Influence of the Characteristics of the Board of Directors on the Performance of Companies with Board Interlocking Outros Idiomas

This study was developed along with companies which received the Human Resources Distinction Awards for their achievements in strategic management of people from 2010 to 2014, awarded by the Human Resources Association of Serra Gaúcha (ARH Serrana). It aimed to understand how these companies awarded by ARH Serrana establish their ethics committees, and develop, communicate and implement their codes of ethical conduct. Data collection was performed with Qualtrics, and content analysis technique was used to analyze a script of open questions based on a qualitative approach. Data collection revealed that participants are aware of the importance of a code of ethics. However, based on the participants’ answers, it is noticeable that the establishment of a committee and the methodology employed to develop a code of ethics are not given the importance they deserve. ARH Serrana not only can convene management professionals but also could serve as a resource for developing the committees as well as the methodologies for establishing the code of ethics thus facilitating the organization’s ethical behavior.
Citação ABNT:
GOMES, T.; BEUREN, I. M.; VICENTE, E. F. R. Influence of the Characteristics of the Board of Directors on the Performance of Companies with Board Interlocking. Revista de Administração da UFSM, v. 12, n. 4, p. 645-662, 2019.
Citação APA:
Gomes, T., Beuren, I. M., & Vicente, E. F. R. (2019). Influence of the Characteristics of the Board of Directors on the Performance of Companies with Board Interlocking. Revista de Administração da UFSM, 12(4), 645-662.
Link Permanente:
Tipo de documento:
AIER, J. K.; COMPRIX, J.; GUNLOCK, M. T.; LEE, D. The financial expertise of CFOs and accounting restatements. Accounting Horizons, v. 19, n. 3, p. 123-135, 2005.

ALLEN, M. P. The structure of interorganizational elite cooptation: Interlocking corporate directorates. American Sociological Review, v. 39, n. 3, p. 393-406, 1974.

BAYSINGER, B. D.; BUTLER, H. N. Corporate governance and the board of directors: Performance effects of changes in board composition. Journal of Law, Economics, & Organization, v. 1, n. 1, p. 101-124, 1985.

BEUREN, I. M.; DAL VESCO. Influência da composição do Conselho de Administração e do Board Interlocking no desempenho de empresas. In: EnANPAD, 36., 2014, Rio de Janeiro. Anais... Rio de Janeiro, ANPAD, 2014.

BEUREN, I. M.; DANI, A. C.; BECK, F. Relação entre as práticas do board interlocking e características de empresas de estrutura de propriedade familiar com ações mais negociadas na BM&FBovespa. RECADM: Revista Eletrônica de Ciência Administrativa, v. 13, n. 3, p. 339-355, 2014.

BEZEMER, P. J.; PEIJ, S. C.; MAASSEN, G. F.; VAN HALDER, H. The changing role of the supervisory board chairman: the case of the Netherlands (1997–2007). Journal of Management & Governance, v. 16, n. 1, p. 37-55, 2012.

BORGATTI, S. P.; FOSTER, P. C. The network paradigm in organizational research: A review and typology. Journal of Management, v. 29, n. 6, p. 991-1013, 2003.

BURT, R. S. A structural theory of interlocking corporate directorates. Social Networks, v. 1, n. 4, p. 415-435, 1979.

BURT, R. S. Cooptive corporate actor networks: A reconsideration of interlocking directorates involving American manufacturing. Administrative Science Quarterly, v. 25, n. 4, p. 557-582, 1980.

DAL VESCO, D. G.; BEUREN, I. M. Do the Board of Directors composition and the Board Interlocking influence on performance? BAR. Brazilian Administration Review, v. 13, n. 2, p. 2-26, 2016..

DOOLEY, P. C. The interlocking directorate. The American Economic Review, v. 59, n. 3, p. 314323, 1969.

FARRELL, K. A.; WHIDBEE, D. A. Impact of firm performance expectations on CEO turnover and replacement decisions. Journal of Accounting and Economics, v. 36, n. 1, p. 165-196, 2003.

FÁVERO, L. P.; BELFIORE, P.; SILVA, F. D.; CHAN, B. L. Análise de dados: Modelagem multivariada para tomada de decisões. Rio de Janeiro: Campus, 2009.

FÁVERO, L.P. Análise de dados. Rio de Janeiro: Elsevier, 2015.

FICH, E. M.; SHIVDASANI, A. Are busy boards effective monitors? The Journal of Finance, v. 62, n. 2, p. 689-724, 2006.

FICH, E. M.; WHITE, L. J. Why do CEOs reciprocally sit on each other’s boards? Journal of Corporate Finance, v. 11, n. 1, p. 175-195, 2001.

