This is a PowerPoint presentation that discusses the corporate governance failures behind major corporate scandals of the earlier 21st century. Initially, it details both Enron and Parmalat cases, considered the most emblematic and richer ones from the 2001-2003 period. For each one, I present...

This is a PowerPoint presentation that debates the role of institutional investors as relevant shareholders on corporate governance in Brazil. The data provides correlational evidence that the presence of some institutional investors such as largest pension funds and the (Brazilian Development...

We investigate whether the concentration of power in the hands of individuals characterized as business leaders influences the variability of corporate performance. We do so by proposing an original method to estimate the concentration of power that takes into account both the individual...

This text is a collection of twelve short essays that aim to discuss several recent issues from the corporate governance literature: 1. Anatomy of a disaster: what are the interrelated causes that generate corporate governance collapses around the world? 2. A matter of principles: returning to...

I investigate the effect of employee satisfaction on corporate performance based on an extensive dataset of 114,004 online reviews of Brazil's 1,000 largest listed and unlisted firms from 2013 to 2018 posted at a local subsidiary of Glassdoor. I find that overall employee satisfaction is...

I investigate the relationship between unethical culture and financial performance based on a text analysis of over 100,000 employee reviews posted at Glassdoor in Brazil. My measure of unethical culture is based on the “two-factor model of ethical culture” developed by Ethical Systems. The...

This is a PPT presentation connecting the emerging field of behavioral ethics to corporate governance in a concise and practical way. Key takeaways are that: 1. We tend to overestimate our ethical behavior; 2. Most of the wrong things are done by good people due to contextual pressures and...

This paper surveys the literature criticizing the view that managers should run companies aiming to create shareholder value by maximizing stock prices. Based on a multidisciplinary approach, I include empirical and theoretical papers from fields such as corporate law, management, finance,...

This is a PPT presentation that discusses what is coming next on corporate governance (CG) and in which ways the successful business of the 21st century will differ from its successful 20th century counterpart. The presentation is divided into five key messages: 1) This is a moment of lower...

A preliminary court injunction based on alleged personal security risks to managers and directors gave Brazilian public companies the option of non-compliance with the most sensitive part of newly mandated compensation disclosure rules. We find, however, no association between state-level crime...