Conexiones sociales y rotación involuntaria del CEO: evidencias del mercado brasileño
DOI:
https://doi.org/10.5007/2175-8069.2021.e76116Resumen
Este estudio tuvo como objetivo investigar si las conexiones sociales entre los miembros de la Junta de Directores y Chief Executive Officer (CEO) disminuyen la probabilidad de reemplazo involuntario del CEO en el contexto brasileño. A partir de los datos del Formulario de Referência entre 2012 y 2018 de las empresas que cotizan en la Bolsa Brasil Balcão [B]3, se desarrolló un Índice de Conexión Social (ICS). Los resultados de la regresión logística indican que la probabilidad de reemplazo involuntario del CEO disminuye con las conexiones sociales, consistente con estudios previos. El resultado se mantuvo incluso en presencia de indicadores de gobierno corporativo y características estructurales de la Junta de Directores. Los resultados muestran que las conexiones sociales inciden en el seguimiento de la Junta en términos de facturación, así como el análisis agregado de los datos a través del ICS propuesto capta mejor este efecto, en el mercado nacional.
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