Análise longitudinal (2012-2021) da diversidade na alta administração das empresas de capital aberto do Brasil
Palavras-chave:
Governança; Alta administração; Diversidade educacional; Diversidade etária; Diversidade de gênero.
Resumo
Objetivo: analisar as características dos membros da alta administração de empresas listadas na B3 (Brasil, Bolsa, Balcão) e suas modificações ao longo do período de 2012 a 2021 sob uma perspectiva da diversidade.
Método: Utilizando-se os Formulários de Referência disponíveis no site da B3 de 2012 a 2021, obteve-se uma amostra de 555 entidades de capital aberto, representando 3.831 observações de empresa-ano e 58.679 observações de indivíduo-empresa-ano. Com base nisso, foram mapeadas as variáveis de diversidade da pesquisa: gênero, idade, formação e nível de titulação, que foram analisadas por meio de estatísticas descritivas, testes qui-quadrado, testes de médias e análise de correspondência múltipla.
Originalidade/Relevância: O foco exclusivo nas características de diversidade, o período de análise, o tamanho amostral e a análise ano a ano são diferenciais em relação à literatura prévia e elementos cruciais para a obtenção de novas e sólidas evidências acerca do comportamento da diversidade ao longo do tempo. A pesquisa torna-se ainda mais relevante ao encontrar resultados diferentes de estudos anteriores, particularmente no que tange ao gênero e titulação acadêmica.
Resultados: Houve modificações significativas na composição e no perfil dos membros da alta administração das companhias abertas analisadas, sugerindo aumento das métricas de diversidade. Especificamente, houve aumento da participação feminina, da idade média e de membros com pós-graduação. Ademais, houve maior pluralidade de formação acadêmica dos membros da alta administração.
Contribuições teóricas/metodológicas/práticas: Contribui-se a uma discussão social ao analisar aspectos distintos da diversidade de forma a demonstrar a importância de um pensamento mais diverso nas organizações em um país emergente. As novas evidências levam a conclusões distintas das de estudos prévios. Em geral, o trabalho mostra que a diversidade está aumentando no alto escalão, mas muitos aspectos ainda merecem atenção e séria consideração para que aconteçam efetivos avanços da diversidade nas organizações.
Downloads
Não há dados estatísticos.
Referências
Abbadi, S., Hijazi, Q., & Al-Rahahleh, A. (2016). Corporate Governance Quality and Earnings Management: Evidence from Jordan. Australasian Accounting, Business and Finance Journal, 10(2), 54–75. https://doi.org/10.14453/aabfj.v10i2.4
Adams, R. B., & Ferreira, D. (2009). Women in the boardroom and their impact on governance and performance☆. Journal of Financial Economics, 94(2), 291–309. https://doi.org/10.1016/j.jfineco.2008.10.007
Afeltra, G., Alerasoul, A., & Usman, B. (2022). Board of Directors and Corporate Social Reporting: A Systematic Literature Network Analysis. Accounting in Europe, 19(1), 48–77. https://doi.org/10.1080/17449480.2021.1979609
Agyemang-Mintah, P., & Schadewitz, H. (2019). Gender diversity and firm value: evidence from UK financial institutions. International Journal of Accounting & Information Management, 27(1), 2–26. https://doi.org/10.1108/IJAIM-06-2017-0073
Almeida, T. A., Morais, C. R. F. de, & Coelho, A. C. (2020). Gender diversity, governance and dividend policy in Brazil. Revista de Gestao, 27(2), 189–205. https://doi.org/10.1108/REGE-03-2019-0041
Al-Musali, M. A. K. M., & Ku Ismail, K. N. I. (2015). Board diversity and intellectual capital performance. Accounting Research Journal, 28(3), 268–283. https://doi.org/10.1108/ARJ-01-2014-0006
Al-Shaer, H., Salama, A., & Toms, S. (2017). Audit committees and financial reporting quality. Journal of Applied Accounting Research, 18(1), 2–21. https://doi.org/10.1108/JAAR-10-2014-0114
Al-Shaer, H., & Zaman, M. (2016). Board gender diversity and sustainability reporting quality. Journal of Contemporary Accounting & Economics, 12(3), 210–222. https://doi.org/10.1016/j.jcae.2016.09.001
Amorelli, M., & García‐Sánchez, I. (2020). Critical mass of female directors, human capital, and stakeholder engagement by corporate social reporting. Corporate Social Responsibility and Environmental Management, 27(1), 204–221. https://doi.org/10.1002/csr.1793
Anderson, R. C., Reeb, D. M., Upadhyay, A., & Zhao, W. (2011). The Economics of Director Heterogeneity. Financial Management, 40(1), 5–38. https://doi.org/10.1111/j.1755-053X.2010.01133.x
Anderson-Gough, F., Edgley, C., Robson, K., & Sharma, N. (2022). Organizational responses to multiple logics: Diversity, identity and the professional service firm. Accounting, Organizations and Society, xxxx, 101336. https://doi.org/10.1016/j.aos.2022.101336
Bantel, K. A., & Jackson, S. E. (1989). Top management and innovations in banking: Does the composition of the top team make a difference? Strategic Management Journal, 10(S1), 107–124. https://doi.org/https://doi.org/10.13106/jafeb.2021.vol8.no2.0933
Barak, M. E. M. (1999). Beyond Affirmative Action. Administration in Social Work, 23(3–4), 47–68. https://doi.org/10.1300/J147v23n03_04
