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dc.creatorGutiérrez, Luis H. 
dc.creatorPombo, Carlos 
dc.date.accessioned2015-10-16T15:48:03Z
dc.date.available2015-10-16T15:48:03Z
dc.date.created2005-07
dc.date.issued2005
dc.identifier.issn0124-4396
dc.identifier.urihttp://repository.urosario.edu.co/handle/10336/11298
dc.description.abstractWe examine for the first time the association of different measures of ownership and control, and separation ratios with firm’s value and performance for 108 non-financial firms that traded their stock during the period 1998 to 2002. We found that large blockholders exert a positive influence upon firm’s valuation and performance, which validates the positive monitoring approach of large shareholders, but also found that this relation is not monotone implying that when separation of control and ownership tends to increase, a negative effect is exerted on firm’s valuation. Furthermore, we report first estimates of a survey of corporate governance practices conducted in 2004 for 43 Colombian non-financial companies. The index’s scores suggest that implementation of good governance in Colombian firms has been slow and poor as measured by the average of the Index that is below half the maximum attainable value. Regrettably, we did not find any support to recent theories that predict a positive association between good governance practices, measured by the CGI, and performance. At most there exists a positive relationship for sub-index but the results were not statistically significant in general.
dc.format.extent59 páginas
dc.format.mediumRecurso electrónico
dc.format.mimetypeapplication/pdf
dc.language.isoeng
dc.relation.ispartofEconomía. Serie documentos. Borradores de investigación, No. 71
dc.relation.isversionof1
dc.relation.urihttps://ideas.repec.org/p/col/000091/002203.html
dc.sourceinstname:Universidad del Rosario
dc.sourcereponame:Repositorio Institucional EdocUR
dc.sourceinstname:Universidad del Rosario
dc.subject.ddcAdministración general 
dc.subject.lembEconomía::Colombia
dc.subject.lembAdministración de empresas::Colombia
dc.subject.lembControl::Administración
dc.subject.lembAdministración financiera::Colombia
dc.subject.lembFinanzas::Colombia
dc.titleCorporate valuation and governance : evidence from Colombia
dc.typeworkingPaper
dc.publisherEditorial Universidad del Rosario
dc.publisher.departmentUniversidad del Rosario. Facultad de Economía
dc.subject.keywordOwnership
dc.subject.keywordControl
dc.subject.keywordCorporate Governance
dc.subject.keywordColombia
dc.rights.accesRightsinfo:eu-repo/semantics/openAccess
dc.type.spaDocumento de trabajo
dc.rights.accesoAbierto (Texto completo)
dc.type.hasVersioninfo:eu-repo/semantics/acceptedVersion
dc.format.tipoDocumento
dc.rights.ccAtribución-NoComercial-SinDerivadas 2.5 Colombia
dc.creator.googleGutiérrez R., Luis H.
dc.creator.googlePombo V., Carlos
dc.relation.citationIssueNo. 71
dc.relation.citationTitleEconomía. Serie documentos. Borradores de investigación


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