| Name: | Description: | Size: | Format: | |
|---|---|---|---|---|
| Dissertação de Mestrado | 689.4 KB | Adobe PDF |
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Abstract(s)
A concretização do presente trabalho teve por objetivo estudar se existe uma relação entre
governação das sociedades e o desempenho da sociedade.
Através de vários contributos teóricos e tendo por base inúmeros autores que escrevem sobre
a matéria em questão, procedeu-se à revisão da literatura, onde foram abordados os conceitos,
origens, marcos históricos e evolução em Portugal do tema governação das sociedades.
Verificou - se o que vários autores escreveram sobre o relacionamento da governação das
socidades e o desempenho da orgnização.
Em termos de estudo, a amostra utilizada, foram as sociedades integrantes do PSI20, foram
analisados os relatórios de gestão (que icluiam as demonstrações financeiras e relatórios de
governo das sociedades) das sociedades integrantes da amostra, os setores de actividade
onde as sociedades atuam, e os valores médios das demonstrações financeirase indicadores
de sintese de cada sector de actividade. Por fim foram ainda verificados os relatórios anuais da
CMVM sobre governo das sociedades cotadas para extrair os dados que necessitavamos para
validar as asserções construidas.
O horizonte temporal do estudo foi de 6 anos nomeadamente de 2007 a 2012 .
O estudo pretendia verificar as asserções que construimos como modelo de análise seriam
verdadeiras, e assim demonstrar que existia uma relação entre governação das sociedades e
o desempenho alcançado pela sociedade. Esta relação foi validada em 40%.
Sugerimos que no futuro se deveria tentar efectuar este estudo, recorrendo a métricas como o
EVA ou Resultado Residual, num horizonte temporal diferente, pois os valores alcançados
devem-se à grave crise financeira que se fazia sentir em Portugal no periodo em análise.
The objective of this thesis work is to verify the existence of a relantionship between Corporate Governance and Organizational Performance. By means of several theoretical contributions and grounded on countless authors, that have writen about the above mentioned subject, we have review their literature, their individual approach to this theme, their concepts, origins, historical landmarks and also Portugal’s evolution related to Corporte Governance and it’s effect on Organizational Performance. The sample used on this thesis was based on PSI20 Corporate entities, supported not only by the analysis of the Financial, Accounting and Management reports but also by the analysis of the business & industry sectors these entities are included in. Furthermore we have checked the CMVM annual reports for Corporate Governance in order to validate the constructed assertions. The time period for this thesis was of 6 years starting in 2007 up to 2012. This thesis work objective was to validate the model of analysis about the existing relationship between Corporate Governance and Organizational Performance. The constructed assertions were confirmed as to 40%. We propose that a similar study should be done in the future, using different metrics, for example EVA or as Residual Result, on a different period of time, as the obtained final results have been directly affected by the Portuguese financial crises occurring during these years.
The objective of this thesis work is to verify the existence of a relantionship between Corporate Governance and Organizational Performance. By means of several theoretical contributions and grounded on countless authors, that have writen about the above mentioned subject, we have review their literature, their individual approach to this theme, their concepts, origins, historical landmarks and also Portugal’s evolution related to Corporte Governance and it’s effect on Organizational Performance. The sample used on this thesis was based on PSI20 Corporate entities, supported not only by the analysis of the Financial, Accounting and Management reports but also by the analysis of the business & industry sectors these entities are included in. Furthermore we have checked the CMVM annual reports for Corporate Governance in order to validate the constructed assertions. The time period for this thesis was of 6 years starting in 2007 up to 2012. This thesis work objective was to validate the model of analysis about the existing relationship between Corporate Governance and Organizational Performance. The constructed assertions were confirmed as to 40%. We propose that a similar study should be done in the future, using different metrics, for example EVA or as Residual Result, on a different period of time, as the obtained final results have been directly affected by the Portuguese financial crises occurring during these years.
Description
Keywords
Governação das sociedades Desempenho das sociedades Corporate governance Organizational performance