Evolução do perfil dos dirigentes das entidades de previdência complementar brasileiras pela ótica da governança corporativa

Abstract

The segment of Closed Complementary Pension Funds (EFPC) is relevant for the financial well-being of its participants and as an institutional investor it promotes the country's economic growth, with a minimal corporate governance structure established by the constitution (Deliberative Council; Fiscal Council and Executive Board). This article aims to analyze the evolution of the profile of the minimal governance structure of EFPCs. For this purpose, quantitative documentary research techniques were applied, with a sample of 280 entities, corresponding to 93.02% of the population. The qualitative variables were analyzed by relative frequency (contingency tables) and associations between them (V de Cramer). To check the evolution, we divided the sample into two periods: (2013 to 2017) and (2018 to 2022). The results showed the presence of managers with a low level of academic education, although in the minority, and the predominance of men in these positions, especially for financial resource management and senior management. From the academic background of the managers mentioned by the participants, we can see that this criterion is not the most relevant. The evolution shows a reduction in the number of managers, as a possible result of the concentration of multi-sponsored entities; greater participation of women; and an increase in the influence of sponsors in the Deliberative Council and members in the Fiscal Council. The results provide contributions by highlighting relevant profile characteristics of EFPC managers, ratifying the importance of the principles and practices of corporate governance to reduce the risks of technical competence, conflicts of interest, and gender inequality.