Argentina--how the asset stripping took off

["Ian Murray" <seamus2001@xxxxxxxxx>]

Corporate Governance: An International Review

Corporate Governance in Argentina: the outcome of economic freedom (1991-2000)

Volume 9: Issue 4


Rodolfo Apreda: Universidad del Cema, Buenos Aires, Argentina

Abstract:

This paper develops and provides evidence for two statements: a) In Argentina, there has been a
marked shift in ownership and control from big family-owned domestic companies towards foreign
groups and investment funds, and b) While coping with governance issues, Argentina has been
following the common law countries tradition, fostering a capital-market-based financial system and
swapping its corporate governance practices outright. To ground these statements on facts, I survey
corporate governance issues in this country before 1991, the underlying legal framework, the new
rules of the game in capital structure and ownership as from 1991, largely due to a wave of
privatisations, restructuring, mergers and acquisitions that took place through the last decade.


Article Type: Original article

Page range: 298 - 310

5 Table(s) 13 Page(s)