A Proposal of a Conceptual Framework for Corporate Governance Research

• Autor(a) principal: Trambacos, Fernando
• Data de Publicação: 2021
• Outros Autores: Albanez, Tatiana, Carvalho, Luiz Nelson Guedes de
• Tipo de documento: Artigo
• Idioma: eng
• Título da fonte: Contabilidade, Gestão e Governança
• Texto Completo: https://revistacgg.org/index.php/contabil/article/view/2709
• topic: corporate governance theories; board of director mechanisms; ownership mechanisms; market control mechanisms; teorias de governança corporativa; mecanismos do conselho de administração; mecanismos de propriedade; mecanismos do mercado de controle acionário

Objective: This paper aims at presenting and discussing a conceptual framework for corporate governance research. Method: The structure adopted for this framework derives from our analysis of some of the existing conceptual frameworks for corporate governance, which, despite their strengths, still fail to achieve a consensus and establish a shared structure. Originality/Relevance: It is our understanding, therefore, that the original framework proposed in this paper is more structured and comprehensive regarding the current literature than previous frameworks. Results: The proposed framework starts from the classic division between internal and external environment variables and then divides the internal environment into three dimensions: (i) structural (principal-principal relations); (ii) operational (principal-agent relations); and (iii) behavioral (interpersonal relations). All these categories contain extremely relevant discussions and enable researchers to view corporate governance as an integrated whole. Theoretical/Methodological contributions: Under an academic perspective, the proposed framework consolidates the knowledge produced within the field in a structured way and facilitates a harmonious and integrated understanding of its different facets. Social/management contributions: Professionals and regulators can use our framework to have a structured and integrated view of the existing corporate governance mechanisms, assisting their decisions in the elaboration of policies and recommendations.