December 2015

Corporate Governance in Emerging Markets After Lava Jato: What Lessons Can We Learn from Brazil?

After ending 2014 with major corporate scandals in China (GlaxoSmithKline), Brazil (Petrobras) and Portugal (Banco Espírito Santo), some investors thought we were back to business as usual in 2015. Instead, Brazil’s Operação Lava Jato (Operation Car Wash) corruption probe mushroomed to an even broader investigation that has entwined senior management at some of the country’s largest corporations and dragged a number of bonds and stocks to distressed levels.