The Tink’s Saga? is It the Time for the Corporate Governance?
DOI:
10.14211/regepe.v10i1.1850Keywords:
Multifamily company, Interest conflicts, Information asymmetry, Corporate governance, Teaching CasesAbstract
Objective: To promote a discussion on the benefits and challenges of the process of implementing mechanisms and good corporate governance practices in a multifamily company. Method: the case was based on real problems of a privately held multifamily organization and fictitious narratives were developed for its construction. Originality/relevance: Multifamily companies potentialize the existence of conflicts between the main ones due to the plurality of partners regarding corporate management and control. In this teaching case, some of these dilemmas were presented and how corporate governance could avoid, mitigate or remedy them in order to find adequate alignment between family members. Results: Conflicts of interest and information asymmetries indicated the need for new solutions for business continuity. Among these solutions, there was the possibility of implementing mechanisms and good corporate governance practices. Theoretical/methodological contributions: It is expected that the student develops an understanding of the need to consider inherent gains and losses in decision making and the particularities of the organization, such as shareholder composition, maturity of the organization and protection of capital and property.
Downloads
References
Aguilera, R. V., & Cuervo-Cazurra, A. (2004). Codes of good governance worldwide: what is the trigger? Organization Studies, 25, 415-443. https://doi.org/10.1177%2F0170840604040669
Aguilera, R. V., Desender, K., Bednar, M. K., & Lee, J. H. (2015). Connecting the Dots – bringing external corporate governance into the corporate governance puzzle. The Academy of Management Annals, 9(1), 483-573. https://doi.org/10.5465/19416520.2015.1024503
Azoury, N., & Bouri, E. (2015). Principal-principal conflicts in Lebanese unlisted family firms. Journal of Management & Governance, 19(2), 461-493. https://doi.org/10.1007/s10997-014-9287-8
Bertucci, J. L. O., Campos, E. Á. S., Pimentel, T. D., & Pereira, R. D. (2009). Mecanismos de Governança e Processos de Sucessão: um estudo sobre a influência dos elementos da governança corporativa na orientação do processo sucessório em uma empresa familiar. Revista Brasileira de Gestão de Negócios, 11(31), 152-167. https://doi.org/10.7819/rbgn.v11i31.524
Bornholdt, W. (2005). Governança na empresa familiar: implementação e prática. Porto Alegre: Bookman.
Denis, D. K., & McConnell, J. J. (2003). International corporate governance. Journal of financial and quantitative analysis, 38(1), 1-36. https://doi.org/10.2307/4126762
Eisenhardt, K. M. (1989). Agency theory: An assessment and review. Academy of Management Review, 14(1), 57-74. https://doi.org/10.5465/amr.1989.4279003
Fama, E. F., & Jensen, M. C. (1983). Separation of ownership and control. Journal of Law and Economics, 26, 301-325. https://www.journals.uchicago.edu/doi/abs/10.1086/467037
IBGC – Instituto Brasileiro de Governança Corporativa. (2014). Caderno de Boas Práticas de Governança Corporativa Para Empresas de Capital Fechado: um guia para sociedades limitadas e sociedades por ações fechadas. São Paulo: IBGC. https://conhecimento.ibgc.org.br/Paginas/Publicacao.aspx?PubId=21047
IBGC – Instituto Brasileiro de Governança Corporativa. (2015). Código das melhores práticas de governança corporativa (5. ed.). São Paulo: IBGC. https://conhecimento.ibgc.org.br/Paginas/Publicacao.aspx?PubId=21138
IBGC – Instituto Brasileiro de Governança Corporativa. (2016). Governança da família empresária: conceitos básicos, desafios e recomendações. São Paulo: IBGC. https://dmgsa.com.br/wp-content/uploads/2016/11/GovernancadaFamiliaEmpresaria_IBGC.pdf
Jensen, M. C., & Meckling, W. H. (2008). Teoria da firma: comportamento dos administradores, custos de agência e estrutura de propriedade. Revista de Administração de Empresas, 48(2), 87-125. Disponível em: https://bibliotecadigital.fgv.br/ojs/index.php/rae/article/view/36604. Acesso em: 9 nov. 2021.
Jiang, Y., & Peng, M. W. (2011). Principal-principal conflicts during crisis. Asia Pacific Journal of Management, 28(4), 683-695. https://doi.org/10.1007/s10490-009-9186-8
Michiels, A., Voordeckers, W., Lybaert, N., & Steijvers, T. (2015). Dividends and family governance practices in private family firms. Small Business Economics, 44(2), 299-314. https://doi.org/10.1007/s11187-014-9594-0
Moraes Filho, A. C. T., Barone, F. M., & de Oliveira Pinto, M. (2011). A produção científica em empresas familiares: um enfoque conceitual. Revista de Administração Pública, 45(6), 1971-1991. https://doi.org/10.1590/S0034-76122011000600016
Saam, N. J. (2007). Asymmetry in information versus asymmetry in power: Implicit assumptions of agency theory? The Journal of Socio-Economics, 36(6), 825-840. https://doi.org/10.1016/j.socec.2007.01.018
Saito, R., & Silveira, A. D. M. (2008). Governança corporativa: custos de agência e estrutura de propriedade. Revista de Administração de Empresas, 48(2), 79-86. https://doi.org/10.1590/S0034-75902008000200007
Walsh, J. P., & Seward, J. K. (1990). On the efficiency of internal and external corporate control mechanisms. Academy of Management Review, 15(3), 421-458. https://doi.org/10.5465/amr.1990.4308826
Young, M. N., Peng, M. W., Ahlstrom, D., Bruton, G. D., & Jiang, Y. (2008). Corporate governance in emerging economies: A review of the principal-principal perspective. Journal of Management Studies, 45(1), 196-220. https://doi.org/10.1111/j.1467-6486.2007.00752.x
Published
Métricas
Visualizações do artigo: 514 PDF (Português (Brasil)) downloads: 96 Notas de Ensino (Português (Brasil)) downloads: 60 PDF downloads: 84 Teaching Notes downloads: 36
How to Cite
Issue
Section
License
Copyright (c) 2020 Eleandra Maria Prigol Meneghini, Ana Paula Pereira dos Passos, Jeferson Lana
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors who publish in this journal agree to the following terms:
-
The author(s) authorize the publication of the text in the journal;
-
The journal is not responsible for the opinions, ideas, and concepts expressed in the texts, as they are the sole responsibility of their authors;
-
Authors retain copyright and grant the journal the right of first publication, with the work published under the CC BY 4.0 License, which allows sharing the work with acknowledgment of authorship and initial publication in this journal;
-
Authors are allowed and encouraged to post their work (Submitted version, Accepted version [Manuscript accepted by the author], or Published version [Record version]) online, for example in institutional repositories or preprints, as it can lead to productive exchanges as well as earlier and greater citation of published work. REGEPE requires that authors indicate/link the published article with DOI. See the Effect of Open Access.