EFEITOS DOS MECANISMOS DE GOVERNANÇA CORPORATIVA NA DIVERSIFICAÇÃO INTERNACIONAL DE EMPRESAS MULTINACIONAIS EMERGENTES

Flávio Sérgio Linhares, Cristina Lelis Leal Calegario, Eduardo Gomes Carvalho

Resumo


Com base em uma amostra de 68 empresas multinacionais brasileiras listadas na [B]3 no período de 2009 a 2018, este estudo examinou se os mecanismos de governança corporativa como, formação do conselho de administração, dualidade do CEO e formação educacional do gestor são fatores determinantes para o processo de diversificação internacional das empresas. Foi utilizado a técnica de Modelagem de Equações Estruturais (SEM – Structural Equation Modelling), por entender que este método é adequado para estudos complexos que envolvem múltiplos fatores. Os resultados foram consistentes e confirmaram todas as hipóteses de pesquisa sob a luz da Teoria da Agência. Os resultados demonstraram que características institucionais específicas no contexto nacional de empresas emergentes podem ser mecanismos de controle e monitoramento da gestão.

Palavras-chave


Internacionalização; Governança Corporativa; Performance; Teoria da Agência

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