Bear, S., Rahman, N., & Post, C. (2010). The Impact of Board Diversity and Gender Composition on Corporate Social Responsibility and Firm Reputation. Journal of Business Ethics, 97(2), 207–221. https://doi.org/10.1007/s10551-010-0505-2
Ben-Amar, W., Chang, M., & McIlkenny, P. (2017). Board Gender Diversity and Corporate Response to Sustainability Initiatives: Evidence from the Carbon Disclosure Project. Journal of Business Ethics, 142(2), 369–383. https://doi.org/10.1007/s10551-015-2759-1
Benston, G. J. (1982). Accounting and corporate accountability. Accounting, Organizations and Society, 7(2), 87–105. https://doi.org/10.1016/0361-3682(82)90014-9
Black, B. S., de Carvalho, A. G., & Sampaio, J. O. (2014). The evolution of corporate governance in Brazil. Emerging Markets Review, 20(12), 176–195. https://doi.org/10.1016/j.ememar.2014.04.004
Booth-Bell, D. (2018). Social capital as a new board diversity rationale for enhanced corporate governance. Corporate Governance (Bingley), 18(3), 425–439. https://doi.org/10.1108/CG-02-2017-0035
Borsatto Junior, J. L., Zabotti, E. D., & Araújo, M. da P. (2020). GÊNERO, ETNIA E RAÇA: DÉBITO OU CRÉDITO NA CONTABILIDADE? Contabilidade Vista & Revista, 31(2), 68–94. https://doi.org/10.22561/cvr.v31i2.4954
Bravo, F., & Reguera‐Alvarado, N. (2018). Sustainable development disclosure: Environmental, social, and governance reporting and gender diversity in the audit committee. Business Strategy and the Environment, 28(2), bse.2258. https://doi.org/10.1002/bse.2258
Brugni, T. V., Paulo Lopes Fávero, L., Cabús Klotzle, M., & Carlos Figueiredo Pinto, A. (2018). CONSELHOS DE ADMINISTRAÇÃO BRASILEIROS: UMA ANÁLISE À LUZ DOS FORMULÁRIOS DE REFERÊNCIA. Advances in Scientific and Applied Accounting, 11(1), 146–165. https://doi.org/10.14392/asaa.2018110108
Bueno, G., Marcon, R., Pruner-da-Silva, A. L., & Ribeirete, F. (2018). The role of the board in voluntary disclosure. Corporate Governance (Bingley), 18(5), 886–910. https://doi.org/10.1108/CG-09-2017-0205
Calza, F., Profumo, G., & Tutore, I. (2016). Corporate Ownership and Environmental Proactivity. Business Strategy and the Environment, 25(6), 369–389. https://doi.org/10.1002/bse.1873
Chan, M. C., Watson, J., & Woodliff, D. (2014). Corporate Governance Quality and CSR Disclosures. Journal of Business Ethics, 125(1), 59–73. https://doi.org/10.1007/s10551-013-1887-8
Cheung, K. Y., & Chung, C. V. (2022). Board characteristics and audit committee diversities: Evidence from Hong Kong. Corporate Ownership and Control, 19(4), 17–29. https://doi.org/10.22495/cocv19i4art2
Chin, M. K., Hambrick, D. C., & Treviño, L. K. (2013). Political Ideologies of CEOs: The Influence of Executives’ Values on Corporate Social Responsibility. Administrative Science Quarterly, 58(2), 197–232. https://doi.org/10.1177/0001839213486984
Correia, T. de S., & Lucena, W. G. L. (2020). Board of directors and code of business ethics of Brazilian companies. RAUSP Management Journal, 55(2), 263–279. https://doi.org/10.1108/RAUSP-12-2018-0147
Cuomo, F., Mallin, C., & Zattoni, A. (2016). Corporate Governance Codes: A Review and Research Agenda. Corporate Governance: An International Review, 24(3), 222–241. https://doi.org/10.1111/corg.12148
D’Aveni, R. A. (1990). Top Managerial Prestige and Organizational Bankruptcy. Organization Science, 1(2), 121–142. https://doi.org/10.1287/orsc.1.2.121
Ellis, C. (1994). Diverse approaches to managing diversity. Human Resource Management, 33(1), 79–109. https://doi.org/10.1002/hrm.3930330106
Esa, E., & Zahari, A. R. (2016). Corporate Social Responsibility: Ownership Structures, Board Characteristics & the Mediating Role of Board Compensation. Procedia Economics and Finance, 35(16), 35–43. https://doi.org/10.1016/s2212-5671(16)00007-1
Fernández-Temprano, M. A., & Tejerina-Gaite, F. (2020). Types of director, board diversity and firm performance. Corporate Governance: The International Journal of Business in Society, 20(2), 324–342. https://doi.org/10.1108/CG-03-2019-0096
Ferrero-Ferrero, I., Fernández-Izquierdo, M. Á., & Muñoz-Torres, M. J. (2015). Integrating Sustainability into Corporate Governance: An Empirical Study on Board Diversity. Corporate Social Responsibility and Environmental Management, 22(4), 193–207. https://doi.org/10.1002/csr.1333
Fia, M., & Sacconi, L. (2019). Justice and Corporate Governance: New Insights from Rawlsian Social Contract and Sen’s Capabilities Approach. Journal of Business Ethics, 160(4), 937–960. https://doi.org/10.1007/s10551-018-3939-6
Galia, F., & Zenou, E. (2012). Board composition and forms of innovation: Does diversity make a difference? European Journal of International Management, 6(6), 630–650. https://doi.org/10.1504/EJIM.2012.050425
García-Meca, E., García-Sánchez, I. M., & Martínez-Ferrero, J. (2015). Board diversity and its effects on bank performance: An international analysis. Journal of Banking and Finance, 53, 202–214. https://doi.org/10.1016/j.jbankfin.2014.12.002
Garofalo, E. M., & Garvin, H. M. (2020). The confusion between biological sex and gender and potential implications of misinterpretations. In Sex Estimation of the Human Skeleton. Elsevier Inc. https://doi.org/10.1016/b978-0-12-815767-1.00004-3
Gomes-Meija, L. R., Balkin, D., & Cardy, R. (2012). Manging Human Resources.
