Governança corporativa e instituições financeiras de desenvolvimento: lições da experiência internacional

Abstract

The article contributes to the debate on corporate governance in state-owned companies in Brazil, focusing on development financial institutions (DFI). The objective is to reflect on the effectiveness of the existing mechanisms to assert the interests of the population, which is the owner in the last resort of state organizations. The study focuses on the experience of the Brazilian Development Bank (BNDES) compared to the instruments observed in similar organizations around the world with regard to the representativeness of organized civil society on the boards of directors. In this way, it is envisaged to achieve a broader reflection on the role of DFIs in the long-term challenges of the Brazilian State, not necessarily linked to specific designs of different governments throughout the country’s political cycles.