CORPORATE GOVERNANCE AND PERFORMANCE OF COMPANY STOCKS IN THE CONSUMER AND RETAIL SECTOR

This article analyses the correlation between corporate governance (CG) and stock performance, with the purpose of assessing the degree to which the classification of CG levels (N1, N2 and NM) and the behavior of stock exchange shares in the consumer and retail sector as listed in B3 (Brazil, Stock,...

Full description

Bibliographic Details
Main Authors: Guilherme André Peleglini Rocha, Eduardo Augusto do Rosário Contani, Thais Lucimara da Silva Reco
Format: Article
Language:English
Published: Universidade Federal do Ceará 2018-01-01
Series:Contextus
Subjects:
Online Access:http://www.periodicos.ufc.br/contextus/article/view/32310
id doaj-73094db7b0fa4eadb07ad9a159ae8b19
record_format Article
spelling doaj-73094db7b0fa4eadb07ad9a159ae8b192021-02-02T00:40:00ZengUniversidade Federal do CearáContextus1678-20892178-92582018-01-0115323025210.19094/contextus.v15i3.101030821CORPORATE GOVERNANCE AND PERFORMANCE OF COMPANY STOCKS IN THE CONSUMER AND RETAIL SECTORGuilherme André Peleglini Rocha0Eduardo Augusto do Rosário Contani1Thais Lucimara da Silva Reco2Universidade Estadual de LondrinaUniversidade Estadual de LondrinaUniversidade Estadual de LondrinaThis article analyses the correlation between corporate governance (CG) and stock performance, with the purpose of assessing the degree to which the classification of CG levels (N1, N2 and NM) and the behavior of stock exchange shares in the consumer and retail sector as listed in B3 (Brazil, Stock, Counter) can be mutually influenced. A quantitative methodological approach was used, drawn from the statistics obtained through t and F tests, to find possible differences with respect to risk and return between the group with CG and the traditional one. Three research hypotheses were raised in order to compare: (i) return of shares of companies with CG in contrast to that of companies listed in the traditional segment, (ii) return of shares of companies with CG and  of those listed in Ibovespa and (iii) risk of companies with CG and of those listed in the traditional segment. It has been found that companies listed with CG do not present statistically superior returns to traditional companies, which is a result that was also found in other studies (BAMPI et al., 2009; DOMINGOS; MOURA, 2015). On the other hand, companies with CG have less risk when compared to the companies listed in the traditional segment, thus confirming one of the research hypoteses and corroborating the findings of Matucheski, Clemente and Sandrini (2009) and Da Silva, Nardi and Junior (2012). There has also been no statistically significant difference between the companies with CG and the Ibovespa, a result also found in De Alencar et al. (2012).http://www.periodicos.ufc.br/contextus/article/view/32310Governança CorporativaConsumoVarejoBMFBOVESPA
collection DOAJ
language English
format Article
sources DOAJ
author Guilherme André Peleglini Rocha
Eduardo Augusto do Rosário Contani
Thais Lucimara da Silva Reco
spellingShingle Guilherme André Peleglini Rocha
Eduardo Augusto do Rosário Contani
Thais Lucimara da Silva Reco
CORPORATE GOVERNANCE AND PERFORMANCE OF COMPANY STOCKS IN THE CONSUMER AND RETAIL SECTOR
Contextus
Governança Corporativa
Consumo
Varejo
BMFBOVESPA
author_facet Guilherme André Peleglini Rocha
Eduardo Augusto do Rosário Contani
Thais Lucimara da Silva Reco
author_sort Guilherme André Peleglini Rocha
title CORPORATE GOVERNANCE AND PERFORMANCE OF COMPANY STOCKS IN THE CONSUMER AND RETAIL SECTOR
title_short CORPORATE GOVERNANCE AND PERFORMANCE OF COMPANY STOCKS IN THE CONSUMER AND RETAIL SECTOR
title_full CORPORATE GOVERNANCE AND PERFORMANCE OF COMPANY STOCKS IN THE CONSUMER AND RETAIL SECTOR
title_fullStr CORPORATE GOVERNANCE AND PERFORMANCE OF COMPANY STOCKS IN THE CONSUMER AND RETAIL SECTOR
title_full_unstemmed CORPORATE GOVERNANCE AND PERFORMANCE OF COMPANY STOCKS IN THE CONSUMER AND RETAIL SECTOR
title_sort corporate governance and performance of company stocks in the consumer and retail sector
publisher Universidade Federal do Ceará
series Contextus
issn 1678-2089
2178-9258
publishDate 2018-01-01
description This article analyses the correlation between corporate governance (CG) and stock performance, with the purpose of assessing the degree to which the classification of CG levels (N1, N2 and NM) and the behavior of stock exchange shares in the consumer and retail sector as listed in B3 (Brazil, Stock, Counter) can be mutually influenced. A quantitative methodological approach was used, drawn from the statistics obtained through t and F tests, to find possible differences with respect to risk and return between the group with CG and the traditional one. Three research hypotheses were raised in order to compare: (i) return of shares of companies with CG in contrast to that of companies listed in the traditional segment, (ii) return of shares of companies with CG and  of those listed in Ibovespa and (iii) risk of companies with CG and of those listed in the traditional segment. It has been found that companies listed with CG do not present statistically superior returns to traditional companies, which is a result that was also found in other studies (BAMPI et al., 2009; DOMINGOS; MOURA, 2015). On the other hand, companies with CG have less risk when compared to the companies listed in the traditional segment, thus confirming one of the research hypoteses and corroborating the findings of Matucheski, Clemente and Sandrini (2009) and Da Silva, Nardi and Junior (2012). There has also been no statistically significant difference between the companies with CG and the Ibovespa, a result also found in De Alencar et al. (2012).
topic Governança Corporativa
Consumo
Varejo
BMFBOVESPA
url http://www.periodicos.ufc.br/contextus/article/view/32310
work_keys_str_mv AT guilhermeandrepeleglinirocha corporategovernanceandperformanceofcompanystocksintheconsumerandretailsector
AT eduardoaugustodorosariocontani corporategovernanceandperformanceofcompanystocksintheconsumerandretailsector
AT thaislucimaradasilvareco corporategovernanceandperformanceofcompanystocksintheconsumerandretailsector
_version_ 1714917630792433664