Sample of selected companies for analysis of CBE and corporate governance
| Criteria | No. of companies | (%) |
|---|---|---|
| Panel A | ||
| Companies listed in Brasil, Bolsa e Balcão (B3) | 445 | 100.00 |
| Inactive companies in 2016 or with excessive absence of information in the study period | 134 | 30.11 |
| Final sample | 311 | 69.89 |
| Panel B | ||
| Sectors of activity defined by Comdinheiro | ||
| Industrial goods | 50 | 16.10 |
| Construction and transportation | 1 | 0.30 |
| Cyclic consumption | 74 | 23.80 |
| Non-cyclical consumption | 23 | 7.40 |
| Financial and others | 60 | 19.30 |
| Basic materials | 28 | 9.00 |
| Oil, gas and biofuels | 7 | 2.30 |
| Cheers | 11 | 3.50 |
| Information technology | 6 | 1.90 |
| Telecommunications | 6 | 1.90 |
| Public utility | 45 | 14.50 |
| Final sample | 311 | 100 |
| Criteria | No. of companies | (%) |
|---|---|---|
| Companies listed in Brasil, Bolsa e Balcão (B3) | 445 | 100.00 |
| Inactive companies in 2016 or with excessive absence of information in the study period | 134 | 30.11 |
| Final sample | 311 | 69.89 |
| Sectors of activity defined by Comdinheiro | ||
| Industrial goods | 50 | 16.10 |
| Construction and transportation | 1 | 0.30 |
| Cyclic consumption | 74 | 23.80 |
| Non-cyclical consumption | 23 | 7.40 |
| Financial and others | 60 | 19.30 |
| Basic materials | 28 | 9.00 |
| Oil, gas and biofuels | 7 | 2.30 |
| Cheers | 11 | 3.50 |
| Information technology | 6 | 1.90 |
| Telecommunications | 6 | 1.90 |
| Public utility | 45 | 14.50 |
| Final sample | 311 | 100 |
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