FAMILY OWNERSHIP AND STOCK OPTIONS FOR DIRECTORSHIP OF BRAZILIAN COMPANIES
Autor(a) principal: | |
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Data de Publicação: | 2014 |
Outros Autores: | , , |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Revista Ambiente Contábil |
Texto Completo: | https://periodicos.ufrn.br/ambiente/article/view/4295 |
Resumo: | This study purpose to investigate the effect of family ownership on stock options for directorship of Brazilian companies. We used a sample of 71 companies that practiced stock options in 2010 and 71 in 2011, a total sample of 142 observations. The research is classified as descriptive, documentary and quantitative character. The results show that non-family firms have higher stock options practice that family business. The results also indicate that family businesses prefer to keep the company's shares with the family, even though such action may limit the company's performance. However, it could be demonstrated that the percentage of capital concentration with family influences the practice of stock options directorship. We conclude that family firms deprive the preservation of the family property, as well as stock options in family firms is not influenced by the degree of concentration of the company's shares held by the family. Keywords: Family ownership. Stock options. Directorship. |
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FAMILY OWNERSHIP AND STOCK OPTIONS FOR DIRECTORSHIP OF BRAZILIAN COMPANIESPROPIEDAD DE LA FAMILIA Y LA REMUNERACIÓN BASADA EN ACCIONES DE LA DIRECCIÓN DE EMPRESAS BRASILEÑASPROPRIEDADE FAMILIAR E REMUNERAÇÃO BASEADA EM AÇÕES DA DIRETORIA DAS EMPRESAS BRASILEIRASThis study purpose to investigate the effect of family ownership on stock options for directorship of Brazilian companies. We used a sample of 71 companies that practiced stock options in 2010 and 71 in 2011, a total sample of 142 observations. The research is classified as descriptive, documentary and quantitative character. The results show that non-family firms have higher stock options practice that family business. The results also indicate that family businesses prefer to keep the company's shares with the family, even though such action may limit the company's performance. However, it could be demonstrated that the percentage of capital concentration with family influences the practice of stock options directorship. We conclude that family firms deprive the preservation of the family property, as well as stock options in family firms is not influenced by the degree of concentration of the company's shares held by the family. Keywords: Family ownership. Stock options. Directorship.Este estudio tiene como objetivo investigar el efecto de la propiedad de la familia en la compensación basada en acciones de los ejecutivos de las empresas brasileñas. Se utilizó una muestra de 71 empresas que practican la compensación basada en 2010, y 71 en 2011, una muestra total de 142 observaciones. La investigación se clasifica como carácter descriptivo, documental y cuantitativo. Los resultados muestran que las empresas no tienen una mayor compensación basada en la familia que las empresas familiares. Los resultados también indican que las empresas familiares prefieren mantener las acciones de la empresa con la familia, a pesar de que tal acción puede limitar el rendimiento de la empresa. Sin embargo, se pudo demostrar que el porcentaje de concentración de capital con la familia influye en la compensación basada en acciones, la junta directiva. Llegamos a la conclusión de que las empresas familiares privan a la preservación de la propiedad de la familia, así como la compensación basada en acciones en las empresas familiares no se ve influida por el grado de concentración de las acciones de la compañía en manos de la familia. Palabras clave: Propiedad de la familia. Compensación basada en acciones. Este estudo objetiva verificar o efeito da propriedade familiar na remuneração baseada em ações dos membros da diretoria das empresas brasileiras. Utilizou-se uma amostra de 71 empresas que praticaram remuneração baseada em ações no exercício de 2010 e 71 em 2011, totalizando uma amostra de 142 observações. A pesquisa classifica-se como descritiva, documental e de caráter quantitativo. Os resultados apontam que as empresas não familiares possuem maior remuneração baseada em ações que as empresas familiares. Os resultados indicam, também, que as empresas familiares preferem manter as ações da empresa com a família, ainda que tal atitude possa limitar o desempenho da empresa. Contudo, não se pôde confirmar que o percentual de concentração de capital com a família influencia a remuneração baseada em ações da diretoria. Conclui-se que as empresas familiares privam pela conservação da propriedade familiar, bem como a remuneração baseada em ações nas empresas familiares não é influenciada pelo grau de concentração das ações da empresa em poder da família.Palavras-chave: Propriedade familiar. Remuneração baseada em ações. Diretoria.Portal de Periódicos Eletrônicos da