Resumo

Since Jensen and Meckling (1976) formalized the agency conflict, following the seminal work of Berle and Means (1932), the body of knowledge called corporate governance gained researching scale focused on the management practices of organizations. In a modernistic way, corporate governances have been directed to guarantee the well-being of all the organizations' stakeholders and not only shareholders (Jacoby, 2005). However, studies systematizing the teaching of corporate governance for business students, are still rare and incipient, some outstanding examples are Jacobs (2009).

Furthermore, in a more forward view, the following question was formulated: what are the expectations of accounting and actuarial students about the effects of the car-wash operation on the corporate governance practices of Brazilian companies? The focus on accounting and actuarial students was considered appropriate given their greater involvement in matters related to the topic of corporate governance, as well as their higher familiarity with issues related to the corporate risk management (Zuckwelier, Rosacker & Hayes, 2016).

Rezaee et al., (2012) examined the importance of CG and ethics education in accounting curriculum, according to the authors view corporate governance has had a significant impact on academy and market, however corporate governance education has rarely been debated in academic research. Coffee (2006) mention the failures of gatekeepers in cases such Enron and WorldCom, and he points out the importance to teach corporate governance to students.

The survey's constructs composed eight questions groups: Board of Director (BD), Human Resources Strategic Management (HRSM), Internal Audit (IA), Internal Control (IC), Information Technology (IT), Risk Management (RM), Self-declared Knowledge of Corporate Governance (SKCG), and Corporate Governance Expectations after ‘Car-Wash' operation (CGECW). We developed a structural equation modeling (SEM) operationalizing it by the Partial Least Square (PLS), for this reason commonly is used with the name PLS-SEM. In essence, the PLS algorithm is a sequence of regressions .

The statistical findings indicated that the students surveyed understand the importance of corporate governance for their careers and the development of corporate activities. Furthermore, they also understand the relevance of the specific mechanisms studied here, with emphasis on the importance attributed to them by human resource strategic management, information technology as a support tool and internal controls. However, regarding the expectations of Brazilian corporate governance in the post car-wash, the accounting and actuarial students surveyed did not reveal perceptions of incremental

This finding is supported by the arguments expressed in the theoretical background. The students surveyed, in their significant majority, already initiated their professional careers, they have previous technical knowledge about the corporative back-office, and in this sense, much probably they still looking for to the car wash operation with a degree of skepticism. This result might be indicating that they understand that there is a need to carry out reforms within the broader public and private sectors and that, although the car-wash operation has brought to a light spurious relationship.

AACSB International (2005),“ Presentation by John J. Fernandes on Corporate governance: essentials for the future manager”, International Conference and Annual Meeting, San Francisco, CA. Adams, R., Hermalin, B.E. and Weisbach, M.S. (2008), “The role of boards of directors in corporate governance: a conceptual framework and survey”, Working Paper 14486, National Bureau of Economic Research, Cambridge, MA. Anderson, J. C.; Gerbing, D. W. Structural equation modeling in practice: a review and recommended a two-step approach. Psychological Bulletin,v. 103, n. 3, p. 411-423, 1988.