Brazil: recent corporate governance advancements and retreats

Detalhes bibliográficos
Autor(a) principal: Leal, Ricardo Pereira Câmara
Data de Publicação: 2016
Outros Autores: Maranho, Flávia S.
Tipo de documento: Relatório
Idioma: eng
Título da fonte: Repositório Institucional da UFRJ
Texto Completo: http://hdl.handle.net/11422/12322
Resumo: This article overviews recent developments and set backs in the regulation and selfregulation of Brazilian corporate governance. Ownership transitioned from concentrated control dominance to a mixed pattern of a substantial minority of companies with shared control under shareholder agreements and a few dispersed ownership companies. Recent statistics suggest a reversal in this trend with the increase in concentrated control companies. Companies that once embraced premium trading lists that required better corporate governance practices resisted a tightening of this self-regulation and some successfully and lawfully did not comply with new compensation disclosure regulation. Many companies have gone back private. Institutional investors, in general, did not show an effective contribution to corporate governance improvement in their investees and the largest ones face serious internal conflict of interest issues.
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spelling Brazil: recent corporate governance advancements and retreatsCarteira de investimentoCNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAOThis article overviews recent developments and set backs in the regulation and selfregulation of Brazilian corporate governance. Ownership transitioned from concentrated control dominance to a mixed pattern of a substantial minority of companies with shared control under shareholder agreements and a few dispersed ownership companies. Recent statistics suggest a reversal in this trend with the increase in concentrated control companies. Companies that once embraced premium trading lists that required better corporate governance practices resisted a tightening of this self-regulation and some successfully and lawfully did not comply with new compensation disclosure regulation. Many companies have gone back private. Institutional investors, in general, did not show an effective contribution to corporate governance improvement in their investees and the largest ones face serious internal conflict of interest issues.Este artigo examina avanços e recuos recentes na regulamentação e auto-regulação das práticas de governança corporativa no Brasil. Os direitos de propriedade passaram da dominância do controle concentrado para um padrão misto com uma minoria substancial de companhias com controle compartilhado sob um acordo de acionistas e algumas empresas com propriedade dispersa. Estatísticas recentes sugerem uma reversão dessa tendência com o aumento de companhias com controle concentrado. Empresas que um dia abraçaram os segmentos de listagem prêmio que exigiam melhores práticas de governança corporativa resistiram a um robustecimento desta auto-regulação e algumas não cumpriram as novas regras de transparência acerca da remuneração com sucesso e respaldo legal. Muitas companhias fecharam o capital. Os investidores institucionais, em geral, não contribuíram efetivamente para a melhoria da governança corporativa nas firmas em que investem e os maiores enfrentam sérios problemas internos de conflitos de interesse.Universidade Federal do Rio de JaneiroBrasilInstituto COPPEAD de AdministraçãoUFRJ2020-05-29T14:54:27Z2023-12-21T03:07:08Z2016info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/reportLEAL, Ricardo Pereira Câmara; MARANHO, Flávia S. Brazil: recent corporate governance advancements and retreats. Rio de Janeiro: UFRJ, 2016. (Relatórios COPPEAD, 426).97885750811361518-3335http://hdl.handle.net/11422/12322engRelatórios COPPEADLeal, Ricardo Pereira CâmaraMaranho, Flávia S.info:eu-repo/semantics/openAccessreponame:Repositório Institucional da UFRJinstname:Universidade Federal do Rio de Janeiro (UFRJ)instacron:UFRJ2023-12-21T03:07:08Zoai:pantheon.ufrj.br:11422/12322Repositório InstitucionalPUBhttp://www.pantheon.ufrj.br/oai/requestpantheon@sibi.ufrj.bropendoar:2023-12-21T03:07:08Repositório Institucional da UFRJ - Universidade Federal do Rio de Janeiro (UFRJ)false
dc.title.none.fl_str_mv Brazil: recent corporate governance advancements and retreats
title Brazil: recent corporate governance advancements and retreats
spellingShingle Brazil: recent corporate governance advancements and retreats
Leal, Ricardo Pereira Câmara
Carteira de investimento
CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO
title_short Brazil: recent corporate governance advancements and retreats
title_full Brazil: recent corporate governance advancements and retreats
title_fullStr Brazil: recent corporate governance advancements and retreats
title_full_unstemmed Brazil: recent corporate governance advancements and retreats
title_sort Brazil: recent corporate governance advancements and retreats
author Leal, Ricardo Pereira Câmara
author_facet Leal, Ricardo Pereira Câmara
Maranho, Flávia S.
author_role author
author2 Maranho, Flávia S.
author2_role author
dc.contributor.author.fl_str_mv Leal, Ricardo Pereira Câmara
Maranho, Flávia S.
dc.subject.por.fl_str_mv Carteira de investimento
CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO
topic Carteira de investimento
CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO
description This article overviews recent developments and set backs in the regulation and selfregulation of Brazilian corporate governance. Ownership transitioned from concentrated control dominance to a mixed pattern of a substantial minority of companies with shared control under shareholder agreements and a few dispersed ownership companies. Recent statistics suggest a reversal in this trend with the increase in concentrated control companies. Companies that once embraced premium trading lists that required better corporate governance practices resisted a tightening of this self-regulation and some successfully and lawfully did not comply with new compensation disclosure regulation. Many companies have gone back private. Institutional investors, in general, did not show an effective contribution to corporate governance improvement in their investees and the largest ones face serious internal conflict of interest issues.
publishDate 2016
dc.date.none.fl_str_mv 2016
2020-05-29T14:54:27Z
2023-12-21T03:07:08Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/report
format report
status_str publishedVersion
dc.identifier.uri.fl_str_mv LEAL, Ricardo Pereira Câmara; MARANHO, Flávia S. Brazil: recent corporate governance advancements and retreats. Rio de Janeiro: UFRJ, 2016. (Relatórios COPPEAD, 426).
9788575081136
1518-3335
http://hdl.handle.net/11422/12322
identifier_str_mv LEAL, Ricardo Pereira Câmara; MARANHO, Flávia S. Brazil: recent corporate governance advancements and retreats. Rio de Janeiro: UFRJ, 2016. (Relatórios COPPEAD, 426).
9788575081136
1518-3335
url http://hdl.handle.net/11422/12322
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Relatórios COPPEAD
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.publisher.none.fl_str_mv Universidade Federal do Rio de Janeiro
Brasil
Instituto COPPEAD de Administração
UFRJ
publisher.none.fl_str_mv Universidade Federal do Rio de Janeiro
Brasil
Instituto COPPEAD de Administração
UFRJ
dc.source.none.fl_str_mv reponame:Repositório Institucional da UFRJ
instname:Universidade Federal do Rio de Janeiro (UFRJ)
instacron:UFRJ
instname_str Universidade Federal do Rio de Janeiro (UFRJ)
instacron_str UFRJ
institution UFRJ
reponame_str Repositório Institucional da UFRJ
collection Repositório Institucional da UFRJ
repository.name.fl_str_mv Repositório Institucional da UFRJ - Universidade Federal do Rio de Janeiro (UFRJ)
repository.mail.fl_str_mv pantheon@sibi.ufrj.br
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