Influence of corporate governance and audit on the performance of publicly held companies

• Autor(a) principal: Batistella, Ana Julia
• Data de Publicação: 2022
• Outros Autores: Kruger, Silvana Dalmutt, Moura, Geovanne Dias de
• Tipo de documento: Artigo
• Idioma: por
• Título da fonte: RACE (Joaçaba. Online)
• Texto Completo: https://periodicos.unoesc.edu.br/race/article/view/23880
• topic: Governança Corporativa; Comitê de Auditoria.; Desempenho; Corporate Governance; Audit Committee; Performance

The adoption of good governance practices helps in information asymmetry, enhances the company's image in the market, as well as competitiveness, helping in the growth and evolution of performance. Therefore, this study aims to analyze the influence of corporate governance and auditing practices on the performance of publicly-held companies listed on B3. This is a descriptive research, with document analysis and a quantitative approach. The research sample comprised publicly-held companies listed on B3, from 2011 to 2017. Linear regression was used to process the data. It was found that the “Percentage of independent members on the Board of Directors” has an inverse influence on the ROA indicator, that is, the higher the percentage, the lower the ROA. The same result was also repeated with the ROE indicator. As for Tobin's MTB and Q, the differentiated level of governance and higher percentages of independent members influence the indicators, that is, the more governance practices implemented in organizations, the better the perception of Tobin's MTB and Q indicators. The results confirm that good governance practices, including the constitution of external audit committees, influence the performance of firms. In this way, the study is justified because, in addition to offering relevant information to managers, regulators, analysts and stakeholders, it allows a look in the light of the Agency Theory, which suggests that independent directors on the Board of Directors and Audit Committees provide effective monitoring of management, and that corporate governance is capable of improving the performance of organizations.