Perú
| info:eu-repo/semantics/article
Formal institutions, ICSID arbitration and firm performance: evidence from Latin America
dc.creator | Enriquez-Perales, Sarela | |
dc.creator | Garcia-Gomez, Conrado Diego | |
dc.creator | Díez-Estaban, José María | |
dc.creator | Lizarzaburu Bolaños, Edmundo R. | |
dc.date.accessioned | 2022-05-31T01:22:33Z | |
dc.date.accessioned | 2024-05-14T15:55:44Z | |
dc.date.available | 2022-05-31T01:22:33Z | |
dc.date.available | 2024-05-14T15:55:44Z | |
dc.date.created | 2022-05-31T01:22:33Z | |
dc.date.issued | 2022-04-25 | |
dc.identifier | Enriquez-Perales, S., García-Gómez, C.D., Díez-Esteban, J.M., & Lizarzaburu Bolaños, E. R. (2022). Formal institutions, ICSID arbitration and firm performance: evidence from Latin America. Eurasian Business Review, 12(2), 1-36. https://doi.org/10.1007/s40821-022-00213-4 | |
dc.identifier | Enriquez-Perales, S., García-Gómez, C.D., Díez-Esteban, J.M., & Lizarzaburu Bolaños, E. R. (2022). Formal institutions, ICSID arbitration and firm performance: evidence from Latin America. Eurasian Business Review, 12(2), 1-36. https://doi.org/10.1007/s40821-022-00213-4 | |
dc.identifier | https://hdl.handle.net/20.500.12640/2975 | |
dc.identifier | https://doi.org/10.1007/s40821-022-00213-4 | |
dc.identifier.uri | https://repositorioslatinoamericanos.uchile.cl/handle/2250/9402969 | |
dc.description.abstract | This paper analyzes how a country’s formal institutional quality impacts the performance of listed companies across different Latin American countries (namely, Argentina, Brazil, Colombia, Mexico, Peru, and Chile) and industries. Latin America provides a unique setting to address this question due to the region’s high institutional instability. The sample consists of 571 large listed companies, with a total of 8576 observations, for the period 2004–2019. Results show that the quality of a country’s formal institutions is positively related to firm performance, measured through two alternative variables (ROA and Tobin’s Q). Additionally, countries that are signatories of the ICSID agreement provide companies with a more stable environment in which to do business, which ultimately has a positive impact on their performance. However, as the number of cases recorded before the ICSID increases, the relationship turns negative. The paper provides a more comprehensive understanding of formal institutions by considering six alternative governance dimensions. Moreover, international arbitration is found to be a substitute for formal institutions in Latin American countries. | |
dc.language | eng | |
dc.publisher | Springer | |
dc.publisher | TR | |
dc.relation | urn:issn:1309-4297 | |
dc.relation | urn:issn:2147-4281 | |
dc.relation | https://link.springer.com/content/pdf/10.1007/s40821-022-00213-4.pdf | |
dc.rights | Attribution 4.0 International | |
dc.rights | info:eu-repo/semantics/openAccess | |
dc.subject | Formal institutions | |
dc.subject | ICSID | |
dc.subject | Arbitration | |
dc.subject | Firm performance | |
dc.subject | Latin America | |
dc.subject | Instituciones formales | |
dc.subject | CIADI | |
dc.subject | Arbitraje | |
dc.subject | Desempeño de la firma | |
dc.subject | América Latina | |
dc.title | Formal institutions, ICSID arbitration and firm performance: evidence from Latin America | |
dc.type | info:eu-repo/semantics/article |