Size and independence of the board of directors and its relationship with economic performance: an analysis for family and non-family businesses
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 an...
- Autores:
-
Lagos Cortés, Diógenes
Soto Echeverry, Nidia Costanza
Betancourt Ramírez, José Bernardo
Enríquez Yagüe, Julián Oswaldo
Gómez Betancourt, Gonzalo
- Tipo de recurso:
- Fecha de publicación:
- 2017
- Institución:
- Universidad EAFIT
- Repositorio:
- Repositorio EAFIT
- Idioma:
- spa
- OAI Identifier:
- oai:repository.eafit.edu.co:10784/13092
- Acceso en línea:
- http://hdl.handle.net/10784/13092
- Palabra clave:
- G30
G34
Corporate governance
Family business
Size of the board
Independence
Economic performance
Gobierno corporativo
Empresa familiar
Tamaño de junta
Independencia
Desempeño financiero
- Rights
- License
- Copyright (c) 2017 AD-minister
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|
dc.title.eng.fl_str_mv |
Size and independence of the board of directors and its relationship with economic performance: an analysis for family and non-family businesses |
dc.title.spa.fl_str_mv |
Tamaño e independencia de la junta directiva y su relación con el desempeño económico: un análisis para empresas familiares y no familiares |
title |
Size and independence of the board of directors and its relationship with economic performance: an analysis for family and non-family businesses |
spellingShingle |
Size and independence of the board of directors and its relationship with economic performance: an analysis for family and non-family businesses G30 G34 Corporate governance Family business Size of the board Independence Economic performance Gobierno corporativo Empresa familiar Tamaño de junta Independencia Desempeño financiero |
title_short |
Size and independence of the board of directors and its relationship with economic performance: an analysis for family and non-family businesses |
title_full |
Size and independence of the board of directors and its relationship with economic performance: an analysis for family and non-family businesses |
title_fullStr |
Size and independence of the board of directors and its relationship with economic performance: an analysis for family and non-family businesses |
title_full_unstemmed |
Size and independence of the board of directors and its relationship with economic performance: an analysis for family and non-family businesses |
title_sort |
Size and independence of the board of directors and its relationship with economic performance: an analysis for family and non-family businesses |
dc.creator.fl_str_mv |
Lagos Cortés, Diógenes Soto Echeverry, Nidia Costanza Betancourt Ramírez, José Bernardo Enríquez Yagüe, Julián Oswaldo Gómez Betancourt, Gonzalo |
dc.contributor.author.none.fl_str_mv |
Lagos Cortés, Diógenes Soto Echeverry, Nidia Costanza Betancourt Ramírez, José Bernardo Enríquez Yagüe, Julián Oswaldo Gómez Betancourt, Gonzalo |
dc.contributor.affiliation.spa.fl_str_mv |
INALDE Business School Grupo de Estudios Económicos y Financieros Superintendencia de Sociedades Legacy and Management Consulting Group |
dc.subject.none.fl_str_mv |
G30 G34 |
topic |
G30 G34 Corporate governance Family business Size of the board Independence Economic performance Gobierno corporativo Empresa familiar Tamaño de junta Independencia Desempeño financiero |
dc.subject.keyword.eng.fl_str_mv |
Corporate governance Family business Size of the board Independence Economic performance |
dc.subject.keyword.spa.fl_str_mv |
Gobierno corporativo Empresa familiar Tamaño de junta Independencia Desempeño financiero |
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. |
publishDate |
2017 |
dc.date.issued.none.fl_str_mv |
2017-10-31 |
dc.date.available.none.fl_str_mv |
2018-11-08T18:50:54Z |
dc.date.accessioned.none.fl_str_mv |
2018-11-08T18:50:54Z |
dc.date.none.fl_str_mv |
2017-10-31 |
dc.type.eng.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion article publishedVersion |
dc.type.coarversion.fl_str_mv |
http://purl.org/coar/version/c_970fb48d4fbd8a85 |
dc.type.coar.fl_str_mv |
