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This paper analyzes the evolution, practice and the state of the art of corporate governance in Brazil. Locally, as a result of the influence of corporate governance stimulated by issues relating by transparency, commitment with sustainability and social responsibility, there has been a great shift on ownership and control from big family-owned with concentrated shares to pulverized controls. State-owned firms have been transferred to public owned through privatization. The current paper provides evidence based on the following statements: Issues tabled for discussion about corporate governance in Brazil involved the principles of transparency, informational asymmetry, accountability, ethics, to mention just a few; and that the corporate governance practice brought some vitality to the Brazilian Stock Market, thus, serving as a catalysis for private savings. In order to proceed with the aforementioned, we adopted the literature review methodology covering the international and local authors. Results of this study indicate that corporate governance strategic views in decision-taking processes now have a weight and that the era of concentration of controlling interest is short lived, additionally, taking the rate at which the public is sensitized about corporate governance, one would affirm that transparency at all spheres have reached a point of no return.

Corporate; Governance; Ownership; Control-Structure