Banca de DEFESA: ALEXANDRE DO VALE LIMA

Uma banca de DEFESA de MESTRADO foi cadastrada pelo programa.
STUDENT : ALEXANDRE DO VALE LIMA
DATE: 22/12/2020
TIME: 09:00
LOCAL: VIDEOCONFERÊNCIA (https://us02web.zoom.us/j/87943710053.)
TITLE:
KEY WORDS:

Corporate Governance; State-owned companies (SOE); Law 13.303/16;
Hard law; Content analysis.

PAGES: 171
BIG AREA: Ciências Sociais Aplicadas
AREA: Administração
SUMMARY:

Corporate governance has been gaining prominence in government and academic
interest in recent years, being seen as a tool for preventing economic crises by
increasing the reliability of companies. International organizations have proposed to
disseminate good practices in the area through publications of principles and guidelines,
as well as by promoting academic studies on the effects of good governance. In the
meantime, different countries have reformed their laws in favor of implementing these
best practices. In Brazil, after successive cases of corruption involving state-owned
companies, Law 13.303/16, known as the State-Owned Liability Law, was enacted in
June 2016, which brings a series of recommendations in favor of an improvement in the
corporate governance of Brazilian state-owned companies. In view of this scenario, this
work sought to evaluate the adoption of the new legislation on two aspects: the
alignment of the regulation in relation to international governance principles and the
dynamics of the implementation of practices by companies. Using the document “OECD
Corporate Governance Guidelines for State-Owned Companies”, published in 2015 and
the 5th edition of the Code of Best Corporate Governance Practices produced by the
Brazilian Institute of Corporate Governance (IBGC), as a reference basis, the study
carried out a convergence analysis of 65 governance practices brought by the new
legislation and in a second moment evaluated 23 state-owned companies listed at B3 in
relation to the implementation of 48 practices instituted by the law based on an indicator
based on IG-SEST. The results obtained validate previous studies when concluding that
Law 13.303/16 is in large part adhering to the best international practices in the area of
corporate governance, but it expands the knowledge acquired by identifying points
where the legislation does not have the alignment with that recommended in the
documents of area reference. Regarding the implementation of practices by companies,
the governance indicator (Adjusted IG-SEST) shows that the implementation of the
legislation occurred in large part, however, practices and companies with delay in
implementation were identified. As a product, there are also findings of distinctions
between companies in different sectors, spheres of control and firm size, and finally the
conclusion that Brazilian state-owned companies have a tendency to reactively adopt
governance practices, with the model of rigid law ( hard law) best suited to achieve the
objective of increasing the level of corporate governance of these companies in Brazil.

BANKING MEMBERS:
Presidente - 2413052 - ANNE EMILIA COSTA CARVALHO
Interno - 1510488 - LUCIANO MENEZES BEZERRA SAMPAIO
Externo à Instituição - JOAQUIM RUBENS FONTES FILHO
Externo à Instituição - RAIMUNDO MARCIANO DE FREITAS NETO - IFRN