corporate governance
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The effects of sovereign rating and corporate governance on the capital structure of Latin American companies
This study analyzed the effects of sovereign rating and corporate governance (CG) on the capital structure of Latin American companies. A multilevel regression model was used for 823 companies listed on major Latin American stock exchanges over the period 2004-2018. The results showed that firm level is the most responsible factor for the variation in companies’ capital structure, while country...
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Corporate governance versus corporate governance: an international review: uma análise comparativa da produção acadêmica do tema governança corporativa
Este artigo analisou comparativamente a produção acadêmica do tema Governança Corporativa sob a ótica dos seguintes periódicos: Corporate Governance e Corporate Governance: An International Review, no período de 2001 a 2012. Metodologicamente realizou-se um estudo bibliométrico com análise de redes sociais, em um universo de 1.008 artigos. Os resultados permitem concluir que há uma centralidade...
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One Decade of Evolution of Corporate Governance Practices in Brazil
This study presents the evolution of certain corporate governance practices of listed Brazilian companies from 2004 to 2013 gathered in an index (CGI). Results indicate that the overall quality of these practices improved, notably after the creation of voluntary membership exchange trading lists that require better corporate governance and disclosure practices. The average CGI score of 5.8 (out...
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Sustainable economic development model for agricultural holdings based on effective corporate governance
During the last years of the post-crisis period, numerous barriers that have hindered the effective functioning of crisis integrated structures in the agro-industrial complex were especially hard. This situation forces top managers to apply the strategy of their division into highly specialized firms immediately after the consolidation of assets. The result of this situation is that the Russian...
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Corporate governance and efficiency of water and sewage companies in Brazil: An empirical analysis/ Governanca corporativa e eficiencia tecnica das empresas de agua e esgoto no Brasil: Uma analise empirica.
1. Introducao O Brasil enfrenta um desafio secular relativo ao saneamento basico ofertado para a populacao. Desde a criacao das Companhias Estaduais de Saneamento Basico (CESBs) em 1970 ate o novo Marco Regulatorio do Saneamento Basico (Lei no. 14.0...
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One decade of evolution of corporate governance practices in Brazil/Uma decada de evolucao das praticas de governanca corporativa no Brasil.
1. Introduction Corporate governance encompasses many aspects, such as ownership and control structures (Shleifer and Vishny, 1997; La Porta et al., 1998, 1999; Claessens et al., 2000, 2002), takeover defenses (Schwert, 2000; Field and Karpoff, 200...
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The Effects of Sovereign Rating and Corporate Governance on The Capital Structure of Latin American Companies
This study analyzed the effects of sovereign rating and corporate governance (CG) on the capital structure of Latin American companies. A multilevel regression model was used for 823 companies listed on major Latin American stock exchanges over the period 2004-2018. The results showed that firm level is the most responsible factor for the variation in ...
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Corporate governance mechanisms and intellectual capital.
1 Introduction Knowledge can be identified as a business asset (Sveiby, 1997; Tejedo-Romero & Araujo, 2016) that has become a key economic resource and the main competitive advantage (Brooking, 1997; Rodrigues, Tejedo-Romero & Craig, 2017). Knowled...
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Corporate governance effects on market volatility: Empirical evidence from Portuguese listed firms.
1 Introduction How firms' internal corporate governance mechanisms influence market volatility and how investors react to those mechanisms are relevant questions for managers and shareholders. The literature focused on the effects of board independ...
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The Influence of Corporate Governance on the Mitigation of Fraudulent Financial Reporting.
1 Introduction The growth of companies and the complexity of corporate environments have fostered the separation between the ownership and control of these companies. With this process, the owners (the principals) began to delegate the management o...
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Corporate governance and value creation in acquisitions/ Governanca corporativa e criacao de valor em aquisicoes.
Introducao As literaturas de financas e de estrategia apresentam uma serie de motivos para fusoes e aquisicoes de empresas, que levariam a ganhos denominados genericamente de "sinergia". Os mercados de capitais eficientes na forma semiforte perceber...
- Corporate governance and the financial crisis: the new paradigm of the rule of law after the collapse
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ESG (Environmental, social and corporate governance). A publicidade enganosa e a publicidade abusiva em face do direito empresarial ambiental brasileiro
Ao adotar a sigla ESG, como uma forma de publicidade de maneira indevida e mesmo ilegal no sentido de tornar possível a venda e entrega de produtos aos consumidores ou outras empresas sem adotar efetivamente as melhores práticas ambientais, sociais e de governança (greenwashing) as empresas, que adotam referidas “táticas”, violam o sistema constitucional bem como as regras estabelecidas pela lei 8
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Corporate Governance and Pyramidal Ownership: The Role of Novo Mercado/Governanca Corporativa e Propriedade Piramidal: O Papel do Novo Mercado.
JEL Codes: D22, G32, C23. 1. Introduction For Berle and Means (1932), the distinguishing feature of the modern corporation lies in the separation of control from ownership, which gives rise to potential conflicts of interests between management a...
