A problemática dos stock buybacks e a remuneração dos administradores

Abstract

This thesis analyses the problems regarding the use of stock buybacks as a remuneration policy for private limited companies and the underliyng conflicts of interest between executives and shareholders. Buybacks are not common in Portugal, wich obliged us to carry out a broad study covering the different problems associated with them, through the study of various papers of portuguese and anglo-saxon origin. Our study began by understanding its genesis and the reasons that lead a public limited companiy to acquire its own shares, as well as the methodologies they use to achieve this effect. Finally, we measured its admissibility under the national and european legal regimes, as well as their use as a remuneration policy for companies, culminating with the mechanisms used in the CSC that aim to protect the shareholders rights associated with the separation of ownership and control in the modern and complex structures of current companies.

Date of Award	11 Sept 2020
Original language	Portuguese
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Daniela Baptista (Supervisor)