamics (SD) model to simulate long-term scenarios for the growth of the Brazilian LCH2 industry.

Based on the findings of the systematic literature review, the SD model is focused on one strategically relevant pathway: green hydrogen production based on renewable electricity, converted into green ammonia to serve the domestic nitrogen fertilizers market. This modeling scope is justified mainly by the strategic relevance of Brazilian agriculture, the country’s high dependence on imported nitrogen fertilizers and the availability of renewable electricity.

The SD model is implemented to represent the interaction among domestic ammonia-equivalent demand, green ammonia capacity expansion, renewable electricity availability, production costs, subsidy mechanisms, and fiscal inflows. Five scenarios are simulated, with results analyzed to evaluate whether public incentives can promote sustained green ammonia development in Brazil.

*Abstract provided by the author

Departamento:

Master's – Effects of Free Fare in the public transport on mode choice: evidences from Sao Caetano do Sul, Brazil

mayra.ogura — Wed, 21 Oct 2026 14:45:12 +0000

Tipo de evento:

Defesa

Data e hora:

10/11/2026 - 14:00 to 17:00

AIDAN ROSSI DE ARAUJO

Master's – Effects of Free Fare in the public transport on mode choice: evidences from Sao Caetano do Sul, Brazil

Advisor: Prof. Dr. André Luis Squarize Chagas

Comission: Profs. Drs. Tainá Souza Pacheco, Mateus Humberto Andrade and Rodrigo Menon Simões Moita

Classroom: 215, FEA-5

Abstract*

This study estimates the effects of the implementation of free municipal public transportation in São Caetano do Sul (SP) on mode choice among workers and students. The policy was implemented in this municipality in November 2023, during the interview collection phase of the 2023 Origin-Destination Survey. The prediction of mode choice in the absence of free municipal public transportation was made using a discrete choice model based on a multinomial logit approach, estimated solely on trips not affected by the policy. Results indicate that the share of trips made by public transportation increased by 22%, with a decline in the shares of car and motorcycle trips. The groups that began using public transportation the most are people with below-average incomes, non-residents of São Caetano do Sul, non-white people, and those under 40 years of age. The price elasticity of demand for public transportation is the highest in absolute value compared to other modes, as is the time elasticity of demand. The welfare gain from consumer surplus resulting from the policy was estimated at R$49.7 million, of which R$25.6 million came from people who already used São Caetano’s municipal buses, R$20 million from those who used intercity buses for trips within the municipality, and R$4.1 million from new users.

*Abstract provided by the author

Departamento:

Doctorate – The anomaly of monetary policy in Brazil. Doctoral Thesis (PhD in Economics)

mayra.ogura — Wed, 21 Oct 2026 14:32:51 +0000

Tipo de evento:

Defesa

Data e hora:

06/11/2026 - 14:00 to 17:00

DEMIAN FIOCCA

Doctorate – The anomaly of monetary policy in Brazil. Doctoral Thesis (PhD in Economics)

Advisor: Prof. Dr. Gilberto Tadeu Lima

Comission: Profs. Drs. Laura Barbosa de Carvalho, Gustavo Pereira Serra and Luiz Fernando Rodrigues de Paula

Classroom: 215, FEA-5

Abstract*

This thesis examines the theoretical foundations of monetary policy in the work of Keynes and Wicksell, as well as Woodford’s neo-Wicksellian approach, which has become a central component of the contemporary New Keynesian framework. It argues that the core macroeconomic relationships developed across these traditions—linking the policy interest rate, aggregate demand, economic activity, and inflation dynamics—underlie the analytical framework that informs contemporary monetary policy. The thesis examines the concepts of the natural rate of interest and the neutral interest rate and develops a framework in which both real factors and financial conditions may determine the neutral rate. Building on this theoretical foundation, the thesis investigates the extent to which Brazil’s abnormally high policy rates can be attributed to financial determinants, specifically to the limited effectiveness of monetary policy transmission channels. Statistical evidence shows that, over 1999–2023, the average real Selic rate was 5.8%, compared with an average real policy rate of 0.9% across a sample of 28 countries operating inflation-targeting regimes, with a standard deviation of 1.3 percentage points. The thesis argues that the high share of Selic-indexed public debt weakens the wealth effect and the credit channel while generating an income effect that operates in the opposite direction to the monetary policy stance. A four-equation small-scale macroeconomic model is estimated, drawing on the Central Bank of Brazil’s 2024 aggregate small-scale model. Approximate estimates are constructed for the distribution of interest income among households, firms, and financial institutions, as well as for a benchmark path of non-earmarked credit growth consistent with effective monetary restraint. A counterfactual analysis suggests that the identified inefficiencies in monetary policy transmission may account for 40% to 70% of the abnormal component of the average real Selic rate. The thesis concludes that a substantial part of this anomaly could be mitigated through macroprudential policy instruments and coordinated public debt management, thereby strengthening monetary policy transmission and creating scope for a lower policy rate without undermining inflation control

