Based on the agency theory, this paper analyzes whether family firms pay more dividends compared to no-family firms and identifies whether the board composition affects the dividend policy. Brazil and Chile have established mandatory dividends, retain lower cash holdings, pay higher dividends...

This study questions the new Corporate Governance legislations´ immediate effects on firm performance, for corporates listed in the industrial sector both in Chile and Mexico. It is concluded that these are not significant (within countries), although the positive firm effect in Chile is...