Griffin, D., Li, K., & Xu, T. (2021). Board gender diversity and corporate innovation: International evidence. Journal of Financial and Quantitative Analysis, 56(1), 123–154. https://doi.org/10.1017/S002210901900098X
Gul, F. A., Srinidhi, B., & Ng, A. C. (2011). Does board gender diversity improve the informativeness of stock prices? Journal of Accounting and Economics, 51(3), 314–338. https://doi.org/10.1016/j.jacceco.2011.01.005
Gupta, P. P., Lam, K. C. K., Sami, H., & Zhou, H. (2014). Board Diversity and Its Effect on Firm Financial and Non-Financial Performance. SSRN Electronic Journal, April 2015. https://doi.org/10.2139/ssrn.2531212
Gyapong, E., Monem, R. M., & Hu, F. (2016). Do Women and Ethnic Minority Directors Influence Firm Value? Evidence from Post-Apartheid South Africa. Journal of Business Finance & Accounting, 43(3–4), 370–413. https://doi.org/10.1111/jbfa.12175
Hambrick, D. C., & Mason, P. a. (1984). Upper Echelons: The Organization as a Reflection of Its Top Managers. The Academy of Management Review, 9(2), 193. https://doi.org/10.2307/258434
Hamid, M. A., Ting, I. W. K., & Kweh, Q. L. (2016). The Relationship between Corporate Governance and Expropriation of Minority Shareholders’ Interests. Procedia Economics and Finance, 35(16), 99–106. https://doi.org/10.1016/S2212-5671(16)00014-9
Hannan, M. T., & Freeman, J. (1977). The Population Ecology of Organizations. American Journal of Sociology, 82(5), 929–964. https://doi.org/10.1086/226424
Harjoto, M. A., & Jo, H. (2011). Corporate Governance and CSR Nexus. Journal of Business Ethics, 100(1), 45–67. https://doi.org/10.1007/s10551-011-0772-6
IBGC, I. B. de G. C. (2010). Caderno de Boas Práticas para Reuniões do Conselho de Administração. 46 p.
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305–360. https://doi.org/10.1016/0304-405X(76)90026-X
Karim, K. E., Li, J., Lin, K. J., & Robin, A. (2021). Do directors have style? Board interlock and accounting properties. Journal of Business Finance and Accounting, July, 1–30. https://doi.org/10.1111/jbfa.12567
Kim, I., Pantzalis, C., & Park, J. C. (2013). Corporate boards’ political ideology diversity and firm performance. Journal of Empirical Finance, 21(1), 223–240. https://doi.org/10.1016/j.jempfin.2013.02.002
Kumar, N., & Singh, J. P. (2013). Global Financial Crisis: Corporate Governance Failures and Lessons. Journal of Finance, Accounting and Management, 53(9), 1689–1699.
La Porta, R., Lopez‐de‐Silanes, F., Shleifer, A., & Vishny, R. W. (1998). Law and Finance. Journal of Political Economy, 106(6), 1113–1155. https://doi.org/10.1086/250042
Lagasio, V., & Cucari, N. (2019). Corporate governance and environmental social governance disclosure: A meta-analytical review. Corporate Social Responsibility and Environmental Management, 26(4), 701–711. https://doi.org/10.1002/csr.1716
Lazzaretti, K., Piekas, A. A. S., & Julkovski, D. J. (2019). CARACTERÍSTICAS DOS CONSELHOS DE ADMINISTRAÇÃO E DESEMPENHO DAS FIRMAS BRASILEIRAS DE CAPITAL ABERTO. Revista Gestão Organizacional, 12(3). https://doi.org/10.22277/rgo.v12i3.5197
Leal, R. P. C., Silva, A. L. C. da, & Valadares, S. M. (2002). Estrutura de controle das companhias brasileiras de capital aberto. Revista de Administração Contemporânea, 6(1), 7–18. https://doi.org/10.1590/S1415-65552002000100002
Liao, L., Luo, L., & Tang, Q. (2015). Gender diversity, board independence, environmental committee and greenhouse gas disclosure. British Accounting Review, 47(4), 409–424. https://doi.org/10.1016/j.bar.2014.01.002
Macedo, Á. F. P. de, Oliveira, A. M., Nobre, L. N., Brito, S. G., & Quandt, C. O. (2015). Governança Corporativa e Evidenciação de Capital Intelectual em Empresas Brasileiras. Revista Evidenciação Contábil & Finanças, 3(1), 18–33. https://doi.org/10.18405/recfin20150102
Mardjono, A. (2005). A tale of corporate governance: lessons why firms fail. Managerial Auditing Journal, 20(3), 272–283. https://doi.org/10.1108/02686900510585609
Marques, T. de Á., Guimarães, T. M., & Peixoto, F. M. (2015). A CONCENTRAÇÃO ACIONÁRIA NO BRASIL: ANÁLISE DOS IMPACTOS NO DESEMPENHO, VALOR E RISCO DAS EMPRESAS. RAM. Revista de Administração Mackenzie, 16(4), 100–133. https://doi.org/10.1590/1678-69712015/administracao.v16n4p100-133
Mastella, M., Vancin, D., Perlin, M., & Kirch, G. (2021). Board gender diversity: performance and risk of Brazilian firms. Gender in Management, 36(4), 498–518. https://doi.org/10.1108/GM-06-2019-0088
Milani, B., Righi, M. B., Ceretta, P. S., & Dias, V. D. V. (2012). Práticas de Sustentabilidade, Governança Corporativa e Responsabilidade Social afetam o risco e o retorno dos investimentos? Revista de Administração Da UFSM, 5, 667–682. https://doi.org/10.5902/198346596946
Miller, T., & del Carmen Triana, M. (2009). Demographic Diversity in the Boardroom: Mediators of the Board Diversity-Firm Performance Relationship. Journal of Management Studies, 46(5), 755–786. https://doi.org/10.1111/j.1467-6486.2009.00839.x
Milliken, F. J., & Martins, L. L. (1996). Searching for Common Threads: Understanding the Multiple Effects of Diversity in Organizational Groups. The Academy of Management Review, 21(2), 402. https://doi.org/10.2307/258667
Monte, D. S., Oliveira, M. C., & De Alencar, R. C. (2021). Divulgação das Práticas de Integridade e a Relação com as Características do Conselho de Administração. 21o USP International Conference in Accounting, 1.
