Open AccessIntegration of Strategic Management, Governance and Risk Management: Impact of the Crisis of 2008 in Two Companies of Food
Author(s) -
Antônio Francisco de Almeida da Silva,
Raquel Ângelo Araújo,
Sandro Cabral
Publication year - 2013
Publication title -
revista ibero-americana de estratégia
Language(s) - English
Resource type - Journals
ISSN - 2176-0756
DOI - 10.5585/riae.v12i4.2040
Subject(s) - corporate governance , business , risk management , accounting , financial crisis , strategic management , finance , marketing , economics , macroeconomics
During the crisis of 2008, several Brazilian companies have accumulated losses that worth billions, as the result of a high foreign exchange rate exposure and failures in risk management and Corporate Governance. The aim of this research is to identify the strategic factors that contributed to two very similar companies to follow different paths in the financial crisis of 2008. To better understanding the subject, it was made a brief analysis of the foundations of the Corporate Governance, the requirements listed by BM&FBOVESPA and the principles of the financial risk management. The research identified that the practice of risk management is crucial in implementing best practices of corporate governance and that despite numerous initiatives of various institutions and regulators in establishing self-regulatory mechanisms to ensure the use of these practices, there are still flaws able to allow companies previously considered solid incurring in strategies that may jeopardize its existence