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Advisor(s)
Abstract(s)
Nesta dissertação pretendemos indagar a admissibilidade das ações de lealdade como forma de premiar e incentivar a fidelidade dos acionistas para com a sociedade à luz do ordenamento jurídico português. Iremos perscrutar se, à luz da realidade das grandes sociedades comerciais portuguesas, esta seria uma solução eficaz para fazer face às estratégias de curto prazo tantas vezes adotadas pelos acionistas e se a recente reforma operada no Código dos Valores Mobiliários pode constituir um passo decisivo no sentido da admissibilidade de ações de lealdade. Iremos ainda explorar as vantagens associadas à possibilidade de as ações de lealdade constituírem um complemento da remuneração dos administradores.
In this dissertation, we aim to investigate whether loyalty shares, aimed at rewarding and encouraging shareholder loyalty towards the Company, are admissible under Portuguese legal framework. We will scrutinize whether, in light of the reality of the large Portuguese limited liability companies by shares (“sociedades anónimas”), this would be an effective solution to address short-term strategies that are so often embraced by shareholders and whether the recent overhaul of the Portuguese Securities Code could be held as a decisive step towards the admissibility of loyalty shares. We will also tap the advantages associated with the possibility of loyalty shares constituting a complement to the remuneration of Directors.
In this dissertation, we aim to investigate whether loyalty shares, aimed at rewarding and encouraging shareholder loyalty towards the Company, are admissible under Portuguese legal framework. We will scrutinize whether, in light of the reality of the large Portuguese limited liability companies by shares (“sociedades anónimas”), this would be an effective solution to address short-term strategies that are so often embraced by shareholders and whether the recent overhaul of the Portuguese Securities Code could be held as a decisive step towards the admissibility of loyalty shares. We will also tap the advantages associated with the possibility of loyalty shares constituting a complement to the remuneration of Directors.
Description
Keywords
Ações de lealdade Short-termism Voto de lealdade Dividendo de lealdade Warrant de lealdade Categoria especial de ações Corporate governance Loyalty shares Loyalty vote Loyalty dividend Loyalty warrant Special category of shares