Stakeholders, innovative business models for the circular economy and sustainable performance of firms in an emerging economy facing institutional voids.

The literature on the diffusion of the circular economy (CE) rarely provides empirical evidence from emerging economies that face institutional voids and sustainability paradoxes. In contrast, drawing on stakeholder theory, in this paper we test a research framework capable of capturing the imbricated and complex relations among stakeholder pressure, barriers to and motivators of the CE, circular business models, and firms' sustainable performance. Survey-based primary data was gathered from Brazilian industrial companies which lack regulatory clarity regarding the implementation of a CE. Our research results comprise both expected and unexpected outcomes: (i) differing from other countries, the relevance of regulatory stakeholders in Brazil could not be fully confirmed, adding complexity to the topic; (ii) unexpectedly, in this research, company owners/shareholders were the most salient stakeholders; (iii) stakeholders do indeed exert influence on how firms deal with barriers to and motivators of a CE; (iv) we found that internal barriers and internal motivators were perceived as more intense than external ones, which may create organizational tensions; (v) the adoption of a CE by firms tends to improve their sustainable performance; (vi) the previous possession of ISO 14001 and ISO 9001 certifications may control the way companies perceive the benefits of a CE.

"There is no carnival without samba": Revealing barriers hampering biodiversity-based R&D and eco-design in Brazil.

Considering the unique relevance of Brazilian biodiversity, this research aims to investigate the main barriers to biodiversity-based R&D and eco-design development in a leading national company which has been commended for its innovation and sustainability. The methodology for this research was based on on-location visits, in-depth interviews, and consensus building among R&D, sustainability, and quality managers. A multi-criteria decision-making (MCDM) approach was adopted through interpretive structural modelling (ISM), a method that assists decision makers to transform complex models with unclear data into structural models. Some of the most influential barriers to biodiversity-based eco-design initiatives are "lack of legal incentive", "not enough demand from the market", and "not enough available knowledge/scientific data." The most relevant barrier was "no legal incentive" from government. Consequently, managers should concentrate their efforts in tackling those barriers that may affect other barriers known as 'key barriers'. Government should work decisively toward promoting a framework of legal incentives for bio-based eco-design; otherwise, metaphorically, "there is not carnival without the samba singer who pushes the rhythm". The results given here reveal the barriers for bio-based eco-design in a Brazilian leading company, and this is the first work combining ISM to barriers to biodiversity R&D and eco-design.