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Gobierno corporativo, diversificación estratégica y desempeño empresarial en México

Author

Listed:
  • Antonio Ruiz Porras

    (Tecnológico de Monterrey)

  • William Henry Steinwascher Sacio

    (Tecnológico de Monterrey)

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

Suggested Citation

  • Antonio Ruiz Porras & William Henry Steinwascher Sacio, 2008. "Gobierno corporativo, diversificación estratégica y desempeño empresarial en México," Revista de Administración, Finanzas y Economía (Journal of Management, Finance and Economics), Tecnológico de Monterrey, Campus Ciudad de México, vol. 2(1), pages 58-73.
  • Handle: RePEc:ega:rafega:200805
    as

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    File URL: http://alejandria.ccm.itesm.mx/egap/documentos/2008V2A5Ruiz-Steinwascher.pdf
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    References listed on IDEAS

    as
    1. repec:hrv:faseco:30728046 is not listed on IDEAS
    2. Rafael La Porta & Florencio Lopez-De-Silanes & Andrei Shleifer, 1999. "Corporate Ownership Around the World," Journal of Finance, American Finance Association, vol. 54(2), pages 471-517, April.
    3. Franklin Allen, 2005. "Corporate Governance in Emerging Economies," Oxford Review of Economic Policy, Oxford University Press, vol. 21(2), pages 164-177, Summer.
    4. repec:hrv:faseco:30747162 is not listed on IDEAS
    5. 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).
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Jesus Sáenz González & Emma García-Meca, 2014. "Does Corporate Governance Influence Earnings Management in Latin American Markets?," Journal of Business Ethics, Springer, vol. 121(3), pages 419-440, May.
    2. 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.

    More about this item

    Keywords

    Gobierno corporativo; diversificación estratégica; desempeño empresarial; propiedad familiar; consejos de administración;

    JEL classification:

    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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