Desempeño financiero en las organizaciones: Análisis desde la gerencia general Chairman
Abstract
El propósito de este estudio fue investigar el efecto de la Dualidad del Gerente General (CEO) Chairman sobre el desempeño financiero de las empresas ecuatorianas. La investigación tiene una lógica deductiva, enfoque cuantitativo, diseño no experimental, alcance correlacional y fuentes de datos primaria y secundaria. Para la comprobación de la hipótesis general del modelo se aplicó estadísticas de regresión múltiple, ajuste de datos y test VIF para evaluar la multicolinealidad; a partir de una muestra de 343 CEO’s con un nivel de confianza del 95% y un margen de error del 5%. Los hallazgos indicaron que la Dualidad CEO no está relacionada positivamente con el desempeño financiero (ROA), sin embargo, se acotó que otras variables como el endeudamiento resultó significativo para explicar el desempeño financiero en los modelos uno y dos y el personal resultó significativo para explicar el desempeño financiero en el modelo uno.References
Afza, Noor, Yusof, MMohd, Ishak, Rokiah, & Aripin, Norhani (8 de January de 2014), Do Characteristics of CEO and Chairman Influence Government- Linked Companies performance? Procedia - Social and Behavioral Sciences, No.109, pp 799-803.
Argüelles, Luis, Quijano, Román, Fajardo, Mario, Medina, Fernando, & Cruz, Carlos (2018), El Endeudamiento como Indicador de Rentabilidad Financiera en las MIPYMES Turísticas de Campeche. Global Conference on Business and Finance Proceedings, vol. XIII No.1, pp 278-284.
Arora, Alisson, & Sharma, Carla (2016), Corporate governance and firm performance in developing countries: Evidence from India. Corporate Governance, vol. 16 No.2, pp 420-436.
Bansal, Norma, & Sharma, Andy (2016), Audit committee, corporate governance and firm performance: Empirical evidence from India. International Journal of Economics and Finance, vol. 8 No.3, pp 1-31.
Belkhir, Mohamed (July de 2008), Board of Directors Size and Performance in the Banking Industry. International Journal of Managerial Finance.
Brickley, James, Coles, Joseph, & Jarell, Garreth (1997), Leadership structure: Separating the CEO and Chairman of the Board. Journal of Corporate Finance, vol. 3 No.3, pp 189-220.
Crook, Harkin, Jonathan, Mare, Sean, & Salvatore, Davide. (2018), Confusion Between the CEO and Chairman: Empirical. Obtenido de https://dx.doi.org/10.2139/ssrn.3317981
Dalton, Dan, & Dalton, Catherine (11 de June de 2011), Integration of Micro and Macro Studies in Governance Research: CEO Duality, Board Composition, and Financial Performance. Journal of Management, vol. 37 No.2, pp 404-411.
Daza Izquierdo, Julio (2016), Crecimiento y rentabilidad empresarial en el sectorindustrial brasileño. Contaduría y Administración, vol. LXI No.2, pp 265-282.
Dumois, Carlos. (2016), La dualidad de mando en la práctica. El siglo.
Duru, Agustine, Iyengar, Raghavan, & Zampelli, Emily (2016), The dynamic relationship between CEO duality and firm performance: The moderating role of board independence. Journal of Business Research,vol. 69 No.10, pp 4269-4277.
Garcia, Jose (s.f.), Economía simple.net. Obtenido de Definición de CEO: https://www.economiasimple.net/glosario/ceo
Gorne, Martin (2 de October de 2017), Quora. Obtenido de Who is more powerful between the CEO and the chairman?: https://www.quora.com/Who-is-more-powerful-between-the-CEO-and-the-chairman
Habib, Mario (2016), Relationship between corporate governance and firm performance: A case study in Bangladesh. South African Journal of Business Management, vol. 46 No.4, pp 43-52.
Hernández, Renato, Fernández, Camila, & Baptista, Paula. (2010), Metodología de la investigación. México: McGraw Hill.
