Incidencia del gobierno corporativo en el desempeño financiero colombiano : estudio de caso Celsia, Empresa de Servicios Públicos

Abstract

In a State with a need to encourage internal and external investment, in an environment of political and legal instability, and at the same time with a growing need to combat corruption, corporate governance practices have gained importance in the country's culture, as well as in the interest of entrepreneurs, as they represent an essential element in current business management. The implementation of these good practices and the basic principles of corporate governance have a favorable impact on an organization, since it contributes to the generation of an environment of trust in the company by establishing standards and control mechanisms in aspects such as governance and management structures, transparency, disclosure and dissemination of information. The incorporation of these measures tends to a more efficient administration and management of the companies, stimulating, therefore, the best financial performance. The objective of this study is to identify the impact of the implementation of corporate governance on the financial performance of the company Celsia S.A E.S.P., through the identification of the existence of a positive relationship between the compliance index (of corporate governance) and the measures of profitability of assets and patrimony, used for this purpose statistical models