Open AccessDOI
Empresas familiares: revisión de la literatura desde una perspectiva de agencia
Maximiliano González Ferrero,Alexander Guzmán Vásquez,Carlos Pombo Bejarano,María Andrea Trujillo Dávila +3 more
- Vol. 23, Iss: 40, pp 11-33
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TLDR
This article present a revision comprehensiva de la literatura financiera alrededor de los principales estudios relacionados con las empresas familiares.Abstract:
En este articulo se presenta una revision comprehensiva de la literatura financiera alrededor de los principales estudios relacionados con las empresas familiares. La revision, hecha desde la teoria de agencia, enmarca la estructura de propiedad familiar dentro de los principales problemas de agencia que surgen entre gerentes y propietarios, gerentes y tenedores de deuda y accionistas mayoritarios y minoritarios. Se revisan tres decadas de articulos relacionados con las empresas familiares y publicados en las principales revistas financieras. Esta mirada a la literatura evidencia un campo de investigacion en construccion, poco explorado en America Latina, en el que se hace necesario un mayor contraste empirico para entender la estructura de propiedad familiar alrededor del mundo. Al finalizar se propone una agenda de investigacion en empresas familiares fundamentada en temas como el desempeno financiero, el papel de los herederos, la estructura de endeudamiento, la composicion de las juntas directivas, el impacto de los costos de agencia sobre el costo de capital y los beneficios privados del control.read more
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Estudio sobre el desempeño de las empresas familiares colombianas que cotizan en la bolsa de valores, frente a las empresas no familiares
Gonzalo Gómez-Betancourt,María Piedad López Vergara,José Bernardo Betancourt Ramírez,Javier Olmedo Millán Payán +3 more
TL;DR: The authors presenta una comparación entre el desempeno entre 84 empresas familiares (EF) and no familias (ENF) that cotizan en la Bolsa de Valores de Valore de Chile.
Journal ArticleDOI
Estudios de rendimiento en las empresas de familia. Una nueva perspectiva
TL;DR: In this article, a revision sistematica de articulos, seleccionados with criterios claramente definidos in las bases of datos mas relevantes en las ciencias sociales, con el fin of comprobar si esta relacion is positiva or negativa.
Journal ArticleDOI
Los modelos basados en el CAPM valoran adecuadamente los emprendimientos familiares
TL;DR: The pertinencia de the VPN-CAPM model en valorar emprendimientos familiares (EPF) was mostraviente en as discussed by the authors, with respect to the fact that the mayoria de los supuestos del CAPM no se ajustan a las caracteristicas de los EPF; ademas, no se dispone de un modelo teorico robusto que permita valorarlos.
Journal ArticleDOI
BFE Model—Business, Family and Environment—As Subsystems of the Family-Owned Business in Mexico City Metropolitan Area
Omar de la Cruz Vicente,Verónica Itzel López Castro,Leovardo Mata Mata,Fernando Tomé Bermejo +3 more
TL;DR: In this article, the authors proposed a model starting from the Three-Circle Model, based on the reality of the small and medium-sized family business sector in the Mexico City Metropolitan Area.
Retribución de los empleados en la empresa familiar: un análisis comparativo regional España-México
TL;DR: This article examined the retribucion of empleados of base in empresas familiares pertenecientes a two regiones of Spain and Mexico, a partir de las diferencias culturales of ambos paises.
References
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TL;DR: The authors argue that the separation of decision and risk-bearing functions observed in large corporations is common to other organizations such as large professional partnerships, financial mutuals, and nonprofits. But they do not consider the role of decision agents in these organizations.
Posted Content
A Survey of Corporate Governance
TL;DR: The authors surveys research on corporate governance, with special attention to the importance of legal protection of investors and of ownership concentration in corporate governance systems around the world, and presents a survey of the literature.
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TL;DR: In this article, the authors predict that corporate borrowing is inversely related to the proportion of market value accounted for by real options and rationalize other aspects of corporate borrowing behavior, such as the practice of matching maturities of assets and debt liabilities.
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TL;DR: Corporate Governance as mentioned in this paper surveys research on corporate governance, with special attention to the importance of legal protection of investors and of ownership concentration in corporate governance systems around the world, and shows that most advanced market economies have solved the problem of corporate governance at least reasonably well, in that they have assured the flows of enormous amounts of capital to firms, and actual repatriation of profits to the providers of finance.