A three-dimensional comparison of the Portuguese and Brazilian corporate governance practices
PFN 2012 Conference
Abstract This study provides an embracing overview and comparison of corporate governance practices in Portugal and Brazil, regarding three major dimensions: ownership, the board of directors and managerial compensation. The conclusions reveal important differences and similarities between both countries. Similarities are essentially found in ownership structure, with a clear predominance of family firms, and in board diversity. On the other hand, differences between the two countries include the structure of the board of directors, where Brazilian firms reveal a clearly higher board independence, and executive compensation, where Portugal shows lower levels of compensation.
Corporate Governance; Shareholders; Board of Directors; Executive compensation