Características dos diretores financeiros brasileiros: uma análise à luz da teoria dos altos escalões

Abstract

Organizational performance is widely studied from different perspectives, one of which is under the resource management perspective. In this sense, it is understood that the executives who make up the top level of the organization represent resources at the disposal of the entities, thus there is the Theory of Higher Echelons (TAE), which recommends that the observable characteristics These executives influence strategic choices and consequently performance organizational. Thus, the objective of the research is to analyze the association between the profile of CFO of Brazilian non-financial companies holding the 100 most traded shares on B3 (according to the IBrX100 index) and their organizational performance. To this end, it was analysis of 79 non-financial companies with the most traded shares on B3, checking for through descriptive statistics, correlation and regression of panel data the existence of association and relationship between profitability and the characteristics of its CFO. The results found indicate that the observable characteristics that were statistically significant in relation to profitability (ROA) were: educational level and remuneration variable, showing a positive relationship. The entity's debt proved to have a inverse relationship, that is, the higher the entity's level of indebtedness, the lower the observed profitability. In this way, it is expected that this research will contribute theoretically to expand the discussion about TAE and its applicability and in a practical way for companies structure their human resources in line with performance expectations organizational expectations.