Compensation programs of companies who adhered to the differentiated levels of corporate governance of the São Paulo Stock Exchange

Abstract

The philosophy and models of the System of Compensation of administrators were analyzed to verify the degree of agreement with the good practice of corporate governance structure. The structure of corporate governance is made up of the Chairman of the Board of Directors, council members, CEO and the executive board. Literature reviewed disclosed only isolated aspects of governance and remuneration without any integrated format. Exploratory and descriptive methods were used for documentary research and field survey at the companies who had adhered to the differentiated levels of corporate governance of the São Paulo Stock Exchange (level 1, level 2 and new market). Conclusions showed that remuneration of the council member was reasonable without considering the variable component found in executive board. The organizations used short term indicators for the remuneration system and were already formalizing procedures. However, greater internal as well as external transparency is required to make these procedures more public.