VALUE, GOVERNANCE AND FOREIGN SHAREHOLDING IN BRAZILIAN COMPANIES

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Natalia Simoes, Andre Carvalhal ORCID logo

https://doi.org/10.22495/cocv13i3c2p1

Abstract

This study aims to identify the characteristics of Brazilian listed companies that have foreign investors. The purpose is to examine whether such companies have higher performance and valuation and better corporate governance. We study 215 listed companies from 2001 to 2012, and find that there is a significant relationship between the presence of foreign investors and higher firm valuation, higher profitability and better corporate governance.

Keywords: Foreign Investors, Corporate Governance, Firm Value and Performance

How to cite this paper: Simoes, N., Carvalhal, A.(2016). Value, governance and foreign shareholding in Brazilian companies. Corporate Ownership & Control, 13(3-2), 275-278. https://doi.org/10.22495/cocv13i3c2p1