Mousa, M. (2021). Does Gender Diversity Affect Workplace Happiness for Academics? The Role of Diversity Management and Organizational Inclusion. Public Organization Review, 21(1), 119–135. https://doi.org/10.1007/s11115-020-00479-0
Muller-Kahle, M. I., & Lewellyn, K. B. (2011). Did Board Configuration Matter? The Case of US Subprime Lenders. Corporate Governance: An International Review, 19(5), 405–417. https://doi.org/10.1111/j.1467-8683.2011.00871.x
Nadeem, M. (2020). Does board gender diversity influence voluntary disclosure of intellectual capital in initial public offering prospectuses? Evidence from China. Corporate Governance: An International Review, 28(2), 100–118. https://doi.org/10.1111/corg.12304
Nakano, M., & Nguyen, P. (2011). Do Older Boards Affect Firm Performance? An Empirical Analysis Based on Japanese Firms. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.1879825
Nalikka, A. (2009). Impact of Gender Diversity on Voluntary Disclosure in Annual Reports. Accounting & Taxation, 1(1), 101–113.
Neu, D., Warsame, H., & Pedwell, K. (1998). Managing Public Impressions: Environmental Disclosures in Annual Reports. Accounting, Organizations and Society, 23(3), 265–282. https://doi.org/10.1016/S0361-3682(97)00008-1
Ooi, C. A., Hooy, C. W., & Mat Som, A. P. (2017). The influence of board diversity in human capital and social capital in crisis. Managerial Finance, 43(6), 700–719. https://doi.org/10.1108/MF-08-2016-0226
Perlin, M., Kirch, G., Vancin, D., & Mastella, M. (2021a). The Impact of Academic Titles of Board Member and Directors Over the Performance of Companies Traded at B3. Brazilian Business Review, 18(5), 561–584. https://doi.org/10.15728/bbr.2021.18.5.5
Perlin, M., Kirch, G., Vancin, D., & Mastella, M. (2021b). The Impact of Academic Titles of Board Member and Directors Over the Performance of Companies Traded at B3. Brazilian Business Review, 18(5), 561–584. https://doi.org/10.15728/bbr.2021.18.5.5
Perlin, M. S., Kirch, G., & Vancin, D. (2019). Accessing financial reports and corporate events with GetDFPData. Brazilian Review of Finance, 17(3), 85. https://doi.org/10.12660/rbfin.v17n3.2019.78654
Post, C., Rahman, N., & Rubow, E. (2011). Green Governance: Boards of Directors’ Composition and Environmental Corporate Social Responsibility. Business & Society, 50(1), 189–223. https://doi.org/10.1177/0007650310394642
Procianoy, J. L., & Decourt, R. F. (2014). The Brazilian Fiscal Council — Protecting Minority Shareholders in a Weak Legal System. In Corporate Governance and Corporate Social Responsibility (pp. 159–180). WORLD SCIENTIFIC. https://doi.org/10.1142/9789814520386_0006
Prudêncio, P., Forte, H., Crisóstomo, V., & Vasconcelos, A. (2021). Effect of Diversity in the Board of Directors and Top Management Team on Corporate Social Responsibility. Brazilian Business Review, 18(2), 118–139. https://doi.org/10.15728/bbr.2021.18.2.1
Rao, K., & Tilt, C. (2016). Board Composition and Corporate Social Responsibility: The Role of Diversity, Gender, Strategy and Decision Making. Journal of Business Ethics, 138(2), 327–347. https://doi.org/10.1007/s10551-015-2613-5
Ratmono, D., Nugrahini, D. E., & Cahyonowati, N. (2021). The Effect of Corporate Governance on Corporate Social Responsibility Disclosure and Performance. Journal of Asian Finance, Economics and Business, 8(2), 933–941. https://doi.org/10.13106/jafeb.2021.vol8.no2.0933
Santiago-Castro, M., & Brown, C. J. (2007). Ownership structure and minority rights: A Latin American view. Journal of Economics and Business, 59(5), 430–442. https://doi.org/10.1016/j.jeconbus.2007.04.005
Santos, L. M. da S., Costa Santos, M. I. da, & Leite Filho, P. A. M. (2022). A Influência da diversidade de gênero, no comitê de auditoria, na evidenciação de informações ambientais das empresas listadas na B3. Enfoque: Reflexão Contábil, 41(1), 77–93. https://doi.org/10.4025/enfoque.v41i1.52798
Schmidt, R. H., & Tyrell, M. (1997). Financial Systems, Corporate Finance and Corporate Governance. European Financial Management, 3(3), 333–361. https://doi.org/10.1111/1468-036X.00047
Silveira, A. D. M. da. (2002). Governança corporativa, desempenho e valor da empresa no Brasil. (Vol. 85, Issue 2) [Universidade de São Paulo]. https://doi.org/10.11606/D.12.2002.tde-04122002-102056
Souza, E. M. de, & Carrieri, A. de P. (2010). A analítica queer e seu rompimento com a concepção binária de gênero. RAM. Revista de Administração Mackenzie, 11(3), 46–70. https://doi.org/10.1590/S1678-69712010000300005
Tingbani, I., Chithambo, L., Tauringana, V., & Papanikolaou, N. (2020). Board gender diversity, environmental committee and greenhouse gas voluntary disclosures. Business Strategy and the Environment, 29(6), 2194–2210. https://doi.org/10.1108/JAAR-10-2014-0114
Tinoco, J. E. P., Escuder, S. A. L., & Yoshitake, M. (2011). O Conselho Fiscal e a Governança Corporativa: Transparência e Gestão de Conflitos
DOI:10.5007/2175-8069.2011v8n16p175. Revista Contemporânea de Contabilidade, 8(16), 175–202. https://doi.org/10.5007/2175-8069.2011v8n16p175
Trambacos, F. L. (2020). A relação entre a diversidade no Conselho de Administração e na diretoria e o retorno acionário [Universidade de São Paulo]. https://doi.org/10.11606/T.12.2020.tde-24092021-171124
Van Peteghem, M., Bruynseels, L., & Gaeremynck, A. (2018). Beyond Diversity: A Tale of Faultlines and Frictions in the Board of Directors. The Accounting Review, 93(2), 339–367. https://doi.org/10.2308/accr-51818
