Iberoamerican Journal of Corporate Governance https://rgc.org.br/Journals <p style="text-align: justify;">The <strong>Iberoamerican Journal of Corporate Governance (IJCG) </strong>enables companies to achieve good governance by presenting the latest research (especially emerging countries), laws and guidelines on corporate governance. Editorial cooperation with the Warsaw University of Life Sciences (Poland) is arranged through the Department of Management Institute and Editora Alumni in.</p> <p style="text-align: justify;">Through research articles, conceptual papers, case studies and reports the journal combines the theory and practices of corporate governance from across the world to cater to the interests of practitioners, academics, researchers and policy makers. The journal focuses on bringing out the best in corporate governance practices, strengthen board rooms and increasing effectiveness of corporate boards. Its articles on corporate social responsibility and sustainability reporting highlight how and whether interests of all stakeholders including society is being addressed.</p> <p style="text-align: justify;"><strong>The journal covers a wide range of corporate governance issues including</strong></p> <p style="text-align: justify;">· Board composition and practices, <br />· Board Diversity<br />· Board Performance and Evaluation<br />· Independent directors<br />· Regulatory requirements<br />· Internal Control , fraud prevention and risk management<br />· Whistle blower policies<br />· Shareholder activism and role of Institutional Investors<br />· Media’s role in corporate governance,<br />· SME governance<br />· Not-for – Profit Governance<br />· Latin American Governance<br />· Disclosure and reporting<br />· Corporate Ethics and Self Governance<br />· Corporate social responsibility<br />· Sustainability</p> Revista de Governanca Corporativa en-US Iberoamerican Journal of Corporate Governance 2764-7323 <p><strong>Authors who publish with this journal agree to the following terms:</strong></p> <p>1. Authors who publish in this journal agree to the following terms: the author(s) authorize(s) the publication of the text in the journal;</p> <p>2. The author(s) ensure(s) that the contribution is original and unpublished and that it is not in the process of evaluation by another journal;</p> <p>3. The journal is not responsible for the views, ideas and concepts presented in articles, and these are the sole responsibility of the author(s);</p> <p>4. The publishers reserve the right to make textual adjustments and adapt texts to meet with publication standards.</p> <p>5. Authors retain copyright and grant the journal the right to first publication, with the work simultaneously licensed under the <strong>Creative Commons Atribuição NãoComercial 4.0 internacional</strong>, which allows the work to be shared with recognized authorship and initial publication in this journal.</p> <p>6. Authors are allowed to assume additional contracts separately, for non-exclusive distribution of the version of the work published in this journal (e.g. publish in institutional repository or as a book chapter), with recognition of authorship and initial publication in this journal.</p> <p>7. Authors are allowed and are encouraged to publish and distribute their work online (e.g. in institutional repositories or on a personal web page) at any point before or during the editorial process, as this can generate positive effects, as well as increase the impact and citations of the published work (see the effect of Free Access) at <a href="http://opcit.eprints.org/oacitation-biblio.html">http://opcit.eprints.org/oacitation-biblio.html</a></p> <p>• 8. Authors are able to use <a href="http://orcid.org/">ORCID</a> is a system of identification for authors. An ORCID identifier is unique to an individual and acts as a persistent digital identifier to ensure that authors (particularly those with relatively common names) can be distinguished and their work properly attributed.</p> Environmental, Social and Governance (ESG): Mapping and Clusters Analysis https://rgc.org.br/Journals/article/view/120 <p><strong>Objective:</strong> The aim of this study was to map and analyze the main basic and frontier theoretical currents about international research in Environmental, Social and Governance (ESG). Additionally, we also analyzed which authors, journals and countries are most active in international ESG research.</p> <p><strong>Method:</strong> We performed a bibliometric analysis focused on co-citation and bibliographic coupling analysis, with exploratory factor analysis techniques and graphic mapping through clustering. Our sample included 405 articles published until December 2021 and indexed in the Web of Science database.</p> <p><strong>Results:</strong> Through co-citation analysis, we identified 5 research streams, being a) Influence of Organizational Theories on ESG; b) Organizational competitiveness; c) Impact of ESG on financial performance; d) Corporate Social Responsibility; and e) Stakeholder Theory. Through the pairing analysis, we identified 6 theoretical frontier currents, namely: a) sustainable investments; b) Transparency and administrative council; c) Effects of ESG; d) Relationships between financial performance and corporate social performance; e) Relationship between shareholders and ESG; and f) Risks and ESG.