Research Network Working Paper, 518. Corporate governance and firm valuation in Colombia / Luis H. Gutiérrez 

Público ISBD Título de serie: Research Network Working Paper, 518 Título : Corporate governance and firm valuation in Colombia Tipo de documento: texto impreso Autores: Luis H. Gutiérrez ; Carlos Pombo Editorial: Washington : Banco Interamericano de Desarrollo Fecha de publicación: 2005 Número de páginas: 71 p Idioma : Inglés Temas: BANCO INTERAMERICANO DE DESARROLLO COLOMBIA ESTADO CORPORATIVO GOBIERNO Clasificación: 338.9 Resumen: This paper studies the separation of ownership and control of 108 listed companies in Colombia from 1996 to 2002, finding that voting rights are greater than cash flow rights because of indirect ownership across firms. The paper also examines the association of various ownership and control measures and separation ratios with a firms value and performance for the same sample of companies that traded their stock from 1998 to 2002. Large blockholders were found to exert a positive influence upon a firms valuation and performance, which validates the positive monitoring approach of large shareholders, but this relationship is not monotonic. The paper further reports results from a 2004 survey which suggests that Colombian firms have been slow to improve their corporate governance practices. En línea: http://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=1229987 Enlace permanente a este registro: https://opac.um.edu.uy/index.php?lvl=notice_display&id=72978 Research Network Working Paper, 518. Corporate governance and firm valuation in Colombia [texto impreso] / Luis H. Gutiérrez ; Carlos Pombo . - Washington : Banco Interamericano de Desarrollo, 2005 . - 71 p. Idioma : Inglés Temas: BANCO INTERAMERICANO DE DESARROLLO COLOMBIA ESTADO CORPORATIVO GOBIERNO Clasificación: 338.9 Resumen: This paper studies the separation of ownership and control of 108 listed companies in Colombia from 1996 to 2002, finding that voting rights are greater than cash flow rights because of indirect ownership across firms. The paper also examines the association of various ownership and control measures and separation ratios with a firms value and performance for the same sample of companies that traded their stock from 1998 to 2002. Large blockholders were found to exert a positive influence upon a firms valuation and performance, which validates the positive monitoring approach of large shareholders, but this relationship is not monotonic. The paper further reports results from a 2004 survey which suggests that Colombian firms have been slow to improve their corporate governance practices. En línea: http://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=1229987 Enlace permanente a este registro: https://opac.um.edu.uy/index.php?lvl=notice_display&id=72978

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Inventario	Ubicación en el estante	Tipo de medio	Sección	Ubicación	Estado
038376	338.9 RES v.518	Libro	Colección	Biblioteca Central	Disponible

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