Shareholder Theory

um conjunto de regras, procedimentos, atitudes e instituições que condicionam a ação dos administradores no sentido de atender aos interesses dos financiadores e das partes interessadas na empresa (stakeholders), particularmente os acionistas (shareholders). Ainda segundo o autor, práticas de governança, juntamente com as 22 leis e a atuação dos tribunais e dos legisladores, visam a evitar que uma parte seja expropriada por outra. Numa visão complementar, Nascimento, Bianchi e Terra (2007

proposes an agency theory perspective to explain trade credit, as an alternative to the tax, liquidity, transaction costs and product quality explanations (Bastos and Pindado, 2007). These authors base their arguments on the adverse selection and moral hazard phenomena, all of them focused on accounts receivables, and find a negative relation between the days of sales outstanding and the days to pay accounts payable. Overall, Bastos and Pindado (2007) conclude that the agency theory is a…

organizations restore strategic control and allow the development of a critical mass of strategic leaders, these leaders will be a source of above-average returns. The result will be wealth creation for the employees, customers, suppliers, and shareholders of entrepreneurial and established organizations. PALAVRAS-CHAVE Estratégia, liderança estratégica, liderança visionária, liderança gerencial, criação de valor. KEY WORDS Strategy, strategic leadership, visionary leadership, managerial

administradores e a variação do EBTIDA. Palavras-chave: remuneração variável; EBTIDA, governança corporativa, teoria de agência. ABSTRACT In order to align the goals of managers, who are responsible for making decisions with those of shareholders, who are the owners of companies, Brazilian companies currently tend to give a financial incentive to their executives if they can reach certain targets which are desired by the company owners. Normally, this incentive is tied to some…

(1967), Understanding the Social Responsibility Puzzle, Business Horizon • Dias, V. A. (1996). Eventos: colaboração em aspectos da comunicação visual. PortoAlegre: Intermediário. • Donaldson, T.; Preston, L. E. (1995). "The Stakeholder Theory of the Corporation: Concepts, Evidence, and Implications". Academy of Management Review 20 (1): 65–91. 36 • Donnelly, J., Gibson, J. e Ivancevich, J. (2000): “Administração: Princípios de Gestão Empresarial”, 10ª Edição,…

.................................................................................................... 75 RISK & UNCERTAINITY IN DECSION MAKING ...................................................................................... 77 LEARNING CURVE THEORY ................................................................................................................. 88 FORECASTING .....................................................................................................................

search for customers will not lead to the waited results. Additionally, if it is observed that there is a reasonable relation between operational margin and net profits, this fortifies the necessity of the control of the costs to get results for the shareholders. 1. INTRODUÇÃO A indústria do transporte aéreo tem sido objeto de crescente desregulamentação ao longo dos últimos anos em todas as partes do mundo. Embora, a intensidade desta desregulamentação seja diferenciada entre países e…

research has focused on several researchers, among others, Rokearch, Inglehart, Schwartz, and Tamayo. Was undertaken field research, consisting in the use of numerical data, analysis observatory of events, interviews with employees, managers and shareholders, aiming to understand the values present in the processes experienced. Based on Schwartz Values Survey, interviews were conducted by questionnaire designed to identify the predominant values of various groups that constitute the…

Administração. Rio Grande do Sul, 2005. GRACIOLI, C.; CARETTA, P. S. Capital Intelectual: métodos de avaliação. Disponível em: http://www.ufms.br/adm/mestrado/Cap_int.pdf. Acesso em: 27 de novembro 2013. GRANT, R. M. Toward a knowledge-based theory of the firm. Strategic Management Journal, v. 17, p. 109-122, winter 1996. GUPTA, A. K. V.; GOVINDARAJAN. Knowledge flows within multinational corporations. Strategic Management Journal, v. 21, n. 4, p. 473-496, 2000. HERCKERT, W.…

Defends Strategy to Exasperated Investors http://www.foxbusiness.com/technology/2012/05/03/nokia-defends-strategy-to-exasperated-investors/ Nokia's chairman-designate Risto Siilasmaa defended its turnaround strategy on Thursday before meeting shareholders who are losing patience with the company's efforts to catch up in the smartphone market Sales of Nokia's new smartphone range have so far been slow and are yet to compensate for diving sales of previous products. Nokia also lost…