</p> <p><strong>Originality:</strong> As far as we know, this is the most complete bibliometric study on ESG research, covering both basic and frontier theoretical currents.</p> <p><strong>Theoretical/methodological contributions</strong>: We identify in this work 5 theoretical currents that helped to found and develop ESG research as a scientific (historical) field and point out 6 emerging theoretical currents that help to understand where ESG research is advancing today (border).</p> Thiago de Luca Ribeiro Anderson Antônio de Lima Copyright (c) 2022 Thiago de Luca Ribeiro, Anderson Antônio de Lima 2022-07-25 2022-07-25 9 1 e0120 e0120 10.21434/IberoamericanJCG.v9i1.120 Metagovernance and Democratic Legitimacy: a theoretical essay in light of non-market approaches https://rgc.org.br/Journals/article/view/116 <p><span id="page3R_mcid36" class="markedContent"><strong><span dir="ltr" style="left: 366.283px; top: 613.697px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.00977);" role="presentation">Purpose</span> <span dir="ltr" style="left: 439.027px; top: 613.697px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.1268);" role="presentation">of</span> <span dir="ltr" style="left: 467.198px; top: 613.697px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.12292);" role="presentation">the</span> <span dir="ltr" style="left: 505.181px; top: 613.697px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.08713);" role="presentation">study:</span></strong> <span dir="ltr" style="left: 564.517px; top: 613.697px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(0.970641);" role="presentation">The</span> <span dir="ltr" style="left: 604.301px; top: 613.697px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.02431);" role="presentation">aim</span> <span dir="ltr" style="left: 643.659px; top: 613.697px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.0824);" role="presentation">of</span> <span dir="ltr" style="left: 671.246px; top: 613.697px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.04826);" role="presentation">this</span> <span dir="ltr" style="left: 710.398px; top: 613.697px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.00157);" role="presentation">study</span> <span dir="ltr" style="left: 761.574px; top: 613.697px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(0.945232);" role="presentation">is</span> <span dir="ltr" style="left: 785.748px; top: 613.697px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.1148);" role="presentation">to</span> <span dir="ltr" style="left: 813.73px; top: 613.697px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.02016);" role="presentation">demonstrate</span> <span dir="ltr" style="left: 916.667px; top: 613.697px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.00254);" role="presentation">why </span><span dir="ltr" style="left: 366.283px; top: 633.497px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(0.99728);" role="presentation">metagovernance</span> <span dir="ltr" style="left: 493.205px; top: 633.497px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(0.961839);" role="presentation">is</span> <span dir="ltr" style="left: 513.776px; top: 633.497px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.05957);" role="presentation">not</span> <span dir="ltr" style="left: 546.751px; top: 633.497px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.09268);" role="presentation">effective</span> <span dir="ltr" style="left: 620.284px; top: 633.497px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.07389);" role="presentation">in</span> <span dir="ltr" style="left: 643.052px; top: 633.497px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(0.995389);" role="presentation">increasing</span> <span dir="ltr" style="left: 724.359px; top: 633.497px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.06749);" role="presentation">the</span> <span dir="ltr" style="left: 757.333px; top: 633.497px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.03757);" role="presentation">democratic</span> <span dir="ltr" style="left: 847.062px; top: 633.497px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.04943);" role="presentation">legitimacy</span> <span dir="ltr" style="left: 930.359px; top: 633.497px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.0824);" role="presentation">of </span><span dir="ltr" style="left: 366.283px; top: 653.497px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.11);" role="presentation">networks; to this end, an articulated map will be presented to describe</span> <span dir="ltr" style="left: 916.367px; top: 653.497px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(0.992156);" role="presentation">how </span><span dir="ltr" style="left: 366.283px; top: 673.297px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.03291);" role="presentation">interactions occur within metagoverned environments.