Motivations in Choice of the Governance Model: evidence in the Portuguese listed companies
Autor(a) principal: | |
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Data de Publicação: | 2016 |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | https://doi.org/10.34624/ei.v0i13.4751 |
Resumo: | This study aims to identify the motivations/reasons why the Portuguese companies with securities listed on the Euronext, between the years of 2006-2013 decided by a governance model over another(s). For this purpose, it is intended primarily to understand and find out what are the factors that explain why, between 2006 and 2007, a considerable number of companies decided to abandon the Simple Latin Model and adopt the Reinforced Latin Model. Secondly, sought to fin empirical evidence to explain, why organizations choose between the Latin model and Anglo-Saxon on existing literature we defined as independent variables: Shareholder Concentration, Independence of tile Board of Directors, Corporate Governance Robustness, Saxon model, the logistic regression model (logit), we found a negative relationship between the size and between the periods 2006-2013. Based Internationalization, Dimension, Debt, Profitability, Shareholder Structure, Type of Auditor and Listing Status. Using Reinforced Latin Model, concluding that, between the years 2006 and 2007 were the smaller companies that have moved from Simple Latin Model for Reinforced Latin Model. Relative to the larger study between the years 2006-2013 (Latin Model vs. Model Anglo-Saxon) the results were more comprehensive and found more variables with explanatory capabilities, all with a positive association: the independence of Board of Directors, the Corporate Governance robustness and the presence of public funds in the shareholder structure. |
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Motivations in Choice of the Governance Model: evidence in the Portuguese listed companiesMotivações na escolha do modelo de governação: evidência nas empresas cotadas PortuguesasThis study aims to identify the motivations/reasons why the Portuguese companies with securities listed on the Euronext, between the years of 2006-2013 decided by a governance model over another(s). For this purpose, it is intended primarily to understand and find out what are the factors that explain why, between 2006 and 2007, a considerable number of companies decided to abandon the Simple Latin Model and adopt the Reinforced Latin Model. Secondly, sought to fin empirical evidence to explain, why organizations choose between the Latin model and Anglo-Saxon on existing literature we defined as independent variables: Shareholder Concentration, Independence of tile Board of Directors, Corporate Governance Robustness, Saxon model, the logistic regression model (logit), we found a negative relationship between the size and between the periods 2006-2013. Based Internationalization, Dimension, Debt, Profitability, Shareholder Structure, Type of Auditor and Listing Status. Using Reinforced Latin Model, concluding that, between the years 2006 and 2007 were the smaller companies that have moved from Simple Latin Model for Reinforced Latin Model. Relative to the larger study between the years 2006-2013 (Latin Model vs. Model Anglo-Saxon) the results were more comprehensive and found more variables with explanatory capabilities, all with a positive association: the independence of Board of Directors, the Corporate Governance robustness and the presence of public funds in the shareholder structure.O presente estudo pretende identificar as motivações/razões pelas quais as empresas portuguesas com valores cotados na Euronext, entre os anos de 2006-2013, decidiram por um Modelo de Governo em detrimento de outro (s). Para o efeito, pretendeu-se, em primeiro lugar, compreender e descobrir quais são os fatores que explicam a escolha efetuada entre 2006 e 2007. Um considerável número de empresas, decidiu abandonar o Modelo Latino Simples e adotar o Modelo Latino Reforçado. Em segundo lugar, procurou-se encontrar evidências empíricas que explicassem, por parte das empresas, a sua escolha entre o Modelo Latino e o Modelo Anglo - Saxónico, no período 2006-2013. Com base na literatura existente definiu-se como variáveis independentes: concentração acionista, independência do Conselho de Administração, robustez do governo das sociedades, internacionalização, dimensão, endividamento, rendibilidade do capital pr6prio, estrutura acionista e tipo de auditor e perfil de cotação. Recorrendo ao modelo de regressão logística (Logit) verificou-se uma relação negativa, entre a dimensão e a escolha do Modelo Latino Reforçado, concluindo-se que, entre os anos de 2006 e 2007, foram as empresas de menor dimensão que mudaram do Modelo Latino Simples para o Modelo Latino Reforçado. Relativamente ao estudo mais alargado entre os anos 2006 a 2013 (Modelo Latino vs. Modelo Anglo-Sax6nico) os resultados foram mais abrangentes e encontradas mais variáveis com capacidades explicativas, todas elas com uma associação positiva: a independência do Conselho de Administração, a robustez do governo das sociedades e a presença de capitais públicos na estrutura dos capitais.Instituto Superior de Contabilidade e Administração da Universidade de Aveiro2016-01-01T00:00:00Zotherinfo:eu-repo/semantics/articleinfo:eu-repo/semantics/otherinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://doi.org/10.34624/ei.v0i13.4751oai:proa.ua.pt:article/4751Estudos do ISCA; No 13 (2016)Estudos do ISCA; n.