메뉴 건너뛰기




Volumn 61, Issue 2, 2009, Pages 112-139

Corporate ownership and control contestability in emerging markets: The case of Colombia

Author keywords

Colombian corporations; Corporate control; Corporate governance; Firm value; Multiple blockholders

Indexed keywords


EID: 58549098557     PISSN: 01486195     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jeconbus.2008.01.002     Document Type: Article
Times cited : (38)

References (38)
  • 5
    • 77953539003 scopus 로고    scopus 로고
    • Corporate governance, ownership and dividend policies in Argentina
    • Chong A., and Lopez-de-Silanes F. (Eds), The World Bank-Stanford University Press, Washington, DC
    • Bebczuk R. Corporate governance, ownership and dividend policies in Argentina. In: Chong A., and Lopez-de-Silanes F. (Eds). Investor protection and corporate governance: Firm level evidence across Latin America (2007), The World Bank-Stanford University Press, Washington, DC
    • (2007) Investor protection and corporate governance: Firm level evidence across Latin America
    • Bebczuk, R.1
  • 8
    • 25144475604 scopus 로고    scopus 로고
    • Ownership, pyramidal groups and the separation between ownership and control in Italy
    • Barca F., and Becht M. (Eds), Oxford University Press, New York
    • Bianchi M., Bianco M., and Enriques L. Ownership, pyramidal groups and the separation between ownership and control in Italy. In: Barca F., and Becht M. (Eds). The control of corporate Europe (2001), Oxford University Press, New York
    • (2001) The control of corporate Europe
    • Bianchi, M.1    Bianco, M.2    Enriques, L.3
  • 9
    • 33745787883 scopus 로고    scopus 로고
    • Does corporate governance predict firms' market values? Evidence from Korea
    • Black B.S., Jang H., and Kim W. Does corporate governance predict firms' market values? Evidence from Korea. Journal of Law, Economics, and Organization 22 (2006) 366-413
    • (2006) Journal of Law, Economics, and Organization , vol.22 , pp. 366-413
    • Black, B.S.1    Jang, H.2    Kim, W.3
  • 10
    • 85185434221 scopus 로고    scopus 로고
    • Bloch, F., & Hege, U. (2001). "Multiple Shareholders and Control Contest" Mimeo, HEC School of Management Paris, March.
    • Bloch, F., & Hege, U. (2001). "Multiple Shareholders and Control Contest" Mimeo, HEC School of Management Paris, March.
  • 14
    • 58549115422 scopus 로고    scopus 로고
    • Chong A., and Lopez-de-Silanes F. (Eds), The World Bank, Inter-American Development Bank, Stanford University Press, Washington DC
    • In: Chong A., and Lopez-de-Silanes F. (Eds). Investor Protection and Corporate Governance: Firm Level Evidence across Latin America (2007), The World Bank, Inter-American Development Bank, Stanford University Press, Washington DC
    • (2007) Investor Protection and Corporate Governance: Firm Level Evidence across Latin America
  • 15
    • 0042829594 scopus 로고    scopus 로고
    • The separation of ownership and control in East Asian Corporations
    • Claessens S., Djankov S., and Lang L. The separation of ownership and control in East Asian Corporations. Journal of Financial Economics 58 (2000) 81-112
    • (2000) Journal of Financial Economics , vol.58 , pp. 81-112
    • Claessens, S.1    Djankov, S.2    Lang, L.3
  • 16
    • 0000200532 scopus 로고    scopus 로고
    • Disentangling the incentive and entrenchment effects of large shareholdings
    • Claessens S., Djankov S., Fan J., and Lang L. Disentangling the incentive and entrenchment effects of large shareholdings. Journal of Finance 57 (2002) 2741-2771
    • (2002) Journal of Finance , vol.57 , pp. 2741-2771
    • Claessens, S.1    Djankov, S.2    Fan, J.3    Lang, L.4
  • 17
    • 32244438818 scopus 로고    scopus 로고
    • The benefits and costs of group affiliation: Evidence from East Asia
    • Claessens S., Djankov S., Fan J., and Lang L. The benefits and costs of group affiliation: Evidence from East Asia. Emerging Markets Review 7 (2006) 1-26
    • (2006) Emerging Markets Review , vol.7 , pp. 1-26
    • Claessens, S.1    Djankov, S.2    Fan, J.3    Lang, L.4
  • 18
    • 84935941592 scopus 로고
    • The structure of corporate ownership: Causes and consequences
    • Demsetz H., and Lehn K. The structure of corporate ownership: Causes and consequences. Journal of Political Economy 93 (1985) 1155-1177
    • (1985) Journal of Political Economy , vol.93 , pp. 1155-1177
    • Demsetz, H.1    Lehn, K.2
  • 19
    • 19944408608 scopus 로고    scopus 로고
    • To steal or not to steal: Firm attributes, legal environment, and valuation
    • Durnev A., and Kim E.H. To steal or not to steal: Firm attributes, legal environment, and valuation. The Journal of Finance 60 (2005) 1461-1493
