Corporate governance and firm valuation in Brazil

Detalhes bibliográficos
Autor(a) principal: Goins, Samantha
Data de Publicação: 2018
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
Texto Completo: http://hdl.handle.net/10438/20223
Resumo: This paper investigates the relationship between the quality of a firm’s corporate governance and firm valuation, as measured by Tobin’s Q, for Brazilian firms listed on the BM&FBovespa from 2010 to 2014. A corporate governance index is constructed from a set of five sub-indices which were compiled from publicly available information. The indices have been used to determine how corporate governance practises have evolved over the period. The results of the study show a positive and significant relationship between firm value and greater overall corporate governance in Brazilian listed firms, as well as the component sub-indices.
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spelling Goins, SamanthaEscolas::EESPLeite, AntonioQueiró, FranciscoSampaio, Joelson Oliveira2018-02-23T15:49:37Z2018-02-23T15:49:37Z2018http://hdl.handle.net/10438/20223This paper investigates the relationship between the quality of a firm’s corporate governance and firm valuation, as measured by Tobin’s Q, for Brazilian firms listed on the BM&FBovespa from 2010 to 2014. A corporate governance index is constructed from a set of five sub-indices which were compiled from publicly available information. The indices have been used to determine how corporate governance practises have evolved over the period. The results of the study show a positive and significant relationship between firm value and greater overall corporate governance in Brazilian listed firms, as well as the component sub-indices.Esta tese investiga a relação entre a qualidade da governança corporativa das empresas e o seu valor de mercado, como é medido pelo Q de Tobin, para empresas brasileiras listadas no BM&FBovespa entre 2010 e 2014. O índice de governança corporativa utilizado foi construído a partir de um conjunto de cinco sub-índices que foram compilados a partir de informação disponível publicamente. Estes índices foram utilizados com o intuito de determinar como as práticas de governança corporativa evoluíram durante o período em estudo. O resultado desta tese mostra uma relação positiva expressiva entre o valor de mercado das empresas e a manutenção de uma melhor governança corporativa nas empresas brasileiras listadas, assim como com os sub-índices referidos.engTobin’s QCorporate governanceBrazilBovespaGovernança corporativaBrasilEmpresas - AvaliaçãoAções (Finanças)EconomiaTobin, James, 1918Governança corporativa - BrasilEmpresas - AvaliaçãoAções (Finanças)Corporate governance and firm valuation in Brazilinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisreponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVinfo:eu-repo/semantics/openAccessTEXTSamantha Goins FGV Thesis.pdf.txtSamantha Goins FGV Thesis.pdf.txtExtracted texttext/plain40052https://repositorio.fgv.br/bitstreams/12f810de-81ad-4504-b504-20d78d3d743b/downloadb4ae2c988dc17eb5607c84a31e11e7f9MD59ORIGINALSamantha Goins FGV Thesis.pdfSamantha Goins FGV 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dc.title.eng.fl_str_mv Corporate governance and firm valuation in Brazil
title Corporate governance and firm valuation in Brazil
spellingShingle Corporate governance and firm valuation in Brazil
Goins, Samantha
Tobin’s Q
Corporate governance
Brazil
Bovespa
Governança corporativa
Brasil
Empresas - Avaliação
Ações (Finanças)
Economia
Tobin, James, 1918
Governança corporativa - Brasil
Empresas - Avaliação
Ações (Finanças)
title_short Corporate governance and firm valuation in Brazil
title_full Corporate governance and firm valuation in Brazil
title_fullStr Corporate governance and firm valuation in Brazil
title_full_unstemmed Corporate governance and firm valuation in Brazil
title_sort Corporate governance and firm valuation in Brazil
author Goins, Samantha
author_facet Goins, Samantha
author_role author
dc.contributor.unidadefgv.por.fl_str_mv Escolas::EESP
dc.contributor.member.none.fl_str_mv Leite, Antonio
Queiró, Francisco
dc.contributor.author.fl_str_mv Goins, Samantha
dc.contributor.advisor1.fl_str_mv Sampaio, Joelson Oliveira
contributor_str_mv Sampaio, Joelson Oliveira
dc.subject.eng.fl_str_mv Tobin’s Q
Corporate governance
Brazil
topic Tobin’s Q
Corporate governance
Brazil
Bovespa
Governança corporativa
Brasil
Empresas - Avaliação
Ações (Finanças)
Economia
Tobin, James, 1918
Governança corporativa - Brasil
Empresas - Avaliação
Ações (Finanças)
dc.subject.por.fl_str_mv Bovespa
Governança corporativa
Brasil
Empresas - Avaliação
Ações (Finanças)
dc.subject.area.por.fl_str_mv Economia
dc.subject.bibliodata.por.fl_str_mv Tobin, James, 1918
Governança corporativa - Brasil
Empresas - Avaliação
Ações (Finanças)
description This paper investigates the relationship between the quality of a firm’s corporate governance and firm valuation, as measured by Tobin’s Q, for Brazilian firms listed on the BM&FBovespa from 2010 to 2014. A corporate governance index is constructed from a set of five sub-indices which were compiled from publicly available information. The indices have been used to determine how corporate governance practises have evolved over the period. The results of the study show a positive and significant relationship between firm value and greater overall corporate governance in Brazilian listed firms, as well as the component sub-indices.
publishDate 2018
dc.date.accessioned.fl_str_mv 2018-02-23T15:49:37Z
dc.date.available.fl_str_mv 2018-02-23T15:49:37Z
dc.date.issued.fl_str_mv 2018
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
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url http://hdl.handle.net/10438/20223
dc.language.iso.fl_str_mv eng
language eng
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institution FGV
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