This paper investigates the simultaneous participation of directors in different companies from a sample of 320 Brazilian listed firms in 2001, 2003 and 2005. We identify which firms are connected through a network of directors, which corporate characteristics contribute to this phenomenon, and...

Spanish Abstract: Esta es una presentación PPT que discute el futuro del gobierno corporativo (GC) y como el negocio exitoso del siglo XXI será diferente de su contra-parte del siglo XX. La presentación contiene siete mensajes clave:1. El mundo está pasando por cambios estructurales que...

This is a PDF file with a presentation about the history and panorama of Corporate Governance and Capital Markets in Brazil, as of earlier 2014. It intends to help foreign researchers and practitioners to understand the evolution of the debates about corporate governance in Brazil, as well as...

Corporate governance studies typically assume that the CEO is the main locus of business power. However, when the CEO and Chairman positions are split, the de facto role of corporate leader may reside in the hands of a person who usually chairs the board but does not necessarily hold the CEO...

Related Party Transactions (RPTs) are operations with high potential for conflict of interests between shareholders and managers or between controlling and minority shareholders. In environments characterized by concentrated ownership structures, such as in Brazilian, such transactions could be...

This paper investigates the impact of announcements of material weaknesses on internal controls on share prices of Latin America companies listed with ADRs levels II and III. An event study methodology was applied based on the Filing Date of Annual Report 20-F submitted to Securities and...

This paper analyzes the determinants of the differential pricing of equity classes (voting and non-voting shares) or the so-called dual-class premium (DCP) in Brazil from 1995 to 2006 with a focus on two specific corporate governance aspects: i) the granting of tag along rights, a mandatory bid...

Most Economics and Finance research relegates the possible influence of managers' personal characteristics or "style" over the main corporate policies and firm performance to a secondary level, preferably investigating market, industry or firm characteristics. However, a growing theoretical and...

We provide an empirical overview of women’s under-representation in positions of senior management in Brazil, including the board of directors and "C" level positions. We do so by collecting data on 73,901 top managerial positions of 837 different publicly held companies throughout sixteen...

A poor ethical culture has been considered one of the reasons for the emergence of many corporate governance scandals. In this paper, I investigate the link between two corporate governance mechanisms – the composition of the board of directors and ownership structure – and ethical culture...