Business Commons^™

Corporate Governance And Expropriation Of Minority Shareholders' Rights: Evidence From Latin America, Marisela Santiago-Castro

Theses and Dissertations - UTB/UTPA

The dissertation empirically examines whether the internal corporate governance mechanisms of the firms represented in Latin American equity markets lead to the expropriation of minority shareholders' rights; and whether such expropriation leads to economic underperformance. Specifically, the dissertation answers the following: Is there a relationship between the board of director's characteristics and the expropriation of minority shareholders rights in Latin American firms? Is there a relationship between the ownership structure of Latin American firms and the expropriation of minority shareholders rights? Moreover, does the expropriation of minority shareholders rights lead to economic underperformance among Latin American firms?

Several hypotheses were …

Three Essays On The Use Of Financial Derivatives By Latin American Banks In Brazil, Chile And Mexico, Andres E. Rivas-Chavez

Theses and Dissertations - UTB/UTPA

During the 1990s, Latin American countries implemented policies aimed at liberalizing their financial markets. Latin American countries deregulated the domestic financial and banking industries, removed controls on international capital flows, and promoted development of their domestic stock market. These countries implemented financial liberalization policies and programs in order to stimulate domestic savings and growth. Through financial liberalization they also attempted to reduce the direct intervention of the state in the economy and improve their financial infrastructure.

The implementation of such policies has led to an increase in capital flows to Latin America, an increase in the number of foreign banks, …

Ownership Variables And Capital Structure: Evidence From Chile, Suad Ghaddar

Theses and Dissertations - UTB/UTPA

The relationship between ownership structure and capital structure is one of the less understood areas within the corporate finance literature. This study attempts to address this issue within a unique; organizational and institutional framework that may help explain the intricacies of such a relationship. The Chilean corporate scene with its high ownership concentration levels, industrial group structure, and familial control provides a rich testing ground to analyze how ownership variables define a firm's leverage policy.

Research has supported both a positive and a negative relationship between ownership concentration and leverage levels. On the one hand, firms characterized by high levels …

Manipulating Ethos And Pathos: Accents, Product Complexity, And Promotional Messages In Chile, Victor Ramon Davila

Theses and Dissertations - UTB/UTPA

This dissertation is motivated by fundamental questions about source effects in persuasive communications: Do receiver attributes influence perceptions about the source and about the object of the message? Do source and object cues influence receiver perceptions about the source? Do source and object cues influence receiver perceptions about the object of the message?

Traditional conceptions of receiver responses to a source have focused on character trait inferences. Of these character trait inferences, the literature on source credibility appears to converge on two categories: source expertise and source trustworthiness. A more recent stream of research has grown around the concept of …

Spillover Effects On Latin American Equity Markets: The Case Of Adrs And Non-Adr Firms, Roberto Jairo Curci-Berrio

Theses and Dissertations - UTB/UTPA

The development of the American Depositary Receipt (ADR) market allows investors desiring to diversify in Latin America to follow three diversification strategies. First, they may invest in Latin American firms traded through ADRs in the U.S. equity market. Second, they may invest in the underlying stocks of Latin American ADRs traded in Latin American stock exchanges. Third, investors may invest in Latin American firms not cross-listed; hereafter called non-ADR firms, and traded in Latin American stock exchanges. This dissertation contributes to the current literature by investigating whether U.S. and Latin American investors improve portfolio performance by investing in ADR or …