Board of directors structure and performance of publicly listed companies in Brazil
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Abstract
We investigate the structures of Brazilian publicly listed companies' boards of directors as well as their relationship to firm performance. Data on capital ownership and on the boards comes from annual reports firms submitted to Brazil's stock exchange governing body (CVM) between 2003 and 2013. We find no evidence that performance is associated with board size or structure, nor with capital ownership structure.
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Long Paper
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