The financial impact of governance corporate on the company's market value: Evidence from Brazil

Abstract

This research investigates the relationship between the corporate governance quality and the financial impact on the market performance, through the reapplication of Corporate Governance Index model, represented by the Tobin’s Q. The sample selected for this work was Brazilian publicly held companies and a survey with 106 investors was conducted. As the main information provider, the Brazilian Stock Exchange (B3) was used. The evidence and results confirmed the hypothesis that corporate governance practices have a financial and beneficial effect on companies’ market value. However, the model chosen showed to be insufficient for the Analise.