*Abstract provided by the author

Departamento:

Master's – Shocks to Inflation Expectations: An Analysis Using Sentiment Shocks

mayra.ogura — Wed, 21 Oct 2026 14:24:33 +0000

Tipo de evento:

Defesa

Data e hora:

06/11/2026 - 16:15 to 18:15

LUCAS FERREIRA DE SOUSA E SILVA

Master's – Shocks to Inflation Expectations: An Analysis Using Sentiment Shocks

Advisor: Prof. Dr. Márcio Issao Nakane

Comission: Profs. Drs. Luís Antonio Fantozzi Alvarez, Juliana Inhasz and Marcelo Kfoury Muinhos

Classroom: 217, FEA-5

Abstract*

Inflation has long occupied a central place in Brazil's macroeconomic debate, and expectations about its future path play an important role in economic agents' decisions. In this context, this dissertation investigates the macroeconomic effects of deviations of inflation expectations from their rational component, referred to as sentiment shocks. To identify these shocks, we apply to the Brazilian case the strategy proposed by Adams and Barrett (2024), estimating a structural Vector Autoregression using monthly data from April 2004 to December 2025. The model includes twelve-month-ahead inflation expectations, inflation, commodity prices, the Selic interest rate, unemployment, and industrial production. The point estimates indicate that a positive inflation sentiment shock generates a deflationary and expansionary response, characterized by lower inflation, higher industrial production, and lower unemployment. This result contrasts both with the predictions of a motivational New Keynesian model, in which the shock is inflationary and contractionary, and with the findings of Adams and Barrett (2024) for the United States, where the shock is deflationary and contractionary. Overall, the evidence suggests that the transmission of inflation expectation shocks in Brazil displays features that differ from those documented in the benchmark literature.

*Abstract provided by the author

Departamento:

Master's – From sustainability to regeneration: a framing perspective

mayra.ogura — Wed, 21 Oct 2026 14:12:43 +0000

Tipo de evento:

Defesa

Data e hora:

06/11/2026 - 13:00 to 15:00

GABRIELA ORTIGOSSA AZENHA

Master's – From sustainability to regeneration: a framing perspective

Advisor: Prof. Dr. Leonardo Augusto de Vasconcelos Gomes

Comission: Profas. Dras. Keysa Manuela Cunha de Mascena, Simone Vasconcelos Ribeiro Galina and Adriana Marotti de Mello

Classroom: 215, FEA-5

Abstract*

As environmental and social crises intensify globally, the limitations of sustainability as a dominant paradigm in business strategies are becoming increasingly evident. While sustainability has contributed to incremental improvements in corporate environmental and social performance, it often maintains an anthropocentric worldview and lacks the transformative potential needed to address complex socio-ecological challenges. In response, a regenerative paradigm is emerging, one that aims not only to reduce harm but to actively restore ecosystems and strengthen communities. This study seeks to explore how organizations articulate the transition from sustainability to regeneration, with a particular focus on the performative role of frames in this process. The research objective is to investigate how organizational actors use frames to reposition their firms and construct narratives that legitimize regenerative practices. Methodologically, the study employs a process qualitative single case study, using interviews, documents, and public materials to reconstruct the narrative trajectory of a company that has undergone this transition. The study contributes to the literature by offering a processual understanding of organizational change toward regeneration and provides practical insights for companies seeking to communicate and implement regenerative strategies effectively.

