GOBIERNO CORPORATIVO: ¿QUE ES? Y ¿COMO ANDAMOS POR CASA?

Abstract

This paper presents a simple framework in order to analyze different corporate governance mechanisms and their impact on firm structures and performance. Based on recent literature on the subject, the paper discusses the validity of Demsetz's evolution hypothesis on corporate governance structures and compares it to other hypothesis based on the recent empirical evidence at the international level.Specifically, the paper discusses the role of legal and regulatory systems in conditioning the development of different corporate governance structures.The paper emphasizes the issues related to corporate structure and governance in emerging economies.The paper also discusses the exogenous factors, such as regulations, that may help governance practices in the Chilean economy.In this context, the papers summarizes and discusses the growing literature on corporate governance and structure in Chile.RESUMEN Este artículo busca estructurar un marco conceptual sencillo que permita ordenar la discusión acerca de las diferentes formas de gobierno corporativo y de su efecto sobre la estructura y desempeño de las empresas.Basándose en la literatura reciente, el artículo discute la validez de la hipótesis de que en el largo plazo sobreviven las estructuras que tienden a mejorar el desempeño de las empresas y la compara con otras hipótesis alternativas tanto a nivel teórico como a la luz de la evidencia empírica.En particular, se discute el significativo

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