Determinants of the Roles Boards of Directors Have in Brazilian Companies

Raimundo Marciano de Freitas Neto and Anderson Luiz Rezende Mol

RAC - Revista de Administração Contemporânea (Journal of Contemporary Administration), 2017, vol. 21, issue spe, 63-83

Abstract: This paper analyses the relationship between the managerial and supervisory roles played by the boards of directors of 108 companies listed on BM&FBovespa's (Brazilian stock market) Novo Mercado and corporate governance variables reported by academic literature that could potentially interfere with the dominance of this role in board meetings. The dominant role was verified through a content analysis based on Schwartz-Ziv and Weisbach's model (2013), while logistic and beta regressions were used to evaluate the determinants, respectively using the ratio of management topics over the total and a binary classification according to this dominance. Board minutes and tax forms from 2010-2013 were analyzed for companies with data for the entire period. Boards were found to play a managerial role more often than a supervisory one, with the most important variables for determining the role are the presence of an ex-CEO on the board and the existence of a fiscal council, with both contributing positively to the predominance for managerial over supervisory.

Date: 2017
References: Add references at CitEc
Citations:

Downloads: (external link)
https://rac.anpad.org.br/index.php/rac/article/view/1254/1250 (text/html)
https://rac.anpad.org.br/index.php/rac/article/download/1254/1250 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:abg:anprac:v:21:y:2017:i:spe:1254

Access Statistics for this article

RAC - Revista de Administração Contemporânea (Journal of Contemporary Administration) is currently edited by Marcelo de Souza Bispo

More articles in RAC - Revista de Administração Contemporânea (Journal of Contemporary Administration) from ANPAD - Associação Nacional de Pós-Graduação e Pesquisa em Administração
Bibliographic data for series maintained by Information Technology of ANPAD ().