*Abstract provided by the author

Departamento:

Master's – Open innovation strategies and their impact on organizational ambidexterity

mayra.ogura — Wed, 21 Oct 2026 14:08:10 +0000

Tipo de evento:

Defesa

Data e hora:

05/11/2026 - 10:00 to 12:00

GIOVANA HARDT LOURENÇO

Master's – Open innovation strategies and their impact on organizational ambidexterity

Advisor: Prof. Dr. Alceu Salles Camargo Júnior

Comission: Profs. Dr. Ivanete Schneider Hahn, Rafael Morais Pereira and Roque Rabechini Junior

Classroom: 215, FEA-5

Abstract*

A gestão simultânea da exploração e da explotação constitui o cerne da ambidestria organizacional. Embora a inovação aberta seja reconhecida por alimentar essas demandas de conhecimento, a literatura frequentemente abordou a abertura externa de maneira uniforme, sem considerar o alinhamento necessário entre a estratégia de busca e o perfil dos parceiros. Diante desta lacuna, este estudo investigou de que forma a configuração da estratégia de inovação aberta, definida pela interação entre profundidade, amplitude e perfil dos parceiros, impacta a capacidade exploratória e explotatória das organizações. Conduziu-se uma pesquisa quantitativa com dados primários de 88 empresas de médio e grande porte no Brasil, analisados por meio de Mínimos Quadrados Parciais (PLS-SEM), regressões OLS e técnicas complementares. Os resultados indicam que a capacidade de exploração é impulsionada pela profundidade de busca, atingindo maior intensidade com o foco no ecossistema de fronteira e o suporte do investimento interno em P&D. Por outro lado, a capacidade de explotação descreve uma trajetória côncava em relação à amplitude de busca, caracterizada por retornos decrescentes e efeito platô. O foco em parceiros da cadeia de valor e mercado opera como um catalisador desta relação, permitindo alcançar o desempenho de explotação com um número menor de alianças. Conclui-se que a sustentação da ambidestria decorre do gerenciamento de duas rotas assimétricas de busca externa, fornecendo diretrizes para a orquestração estratégica de parceiros de inovação.

*Abstract provided by the author

Departamento:

Doctorate – Faculty of Economics, Business Administration, Accounting and Actuarial Science

mayra.ogura — Tue, 20 Oct 2026 15:37:04 +0000

Tipo de evento:

Defesa

Data e hora:

04/11/2026 - 14:00 to 17:00

FELIPE ROCHA MARTINS

Doctorate – Faculty of Economics, Business Administration, Accounting and Actuarial Science

Advisor: Prof. Dr. André Luis Squarize Chagas

Comission: Profs. Drs. Tiago Pontes Ferraz, Marcelo Sacchi de Carvalho and Tatiane Almeida de Menezes

Classroom: 215, FEA-5

Abstract*

This dissertation examines the causal effects of the Minha Casa Minha Vida Program (MCMV) on key dimensions of the socioeconomic conditions of households selected through housing lotteries in São José do Rio Preto, with particular emphasis on employment, government transfers, and education. To this end, the study constructs a longitudinal dataset by linking individual-level administrative records from the housing lotteries, the Cadastro Único, and the Annual Social Information Report (RAIS). This linkage makes it possible to follow, over time, both beneficiaries and non-beneficiaries drawn from the lottery-eligible population. The empirical strategy exploits the random assignment embedded in the lottery process as an exogenous source of variation in access to the program. Estimation is conducted within a Local Average Treatment Effect framework using instrumental variables (LATE IV). In addition, the analysis applies Inverse Probability of Censoring Weighting (IPCW) to address observational attrition over the panel and to mitigate potential biases arising from non-random persistence of individuals in the administrative data sources. The results indicate that the MCMV did not lead to socioeconomic improvements among the households under analysis. In particular, the findings show a decline in the probability of employment among adults, while employment probabilities increase among children and adolescents, suggesting household-level reallocation mechanisms and heterogeneous responses across the life cycle. The evidence also points to an increase in Bolsa Família receipt and a deterioration in educational outcomes among school-age children and young people, especially through a lower probability of continued school progression. Taken together, these findings suggest that the program generated adverse effects on economic independence and social mobility in the context examined.

