CORRELATION BEWEEN GOVERNANCE CORPORATE AND COMPETITIVE ADVANTAGE: A STUDY OF LISTED COMPANIES OF BM&FBOVESPA HOLDING.
Canonical Correlation. Corporate governance. Competitive advantage.
Corporate Governance as a steering system, monitoring and incentives of organizations, involving owners, Board of Directors, Executive Board and supervisory bodies. Its basic principles are transparency, fairness, accountability and corporate responsibility and are intended to preserve and optimize organizational value, facilitating access to resources and provide greater longevity of the organization. Due to several cases of financial scandals in the 1980s in the United States and Europe, various measures have been taken to create a corporate governance environment with greater responsibilities and sanctions administrators. In Brazil, mainly from the 1990s the theme corporate governance importance, giving rise to several studies in the area. Several studies have sought the relationship between the adoption of corporate governance practices and superior performance of organizations. If the adoption of such practices to take a sustainable superior performance, we can understand how to create competitive advantage of value to these organizations. This paper investigates whether the corporate governance structure was relevant to superior financial performance, relating the corporate governance variables relating to Ownership Structure the Board of Directors with economic and financial performance indices.