Export Behavior and Board Independence in Colombian Family Firms: The Reverse Causality Relationship

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dc.contributor.authorHerrera-Echeverri, Hernán
dc.contributor.authorGalli Geleilate, Jose
dc.contributor.authorGaitan-Riaño, Sandra
dc.contributor.authorHaar, Jerry
dc.contributor.authorSoto-Echeverry, Nidia
dc.contributor.eafitauthorhherrer2@eafit.edu.co
dc.contributor.eafitauthorsgaitanr@eafit.edu.co
dc.coverage.spatialMedellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degreeseng
dc.date.accessioned2016-06-11T23:46:42Z
dc.date.available2016-06-11T23:46:42Z
dc.date.issued2016-05-02
dc.description.abstractIn the context of greater market liberalization in Latin America, one issue that merits greater attention for empirical investigation is the international expansion of family-owned business. Specifically, the relationship between export behavior, family control and board composition in the Latin American context is absent in the literature. Using a large and unique database from Colombian firms (33,249 firms in the period of 2008 to 2013), we provide insightful information on the determinants of export behavior of family firms in emerging markets. Our empirical test confirms an endogenous relation between boards’ composition (specifically the presence of independent members) and export behavior in family firms. Firms with a higher participation of independent board members are more likely to exhibit higher levels of exports. A "virtuous cycle" was also detected whereby the introduction of independent members on the board can be expected to boost export behavior, which in turn will encourage the increase of independent members on the board of private firms.eng
dc.identifier.jelF20
dc.identifier.jelG39
dc.identifier.jelJ12
dc.identifier.urihttp://hdl.handle.net/10784/8567
dc.language.isoengeng
dc.publisherUniversidad EAFITspa
dc.publisher.departmentEscuela de Economía y Finanzasspa
dc.rights.accessrightsinfo:eu-repo/semantics/openAccesseng
dc.rights.localAcceso abiertospa
dc.subject.keywordexport behaviorspa
dc.subject.keywordfamily firmsspa
dc.subject.keywordcorporate boardsspa
dc.subject.keywordColombiaspa
dc.titleExport Behavior and Board Independence in Colombian Family Firms: The Reverse Causality Relationshipeng
dc.typeworkingPapereng
dc.typeinfo:eu-repo/semantics/workingPapereng
dc.type.hasVersiondrafteng
dc.type.localDocumento de trabajo de investigaciónspa

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