A Comparative Analysis of Corporate Governance Systems in Latin America PDF Download
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Author: Ruth V. Aguilera
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
This paper analyzes corporate governance systems in five Latin American countries: Argentina, Brazil, Chile, Colombia and Venezuela. We account for the broader institutional environment in explaining changes over time as well as existing corporate governance systems. We use a stakeholder definition of corporate governance that includes examining insiders such as owners and boards of directors as well as outsiders such as employees. This corporate governance perspective allows for a systematic cross-national comparison.
Author: Ruth V. Aguilera
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
This paper analyzes corporate governance systems in five Latin American countries: Argentina, Brazil, Chile, Colombia and Venezuela. We account for the broader institutional environment in explaining changes over time as well as existing corporate governance systems. We use a stakeholder definition of corporate governance that includes examining insiders such as owners and boards of directors as well as outsiders such as employees. This corporate governance perspective allows for a systematic cross-national comparison.
Author: Mohammad Ayub Khan
Publisher: Springer Nature
ISBN: 3030834654
Category : Business & Economics
Languages : en
Pages : 301
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Book Description
This book explores new models and future possibilities of university governance in a Latin American context using management and leadership theories. The dramatic changes and uncertainty facing the world recently have forced us to reimagine the future of education. Changes such as digitalization, the increasing number of corporate universities, and the need for cost-effective educational programs and services require universities to keep evolving while ensuring that they maintain their essence as a critical social asset. This book offers a new approach to managing and leading the university, particularly by embracing the role and responsibility of delivering quality educational programs and services, by being innovative and flexible enough to make urgent decisions and act upon them in a timely and appropriate manner. With its contributions to management and the social sciences, this interdisciplinary book will serve as a valuable resource to researchers, administrators, and students alike.
Author: Francisco Reyes
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Lack of a significant separation between ownership and control in Latin American companies imposes a necessary departure from applicable principles of corporate governance designed for market systems. Therefore, it may prove difficult, for instance, to adopt US norms, in the region due to well-known systemic differences. Corporate governance principles that deal with tensions arising from opportunistic behavior of directors and officers vis-à-vis shareholders may be less important in this region than those principles relating to potential expropriation of minority shareholders or other forms of oppression and reaping of private benefits by block-holders. It is acknowledged that systems in which block holding prevails allow minority stockholders to free ride on controlling shareholders' efforts to monitor management. The emphasis on corporate governance principles in Latin America should be placed not only on directors' duties, but also on the effective protection of minority shareholders and other stakeholders against the undue appropriation of corporate assets by block-holders. Above all, a determining factor for poor corporate governance in this region relates to the prevailing weakness of the legal infrastructure and, specifically, the comparative lack of enforceability. A comprehensive legal catalogue of minority shareholders' rights may be of little value without efficient remedies and procedures ensuring their effective application. This problem can be partially dealt with by the appropriate reallocation of judicial or quasi-judicial powers to specialized administrative agencies. Nevertheless, the effectiveness of legal reform will be limited, in general, by local culture, politics, equity ownership structures and rule of law considerations.
Author: Alberto Chong
Publisher: World Bank Publications
ISBN: 0821369148
Category : Business & Economics
Languages : en
Pages : 584
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Book Description
'Investor Protection and Corporate Governance' analyzes the impact of corporate governance on firm performance and valuation. Using unique datasets gathered at the firm-level the first such data in the region and results from a homogeneous corporate governance questionnaire, the book examines corporate governance characteristics, ownership structures, dividend policies, and performance measures. The book's analysis reveals the very high levels of ownership and voting rights concentrations and monolithic governance structures in the largest samples of Latin American companies up to now, and new data emphasize the importance of specific characteristics of the investor protection regimes in several Latin American countries. By and large, those firms with better governance measures across several dimensions are granted higher valuations and thus lower cost of capital. This title will be useful to researchers, policy makers, government officials, and other professionals involved in corporate governance, economic policy, and business finance, law, and management.
