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Los grupos económicos en México a partir de una tipología de arquitectura y gobierno corporativos. Una revisión de sus explicaciones teóricas

Author

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  • Chavarín Rodríguez, Rubén

    (Universidad de Guadalajara)

Abstract

This paper develops a typology of corporate architecture and corporate governance in order to analyze the Mexican Business Groups. The typology helps under-stand: 1) the evolution of Mexican business networks towards a centralized coordination of the firms, and 2) how changes in some features of corporate governance have tended to preserve a state of few counterweights to the decisions of majority shareholders. Moreover, this paper presents a survey that provides a set of possible explanations for the formation and operation of Business Groups. This review helps assess the analytical advantages of a socioeconomic approach that conceives these business networks as a consequence of sociocultural, institutional, and economic factors, which provides a theoretical basis for understanding the historical persistence of this business system in Mexico and other countries.// En este artículo se desarrolla una tipología de arquitectura y gobierno corporativos con el fin de analizar a los grupos económicos mexicanos. La tipología ayuda a comprender la evolución de las redes de negocios mexicanas hacia una coordinación centralizada de las empresas; también ayuda a entender cómo los cambios en el gobierno corporativo han tendido a preservar un estado de pocos contrapesos en las decisiones de los accionistas mayoritarios. Asimismo, el artículo presenta una revisión teórica que proporciona un conjunto de posibles explicaciones de la formación y funcionamiento de los grupos económicos. Esta revisión permite valorar las ventajas analíticas de un enfoque socioeconómico que interpreta a estas redes de negocios a partir de la interacción entre factores socioculturales, institucionales y económicos, lo que aporta una base teórica para comprender la persistencia histórica de este sistema de negocios en México y otros países.

Suggested Citation

  • Chavarín Rodríguez, Rubén, 2011. "Los grupos económicos en México a partir de una tipología de arquitectura y gobierno corporativos. Una revisión de sus explicaciones teóricas," El Trimestre Económico, Fondo de Cultura Económica, vol. 0(309), pages 193-234, enero-mar.
  • Handle: RePEc:elt:journl:v:78:y:2011:i:309:p:193-234
    DOI: http://dx.doi.org/10.20430/ete.v78i309.31
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    File URL: http://www.eltrimestreeconomico.com.mx/index.php/te/article/view/31/33
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    References listed on IDEAS

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    1. Moerland, Pieter W., 1995. "Alternative disciplinary mechanisms in different corporate systems," Journal of Economic Behavior & Organization, Elsevier, vol. 26(1), pages 17-34, January.
    2. Castañeda, Gonzalo, 2009. ""Sociomática": El estudio de los sistemas adaptables complejos en el entorno socioeconómico," El Trimestre Económico, Fondo de Cultura Económica, vol. 0(301), pages 5-64, enero-mar.
    3. Maurer, Noel & Haber, Stephen, 2007. "Related Lending and Economic Performance: Evidence from Mexico," The Journal of Economic History, Cambridge University Press, vol. 67(03), pages 551-581, September.
    4. Hoshi, Takeo, 2002. "Japanese Corporate Governance," Economic Review, Hitotsubashi University, vol. 53(4), pages 289-304, January.
    5. Khanna, Tarun, 2000. "Business groups and social welfare in emerging markets: Existing evidence and unanswered questions," European Economic Review, Elsevier, vol. 44(4-6), pages 748-761, May.
    6. Heitor V. Almeida & Daniel Wolfenzon, 2006. "A Theory of Pyramidal Ownership and Family Business Groups," Journal of Finance, American Finance Association, vol. 61(6), pages 2637-2680, December.
    7. Granovetter, Mark, 1995. "Coase Revisited: Business Groups in the Modern Economy," Industrial and Corporate Change, Oxford University Press, vol. 4(1), pages 93-130.
    8. Sergei Guriev & Andrei Rachinsky, 2005. "The Role of Oligarchs in Russian Capitalism," Journal of Economic Perspectives, American Economic Association, vol. 19(1), pages 131-150, Winter.
    9. Lins, Karl V., 2003. "Equity Ownership and Firm Value in Emerging Markets," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 38(01), pages 159-184, March.
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    More about this item

    Keywords

    empresas; fallas de mercado; gobierno corporativo; grupos económicos; redes de negocios;

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • N86 - Economic History - - Micro-Business History - - - Latin America; Caribbean

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