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Board independence; business profitability; Chile; corporate finance and governance; Mexico
This paper examines the effect of Board independence on the profitability of non-financial companies listed in Mexico and Chile from 2009 to 2016. It examines the impact on financial performance of the percentage of independent Board members and their tenure, which is evaluated considering ownership concentration. Based on dynamic panel models, the study concludes that the degree of independence does not favor business results, regardless of the concentration of ownership. However, the tenure of independent directors does have a negative impact on the performance of these firms. The results obtained question the legal requirements related to corporate governance for the companies listed in Latin America and suggest empirical lines of research that encourage identifying effective checks and balances for these companies. © 2022 Universidad Católica de Colombia. Facultad de Ciencias Económicas y Administrativas. Todos los derechos reservados.
Board Independence, Ownership Concentration, and Profitability of Listed Firms in Mexico and Chile [Independencia de los Consejos de Administración, concentración de la propiedad y rentabilidad de las empresas listadas en México y Chile]
Generically Dependent Continuant
RDF description of Board Independence, Ownership Concentration, and Profitability of Listed Firms in Mexico and Chile [Independencia de los Consejos de Administración, concentración de la propiedad y rentabilidad de las empresas listadas en México y Chile] - http://orbis.uaslp.mx/vivo/individual/scopus10470
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