Effect of the structure of the board of directors on cash holdings of publicly traded companies

Detalhes bibliográficos
Autor(a) principal: Ferreira, Marília Paranaíba
Data de Publicação: 2020
Outros Autores: Vicente, Ernesto Fernando Rodrigues
Tipo de documento: Artigo
Idioma: eng
por
Título da fonte: Contextus (Fortaleza. Online)
Texto Completo: http://periodicos.ufc.br/contextus/article/view/44362
Resumo: The board of directors is an important internal mechanism of corporate governance, since its primary function is to monitor the actions of the executive board, which reduces possible managerial failures. In this sense, this study aims to verify the effect of the structure of the board of directors on cash holdings of publicly traded companies in the period between 2010 and 2018. The data were analyzed by multiple and quantile regressions and the results showed that the board independence, CEO duality and the board size positively affect the amount of cash by publicly traded companies.
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spelling Effect of the structure of the board of directors on cash holdings of publicly traded companiesEfecto de la estructura del consejo de administración en la retención de efectivo de las empresas que cotizan en bolsaEfeito da estrutura do conselho de administração na retenção de caixa das companhias abertascash holdingsboard of directorscorporate governancepublicly traded companiesAgency Theoryretención de efectivoconsejo administrativogobierno corporativoempresas en bolsaTeoría de la Agenciaretenção de caixaconselho de administraçãogovernança corporativacompanhias abertasTeoria da AgênciaThe board of directors is an important internal mechanism of corporate governance, since its primary function is to monitor the actions of the executive board, which reduces possible managerial failures. In this sense, this study aims to verify the effect of the structure of the board of directors on cash holdings of publicly traded companies in the period between 2010 and 2018. The data were analyzed by multiple and quantile regressions and the results showed that the board independence, CEO duality and the board size positively affect the amount of cash by publicly traded companies.El consejo de administración es un mecanismo interno importante para el gobernancia corporativo, ya que tiene la función primaria de monitorear las acciones del directorio ejecutivo, lo que reduce posibles fallas gerenciales. En este sentido, este estudio tiene como objetivo verificar el efecto de la estructura del consejo de administración en la retención de efectivo de las empresas que cotizan en bolsa en el período comprendido entre 2010 y 2018. Los datos se analizaron mediante regresiones múltiples y cuantiles y los resultados mostraron que independencia, dualidad y el tamaño de la consejo de administración afecta positivamente la cantidad de efectivo en poder de las empresas que cotizan en bolsa.O conselho de administração é um importante mecanismo interno de governança corporativa, já que tem como função primordial monitorar as ações da diretoria executiva, o que reduz possíveis falhas gerenciais. Nesse sentido, este estudo objetiva verificar o efeito da estrutura do conselho de administração na retenção de caixa das companhias abertas no período entre 2010 e 2018. Os dados foram analisados por meio de regressões múltipla e quantílica e os resultados apontaram que a independência, a dualidade de papéis e o tamanho do conselho de administração afetam positivamente o montante de caixa retido pelas companhias abertas.FEAAC/UFC2020-12-14info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfapplication/pdfapplication/ziphttp://periodicos.ufc.br/contextus/article/view/4436210.19094/contextus.2020.44362Contextus - Contemporary Journal of Economics and Management; Vol 18: jan/dec 2020; 275-289Contextus – Revista Contemporánea de Economía y Gestión; Vol. 18: ene/dic 2020; 275-289Contextus – Revista Contemporânea de Economia e Gestão; v. 18: jan/dez 2020; 275-2892178-92581678-2089reponame:Contextus (Fortaleza. Online)instname:Universidade Federal do Ceará (UFC)instacron:UFCengporhttp://periodicos.ufc.br/contextus/article/view/44362/162447http://periodicos.ufc.br/contextus/article/view/44362/162448http://periodicos.ufc.br/contextus/article/view/44362/165607http://periodicos.ufc.br/contextus/article/view/44362/165608http://periodicos.ufc.br/contextus/article/view/44362/165609http://periodicos.ufc.br/contextus/article/view/44362/165610Copyright (c) 2020 Revista: apenas para a 1a. publicaçãohttp://creativecommons.org/licenses/by-nc/4.0info:eu-repo/semantics/openAccessFerreira, Marília ParanaíbaVicente, Ernesto Fernando Rodrigues 2022-02-08T12:37:48Zoai:periodicos.ufc:article/44362Revistahttp://periodicos.ufc.br/contextusPUBhttp://periodicos.ufc.br/contextus/oairevistacontextus@ufc.br2178-92581678-2089opendoar:2022-02-08T12:37:48Contextus (Fortaleza. Online) - Universidade Federal do Ceará (UFC)false
