APLICAÇÕES DOS FUNDOS DE PENSÃO E OS AMBIENTES INSTITUCIONAIS – A INFLUÊNCIA DA REGULAÇÃO E DAS ESTRUTURAS DE CORPORATE GOVERNANCE E ALGUMAS INDICAÇÕES PARA O CASO DO BRASIL
DOI:
https://doi.org/10.61673/ren.2000.1945Keywords:
Corporate Governance, Corporate Finance, Pension Funds, Long Run FinancingAbstract
This paper shows that the pension funds financial performance depends on the predominant structures of financing, ownership and control of the firms. We follow the theoretical hypothesis according to which the differences verified between the performance of the pension funds in different countries are not based only on different legislations. Their performance in the capital market is also conditioned by corporate governance structures, which are related to their market origin and legislation. Those structures denote the configuration and amplitude of the capital market in the country being studied. The basic legislation of those markets is connected with those structural factors. We raise these matters in this paper, giving some relevant indications to the subject in the case of Brazil.