This paper presents a simple framework in order to analyze different corporate governance mechanisms and their impact on firm structures and performance. Based on recent literature on the subject, the paper discusses the validity of Demsetz’s evolution hy

As a result of the publication of the Code of Corporate Good Governance in 1998, known as the Olivencia Code, some companies voluntarily created an audit committee, after the recommendation of the Code in which all companies, especially listed, were encouraged to create them. Therefore, the aim...

The emergence of the economy of knowledge has resulted in, among other consequences, the triumph of globalization and market liberalization, the primacy of the individual as a competitive critical factor and the crisis of the relevance of financial information, its comparability and reliability....

An international reaction was required to the financial scandals of recent years, and some States started to reform corporate governance. Two main systems were used – self-regulation through good governance codes, and legislative measures to achieve transparency in financial markets. The...

In the running of social firms, managers play a leading role which can guide the course of these companies. In this article we analyse the theoretical elements underlying the central importance of managers in social firms, the nature of these strategic human resources, particularly the variables...

From a compared institutional analysis, the institutional characteristics and problems of agency are defined in different types of firms. There follows an examination of the interdependence and circularity of the problem of agency in labour managed firms, and the problems of control which occur...

In this paper we intend to analyse the real application of the shareholders´ voting rights as a means to encourage social commitments among companies. Shareholders activism has succeeded in introducing corporate governance and corporate social responsibility in companies. The current framework...

This paper examines the ownership structure of listed Thai firms in 1996. The ownership structure is concentrated. In 82.59 percent of the firms in the sample, the largest shareholders are also controlling shareholders. The controlling shareholders are mainly families. Foreign investors form the...

En este escrito se estudia la implicación de condiciones suficientesy/o necesarias en un cambio estructural, comparando el proceso deindustrialización de Corea del Sur con el de Colombia. Se analizandos períodos: 1960-1990 y 1991-2007, antes y después de la apertura en ambos países. Se...