Listar Artículos y borradores de administración – Working papers por autor "González Ferrero, Maximiliano"

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    • Advisors in corporate governance of family firms 

      Trujillo Dávila , María Andrea; González Ferrero, Maximiliano; Guzmán Vásquez, Alexander (Pontificia Universidad Javeriana. Facultad de Ciencias Económicas y Administrativas, 2021-10-15)
      Este estudio examina el impacto de los asesores especializados en la implementación de prácticas de buen gobierno a nivel de empresa y familia. Aplicamos un enfoque cualitativo de estudio de casos en diversas industrias ...

    • Determinants of corporate tone in an initial public offering : powerful CEOs versus well-functioning boards 

      González Ferrero, Maximiliano; Guzmán Vásquez, Alexander; Téllez Falla, Diego Fernando; Trujillo Dávila , María Andrea (Elsevier Inc., 2021-12)
      Recent literature on initial public offerings (IPOs) suggests a significant effect of tone in IPO underpricing but ignores its determinants. This study concentrates on the factors that shape the tone of the information ...

    • Does gender really matter in the boardroom? Evidence from closely held family firms 

      González Ferrero, Maximiliano; Guzmán Vásquez, Alexander; Pablo, Eduardo; Trujillo Dávila , María Andrea (Springer, 2020)
      In this study, using a unique hand-collected sample of 523 closely held Colombian family firms and 5.094 firm-year observations, with 4907 board members, including 833 female board members, we show that female directors ...

    • The effectiveness of corporate governance hybrid models in emerging markets : the case of the Issuer Recognition program 

      González Ferrero, Maximiliano; Guzmán Vásquez, Alexander; Téllez Falla, Diego Fernando; Trujillo Dávila , María Andrea (Wiley-Blackwell Publishing Ltd., 2021-01-04)
      Research question/issue What is the Issuer Recognition (IR) program, and what has been its impact as a new and replicable corporate governance hybrid form used in the Colombian Securities Exchange (CSE)? Research ...

    • Family firms and debt : risk aversion versus risk of losing control 

      González Ferrero, Maximiliano; Guzmán Vásquez, Alexander; Pombo Vejarano, Carlos; Trujillo Dávila , María Andrea (Elsevier Inc., 2013-11)
      This study examines the effect of family management, ownership, and control on capital structure for 523 Colombian firms between 1996 and 2006. The study finds that debt levels tend to be lower for younger firms when the ...

    • Family firms and financial performance : the cost of growing 

      González Ferrero, Maximiliano; Guzmán Vásquez, Alexander; Pombo Vejarano, Carlos; Trujillo Dávila , María Andrea (Elsevier BV, 2012-12)
      This study examines the relationship between financial performance and family involvement for 523 listed and non-listed Colombian firms over 1996–2006. Using a detailed database and performing several panel data regression ...

    • Family involvement and dividend policy in closely held firms 

      González Ferrero, Maximiliano; Guzmán Vásquez, Alexander; Pombo Vejarano, Carlos; Trujillo Dávila , María Andrea (Sage Publications Inc, 2014-06-11)
      This article examines the effects of family involvement on dividend policy in closely held firms that face agency problems involving majority?minority shareholders. We argue that minority shareholders press for dividends ...

    • Governance, sentiment analysis, and initial public offering underpricing 

      González Ferrero, Maximiliano; Guzmán Vásquez, Alexander; Téllez Falla, Diego Fernando; Trujillo Dávila , María Andrea (Wiley-Blackwell Publishing Ltd., 2019-01-28)
      Research Question/Issue What is the relationship between governance, tone in language, and underpricing of initial public offerings (IPOs) in Latin America? Research Findings/Insights We find a positive (negative) and ...

    • The impact of governance on IPO underpricing and performance at the country and corporate level : literature review and research directions 

      González Ferrero, Maximiliano; Guzmán Vásquez, Alexander; Téllez Falla, Diego Fernando; Trujillo Dávila , María Andrea (AfricaGrowth Institute, 2020-06-01)
      We update and review the current literature on IPO underpricing and performance, stressing the link with corporate governance at the country and firm-level. We focus on the separation between ownership and control and the ...

    • Internet-based corporate disclosure and market value : evidence from Latin America 

      Garay, Urbi; González Ferrero, Maximiliano; Guzmán Vásquez, Alexander; Trujillo Dávila , María Andrea (Elsevier BV, 2013-12)
      We examine the relationship between an Internet-based corporate disclosure index and firm value in the seven largest stock markets of Latin America. We find, after controlling for firms' characteristics, industry and country ...

    • Is board turnover driven by performance in family firms? 

      González Ferrero, Maximiliano; Guzmán Vásquez, Alexander; Pablo, Eduardo; Trujillo Dávila , María Andrea (Elsevier Inc., 2019-04)
      We study director turnover as a corporate governance mechanism in family firms; specifically, the effect that family involvement in management, ownership, and control has on director turnover (direct effect) and on director ...

    • Revisión de la literatura de empresas familiares : una perspectiva financiera 

      González Ferrero, Maximiliano; Guzmán Vásquez, Alexander; Pombo Vejarano, Carlos; Trujillo Dávila , María Andrea (Consejo Latinoamericano de Escuelas de Administración, 2011)
      Las empresas familiares son la estructura organizacional más difundida en el mundo inclusive en las economías más desarrolladas. Por ello, siempre han sido un objeto de estudio interesante para las distintas áreas de la ...

    • The role of family involvement on CEO turnover : evidence from colombian family firms 

      González Ferrero, Maximiliano; Guzmán Vásquez, Alexander; Pombo Vejarano, Carlos; Trujillo Dávila , María Andrea (Wiley-Blackwell Publishing Ltd, 2015)
      Manuscript Type Empirical Research Question/Issue We analyze CEO turnover in closely held firms with some level of ownership dispersion in a context of low investor protection. In particular, we examine the impact of ...

    • Topics and methods in economics, finance, and business journals : a content analysis enquiry 

      Camargo, Jorge E.; González Ferrero, Maximiliano; Guzmán Vásquez, Alexander; ter Horst, Enrique; Trujillo Dávila , María Andrea (Elsevier Ltd, 2018-12-18)
      This study analyzes the abstracts and titles of 33,454 business finance, economics, management, and business articles published in ISI (frequently cited) journals during 2013–14. The sample represents 46.4 percent of all ...

    • What you say and how you say it : Information disclosure in Latin American firms 

      González Ferrero, Maximiliano; Guzmán Vásquez, Alexander; Téllez Falla, Diego Fernando; Trujillo Dávila , María Andrea (Elsevier Inc., 2021-04)
      Firms in Latin America could differentiate themselves by adopting better information disclosure practices. In this paper, we construct an Information Disclosure Index (IDI) for a sample of 454 firms in the six largest Latin ...