A influência das Golden Shares no desempenho da empresa

Detalhes bibliográficos
Ano de defesa: 2022
Autor(a) principal: Mainardi, Rodrigo Almeida lattes
Orientador(a): Sonza, Igor Bernardi lattes
Banca de defesa: Almeida, José Elias Feres de, Nakamura, Wilson Toshiro
Tipo de documento: Dissertação
Tipo de acesso: Acesso aberto
Idioma: por
Instituição de defesa: Universidade Federal de Santa Maria
Centro de Ciências Sociais e Humanas
Programa de Pós-Graduação: Programa de Pós-Graduação em Ciências Contábeis
Departamento: Controladoria, Governança e Sustentabilidade
País: Brasil
Palavras-chave em Português:
Privatização
Governança corporativa
Desempenho
Palavras-chave em Inglês:
Golden Shares
Privatization
Corporate governance
Performance
Área do conhecimento CNPq:
CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::CIENCIAS CONTABEIS
Link de acesso: http://repositorio.ufsm.br/handle/1/29884
Resumo: The relationship between the ownership structure and the performance of companies has been a subject of interest among academics, mainly to understand the efficiency of the golden share that makes government ownership a control mechanism. This study aims to analyze the influence of golden shares on the accounting performance of public traded companies that underwent privatization at a global level. To achieve this objective, the dynamic difference-in-differences (DID) method was used with Kernel Propensity Score Match (PSM) and a multilevel analysis. As a result, privatized companies that have golden shares are experienced more positive impact on market performance than companies privatized without it.
id UFSM_e19b33fa2d3a2b29efff0a4b9b9ac7e3
oai_identifier_str oai:repositorio.ufsm.br:1/29884
network_acronym_str UFSM
network_name_str Biblioteca Digital de Teses e Dissertações do UFSM
repository_id_str
spelling 2023-08-09T11:25:21Z2023-08-09T11:25:21Z2022-09-30http://repositorio.ufsm.br/handle/1/29884The relationship between the ownership structure and the performance of companies has been a subject of interest among academics, mainly to understand the efficiency of the golden share that makes government ownership a control mechanism. This study aims to analyze the influence of golden shares on the accounting performance of public traded companies that underwent privatization at a global level. To achieve this objective, the dynamic difference-in-differences (DID) method was used with Kernel Propensity Score Match (PSM) and a multilevel analysis. As a result, privatized companies that have golden shares are experienced more positive impact on market performance than companies privatized without it.A relação entre a estrutura de propriedade e o desempenho das empresas tem sido assunto de interesse entre acadêmicos, principalmente para entender a eficiência da Golden Share que torna a propriedade do governo como mecanismo de controle. Este estudo tem como objetivo analisar a influência das Golden Shares no desempenho contábil e de mercado das empresas de capital aberto, que sofreram processo de privatização em âmbito global. Para alcançar este objetivo foi utilizado o método diferença-em-diferenças (DID) dinâmico com o Kernel Propensity Score Match (PSM). Como resultado, foi possível encontrar que as empresas privatizadas que possuem Golden Shares sofrem maior impacto positivo no desempenho de mercado do que as empresas privatizadas sem essa cláusula.porUniversidade Federal de Santa MariaCentro de Ciências Sociais e HumanasPrograma de Pós-Graduação em Ciências ContábeisUFSMBrasilControladoria, Governança e SustentabilidadeAttribution-NonCommercial-NoDerivatives 4.0 Internationalhttp://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccessPrivatizaçãoGovernança corporativaDesempenhoGolden SharesPrivatizationCorporate governancePerformanceCNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::CIENCIAS CONTABEISA influência das Golden Shares no desempenho da empresaThe influence of Golden Shares on company performanceinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisSonza, Igor Bernardihttp://lattes.cnpq.br/0001554374469356Almeida, José Elias Feres deNakamura, Wilson Toshirohttp://lattes.cnpq.br/2000714995701371Mainardi, Rodrigo Almeida6002004000016006006006006001c0ef05b-2862-4582-9f9d-e14724de30b37af5ec16-496f-4368-9e9b-a3f8cb2b408e1df20b81-ca7e-439f-804a-f099ae45c40df55202df-a36f-424a-b3c1-8ca68a5c7e4breponame:Biblioteca Digital de Teses e Dissertações do UFSMinstname:Universidade Federal de Santa Maria (UFSM)instacron:UFSMORIGINALDIS_PPGCC_2023_MAINARDI_RODRIGO.pdfDIS_PPGCC_2023_MAINARDI_RODRIGO.pdfDissertaçãoapplication/pdf906830http://repositorio.ufsm.br/bitstream/1/29884/1/DIS_PPGCC_2023_MAINARDI_RODRIGO.pdfb0149eb2403d3a13963f09c47395480dMD51CC-LICENSElicense_rdflicense_rdfapplication/rdf+xml; charset=utf-8805http://repositorio.ufsm.br/bitstream/1/29884/2/license_rdf4460e5956bc1d1639be9ae6146a50347MD52LICENSElicense.txtlicense.txttext/plain; charset=utf-81956http://repositorio.ufsm.br/bitstream/1/29884/3/license.txt2f0571ecee68693bd5cd3f17c1e075dfMD531/298842023-08-09 08:25:21.321oai:repositorio.ufsm.br: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 Digital de Teses e Dissertaçõeshttps://repositorio.ufsm.br/ONGhttps://repositorio.ufsm.br/oai/requestatendimento.sib@ufsm.br||tedebc@gmail.comopendoar:2023-08-09T11:25:21Biblioteca Digital de Teses e Dissertações do UFSM - Universidade Federal de Santa Maria (UFSM)false
dc.title.por.fl_str_mv A influência das Golden Shares no desempenho da empresa
dc.title.alternative.eng.fl_str_mv The influence of Golden Shares on company performance
title A influência das Golden Shares no desempenho da empresa
spellingShingle A influência das Golden Shares no desempenho da empresa
Mainardi, Rodrigo Almeida
Privatização
Governança corporativa
Desempenho
Golden Shares
Privatization
Corporate governance
Performance
CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::CIENCIAS CONTABEIS
title_short A influência das Golden Shares no desempenho da empresa
title_full A influência das Golden Shares no desempenho da empresa
title_fullStr A influência das Golden Shares no desempenho da empresa
title_full_unstemmed A influência das Golden Shares no desempenho da empresa
title_sort A influência das Golden Shares no desempenho da empresa
author Mainardi, Rodrigo Almeida
author_facet Mainardi, Rodrigo Almeida
author_role author
dc.contributor.advisor1.fl_str_mv Sonza, Igor Bernardi
dc.contributor.advisor1Lattes.fl_str_mv http://lattes.cnpq.br/0001554374469356
dc.contributor.referee1.fl_str_mv Almeida, José Elias Feres de
dc.contributor.referee2.fl_str_mv Nakamura, Wilson Toshiro
dc.contributor.authorLattes.fl_str_mv http://lattes.cnpq.br/2000714995701371
dc.contributor.author.fl_str_mv Mainardi, Rodrigo Almeida
contributor_str_mv Sonza, Igor Bernardi
Almeida, José Elias Feres de
Nakamura, Wilson Toshiro
dc.subject.por.fl_str_mv Privatização
Governança corporativa
Desempenho
topic Privatização
Governança corporativa
Desempenho
Golden Shares
Privatization
Corporate governance
Performance
CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::CIENCIAS CONTABEIS
dc.subject.eng.fl_str_mv Golden Shares
Privatization
Corporate governance
Performance
dc.subject.cnpq.fl_str_mv CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::CIENCIAS CONTABEIS
description The relationship between the ownership structure and the performance of companies has been a subject of interest among academics, mainly to understand the efficiency of the golden share that makes government ownership a control mechanism. This study aims to analyze the influence of golden shares on the accounting performance of public traded companies that underwent privatization at a global level. To achieve this objective, the dynamic difference-in-differences (DID) method was used with Kernel Propensity Score Match (PSM) and a multilevel analysis. As a result, privatized companies that have golden shares are experienced more positive impact on market performance than companies privatized without it.
publishDate 2022
dc.date.issued.fl_str_mv 2022-09-30
dc.date.accessioned.fl_str_mv 2023-08-09T11:25:21Z
dc.date.available.fl_str_mv 2023-08-09T11:25:21Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://repositorio.ufsm.br/handle/1/29884
url http://repositorio.ufsm.br/handle/1/29884
dc.language.iso.fl_str_mv por
language por
dc.relation.cnpq.fl_str_mv 600200400001
dc.relation.confidence.fl_str_mv 600
600
600
600
600
dc.relation.authority.fl_str_mv 1c0ef05b-2862-4582-9f9d-e14724de30b3
7af5ec16-496f-4368-9e9b-a3f8cb2b408e
1df20b81-ca7e-439f-804a-f099ae45c40d
f55202df-a36f-424a-b3c1-8ca68a5c7e4b
dc.rights.driver.fl_str_mv Attribution-NonCommercial-NoDerivatives 4.0 International
http://creativecommons.org/licenses/by-nc-nd/4.0/
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Attribution-NonCommercial-NoDerivatives 4.0 International
http://creativecommons.org/licenses/by-nc-nd/4.0/
eu_rights_str_mv openAccess
dc.publisher.none.fl_str_mv Universidade Federal de Santa Maria
Centro de Ciências Sociais e Humanas
dc.publisher.program.fl_str_mv Programa de Pós-Graduação em Ciências Contábeis
dc.publisher.initials.fl_str_mv UFSM
dc.publisher.country.fl_str_mv Brasil
dc.publisher.department.fl_str_mv Controladoria, Governança e Sustentabilidade
publisher.none.fl_str_mv Universidade Federal de Santa Maria
Centro de Ciências Sociais e Humanas
dc.source.none.fl_str_mv reponame:Biblioteca Digital de Teses e Dissertações do UFSM
instname:Universidade Federal de Santa Maria (UFSM)
instacron:UFSM
instname_str Universidade Federal de Santa Maria (UFSM)
instacron_str UFSM
institution UFSM
reponame_str Biblioteca Digital de Teses e Dissertações do UFSM
collection Biblioteca Digital de Teses e Dissertações do UFSM
bitstream.url.fl_str_mv http://repositorio.ufsm.br/bitstream/1/29884/1/DIS_PPGCC_2023_MAINARDI_RODRIGO.pdf
http://repositorio.ufsm.br/bitstream/1/29884/2/license_rdf
http://repositorio.ufsm.br/bitstream/1/29884/3/license.txt
bitstream.checksum.fl_str_mv b0149eb2403d3a13963f09c47395480d
4460e5956bc1d1639be9ae6146a50347
2f0571ecee68693bd5cd3f17c1e075df
bitstream.checksumAlgorithm.fl_str_mv MD5
MD5
MD5
repository.name.fl_str_mv Biblioteca Digital de Teses e Dissertações do UFSM - Universidade Federal de Santa Maria (UFSM)
repository.mail.fl_str_mv atendimento.sib@ufsm.br||tedebc@gmail.com
_version_ 1793240133196054528

Registros relacionados