Efectos de la corporatización en el desempeño de las empresas estatales no financieras en Latinoamérica durante los años 1999 a 2018
ilustraciones
- Autores:
-
Arias Bello, Martha Liliana
- Tipo de recurso:
- Doctoral thesis
- Fecha de publicación:
- 2022
- Institución:
- Universidad Nacional de Colombia
- Repositorio:
- Universidad Nacional de Colombia
- Idioma:
- spa
- OAI Identifier:
- oai:repositorio.unal.edu.co:unal/84008
- Palabra clave:
- 330 - Economía::336 - Finanzas públicas
350 - Administración pública y ciencia militar::354 - Administración pública de la economía y el medio ambiente
H82 Governmental Property
Corporatización
Eficiencia
Empresas de Propiedad del Estado
Gobierno Corporativo
Latinoamérica
Privatización
Corporate governance
Corporatization
Efficiency
Latin America
Privatization
State-owned enterprises
Empresa pública
Política económica
Productividad industrial
Public enterprises
Economic policy
Industrial productivity
- Rights
- openAccess
- License
- Atribución-NoComercial 4.0 Internacional
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Efectos de la corporatización en el desempeño de las empresas estatales no financieras en Latinoamérica durante los años 1999 a 2018 |
| dc.title.translated.eng.fl_str_mv |
Effects of corporatization on the performance of non-financial state-owned enterprises in Latin America during the years 1999 to 2018 |
| title |
Efectos de la corporatización en el desempeño de las empresas estatales no financieras en Latinoamérica durante los años 1999 a 2018 |
| spellingShingle |
Efectos de la corporatización en el desempeño de las empresas estatales no financieras en Latinoamérica durante los años 1999 a 2018 330 - Economía::336 - Finanzas públicas 350 - Administración pública y ciencia militar::354 - Administración pública de la economía y el medio ambiente H82 Governmental Property Corporatización Eficiencia Empresas de Propiedad del Estado Gobierno Corporativo Latinoamérica Privatización Corporate governance Corporatization Efficiency Latin America Privatization State-owned enterprises Empresa pública Política económica Productividad industrial Public enterprises Economic policy Industrial productivity |
| title_short |
Efectos de la corporatización en el desempeño de las empresas estatales no financieras en Latinoamérica durante los años 1999 a 2018 |
| title_full |
Efectos de la corporatización en el desempeño de las empresas estatales no financieras en Latinoamérica durante los años 1999 a 2018 |
| title_fullStr |
Efectos de la corporatización en el desempeño de las empresas estatales no financieras en Latinoamérica durante los años 1999 a 2018 |
| title_full_unstemmed |
Efectos de la corporatización en el desempeño de las empresas estatales no financieras en Latinoamérica durante los años 1999 a 2018 |
| title_sort |
Efectos de la corporatización en el desempeño de las empresas estatales no financieras en Latinoamérica durante los años 1999 a 2018 |
| dc.creator.fl_str_mv |
Arias Bello, Martha Liliana |
| dc.contributor.advisor.spa.fl_str_mv |
Gómez Villegas, Mauricio |
| dc.contributor.author.spa.fl_str_mv |
Arias Bello, Martha Liliana |
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Arias Bello, Martha Liliana [0000000155403980] |
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Arias Bello, Martha Liliana [https://scienti.minciencias.gov.co/cvlac/visualizador/generarCurriculoCv.do?cod_rh=0000501689] |
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Arias Bello, Martha Liliana [https://scholar.google.com/citations?user=pddv56MAAAAJ&hl=es] |
| dc.subject.ddc.spa.fl_str_mv |
330 - Economía::336 - Finanzas públicas 350 - Administración pública y ciencia militar::354 - Administración pública de la economía y el medio ambiente |
| topic |
330 - Economía::336 - Finanzas públicas 350 - Administración pública y ciencia militar::354 - Administración pública de la economía y el medio ambiente H82 Governmental Property Corporatización Eficiencia Empresas de Propiedad del Estado Gobierno Corporativo Latinoamérica Privatización Corporate governance Corporatization Efficiency Latin America Privatization State-owned enterprises Empresa pública Política económica Productividad industrial Public enterprises Economic policy Industrial productivity |
