The Reflection of Corruption in Brazilian Companies Listed on Brasil, Bolsa, Balcão (B3)

Abstract

The purpose of this chapter is to analyze the reflection of corruption in Brazilian companies listed on Brasil, Bolsa, Balcão (B3). The methodological design comprised a qualitative and descriptive approach in which documentary research was used to gather data. Content analysis was employed to treat data retrieved from Standard Financial Statements, Explanatory Notes, and Sustainability Reports, from 2013 to 2017. The findings reveal a low level of disclosure of the companies listed on B3 concerning the reflections of corruption. The disclosed reflections include the increase in the company's operating costs and the impact on the company's future cash flow which can be direct, such as through the reduction of revenues from canceled negotiations, or indirect, through transaction costs due to the misconduct of the company.

Citation

Vieira de Oliveira, O., Seabra da Silveira Filho, S. and Alexandre de Lima, F. (2020), "The Reflection of Corruption in Brazilian Companies Listed on Brasil, Bolsa, Balcão (B3)", Crowther, D. and Seifi, S. (Ed.) Governance and Sustainability (Developments in Corporate Governance and Responsibility, Vol. 15), Emerald Publishing Limited, Leeds, pp. 185-204. https://doi.org/10.1108/S2043-052320200000015011