COMPOSIÇÃO DO CONSELHO DE ADMINISTRAÇÃO E PAGAMENTO DE DIVIDENDOS
O PAPEL DA DIVERSIDADE DE GÊNERO E DA IDADE DOS MEMBROS DO CONSELHO
DOI:
https://doi.org/10.51320/rmc.v25i2.1564Palabras clave:
Dividendos, Diversidade, Conselho de Administração, IdadeResumen
O objetivo do presente estudo foi investigar como características do Conselho de administração (CA) das empresas de capital aberto no Brasil - presença de mulheres no CA e idade dos membros do CA – se relacionam com a distribuição de dividendos. Os dados financeiros foram coletados no Banco de Dados Economática e os dados sobre o CA foram coletados no site da Comissão de Valores Mobiliários (CVM). Para o teste das hipóteses, foi utilizada a análise de dados em painel, com dados de 222 empresas no período de 2017 a 2021. Os resultados não indicaram efeito significante em relação à presença de mulheres no CA e distribuição de dividendos. Observou-se também que a idade dos membros do CA apresentou relação significante e positiva em relação aos dividendos, particularmente para membros do CA que possuem idade entre quarenta e cinquenta anos. O presente estudo contribui para a literatura de Governança Corporativa, especificamente no que tange à presença de mulheres no CA, bem como heterogeneidade de idade dos membros do CA, tendo em vista que a maioria dos estudos com essa temática são realizados em países desenvolvidos. Ademais, o trabalho possui a contribuição prática de auxiliar investidores focados em dividendos a tomarem decisões mais assertivas.
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Derechos de autor 2024 Fonseca Machado Beling Dias, Rodrigo Fernandes Malaquias, José Eduardo Ferreira Lopes
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