*Abstract provided by the author

Departamento:

Doctorate – Entrepreneurial soft skills: identification via World Café and proposing the ISSE inventory

mayra.ogura — Tue, 20 Oct 2026 15:20:34 +0000

Tipo de evento:

Defesa

Data e hora:

04/11/2026 - 09:00 to 12:00

CARLOS ALBERTO RIBAS

Doctorate – Entrepreneurial soft skills: identification via World Café and proposing the ISSE inventory

Advisor: Prof. Dr. Nuno Manoel Martins Dias Fouto

Comission: Profs. Drs. Marco Antonio Ferreira, Fabiano Palhares Galão and Luciana Florencio de Almeida

Classroom: 217, FEA-5

AbstrThis dissertation investigates the soft skills mobilized by entrepreneurs of Brazilian small and medium-sized enterprises when facing problems situated in different functional areas of management — marketing, finance, production, and human resources. It draws on the theoretical framework of entrepreneurial competencies proposed by Man and Lau (2000, 2005), in dialogue with the behavioral competency literature (McCLELLAND, 1973; SPENCER; SPENCER, 1993) and with action-oriented learning approaches (RIEBENBAUER et al., 2022), assuming that such competencies are not fixed personality traits but action resources mobilized situationally in response to concrete business constraints. As a data production procedure, a World Café dynamic (BROWN; ISAACS, 2005) was conducted, organized into three thematic tables — Finance, Marketing, and Production/Human Resources — from which transcripts were submitted to content analysis (BARDIN, 2016), coded through deductive categories drawn from the literature and inductive categories emerging from the corpus. Results reveal a repertoire of fifteen soft skill categories — including communication, negotiation, problem-solving, self-management, adaptability, emotional intelligence, and risk-based decision-making — operating configurationally, articulated into co-occurrence clusters associated with distinct management challenges (financial survival, service relationship, innovation under constraint, succession and formalization, and power asymmetry in franchise arrangements). Based on these qualitative findings, the dissertation proposes, on an exploratory and not-yet psychometrically validated basis, an Entrepreneurial Soft Skills Inventory (ISSE), structured on a three-point ordinal scale (0 to 2), inspired by the construction logic of the Kirton Adaption-Innovation Inventory (KAI). The study contributes theoretically to the situated and functional operationalization of entrepreneurial competencies in the Brazilian context, methodologically to demonstrating the viability of the World Café as a competency-elicitation instrument in entrepreneurship research, and, as a direction for continued investigation, to the development of an instrument potentially applicable in entrepreneurial training programs.act*

*Abstract provided by the author

Departamento:

Master Degree Entrepreneurship – . Application of the Net Promoter Score in the digital service evaluation process: a study on continuous improvement in unsought services

mayra.ogura — Mon, 19 Oct 2026 18:31:54 +0000

Tipo de evento:

Defesa

Data e hora:

27/11/2026 - 14:00 to 16:00

TATIANE PULSIDES

Master Degree Entrepreneurship – . Application of the Net Promoter Score in the digital service evaluation process: a study on continuous improvement in unsought services

Adviser: Prof. Dr. Guilherme de Farias Shiraishi

Comission: Profs. Drs. Edson Crescitelli, Janaina de Moura Engracia Giraldi and Gilberto Perez

