Shareholder Theory

traditional measures to evaluate the economic performance of companies are unable to determine whether shareholder value is being created or destroyed and therefore contributing to increase or decrease the market value of companies, since its calculation tends to be based almost exclusively on accounting data. EVA/MVA is presented as the methodology that allows to examine whether shareholder value is being created and to quantify this value. While EVA reflects the value created by…

por intermédio de uma visão sistêmica como articuladora de todos os temas já mencionados. Palavras-chave: Gestão ambiental. Complexidade. Abordagem sistêmica. Complexity and systemic approach: identifying the similarities between the Stakeholders Theory and the environmental management process 1 2 3 4 5 Doutora em Agronegócios pela Universidade Federal do Rio Grande do Sul – UFRS. Mestre em Economia Aplicada pela Universidade Federal de Viçosa – UFV. Professora Adjunta da…

Perdigão pela Sadia causou grande repercussão no mercado, aumentando a atenção do órgão regulador em operações similares. 2007 Governança no mundo ICGN lançou guia sobre responsabilidade dos acionistas: Statement of Principles on Institutional Shareholder Responsibilities. Governança no Brasil A Governança Corporativa originou-se em um tripé formado pelo fundo LENS, criado por Roberto Monks em 1992, ao efetivar um novo modelo de gestão para consolidar melhores resultados e…

PALAVRAS-CHAVE: Gerenciamento Estratégico; Postura gerencial; Meio envolvente. Abstract This article has the overall theme of the stakeholder approach to strategic management. Its discusses some environmental determinants explained by the Theory of Contingency and Resource Dependence Theory. From these theories emerge some constructs (determinants) internal and external in organizations, that predict whether firms will adopt a posture of protection and management block known as…

possibilities of generalization of the corporate governance theoretical frame to organizations within a non-profit environment. The limits of the agency theory, as a major theoretical framework, is investigated in the context of pension funds in Brazil through the examination of monitoring, control and incentives mechanisms, as proposed by the theory, by sponsors and participants of pension plans. It is also investigated the actual importance of those mechanisms to conform their…

Credible Reporting of Accruals, Auditing: A Journal of Theory and Practice, 1998. Francis, J., D. Philbrick and K. Schipper, 1994, Shareholder litigation and corporate disclosure, Journal of Accounting Research, 32, 137-164. Gilson, S., and J. Warner, 1988, Private versus public debt: evidence from firms that replace bank loans with junk bonds, Working paper, Harvard Business School. Kaplan, S. and P. Stromberg, 1999, Financial contracting theory meets the real world: an empirical…

link. In particular, it is unclear to what extent accounting information or firm disclosures reduce non-diversifiable risks in economies with multiple securities. Asset pricing models, such as the Capital Asset Pricing Model (CAPM), and portfolio theory emphasize the importance of distinguishing between risks that are diversifiable and those that are not. Thus, the challenge for accounting researchers is to demonstrate whether and how firms’ accounting information manifests in their cost…

for achieving these goals, and defines the range of business the company is to pursue, the kind of economic and human organization it is or intends to be, and the nature of the economic and noneconomic contribution it intends to make to its shareholders, employees, customers, and communities». Desde que a definição da actividade (do negócio) fosse bem executada, as questões deslocavam-se para as oportunidades e ameaças do meio envolvente, para em seguida posicionar a empresa, em…

those deficiencies. In consequence of the exposed scenery, to problem it can be synthesized in the following subject: Are the methodologies of accounting traditional properly structured to supply information for the administration and for the shareholders? The observation of the methodological aspects tries to indicate the means they be used it to reach the established objectives. The referring information to the theme " Methodologies of the Accounting " were obtained by researches…

(2008), pode-se observar diferentes abordagens de responsabilidade socioambiental, que vão desde a ampla perspectiva fundamentada na teoria dos stakeholders até abordagem focada no lucro, a partir da teoria dos shareholders. Como diferença básica, o autor cita que a teoria dos shareholders tem uma visão de sistema fechado de empresa, com ênfase na racionalização de operações, maximização de eficiência e redução de custo, enquanto que a teoria dos stakeholders tem uma visão de empresa…