This paper examines the relationship between firm value and blockholders in Latin America. Econometric results for a comprehensive data set of more than 550 firms listed in the six largest stock markets of the region support a positive effect of variables measuring the existence, contestability,...

This paper studies the separation of ownership and control of 108 listed companies in Colombia from 1996 to 2002, finding that voting rights are greater than cash flow rights because of indirect ownership across firms. The paper also examines the association of various ownership and control...

This paper analyzes the effects of diversity of boards of directors' human and relational capital on the performance of firms in Latin America. Using a large database of 442 firms in 6 countries (Argentina, Brazil, Chile, Colombia, Mexico, and Peru) from 2001 to 2012, we construct a Board...

This paper studies the separation of ownership and control of 108 listed companies in Colombia from 1996 to 2002, finding that voting rights are greater than cash flow rights because of indirect ownership across firms. The paper also examines the association of various ownership and control...

Blockholders presence is a common attribute of modern corporations around the world. This work studies the effect of the presence of multiple blockholder in firm valuation for a sample of Latin American firms. To this effect, several measures of control contestability were constructed. Using OLS...