| dc.subject.jel.eng.fl_str_mv |
H82 Governmental Property |
| dc.subject.proposal.spa.fl_str_mv |
Corporatización Eficiencia Empresas de Propiedad del Estado Gobierno Corporativo Latinoamérica Privatización |
| dc.subject.proposal.eng.fl_str_mv |
Corporate governance Corporatization Efficiency Latin America Privatization State-owned enterprises |
| dc.subject.unesco.spa.fl_str_mv |
Empresa pública Política económica Productividad industrial |
| dc.subject.unesco.eng.fl_str_mv |
Public enterprises Economic policy Industrial productivity |
| description |
ilustraciones |
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2022 |
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2022 |
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2023-06-13T19:32:00Z |
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2023-06-13T19:32:00Z |
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Trabajo de grado - Doctorado |
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info:eu-repo/semantics/doctoralThesis |
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Universidad Nacional de Colombia |
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Repositorio Institucional Universidad Nacional de Colombia |
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Combining theories of agency and stewardship through behavioral characteristics. Management Research Review, Vol. 43 No. 8, pp. 989-1011. https://doi.org/10.1108/MRR-07-2019-0317 Ocampo, J., & Bértola, L. (2013). El Desarrollo Económico de América Latina desde la Independencia. Fondo de Cultura Económica, México. Organización para la Cooperación y el Desarrollo Económico (OCDE). (2011). Directrices de la OCDE sobre el Gobierno Corporativo de las Empresas Públicas. Paris: OCDE. https://www.oecd.org/daf/ca/corporategovernanceofstate-ownedenterprises/48632643.pdf Organización para la Cooperación y el Desarrollo Económico (OCDE). (2012). OECD Integrity Review of Brazil - Managing Risks for a Cleaner Public Service. https://doi.org/10.1787/9789264119321-en Organización para la Cooperación y el Desarrollo Económico (OCDE). (2013). Colombia: Implementing Good Governance. https://doi.org/10.1787/9789264202177-en Organización para la Cooperación y el Desarrollo Económico (OCDE). (2014). Chile's Supreme Audit Institution. Enhancing Strategic Agility and Public Trust. https://doi.org/10.1787/9789264207561-en Organización para la Cooperación y el Desarrollo Económico (OCDE). (2015). Directrices de la OCDE sobre el Gobierno Corporativo de las Empresas Públicas. https://www.oecd.org/daf/directrices-de-la-ocde-sobre-el-gobierno-corporativo-de-las-empresas-publicas-edicion-2015-9789264258167-es.htm Organización para la Cooperación y el Desarrollo Económico (OCDE). (2016). State-Owned Enterprises as Global Competitors: A Challenge or an Opportunity?, OECD Publishing, Paris. http://doi.org/10.1787/9789264262096-en Organización para la Cooperación y el Desarrollo Económico (OCDE). (2017). The Size and Sectoral Distribution of State-Owned Enterprises. http://www.oecd.org/daf/ca/soemarket.htm Organización para la Cooperación y el Desarrollo Económico (OCDE). (2017a). OECD Integrity Review of Mexico Taking a Stronger Stance Against Corruption. https://doi.org/10.1787/9789264273207-en Peng, M., Bruton, G., Stan, C., & Huang, Y. (2016). Theories of the (state-owned) firm. Asia Pacific Journal of Management, 33(2), 293–317. https://doi.org/10.1007/s10490-016-9462-3 Pham, H.S.T. & Nguyen, D.T. (2019). The effects of corporate governance mechanisms on the financial leverage–profitability relation: Evidence from Vietnam. Management Research Review, Vol. 43 No. 4, pp. 387-409. https://doi.org/10.1108/MRR-03-2019-0136 Pombo, C., & Ramírez, M. (2005). Privatization in Colombia: A plant performance analysis. En A. Chong, & F. López-de-Silanes, Privatization in Latin America Myths and Reality, 275-348. Washington: Stanford University Press