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Brazilian boardrooms
Industrialists in Brazil, like those in many other emerging markets, feel ambivalent about the idea of adopting the standards of governance favored by global investors. The reward might well be better access to international funding and higher share prices. But the risk would be the loss of full control and of the quick and agile decision making that concentrated ownership and informal governance make possible.
The take-away: What to do? In Brazil, at least, a survey of corporate leaders showed that companies intend to improve their access to capital and markets by making cautious reforms that will allow control to stay in the hands of the traditional owners as long as possible.
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