Pedro Henrique de Carvalho Lemos
Master's – The Role of Institutes of Corporate Governance in the Development of Good Governance Practices: A Comparison between Portugal and Brazil
Advisor: Prof. Dr. Claudio Felisoni de Angelo
Comission: Profs. Drs. Marcelo Felippe Figueira Junior, Nuno Manoel Martins Dias Fouto and Jorge Bento Ribeiro Barbosa Farinha
Class: 217, FEA-5
This study deals with the role that the corporate governance institutes of Brazil and Portugal have played since their inception in the development of good governance practices in their respective countries and the comparison between them.
This is a case study, descriptive qualitative research that sought, through interviews, documentary analysis, and the researcher direct observation a deep understanding of these institutes’ performance, comparing their performance and orientation. The use of content analysis software to analyze the interviews and institutes’ documentation allowed to identify similarities and differences between them.
Initially, we sought to focus corporate governance in the literature, verifying that the Firm Theory (Coase, 1937) and the Agency Theory (Jensen & Meckling, 1976) are the bases that originated this research area, which has been receiving increasing researchers attention. A bibliometric analysis found the literature gap regarding institutes of governance and the opportunity of the researcher, who attended part of his master's degree in Portugal, which was crucial in choosing the case study objects: Instituto Brasileiro de Governança Corporativa (Brazilian Institute of Corporate Governance -IBGC) , and Instituto Portugês de Corporate Governance (Portuguese Institute of Corporate Governance - IPCG).
Although the convenience sample is a study limitation, that does not allow generalization, it was possible to determine each institute macro-orientation: Institutional, in the case of Portuguese institute; and Educational, in the case of Brazilian institute.
As a study result, there is a recommendation to the institutes to seek collaboration among themselves by correcting the perceived biases in the performance of each one of them.
It is understood that the dissemination of corporate governance for small and medium-sized family businesses is necessary and that the Brazilian institute has been achieving this goal, unlike the Portuguese one, which needs, besides its institutional focus, also to seek the educational, which could be developed with the collaboration of both.
The study also suggests some research opportunities, which, if carried out, would allow additional contribution to management theory.
*Abstract provided by the author