Impacto del Código de mejores prácticas para Colombia en el ROA y ROE de una muestra de empresas listadas en la Bolsa de Valores de Colombia, incluidas en el índice COLCAP

Abstract

This project found to analyze the relationship between the implementation of good practices of Corporate Governance and its effect in finance behavior of a sample of companies listed on Colombian Stock Exchange, while focusing on the evolution of ROA and ROE indicators -- The analysis allowed to measure the impact on finance stability of those companies for the period 2002-2016 and also concluded about the benefits of applying corporate governance lineaments in national economy, based on the survey of Best Corporate Practices reported annually by the companies to the Superintendencia Financiera of Colombia -- The results show that measures related with Shareholders' Meeting, Board of Directors and Information, have been significant in a negative way for the behavior of ROA indicator -- In the case of ROE indicator, only the Board of Directors resulted significant, also with negative impacts