THE EFFECTS OF CORPORATE GOVERNANCE IN CAPITAL STRUCTURE: AN ANALYSIS IN BRAZILIAN BELONGING TO INDEX BM&FBOVESPA CONSUMPTION (ICON)
Corporate governance plays an important role in organizations, since their practices may be crucial to the capital structure of companies and target of interest to entrepreneurs. This study aimed to investigate the attributes of Corporate Governance affect the capital structure of Brazilian companie...
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Vogt, Mara Kaveski, Itzhak David Simão Degenhart, Larissa Monje, Arnaldo da Conceição Hein, Nelson |
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Vogt, Mara Kaveski, Itzhak David Simão Degenhart, Larissa Monje, Arnaldo da Conceição Hein, Nelson THE EFFECTS OF CORPORATE GOVERNANCE IN CAPITAL STRUCTURE: AN ANALYSIS IN BRAZILIAN BELONGING TO INDEX BM&FBOVESPA CONSUMPTION (ICON) |
author_facet |
Vogt, Mara Kaveski, Itzhak David Simão Degenhart, Larissa Monje, Arnaldo da Conceição Hein, Nelson |
author_sort |
Vogt, Mara |
title |
THE EFFECTS OF CORPORATE GOVERNANCE IN CAPITAL STRUCTURE: AN ANALYSIS IN BRAZILIAN BELONGING TO INDEX BM&FBOVESPA CONSUMPTION (ICON) |
title_short |
THE EFFECTS OF CORPORATE GOVERNANCE IN CAPITAL STRUCTURE: AN ANALYSIS IN BRAZILIAN BELONGING TO INDEX BM&FBOVESPA CONSUMPTION (ICON) |
title_full |
THE EFFECTS OF CORPORATE GOVERNANCE IN CAPITAL STRUCTURE: AN ANALYSIS IN BRAZILIAN BELONGING TO INDEX BM&FBOVESPA CONSUMPTION (ICON) |
title_fullStr |
THE EFFECTS OF CORPORATE GOVERNANCE IN CAPITAL STRUCTURE: AN ANALYSIS IN BRAZILIAN BELONGING TO INDEX BM&FBOVESPA CONSUMPTION (ICON) |
title_full_unstemmed |
THE EFFECTS OF CORPORATE GOVERNANCE IN CAPITAL STRUCTURE: AN ANALYSIS IN BRAZILIAN BELONGING TO INDEX BM&FBOVESPA CONSUMPTION (ICON) |
title_sort |
effects of corporate governance in capital structure: an analysis in brazilian belonging to index bm&fbovespa consumption (icon) |
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Corporate governance plays an important role in organizations, since their practices may be crucial to the capital structure of companies and target of interest to entrepreneurs. This study aimed to investigate the attributes of Corporate Governance affect the capital structure of Brazilian companies belonging to the BM&FBovespa consumption (ICON). We conducted a descriptive, quantitative and documentary research. The study population comprised 41 companies belonging to the BM&FBovespa consumption (ICON) and the sample was composed of 22 organizations. Data are from the 2010 to 2013 period for the data analysis used the descriptive analysis, Pearson correlation and regression Data Dashboard. The main results of the study indicated that some mechanisms of Corporate Governance do not have significant influences on capital structure levels of Brazilian companies to open ICON capital. On the other hand, the shareholding and remuneration of directors is shown as the variables that impact significantly on the capital structure of companies. In addition, the size and the degree of liquidity also impacted the capital structure. It follows from the empirical results, the attributes of Corporate Governance, in part, explain the business financing behavior of the BM&FBovespa consumption (ICON).Keywords: Corporate Governance; Capital Structure; BM&FBovespa Consumption (ICON). |
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Portal de Periódicos Eletrônicos da UFRN |
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2017 |
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https://periodicos.ufrn.br/ambiente/article/view/8571 |
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oai:periodicos.ufrn.br:article-85712021-10-19T15:44:56Z THE EFFECTS OF CORPORATE GOVERNANCE IN CAPITAL STRUCTURE: AN ANALYSIS IN BRAZILIAN BELONGING TO INDEX BM&FBOVESPA CONSUMPTION (ICON) LOS EFECTOS DE GOBIERNO CORPORATIVO EN ESTRUCTURA DE CAPITAL: UN ANÁLISIS DE BRAZIL EN PERTENECIENTES AL ÍNDICE BM&FBOVESPA CONSUMO (ICON) OS EFEITOS DA GOVERNANÇA CORPORATIVA NA ESTRUTURA DE CAPITAL: UMA ANÁLISE NAS EMPRESAS BRASILEIRAS PERTENCENTES AO ÍNDICE BM&FBOVESPA DE CONSUMO (ICON) Vogt, Mara Kaveski, Itzhak David Simão Degenhart, Larissa Monje, Arnaldo da Conceição Hein, Nelson Corporate governance plays an important role in organizations, since their practices may be crucial to the capital structure of companies and target of interest to entrepreneurs. This study aimed to investigate the attributes of Corporate Governance affect the capital structure of Brazilian companies belonging to the BM&FBovespa consumption (ICON). We conducted a descriptive, quantitative and documentary research. The study population comprised 41 