</span></span><span id="page3R_mcid37" class="markedContent"></span></p> <p><span id="page3R_mcid37" class="markedContent"><strong><span dir="ltr" style="left: 366.283px; top: 693.097px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.05328);" role="presentation">Methodology/approach:</span></strong> <span dir="ltr" style="left: 555.317px; top: 693.097px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.07112);" role="presentation">To</span> <span dir="ltr" style="left: 588.086px; top: 693.097px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.03676);" role="presentation">construct</span> <span dir="ltr" style="left: 669.424px; top: 693.097px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.06749);" role="presentation">the</span> <span dir="ltr" style="left: 707.803px; top: 693.097px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.00271);" role="presentation">macro</span><span dir="ltr" style="left: 751.967px; top: 693.097px; font-size: 15.8px; font-family: sans-serif;" role="presentation">-</span><span dir="ltr" style="left: 757.967px; top: 693.097px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.01446);" role="presentation">model</span> <span dir="ltr" style="left: 816.522px; top: 693.097px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.0824);" role="presentation">of</span> <span dir="ltr" style="left: 845.704px; top: 693.097px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(0.991698);" role="presentation">analysis,</span> <span dir="ltr" style="left: 921.655px; top: 693.097px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.06749);" role="presentation">the </span><span dir="ltr" style="left: 366.283px; top: 712.897px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.06259);" role="presentation">methodology of Quivy and Campenhoudt (2005) was used. To consolidate the </span><span dir="ltr" style="left: 366.283px; top: 732.73px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.08997);" role="presentation">knowledge involved in the theoretical approach, the Knowl</span><span dir="ltr" style="left: 809.767px; top: 732.73px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.02104);" role="presentation">edge Development </span><span dir="ltr" style="left: 366.283px; top: 752.73px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(0.921974);" role="presentation">Process</span><span dir="ltr" style="left: 418.883px; top: 752.73px; font-size: 15.8px; font-family: sans-serif;" role="presentation">-</span><span dir="ltr" style="left: 424.683px; top: 752.73px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.02722);" role="presentation">Constructivist (Proknow</span><span dir="ltr" style="left: 595.317px; top: 752.73px; font-size: 15.8px; font-family: sans-serif;" role="presentation">-</span><span dir="ltr" style="left: 601.117px; top: 752.73px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.03045);" role="presentation">C) method by Ensslin, Dutra and Ensslin (2000)</span><br role="presentation" /><span dir="ltr" style="left: 366.283px; top: 772.53px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.0798);" role="presentation">was used. Such a proposal allowed a multidisciplinary perspective, capturing </span><span dir="ltr" style="left: 366.283px; top: 792.33px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.0556);" role="presentation">important concepts from economics and organizational theory to apply them to </span><span dir="ltr" style="left: 366.283px; top: 812.13px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.03537);" role="presentation">the me</span><span dir="ltr" style="left: 416.283px; top: 812.13px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.10088);" role="presentation">ta</span><span dir="ltr" style="left: 430.883px; top: 812.13px; font-size: 15.8px; font-family: sans-serif;" role="presentation">-</span><span dir="ltr" style="left: 436.683px; top: 812.13px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.02174);" role="presentation">governed environment.</span></span><span id="page3R_mcid38" class="markedContent"><br role="presentation" /></span></p> <p><span id="page3R_mcid38" class="markedContent"><strong><span dir="ltr" style="left: 366.283px; top: 831.931px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.0718);" role="presentation">Originality/Relevance:</span></strong> <span dir="ltr" style="left: 537.117px; top: 831.931px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.01711);" role="presentation">Metagovernance systems suggest some ability to provide </span><span dir="ltr" style="left: 366.283px; top: 851.931px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.0643);" role="presentation">democratic plurality to a social environment, in that we need to understand "if" </span><span dir="ltr" style="left: 366.283px; top: 871.73px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.1017);" role="presentation">and "how" this applies; metagovernance is recent in academia and is und</span><span dir="ltr" style="left: 930.567px; top: 871.73px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.05033);" role="presentation">er </span><span dir="ltr" style="left: 366.283px; top: 891.53px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(0.977518);" role="presentation">discussion;</span> <span dir="ltr" style="left: 452.63px; top: 891.53px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.00823);" role="presentation">we</span> <span dir="ltr" style="left: 483.014px; top: 891.53px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(0.984877);" role="presentation">need</span> <span dir="ltr" style="left: 527.807px; top: 891.53px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.1148);" role="presentation">to</span> <span dir="ltr" style="left: 552.392px; top: 891.53px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.00698);" role="presentation">understand</span> <span dir="ltr" style="left: 641.93px; top: 891.53px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.087);" role="presentation">its</span> <span