Wang, Y., & Clift, B. (2009). Is there a “business case” for board diversity? Pacific Accounting Review, 21(2), 88–103. https://doi.org/10.1108/01140580911002044
Wellalage, N. H., & Locke, S. (2013). Corporate governance, board diversity and firm financial performance: new evidence from Sri Lanka. International Journal of Business Governance and Ethics, 8(2), 116. https://doi.org/10.1504/IJBGE.2013.054416
Wellalage, N. H., Locke, S., & Scrimgeour, F. (2012). The Global Financial Crisis Impact on Ethnic Diversity of Sri Lanka Boards. Asian Journal of Finance & Accounting, 4(1), 52–68. https://doi.org/10.5296/ajfa.v4i1.1243
Yatim, P., Kent, P., & Clarkson, P. (2006). Governance structures, ethnicity, and audit fees of Malaysian listed firms. Managerial Auditing Journal, 21(7), 757–782. https://doi.org/10.1108/02686900610680530
Adams, R. B., & Ferreira, D. (2009). Women in the boardroom and their impact on governance and performance☆. Journal of Financial Economics, 94(2), 291–309. https://doi.org/10.1016/j.jfineco.2008.10.007
Afeltra, G., Alerasoul, A., & Usman, B. (2022). Board of Directors and Corporate Social Reporting: A Systematic Literature Network Analysis. Accounting in Europe, 19(1), 48–77. https://doi.org/10.1080/17449480.2021.1979609
Agyemang-Mintah, P., & Schadewitz, H. (2019). Gender diversity and firm value: evidence from UK financial institutions. International Journal of Accounting & Information Management, 27(1), 2–26. https://doi.org/10.1108/IJAIM-06-2017-0073
Almeida, T. A., Morais, C. R. F. de, & Coelho, A. C. (2020). Gender diversity, governance and dividend policy in Brazil. Revista de Gestao, 27(2), 189–205. https://doi.org/10.1108/REGE-03-2019-0041
Al-Musali, M. A. K. M., & Ku Ismail, K. N. I. (2015). Board diversity and intellectual capital performance. Accounting Research Journal, 28(3), 268–283. https://doi.org/10.1108/ARJ-01-2014-0006
Al-Shaer, H., Salama, A., & Toms, S. (2017). Audit committees and financial reporting quality. Journal of Applied Accounting Research, 18(1), 2–21. https://doi.org/10.1108/JAAR-10-2014-0114
Al-Shaer, H., & Zaman, M. (2016). Board gender diversity and sustainability reporting quality. Journal of Contemporary Accounting & Economics, 12(3), 210–222. https://doi.org/10.1016/j.jcae.2016.09.001
Amorelli, M., & García‐Sánchez, I. (2020). Critical mass of female directors, human capital, and stakeholder engagement by corporate social reporting. Corporate Social Responsibility and Environmental Management, 27(1), 204–221. https://doi.org/10.1002/csr.1793
Anderson, R. C., Reeb, D. M., Upadhyay, A., & Zhao, W. (2011). The Economics of Director Heterogeneity. Financial Management, 40(1), 5–38. https://doi.org/10.1111/j.1755-053X.2010.01133.x
Anderson-Gough, F., Edgley, C., Robson, K., & Sharma, N. (2022). Organizational responses to multiple logics: Diversity, identity and the professional service firm. Accounting, Organizations and Society, xxxx, 101336. https://doi.org/10.1016/j.aos.2022.101336
Bantel, K. A., & Jackson, S. E. (1989). Top management and innovations in banking: Does the composition of the top team make a difference? Strategic Management Journal, 10(S1), 107–124. https://doi.org/https://doi.org/10.13106/jafeb.2021.vol8.no2.0933
Barak, M. E. M. (1999). Beyond Affirmative Action. Administration in Social Work, 23(3–4), 47–68. https://doi.org/10.1300/J147v23n03_04
Bear, S., Rahman, N., & Post, C. (2010). The Impact of Board Diversity and Gender Composition on Corporate Social Responsibility and Firm Reputation. Journal of Business Ethics, 97(2), 207–221. https://doi.org/10.1007/s10551-010-0505-2
Ben-Amar, W., Chang, M., & McIlkenny, P. (2017). Board Gender Diversity and Corporate Response to Sustainability Initiatives: Evidence from the Carbon Disclosure Project. Journal of Business Ethics, 142(2), 369–383. https://doi.org/10.1007/s10551-015-2759-1
Benston, G. J. (1982). Accounting and corporate accountability. Accounting, Organizations and Society, 7(2), 87–105. https://doi.org/10.1016/0361-3682(82)90014-9
Black, B. S., de Carvalho, A. G., & Sampaio, J. O. (2014). The evolution of corporate governance in Brazil. Emerging Markets Review, 20(12), 176–195. https://doi.org/10.1016/j.ememar.2014.04.004
Booth-Bell, D. (2018). Social capital as a new board diversity rationale for enhanced corporate governance. Corporate Governance (Bingley), 18(3), 425–439. https://doi.org/10.1108/CG-02-2017-0035
Borsatto Junior, J. L., Zabotti, E. D., & Araújo, M. da P. (2020). GÊNERO, ETNIA E RAÇA: DÉBITO OU CRÉDITO NA CONTABILIDADE? Contabilidade Vista & Revista, 31(2), 68–94. https://doi.org/10.22561/cvr.v31i2.4954
Bravo, F., & Reguera‐Alvarado, N. (2018). Sustainable development disclosure: Environmental, social, and governance reporting and gender diversity in the audit committee. Business Strategy and the Environment, 28(2), bse.2258. https://doi.org/10.1002/bse.2258
Brugni, T. V., Paulo Lopes Fávero, L., Cabús Klotzle, M., & Carlos Figueiredo Pinto, A. (2018). CONSELHOS DE ADMINISTRAÇÃO BRASILEIROS: UMA ANÁLISE À LUZ DOS FORMULÁRIOS DE REFERÊNCIA. Advances in Scientific and Applied Accounting, 11(1), 146–165. https://doi.org/10.14392/asaa.2018110108
Bueno, G., Marcon, R., Pruner-da-Silva, A. L., & Ribeirete, F. (2018). The role of the board in voluntary disclosure. Corporate Governance (Bingley), 18(5), 886–910. https://doi.org/10.1108/CG-09-2017-0205
Calza, F., Profumo, G., & Tutore, I. (2016). Corporate Ownership and Environmental Proactivity. Business Strategy and the Environment, 25(6), 369–389. https://doi.org/10.1002/bse.1873