Prahalad, CK., & Hamel, G. (1994). Strategy as a Field of Study: Why Search for a New Paradigm?. Strategic Management Journal,15,5-16. https://doi.org/10.1002/smj.4250151002 Qi, D., Wu, W., & Zhang, H. (2000). Shareholding structure and corporate performance of partially privatized firms: Evidence from listed Chinese companies. Pacific-Basin Finance Journal, 8(5), 587–610. https://doi.org/10.1016/S0927-538X(00)00013-5 Radosław, M. (2021). Corporate governance in state-owned enterprises. A systematic literature review: an international perspective. International Journal of Contemporary Management. Vol. 57 Issue 4, p1-13. 13p. https://doi.org/10.2478/ijcm-2021-0011 Rakhman, F. (2018). Can partially privatized SOEs outperform fully private firms? Evidence from Indonesia. Research in International Business and Finance, 45, 285–292. https://doi.org/Doi: 10.1016/j.ribaf.2017.07.160 Ramamurti, R. (1998). The Logic of Privatization: The Case of Telecommunications in the Southern Cone of Latin America Walter Molano. Journal of Interamerican Studies and World Affairs, 40(3), 133. https://doi.org/10.2307/166205 Ramírez, C. E. (2007). El proceso de privatización: Antecedentes, implicaciones y resultados. Contaduría y administración, (222), 97-114. http://www.scielo.org.mx/scielo.php?script=sci_arttext&pid=S0186-10422007000200007&lng=es&tlng=es Resolución 275 de 2001. Por la cual se establecen los requisitos que deben acreditar las personas jurídicas públicas y privadas que pretendan ser destinatarias de la inversión de recursos de los fondos de pensiones. Superintendencia de Valores. Revista Legislación Económica N°:1169 De Junio 30 De 2001, Pg.1160 Resolución S.B.S. N° 272 -2017. La Superintendenta de Banca y Seguros y Administradoras Privadas de Fondos de Pensiones. República del Perú. Lima. https://www.sbs.gob.pe/Portals/0/jer/Auto_Nuevas_Empresas/Normas_Comunes/5.%20Reg.%20de%20Gobierno%20Corporativo_Res.%20SBS%20N%C2%B0%20272-2017.pdf Richter, P., Edeling , T., & Reichard, C. (2006). Kommunale Betriebe in größeren Städten. En W. Kilian, P. Richter , & J. Trapp , Ausgliederung und Privatisierung in Kommunen, 56-84. Berlin: Empirische Befunde zur Struktur kommunaler Aufgabenwahrnehmung Rogoff, K., & Sibert, A. (1988). Elections and Macroeconomic Policy Cycles. The Review of Economic Studies, 55(1), 1-16. https://doi.org/10.2307/2297526 Ruiz, A. (2002). El proceso de privatizaciones en el Perú durante el período 1991-2002. Instituto Latinoamericano y del Caribe de Planificación Económica y Social – ILPES. Serie 22, Gestión pública. https://repositorio.cepal.org/bitstream/handle/11362/7273/1/S027489_es.pdf Sacristán Roy, E. (2006). Las privatizaciones en México. Economía Unam, 54-64. https://www.scielo.org.mx/scielo.php?pid=S1665-952X2006000300004&script=sci_abstract Sam, C. Y. (2010). Globalizing partially privatized firms in Singapore: The role of government as a regulator and a shareholder. Journal of Asian and African Studies, 45(3), 258–273. https://doi.org/10.1177/0021909610364778 Sánchez, J. (2010). La privatización en México como retracción estatal. Instituto de Administración Pública del Estado de México, A.C. Sappideen, R. (2016). Corporate Governance with Chinese Characteristics: The Case of State Owned Enterprises. (May 7, 2016). Frontiers of Law in China, Vol. 12, No. 1, March 2017. https://ssrn.com/abstract=2964606 Shan, Y. G., & McIver, R. P. (2011). Corporate governance mechanisms and financial performance in China: Panel data evidence on listed non-financial companies. Asia Pacific Business Review, 17(3), 301-324. https://doi.org/10.1080/13602380903522325 Shawtari, F. A., Har Sani Mohamad, M., Abdul Rashid, H. M., & Ayedh, A. M. (2017). Board characteristics and real performance in malaysian state-owned enterprises (SOEs). International Journal of Productivity and Performance Management, 66(8), 1064-1086. https://doi.org/10.1108/IJPPM-12-2015-0188 Shi, X. (2010). Restructuring in China’s State-Owned Enterprises: Evidence from the Coal Industry. China and World Economy, 18(3), 90–105. https://doi.org/10.1111/j.1749-124X.2010.01198.x