Kraft, Debra (18 de June de 2018), Chron. Obtenido de CEO vs. Chairman: https://work.chron.com/ceo-vs-chairman-29866.html
Latif, Beshar, & Shahid, Marianna (2013), Impact of corporate governance on firm performance: Evidence from sugar mills of Pakistan. European Journal of Business and Management, vol. 5 No.1, pp 51-59.
Lytkina, Elena, Rosenkoetter, Kim, Kincaid, Stephen, & Wang, Dina(June de 2017), What sets successful CEOs apart. Harvard Business Review.
Martínez, Ignacio (5 de septiembre de 2017), Liderazgo, coaching y estrategias . Obtenido de Qué significa CEO y cuáles son sus principales funciones: http://ignaciomartineza.com/liderazgo/que-significa-ceo/
Martínez, Maribel (8 de febrero de 2018), Expertos Negocios Online. Obtenido de Que es un CEO y las funciones del CEO en una empresa: https://www.expertosnegociosonline.com/que-es-un-ceo-significado-funciones/#dos
Mendiola, Ana (2015), Portal FinDev. Obtenido de Desempeño financiero: https://www.findevgateway.org/es/temas/desempe%C3%B1o-financiero
Muhammad, Hommuh, & Rehman, Ammhed. U. (2016), The effect of corporate governance practices on firm performance: Evidence from Pakistan. The East Asian Journal of Business Management, vol. 6 No.1, pp 5-12.
Narwal, Kendra, & Jindal, Susan (2015), The Impact of Corporate Governance on the Profitability: An Empirical Study of Indian Textile Industry. International Journal of Research in Management, vol.3 No.2, pp 81-85.
Oh, Won-Young, Chang, Young Kyun, & Kim, Tae.-Yeol (1 de September de 2018), Complementary or Substitutive Effects? Corporate Governance Mechanisms and Corporate Social Responsibility. Journal of Management, vol. 44 No.7, pp 2716-2739.
Palmon, Oded, & Wald, John (17 de April de 2002), Are two heads better than one? The impact of changes in management structure on performance by firm size. Journal of Corporate Finance, vol.8 No.3, pp 213-226.
Pathan, Sampiere (2009), Strong boards, CEO power and bank risk-taking. Journal of Banking and Finance, No.40, pp. 1340-1350. doi:https://doi.org/10.1016/j.jbankfin.2009.02.001
Pérez, Julian, & Merino, María (2018), Definicion.de. Obtenido de Definicion de CEO: https://definicion.de/ceo/
Rajput, Nahjir (2015), Shareholder Types, Corporate Governance and Firm Performance: An Anecdote from Indian Corporate Sector. Asian Journal of Finance & Accounting, vol. 7 No.1, pp 1-45.
Rashid, Ali (2013), Corporate governance, executive pay and firm performance: Evidence from Bangladesh. International Jornual of Management, vol. 30 No.2, pp 556-570.
Stein, Guido, & Capapé, Javier (2009), Causas del fracaso de un CEO: mapa de un debate . Revista empresa y humanismo, vol. 13 No.2, pp 183-236.
Thattil, Sascha (1 de October de 2017), Quora. Obtenido de Who is more powerful between the CEO and the chairman?: https://www.quora.com/Who-is-more-powerful-between-the-CEO-and-the-chairman
Tribbett, Charles (December de 2012), Splitting The CEO and Chairman Roles. The leading journal of corporate governance, vol.33 No.197.
Tuggle, Christopher, Sirmon, David, Reutzel, Christopher, & Bierman, Leonard (06 de July de 2010), Commanding board of director attention: investigating how organizational performance and CEO duality affect board members’ attention to monitoring. Strategic Management Journal, vol.31 No.9, pp 946-968.
Urban, Daniel (March de 2019), The effects of culture on CEO power: Evidence from executive turnover. Journal of Banking & Finance, No.104, pp 50-69.
Vides, Luis (13 de Octubre de 2010), Dualidad de Mando. Obtenido de http://dualidaddemando.blogspot.com/
Wahba, