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Purpose- The main objective is to analyze the direct effect of Corporate Governance (CG) on Dynamic Capabilities (DCs) and on Business Performance (BP), and the moderating and/or mediating impact of DCs on the CG-BP relationship. Methodology- The quantitative analysis was performed through PLS-SEM. Data were collected through a survey involving companies listed in B3 S/A from 2014 to 2016, except for companies from the financial sector. The final sample encompassed 195 companies per assessed year, thus totaling 585 observations concerning 2014, 2015 and 2016. Findings- Confirmed the direct and positive effect of CG on DC development, as well as DC's influence on BP and the mediating effect of DC on the CG - BP relationship. The main conclusion was that DCs are a powerful mediating influence on the CG-BP relationship. Hence, even with efficient corporate governance mechanisms, the companies must make decisions in line with their dynamic capabilities as a way to reach better business performance. Limitations- Research cross-section method of data collection; and universe of companies listed in the Brazilian stock market. Practical implications- For example, the rejected hypothesis about the direct effect of CG on BP and the confirmation of the indirect effect via DCs suggests the analysis of aspects related to costs with monitoring procedures applied to agency conflicts and to complementary factors that must be achieved in order to boost performance. On practical terms, the results contribute to companies that look for the best and most satisfactory performance in the markets they work in. [ABSTRACT FROM AUTHOR]

Na atual conjuntura competitiva, os acompanhamentos administrativos e financeiros são essenciais para o estabelecimento dos requisitos necessários a uma eficiente tomada de decisão. Assim, o objetivo deste trabalho foi comparar o desempenho empresarial do setor salineiro do Rio Grande do Norte no período de 2010/2011, com os setores de mineração e serviços hospitalares que também apresentam elevado grau de concentração, segundo classificação baseada nos índices Razão de Concentração (CR) e Herfindahl-Hirschman (HH). A pesquisa foi de natureza quantitativa aplicada em 33 empresas salineiras do Rio Grande do Norte. Para o tratamento dos dados, realizou-se a técnica de análise multivariada de cluster. Quanto aos resultados, foi possível identificar que o setor salineiro foi o que melhor destacou-se financeiramente com crescimento no lucro líquido de 11,11%. Pode-se concluir que, devido à inelasticidade do setor salineiro, o mesmo tem apresentado crescimento no Estado. [ABSTRACT FROM AUTHOR]