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Concentración de la propiedad y desempeño contable: el caso latinoamericano

Author

Listed:
  • Julián Benavides

Abstract

Este artículo estudia los efectos de la concentración de la propiedad sobre el desempeño contable en un panel de datos de 532 empresas entre los años 1999 y 2003 de cinco países latinoamericanos: Colombia, Brasil, Chile, Perú y Venezuela. Los resultados, en una aproximación que asume independencia entre las variables, soportan un efecto positivo de la concentración de la propiedad sobre el desempeño y un efecto, más débil, también positivo, del desempeño sobre la concentración de la propiedad. En un contexto de ecuaciones simultaneas, el efecto de la concentración de la propiedad en el desempeño se torna negativo, mientras que el efecto positivo del desempeño sobre la concentración de la propiedad se desvanece. La relación de la concentración de la propiedad con el desempeño sugiere un atrincheramiento de los accionistas controlantes que vulnera la competitividad de las empresas de los países de la muestra.

Suggested Citation

  • Julián Benavides, 2005. "Concentración de la propiedad y desempeño contable: el caso latinoamericano," Borradores de Economía y Finanzas 002175, Universidad Icesi.
  • Handle: RePEc:col:000130:002175
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    File URL: http://www.icesi.edu.co/eni/departamento/publicaciones/docs/BORRAECO/Borrador%20de%20Economia%204.pdf
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    Citations

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    Cited by:

    1. Lina M. Cortés & Diego A. Agudelo & Samuel Mongrut, 2012. "Waves and determinants in the activity of Mergers and Acquisitions: The Case of Latin America," Documentos de Trabajo CIEF 010658, Universidad EAFIT.

    More about this item

    Keywords

    Concentración de la propiedad; desempeño de las empresas; gobierno corporativo; datos de panel;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

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