BOARD OF DIRECTORS AND AUDIT COMMITTEE CHARACTERISTICS OF LISTED COMPANIES ON THE BM&FBOVESPA

Authors

  • Marilbeth Carolina Rodríguez Reyes Universidade Regional de Blumenau - FURB
  • Paulo Roberto da Cunha
  • Moacir Manoel Rodrigues Junior
  • Bianca Cecon

DOI:

https://doi.org/10.21680/2176-9036.2018v10n2ID11033

Keywords:

Board of Directors. Audit Committee. Size. Independence. Expertise

Abstract

This quantitative descriptive study aimed to verify board of directors and audit committee characteristics of companies listed on the BM&FBovespa, using a documentary data collection method. The sample was composed of 1620 boards of directors and 399 audit committees. Data on board of directors and audit committee characteristics were collected from the Reference Form on the website of the BM&FBovespa. These data were analysed using descriptive statistics and factor analysis. It was found that, on average, the boards have between 6 and 12 members, majority of independent members and from 3 to 8 members with expertise. Duality, that happens when the president of a company is also the head of its board of directors, was observed in 21.23% of all boards. Audit committees are composed on average by 3 or 4 members, majority of independent members and at least one member with expertise in accounting, auditing and finance. We concluded that the higher the board size, composed of more independent members with expertise, the lower the possibility of duality. Furthermore, the results indicate that the size of the audit committee is positively related to the number of members with expertise.

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Published

15-06-2018

How to Cite

REYES, M. C. R.; CUNHA, P. R. da; RODRIGUES JUNIOR, M. M.; CECON, B. BOARD OF DIRECTORS AND AUDIT COMMITTEE CHARACTERISTICS OF LISTED COMPANIES ON THE BM&FBOVESPA. REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte, [S. l.], v. 10, n. 2, p. 404–422, 2018. DOI: 10.21680/2176-9036.2018v10n2ID11033. Disponível em: https://periodicos.ufrn.br/ambiente/article/view/11033. Acesso em: 23 jul. 2024.

Issue

Vol. 10 No. 2 (2018): Jul./Dez.

Section

ARTICLES

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