Uma análise sobre a priorização e o nível de engajamento dos stakeholders nos processos de recuperação judicial de empresas

Abstract

The basic principle of the judicial reorganization instrument is to preserve the organization and human dignity, protecting the employees´jobs and the stakeholders’ interests. Given the importance of adjusting the involved stakeholders´ interests, the aim of this study was to analyze the relationship with the stakeholders’ creditors listed in the organizations' recovery plans, before and after the change in the Law that deals with judicial recovery, in December 2020th . To achieve this aim, the following specific aims were outlined: (i) to map the main stakeholders’ creditors described in the judicial reorganization processes, (ii) to verify the importance of these stakeholder groups according to the "salience model"; (iii) verify the level of engagement of each group according to the "levels of engagement". We carried out empirical research through the judicial reorganization plans content analysis, as well as specialists´ reports in judicial reorganization. We collected 126 processes of judicial reorganization pleadings as secondary data, and also primary data, through semi-structured interviewd with ten specialists. The results indicate that the most salient stakeholder groups are the labor and real guarantee creditors, showing a higher level of the "legitimacy" attribute for the last. The stakeholders´ commitment is still primary in the companie´s judicial recovery processes. This research adds to the discussion concerning stakeholders´ participation in the companies' judicial recovery processes