Governança corporativa em empresas estatais: estudo de caso Petrobras S.A.

Abstract

This paper has implications for the debate about state intervention in economic activity from state-owned enterprises and corporate governance mechanisms that prevent curb fraud and ensure the rights of all interested parties. In this regard, it is imperative to study legal theories formulated in order to explain the societal phenomenon, the formation of societies and their social interest. After reviewing the contractualist and institutionalist theories, which are insufficient to explain and harmonize the public interest and profit-making present all over majority control of the company of state entity, one comes to the organization contract theory that proposes selective internalization of many interests of those affected by business activity and the creation of a suitable organization to harmonize them. Then, it proceeds to the interpretation of the guiding principles of corporate governance in accordance with the particularities of state-owned enterprises, with emphasis on transparency, equity, accountability, corporate responsibility and ethics. In the end, choosing the mixed capital company Petróleo Brasileiro SA - Petrobras - as an object of study, stands out the strategic relevance to the social and economic development of the country and the implications "Operação Lava-Jato" in their activities. The study of codes and manuals made by the company in order to govern Petrobras relations and the composition of its governing bodies gives a glimpse of the mechanisms for good governance practices adopted by the state and the main obstacles to the realization of real change in internal governance of the company.