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Investor Protection and Corporate Governance: Firm-level Evidence Across Latin America

Опубликовано на портале: 11-11-2008
Washington: World Bank Publications, 2007, cерия "Latin American Development Forum", 557 с.
Investor Protection and Corporate Governance analyzes the impact of corporate governance on firm performance and valuation. Using unique datasets gathered at the firm-level - the first such data in the region - and results from a homogeneous corporate governance questionnaire, the book examines corporate governance characteristics, ownership structures, dividend policies, and performance measures. The book's analysis reveals the very high levels of ownership and voting rights concentrations and monolithic governance structures in the largest samples of Latin American companies up to now, and new data emphasize the importance of specific characteristics of the investor protection regimes in several Latin American countries. By and large, those firms with better governance measures across several dimensions are granted higher valuations and thus lower cost of capital. This title will be useful to researchers, policy makers, government officials, and other professionals involved in corporate governance, economic policy, and business finance, law, and management.

1. Corporate governance in Latin America / Alberto Chong and Florencio Lopez-de-Silanes

2. Insider trading and corporate governance in Latin America / Juan J. Cruces and Enrique Kawamura

3. Corporate governance and ownership : measurement and impact on corporate performance and dividend policies in Argentina / Ricardo N. Bebczuk

4. Corporate governance and value in Brazil (and in Chile) / Ricardo P.C. Leal and Andre L. Carvalhal-da-Silva

5. The effect of corporate governance practices on company market valuation and payout policy in Chile / Fernando Lefort and Eduardo Walker

6. Corporate governance and firm valuation in Colombia / Luis H. Gutierrez and Carlos Pombo

7. Corporate governance and firm value in Mexico / Alberto Chong and Florencio Lopez-de-Silanes

8. CEO and director turnover in Venezuela / Urbi Garay and Maximiliano Gonzalez.

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