São Paulo Law School discusses New Market at congress in the United States

04/12/2013[Atualizado em: 17/04/2017 - 08:57]

The Law professor of São Paulo Law School and director of the Center for Studies in Business Law, Erica Gorga, presented in November a work on the New Market at the Indiana University Maurer School of Law.

In her study, "Corporate Control and Governance after a Decade from 'Novo Mercado': Changes in Ownership Structures and Shareholder Power in Brazil” the professor analyzes the power of shareholders in Brazil, and discusses the impact of the greater dispersion of stock ownership on the rights of minority interests of the New Market, besides the problems of shareholder participation in meetings.

Erica Gorga also makes a retrospective of the evolution of capital markets in Brazil, with emphasis on the motivations that led to the creation of the New Market, and its relation to the high level of dispersion of shareholding control of Brazilian public companies.

"The dispersion of ownership affects the governance of Brazilian companies as phenomena such as shareholder agreements, for instance, arise," says Erica in the conclusion of the paper.

Besides being part of the faculty of São Paulo Law School, Professor Erica Gorga is John R. Raben/Sullivan&Cromwell Executive Director at the Law School of Yale University.

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