三、巴西国有公司治理变革:国有控股企业巴西石油公司案例IBGC 第一副主席 Monforte 先生在谈到巴西国有企业私有化运动时曾经提到,因为有的巴西国有企业能够找到进一步投资的钱,所以继续保持了国有控股的性质。看看巴西石油公司变革的过程,感觉确实耐人寻味。(一)巴西政府管理方式的变革与政企关系变化巴西的国有企业私有化运动在20世纪90年代进入高潮。但是在1997 III. Brazilian State-owned Corporate Governance Reform: State-controlled company Petrobras Case IBGC First Vice Chairman Monforte mentioned when talking about the privatization of state-owned companies in Brazil, because some Brazilian state-owned companies can find money for further investment. Continue to maintain the nature of state-owned holding. Looking at the process of Petrobras’s change, I feel really interesting. (I) Changes in the Brazilian government’s management approach and changes in government-enterprise relations Brazil’s privatization of state-owned enterprises reached its climax in the 1990s. But in 1997