Análise das entidades fechadas de previdência complementar sob a ótica da teoria da agência
Autor(a) principal: | |
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Data de Publicação: | 2022 |
Tipo de documento: | Dissertação |
Idioma: | por |
Título da fonte: | Repositório Institucional do FGV (FGV Repositório Digital) |
Texto Completo: | https://hdl.handle.net/10438/32488 |
Resumo: | This paper analyzes the corporate governance of pension plan investment funds, to determine if their relevant corporate governance structures are efficient. This paper's theorical framework is agency theory, which discusses the problems caused by the separation of decision (control) and risk-bearing (ownership) functions. Pursuant to agency theory, ineffective governance structures result in agency problems which, at their most benign level, may result in poor investment decisions, but, at higher levels, can lead to serious losses to investors due to misconducts carried out by the management. To study this problem, this paper reviews Brazilian Law concerning governance of pension plan investment funds to assess whether it imposes an optimal governance structure to such funds, according to agency theory. |
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Mano, Joaquim Chacur BiasottoEscolas::DIREITO RIORibeiro, Leandro MolhanoDias, Luciana PiresIbrahim, Fábio ZambittePorto, Antônio José Maristrello2022-09-12T19:59:36Z2022-09-12T19:59:36ZMANO, Joaquim Chacur Biasotto. Análise das entidades fechadas de previdência complementar sob a ótica da teoria da agência. 110 p. Dissertação (Mestrado) – Escola de Direito do Rio de Janeiro da Fundação Getulio Vargas, Rio de Janeiro, 2022.https://hdl.handle.net/10438/32488This paper analyzes the corporate governance of pension plan investment funds, to determine if their relevant corporate governance structures are efficient. This paper's theorical framework is agency theory, which discusses the problems caused by the separation of decision (control) and risk-bearing (ownership) functions. Pursuant to agency theory, ineffective governance structures result in agency problems which, at their most benign level, may result in poor investment decisions, but, at higher levels, can lead to serious losses to investors due to misconducts carried out by the management. To study this problem, this paper reviews Brazilian Law concerning governance of pension plan investment funds to assess whether it imposes an optimal governance structure to such funds, according to agency theory.Este estudo analisa as entidades fechadas de previdência complementar, visando verificar se as suas estruturas de governança corporativa são eficientes. O referencial teórico do trabalho é a teoria da agência, cuja escolha se justifica na medida em que esta analisa os problemas que costumam surgir da separação entre propriedade e gestão. Segundo a teoria, uma governança ineficiente gera problemas que, em níveis mais brandos, acarretam má performance de investimentos, mas, em níveis extremos, podem causar graves danos a investidores, em razão de má conduta dos administradores. Em uma primeira etapa, analisa-se o arcabouço normativo que rege as entidades fechadas de previdência complementar, visando identificar se as regras impõem a adoção de estruturas de governança eficientes para tais entidades. Em um segundo momento, procede-se à análise das regras de governança corporativa dos maiores fundos de pensão do País, investigando em que medida seus estatutos sociais e outros documentos internos de gestão criam as estruturas que podem ser consideradas ineficientes do ponto de vista da teoria da agência.porCDD;341.6251RegulationPension Plans Investments FundsGovernanceAgency theoryAgency problemsRegulaçãoFundos de PensãoGovernançaTeoria da AgênciaProblemas de AgênciaDireitoFundos de pensão - Administração - BrasilDireito regulatórioPrevidência privada - BrasilAgências reguladoras de atividades privadasAnálise das entidades fechadas de previdência complementar sob a ótica da teoria da agênciainfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesis2022-02-22info:eu-repo/semantics/openAccessreponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas 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dc.title.por.fl_str_mv |
Análise das entidades fechadas de previdência complementar sob a ótica da teoria da agência |
title |
Análise das entidades fechadas de previdência complementar sob a ótica da teoria da agência |
spellingShingle |
Análise das entidades fechadas de previdência complementar sob a ótica da teoria da agência Mano, Joaquim Chacur Biasotto Regulation Pension Plans Investments Funds Governance Agency theory Agency problems Regulação Fundos de Pensão Governança Teoria da Agência Problemas de Agência Direito Fundos de pensão - Administração - Brasil Direito regulatório Previdência privada - Brasil Agências reguladoras de atividades privadas |
title_short |