Chan, M. C., Watson, J., & Woodliff, D. (2014). Corporate Governance Quality and CSR Disclosures. Journal of Business Ethics, 125(1), 59–73. https://doi.org/10.1007/s10551-013-1887-8
Cheung, K. Y., & Chung, C. V. (2022). Board characteristics and audit committee diversities: Evidence from Hong Kong. Corporate Ownership and Control, 19(4), 17–29. https://doi.org/10.22495/cocv19i4art2
Chin, M. K., Hambrick, D. C., & Treviño, L. K. (2013). Political Ideologies of CEOs: The Influence of Executives’ Values on Corporate Social Responsibility. Administrative Science Quarterly, 58(2), 197–232. https://doi.org/10.1177/0001839213486984
Correia, T. de S., & Lucena, W. G. L. (2020). Board of directors and code of business ethics of Brazilian companies. RAUSP Management Journal, 55(2), 263–279. https://doi.org/10.1108/RAUSP-12-2018-0147
Cuomo, F., Mallin, C., & Zattoni, A. (2016). Corporate Governance Codes: A Review and Research Agenda. Corporate Governance: An International Review, 24(3), 222–241. https://doi.org/10.1111/corg.12148
D’Aveni, R. A. (1990). Top Managerial Prestige and Organizational Bankruptcy. Organization Science, 1(2), 121–142. https://doi.org/10.1287/orsc.1.2.121
Ellis, C. (1994). Diverse approaches to managing diversity. Human Resource Management, 33(1), 79–109. https://doi.org/10.1002/hrm.3930330106
Esa, E., & Zahari, A. R. (2016). Corporate Social Responsibility: Ownership Structures, Board Characteristics & the Mediating Role of Board Compensation. Procedia Economics and Finance, 35(16), 35–43. https://doi.org/10.1016/s2212-5671(16)00007-1
Fernández-Temprano, M. A., & Tejerina-Gaite, F. (2020). Types of director, board diversity and firm performance. Corporate Governance: The International Journal of Business in Society, 20(2), 324–342. https://doi.org/10.1108/CG-03-2019-0096
Ferrero-Ferrero, I., Fernández-Izquierdo, M. Á., & Muñoz-Torres, M. J. (2015). Integrating Sustainability into Corporate Governance: An Empirical Study on Board Diversity. Corporate Social Responsibility and Environmental Management, 22(4), 193–207. https://doi.org/10.1002/csr.1333
Fia, M., & Sacconi, L. (2019). Justice and Corporate Governance: New Insights from Rawlsian Social Contract and Sen’s Capabilities Approach. Journal of Business Ethics, 160(4), 937–960. https://doi.org/10.1007/s10551-018-3939-6
Galia, F., & Zenou, E. (2012). Board composition and forms of innovation: Does diversity make a difference? European Journal of International Management, 6(6), 630–650. https://doi.org/10.1504/EJIM.2012.050425
García-Meca, E., García-Sánchez, I. M., & Martínez-Ferrero, J. (2015). Board diversity and its effects on bank performance: An international analysis. Journal of Banking and Finance, 53, 202–214. https://doi.org/10.1016/j.jbankfin.2014.12.002
Garofalo, E. M., & Garvin, H. M. (2020). The confusion between biological sex and gender and potential implications of misinterpretations. In Sex Estimation of the Human Skeleton. Elsevier Inc. https://doi.org/10.1016/b978-0-12-815767-1.00004-3
Gomes-Meija, L. R., Balkin, D., & Cardy, R. (2012). Manging Human Resources.
Griffin, D., Li, K., & Xu, T. (2021). Board gender diversity and corporate innovation: International evidence. Journal of Financial and Quantitative Analysis, 56(1), 123–154. https://doi.org/10.1017/S002210901900098X
Gul, F. A., Srinidhi, B., & Ng, A. C. (2011). Does board gender diversity improve the informativeness of stock prices? Journal of Accounting and Economics, 51(3), 314–338. https://doi.org/10.1016/j.jacceco.2011.01.005
Gupta, P. P., Lam, K. C. K., Sami, H., & Zhou, H. (2014). Board Diversity and Its Effect on Firm Financial and Non-Financial Performance. SSRN Electronic Journal, April 2015. https://doi.org/10.2139/ssrn.2531212
Gyapong, E., Monem, R. M., & Hu, F. (2016). Do Women and Ethnic Minority Directors Influence Firm Value? Evidence from Post-Apartheid South Africa. Journal of Business Finance & Accounting, 43(3–4), 370–413. https://doi.org/10.1111/jbfa.12175
Hambrick, D. C., & Mason, P. a. (1984). Upper Echelons: The Organization as a Reflection of Its Top Managers. The Academy of Management Review, 9(2), 193. https://doi.org/10.2307/258434
Hamid, M. A., Ting, I. W. K., & Kweh, Q. L. (2016). The Relationship between Corporate Governance and Expropriation of Minority Shareholders’ Interests. Procedia Economics and Finance, 35(16), 99–106. https://doi.org/10.1016/S2212-5671(16)00014-9
Hannan, M. T., & Freeman, J. (1977). The Population Ecology of Organizations. American Journal of Sociology, 82(5), 929–964. https://doi.org/10.1086/226424
Harjoto, M. A., & Jo, H. (2011). Corporate Governance and CSR Nexus. Journal of Business Ethics, 100(1), 45–67. https://doi.org/10.1007/s10551-011-0772-6
IBGC, I. B. de G. C. (2010). Caderno de Boas Práticas para Reuniões do Conselho de Administração. 46 p.
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305–360. https://doi.org/10.1016/0304-405X(76)90026-X
Karim, K. E., Li, J., Lin, K. J., & Robin, A. (2021). Do directors have style? Board interlock and accounting properties. Journal of Business Finance and Accounting, July, 1–30. https://doi.org/10.1111/jbfa.12567
Kim, I., Pantzalis, C., & Park, J. C. (2013). Corporate boards’ political ideology diversity and firm performance. Journal of Empirical Finance, 21(1), 223–240. https://doi.org/10.1016/j.jempfin.2013.02.002
Kumar, N., & Singh, J. P. (2013). Global Financial Crisis: Corporate Governance Failures and Lessons. Journal of Finance, Accounting and Management, 53(9), 1689–1699.