companies belonging to the BM&FBovespa consumption (ICON) and the sample was composed of 22 organizations. Data are from the 2010 to 2013 period for the data analysis used the descriptive analysis, Pearson correlation and regression Data Dashboard. The main results of the study indicated that some mechanisms of Corporate Governance do not have significant influences on capital structure levels of Brazilian companies to open ICON capital. On the other hand, the shareholding and remuneration of directors is shown as the variables that impact significantly on the capital structure of companies. In addition, the size and the degree of liquidity also impacted the capital structure. It follows from the empirical results, the attributes of Corporate Governance, in part, explain the business financing behavior of the BM&FBovespa consumption (ICON).Keywords: Corporate Governance; Capital Structure; BM&FBovespa Consumption (ICON). El gobierno corporativo juega un papel importante en las organizaciones, ya que sus prácticas pueden ser cruciales para la estructura de capital de las empresas y de destino de interés para los empresarios. Este estudio tuvo como objetivo investigar los atributos de gobierno corporativo afecta a la estructura de capital de las empresas brasileñas que pertenecen al consumo de BM&FBovespa (ICON). Se realizó una investigación descriptiva, cuantitativa y documental. La población del estudio comprendió 41 empresas pertenecientes al consumo de BM&FBovespa (ICON) y la muestra se compone de 22 organizaciones. Los datos son del periodo de 2010 a 2013 para el análisis de datos utilizado el análisis descriptivo, correlación de Pearson y la regresión del tablero de instrumentos de datos. Los principales resultados del estudio indicaron que algunos de los mecanismos de gobierno corporativo no tienen influencias significativas en los niveles de la estructura de capital de las empresas brasileñas de capital para abrir ICON. Por otro lado, la participación y la remuneración de los consejeros se muestra como las variables que impactan significativamente en la estructura de capital de las empresas. Además, el tamaño y el grado de liquidez también afectaron la estructura de capital. Se desprende de los resultados empíricos, los atributos de Gobierno Corporativo, en parte, explican el comportamiento de financiación de las empresas del consumo de BM&FBovespa (ICON).Palabras clave: Gobierno Corporativo; Estructura de capital; BM&FBovespa consumo (ICON). A Governança Corporativa exerce papel importante nas organizações, visto que suas práticas podem ser determinantes para a estrutura de capital das empresas e alvo de interesse dos empresários. Este estudo objetivou investigar se os atributos de Governança Corporativa afetam a estrutura de capital das empresas brasileiras pertencentes ao Índice BM&FBovespa de Consumo (ICON). Realizou-se uma pesquisa descritiva, quantitativa e documental. A população do estudo compreendeu 41 empresas pertencentes ao Índice BM&FBovespa de Consumo (ICON) e a amostra foi composta de 22 organizações. Os dados são do período de 2010 a 2013. Para a análise dos dados utilizou-se a análise descritiva, correlação de Pearson e a regressão de Dados em Painel. Os principais resultados do estudo indicaram que alguns mecanismos de Governança Corporativa não apresentam influências significativas sobre os níveis de estrutura de capital das empresas brasileiras de capital aberto do ICON. Por outro lado, a participação acionária e a remuneração dos diretores demonstraram-se como as variáveis que impactam de forma significativa na estrutura de capital das empresas. Além disso, o tamanho e o grau de liquidez também impactaram na estrutura de capital. Conclui-se a partir dos resultados empíricos, que os atributos de Governança Corporativa, em parte, explicam o comportamento de financiamento de empresas do Índice BM&FBovespa de Consumo (ICON).Palavras-chave: Governança Corporativa; Estrutura de Capital; Índice BM&FBovespa de Consumo (ICON). Portal de Periódicos Eletrônicos da UFRN 2017-01-02 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion application/pdf https://periodicos.ufrn.br/ambiente/article/view/8571 REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte; Vol. 9 No. 1 (2017): Jan./Jun.; 204-222 REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte; Vol. 9 Núm. 1 (2017): Jan./Jun.; 204-222 REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte - ISSN 2176-9036; v. 9 n. 1 (2017): Jan./Jun.; 204-222 2176-9036 10.21680/2176-9036.2017v9n1 por https://periodicos.ufrn.br/ambiente/article/view/8571/7870 Copyright (c) 2017 REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte - ISSN 2176-9036 |