dir="ltr" style="left: 669.09px; top: 891.53px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.0536);" role="presentation">impact</span> <span dir="ltr" style="left: 728.024px; top: 891.53px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.07389);" role="presentation">in</span> <span dir="ltr" style="left: 751.187px; top: 891.53px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.01973);" role="presentation">countries</span> <span dir="ltr" style="left: 826.522px; top: 891.53px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.1105);" role="presentation">with</span> <span dir="ltr" style="left: 867.681px; top: 891.53px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.00672);" role="presentation">developing </span><span dir="ltr" style="left: 366.283px; top: 911.33px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.05372);" role="presentation">institutional environments.</span></span><span id="page3R_mcid39" class="markedContent"><br role="presentation" /></span></p> <p><span id="page3R_mcid39" class="markedContent"><strong><span dir="ltr" style="left: 366.283px; top: 931.13px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.00025);" role="presentation">Key</span> <span dir="ltr" style="left: 404.456px; top: 931.13px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.08684);" role="presentation">findings:</span></strong> <span dir="ltr" style="left: 479.483px; top: 931.13px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(0.983986);" role="presentation">Metagoverned</span> <span dir="ltr" style="left: 589.831px; top: 931.13px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(0.949091);" role="presentation">systems</span> <span dir="ltr" style="left: 655.796px; top: 931.13px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.02446);" role="presentation">involve</span> <span dir="ltr" style="left: 717.163px; top: 931.13px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.0899);" role="presentation">multiple</span> <span dir="ltr" style="left: 787.489px; top: 931.13px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.02255);" role="presentation">players;</span> <span dir="ltr" style="left: 855.034px; top: 931.13px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.13665);" role="presentation">difficulty</span> <span dir="ltr" style="left: 930.573px; top: 931.13px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.0824);" role="presentation">of </span><span dir="ltr" style="left: 366.283px; top: 951.13px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.0267);" role="presentation">reconciliation raises transaction costs, both ex</span><span dir="ltr" style="left: 697.517px; top: 951.13px; font-size: 15.8px; font-family: sans-serif;" role="presentation">-</span><span dir="ltr" style="left: 703.317px; top: 951.13px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.04054);" role="presentation">ante</span> <span dir="ltr" style="left: 739.967px; top: 951.13px; font-size: 15.8px; font-family: sans-serif;" role="presentation">-</span> <span dir="ltr" style="left: 750.567px; top: 951.13px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(0.9765);" role="presentation">to achieve consensus</span> <span dir="ltr" style="left: 903.567px; top: 951.13px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.07601);" role="presentation">in the </span><span dir="ltr" style="left: 366.283px; top: 970.931px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.04397);" role="presentation">network</span> <span dir="ltr" style="left: 427.683px; top: 970.931px; font-size: 15.8px; font-family: sans-serif;" role="presentation">-</span> <span dir="ltr" style="left: 437.283px; top: 970.931px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(0.968326);" role="presentation">and ex</span><span dir="ltr" style="left: 483.283px; top: 970.931px; font-size: 15.8px; font-family: sans-serif;" role="presentation">-</span><span dir="ltr" style="left: 489.083px; top: 970.931px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.00675);" role="presentation">post</span> <span dir="ltr" style="left: 522.717px; top: 970.931px; font-size: 15.8px; font-family: sans-serif;" role="presentation">-</span> <span dir="ltr" style="left: 532.317px; top: 970.931px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.0082);" role="presentation">when creating mechanisms to deal with disgruntled actors. </span><span dir="ltr" style="left: 366.283px; top: 990.73px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.03011);" role="presentation">Such a scenario leads key players to effect coalitions to 'narrow the road' to their </span><span dir="ltr" style="left: 366.283px; top: 1010.53px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.12799);" role="presentation">own interests, and practice corporate political activity seeking to influence </span><span dir="ltr" style="left: 366.283px; top: 1030.38px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(0.990762);" role="presentation">dec</span><span dir="ltr" style="left: 391.483px; top: 1030.38px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.04448);" role="presentation">ision making. Actions will focus on impacting the public agent designated as </span><span dir="ltr" style="left: 366.283px; top: 1050.38px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.03329);" role="presentation">metagovernor,</span> <span dir="ltr" style="left: 482.003px; top: 