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Gobierno corporativo, diversificación estratégica y desempeño empresarial en México

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  • Antonio Ruiz-Porras

    (Tecnológico de Monterrey, Campus Ciudad de México)

  • William Henry Steinwascher Sacio

    (Tecnológico de Monterrey, Campus Ciudad de México)

Abstract

We study the relationships among corporate governance, strategic diversification and financial performance in Mexico. The study uses data from 99 non-financial firms listed in the BMV (Mexican Stock Market) during 2004. The main findings are: Firms which property is concentrated in a principal shareholder focus on the domestic market. Family firms try to diversify their productive activities and sources of income. There are no trends, regarding strategies and performance, related to the separation between ownership and control. Finally, when independent committees exist in the boards of directors, mean-narrow-spectrum diversification is encouraged in the firms.

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File URL: http://www.csf.itesm.mx/egade/publicaciones/articulos/Vfin_WillPvf28.pdf
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Bibliographic Info

Article provided by Tecnológico de Monterrey, Campus Ciudad de México in its journal Revista de Administración, Finanzas y Economía (Journal of Management, Finance and Economics).

Volume (Year): 2 (2008)
Issue (Month): 1 ()
Pages: 58-73

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Handle: RePEc:ega:rafega:200805

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Web page: http://www.ccm.itesm.mx/egap/
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Keywords: Gobierno corporativo; diversificación estratégica; desempeño empresarial; propiedad familiar; consejos de administración;

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  1. Rafael La Porta & Florencio Lopez-de-Silane & Andrei Shleifer, 1998. "Corporate Ownership Around the World," NBER Working Papers 6625, National Bureau of Economic Research, Inc.
  2. Franklin Allen, 2005. "Corporate Governance in Emerging Economies," Oxford Review of Economic Policy, Oxford University Press, vol. 21(2), pages 164-177, Summer.
  3. Hoshino, Taeko, 2004. "Family Business in Mexico: Responses to Human Resource Limitations and Management Succession," IDE Discussion Papers 12, Institute of Developing Economies, Japan External Trade Organization(JETRO).
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Cited by:
  1. Ruiz-Porras, Antonio & Lopez-Mateo, Celina, 2010. "The separation of ownership and control and investment decisions in Mexican manufacturing firms," MPRA Paper 25237, University Library of Munich, Germany.

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