This file is part of IDEAS, which uses RePEc data


[ Papers | Articles | Software | Books | Chapters | Authors | Institutions | JEL Classification | NEP reports | Search | New papers by email | Author registration | Rankings | Volunteers | FAQ | Blog | Help! ]

Empresa Familiar, Mecanismos de Gobierno y Discrecionalidad Directiva

Author info | Abstract | Publisher info | Download info | Related research | Statistics
Author Info
Castrillo Lara, Luis () (Departamento de Economía y Administración de Empresas, Facultad de Ciencias Económicas y Empresariales, Universidad de Burgos)
San Martín Reyna, Juan Manuel () (Departamento de Economía y Administración de Empresas, Facultad de Ciencias Económicas y Empresariales, Universidad de Burgos)
Abstract

El presente trabajo analiza la interacción entre los mecanismos de gobierno de la empresa –estructura de propiedad, consejo de administración y deuda-, centrándonos especialmente en el estudio de la estructura de propiedad, en concreto, el control familiar, como mecanismo de supervisión y control de la dirección. Tras comprobar que la propiedad familiar constituye un elemento disciplinador del equipo directivo, se analiza el efecto de los mecanismos de gobierno sobre la discrecionalidad directiva segmentando la muestra por estructura de propiedad –familiares y no familiares-, obteniendo que mecanismos de control que resultaban relevantes dejan de serlo debido a que uno de los mecanismos, concretamente la estructura de propiedad familiar, alivia los problemas de agencia evitando el incurrir en mecanismos de control adicionales como la deuda. Como variable representativa de la discrecionalidad directiva hemos tomado los ajustes por devengo discrecionales obtenidos de la aplicación del Modelo de Jones es su versión de corte transversal.

Download Info
To our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.

Publisher Info
Paper provided by Interuniversitary Doctorate Program "New Trends on Business Administration", Universities of Valladolid, Burgos and Salamanca (Spain). Programa de Doctorado Interuniversitario "Nuevas Tendencias en Dirección de Empresas", Universidades de Valladolid, Burgos y Salamanca (España). in its series Documentos de Trabajo "Nuevas Tendencias en Dirección de Empresas". Working Papers "New Trends on Business Administration". with number 2006-12.

Download reference. The following formats are available: HTML, plain text, BibTeX, RIS (EndNote), ReDIF
Length: 39 pages
Date of creation: Dec 2006
Date of revision:
Handle: RePEc:ntd:wpaper:2006-12

Contact details of provider:
Postal: Avda. Valle Esgueva, 6, 47011 Valladolid
Phone: +34 983 420000 ext. 4392
Fax: +34 983 423899
Email:
Web page: http://www3.uva.es/empresa/
More information through EDIRC

Order Information:
Postal: Av. Valle de Esgueva, 6. E-47011-Valladolid (Spain)
Email:

For technical questions regarding this item, or to correct its listing, contact: (Fortuna-Lindo, Jose M.).

Related research
Keywords: Mecanismos de gobierno discrecionalidad ajustes por devengo empresa familiar.

Other versions of this item:

This paper has been announced in the following NEP Reports: References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Ana I. Fernández & Silvia Gómez-Ansón & Carlos Fernández-Ansón, 1998. "El papel supervisor del consejo de administración sobre la actuación gerencial. Evidencia para el caso español," Investigaciones Economicas, Fundación SEPI, vol. 22(3), pages 501-516, September. [Downloadable!]
  2. Kini, Omesh & Kracaw, William & Mian, Shehzad, 1995. "Corporate takeovers, firm performance, and board composition," Journal of Corporate Finance, Elsevier, vol. 1(3-4), pages 383-412, April. [Downloadable!] (restricted)
  3. Bushman, Robert M. & Smith, Abbie J., 2001. "Financial accounting information and corporate governance," Journal of Accounting and Economics, Elsevier, vol. 32(1-3), pages 237-333, December. [Downloadable!] (restricted)
  4. Klein, April, 2002. "Audit committee, board of director characteristics, and earnings management," Journal of Accounting and Economics, Elsevier, vol. 33(3), pages 375-400, August. [Downloadable!] (restricted)
  5. Fama, Eugene F & Jensen, Michael C, 1983. "Separation of Ownership and Control," Journal of Law & Economics, University of Chicago Press, vol. 26(2), pages 301-25, June.
  6. Yermack, David, 1996. "Higher market valuation of companies with a small board of directors," Journal of Financial Economics, Elsevier, vol. 40(2), pages 185-211, February. [Downloadable!] (restricted)
  7. Fan, Joseph P. H. & Wong, T. J., 2002. "Corporate ownership structure and the informativeness of accounting earnings in East Asia," Journal of Accounting and Economics, Elsevier, vol. 33(3), pages 401-425, August. [Downloadable!] (restricted)
  8. Demsetz, Harold, 1983. "The Structure of Ownership and the Theory of the Firm," Journal of Law & Economics, University of Chicago Press, vol. 26(2), pages 375-90, June.
  9. Fama, Eugene F, 1980. "Agency Problems and the Theory of the Firm," Journal of Political Economy, University of Chicago Press, vol. 88(2), pages 288-307, April. [Downloadable!] (restricted)
  10. Jensen, Michael C, 1993. " The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems," Journal of Finance, American Finance Association, vol. 48(3), pages 831-80, July. [Downloadable!] (restricted)
  11. Shleifer, Andrei & Vishny, Robert W, 1997. " A Survey of Corporate Governance," Journal of Finance, American Finance Association, vol. 52(2), pages 737-83, June. [Downloadable!] (restricted)
    Other versions:
  12. Chen, Charles J. P. & Jaggi, Bikki, 2000. "Association between independent non-executive directors, family control and financial disclosures in Hong Kong," Journal of Accounting and Public Policy, Elsevier, vol. 19(4-5), pages 285-310. [Downloadable!] (restricted)
  13. Shleifer, Andrei & Vishny, Robert W, 1986. "Large Shareholders and Corporate Control," Journal of Political Economy, University of Chicago Press, vol. 94(3), pages 461-88, June. [Downloadable!] (restricted)
Full references

Statistics
Access and download statistics

Did you know? Authors registered on the RePEc Author Service receive monthly emails with details about downloads and abstract views of their works.

This page was last updated on 2008-9-2.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.