dc.title.none.fl_str_mv Effect of the structure of the board of directors on cash holdings of publicly traded companies
Efecto de la estructura del consejo de administración en la retención de efectivo de las empresas que cotizan en bolsa
Efeito da estrutura do conselho de administração na retenção de caixa das companhias abertas
title Effect of the structure of the board of directors on cash holdings of publicly traded companies
spellingShingle Effect of the structure of the board of directors on cash holdings of publicly traded companies
Ferreira, Marília Paranaíba
cash holdings
board of directors
corporate governance
publicly traded companies
Agency Theory
retención de efectivo
consejo administrativo
gobierno corporativo
empresas en bolsa
Teoría de la Agencia
retenção de caixa
conselho de administração
governança corporativa
companhias abertas
Teoria da Agência
title_short Effect of the structure of the board of directors on cash holdings of publicly traded companies
title_full Effect of the structure of the board of directors on cash holdings of publicly traded companies
title_fullStr Effect of the structure of the board of directors on cash holdings of publicly traded companies
title_full_unstemmed Effect of the structure of the board of directors on cash holdings of publicly traded companies
title_sort Effect of the structure of the board of directors on cash holdings of publicly traded companies
author Ferreira, Marília Paranaíba
author_facet Ferreira, Marília Paranaíba
Vicente, Ernesto Fernando Rodrigues
author_role author
author2 Vicente, Ernesto Fernando Rodrigues
author2_role author
dc.contributor.author.fl_str_mv Ferreira, Marília Paranaíba
Vicente, Ernesto Fernando Rodrigues
dc.subject.por.fl_str_mv cash holdings
board of directors
corporate governance
publicly traded companies
Agency Theory
retención de efectivo
consejo administrativo
gobierno corporativo
empresas en bolsa
Teoría de la Agencia
retenção de caixa
conselho de administração
governança corporativa
companhias abertas
Teoria da Agência
topic cash holdings
board of directors
corporate governance
publicly traded companies
Agency Theory
retención de efectivo
consejo administrativo
gobierno corporativo
empresas en bolsa
Teoría de la Agencia
retenção de caixa
conselho de administração
governança corporativa
companhias abertas
Teoria da Agência
description The board of directors is an important internal mechanism of corporate governance, since its primary function is to monitor the actions of the executive board, which reduces possible managerial failures. In this sense, this study aims to verify the effect of the structure of the board of directors on cash holdings of publicly traded companies in the period between 2010 and 2018. The data were analyzed by multiple and quantile regressions and the results showed that the board independence, CEO duality and the board size positively affect the amount of cash by publicly traded companies.
publishDate 2020
dc.date.none.fl_str_mv 2020-12-14
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://periodicos.ufc.br/contextus/article/view/44362
10.19094/contextus.2020.44362
url http://periodicos.ufc.br/contextus/article/view/44362
identifier_str_mv 10.19094/contextus.2020.44362
dc.language.iso.fl_str_mv eng
por
language eng
por
dc.relation.none.fl_str_mv http://periodicos.ufc.br/contextus/article/view/44362/162447
http://periodicos.ufc.br/contextus/article/view/44362/162448
http://periodicos.ufc.br/contextus/article/view/44362/165607
http://periodicos.ufc.br/contextus/article/view/44362/165608
http://periodicos.ufc.br/contextus/article/view/44362/165609
http://periodicos.ufc.br/contextus/article/view/44362/165610
dc.rights.driver.fl_str_mv Copyright (c) 2020 Revista: apenas para a 1a. publicação
http://creativecommons.org/licenses/by-nc/4.0
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2020 Revista: apenas para a 1a. publicação
http://creativecommons.org/licenses/by-nc/4.0
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
application/pdf
application/zip
dc.publisher.none.fl_str_mv FEAAC/UFC
publisher.none.fl_str_mv FEAAC/UFC
dc.source.none.fl_str_mv Contextus - Contemporary Journal of Economics and Management; Vol 18: jan/dec 2020; 275-289
Contextus – Revista Contemporánea de Economía y Gestión; Vol. 18: ene/dic 2020; 275-289
Contextus – Revista Contemporânea de Economia e Gestão; v. 18: jan/dez 2020; 275-289
2178-9258
1678-2089
reponame:Contextus (Fortaleza. Online)
instname:Universidade Federal do Ceará (UFC)
instacron:UFC
instname_str Universidade Federal do Ceará (UFC)
instacron_str UFC
institution UFC
reponame_str Contextus (Fortaleza. Online)
collection Contextus (Fortaleza. Online)
repository.name.fl_str_mv Contextus (Fortaleza. Online) - Universidade Federal do Ceará (UFC)
repository.mail.fl_str_mv revistacontextus@ufc.br
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