    • (2005) The Journal of Finance , vol.60 , pp. 1461-1493
    • Durnev, A.1    Kim, E.H.2
  • 20
    • 0036334425 scopus 로고    scopus 로고
    • The ultimate ownership of western european corporations
    • Faccio M., and Lang L. The ultimate ownership of western european corporations. Journal of Financial Economics 65 (2002) 365-395
    • (2002) Journal of Financial Economics , vol.65 , pp. 365-395
    • Faccio, M.1    Lang, L.2
  • 21
    • 85185435329 scopus 로고    scopus 로고
    • Gomes, A., & Novaes, W. (2006). Sharing of control versus Monitoring as Corporate Governance Mechanisms. Mimeo, Washington University, May.
    • Gomes, A., & Novaes, W. (2006). Sharing of control versus Monitoring as Corporate Governance Mechanisms. Mimeo, Washington University, May.
  • 22
    • 58549115422 scopus 로고    scopus 로고
    • Corporate governance and firm valuation in colombia
    • Chong A., and Lopez-de-Silanes F. (Eds), The World Bank-Stanford University Press, Washington, DC
    • Gutiérrez L.H., and Pombo C. Corporate governance and firm valuation in colombia. In: Chong A., and Lopez-de-Silanes F. (Eds). Investor protection and corporate governance: Firm level evidence across Latin America (2007), The World Bank-Stanford University Press, Washington, DC
    • (2007) Investor protection and corporate governance: Firm level evidence across Latin America
    • Gutiérrez, L.H.1    Pombo, C.2
  • 24
    • 85185427095 scopus 로고    scopus 로고
    • Gutiérrez, M., & Tribó, J. A. (2004). Private Benefits Extraction in Closely-Held Corporations: The case for Multiple Large Shareholders. ECGI Finance Working Paper No 53.
    • Gutiérrez, M., & Tribó, J. A. (2004). Private Benefits Extraction in Closely-Held Corporations: The case for Multiple Large Shareholders. ECGI Finance Working Paper No 53.
  • 25
    • 45549118731 scopus 로고
    • Corporate governance: Voting rights and majority rules
    • Harris M., and Raviv A. Corporate governance: Voting rights and majority rules. Journal of Financial Economics 20 (1988) 203-235
    • (1988) Journal of Financial Economics , vol.20 , pp. 203-235
    • Harris, M.1    Raviv, A.2
  • 27
    • 85185427111 scopus 로고    scopus 로고
    • Holderness, C. G. (2006). A Contrarian View of Ownership Concentration in the United States and Around the World. Mimeo, Boston College, September.
    • Holderness, C. G. (2006). A Contrarian View of Ownership Concentration in the United States and Around the World. Mimeo, Boston College, September.
  • 28
    • 0000135434 scopus 로고
    • Theory of the firm: Managerial behavior, agency costs and ownership structure
    • Jensen M.C., and Meckling M. Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics 31 (1976) 3-24
    • (1976) Journal of Financial Economics , vol.31 , pp. 3-24
    • Jensen, M.C.1    Meckling, M.2
  • 34
    • 84878661992 scopus 로고    scopus 로고
    • Corporate governance, market valuation and payout policy in Chile
    • Chong A., and Lopez-de-Silanes F. (Eds), The World Bank-Stanford University Press, Washington, DC
    • Leffort F., and Walker E. Corporate governance, market valuation and payout policy in Chile. In: Chong A., and Lopez-de-Silanes F. (Eds). Investor protection and corporate governance: Firm Level evidence across Latin America (2007), The World Bank-Stanford University Press, Washington, DC
    • (2007) Investor protection and corporate governance: Firm Level evidence across Latin America
    • Leffort, F.1    Walker, E.2
  • 35
    • 31144447688 scopus 로고    scopus 로고
    • Multiple large shareholders and firm value
    • Maury B., and Pajuste A. Multiple large shareholders and firm value. Journal of Banking and Finance 29 (2005) 1813-1834
    • (2005) Journal of Banking and Finance , vol.29 , pp. 1813-1834
    • Maury, B.1    Pajuste, A.2
  • 36
    • 0009932851 scopus 로고    scopus 로고
    • The choice of stock ownership structure: Agency costs, monitoring, and the decision to go public
    • Pagano M., and Roell A. The choice of stock ownership structure: Agency costs, monitoring, and the decision to go public. Quarterly Journal of Economics 113 (1998) 187-225
    • (1998) Quarterly Journal of Economics , vol.113 , pp. 187-225
    • Pagano, M.1    Roell, A.2
  • 37
    • 84980092818 scopus 로고
    • Capital asset prices: A theory of market equilibrium under conditions of risk
    • Sharpe W.F. Capital asset prices: A theory of market equilibrium under conditions of risk. Journal of Finance 19 (1964) 425-442
    • (1964) Journal of Finance , vol.19 , pp. 425-442
    • Sharpe, W.F.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.