O nível de governança corporativa e a evidenciação contábil como elementos contributivos do desempenho e da competitividade das companhias de capital aberto listadas na bolsa de valores B3

Abstract

Research in the Corporate Governance area seeks to prove that companies with good governance practices tend to have better performance and/or competitiveness. However, in fact, if there is a positive relation in this perspective, the results have not yet come to a consistent conclusion. Likewise, in the capital market, information is a necessary input for investors to be able to evaluate their investments, being a determining factor for credibility and transparency in the decision-making process. In view of this, companies can differentiate themselves by adopting better accounting information disclosure practices, since several studies have shown that companies with better disclosure practices have better market valuation and better accounting financial performance. In this sense, this study aimed to analyze whether the mechanisms of Corporate Governance and Accounting Disclosure influence the performance and competitiveness of publicly traded companies listed on B3. For such evidence, thirty-six companies belonging to the Commercial and Industrial branches of the Brazilian stock exchange B3 were analyzed, which were listed simultaneously in the IBRX100 and in the IGC in 2020. In terms of results, the study partially supported the indication of superior economic and financial performance of companies with good Corporate Governance and Disclosure practices in relation to the others. Although the results do not present a unanimous conclusion, they converge with other studies carried out in Brazil and will leave a range for possible future research. [resumo fornecido pelo autor]