º 13 (2016)1646-48500873-2019reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAPporhttps://proa.ua.pt/index.php/estudosdoisca/article/view/4751https://doi.org/10.34624/ei.v0i13.4751https://proa.ua.pt/index.php/estudosdoisca/article/view/4751/3545https://creativecommons.org/licenses/by/4.0/info:eu-repo/semantics/openAccessVieira, Rita Andreia Pinto2022-09-22T16:24:12Zoai:proa.ua.pt:article/4751Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T15:59:27.510826Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Motivations in Choice of the Governance Model: evidence in the Portuguese listed companies Motivações na escolha do modelo de governação: evidência nas empresas cotadas Portuguesas |
title |
Motivations in Choice of the Governance Model: evidence in the Portuguese listed companies |
spellingShingle |
Motivations in Choice of the Governance Model: evidence in the Portuguese listed companies Vieira, Rita Andreia Pinto |
title_short |
Motivations in Choice of the Governance Model: evidence in the Portuguese listed companies |
title_full |
Motivations in Choice of the Governance Model: evidence in the Portuguese listed companies |
title_fullStr |
Motivations in Choice of the Governance Model: evidence in the Portuguese listed companies |
title_full_unstemmed |
Motivations in Choice of the Governance Model: evidence in the Portuguese listed companies |
title_sort |
Motivations in Choice of the Governance Model: evidence in the Portuguese listed companies |
author |
Vieira, Rita Andreia Pinto |
author_facet |
Vieira, Rita Andreia Pinto |
author_role |
author |
dc.contributor.author.fl_str_mv |
Vieira, Rita Andreia Pinto |
description |
This study aims to identify the motivations/reasons why the Portuguese companies with securities listed on the Euronext, between the years of 2006-2013 decided by a governance model over another(s). For this purpose, it is intended primarily to understand and find out what are the factors that explain why, between 2006 and 2007, a considerable number of companies decided to abandon the Simple Latin Model and adopt the Reinforced Latin Model. Secondly, sought to fin empirical evidence to explain, why organizations choose between the Latin model and Anglo-Saxon on existing literature we defined as independent variables: Shareholder Concentration, Independence of tile Board of Directors, Corporate Governance Robustness, Saxon model, the logistic regression model (logit), we found a negative relationship between the size and between the periods 2006-2013. Based Internationalization, Dimension, Debt, Profitability, Shareholder Structure, Type of Auditor and Listing Status. Using Reinforced Latin Model, concluding that, between the years 2006 and 2007 were the smaller companies that have moved from Simple Latin Model for Reinforced Latin Model. Relative to the larger study between the years 2006-2013 (Latin Model vs. Model Anglo-Saxon) the results were more comprehensive and found more variables with explanatory capabilities, all with a positive association: the independence of Board of Directors, the Corporate Governance robustness and the presence of public funds in the shareholder structure. |
publishDate |
2016 |
dc.date.none.fl_str_mv |
2016-01-01T00:00:00Z |
dc.type.driver.fl_str_mv |
other info:eu-repo/semantics/article info:eu-repo/semantics/other |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://doi.org/10.34624/ei.v0i13.4751 oai:proa.ua.pt:article/4751 |
url |
https://doi.org/10.34624/ei.v0i13.4751 |
identifier_str_mv |
oai:proa.ua.pt:article/4751 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
https://proa.ua.pt/index.php/estudosdoisca/article/view/4751 https://doi.org/10.34624/ei.v0i13.4751 https://proa.ua.pt/index.php/estudosdoisca/article/view/4751/3545 |
dc.rights.driver.fl_str_mv |
https://creativecommons.org/licenses/by/4.0/ info:eu-repo/semantics/openAccess |
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https://creativecommons.org/licenses/by/4.0/ |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Instituto Superior de Contabilidade e Administração da Universidade de Aveiro |
publisher.none.fl_str_mv |
Instituto Superior de Contabilidade e Administração da Universidade de Aveiro |
dc.source.none.fl_str_mv |
Estudos do ISCA; No 13 (2016) Estudos do ISCA; n.º 13 (2016) 1646-4850 0873-2019 reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
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RCAAP |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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