Size and independence of the board of directors and its relationship with economic performance: an analysis for family and non-family businesses
| dc.citation.epage | 23 | |
| dc.citation.issue | 31 | |
| dc.citation.journalAbbreviatedTitle | AD-minister | eng |
| dc.citation.journalTitle | AD-minister | eng |
| dc.citation.spage | 5 | |
| dc.contributor.affiliation | INALDE Business School | spa |
| dc.contributor.affiliation | Grupo de Estudios Económicos y Financieros | spa |
| dc.contributor.affiliation | Superintendencia de Sociedades | spa |
| dc.contributor.affiliation | Legacy and Management Consulting Group | spa |
| dc.contributor.author | Lagos Cortés, Diógenes | |
| dc.contributor.author | Soto Echeverry, Nidia Costanza | |
| dc.contributor.author | Betancourt Ramírez, José Bernardo | |
| dc.contributor.author | Enríquez Yagüe, Julián Oswaldo | |
| dc.contributor.author | Gómez Betancourt, Gonzalo | |
| dc.date | 2017-10-31 | |
| dc.date.accessioned | 2018-11-08T18:50:54Z | |
| dc.date.available | 2018-11-08T18:50:54Z | |
| dc.date.issued | 2017-10-31 | |
| dc.description | The purpose of this research paper is to determine the effect of the size and independence of the board of directors on economic performance of family and non-family businesses in Colombia. The relationship was analyzed using regression models in a balanced panel data based on three aspects (size and independence of the board of directors and family nature of the company). The sample comprised 2,170 observations (310 businesses a year) between 2008 and 2014. It was found that: (i) the size of the board of directors has a negative influence on the ROA, ROE in the family companies; (ii) there is a positive influence from the independent members of the board of directors in the operatingincome (OI) for both family and non-family businesses; and (iii) the family nature shows a positive influence in the ROA indicator; however, the relationship is negative when they are first-generation family businesses. On the basis of the empirical findings, it is suggested that the control entities promote campaigns to disseminate the impact of the board of directors and the adequate role of independent members on the companies’ performance, and entrepreneurs are welcomed to implement good corporate governance practices. | eng |
| dc.description | El objetivo de este trabajo es determinar el efecto del tamaño y la independencia de la junta directivaen el desempeño económico en empresas familiares y no familiares colombianas. La relación se analizómediante modelos de regresión en un panel de datos balanceado, para ello se analizaron tres aspectos(tamaño e independencia de la junta directiva y carácter familiar de la empresa). La muestra comprendió2,170 observaciones (310 empresas cada año) durante el período 2008-2014. Se encontró que: i) eltamaño de la junta directiva influye en sentido negativo en el ROA y el ROE en las empresas familiares;ii) hay influencia positiva de los miembros independientes de la junta directiva en los ingresos operacionales(IO), tanto para empresas familiares como para las no familiares, y iii) existe influencia positivadel carácter familiar en el indicador ROA; no obstante, la relación es negativa cuando son empresasfamiliares de primera generación. Con base en los hallazgos empíricos se propone a los entes de controlpromover campañas para difundir el impacto de la junta directiva y del adecuado rol de los miembrosindependientes en el desempeño de las empresas y se invita a los empresarios a aplicar mejores prácticasde gobierno corporativo. | spa |
| dc.format | application/pdf | |
| dc.format | text/html | |
| dc.identifier.doi | 10.17230/ad-minister.31.1 | |
| dc.identifier.issn | 2256-4322 | |
| dc.identifier.issn | 1692-0279 | |
| dc.identifier.uri | http://hdl.handle.net/10784/13092 | |
| dc.language.iso | spa | |
| dc.publisher | Universidad EAFIT | spa |
| dc.relation.isversionof | http://publicaciones.eafit.edu.co/index.php/administer/article/view/4929 | |
| dc.relation.uri | http://publicaciones.eafit.edu.co/index.php/administer/article/view/4929 | |
| dc.rights | Copyright (c) 2017 AD-minister | eng |
| dc.rights.accessrights | info:eu-repo/semantics/openAccess | eng |
| dc.rights.local | Acceso abierto | spa |
| dc.source | reponame:Repositorio Institucional Universidad EAFIT | |
| dc.source | instname:Universidad EAFIT | |
| dc.source | AD-minister; No 31 (2017); 5-23 | eng |
| dc.subject | G30 | |
| dc.subject | G34 | |
| dc.subject.keyword | Corporate governance | eng |
| dc.subject.keyword | Family business | eng |
| dc.subject.keyword | Size of the board | eng |
| dc.subject.keyword | Independence | eng |
| dc.subject.keyword | Economic performance | eng |
| dc.subject.keyword | Gobierno corporativo | spa |
| dc.subject.keyword | Empresa familiar | spa |
| dc.subject.keyword | Tamaño de junta | spa |
| dc.subject.keyword | Independencia | spa |
| dc.subject.keyword | Desempeño financiero | spa |
| dc.title | Size and independence of the board of directors and its relationship with economic performance: an analysis for family and non-family businesses | eng |
| dc.title | Tamaño e independencia de la junta directiva y su relación con el desempeño económico: un análisis para empresas familiares y no familiares | spa |
| dc.type | info:eu-repo/semantics/article | eng |
| dc.type | info:eu-repo/semantics/publishedVersion | eng |
| dc.type | article | eng |
| dc.type | publishedVersion | eng |
| dc.type.local | Artículo | spa |
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