http://purl.org/coar/resource_type/c_6501 http://purl.org/coar/resource_type/c_2df8fbb1 |
dc.type.local.spa.fl_str_mv |
Artículo |
status_str |
publishedVersion |
dc.identifier.issn.none.fl_str_mv |
2256-4322 1692-0279 |
dc.identifier.uri.none.fl_str_mv |
http://hdl.handle.net/10784/13092 |
dc.identifier.doi.none.fl_str_mv |
10.17230/ad-minister.31.1 |
identifier_str_mv |
2256-4322 1692-0279 10.17230/ad-minister.31.1 |
url |
http://hdl.handle.net/10784/13092 |
dc.language.iso.none.fl_str_mv |
spa |
language |
spa |
dc.relation.isversionof.none.fl_str_mv |
http://publicaciones.eafit.edu.co/index.php/administer/article/view/4929 |
dc.relation.uri.none.fl_str_mv |
http://publicaciones.eafit.edu.co/index.php/administer/article/view/4929 |
dc.rights.eng.fl_str_mv |
Copyright (c) 2017 AD-minister |
dc.rights.coar.fl_str_mv |
http://purl.org/coar/access_right/c_abf2 |
dc.rights.local.spa.fl_str_mv |
Acceso abierto |
rights_invalid_str_mv |
Copyright (c) 2017 AD-minister Acceso abierto http://purl.org/coar/access_right/c_abf2 |
dc.format.none.fl_str_mv |
application/pdf text/html |
dc.publisher.spa.fl_str_mv |
Universidad EAFIT |
dc.source.none.fl_str_mv |
reponame:Repositorio Institucional Universidad EAFIT instname:Universidad EAFIT |
dc.source.eng.fl_str_mv |
AD-minister; No 31 (2017); 5-23 |
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Universidad EAFIT |
institution |
Universidad EAFIT |
reponame_str |
Repositorio Institucional Universidad EAFIT |
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spelling |
2017-10-312018-11-08T18:50:54Z2017-10-312018-11-08T18:50:54Z2256-43221692-0279http://hdl.handle.net/10784/1309210.17230/ad-minister.31.1The 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.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.application/pdftext/htmlspaUniversidad EAFIThttp://publicaciones.eafit.edu.co/index.php/administer/article/view/4929http://publicaciones.eafit.edu.co/index.php/administer/article/view/4929Copyright (c) 2017 AD-ministerAcceso abiertohttp://purl.org/coar/access_right/c_abf2reponame:Repositorio Institucional Universidad EAFITinstname:Universidad EAFITAD-minister; No 31 (2017); 5-23G30G34Corporate governanceFamily businessSize of the boardIndependenceEconomic performanceGobierno corporativoEmpresa familiarTamaño de juntaIndependenciaDesempeño financieroSize and independence of the board of directors and its relationship with economic performance: an analysis for family and non-family businessesTamaño e independencia de la junta directiva y su relación con el desempeño económico: un análisis para empresas familiares y no familiaresinfo:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionarticlepublishedVersionArtículohttp://purl.org/coar/version/c_970fb48d4fbd8a85http://purl.org/coar/resource_type/c_6501http://purl.org/coar/resource_type/c_2df8fbb1Lagos Cortés, DiógenesSoto Echeverry, Nidia CostanzaBetancourt Ramírez, José BernardoEnríquez Yagüe, Julián OswaldoGómez Betancourt, GonzaloINALDE Business SchoolGrupo de Estudios Económicos y FinancierosSuperintendencia de SociedadesLegacy and Management Consulting GroupAD-minister31523AD-ministerORIGINALarticulo.htmlarticulo.htmlTexto completo HTMLtext/html374https://repository.eafit.edu.co/bitstreams/000e244d-539c-466f-9885-bc1546d27b54/download822e7154e642becc9b317cd89f854799MD51Size and independence of the board of directors and its relationship with economic performance an analysis for family and non-family businesses.pdfSize and independence of the board of directors and its relationship with economic performance an analysis for family and non-family businesses.pdfTexto completo PDFapplication/pdf672086https://repository.eafit.edu.co/bitstreams/92d05e32-6a49-4993-aa90-d75e27e6c964/downloaddb89510c965338685bd10382831b7b2dMD53THUMBNAILminiatura-administer.jpgminiatura-administer.jpgimage/jpeg8755https://repository.eafit.edu.co/bitstreams/58a706ff-e2f7-4b61-92d8-f03009ff66b1/download87c28d32b620f3408b1c70a3c505fbd8MD5210784/13092oai:repository.eafit.edu.co:10784/130922019-12-05 10:08:41.908open.accesshttps://repository.eafit.edu.coRepositorio Institucional Universidad EAFITrepositorio@eafit.edu.co |