La Porta, R., Lopez‐de‐Silanes, F., Shleifer, A., & Vishny, R. W. (1998). Law and Finance. Journal of Political Economy, 106(6), 1113–1155. https://doi.org/10.1086/250042
Lagasio, V., & Cucari, N. (2019). Corporate governance and environmental social governance disclosure: A meta-analytical review. Corporate Social Responsibility and Environmental Management, 26(4), 701–711. https://doi.org/10.1002/csr.1716
Lazzaretti, K., Piekas, A. A. S., & Julkovski, D. J. (2019). CARACTERÍSTICAS DOS CONSELHOS DE ADMINISTRAÇÃO E DESEMPENHO DAS FIRMAS BRASILEIRAS DE CAPITAL ABERTO. Revista Gestão Organizacional, 12(3). https://doi.org/10.22277/rgo.v12i3.5197
Leal, R. P. C., Silva, A. L. C. da, & Valadares, S. M. (2002). Estrutura de controle das companhias brasileiras de capital aberto. Revista de Administração Contemporânea, 6(1), 7–18. https://doi.org/10.1590/S1415-65552002000100002
Liao, L., Luo, L., & Tang, Q. (2015). Gender diversity, board independence, environmental committee and greenhouse gas disclosure. British Accounting Review, 47(4), 409–424. https://doi.org/10.1016/j.bar.2014.01.002
Macedo, Á. F. P. de, Oliveira, A. M., Nobre, L. N., Brito, S. G., & Quandt, C. O. (2015). Governança Corporativa e Evidenciação de Capital Intelectual em Empresas Brasileiras. Revista Evidenciação Contábil & Finanças, 3(1), 18–33. https://doi.org/10.18405/recfin20150102
Mardjono, A. (2005). A tale of corporate governance: lessons why firms fail. Managerial Auditing Journal, 20(3), 272–283. https://doi.org/10.1108/02686900510585609
Marques, T. de Á., Guimarães, T. M., & Peixoto, F. M. (2015). A CONCENTRAÇÃO ACIONÁRIA NO BRASIL: ANÁLISE DOS IMPACTOS NO DESEMPENHO, VALOR E RISCO DAS EMPRESAS. RAM. Revista de Administração Mackenzie, 16(4), 100–133. https://doi.org/10.1590/1678-69712015/administracao.v16n4p100-133
Mastella, M., Vancin, D., Perlin, M., & Kirch, G. (2021). Board gender diversity: performance and risk of Brazilian firms. Gender in Management, 36(4), 498–518. https://doi.org/10.1108/GM-06-2019-0088
Milani, B., Righi, M. B., Ceretta, P. S., & Dias, V. D. V. (2012). Práticas de Sustentabilidade, Governança Corporativa e Responsabilidade Social afetam o risco e o retorno dos investimentos? Revista de Administração Da UFSM, 5, 667–682. https://doi.org/10.5902/198346596946
Miller, T., & del Carmen Triana, M. (2009). Demographic Diversity in the Boardroom: Mediators of the Board Diversity-Firm Performance Relationship. Journal of Management Studies, 46(5), 755–786. https://doi.org/10.1111/j.1467-6486.2009.00839.x
Milliken, F. J., & Martins, L. L. (1996). Searching for Common Threads: Understanding the Multiple Effects of Diversity in Organizational Groups. The Academy of Management Review, 21(2), 402. https://doi.org/10.2307/258667
Monte, D. S., Oliveira, M. C., & De Alencar, R. C. (2021). Divulgação das Práticas de Integridade e a Relação com as Características do Conselho de Administração. 21o USP International Conference in Accounting, 1.
Mousa, M. (2021). Does Gender Diversity Affect Workplace Happiness for Academics? The Role of Diversity Management and Organizational Inclusion. Public Organization Review, 21(1), 119–135. https://doi.org/10.1007/s11115-020-00479-0
Muller-Kahle, M. I., & Lewellyn, K. B. (2011). Did Board Configuration Matter? The Case of US Subprime Lenders. Corporate Governance: An International Review, 19(5), 405–417. https://doi.org/10.1111/j.1467-8683.2011.00871.x
Nadeem, M. (2020). Does board gender diversity influence voluntary disclosure of intellectual capital in initial public offering prospectuses? Evidence from China. Corporate Governance: An International Review, 28(2), 100–118. https://doi.org/10.1111/corg.12304
Nakano, M., & Nguyen, P. (2011). Do Older Boards Affect Firm Performance? An Empirical Analysis Based on Japanese Firms. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.1879825
Nalikka, A. (2009). Impact of Gender Diversity on Voluntary Disclosure in Annual Reports. Accounting & Taxation, 1(1), 101–113.
