Practical of corporative governance and generation of value to the shareholders / PrÃticas de governanÃa corporativa e geraÃÃo de valor aos acionistas
AUTOR(ES)
Francisco Viana e Silva
DATA DE PUBLICAÇÃO
2005
RESUMO
The aim of this research is to verify to what extent corporative governance practices influence on value generation to Brazilian stockholders. In Brazil, we highlight the IBGC (Brazilian Institute of Corporate Governance) and the CVM (Brazilian Securities and Exchange Commission) codes. In such context, conflicts generated by the break-up between property and control in the open capital companies have been examined, as well as the need of procedures which might line up the interests between stockholders and business men. This dissertation investigates if the corporate governance structure was important to Brazilian listed companies in 2003 and if the companies more adjusted to the IBGC and CVM recommendations achieved higher market value. Five governance variables were considered: the separation of chief executive officer and chairman positions, board size, the company with diferent levels of corporate governance o in Bovespa (Level 1, Level 2 or New Market), compensation to employees variable to senior executives of company and board independence.
ASSUNTO(S)
praticas de governanÃa cvm cvm economia comissÃo de valores mobiliÃrios mercado de capitais practise of governance commission of movable values stock market
ACESSO AO ARTIGO
http://www.teses.ufc.br/tde_busca/arquivo.php?codArquivo=1517Documentos Relacionados
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