Corporate governance in Latin American firms: Contestability of control and firm value
M Jara, F López-Iturriaga… - BRQ Business …, 2019 - journals.sagepub.com
Using a sample of 595 firms listed in the capital markets of Argentina, Brazil, Chile,
Colombia, Mexico, and Peru for the period of 2000–2015, we confirm prior literature by
showing that when power distribution among several large shareholders (contestability)
increases, firms' financial performance is enhanced. More interestingly, we find that these
relations are even more significant in family-owned firms, emphasising the relevance of
contesting control in this kind of firm. Furthermore, contestability has a greater influence in …
Colombia, Mexico, and Peru for the period of 2000–2015, we confirm prior literature by
showing that when power distribution among several large shareholders (contestability)
increases, firms' financial performance is enhanced. More interestingly, we find that these
relations are even more significant in family-owned firms, emphasising the relevance of
contesting control in this kind of firm. Furthermore, contestability has a greater influence in …
[引用][C] Corporate governance in Latin American firms: Contestability of control and firm value. BRQ Business Research Quarterly, 22 (4), 257-274
M Jara, F López-Iturriaga, P San-Martín, P Saona - 2019