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Browsing Working Papers by Author "Acuña, Guillermo Ignacio"
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Item Internal and External Factors Explaining Chilean Economic Activity(2017-07-31) Acuña, Guillermo IgnacioThe objective of this paper is to find which factors were the most important to explain the contraction of the economic activity in Chile during the last three years. The results show that: (1) the fall in the rate of growth of the economy is explained by external factors, like the end of the mining boom; (2) the subsequent and persistently low growth rates are explained by a combination of internal and external factors, where the internal factors were the most important.Item Ownership Concentration of Family and Non-Family Firms and the Relationship to Performance(School of Business and Economics, Universidad del Desarrollo, 2014-12) Acuña, Guillermo Ignacio; Sepúlveda, Jean P.; Vergara, MarcosThis paper analyzes whether family enterprises perform better than non-family enterprises, as found in previous studies on Chilean companies, based on the ownership structure of the business, which is an important factor in the literature on corporate governance that had not been taken into account. The analysis confirmed that family enterprises performed better than non-family enterprises and that the effect of ownership concentration on business performance depends on the type of enterprise, regardless of whether it is family-owned. Lastly, the results suggest that performance is better when there is a concentrated ownership, comprised both of shareholders who are family members and others who are not, than with other schemes of corporate governance