Characteristics of the board of directors’ members and their relationship with strategic decisions to raise funds: evidence in companies listed on BM&FBovespa
Autor(a) principal: | |
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Data de Publicação: | 2017 |
Outros Autores: | , , |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Contextus (Fortaleza. Online) |
Texto Completo: | http://periodicos.ufc.br/contextus/article/view/32298 |
Resumo: | The board of directors’ members have an important role for the management of strategies and fundraising as well as they represent an important mechanism of corporate governance, which can influence the company’s performance. In this context, the object of this study is to verify the relation between the observable characteristics of the board of directors and the results of the indicators coming from the strategies and decisions associated to fundraising. The data were obtained from 60 companies with shares in the BM&FBovespa stock exchange between 2011 and 2015. Among the results it is observed that the adjusted and dry capitalization variables present a more significant relation with the variables related to the characteristics of the administrative council’s managers. It was also possible to identify the necessity to diversify the characteristics of the members in the top management, considering the small participation of women and the predominance of older managers. |
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Characteristics of the board of directors’ members and their relationship with strategic decisions to raise funds: evidence in companies listed on BM&FBovespaCaracterísticas de los miembros del consejo de administración y su relación con las decisiones estratégicas de captación de recursos: evidencias en empresas relacionadas en la BM&FBovespaCaracterísticas dos membros do conselho de administração e sua relação com as decisões estratégicas de captação de recursos: evidências em empresas listadas na BM&FBovespaThe board of directors’ members have an important role for the management of strategies and fundraising as well as they represent an important mechanism of corporate governance, which can influence the company’s performance. In this context, the object of this study is to verify the relation between the observable characteristics of the board of directors and the results of the indicators coming from the strategies and decisions associated to fundraising. The data were obtained from 60 companies with shares in the BM&FBovespa stock exchange between 2011 and 2015. Among the results it is observed that the adjusted and dry capitalization variables present a more significant relation with the variables related to the characteristics of the administrative council’s managers. It was also possible to identify the necessity to diversify the characteristics of the members in the top management, considering the small participation of women and the predominance of older managers.Los miembros del consejo de administración tienen función importante para las estrategias gerenciales de captar recursos, además de representar un importante mecanismo de gobernabilidad corporativa, que puede influenciar el desempeño de la empresa. En ese contexto, el objetivo de este estudio es investigar la relación entre las características observables del consejo de administración y los resultados de indicadores provenientes de las estrategias y decisiones relacionadas a la captación de recursos. Los datos fueron obtenidos de 60 empresas con acciones en la BM&FBovespa, entre 2011 y 2015. De los resultados, son observadas que las variables de capitalización ajustada y seca tienen relación más significativa con las variables referentes a las características de los gestores del consejo de administración. Tambíen fue posible identificar la necesidad de diversificación de las características de los miembros de la alta gestión, llevando en cuenta la pequeña participación de mujeres y la predominancia de dirigentes mayores.Os membros do conselho de administração têm função importante para as estratégias gerenciais de captação de recursos, além de representarem importante mecanismo de governança corporativa, capaz de influenciar o desempenho da empresa. Sob esse contexto, o objetivo deste estudo é verificar a relação entre as características observáveis do conselho de administração e os resultados dos indicadores procedentes das estratégias e decisões relacionadas à captação de recursos. Os dados do estudo foram obtidos de 60 empresas com ações na BM&FBovespa, entre os anos de 2011 e 2015. Dentre os resultados, observa-se que as variáveis de capitalização ajustada e seca apresentam relação mais significativa com as variáveis referentes às características dos gestores do conselho de administração. Ainda foi possível identificar a necessidade de diversificar as características dos membros da alta gestão, considerando a pequena participação de mulheres e a predominância de dirigentes mais velhos. FEAAC/UFC2017-11-14info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfapplication/vnd.openxmlformats-officedocument.wordprocessingml.documentapplication/ziphttp://periodicos.ufc.br/contextus/article/view/3229810.19094/contextus.v15i2.955Contextus - Contemporary Journal of Economics and Management; Vol 15 No 2: mai/ago 2017; 165-187Contextus – Revista Contemporánea de Economía y Gestión; Vol. 15 Núm. 2: mai/ago 2017; 165-187Contextus – Revista Contemporânea de Economia e Gestão; v. 15 n. 2: mai/ago 2017; 165-1872178-92581678-2089reponame:Contextus (Fortaleza. Online)instname:Universidade Federal do Ceará (UFC)instacron:UFCporhttp://periodicos.ufc.br/contextus/article/view/32298/pdfhttp://periodicos.ufc.br/contextus/article/view/32298/98266http://periodicos.ufc.br/contextus/article/view/32298/165802http://periodicos.ufc.br/contextus/article/view/32298/165803http://periodicos.ufc.br/contextus/article/view/32298/165804http://periodicos.ufc.br/contextus/article/view/32298/165805Copyright (c) 2017 Revista: apenas para a 1a. publicaçãohttps://creativecommons.org/licenses/by-nc/4.0info:eu-repo/semantics/openAccessAndrade dos Santos, EdicreiaLara, Flávio LuizMendes de Oliveira, RenataLunkes, Rogério João2021-11-22T12:07:32Zoai:periodicos.ufc:article/32298Revistahttp://periodicos.ufc.br/contextusPUBhttp://periodicos.ufc.br/contextus/oairevistacontextus@ufc.br2178-92581678-2089opendoar:2021-11-22T12:07:32Contextus (Fortaleza. Online) - Universidade Federal do Ceará (UFC)false |
dc.title.none.fl_str_mv |
Characteristics of the board of directors’ members and their relationship with strategic decisions to raise funds: evidence in companies listed on BM&FBovespa Características de los miembros del consejo de administración y su relación con las decisiones estratégicas de captación de recursos: evidencias en empresas relacionadas en la BM&FBovespa Características dos membros do conselho de administração e sua relação com as decisões estratégicas de captação de recursos: evidências em empresas listadas na BM&FBovespa |
title |
Characteristics of the board of directors’ members and their relationship with strategic decisions to raise funds: evidence in companies listed on BM&FBovespa |
spellingShingle |
Characteristics of the board of directors’ members and their relationship with strategic decisions to raise funds: evidence in companies listed on BM&FBovespa Andrade dos Santos, Edicreia |
title_short |
Characteristics of the board of directors’ members and their relationship with strategic decisions to raise funds: evidence in companies listed on BM&FBovespa |
title_full |
Characteristics of the board of directors’ members and their relationship with strategic decisions to raise funds: evidence in companies listed on BM&FBovespa |
title_fullStr |
Characteristics of the board of directors’ members and their relationship with strategic decisions to raise funds: evidence in companies listed on BM&FBovespa |
title_full_unstemmed |
Characteristics of the board of directors’ members and their relationship with strategic decisions to raise funds: evidence in companies listed on BM&FBovespa |
title_sort |
Characteristics of the board of directors’ members and their relationship with strategic decisions to raise funds: evidence in companies listed on BM&FBovespa |
author |
Andrade dos Santos, Edicreia |
author_facet |
Andrade dos Santos, Edicreia Lara, Flávio Luiz Mendes de Oliveira, Renata Lunkes, Rogério João |
author_role |
author |
author2 |
Lara, Flávio Luiz Mendes de Oliveira, Renata Lunkes, Rogério João |
author2_role |
author author author |
dc.contributor.author.fl_str_mv |
Andrade dos Santos, Edicreia Lara, Flávio Luiz Mendes de Oliveira, Renata Lunkes, Rogério João |
description |
The board of directors’ members have an important role for the management of strategies and fundraising as well as they represent an important mechanism of corporate governance, which can influence the company’s performance. In this context, the object of this study is to verify the relation between the observable characteristics of the board of directors and the results of the indicators coming from the strategies and decisions associated to fundraising. The data were obtained from 60 companies with shares in the BM&FBovespa stock exchange between 2011 and 2015. Among the results it is observed that the adjusted and dry capitalization variables present a more significant relation with the variables related to the characteristics of the administrative council’s managers. It was also possible to identify the necessity to diversify the characteristics of the members in the top management, considering the small participation of women and the predominance of older managers. |
publishDate |
2017 |
dc.date.none.fl_str_mv |
2017-11-14 |
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/32298 10.19094/contextus.v15i2.955 |
url |
http://periodicos.ufc.br/contextus/article/view/32298 |
identifier_str_mv |
10.19094/contextus.v15i2.955 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
http://periodicos.ufc.br/contextus/article/view/32298/pdf http://periodicos.ufc.br/contextus/article/view/32298/98266 http://periodicos.ufc.br/contextus/article/view/32298/165802 http://periodicos.ufc.br/contextus/article/view/32298/165803 http://periodicos.ufc.br/contextus/article/view/32298/165804 http://periodicos.ufc.br/contextus/article/view/32298/165805 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2017 Revista: apenas para a 1a. publicação https://creativecommons.org/licenses/by-nc/4.0 info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2017 Revista: apenas para a 1a. publicação https://creativecommons.org/licenses/by-nc/4.0 |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf application/vnd.openxmlformats-officedocument.wordprocessingml.document 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 15 No 2: mai/ago 2017; 165-187 Contextus – Revista Contemporánea de Economía y Gestión; Vol. 15 Núm. 2: mai/ago 2017; 165-187 Contextus – Revista Contemporânea de Economia e Gestão; v. 15 n. 2: mai/ago 2017; 165-187 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) |
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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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