Tendo em vista contribuir, segundo os seus autores, para que o mercado de capitais seja um instrumento alternativo aos actualmente existentes para o financiamento das PME, foi criado pela NYSE Euronext’s um Comité de Planeamento Estratégico para as PME que publicou recentemente um Relatório contendo várias recomendações concretas, cujo conteúdo, ontem apresentado na Euronext Lisbon, se dá a conhecer (+)

Resultante de uma parceria celebrada entre a Society of Corporate Secretaries and Governance Professionals e o Deloitte Center for Corporate Governance foi recentemente divulgado o 2011 Board Practices Report. Fundada nas respostas obtidas junto de cerca de 200 secretários de sociedade, este relatório já vai na sua sétima edição, o que lhe confere a capacidade de fazer alguns exercícios de formação de tendências.

De notar, ainda, que este último relatório alargou o âmbito dos temas tratados, passando a incluir informação sobre as qualificações dos membros do board, o envolvimento dos accionistas, as políticas de comunicação e o uso de tecnologias de informação nas reuniões do board.

Consulte o conteúdo integral deste Relatório (+)

Publicado já na sua sétima edição pela Heidrick & Struggles e desta vez sob o título Challenging Board Perfomance e prefaciado pelo Prof. António Borges está disponível o Relatório relativo ao exercício de 2011 contendo pontos de vista actuais dos principais leaders europeus acerca das complexas relações existentes entre os diversos agentes do governance das sociedades (com destaque para os administradores executivos e os independentes).(+)

No âmbito do acordo de cooperação com o FAE – Fórum de Administradores de Empresas foi solicitado que os Associados do IPCG - Instituto Português de Corporate Governance participassem no debate sobre a competitividade do Fórum Económico Mundial, através do preenchimento de um questionário.

This publication examines how effectively boards manage to align executive and board remuneration with the longer-term interests of their companies.

Independent Commission on Banking - Final Report Recommendations

September 2011

Achieving Effective Boards - A comparative study of corporate governance frameworks and board practices in Argentina, Brazil, Chile, Colombia, Mexico, Panama and Peru

To promote the financial stability of the United States by improving accountability and transparency in the financial system, to end ‘‘too big to fail’’, to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes.

FINANCIAL REPORTING COUNCIL - GOOD PRACTICE SUGGESTIONS FROM THE HIGGS REPORT - JUNE 2006

O presente relatório teve por base três fontes de informação fundamentais: as respostas das sociedades ao Anexo II do Regulamento nº1/2010, relativo ao “Governo das Sociedades”, os relatórios de governo das sociedades relativos ao exercício findo em 31 de Dezembro de 2009 e as convocatórias das assembleias gerais que decorreram ao longo de 2009.

THE FINANCIAL ASPECTS OF CORPORATE GOVERNANCE

ECGI research projects in the field of Corporate Governance are initiated and overseen by the ECGI Research Committee.These projects should be of significant policy relevance as well as academic excellence.

The Committee identifies project members and leaders from the research membership of ECGI. Other academics can be involved as thought appropriate. It will receive research proposals and interim and final reports on projects and it will be provided with regular financial statements on projects.

Saïd Business School University of Oxford and ECGIents on projects

The doofus factor
How can you tell a good board of directors from a bad one?

The Economist | Sep 17th 2011 | NEW YORK | from the print edition

Gestão pro bono

António Gomes Costa (Professor na ISCTE Business School)

Raquel Sofia Pereira do Nascimento*

* Este texto tem por base a minha tese de Mestrado em Ciências Empresariais – especialização em Finanças, pela Faculdade de Economia do Porto, que foi orientada pelo Professor Doutor Jorge Bento Farinha.

O responsável da Egon Zehnder International analisa a polémica sobre as remunerações dos administradores das empresas cotadas e considera que foram dados grandes passos em Portugal, para maior transparência dos processos.

Estudo da União Europeia sobre o "comply or explain"

Este documento reúne as respostas a um questionário sobre o governo das sociedades cotadas que a CMVM levou a cabo entre Abril e Julho de 2009. Das sociedades cotadas no mercado português não foram inquiridas no referido questionário as três sociedades anónimas desportivas, pelo que o número total de empresas analisadas é de 47.

Recentemente publicado pela OCDE: “OCDE Work programme on Corporate Governance and dispute resolutions"

Recentemente publicado pela OCDE: “Sumário do inquérito da OCDE à governance de instituições de seguros”.(+)

Recentemente publicado: Corporate Governance de institutições de seguros IAIS e OCDE

Recentemente publicado: Novas orientações da Comissão Europeia para a estrutura e determinação da remuneração dos administradores

Recentemente publicado pela OCDE: “Frequently asked questions Recomendação sobre remuneração dos administradores“(+)

Recentemente publicado: Impostos e Bom Governo: A Comissão Europeia propõe o aumento da transparência e da troca de informação e competição fiscal leal

A review of corporate governance in UK banks and other financial industry entities - 16 July 2009(+)

Este documento reúne as respostas a um questionário sobre o governo das sociedades cotadas que a CMVM levou a cabo entre Junho e Agosto de 2008. O questionário foi enviado às sociedades de direito nacional que tinham acções cotadas no mercado português, tendo sido respondido por todas as empresas.

