Disruptividade na governança das startups: uma análise da implementação de inteligência artificial nas práticas de governança entre startups e investidores

Abstract

This dissertation has as its object of research the implementation of corporate governance practices foreseen for publicly traded companies for startups constituted as limited liability companies and their investors. Considering that startups, even in their initial phase, deal with technological, regulatory and financial risks, investing in their activity proves to be more risky and costly than investments in usual business activities. In this way, startups would benefit from the adoption of such practices as a way to mitigate risks and, consequently, guarantee their perpetuity. The core of the research focuses on practices involving transparency and accountability, starting from the constitution of the board of directors, which would be the guardian body of governance practices, to the implementation of auditing practices, involving the audit committee, the internal audit and the independent audit. The problem presented by the research lies precisely in the fact that (i) startups take risks that make their investment more costly and risky for their investors because they are backed by a lack of transparency and accountability, and (ii) startups constituted as limited companies do not have the structural and financial capacity to bear the costs of implementing governance practices, at least in the traditional way. Thus, it is intended to analyze which regulatory modulations would be necessary to implement such practices. The proposal is to specifically analyze whether the implementation of artificial intelligence in governance practices would be a regulatory modulation that would meet the precepts of corporate governance practice, as well as the risks and entropic effects arising from its application.