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Advisor(s)
Abstract(s)
A concretização do presente trabalho visou estudar em que medida o governo das
sociedades (caracterizado por quatro variáveis) influencia o desempenho (caracterizado,
por sua vez, também por quatro variáveis) dessas sociedades.
Visando a sistematização dos principais contributos teóricos sobre a temática do
governo das sociedades, procedeu-se a revisão bibliográfica que contribuiu para a
identificação de variáveis que caracterizem o governo das sociedades (variáveis
independentes) e das teorias sobre a sua relação com variáveis de desempenho
(variáveis dependentes, também identificadas nesta fase), o que permitiu a formulação
de hipóteses.
Em termos empíricos, o estudo incide sobre o universo das sociedades com acções
transaccionadas no mercado de cotações oficiais da Euronext Lisboa (mercado de
valores mobiliários nacional). Sobre estas sociedades realizou-se caracterização
detalhada das variáveis (com base em informação proveniente dos "relatório e contas" e
"relatório sobre o governo das sociedades" referentes ao exercício de 2003) e, através de
recurso a software e técnicas estatísticas adequados, testou-se a existência de relação
entre as variáveis independentes e dependentes consideradas, conforme as hipóteses
formuladas.
Apesar de não ter sido possível comprovar integralmente qualquer das hipóteses
formuladas, identificaram-se relações estatísticas significativas entre algumas das
variáveis independentes e dependentes o que, face ao objectivo do trabalho, comprovou
a influência do governo das sociedades no seu desempenho.
This work aimed to study in what measure corporate governance (described by four variables) influences corporate performance (also described by four variables). Aiming the systematisation of the most important theories concerning corporate governance, a bibliographic review has been made which also allowed the identification of the corporate govemance variables (independent variables) and the theories conceming their relation with the performance variables (dependent variables, also identified in this stage), what lead to the hypothesis formulation. In empirical terms, this study deals with the public traded companies in the Portuguese stock market (Euronext Lisbon). Conceming these companies there was a detailed description of the variables (based on the information available in their 2003 official "reports and accounts" and "corporate governance reports") and, resorting to adequate software and statistical techniques, was tested the existence of relations between independent and dependent variables, as stated in the hypotheses formulation. Although it hasn't been possible to fully accept any of the stated hypotheses, it has been possible to clearly identify statistical relations between some of the independent and dependent variables and, according to this work purpose, validating the relation between corporate governance and performance.
This work aimed to study in what measure corporate governance (described by four variables) influences corporate performance (also described by four variables). Aiming the systematisation of the most important theories concerning corporate governance, a bibliographic review has been made which also allowed the identification of the corporate govemance variables (independent variables) and the theories conceming their relation with the performance variables (dependent variables, also identified in this stage), what lead to the hypothesis formulation. In empirical terms, this study deals with the public traded companies in the Portuguese stock market (Euronext Lisbon). Conceming these companies there was a detailed description of the variables (based on the information available in their 2003 official "reports and accounts" and "corporate governance reports") and, resorting to adequate software and statistical techniques, was tested the existence of relations between independent and dependent variables, as stated in the hypotheses formulation. Although it hasn't been possible to fully accept any of the stated hypotheses, it has been possible to clearly identify statistical relations between some of the independent and dependent variables and, according to this work purpose, validating the relation between corporate governance and performance.
Description
Mestrado em Gestão/MBA
Keywords
governo das sociedades desempenho Corporate governance corporate performance
Pedagogical Context
Citation
Rodrigues, Ricardo Marino Francisco (2004). “O governo das sociedades (corporate governance) em Portugal : análise das sociedades cotadas em bolsa”. Dissertação de Mestrado. Universidade Técnica de Lisboa. Instituto Superior de Economia e Gestão
Publisher
Instituto Superior de Economia e Gestão