Neu, D., Warsame, H., & Pedwell, K. (1998). Managing Public Impressions: Environmental Disclosures in Annual Reports. Accounting, Organizations and Society, 23(3), 265–282. https://doi.org/10.1016/S0361-3682(97)00008-1
Ooi, C. A., Hooy, C. W., & Mat Som, A. P. (2017). The influence of board diversity in human capital and social capital in crisis. Managerial Finance, 43(6), 700–719. https://doi.org/10.1108/MF-08-2016-0226
Perlin, M., Kirch, G., Vancin, D., & Mastella, M. (2021a). The Impact of Academic Titles of Board Member and Directors Over the Performance of Companies Traded at B3. Brazilian Business Review, 18(5), 561–584. https://doi.org/10.15728/bbr.2021.18.5.5
Perlin, M., Kirch, G., Vancin, D., & Mastella, M. (2021b). The Impact of Academic Titles of Board Member and Directors Over the Performance of Companies Traded at B3. Brazilian Business Review, 18(5), 561–584. https://doi.org/10.15728/bbr.2021.18.5.5
Perlin, M. S., Kirch, G., & Vancin, D. (2019). Accessing financial reports and corporate events with GetDFPData. Brazilian Review of Finance, 17(3), 85. https://doi.org/10.12660/rbfin.v17n3.2019.78654
Post, C., Rahman, N., & Rubow, E. (2011). Green Governance: Boards of Directors’ Composition and Environmental Corporate Social Responsibility. Business & Society, 50(1), 189–223. https://doi.org/10.1177/0007650310394642
Procianoy, J. L., & Decourt, R. F. (2014). The Brazilian Fiscal Council — Protecting Minority Shareholders in a Weak Legal System. In Corporate Governance and Corporate Social Responsibility (pp. 159–180). WORLD SCIENTIFIC. https://doi.org/10.1142/9789814520386_0006
Prudêncio, P., Forte, H., Crisóstomo, V., & Vasconcelos, A. (2021). Effect of Diversity in the Board of Directors and Top Management Team on Corporate Social Responsibility. Brazilian Business Review, 18(2), 118–139. https://doi.org/10.15728/bbr.2021.18.2.1
Rao, K., & Tilt, C. (2016). Board Composition and Corporate Social Responsibility: The Role of Diversity, Gender, Strategy and Decision Making. Journal of Business Ethics, 138(2), 327–347. https://doi.org/10.1007/s10551-015-2613-5
Ratmono, D., Nugrahini, D. E., & Cahyonowati, N. (2021). The Effect of Corporate Governance on Corporate Social Responsibility Disclosure and Performance. Journal of Asian Finance, Economics and Business, 8(2), 933–941. https://doi.org/10.13106/jafeb.2021.vol8.no2.0933
Santiago-Castro, M., & Brown, C. J. (2007). Ownership structure and minority rights: A Latin American view. Journal of Economics and Business, 59(5), 430–442. https://doi.org/10.1016/j.jeconbus.2007.04.005
Santos, L. M. da S., Costa Santos, M. I. da, & Leite Filho, P. A. M. (2022). A Influência da diversidade de gênero, no comitê de auditoria, na evidenciação de informações ambientais das empresas listadas na B3. Enfoque: Reflexão Contábil, 41(1), 77–93. https://doi.org/10.4025/enfoque.v41i1.52798
Schmidt, R. H., & Tyrell, M. (1997). Financial Systems, Corporate Finance and Corporate Governance. European Financial Management, 3(3), 333–361. https://doi.org/10.1111/1468-036X.00047
Silveira, A. D. M. da. (2002). Governança corporativa, desempenho e valor da empresa no Brasil. (Vol. 85, Issue 2) [Universidade de São Paulo]. https://doi.org/10.11606/D.12.2002.tde-04122002-102056
Souza, E. M. de, & Carrieri, A. de P. (2010). A analítica queer e seu rompimento com a concepção binária de gênero. RAM. Revista de Administração Mackenzie, 11(3), 46–70. https://doi.org/10.1590/S1678-69712010000300005
Tingbani, I., Chithambo, L., Tauringana, V., & Papanikolaou, N. (2020). Board gender diversity, environmental committee and greenhouse gas voluntary disclosures. Business Strategy and the Environment, 29(6), 2194–2210. https://doi.org/10.1108/JAAR-10-2014-0114
Tinoco, J. E. P., Escuder, S. A. L., & Yoshitake, M. (2011). O Conselho Fiscal e a Governança Corporativa: Transparência e Gestão de Conflitos
DOI:10.5007/2175-8069.2011v8n16p175. Revista Contemporânea de Contabilidade, 8(16), 175–202. https://doi.org/10.5007/2175-8069.2011v8n16p175
Trambacos, F. L. (2020). A relação entre a diversidade no Conselho de Administração e na diretoria e o retorno acionário [Universidade de São Paulo]. https://doi.org/10.11606/T.12.2020.tde-24092021-171124
Van Peteghem, M., Bruynseels, L., & Gaeremynck, A. (2018). Beyond Diversity: A Tale of Faultlines and Frictions in the Board of Directors. The Accounting Review, 93(2), 339–367. https://doi.org/10.2308/accr-51818
Wang, Y., & Clift, B. (2009). Is there a “business case” for board diversity? Pacific Accounting Review, 21(2), 88–103. https://doi.org/10.1108/01140580911002044
Wellalage, N. H., & Locke, S. (2013). Corporate governance, board diversity and firm financial performance: new evidence from Sri Lanka. International Journal of Business Governance and Ethics, 8(2), 116. https://doi.org/10.1504/IJBGE.2013.054416
Wellalage, N. H., Locke, S., & Scrimgeour, F. (2012). The Global Financial Crisis Impact on Ethnic Diversity of Sri Lanka Boards. Asian Journal of Finance & Accounting, 4(1), 52–68. https://doi.org/10.5296/ajfa.v4i1.1243
Yatim, P., Kent, P., & Clarkson, P. (2006). Governance structures, ethnicity, and audit fees of Malaysian listed firms. Managerial Auditing Journal, 21(7), 757–782. https://doi.org/10.1108/02686900610680530
Publicado
2024-09-09
Como Citar
Ventura, M. G. C., Matos, E. B. S. de, & Nasu, V. H. (2024). Análise longitudinal (2012-2021) da diversidade na alta administração das empresas de capital aberto do Brasil. Enfoque: Reflexão Contábil, 43(3), 36-59. https://doi.org/10.4025/enfoque.v43i3.64674
Seção
Artigos Originais
DECLARAÇÃO DE ORIGINALIDADE E DIREITOS AUTORAIS
Declaro que o presente artigo é original, não tendo sido submetido à publicação em qualquer outro periódico nacional ou internacional, quer seja em parte ou em sua totalidade.
Os direitos autorais pertencem exclusivamente aos autores. Os direitos de licenciamento utilizados pelo periódico é a licença Creative Commons Attribution 3.0 (CC BY 3.0): são permitidos o acompartilhamento (cópia e distribuição do material em qualqer meio ou formato) e adaptação (remix, transformação e criação de material a partir do conteúdo assim licenciado para quaisquer fins, inclusive comerciais.
Recomenda-se a leitura desse link para maiores informações sobre o tema: fornecimento de créditos e referências de forma correta, entre outros detalhes cruciais para uso adequado do material licenciado.
