Gestão de risco nas empresas do segmento Novo Mercado: um estudo exploratório

The objectives of this article are twofold: to assess at which level the risk management of Brazilian listed companies is positioned; to identify what these companies have done to manage their business risks. This is an exploratory study and documental research. Content analysis was used in the 2011 Reference Forms, available at the CVM website, to examine the information related to risk management. A sample of 60 companies, extracted from the universe of 120 Novo Mercado companies at the BM&FBovespa, was chosen randomly. We can conclude that the majority of companies are positioned at the basic level. In two aspects – risk measurement and organizational structure – some companies are positioned at the medium level. As far as the second objective, we understand that they have been adopting a conservative approach towards risk mitigation, loss reduction and asset safety. However, we could expect that they would make better use of external information to promote the efficiency of their corporate governance, given the fact that these companies are in the Novo Mercado segment.