This research examines the determinants of the capital structure of firms introducing a behavioral perspective that has received little attention in the empirical corporate finance literature. Specifically, we investigate a central hypothesis that emerges from a set of recently developed...

This paper investigates the influence of corporate governance quality on market value of 154 Brazilian listed companies in 2002. In order to obtain a proxy for corporate governance quality, a broad governance index was built. The investigation was carried out by different econometric approaches...

This paper analyzes the evolution and the determinants of firm-level corporate governance practices in Brazil from 1998 to 2004 using a broad corporate governance index. A key contribution is to examine the voluntary adoption of corporate governance guidelines under an almost quot;no listing...

Corporate governance has become a hot topic in Brazil in the past few years, with several events and lectures about the subject taking place nowadays. At these venues, it's possible to identify some common statements about this topic made by market practitioners which have seemed to become...

This paper provides a qualitative and in-depth discussion of corporate governance in Brazil. It is divided into five sections: i) historical perspective and corporate governance landmarks; ii) main recommendations of the two Brazilian codes of best practices; iii) Bovespa's Novo Mercado; iv)...

The main agency conflict in concentrated ownership environments occurs between controlling and minority shareholders. We investigate the impact on share prices when news released on the specialized media indicates that the interests of these groups diverge. Specifically, we analyze 24...