CUERVO-CAZURRA, Alvaro; DAU, Luis Alfonso - William Davidson Institute, University of Michigan - 2008
because the improvements in external monitoring that accompany structural reform decrease the agency costs faced by firms … domestic private firms than it does for subsidiaries of foreign firms. Results of the analyses of the largest 500 firms in … Latin America support the arguments, suggesting that, contrary to the views of many critics of globalization, domestic firms …