Through its impact on corporate competitiveness and access to global capital markets, corporate governance plays an increasingly important role for entrepreneurship, economic growth and employment.

How can the efficiency of state-owned enterprises be improved? What effects do privatisation policies have on corporate governance in privatised enterprises? What role do employees play in corporate governance? This report examines these issues and provides recommendations. This publication presents the papers of the OECD conference on "State-Owned Enterprises, Privatisation and Corporate Governance" which took place in Paris on 3 and 4 March 1997. It brings together contributions from different countries highlighting different approaches to governance in state-owned enterprises and the impact of the choice of privatisation method on post-privatisation corporate governance and performance. Special attention is paid to the experience of Canada, France, New Zealand and the United Kingdom.

Poor corporate governance was identified as one of the root causes of the recent Asian financial crisis. The absence of effective disciplines on corporate managers, coupled with complicated and opaque relationships between corporations, their owners and their finance providers, affected severely investors’ confidence in the region’s corporate sectors. Economies that took early steps to improve corporate governance have been recovering from the crisis at a more rapid pace than those who have not addressed this issue. The Asian crisis showed that good corporate governance is important not only for individual corporations to raise capital but also for an economy to achieve sustainable growth. This publication includes papers submitted to the "Conference on Corporate Governance in Asia: A Comparative Perspective" held in Seoul in March 1999. These papers describe vividly the corporate governance practices in the region and the recent changes largely prompted by the crisis. Also included are papers on corporate governance in major OECD countries, which serve as a good source of comparative information on this issue. This review is part of the OECD's ongoing co-operation with non-Member economies around the world.

A l'heure de la mondialisation, de la décentralisation et des économies fondées sur le savoir, les gouvernements doivent aujourd'hui repenser le rôle des dirigeants dans le secteur public pour faire face aux nouveaux défis. En effet, cet environnement impose aux dirigeants de la fonction publique d'assumer de nouveaux rôles, notamment en tant qu'agents du changement, promoteurs de l'amélioration des performances, coordonnateurs des politiques gouvernementales et gardiens des valeurs du service public.

Au seuil du XXIe siècle, les bouleversements qui accompagnent la transformation de l’économie et de la société semblent devoir se poursuivre. L'intégration croissante des marchés, des nouvelles technologies révolutionnaires, la technicité de plus en plus marquée des activités humaines, tout indique la naissance d'un monde extrêmement complexe.

Good governance in modern times requires attention not only to shifting relations between governments, citizens and parliaments, but to the effective functioning of government itself. One important issue is "Distributed Governance" - a term coined in this publication to capture the notion of proliferating public organisations operating with some degree of separateness from core government ministries. Despite the fact that in many countries more than half of public employment and central public expenditure is carried out through such bodies, they have not been comprehensively studied from a governance perspective. Some important questions concerning these organisations that need to be addressed are: Does government have adequate oversight of them? How accountable are they? and To whom should they be accountable?

Cette publication présente cinq expériences menées par les pouvoirs publics en vue de promouvoir le développement durable au Canada, en Allemagne, au Japon, aux Pays-Bas et au Royaume-Uni. Ces pays ont été sélectionnés sur la base de leur diversité en terme de taille et de conditions naturelles. Ils présentent également une variété de conditions économiques, environnementales et culturelles. Les cinq études présentent une illustration des efforts spécifiques qui visent à l’adaptation des modalités de la gouvernance en matière institutionnelle et de prise de décision, afin de mieux répondre à l’enjeu du développement durable. Les études de cas sont introduites par une section analytique, qui met principalement l’accent sur la façon dont les différents niveaux d'administration pourraient développer des approches intégrées de la prise de décision, permettre une participation effective de la société civile, et améliorer la capacité des pouvoirs publics à« adopter une perspective à plus long terme » - c’est à dire à définir des politiques qui puissent rester durables à un horizon plus lointain.

Corporate governance matters for national development. Studies of Brazil, Chile, India, and South Africa show that corporate governance has an important role to play in helping both to increase financial capital to firms in developing countries and to enhance those countries’ financial development as a whole. They further show that corporate governance matters can contribute greatly to achieving sustained productivity growth in developing countries’ real economies. The value of improved corporate governance for development cannot, however, be considered in isolation. In the financial sector, attention must also be given to measures to strengthen the banking sector and a country’s financial institutions as a whole. To gain most from improved corporate governance in the real economy, close attention must also be given to competition policy and to reforms of sector-specific regulatory practices. The book is for civil society, NGOs and research institutes.