Corporate Governing in Latin America: The Importance of Scandals to Institute Change

This book provides a framework for understanding the evolution of corporate governance in six Latin American countries, tracing its evolution and adaption to different institutional logics over several decades. It adopts a dynamic, emergent, and contextual approach, using corporate governance scandals as a lens to observe institutional change. The book reveals the sources of societal transformations and identifies key lessons and setbacks, comparing corporate governance practices across countries, the region, and the broader global evolution.

Format: Hardback
Length: 400 pages
Publication date: 02 January 2023
Publisher: Springer Nature Switzerland AG

Based on institutional theories, this comprehensive volume provides a framework for understanding the evolution of corporate governance in six key Latin American countries: Argentina, Brazil, Chile, Colombia, Mexico, and Peru. By employing inductive qualitative methods, the book posits the concept of governing as a dynamic, emergent, and contextual process, tracing its evolution and adaptation to the diverse institutional logics in each country and the region over several decades. Through the lens of corporate governance scandals, the book reveals the sources of societal transformations, identifying key lessons and meaningful setbacks along the way. This edited collection sheds light on the role and interactions of corporate elites, stakeholders, and watchdogs, including the visible hands of government and multinational corporations. It offers comparisons across the countries, the region, and the broader evolution of governing practices around the globe. The result is a book that combines scholarly rigor with practical relevance, serving as a valuable resource for practitioners, researchers, and think tanks alike.

Introduction:
The study of corporate governance has gained increasing importance in recent years, as businesses operate in a globalized and interconnected world. Corporate governance refers to the set of rules, regulations, and practices that govern the behavior and operations of corporations. It encompasses a range of issues, including board composition, executive compensation, shareholder rights, and corporate social responsibility.

Latin America is a region that has undergone significant economic and social transformations in recent decades, and its corporate governance practices have been shaped by these developments. This volume aims to provide a comprehensive understanding of the evolution of corporate governance in six key Latin American countries: Argentina, Brazil, Chile, Colombia, Mexico, and Peru.

Methodology:
The study employs an inductive qualitative methodology, which involves the collection and analysis of primary and secondary data. Primary data includes interviews with key stakeholders, such as executives, board members, regulators, and academics. Secondary data includes academic literature, government reports, and industry reports.

Findings:
The findings of the study reveal that corporate governance practices in Latin America have evolved significantly over the past few decades. In the early 1990s, many Latin American countries were characterized by weak corporate governance systems, with boards that were often dominated by government interests. However, there has been a significant shift in recent years, with many Latin American countries implementing reforms to strengthen their corporate governance systems.

One of the key findings of the study is that corporate governance practices in Latin America are influenced by a range of factors, including economic development, political stability, and cultural values. For example, countries with more developed economies tend to have stronger corporate governance systems, as they have more resources to invest in governance mechanisms and regulations. Similarly, countries with more stable political systems tend to have stronger corporate governance systems, as they are less likely to experience political crises that can undermine corporate governance.

Another key finding of the study is that corporate governance practices in Latin America are influenced by the broader global trends in corporate governance. For example, the global financial crisis of 2008 led to a significant increase in the focus on corporate governance in Latin America, as investors sought to ensure that their investments were safe and secure. This led to the implementation of reforms in many Latin American countries, such as the adoption of new accounting standards and the strengthening of board independence.

Conclusion:
In conclusion, this volume provides a comprehensive understanding of the evolution of corporate governance in six key Latin American countries. The study reveals that corporate governance practices in Latin America have evolved significantly over the past few decades, driven by a range of factors, including economic development, political stability, and cultural values. The study also highlights the importance of global trends in corporate governance, as they influence the development of corporate governance practices in Latin America. The findings of the study have important implications for practitioners, researchers, and policymakers, as they can help to inform the development of policies and regulations that promote good corporate governance in Latin America.

Weight: 658g
Dimension: 210 x 148 (mm)
ISBN-13: 9783030857790
Edition number: 1st ed. 2023