Analysis of corporate governance and financial performance of companies in the capixaba region listed in b3.

Abstract

The business environment has experienced moments of great transformation. It is increasingly necessary to adopt governance practices that provide greater transparency and return for companies, as well as less risk to their shareholders. Therefore, corporate governance emerged as a way to reduce the distance between managers and investors, ensuring protection and transparency to shareholders, according to the practices indicated by IBGC. This article aims to investigate the influence of corporate governance on the economic and financial performance of Capixaba companies that adhered to different levels of corporate governance listed in B3. The sample consisted of eight companies, whose selection occurred because they presented differentiated accounting standards. As for the methodology, it was a research of quantitative approach of descriptive nature. For data collection, secondary sources from the Financial Statements were used, based on the years 2010 to 2019. For the analysis of the information, the multivariate linear regression method was used. It was possible to observe that the results and financial economic performances of the entities are negatively influenced by the levels of corporate governance. However, it is noteworthy that the levels of corporate governance are fundamental, but not exclusive, determinants in the economic and financial performance of companies in the period investigated.