1050.38px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.07389);" role="presentation">in</span> <span dir="ltr" style="left: 506.572px; top: 1050.38px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.0341);" role="presentation">order</span> <span dir="ltr" style="left: 556.136px; top: 1050.38px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.1292);" role="presentation">to</span> <span dir="ltr" style="left: 582.317px; top: 1050.38px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.0432);" role="presentation">influence</span> <span dir="ltr" style="left: 659.658px; top: 1050.38px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(0.979618);" role="presentation">possible</span> <span dir="ltr" style="left: 727.819px; top: 1050.38px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(0.947206);" role="presentation">changes</span> <span dir="ltr" style="left: 795.759px; top: 1050.38px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.07389);" role="presentation">in</span> <span dir="ltr" style="left: 820.328px; top: 1050.38px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.06749);" role="presentation">the</span> <span dir="ltr" style="left: 855.104px; top: 1050.38px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.03051);" role="presentation">environment </span><span dir="ltr" style="left: 366.283px; top: 1070.18px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.06233);" role="presentation">(regulation).</span></span><span id="page3R_mcid40" class="markedContent"></span></p> <p><span id="page3R_mcid40" class="markedContent"><strong><span dir="ltr" style="left: 366.283px; top: 1089.98px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.08115);" role="presentation">Theoretical/methodological</span> <span dir="ltr" style="left: 584.687px; top: 1089.98px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.11416);" role="presentation">contributions:</span></strong> <span dir="ltr" style="left: 703.917px; top: 1089.98px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(0.932459);" role="presentation">An</span> <span dir="ltr" style="left: 735.88px; top: 1089.98px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.072);" role="presentation">articulated</span> <span dir="ltr" style="left: 828.184px; top: 1089.98px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(0.9881);" role="presentation">map</span> <span dir="ltr" style="left: 872.74px; top: 1089.98px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(0.91822);" role="presentation">has</span> <span dir="ltr" style="left: 910.312px; top: 1089.98px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(0.986226);" role="presentation">been </span><span dir="ltr" style="left: 366.283px; top: 1109.78px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(0.99928);" role="presentation">proposed,</span> <span dir="ltr" style="left: 451.651px; top: 1109.78px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.01011);" role="presentation">presenting</span> <span dir="ltr" style="left: 541.189px; top: 1109.78px; font-size: 15.8px; font-family: sans-serif;" role="presentation">t</span><span dir="ltr" style="left: 547.717px; top: 1109.78px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(0.981279);" role="presentation">he</span> <span dir="ltr" style="left: 580.075px; top: 1109.78px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.01691);" role="presentation">cycle</span> <span dir="ltr" style="left: 631.852px; top: 1109.78px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.0824);" role="presentation">of</span> <span dir="ltr" style="left: 661.034px; top: 1109.78px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.04912);" role="presentation">interactions</span> <span dir="ltr" style="left: 760.938px; top: 1109.78px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.09857);" role="presentation">within</span> <span dir="ltr" style="left: 820.283px; top: 1109.78px; font-size: 15.8px; font-family: sans-serif;" role="presentation">a</span> <span dir="ltr" style="left: 843.651px; top: 1109.78px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.00354);" role="presentation">metagoverned </span><span dir="ltr" style="left: 366.283px; top: 1129.58px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.10548);" role="presentation">environment. It shows that sometimes the decisions taken are not the most </span><span dir="ltr" style="left: 366.283px; top: 1149.58px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.04639);" role="presentation">democratic ones, but those of interest to coalitions.</span></span><span id="page3R_mcid41" class="markedContent"></span></p> <p><span id="page3R_mcid41" class="markedContent"><strong><span dir="ltr" style="left: 366.283px; top: 1169.38px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.12886);" role="presentation">Social contributions / to management:</span> </strong><span dir="ltr" style="left: 673.717px; top: 1169.38px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.11885);" role="presentation">From a legitimacy perspective, it is </span><span dir="ltr" style="left: 366.283px; top: 1189.18px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(0.927165);" role="presentation">necess</span><span dir="ltr" style="left: 412.683px; top: 1189.18px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.09392);" role="presentation">ary to understand how the outcome of networked decision</span><span