The Government as Shareholder and Principal-Principal Conflicts in the Brazilian Electric Power Industry

Considering that principal-principal conflicts in companies under mixed public-private ownership are substantially different from the typical agency conflict model, this paper’s objective is to analyze principal-principal conflicts in mixed ownership companies in the Brazilian electric power industr...

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Autores principales:	Murialdo Loch, Jaison Caetano Silva, Giovana Bueno, Rosilene Marcon
Formato:	article
Lenguaje:	EN PT
Publicado:	FUCAPE Business School 2020
Materias:	government as shareholder principal principal conflicts corporate governance institutions Business HF5001-6182
Acceso en línea:	https://doaj.org/article/e93279ed61b7449eb34c531306811686
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spelling	oai:doaj.org-article:e93279ed61b7449eb34c5313068116862021-11-11T15:48:08ZThe Government as Shareholder and Principal-Principal Conflicts in the Brazilian Electric Power Industry1807-734X10.15728/bbr.2020.17.1.2https://doaj.org/article/e93279ed61b7449eb34c5313068116862020-01-01T00:00:00Zhttp://www.redalyc.org/articulo.oa?id=123062398002https://doaj.org/toc/1807-734XConsidering that principal-principal conflicts in companies under mixed public-private ownership are substantially different from the typical agency conflict model, this paper’s objective is to analyze principal-principal conflicts in mixed ownership companies in the Brazilian electric power industry. In order to expand understanding of the phenomenon which we are studying, we have integrated the assumptions that underlie agency theory and institutional theory, using a qualitative approach and collecting data during semi structured interviews with companies’ board members. Data was analyzed and interpreted as per Bardin (2006), with the aid of ATLAS®ti software. Our main findings suggest that while a government stake in a firm’s ownership structure can provide a useful channel for the government to seek support and resources, in counterpoint, it can also create distortions and uncertainties, and exacerbate principal-principal conflicts. The development of stronger institutions and corporate governance could bring about useful options for providing checks and balances and, in the final analysis, mitigate principal-principal conflict. The article contributes to the literature by providing additional elements that are not available in public reports. Analysis of the conflict between principal and principal, together with theoretical integration, seek to broaden the understanding of this theme.Murialdo LochJaison Caetano SilvaGiovana BuenoRosilene MarconFUCAPE Business Schoolarticlegovernment as shareholderprincipalprincipal conflictscorporate governanceinstitutionsBusinessHF5001-6182ENPTBBR: Brazilian Business Review, Vol 17, Iss 1, Pp 24-45 (2020)
institution	DOAJ
collection	DOAJ
language	EN PT
topic	government as shareholder principal principal conflicts corporate governance institutions Business HF5001-6182
spellingShingle	government as shareholder principal principal conflicts corporate governance institutions Business HF5001-6182 Murialdo Loch Jaison Caetano Silva Giovana Bueno Rosilene Marcon The Government as Shareholder and Principal-Principal Conflicts in the Brazilian Electric Power Industry
description	Considering that principal-principal conflicts in companies under mixed public-private ownership are substantially different from the typical agency conflict model, this paper’s objective is to analyze principal-principal conflicts in mixed ownership companies in the Brazilian electric power industry. In order to expand understanding of the phenomenon which we are studying, we have integrated the assumptions that underlie agency theory and institutional theory, using a qualitative approach and collecting data during semi structured interviews with companies’ board members. Data was analyzed and interpreted as per Bardin (2006), with the aid of ATLAS®ti software. Our main findings suggest that while a government stake in a firm’s ownership structure can provide a useful channel for the government to seek support and resources, in counterpoint, it can also create distortions and uncertainties, and exacerbate principal-principal conflicts. The development of stronger institutions and corporate governance could bring about useful options for providing checks and balances and, in the final analysis, mitigate principal-principal conflict. The article contributes to the literature by providing additional elements that are not available in public reports. Analysis of the conflict between principal and principal, together with theoretical integration, seek to broaden the understanding of this theme.
format	article
author	Murialdo Loch Jaison Caetano Silva Giovana Bueno Rosilene Marcon
author_facet	Murialdo Loch Jaison Caetano Silva Giovana Bueno Rosilene Marcon
author_sort	Murialdo Loch
title	The Government as Shareholder and Principal-Principal Conflicts in the Brazilian Electric Power Industry
title_short	The Government as Shareholder and Principal-Principal Conflicts in the Brazilian Electric Power Industry
title_full	The Government as Shareholder and Principal-Principal Conflicts in the Brazilian Electric Power Industry
title_fullStr	The Government as Shareholder and Principal-Principal Conflicts in the Brazilian Electric Power Industry
title_full_unstemmed	The Government as Shareholder and Principal-Principal Conflicts in the Brazilian Electric Power Industry
title_sort	government as shareholder and principal-principal conflicts in the brazilian electric power industry
publisher	FUCAPE Business School
publishDate	2020
url	https://doaj.org/article/e93279ed61b7449eb34c531306811686
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The Government as Shareholder and Principal-Principal Conflicts in the Brazilian Electric Power Industry

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