Corporate governance at TAP

Abstract

Bearing in mind the current instability in the definition of the objectives of a company and the alignment of all members of a company with these objectives, it is fundamental for organizations to have an effective Corporate Governance Model, which maximizes the interests of shareholders. This need for the creation of effectiveness is enhanced in organizations with peculiar equity structures. Thus, this project includes the analysis of some of the key conditions for an effective Corporate Governance and then the study of a particular Portuguese company in the air industry, which has had frequent equity structure changes and is now 50% owned by the state. Therefore, the aim of the project is to identify Corporate Governance trends and relate these trends to the company's equity structure. Through the analysis of relevant documents of the company and some insights of current and past members of the latter, belonging to Governances with different equity structures, it could be concluded that there are no significant differences in the models and procedures adopted within both Governances, mainly due to the fact that the Management of the company was private in both moments. Moreover, it could also be concluded that there still is a long path to be gone through by the company in order to improve its Corporate Governance.