dir="ltr" style="left: 855.767px; top: 1189.18px; font-size: 15.8px; font-family: sans-serif;" role="presentation">-</span><span dir="ltr" style="left: 861.567px; top: 1189.18px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.03425);" role="presentation">making can </span><span dir="ltr" style="left: 366.283px; top: 1208.98px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.00752);" role="presentation">become more democratic, and how metagoverned environments can become less </span><span dir="ltr" style="left: 366.283px; top: 1228.77px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.00438);" role="presentation">susceptible</span> <span dir="ltr" style="left: 456.027px; top: 1228.77px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.1292);" role="presentation">to</span> <span dir="ltr" style="left: 481.007px; top: 1228.77px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.05147);" role="presentation">harmful</span> <span dir="ltr" style="left: 546.719px; top: 1228.77px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.03631);" role="presentation">corporate</span> <span dir="ltr" style="left: 626.051px; top: 1228.77px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.1039);" role="presentation">political</span> <span dir="ltr" style="left: 694.355px; top: 1228.77px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.14803);" role="presentation">activity,</span> <span dir="ltr" style="left: 763.669px; top: 1228.77px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.01381);" role="presentation">especially</span> <span dir="ltr" style="left: 844.202px; top: 1228.77px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.07389);" role="presentation">in</span> <span dir="ltr" style="left: 867.57px; top: 1228.77px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.00672);" role="presentation">developing </span><span dir="ltr" style="left: 366.283px; top: 1248.77px; font-size: 15.8px; font-family: sans-serif; transform: scaleX(1.00669);" role="presentation">democracies.</span></span></p> Guilherme Paulo Andrade Júlio César Andrade de Abreu Ruan Carlos dos Santos Saleh Fadel Ahmad Khatib Copyright (c) 2022 Guilherme Paulo Andrade, Júlio César Andrade de Abreu, Ruan Carlos dos Santos 2022-06-15 2022-06-15 9 1 e0116 e0116 10.21434/IberoamericanJCG.v9i.116 Product Innovation: Path to Sustainable Competitive Advantage with Use of Environmental, Social and Governance Principles https://rgc.org.br/Journals/article/view/117 <p><strong>Purpose of the study:</strong> This study aims to analyze the relationship between product innovation and strategic resources used by the furniture enterprises, under the perspective of sustainable competitive advantage, with the intention to identify the resources previous to innovation.</p> <p><strong>Methodology/approach: </strong>The method used in this research is a quantitative and descriptive study, through a survey, applied to 1067 companies in Brazilian furniture industry. The data analysis occurred through Structural Equation Modeling.</p> <p><strong>Originality/Relevance:</strong> Product innovation and strategic resources are capable of providing great potential for economic transformation. It is strategically acknowledged that there is a relationship between product innovation and the use of resources, however, there are as yet insufficient empirical studies to determine which resources influence product innovation. Another important aspect is to evaluate the influence of Environmental, Social and Governance sustainability precepts in the development of new products.</p> <p><strong>Key findings:</strong> In the empirical study, noticed that Product Innovation results from the use of resources, which configures innovation antecedents.</p> <p><strong>Theoretical/methodological contributions: </strong>This study contributes the advancement of science, which can be used to analyze the antecedents of Product Innovation, which pointed out that companies with strategic resources can expand the capacity of innovation by generating sustainable Product Innovation, which leads to the success of a new product.</p> <p><strong>Social contributions/to management:</strong> This study can contribute to managerial decisions, as the results indicate that the Success in New Product Development proved to be an essential form of competitive advantage, comparing the results of Product Innovation with competitors and relating this performance to the use of Environmental, Social and Governance principles.</p> Julio Cesar Ferro De Guimarães Eliana Andréa Severo Eric Charles Henri Dorion Copyright (c) 2022 Julio Cesar Ferro De Guimarães, Eliana Andréa Severo, Eric Charles Henri Dorion 2022-06-28 2022-06-28 9 1 e0117 e0117 10.21434/IberoamericanJCG.v9i1.117 Agency Conflicts Between Controlling and Minority Shareholders in the Distribution of Dividends in Brazilian Companies https://rgc.org.br/Journals/article/view/76 <p><strong>Objective:</strong> This paper aims to investigate whether the dividend policy is influenced by the shareholding concentration of publicly traded companies in Brazil.</p> <p><strong>Methodology:</strong> This research was elaborated through panel regression analysis empirical tests, considering the period from 2013 to 2016.