UFRN2014-01-06info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfapplication/ziphttps://periodicos.ufrn.br/ambiente/article/view/4295REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte; Vol. 6 No. 1 (2014): Jan./Jun.; 183-201REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte; Vol. 6 Núm. 1 (2014): Jan./Jun.; 183-201REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte - ISSN 2176-9036; v. 6 n. 1 (2014): Jan./Jun.; 183-2012176-9036reponame:Revista Ambiente Contábilinstname:Universidade Federal do Rio Grande do Norte (UFRN)instacron:UFRNporhttps://periodicos.ufrn.br/ambiente/article/view/4295/3997https://periodicos.ufrn.br/ambiente/article/view/4295/10194Copyright (c) 2016 REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte - ISSN 2176-9036info:eu-repo/semantics/openAccessPolitelo, LeandroKaveski, Itzhak David SimãoChiarello, Tânia CristinaSilva, Tarcísio Pedro da2019-10-09T22:32:48Zoai:periodicos.ufrn.br:article/4295Revistahttps://periodicos.ufrn.br/ambientePUBhttps://periodicos.ufrn.br/ambiente/oai||prof.mauriciocsilva@gmail.com2176-90362176-9036opendoar:2019-10-09T22:32:48Revista Ambiente Contábil - Universidade Federal do Rio Grande do Norte (UFRN)false |
dc.title.none.fl_str_mv |
FAMILY OWNERSHIP AND STOCK OPTIONS FOR DIRECTORSHIP OF BRAZILIAN COMPANIES PROPIEDAD DE LA FAMILIA Y LA REMUNERACIÓN BASADA EN ACCIONES DE LA DIRECCIÓN DE EMPRESAS BRASILEÑAS PROPRIEDADE FAMILIAR E REMUNERAÇÃO BASEADA EM AÇÕES DA DIRETORIA DAS EMPRESAS BRASILEIRAS |
title |
FAMILY OWNERSHIP AND STOCK OPTIONS FOR DIRECTORSHIP OF BRAZILIAN COMPANIES |
spellingShingle |
FAMILY OWNERSHIP AND STOCK OPTIONS FOR DIRECTORSHIP OF BRAZILIAN COMPANIES Politelo, Leandro |
title_short |
FAMILY OWNERSHIP AND STOCK OPTIONS FOR DIRECTORSHIP OF BRAZILIAN COMPANIES |
title_full |
FAMILY OWNERSHIP AND STOCK OPTIONS FOR DIRECTORSHIP OF BRAZILIAN COMPANIES |
title_fullStr |
FAMILY OWNERSHIP AND STOCK OPTIONS FOR DIRECTORSHIP OF BRAZILIAN COMPANIES |
title_full_unstemmed |
FAMILY OWNERSHIP AND STOCK OPTIONS FOR DIRECTORSHIP OF BRAZILIAN COMPANIES |
title_sort |
FAMILY OWNERSHIP AND STOCK OPTIONS FOR DIRECTORSHIP OF BRAZILIAN COMPANIES |
author |
Politelo, Leandro |
author_facet |
Politelo, Leandro Kaveski, Itzhak David Simão Chiarello, Tânia Cristina Silva, Tarcísio Pedro da |
author_role |
author |
author2 |
Kaveski, Itzhak David Simão Chiarello, Tânia Cristina Silva, Tarcísio Pedro da |
author2_role |
author author author |
dc.contributor.author.fl_str_mv |
Politelo, Leandro Kaveski, Itzhak David Simão Chiarello, Tânia Cristina Silva, Tarcísio Pedro da |
description |
This study purpose to investigate the effect of family ownership on stock options for directorship of Brazilian companies. We used a sample of 71 companies that practiced stock options in 2010 and 71 in 2011, a total sample of 142 observations. The research is classified as descriptive, documentary and quantitative character. The results show that non-family firms have higher stock options practice that family business. The results also indicate that family businesses prefer to keep the company's shares with the family, even though such action may limit the company's performance. However, it could be demonstrated that the percentage of capital concentration with family influences the practice of stock options directorship. We conclude that family firms deprive the preservation of the family property, as well as stock options in family firms is not influenced by the degree of concentration of the company's shares held by the family. Keywords: Family ownership. Stock options. Directorship. |
publishDate |
2014 |
dc.date.none.fl_str_mv |
2014-01-06 |
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 |
https://periodicos.ufrn.br/ambiente/article/view/4295 |
url |
https://periodicos.ufrn.br/ambiente/article/view/4295 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
https://periodicos.ufrn.br/ambiente/article/view/4295/3997 https://periodicos.ufrn.br/ambiente/article/view/4295/10194 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf application/zip |
dc.publisher.none.fl_str_mv |
Portal de Periódicos Eletrônicos da UFRN |
publisher.none.fl_str_mv |
Portal de Periódicos Eletrônicos da UFRN |
dc.source.none.fl_str_mv |
REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte; Vol. 6 No. 1 (2014): Jan./Jun.; 183-201 REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte; Vol. 6 Núm. 1 (2014): Jan./Jun.; 183-201 REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte - ISSN 2176-9036; v. 6 n. 1 (2014): Jan./Jun.; 183-201 2176-9036 reponame:Revista Ambiente Contábil instname:Universidade Federal do Rio Grande do Norte (UFRN) instacron:UFRN |
instname_str |
Universidade Federal do Rio Grande do Norte (UFRN) |
instacron_str |
UFRN |
institution |
UFRN |
reponame_str |
Revista Ambiente Contábil |
collection |
Revista Ambiente Contábil |
repository.name.fl_str_mv |
Revista Ambiente Contábil - Universidade Federal do Rio Grande do Norte (UFRN) |
repository.mail.fl_str_mv |
||prof.mauriciocsilva@gmail.com |
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