Shleifer, A. & Vishny R. W. (1994). Politicians and Firms. The Quarterly Journal of Economics, 109(4), 995-1025. https://doi.org/10.2307/2118354 Sikka, P. & Stittle, J. (2019) Debunking the myth of shareholder ownership of companies: Some implications for corporate governance and financial reporting. Critical Perspectives on Accounting (63), p. 101992. https://doi.org/10.1016/j.cpa.2017.03.011 Sistema de Empresas (SEP) Chile. (Octubre de 2020). Quiénes somos. https://www.sepchile.cl/quienes-somos/#quienes-somos Song, Z., Nahm, A. Y., & Zhang, Z. (2017). Partial State Ownership, Political Connection, and Financing: Evidence from Chinese Publicly Listed Private Sector Enterprises. Emerging Markets Finance and Trade, 53(3), 611–628. https://doi.org/10.1080/1540496X.2015.1097920 Stiglitz, J., (2000). La economía del sector público. Antoni Bosch, Editor. Su, D. & He, X. (2012). Ownership structure, corporate governance and productive efficiency in China. Journal of Productivity Analysis, 38(3), 303-318. https://doi.org/10.1007/s11123-011-0257-8 Teo, S. (2000). Evidence of Strategic HRM Linkages in Eleven Australian Corporatized Public Sector Organizations. Public Personnel Management, 29(4), 557. https://doi.org/10.1177/009102600002900412 Thynne, I. (1994). The incorporated company as an instrument of government: a quest for a comparative understanding. Governance: An International Journal of Public Administration, Vol. 7 No. 1, pp. 59-82. https://doi.org/10.1111/j.1468-0491.1994.tb00169.x Tian, L. & Estrin, S. (2007). Debt financing, soft budget constraints, and government. Economics of Transition, 15(3), 461-481. https://doi.org/10.1111/j.1468-0351.2007.00292.x Tihanyi, L., Aguilera, R. V., Heugens, P., Essen, M., Sauerwald, S., Duran, P., & Turturea, R. (2019). State Ownership and Political Connections. Journal of Management. 45(6), 2293–2321. https://doi.org/doi: 10.1177/0149206318822113 Tirole, J. (2001). Corporate governance. Econometrica, 69, issue 1, p. 1-35. https://doi.org/10.1111/1468-0262.00177 Toninelli, P. (2000). The rise and fall of state-owned enterprise in the western world. Cambridge University Press, Cambridge, UK Tranfield, D, Denyer, D, & Smart, P. (2003). Towards a Methodology for Developing Evidence-Informed Management Knowledge by Means of Systematic Review. British Journal of Management, 14, 207-222. https://doi.org/10.1111/1467-8551.00375 Triebs, T., & Pollitt, M. G. (2019). Objectives and incentives: Evidence from the privatization of Great Britain’s power plants. International Journal of Industrial Organization, 65, 1–29. https://doi.org/10.1016/j.ijindorg.2018.12.003 Tullock, G., & Wagner, R. E. (1976). Rational Models, Politics, and Policy Analysis. Policy Studies Journal, 4 (4), 408-416. https://doi.org/10.1111/j.1541-0072.1976.tb01668.x Vargas, J. (2006). La nueva economía política en la transformación institucional del Estado-nación. Problemas del desarrollo, 37(145), 31-51. https://www.redalyc.org/articulo.oa?id=11820086003 Veldman, J. (2019). Inequality, Inc. SI: Emancipatory accounting and corporate governance: Critical and interdisciplinary perspectives. Critical Perspectives on Accounting, 63, 102039. https://doi.org/10.1016/j.cpa.2018.04.001 Vithessonthi, C. (2016). Capital investment, internationalization, and firm performance: Evidence from Southeast Asian countries. Research in International Business and Finance, 38, 393–403. https://doi.org/10.1016/j.ribaf.2016.04.019 Voorn, B., van Genugten, M. L., & van Thiel, S. (2017). The efficiency and effectiveness of municipally owned corporations: a systematic review. Local Government Studies, 43(5), 820–841. https://doi.org/10.1080/03003930.2017.1319360 Wang, L. F. S., & Han, T.D. (2015). Better Governance Matters Optimal Privatization Policy. Eurasian Economic Review, 5(2), 189–206. https://doi.org/10.1007/s40822-015-0025-6 Wernerfelt B. (1984). A resource‐based view of the firm. Strategic Management Journal, 5(2), 171-180. https://www.jstor.org/stable/2486175 Wicaksono, A. (2009). Corporate governance of state-owned enterprises: investment holding