O modelo norte-americano de governança corporativa: gênese, instrumentos e conseqüencias
- Authors
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André Luís Forti Scherer
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- Keywords:
- Mercados de capitais, Instituições financeiras
- Abstract
- This paper deals with the evolution of the North-American model of corporate finance and its expansion after the 1980’s. I examine the historical and theoretical genesis of this model, which leads companies to maximize the value for the stockholder, in a context of deregulation of the capital markets. In the sequence, I point out the instruments that impel companies to accept this model as well as its consequences for corporation’s strategies and decisions. The last section of the paper evaluates the deviations caused by the expansion of this model. Such deviations led to the possibility of accounting frauds and shocks in the North- -American Stock Exchange.
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- Issue
- Vol. 24 No. 2 (2003)
- Section
- Artigos
- License
- A remessa dos artigos à revista implica a cessão dos direitos autorais à FEE.