GOMPERS, P. A.; ISHII, J. L.; METRICK, A. Corporate governance and equity prices. National Bureau of Economic Research, No. w8449, 2003. Disponível em: . Acesso em: 13 jul. 2016.

GUERRA, S. Os papéis do conselho de admnistração em empresas listadas no Brasil. Publicação Trimestral do Instituto Brasileiro de Governança Corporativa, n. 49, p. 17-20, 2010.

HALLOCK, K. F. Dual agency: corporate boards with reciprocally interlocking relationships. In CARPENTER, J.; YERMACK, D. (eds.). Executive compensation and shareholder value: Theory and evidence. Boston, MA: Kluwer Academic Publishers, 1999. pp. 55-75.

HAUNSCHILD, P. R. Interorganizational imitation: The impact of interlocks on corporate acquisition activity. Administrative Science Quarterly, v. 38, n. 4, p. 564-592, 1993.

KONO, C.; PALMER, D.; FRIEDLAND, R.; ZAFONTE, M. Lost in space: the geography of corporate interlocking directorates. American Journal of Sociology, v. 103, n. 4, p. 863-911, 1998.

LEAL, R. P.; OLIVEIRA, C. L. An evaluation of board practices in Brazil. Corporate Governance: The International Journal of Business in Society, v. 2, n. 3, p. 21-25, 2002.

MENDES-DA-SILVA, W. Small worlds and board interlocking in Brazil: A longitudinal study of corporate networks, 1997-2007. Brazilian Finance Review, v. 4, n. 4, p. 521-548, 2011.

MENDES-DA-SILVA, W.; ROSSONI, L.; MARTIN, D. M. L.; MARTELANC, R. A influência das redes de relações corporativas no desempenho das empresas do novo mercado da Bovespa. Revista Brasileira de Finanças, v. 6, n. 3, p. 337-358, 2008.

MIZRUCHI, M. S. Análise de redes sociais: avanços recentes e controvérsias atuais. Revista de Administração de Empresas, v. 46, n. 3, p. 72-86, 2006.

MIZRUCHI, M. S. Who controls whom? An examination of the relation between management and boards of directors in large American corporations. Academy of Management Review, v. 8, n. 3, p. 426-435, 1983.

NAWFAL, W. Interlocking directors: impact on Canadian merger and acquisition outcomes. Dissertation (Doctoral in Finance) Concordia University Montreal, Quebec, Canada, 2011.

ONG, C. H.; WAN, T. W. D. Board structure, board process and board performance: A review & research agenda. Journal of Comparative International Management, v. 4, n. 1, p. 1-25, 2001.

PFEFFER, J. Size and composition of corporate boards of directors: The organization and its environment. Administrative Science Quarterly, v. 17, n. 2, p. 218-228, 1972.

PICCOLI, M. R.; CUNHA, P. R. Relação entre o board interlocking e o gerenciamento de resultados. In: Congresso ANPCONT, 9., 2015, Curitiba. Anais... São Paulo: ANPCONT, 2015.

RINDOVA, V. P. What corporate boards have to do with strategy: A cognitive perspective. Journal of Management Studies, v. 36, n. 7, p. 953-975, 1999.

ROSSONI, L.; MACHADO-DA-SILVA, C. L.. Legitimidade, governança corporativa e desempenho: análise das empresas da BM&FBovespa. Revista de Administração de Empresas, v. 53, n. 3, p. 272-289, 2013.

SANTOS, R. L.; SILVEIRA, A. D. M. Board interlocking no Brasil: a participação de conselheiros em múltiplas companhias e seu efeito sobre o valor das empresas. Revista Brasileira de Finanças, v. 5, n. 2, p. 125-163.

SANTOS, T. A.; BUCCINI, A. R. A.; NOGUEIRA, J. A. G. S. M.; BARBOSA, D. M. S. Governança Corporativa, Conselho de Administração e Redes de Empresas. Revista FSA (Faculdade Santo Agostinho), v. 13, n. 2, p. 03-23, 2016.

SHROPSHIRE, C. The role of the interlocking director and board receptivity in the diffusion of practices. Academy of Management Review, v. 35, n. 2, p. 246-264, 2010.

SLOAN, R. G. Financial accounting and corporate governance: a discussion. Journal of Accounting and Economics, v. 32, n. 1, p. 335-347, 2001.

Stokman, F. N., Van der Knoop, J., & Wasseur, F. W. (1988). Interlocks in the Netherlands: stability and careers in the period 1960–1980. Social Networks, 10(2), 183-208.

WAHBA, H. The joint effect of board characteristics on financial performance: Empirical evidence from Egypt. Review of Accounting and Finance, v. 14, n. 1, p. 20-40, 2015.