Older Restaurant Managers 'More Risk Averse', Study Finds
UFSC study shows prolonged tenure leads managers to favour conservative actions.
Tempo previsto
16/4/2025
Leading Brazilian journalist discusses challenges facing the profession in a project debating media's future.
In an interview with the Lab Jornalismo 2050® project, journalist Heródoto Barbeiro answers the question: "What is journalism?". The live stream was broadcast on the Outras Terras Filmes production company's channel last Friday (3rd). He was interviewed by me, Sgarbe. The ten questions and answers are also segmented in this playlist.
Heródoto was a professor of Brazilian history for over two decades before becoming a brilliant mind in journalism. He was one of the founders of Brazil's first all-news radio station, CBN. He also hosted, among other programs, the Roda Viva interview show on TV Cultura.
Heródoto's voice sounds familiar to me, and probably to most readers of this article. The enduring and serene admiration I have for him comes of age this year. In 2005, I listened to him daily on the national news while we prepared the CBN state news program. Even today, he says he conducts ten interviews a day. In other words, interviewing him is like celebrating Mass for the Pope.
Heródoto's spirit reminds me of Luiz Geraldo Mazza, a former political commentator for the local CBN. Regarding technology, Mazza used to say that there wasn't enough, that there needed to be more people doing live broadcasts of events. Both seem, in a Victorian and heroic way, unfazed by the advancements of platforms.
Leia insights sobre a interação de humanos com modelos de linguagem de IA, e sobre os ODS no Brasil. Lab Educação 2050 Ltda, que mantém este site, é signatária do Pacto Global das Nações Unidas.
Heródoto Barbeiro hails media innovation.
Journalistic debate boosts fair, strong institutions.
UFSC study shows prolonged tenure leads managers to favour conservative actions.
A recent study published in the *Revista Turismo, Visão e Ação* (RTVA) reveals that older managers with longer tenures in restaurants tend to be more risk-averse in their corporate decisions. The research, conducted by researchers at the Federal University of Santa Catarina (UFSC), analyzed data from over 2,000 restaurants in Europe between 2014 and 2016.
The study, titled "Influence of Management Team Characteristics on Risk Decision-Making: Evidence from the Restaurant Sector," utilized the Amadeus database and employed the least squares method to analyze the relationship between manager characteristics – age, tenure, gender, and team size – and the companies' level of financial leverage, used as a risk-taking indicator.
The results showed a significant negative correlation between the age and tenure of managers and their propensity for risk. Older managers and those who had held the same position for a longer period demonstrated a preference for more conservative decisions, opting to maintain the status quo rather than adopting innovative or risky strategies.
Contrary to some expectations, the study found no significant relationship between the size of the management team or female participation and risk-taking. Although previous research has suggested a possible influence of these factors, the data analyzed did not confirm this hypothesis in the specific context of the restaurant industry.
The authors suggest that the risk aversion demonstrated by more experienced managers may be related to the prioritization of stability and the reputation built throughout their careers. Familiarity with the sector and a concern to preserve accumulated gains may lead them to avoid decisions that represent potential threats to the business.
The study's findings have significant implications for restaurant management. The research suggests that the composition of the management team can directly influence the strategy and performance of companies. Restaurants with younger managers may be more willing to innovate and take risks, while those led by more experienced managers may prioritize stability and financial security.
The researchers highlight the need for further studies to deepen the understanding of the relationship between manager characteristics and decision-making in restaurants. Investigating psychological factors, such as individual risk tolerance, and analyzing data from a longer period could enrich the discussion and provide more precise insights for the sector.
Lack of updates and context erodes reader trust.
A journalistic suite is the continuation of a news story in new articles that update previous ones. Something like: "Two people were injured in an accident"; then, "Men injured in accident undergo surgery"; further, "Men injured in accident discharged from hospital"; and finally, "Company responsible for accident involving injuries fined." All these sensational headlines relate to the same original event.
Not every type of news warrants a continuation. Some events and accomplishments have the momentum for a single appearance. However, to appear once or several times in the newspaper, the "thing" must truly be news, which basically means it's not advertising or propaganda – but that's a topic for another time.
In terms of format, a suite is no different from a new news story. After all, a continuation only exists when a new fact is revealed. But it's in style, from what I've observed, that the "marmita das suítes azedou" – meaning why they've lost momentum in recent years. ("Marmita das suítes azedou" is an idiom meaning roughly that the suites have gone stale or lost their appeal).
Let's take a police investigation as an example. Journalism of both good and poor quality is interested in criminal stories. However, in both types of quality, a flavor of vice remains, perhaps originating from the pleasure of "scooping" (when a journalist is the first to report something). It's a haste that hinders more than it helps: not infrequently, versions are presented that collaborate with a story one wants to tell, which may have nothing to do with what actually happened.
In the case of Armed man threatens Black youth in São Paulo, and police officer refuses to act because she's 'off-duty'; watch video (sense-based translation), for example. This is a story that quickly captured the attention of journalists and the public because a video proves not only the omission of a police officer but also her aggression against a young man. Here, whether the police officer was right or wrong is not under discussion. At the same time, due to the lack of suites, the broader context of the three-minute video was missing.
A story told because of its intriguing nature can yield minutes of viewership and an increase in website visitors. However, without continuity, it's shooting oneself in the foot. In 2023, the Reuters Institute's Digital News Report identified that Brazilians' trust in journalism is 43%, a decrease of 19 percentage points since 2015. Statistically, the downward trend may reach 41% in 2024. In this scenario, all resources of intelligence and integrity are welcome to improve these numbers.
Suites are an opportunity to assure the public that editorial choices represent, even if against the majority view, the vehicle's commitment to a story told from beginning to end, with all its nuances. For this, the editorial line as a whole, and even more so the reporters and editors, must approach investigative activity with the detachment of recounting things as they are, and not as they should be.
