Corporate governance practices adopted by agribusiness companies listed on the Brazil stock exchange (B3)

Authors

DOI:

https://doi.org/10.24302/agora.v29.5142

Abstract

This study aimed to identify the main corporate governance practices adopted by agribusiness companies listed on the Brazil Stock Exchange (B3) in 2021. The sample comprised 32 companies in the sector, subdivided into primary (15), agri-services (12), and agro-industry (5). Adherence to the 54 practices recommended by B3's Governance Code was analyzed. The agri-services segment showed the highest average adoption rate (65%), followed by agro-industry (53%) and primary (51%). The company with the highest compliance achieved 89% implementation of the recommendations. By mapping in detail the most adopted practices, such as the separation of the roles of chairman and CEO (84%), and less observed ones, such as the limitation of shareholder agreements (13%), the research contributes to fostering improvements and greater engagement of the sector with the principles of equity, transparency, and corporate responsibility advocated by best governance practices. Its main contribution lies in highlighting the current stage of adoption of these practices by agribusiness companies, a sector of high economic importance and socio-environmental impact, allowing investors, civil society, and regulatory bodies to assess the real commitment to corporate governance and the adoption of ethical and sustainable conduct.

Keywords: Agribusiness Services. Agribusiness Industries. Novo Mercado. Stock Exchange. Sustainability.

Author Biographies

Éverton Rodrigues Lavi, Universidade Federal do Rio Grande do Sul (UFRGS)

Graduado em Ciências Contábeis. Universidade Federal do Rio Grande do Sul (UFRGS). Porto Alegre. Rio Grande do Sul. Brasil.

Leticia Medeiros da Silva, Universidade Federal do Rio Grande do Sul (UFRGS)

Professora da Faculdade de Ciências Econômicas (FCE), Departamento de Ciências Contábeis e Atuariais (DCCA) da Universidade Federal do Rio Grande do Sul (UFRGS). Mestre em Ciências Contábeis pela UNISINOS, área de concentração Controladoria e Finanças (2007). Doutorado na mesma instituição (2019), com titulação revalidada em Portugal (2020). Atua nas linhas de pesquisa de Disclosure, Governança Corporativa, Compliance e Auditoria. Possui experiência profissional na área contábil e auditoria independente.

Arthur Frederico Lerner, Universidade Federal de Santa Catarina (UFSC)

My main profile is Growth Seeker, deeply curious in wide and varied subjects, controlled under pressure, adaptive to changes, always looking for challenges and in constant learning. I'm currently doing a PhD in Accounting, I have a YouTube channel about Finance, Investments and Accounting, I specialize in Income Tax for investors, and I'm always looking to update myself on the market and technologies. I have already worked in controllership and external auditing in Big Four and small companies, I developed teaching activities during the master's degree in Accounting and I have knowledge in Accounting, Auditing, Data Analysis and Capital Markets. I love learning and teaching, especially in Finance, Technology and Data Science. I'm currently looking to improve myself in the area of data analysis.

Most of my articles/projects as a resercher in accouting can be found at: https://scholar.google.com.br/citations?user=QJyKPWMAAAAJ&hl=pt-BR

My Youtube Channel: https://www.youtube.com/c/ArthurLerner

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Published

2024-05-21

How to Cite

Lavi, Éverton R., Silva, L. M. da, & Lerner, A. F. (2024). Corporate governance practices adopted by agribusiness companies listed on the Brazil stock exchange (B3). Ágora : Revista De divulgação científica, 29, 101–123. https://doi.org/10.24302/agora.v29.5142

Issue

Vol. 29 (2024)

Section

Artigos

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Copyright (c) 2024 Ágora : revista de divulgação científica

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