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URI permanente para esta colecciónhttps://hdl.handle.net/20.500.12640/4067
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Ítem Acceso Abierto Copeinca: a hostile takeover(Asociación de Directivos Superiores de Administración, Negocios o Empresariales de Chile A.G. (ASFAE), 2017-05-03) Cueto, Diego C.This article presents the dilemma faced by real investors with the emergence of a takeover bid on an existing company. The private benefits that accrue from control mean that defence mechanisms are deployed in the event of a takeover that is considered to be hostile. The article has been written with the sole intention of providing an educational case study for the teaching of Mergers and Acquisitions and Corporate Governance. The character Ricky Spanish is fictional and does not disguise the identity of any real investor. Local press articles and official documents such as company information prospectuses were examined during the preparation of the case study. The facts presented are accurate but the article is not intended to be a work of history. Theory-based analysis permits an approach to the problem of assessed value, which is contrasted with market value. Different scenarios and alternative viewpoints are presented to allow readers to draw their own conclusions. It is observed that the founding family, board members, company executives and press all fail to understand that the company is no longer owned exclusively by its founders. There is a lack of clarity concerning appropriate ways to deal with conflicts of interest between majority and minority shareholders. In markets characterized by decidedly concentrated ownership structures, it is very unlikely that hostile takeovers will occur. The case study identifies the principal benefits and risks faced by investors in a company from a medium income country that cross lists in developed markets.Ítem Acceso Abierto Gobierno corporativo en mercados emergentes: impacto en la Bolsa de Valores de Lima - BVL(Georgetown University, 2016-11-09) Burneo Farfan, Kurt; Lizarzaburu, Edmundo R.Nowadays, the international financial landscape has undergone several developments with systemic implications, such as the financial crisis of 2007 and 2008, the slowdown in China (2014 to date), the contraction of the BRICS (2013 to date ), among others, as fundamental to the future of the economies is the performance of firms, it happens that behind these events happen several factors, one of them, poor implementation of good practices and corporate governance and this has led to that the international community put emphasis on ways of conducting business transactions. NGuyen & Xiangkang (2015) state that the main evidence of the effects of not implementing good corporate governance practices are tangibly evident in those countries which have now been multiplied their productivity, already affected by the Subprime Crisis. This work aims to try to answer the question of whether indeed the application of the principles of good corporate governance would have the effect, differentially favorable results with respect to those entities that did not apply these.Ítem Acceso Abierto Grupos de interés en mercado emergentes: sistema bancario(Politécnico Grancolombiano, 2016-06-02) Lizarzaburu, Edmundo; Arbaiza, Lydia; Del Brío, JesúsThis article compares the management of diverse administration strategies of stakeholders in two lead-ing banks in Peru and Colombia. We took into account the hypotheses of several authors during 1985 and 2013 in order to have a big scope of the manage-ment of different interest groups and companies. In addition, we revised the literature regarding the influence interest groups have on the operations of the companies. Finally, we analyze the importance of stakeholders regarding corporate decision making within a financial context in developing countries.Ítem Acceso Abierto Gobierno corporativo en el sector bancario de una economía emergente(Georgetown University, 2019-03-29) Lizarzaburu, Edmundo R.; Burneo, Kurt; Barriga, Gabriela; Noriega, LuisThe purpose of this research is to measure the relationship between the application of good corporate governance practices in relation to the economic value of listed banks in an emerging market such as the Lima Stock Exchange, given the growing importance of corporate governance, and in the absence of empirical evidence on banks in emerging markets. The methodology used employs a model that evaluates the Tobin's Q, leverage ratios, portfolio quality, efficiency and return on assets (ROA) and the dichotomous variable with respect to the incorporation into the Good Corporate Governance Index of the stock exchange. Lima, considering a temporality from 2011 to 2016.Ítem Acceso Abierto Corporate governance in emerging markets and its impact on finance performance(Virtus Interpress, 2014) Lizarzaburu Bolaños, Edmundo; Berggrun, Luis; Burneo Farfan, Kurt JohnnyThis paper reviews the theoretical framework of Corporate Governance and multiple issues in which it is evaluated such as agency costs, asymmetric information, insider trading, manipulation of earnings, Board of Directors, etc. Finally, it is reviewed the impact of Corporate Governance over cost of equity, capital structure and financial performance.
