We study the separation of ownership and control for an average of 140 listed non-financial Corporations in Colombia during the 1996-2002 period. Breaking the sample according to their listing status and economic activity, voting rights are greater than cash flow rights because of the presence...

This paper describes the core features of the power sector 1994 regulatory reform and evaluates utility performance and efficiency before and after the reform. The performance analysis assesses the changes in means and medians of a series of profitability, efficiency, investment, sales of the...

On June 2000 the Colombian National Department of Statistics (DANE) adopted a new definition to measure unemployment following standards suggested by the International Labour Organisation (ILO). The change of definition implied a reduction of the unemployment rate of about two percentual points....

We asess evolution in perfomance, efficiency and productivity of Colombia's power distribution utilitiesbefore and after the 1994 regulatory reform that introduced electricity market activities for the power sector in 12 distribution companies from 1985 to 2001. Perfomance is evaluated...

Working on data of 1241 incumbent firms of the Colombian manufacturing industry this paper tests the hypothesis proposed in models relating turnover and efficiency wage theory. We find evidence of a substantial number of firms paying wages above the industry average and its effect on turn over...

En este documento se lleva a cabo el mismo experimento realizado por Harbaugh et al. (2001) usando como sujetos en el experimento a estudiantes de economía, ciencias políticas y medicina, quienes tienen una fuerte, mediana y nula formación en economía. El objetivo es encontrar violaciones al...

This paper offers a productivity growth estimate for electric energy commercialization firms in Colombia, using a non-parametric Malmquist bootstrap methodology. The estimation and methodology serve two main purposes. First, in Colombia commercialization firms are subject to a price-cap...

Colombia introduced a market-determined Nominal Exchange Rate (NER) with the US Dollar in 1991, after more than 20 years of controlled and multiple exchange rates. The first nine years the NER was set by an exchange rate band system, since 1999 the exchange rate is determined in a dirty float"...