Classroom: 217, FEA-5

Abstract*

This research aimed to analyze how the Net Promoter Score (NPS) is used in the evaluation process of digital service to promote continuous improvement of unsought services, in the context of the claims journey of a Brazilian insurance company. The study is set in the scenario of accelerated digital transformation in the financial sector, where digital channels have taken on a central role in customer relationships. A qualitative approach was adopted, through an embedded case study, involving different departments of the investigated insurance company. The unit of analysis was the process of using NPS within the organization, covering the period from 2020 to 2025. Data collection included semi-structured interviews with professionals at different hierarchical levels, document analysis, and participant observation, stemming from the researcher's role in the organization's Customer Experience department. The data was analyzed using the pattern combination technique, comparing empirical evidence with the theoretical framework on NPS, digital service evaluation, continuous improvement, and unsought services. The results showed that NPS is used by the insurer not just as a loyalty indicator, but as a management tool that supports decision-making, prioritization of improvements, and organizational learning. The study highlighted that customer comments are the main source for identifying problem causes, understanding journeys, and guiding corrective and structural actions. It was also found that customer experience evaluation is carried out through the triangulation of NPS with other sources of information, such as operational indicators, complaints, and other complementary satisfaction metrics, providing a more comprehensive understanding of the experience. In digital service, it was found that the combination of digital channels and human support is particularly important in more complex or emotionally sensitive journeys. It was also found that the customer experience in unsought services is influenced not only by the quality of the service, but also by the emotional vulnerability of the policyholder and the outcome of the claim. Additionally, it was found that the continuous improvement process is supported by governance mechanisms, the systematic sharing of customer feedback, and the ongoing implementation of action plans. As a theoretical contribution, the research expanded the literature on the application of the Net Promoter Score (NPS) in the insurance sector by integrating, in a coordinated way, the topics of NPS, digital service evaluation, continuous improvement, and unsought services, which are traditionally addressed separately. On the management side, the results helped in creating a “Good Practices Guide for Using NPS in Evaluating Digital Service in Unsought Services.”

*Abstract provided by the author

Departamento:

Master Degree Entrepreneurship – The scenarios for Brazilian natural gas distribution in 2040

mayra.ogura — Mon, 19 Oct 2026 18:18:06 +0000

Tipo de evento:

Defesa

Data e hora:

04/11/2026 - 10:00 to 12:00

GABRIEL TOLEDO DE LA VEGA

Master Degree Entrepreneurship – The scenarios for Brazilian natural gas distribution in 2040

Adviser: Prof. Dr. Fabio Lotti Oliva

Comission: Profs. Drs. Marcos Antonio Franklin, Márcio Shoiti Kuniyoshi and Jorge Luiz de Biazzi

Classroom: 217, FEA-5

Abstract*

This research investigates future scenarios for natural gas distribution in Brazil, within a context of transformation driven by the New Gas Market (Novo Mercado de Gás) and the sector's growing need to adapt to regulatory, economic, and technological uncertainties. Given the scarcity of studies on possible futures for the industry, this work seeks to contribute to the understanding of the factors that will shape the sector over the coming decades. The research follows an exploratory methodological approach, structured in three stages: a documentary review to identify market trends and critical variables, qualitative interviews with experts to map perceptions of the driving forces behind change in the sector, and the construction of scenarios that outline the discussed future. Futures studies serve as the conceptual foundation for the investigation, providing instruments for analyzing uncertainties and building alternative scenarios. The results identify five main scenarios for natural gas distribution in 2040 and reveal points of convergence and divergence among experts. The study concludes that strategies grounded in operational efficiency, preparation for the free market, and revenue diversification become central to maintaining the sector's relevance, offering a synthesized overview of the possible paths for natural gas distribution in Brazil in 2040 and supporting strategic decision-making amid the transformations of the energy sector.

*Abstract provided by the author

FEA - USP

Master Degree Entrepreneurship – Scenarios for the development of the low-carbon hydrogen Industry in Brazil: institutional aspects, resources, and competitiveness

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Master's – Effects of Free Fare in the public transport on mode choice: evidences from Sao Caetano do Sul, Brazil

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Doctorate – The anomaly of monetary policy in Brazil. Doctoral Thesis (PhD in Economics)

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Master's – Shocks to Inflation Expectations: An Analysis Using Sentiment Shocks

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Master's – From sustainability to regeneration: a framing perspective

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Departamento:

Master's – Open innovation strategies and their impact on organizational ambidexterity

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Doctorate – Faculty of Economics, Business Administration, Accounting and Actuarial Science

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Doctorate – Entrepreneurial soft skills: identification via World Café and proposing the ISSE inventory

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Departamento:

Master Degree Entrepreneurship – . Application of the Net Promoter Score in the digital service evaluation process: a study on continuous improvement in unsought services

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Departamento:

Master Degree Entrepreneurship – The scenarios for Brazilian natural gas distribution in 2040

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