- Environment, social and corporate governance: qualidade de vida e mercados
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Corporate governance and investment cash-flow sensitivity in Brazil/Governanca corporativa e sensibilidade investimento-fluxo de caixa no Brasil.
1. Introducao O estudo dos determinantes do investimento das firmas, especialmente em mercados emergentes, tem grande relevancia em virtude da relacao positiva entre investimento e crescimento economico (Anderson, 1990; De Long & Summers, 1990, 1993...
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Does good corporate governance pay off in the long run? Evidence from stock market segment switches in Brazil/Governanca corporativa compensa no longo prazo? Evidencia a partir de mudancas no segmento no mercado acionario brasileiro.
1. Introduction Corporate governance and disclosure of information matter for financial growth and development, helping to reduce agency problems and asymmetric information in financial markets, improve the legal environment, and promote market disc...
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Influence of capital goods investment on economic and financial performance, as moderated by corporate governance/ Influencia do investimento em bens de capital no desempenho economico-financeiro sob a moderacao da governanca corporativa.
1. Introducao Espera-se que os investimentos sejam realizados com o intuito de ampliar o desempenho organizacional e agregar valor (Souder et al., 2016). Diante disso, Myers e Majluf (1984) ressaltam que em um mercado eficiente bastaria que os admin...
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Determinants of Structure of Corporate Governance Disclosure in Portugal/Determinantes da divulgacao de informacao sobre a estrutura de governanca das empresas portuguesas/Determinantes de la divulgacion de la estructura de gobernanza corporativa en Portugal.
1 Introduction Corporate Governance is the main focus of our investigation and it is assumed that disclosure is crucial for the proper functioning of a firm's corporate governance structure. Corporate Governance comprises "a set of internal and ext...
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Corporate social responsibility: classification of higher education institutions into responsive or strategic from the perspective of corporate governance/Responsabilidade social empresarial: classificacao das instituicoes de ensino superior em reativas ou estrategicas sob a otica da governanca corporativa/Responsabilidad social empresarial: clasificacion....
1. INTRODUCAO O tema Responsabilidade Social Empresarial (RSE) atrai cada vez mais o interesse das pesquisas academicas e da sociedade civil (MACHADO FILHO; ZYLBERSZTAJN, 2004; PORTER; KRAMER, 2006; FARIA; SAUERBRONN, 2008; KREITLON, 2012; KOS; ESPE...
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Credit rating, corporate governance and performance of listed companies in BM&FBOVESPA/Rating de credito, governanca corporativa e desempenho das empresas listadas na BM&FBOVESPA/Rating de credito, governanza corporativa y rendimiento de las empresas alistadas en la BM&FBOVESPA.
1. INTRODUCAO Nas primeiras decadas dos anos 2000, uma serie de escandalos envolvendo grandes corporacoes e fracas praticas de protecao aos investidores, baixos niveis de transparencia e problemas relacionados a veracidade das informacoes financeira...
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Corporate governance practices listed for monitoring: an analysis of the level of adoption in agriculture cooperatives/Practicas de governanca corporativa indicadas para monitoramento: uma analise do nivel de adocao em cooperativas agropecuarias/Practicas de governanza corporativa indicadas para monitorizacion: un analisis del nivel de adopcion en cooperativas agropecuarias.
1. INTRODUCAO Convencionalmente, os proprietarios da firma sao aqueles que dividem dois direitos formais: o direito formal ao controle da firma, ou seja, o direito de decisao, e o direito aos residuos, entendendo-se por residuos os ganhos liquidos (...
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Corporate governance and efficiency in the Electricity Sector using Data Envelopment Analysis: a study in the brazilian stock market
Different Corporate Governance mechanisms have been suggested to minimize agency problems between managers and shareholders, and between controlling and minority shareholders. The aim of this study is to analyze whether the corporate governance mechanisms result in greater efficiency for Brazilian stock companies in the electricity sector, in 2007-2009. The hypothesis to be verified is that the...
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Corporate governance, value creation and economic and financial performance: evidences of Brazilian market with panel data, 2005-2011/Governanca corporativa, criacao de valor e desempenho economico-financeiro: evidencias do mercado brasileiro com dados em painel, 2005-2011/Gobernanza corporativa, creacion de valor y rendimiento economico-financiero: evidencias del mercado brasileno condatos enpanel, 2005-2011.
1. INTRODUCAO Segundo a OCDE (2003), a adocao de praticas diferenciadas de governanca corporativa (GC) por parte das empresas e cada vez mais importante para o desenvolvimento economico e para a promocao do bem-estar social, pois tem o potencial de ...
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The corporate governance of privately controlled Brazilian firms.
1. Introduction This paper provides an overview of Brazilian corporate governance in early 2005. It is based primarily on an extensive survey distributed to all firms listed on Bovespa, Brazil's principal stock exchange (2005 Brazil CG Survey). We ...