"The author studies annuity rates in Chile and relates them with industry competition. He finds (1) that annuity insurance companies paying higher broker commissions paid lower annuity rates; and (2) a structural break of the long-run elasticity of annuity rates to the risk-free rate in 2001....

(Disponible en idioma inglés únicamente) En este trabajo nos preguntamos si las prácticas de conducción empresarial al nivel de compañía en un país dado inciden o no en la valuación de mercado de esas compañías. Esta cuestión es esencial para poder evaluar los beneficios potenciales...

In this paper we ask whether corporate governance practices at the firm level within a single country affect these firms` market valuation. This question is crucial in assessing the potential benefits for firms of changing their own practices, even though they cannot affect their country`s...