Governança corporativa e criação de valor para os investidores no mercado brasileiro de capitais

Abstract

Companies that have higher levels of transparency and employ different mechanisms of governance aiming to reduce conflicts of interest between managers and owners are generally well conquests by the market. Larger and more detailed information on market volumes on the main administrative acts and financial statements, and the adoption of standards that unify the same economic-financial language may instigate savers to buy shares of the company, contributing to better pricing of shares. The harmonization and business adoption of a homogeneous language understood by regulators, investors, analysts, auditors and users of financial information, regardless of source location and strengthened the image of the companies. In this sense this study aimed to investigate the relationship between corporate governance and value creation for shareholders in the Brazilian capital market during the period 2008 to 2012 for this fact performed literature searches, master's theses and scientific articles about working theme. Data in Economática to be worked and later analyzed were also collected. This study consists of predominantly quantitative and descriptive form based on statistical procedures. The results were satisfactory and confirming hypothesis 1.