Author: Ben Ross Schneider
Publisher: Cambridge University Press
ISBN: 1107435706
Category : Political Science
Languages : en
Pages : 263
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Book Description
This book argues that Latin America has a distinctive, enduring form of hierarchical capitalism characterized by multinational corporations, diversified business groups, low skills and segmented labor markets. Over time, institutional complementarities knit features of corporate governance and labor markets together and thus contribute to institutional resiliency. Political systems generally favored elites and insiders who further reinforced existing institutions and complementarities. Hierarchical capitalism has not promoted rising productivity, good jobs or equitable development, and the efficacy of development strategies to promote these outcomes depends on tackling negative institutional complementarities. This book is intended to open a new debate on the nature of capitalism in Latin America and link that discussion to related research on comparative capitalism in other parts of the world.
Author: Robert W. McGee
Publisher: Springer Science & Business Media
ISBN: 0387848339
Category : Business & Economics
Languages : en
Pages : 298
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Book Description
Much has been written about the economic and political problems of countries that are in the process of changing from centrally planned systems to market systems. Most studies have focused on the economic, legal, political, and sociological pr- lems these economies have had to face during the transition period. However, not much has been written about the dramatic changes that have to be made to the accounting and ? nancial system of a transition economy. This book was written to help ? ll that gap. This book is the sixth in a series to examine accounting and ? nancial system reform in transition and developing economies. The ? rst book (Accounting and Financial System Reform in a Transition Economy: A Case Study of Russia) used Russia as a case study. The second volume in the series (Accounting and Financial System Reform in Eastern Europe and Asia) examined some additional aspects of the reform in Russia and also looked at the accounting and ? nancial system reform efforts that are being made in Ukraine, Bosnia and Herzegovina, Armenia, Eastern Europe, and Central Asia. The third volume (Taxation and Public Finance in Tran- tion and Developing Economies) examined taxation and public ? nance in transition and developing economies. The fourth volume (Accounting Reform in Transition and Developing Economies) examines accounting reform in transition and devel- ing economies.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264116052
Category :
Languages : en
Pages : 78
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Book Description
This report reflects long-term, in-depth discussion and debate by participants in the Latin American Roundtable on Corporate Governance.
Author: Gregory Francesco Maassen
Publisher: Gregory Maassen
ISBN: 9090125914
Category : Corporate governance
Languages : en
Pages : 228
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Book Description
Author: Afra Afsharipour
Publisher: Edward Elgar Publishing
ISBN: 1788975332
Category : Law
Languages : en
Pages : 544
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Book Description
This research handbook provides a state-of-the-art perspective on how corporate governance differs between countries around the world. It covers highly topical issues including corporate purpose, corporate social responsibility and shareholder activism.
Author: Weltbank
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
The main objective of this report is to provide a descriptive analysis of the current practices and trends of corporate governance of State-owned Enterprises (SOEs) in several Latin-American countries. It provides practitioners of SOE corporate governance with a stocktaking of current practices and trends in several Latin American countries, as well as international experiences and good practices elsewhere. This report intend to contribute to the discussion and growing interest on SOE corporate governance and to provide an impulse for further analytical work in this area. In most Latin American and Caribbean countries, the SOE sector contributes significantly to GDP and represents an important part of consolidated public expenditures. In several cases, the SOEs are also key and strategic actors in the country s economy providing essential goods and services and frequently hold a dominant market position in critical sectors, such as petroleum, electricity, and transportation. They also operate in competitive markets such as financial services, telecommunications, etc. SOEs are also increasingly under pressure, by both their governments and by international competition, to operate and achieve their goals more efficiently and effectively. Within this context, achieving good corporate governance practices is critical to SOEs effectively providing goods and services and achieving their short-, medium-, and long-term goals, within a sustainable fiscal framework. This report has been prepared with the direct collaboration of government officials involved in the SOE sectors of eight countries in Latin America and the Caribbean, and Spain. It is mainly based on financial information and other relevant data on the above-mentioned countries, covering the period from 2010 to 2013. As part of data collection for the report, representatives of the SOE sectors in Brazil, Chile, Colombia, Dominican Republic, Mexico, Panama, Paraguay, Peru, Spain and Uruguay, attended the Technical Workshop on SOE Supervision in Latin American and Caribbean Countries, organized by the SOE Monitoring Unit of Paraguay and the World Bank in December 2011 in Punta del Este, Uruguay.
