Political connections and firm performance: evidence from Brazil

Detalhes bibliográficos
Autor(a) principal: Saúde, Gonçalo Murteira Brito
Data de Publicação: 2019
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
Texto Completo: http://hdl.handle.net/10438/27174
Resumo: This paper studies the influence of politically connected Board of Directors on Brazilian firms’ future performance. We control for the drivers of firm performance on the Brazilian market, the influence of a political related Board of Director’s member on future firm performance and the differences of this influence between outperforming and underperforming companies. Using a sample of 49 ibovespa companies’ Board of Directors from 2010 to 2015 we conclude that politically connected members of the Board have a positive influence on the one-year-ahead firm performance. We also conclude that thisinfluence is stronger in companies that underperform the industry.
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spelling Saúde, Gonçalo Murteira BritoEscolas::EESPLeite, António NogueiraTavares, José AlbuquerqueSampaio, Joelson Oliveira2019-03-13T12:34:38Z2019-03-13T12:34:38Z2019-01-18http://hdl.handle.net/10438/27174This paper studies the influence of politically connected Board of Directors on Brazilian firms’ future performance. We control for the drivers of firm performance on the Brazilian market, the influence of a political related Board of Director’s member on future firm performance and the differences of this influence between outperforming and underperforming companies. Using a sample of 49 ibovespa companies’ Board of Directors from 2010 to 2015 we conclude that politically connected members of the Board have a positive influence on the one-year-ahead firm performance. We also conclude that thisinfluence is stronger in companies that underperform the industry.Este projeto estuda a influencia de um Conselho de Administração com relações políticas no futuro desempenho das empresas. Monitorizamos os impulsionadores do desempenho das empresas no mercado brasileiro, a influencia que um membro do conselho de administração politicamente relacionado tem no desempenho futuro da empresa e as diferenças desta influencia em empresas que superam ou não o desempenho médio do mercado. Usando uma amostra de 49 empresas pertencentes à ibovespa entre 2010 e 2015, concluímos que membros de conselhos de administração com relações politicas têm uma influencia positiva no desempenho do ano seguinte da empresa. Também concluímos que esta influencia é mais forte em empresas cujo o desempenho é mais fraco do que a média do mercado.engPolitical connectionsFirm performanceBoard of directorsCorporate governanceRelações políticasDesempenho da empresaConselho de administraçãoGovernação corporativaEconomiaConselhos de administradoresGovernança corporativaAdministração de empresasPolitical connections and firm performance: evidence from Brazilinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisinfo:eu-repo/semantics/openAccessreponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVTEXTthesis_gonçalo_saude_2019.pdf.txtthesis_gonçalo_saude_2019.pdf.txtExtracted 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dc.title.eng.fl_str_mv Political connections and firm performance: evidence from Brazil
title Political connections and firm performance: evidence from Brazil
spellingShingle Political connections and firm performance: evidence from Brazil
Saúde, Gonçalo Murteira Brito
Political connections
Firm performance
Board of directors
Corporate governance
Relações políticas
Desempenho da empresa
Conselho de administração
Governação corporativa
Economia
Conselhos de administradores
Governança corporativa
Administração de empresas
title_short Political connections and firm performance: evidence from Brazil
title_full Political connections and firm performance: evidence from Brazil
title_fullStr Political connections and firm performance: evidence from Brazil
title_full_unstemmed Political connections and firm performance: evidence from Brazil
title_sort Political connections and firm performance: evidence from Brazil
author Saúde, Gonçalo Murteira Brito
author_facet Saúde, Gonçalo Murteira Brito
author_role author
dc.contributor.unidadefgv.por.fl_str_mv Escolas::EESP
dc.contributor.member.none.fl_str_mv Leite, António Nogueira
Tavares, José Albuquerque
dc.contributor.author.fl_str_mv Saúde, Gonçalo Murteira Brito
dc.contributor.advisor1.fl_str_mv Sampaio, Joelson Oliveira
contributor_str_mv Sampaio, Joelson Oliveira
dc.subject.eng.fl_str_mv Political connections
Firm performance
Board of directors
Corporate governance
topic Political connections
Firm performance
Board of directors
Corporate governance
Relações políticas
Desempenho da empresa
Conselho de administração
Governação corporativa
Economia
Conselhos de administradores
Governança corporativa
Administração de empresas
dc.subject.por.fl_str_mv Relações políticas
Desempenho da empresa
Conselho de administração
Governação corporativa
dc.subject.area.por.fl_str_mv Economia
dc.subject.bibliodata.por.fl_str_mv Conselhos de administradores
Governança corporativa
Administração de empresas
description This paper studies the influence of politically connected Board of Directors on Brazilian firms’ future performance. We control for the drivers of firm performance on the Brazilian market, the influence of a political related Board of Director’s member on future firm performance and the differences of this influence between outperforming and underperforming companies. Using a sample of 49 ibovespa companies’ Board of Directors from 2010 to 2015 we conclude that politically connected members of the Board have a positive influence on the one-year-ahead firm performance. We also conclude that thisinfluence is stronger in companies that underperform the industry.
publishDate 2019
dc.date.accessioned.fl_str_mv 2019-03-13T12:34:38Z
dc.date.available.fl_str_mv 2019-03-13T12:34:38Z
dc.date.issued.fl_str_mv 2019-01-18
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10438/27174
url http://hdl.handle.net/10438/27174
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
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