Construção de conhecimento em governança corporativa: estudo sobre a criação de valor para tomada de decisão de investidores no mercado de capitais

Content Provider	Semantic Scholar
Author	Lopes, Elaine Cristina
Copyright Year	2014
Abstract	The development of the Brazilian capital market in the last two decades has been set by a number of factors such as the market internalization, the worldwide development of companies, and the advent of new technologies. This development scenario culminates in the importance of the entrepreneurial capitalization, whose sources has been traditionally allied to the access to capital, which refers to the sale of part of company shares to a diverse audience. Such capitalization modality offers some benefits to the companies, however, it also brings a number of duties, especially in what concerns property structure. The focus in these structure relations involves controlling and other shareholders considering the effects from these sometimes troubled relationships. As part of the group of shareholders who are not in control of the company, there are the “institutional investors” presented here as “pension funds”, the foreign investors and the individual investors, representing the small shareholders. These three types of investors represent today 92.78% of all operations carried out in the stock market. With the creation of Corporate Governance, this relation is now center of debate in a search for a model to allow the alignment of interests. The corporate governance can be understood as a set of guidelines to the operation of the companies in order to provide benefits to every part involved. Based in previous researches, it was found that most part of the “small shareholders” are not familiar with the value of corporative governance and use only methods of assessment common to this market. In this perspective, the present research is aimed at identifying, firstly based on the literature existent, the elements and individuals taking part of this context and how the construction of knowledge about corporative governance “small shareholders”, as well as how such models are used as tool in the decision-making process. To confirm this, carried out an empirical study of exploratory descriptive, qualitative and quantitative, using a structured questionnaire. For the qualitative analysis used the method 'Content Analysis' proposed by Bardin (1977) and for the quantitative analysis used the method 'Linear Regression Analysis', both focusing on the fundamental principles of corporate governance: transparency, fairness and accountability. The results obtained with the group selected revealed that there is indeed a gap in the knowledge about corporate governance and, in turn, isn’t used for the assessment of capital markets for this type of investor. Thus, attempted to propose a conceptual model for building a knowledge portal which aims to encompass elements of learning that can meet the needs of investors and thereby foster the construction of knowledge about corporate governance.
File Format	PDF HTM / HTML
Alternate Webpage(s)	https://repositorio.unesp.br/bitstream/handle/11449/110392/000793420.pdf?isAllowed=y&sequence=1
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article