Análise das entidades fechadas de previdência complementar sob a ótica da teoria da agência |
title_full |
Análise das entidades fechadas de previdência complementar sob a ótica da teoria da agência |
title_fullStr |
Análise das entidades fechadas de previdência complementar sob a ótica da teoria da agência |
title_full_unstemmed |
Análise das entidades fechadas de previdência complementar sob a ótica da teoria da agência |
title_sort |
Análise das entidades fechadas de previdência complementar sob a ótica da teoria da agência |
author |
Mano, Joaquim Chacur Biasotto |
author_facet |
Mano, Joaquim Chacur Biasotto |
author_role |
author |
dc.contributor.unidadefgv.por.fl_str_mv |
Escolas::DIREITO RIO |
dc.contributor.member.none.fl_str_mv |
Ribeiro, Leandro Molhano Dias, Luciana Pires Ibrahim, Fábio Zambitte |
dc.contributor.author.fl_str_mv |
Mano, Joaquim Chacur Biasotto |
dc.contributor.advisor1.fl_str_mv |
Porto, Antônio José Maristrello |
contributor_str_mv |
Porto, Antônio José Maristrello |
dc.subject.eng.fl_str_mv |
Regulation Pension Plans Investments Funds Governance Agency theory Agency problems |
topic |
Regulation Pension Plans Investments Funds Governance Agency theory Agency problems Regulação Fundos de Pensão Governança Teoria da Agência Problemas de Agência Direito Fundos de pensão - Administração - Brasil Direito regulatório Previdência privada - Brasil Agências reguladoras de atividades privadas |
dc.subject.por.fl_str_mv |
Regulação Fundos de Pensão Governança Teoria da Agência Problemas de Agência |
dc.subject.area.por.fl_str_mv |
Direito |
dc.subject.bibliodata.por.fl_str_mv |
Fundos de pensão - Administração - Brasil Direito regulatório Previdência privada - Brasil Agências reguladoras de atividades privadas |
description |
This paper analyzes the corporate governance of pension plan investment funds, to determine if their relevant corporate governance structures are efficient. This paper's theorical framework is agency theory, which discusses the problems caused by the separation of decision (control) and risk-bearing (ownership) functions. Pursuant to agency theory, ineffective governance structures result in agency problems which, at their most benign level, may result in poor investment decisions, but, at higher levels, can lead to serious losses to investors due to misconducts carried out by the management. To study this problem, this paper reviews Brazilian Law concerning governance of pension plan investment funds to assess whether it imposes an optimal governance structure to such funds, according to agency theory. |
publishDate |
2022 |
dc.date.accessioned.fl_str_mv |
2022-09-12T19:59:36Z |
dc.date.available.fl_str_mv |
2022-09-12T19:59:36Z |
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.citation.fl_str_mv |
MANO, Joaquim Chacur Biasotto. Análise das entidades fechadas de previdência complementar sob a ótica da teoria da agência. 110 p. Dissertação (Mestrado) – Escola de Direito do Rio de Janeiro da Fundação Getulio Vargas, Rio de Janeiro, 2022. |
dc.identifier.uri.fl_str_mv |
https://hdl.handle.net/10438/32488 |
identifier_str_mv |
MANO, Joaquim Chacur Biasotto. Análise das entidades fechadas de previdência complementar sob a ótica da teoria da agência. 110 p. Dissertação (Mestrado) – Escola de Direito do Rio de Janeiro da Fundação Getulio Vargas, Rio de Janeiro, 2022. |
url |
https://hdl.handle.net/10438/32488 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.ispartofseries.none.fl_str_mv |
CDD;341.6251 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.source.none.fl_str_mv |
reponame:Repositório Institucional do FGV (FGV Repositório Digital) instname:Fundação Getulio Vargas (FGV) instacron:FGV |
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Fundação Getulio Vargas (FGV) |
instacron_str |
FGV |
institution |
FGV |
reponame_str |
Repositório Institucional do FGV (FGV Repositório Digital) |
collection |
Repositório Institucional do FGV (FGV Repositório Digital) |
bitstream.url.fl_str_mv |
https://repositorio.fgv.br/bitstreams/4af7f949-2f97-4e6d-a702-90707afd96fd/download https://repositorio.fgv.br/bitstreams/c44b14e3-51e9-4fee-bdb8-15c8b568811a/download https://repositorio.fgv.br/bitstreams/dd0fbd32-451f-47f4-921e-b5a57bdec0b2/download https://repositorio.fgv.br/bitstreams/721b65ad-85c2-45e6-af0e-d91a20a6a47f/download https://repositorio.fgv.br/bitstreams/4b06066a-20ea-4810-94f5-c655f61be7bf/download https://repositorio.fgv.br/bitstreams/c49daad3-0c0c-46ef-880d-0ea9b3b00b3a/download |
bitstream.checksum.fl_str_mv |
710000a041fda2cfeae029b0eeca63cb dfb340242cced38a6cca06c627998fa1 046b4483fec753c18078e9ecd2ac194c 046b4483fec753c18078e9ecd2ac194c 4e3796c3cf21ceeeff0579b3f760fc5f 4e3796c3cf21ceeeff0579b3f760fc5f |
bitstream.checksumAlgorithm.fl_str_mv |
MD5 MD5 MD5 MD5 MD5 MD5 |
repository.name.fl_str_mv |
Repositório Institucional do FGV (FGV Repositório Digital) - Fundação Getulio Vargas (FGV) |
repository.mail.fl_str_mv |
|
_version_ |
1813797843482181632 |