structure of government-linked companies in Singapore and Malaysia and applicability for Indonesian state-owned enterprises. Dissertation at the University of St. Gallen, p. 230. http://www.biblio.unisg.ch/www/edis.nsf/wwwDisplayIdentifier/3488/$FILE/dis3488.pdf Williamson, O. (1985). The Economics Institutions of Capitalism. Firms, Markets and Relational Contracts. The Free Press, A division of McMillan, Nueva York. Wong, S. C. Y. (2018). The state of governance at state-owned enterprises. Private sector opinion; no.40. Washington, D.C.: World Bank Group. http://documents.worldbank.org/curated/en/564891520946563480/pdf/NWP-State-of-Governance-PSO-40-PUBLIC.pdf Xu, L. C., Zhu, T., & Lin, Y. (2005). Politician control, agency problems and ownership reform: Evidence from China. Economics of Transition, 13(1), 1-24. https://doi.org/10.1111/j.1468-0351.2005.00205.x Yin, R. (2014). Case study research: Design and methods (5th ed.). Thousand Oaks, CA: Sage. Zhang, L. (2004). The roles of corporatization and stock market listing in reforming china's state industry. World Development, 32(12), 2031-2047. https://doi.org/10.1016/j.worlddev.2004.08.003 Zimmerman, J. L. (1977). The Municipal Accounting Maze: An Analysis of Political Incentives. Journal of Accounting Research (Wiley-Blackwell), 15, 107–144. https://doi.org/10.2307/2490636 |
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Universidad Nacional de Colombia |
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Bogotá - Ciencias Económicas - Doctorado en Ciencias Económicas |
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Facultad de Ciencias Económicas |
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Atribución-NoComercial 4.0 Internacionalhttp://creativecommons.org/licenses/by-nc/4.0/info:eu-repo/semantics/openAccesshttp://purl.org/coar/access_right/c_abf2Gómez Villegas, Mauricio3fdc5244ec4528b47db0bb0667c46e99600Arias Bello, Martha Liliana8bbc624fbb788102eae7d6eeabe0f060600Arias Bello, Martha Liliana [0000000155403980]Arias Bello, Martha Liliana [https://scienti.minciencias.gov.co/cvlac/visualizador/generarCurriculoCv.do?cod_rh=0000501689]Arias Bello, Martha Liliana [https://scholar.google.com/citations?user=pddv56MAAAAJ&hl=es]América Latina1999-2018http://vocab.getty.edu/page/tgn/40061552023-06-13T19:32:00Z2023-06-13T19:32:00Z2022https://repositorio.unal.edu.co/handle/unal/84008Universidad Nacional de ColombiaRepositorio Institucional Universidad Nacional de Colombiahttps://repositorio.unal.edu.co/ilustracionesLa investigación estudió los efectos de la corporatización en las Empresas de Propiedad del Estado (EPE) no financieras de varios países de Latinoamérica, durante los años 1999-2018, a partir de tres escenarios: EPE con privatización parcial a través de la emisión de acciones; EPE sin privatización parcial, con emisión de deuda, y EPE con gobierno corporativo sin participación en el mercado de valores. La metodología aplicada fue mixta, descriptiva y explicativa. Este diseño metodológico permitió: 1) mediante modelos de regresión de datos de panel, aportar evidencia empírica sobre los efectos de la corporatización en 41 EPE, y 2) mediante el estudio de caso múltiple de ocho EPE, aportar a la literatura sobre el gobierno corporativo de estas empresas. Los hallazgos permitieron concluir que la privatización parcial con emisión de acciones en el mercado de valores tiene un efecto positivo en la eficiencia financiera de las EPE. En el caso de la emisión de deuda no se encontró evidencia concluyente que sugiera que se mejore la eficiencia de las EPE. En las EPE sin participación en el mercado de valores, pero con la implementación de gobierno corporativo, los factores de eficiencia son el tamaño de los activos y la gestión en los costos. El estudio de caso múltiple evidenció que, pese a los resultados cuantitativos, en todos los escenarios aún se presentan situaciones que afectan la eficiencia de las EPE. Es necesario que las teorías de la agencia, del stewardship y de los stakeholders incorporen a la EPE como una forma organizativa particular en la que primen los