</p> <p><strong>Originality/ Relevance:</strong> In Brazil, shareholding is usually concentrated in a small number of shareholders. In this scenario, controlling shareholders often end up having a great influence on management. As a result, agency conflicts may arise (Dalmácio &amp; Corrar, 2007), mainly because controlling shareholders, who have the right to vote, are not always the holders of the preferred shares, which also share dividends (Lopes &amp; Walker, 2008). Thus, according to the Agency Theory, the possibility could be raised of the principal - the controlling shareholder aiming to maximize its individual utility (Martinez, 2001).</p> <p><strong>Main Results:</strong> It was verified that there is a positive relationship between the shareholding concentration and the distribution of dividends, that is, the higher the shareholding concentration, the greater the dividend distribution.</p> <p><strong>Contributions:</strong> For this research, it were used statistical tests utilizing the panel data regression technique and estimators of Weighted Least Square (WLS), in which were observed the results of the regressions of the total sample (1.440 observations) and four industry sectors, which showed evidence that, there is at least one variable with a statistically significant power (non-cyclical consumption, financial, health, and information technology).</p> Cleiton Ricardo Kuronuma Rodrigo Takashi Okimura George Andre Willrich Sale Copyright (c) 2022 Cleiton Ricardo Kuronuma, Rodrigo Takashi Okimura, George Andre Willrich Sale 2021-06-15 2021-06-15 9 1 e076 e076 10.21434/IberoamericanJCG.v9i.76 Compliance as an instrument for monitoring and controlling Public Administration https://rgc.org.br/Journals/article/view/108 <p>This study surveys the Public Administration Compliance state of the art in the national scientific domain and the understanding of its scope. Therefore, we applied a quantitative and descriptive approach, through bibliographic research for collecting data. Besides, we selected periodicals from the SPELL electronic library for the content analysis technique. The main contribution of this work lies in analyzing the state of the art of Compliance present in public administration while relating it to bibliometric laws and the verification of the authorship network, as there are several studies and surveys of Compliance, but aimed at private administration. As a result, we identified that the Revista de Administração Pública was the journal that most reported on the subject. Besides, there was a growth in publications over the years, with 2019 and 2020 being the years with the most publications. Also, it was observed that analyzed articles fitted the Lotka's law, but there was no applicability of Bradfort's and Zipf's law. The authoring network has a density of 0.037, considered a weak network. Finally, this work helps to map and identify the productions, their evolution over the years, the contributions and networks between the authors. In this context, we present the Compliance most cited articles in the national domain as a introductory guide for researchers of this area.</p> Claudia Abe Gargel Luengo Saulo Fabiano Amâncio Vieira Augusto Luengo Pereira Nunes Vera Lucia Tieko Suguihiro Copyright (c) 2022 Claudia Abe Gargel Luengo, Saulo F. Amâncio Vieira, Augusto L. P. Nunes, Vera Lucia Tieko Suguihiro 2022-06-15 2022-06-15 9 1 e0108 e0108 10.21434/IberoamericanJCG.v9i.108 Comparative Between Corporate Governance Practices of Brazil and the United States of America https://rgc.org.br/Journals/article/view/70 <p><strong>Purpose:</strong> To highlight the differences in Corporate Governance practices between Brazil and the United States of America - USA, based on the specific legislation of each country.</p> <p><strong>Methodology/approach</strong>: In methodological terms, the research had a documentary character, using as a research base two large Brazilian companies that operate both on the Brazilian Stock Exchange and in the USA.</p> <p><strong>Originality/Relevance:</strong> Corporate Governance has been gaining prominence and developing in recent years in the business environment, especially since 2002, after the fraud scandals involving large USA companies, when the subject became more valued and greater demand within organizations.</p> <p><strong>Findings:</strong> From the analysis of Form 20-F, which is submitted to the USA Securities and Exchange Commission (SEC), and of the Reference Form, which is submitted to the Brazilian Comissão de Valores Mobiliários (CVM), it was found that there are considerable differences between the two countries, especially in the matter of independent directors, the composition of the committees and the codes of conduct.</p> <p><strong>Theoretical/methodological contributions:</strong> Brazil still has issues to be reviewed in order to evolve in relation to Corporate Governance, to reduce the risk of fraud of a financial and administrative nature, as is being done in the United States. In fact, it would be interesting if there were specific legislation in Brazil on the topic of Corporate Governance, with a lower tolerance with companies due to lack of information, since only suggested practices and voluntary adherence may not be efficient to solve governance deficiencies in companies.</p> Alex Eckert Graciela Bavaresco da Silva Daiane Dal Bem Carlos Eduardo Schlindwein Copyright (c) 2022 Alex Eckert, Graciela Bavaresco da Silva, Daiane Dal Bem, Carlos Eduardo Schlindwein 2021-06-15 2021-06-15 9 1 e070 e070 10.21434/IberoamericanJCG.v9i.70