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Previous issue date: 2006-12-11 / The globalization of the stock market has put into evidence not only issues related to the practice of corporate governance but also concerning the shareholder s possibilities of gains. Therefore, guided by theoretical fundamentals, it was made the attempt to observe the conduct of the companies listed at the Differentiated Levels of Corporate Governance as well as at the Bovespa New Market in order to reach the following purposes: (a) to verify whether or not the afore mentioned companies adopt the practices mostly recommended by the Value Based Management (VBM); (b) to verify the level of importance the companies, adopting the VBM model, give to the mostly recommended practices; (c) to verify whether the companies adopting the VBM model, count with more valuable stocks than the ones not doing so. It could be verified that 45% of the companies listed at the Differentiated Levels of Corporate Governance as well as at the Bovespa New Market adopt the VBM model, and such companies, according to the theoretical fundamentals, let themselves be guided by the so called good VBM practices at a rate of 47%. The importance given to the model - when putting the model into practice reached 91%. At last, it was verified that the differences - as far as the stock ratings are concerned between the companies adopting the VBM model and those not adopting the VBM model are not statistically significant. / Com a globaliza????o do mercado de a????es, colocam-se em evid??ncia os temas relacionados a boas pr??ticas de governan??a corporativa e a gera????o de riqueza ao acionista. Assim sendo, procurou-se observar, ?? luz dos pressupostos te??ricos, o comportamento das empresas listadas nos N??veis Diferenciados de Governan??a Corporativa e Novo Mercado da Bovespa, com os seguintes objetivos: (a) verificar se essas empresas adotam as pr??ticas mais indicadas de Gest??o Baseada em Valor (GBV); (b) verificar a import??ncia dada, pelas empresas que adotam o modelo, ??s pr??ticas mais indicadas; e (c) verificar se as empresas, que adotam o modelo, possuem a????es mais valorizadas do que as demais. Constatou-se que 45% das empresas listadas nos N??veis Diferenciados de Governan??a Corporativa e Novo Mercado da Bovespa adotam o modelo de GBV, e estas, ainda segundo os pressupostos te??ricos, possuem alinhamento de 47% das boas pr??ticas de GBV. A import??ncia dada ao modelo, por meio das pr??ticas, foi de 91%. Constatou-se, por fim, que as diferen??as nas cota????es das empresas que adotam o modelo de GBV, em rela????o ??s empresas que n??o adotam o modelo, n??o s??o, estatisticamente, significativas.
| Identifer | oai:union.ndltd.org:IBICT/oai:132.0.0.61:tede/489 |
| Date | 11 December 2006 |
| Creators | Cabello, Ot??vio Gomes |
| Contributors | Parisi, Claudio, Lima, Iran Siqueira, Oliveira, Antonio Benedito Silva |
| Publisher | FECAP - Faculdade Escola de Com??rcio ??lvares Penteado, Mestrado em Ci??ncias Cont??beis, FECAP, BR, Controladoria e Contabilidade |
| Source Sets | IBICT Brazilian ETDs |
| Language | Portuguese |
| Detected Language | English |
| Type | info:eu-repo/semantics/publishedVersion, info:eu-repo/semantics/masterThesis |
| Format | application/pdf |
| Source | reponame:Biblioteca Digital de Teses e Dissertações do FECAP, instname:Fundação Aramando Álvares Penteado, instacron:FAAP |
| Rights | info:eu-repo/semantics/openAccess |
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