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Composición del consejo de administración y desempeno financiero en mercados emergentes de América Latina: evidencia para Brasil, Chile y México

Author

Listed:
  • Andrés A. Acuna-Duarte
  • Marcelo Arévalo-Alegría
  • Andrea King-Domínguez

Abstract

Este artículo analiza el impacto de cuatro atributos del consejo de administración sobre el desempeno de 101 empresas no financieras de Brasil, Chile y México, vigentes en el periodo 2011-2017. Además, se innova al explorar el efecto rezagado de tales atributos para abordar la causalidad inversa identificada en la literatura. La estimación de modelos de datos de panel estáticos y dinámicos revela un efecto positivo de la independencia del consejo sobre el desempeno contable de firmas brasilenas y chilenas. La evidencia reportada es mixta en cuanto a la dualidad de cargo, mientras que se identifica una relación positiva, cuadrática y cóncava para el tamano del consejo. Finalmente, no se encuentra evidencia de que la diversidad de género reditúe en un mejor desempeno presente y futuro.

Suggested Citation

  • Andrés A. Acuna-Duarte & Marcelo Arévalo-Alegría & Andrea King-Domínguez, 2020. "Composición del consejo de administración y desempeno financiero en mercados emergentes de América Latina: evidencia para Brasil, Chile y México," Estudios Gerenciales, Universidad Icesi, vol. 36(156), pages 272-287, September.
  • Handle: RePEc:col:000129:018448
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    File URL: https://www.icesi.edu.co/revistas/index.php/estudios_gerenciales/article/view/3739
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    More about this item

    Keywords

    gobierno corporativo; consejo de administración; diversidad de género; desempeño financiero; América Latina;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General

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