Level of Adhesion of the Latin-American Companies to the Principles of Corporate Governance Recommended by Oecd / Nível de adesão de empresas latino-americanas aos princípios de governança corporativa recomendados pela Oecd

AUTOR(ES)

Carlos Henrique Kitagawa

DATA DE PUBLICAÇÃO

2007

RESUMO

The corporate governance can be defined as a set of mechanism in order to reduce the agencys problems. In the intention of converging those mechanisms for a model accept internationally, Oecd created the Principles of Corporate Governance, adopted initially for about 30 countries members. From then on, regional meetings were promoted aiming at the adaptation of those principles to the certain areas of the planet. One of those areas was Latin America, where after the encounters happened in Brazil, Argentina, Mexico and Chile, this Institution formulated a document containing the basic guidelines with recommendations specifics for this region. In this context, the present work search to identify the level of adhesion of the Latin-American companies to the principles recommended by Oecd to Latin America. For this, the report of Oecd that exposes the recommendations of corporate governance were transformed in 49 subjects, subdivided in five principles. The collection of data occurred in two stages: the first consisted of the confrontation of those subjects with the legislations of those four countries. The second stage confronts the subjects with the practices of the companies, in way to identify additional practices in relation which is demanded by the legislation. The obtained results appear that, in general terms, Brazil is the country with larger level of adhesion to the principles of corporate governance recommended by Oecd, followed by Mexico, Chile and Argentina. The principal strong point of this region is the recommendations contained in Principle I, which treats of the shareholdersrights. On the other hand, the Principles III, IV and V, which treat, respectively, of the relationships with stakeholders, disclosure and transparency and the responsibilities of the board administration, they come as the principal weak points.

ASSUNTO(S)

corporate governance in mexico corporate governance in chile governança corporativa no brasil princípios de governança corporativa da oecd oecds principles of corporate governance governança corporativa no méxico corporate governance in brazil governança corporativa no chile governança corporativa na argentina corporate governance in argentina

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