IMPACT OF DEBT TO THE PUBLIC AND CONCENTRATION OF PROPERTY OWNERSHIP ON THE TRANSPARENCY OF THE CHILEAN CAPITAL MARKET (Article published in Spanish)
DOI:
https://doi.org/10.1016/S0123-5923(10)70113-3Keywords:
Transparency index, corporate governance, information asymmetryAbstract
This study examines the impact of debt in bonds and the concentration of ownership on the transparency of information in Chilean companies. The suggested hypotheses point out that the debt in bonds and the concentration of ownership should have a significant effect on the transparency of information. To prove these hypotheses, an econometric model was used based on information made available by Chilean corporations showing debt in bonds from 2001 to 2005. The results show that only the variables related to the concentration of ownership behave as expected.
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