An Empirical Analysis of Latin American Board of Directors and Minority Shareholders’ Rights

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An Empirical Analysis of Latin American Board of Directors and Minority Shareholders’ Rights

Journal Title: Fórum Empresarial - Year 2009, Vol 14, Issue 2

Abstract

This paper examines the link between corporate governance structures and the potential for expropriation of minority shareholders’ rights. Analysis of 97 firms from Brazil, Chile and Mexico that traded ADR shares in the United States between 2000 and 2002, indicates that increasing the size of the board by inclusion of additional independent outside directors lowers the potential for expropriation of minority shareholders’ rights. Also, increases in the tenure of independent outside directors, decreases in CEOs’ shareholdings and more interlocking directors on a board all serve to lower the potential for expropriation of minority shareholders’ rights.

Authors and Affiliations

Marisela Santiago, Cynthia J. Brown

Keywords

Estudio de viabilidad de las alternativas propuestas por el gobierno de Puerto Rico para atender el problema del manejo y disposición de los desperdicios sólidos, con especial atención a la alternativa de reciclaje

Sinopsis de las siguientes tesis: Evaluación empírica de la habilidad de la ganancia calculada y del flujo de efectivo para predecir flujos futuros de efectivo, El rol de la mujer ejecutiva en empresas locales que realiz...

EP ID EP752010
DOI https://doi.org/10.33801/fe.v14i2.3410
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