Corporate Governance in Brazil

Antonio Gledson Carvalho, Humberto Gallucci Netto and Joelson Oliveira Sampaio

Chapter 4 in Corporate Governance, Responsibility and Sustainability, 2015, pp 56-77 from Palgrave Macmillan

Abstract: Abstract Until the 1990s Brazil was considered a speculative destination for international investors. The instability of the country’s institutions was evident: for more than a quarter of a century the rate of inflation had been double-digit. Financial scandals were quite frequent. The most notorious ones were the default on the Brazilian sovereign debt in 1987, and the Collor Economic Plan that in 1991 seized savings and checking account balances from the whole population. A clear reflex of such instability was the rating for Brazilian government debt that remained under investment grade until 2008. Recently, the country’s image has improved greatly. Milestones of improvement include growing macroeconomic stability, control of inflation, achievement of investment-grade status for government debt and many individual firms, strong economic growth and major Brazilian firms becoming world-class competitors.

Keywords: Stock Market; Corporate Governance; Independent Director; Pension Fund; Audit Committee (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-36185-1_4

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DOI: 10.1057/9781137361851_4

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