intereses sociales. (Texto tomado de la fuente).The research studied the effects of corporatization in non-financial state-owned enterprises (SOEs) in Latin American countries, during the years 1999-2018, based on three scenarios: SOEs with partial privatization through the issuance of shares; SOEs without partial privatization, with debt issuance, and SOEs with corporate governance without participation in the stock market. The methodology applied was mixed, descriptive and explanatory. This methodological design allowed: 1) through panel data regression models, to provide empirical evidence on the effects of corporatization in 41 SOEs, and 2) through a multiple case study of eight SOEs, to contribute to the literature on corporate governance of these companies. The findings led to the conclusion that partial privatization with the issuance of shares in the stock market has a positive effect on the financial efficiency of SOEs. In the case of debt issuance, no conclusive evidence was found to suggest that SOE efficiency is improved. In SOEs without stock market participation with the implementation of corporate governance the determinants of efficiency are asset size and cost management. The multiple case study showed that, despite the quantitative results, in all scenarios there are still situations that affect SOE efficiency. It is necessary that the theories of agency, stewardship and stakeholders incorporate the SOE as a main organizational form in which social interests prevail.Incluye anexosDoctoradoDoctor en Ciencias EconómicasLa metodología aplicada fue mixta, descriptiva y explicativa. Este diseño metodológico permitió: 1) mediante modelos de regresión de datos de panel, aportar evidencia empírica sobre los efectos de la corporatización en 41 EPE, y 2) mediante el estudio de caso múltiple de ocho EPE, aportar a la literatura sobre el gobierno corporativo de estas empresas.Gestión y organizacionesxix, 36 páginasapplication/pdfspaUniversidad Nacional de ColombiaBogotá - Ciencias Económicas - Doctorado en Ciencias EconómicasFacultad de Ciencias EconómicasBogotá, ColombiaUniversidad Nacional de Colombia - Sede Bogotá330 - Economía::336 - Finanzas públicas350 - Administración pública y ciencia militar::354 - Administración pública de la economía y el medio ambienteH82 Governmental PropertyCorporatizaciónEficienciaEmpresas de Propiedad del EstadoGobierno CorporativoLatinoaméricaPrivatizaciónCorporate governanceCorporatizationEfficiencyLatin AmericaPrivatizationState-owned enterprisesEmpresa públicaPolítica económicaProductividad industrialPublic enterprisesEconomic policyIndustrial productivityEfectos de la corporatización en el desempeño de las empresas estatales no financieras en Latinoamérica durante los años 1999 a 2018Effects of corporatization on the performance of non-financial state-owned enterprises in Latin America during the years 1999 to 2018Trabajo de grado - Doctoradoinfo:eu-repo/semantics/doctoralThesisinfo:eu-repo/semantics/acceptedVersionhttp://purl.org/coar/resource_type/c_db06Texthttp://purl.org/redcol/resource_type/TDModell, S. 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Journal of Accounting Research (Wiley-Blackwell), 15, 107–144. https://doi.org/10.2307/2490636EstudiantesInvestigadoresMaestrosPúblico generalReceptores de fondos federales y solicitantesResponsables políticosLICENSElicense.txtlicense.txttext/plain; charset=utf-85879https://repositorio.unal.edu.co/bitstream/unal/84008/1/license.txteb34b1cf90b7e1103fc9dfd26be24b4aMD51ORIGINAL52499546.2022.pdf52499546.2022.pdfTesis de Doctorado en Ciencias Económicasapplication/pdf3789284https://repositorio.unal.edu.co/bitstream/unal/84008/2/52499546.2022.pdf3b0a02ec526e64df95e1070d6df93d36MD52THUMBNAIL52499546.2022.pdf.jpg52499546.2022.pdf.jpgGenerated Thumbnailimage/jpeg4921https://repositorio.unal.edu.co/bitstream/unal/84008/3/52499546.2022.pdf.jpg9d57166b28a90e4bc88d1a05174a6319MD53unal/84008oai:repositorio.unal.edu.co:unal/840082023-08-09 23:04:16.704Repositorio Institucional Universidad Nacional de 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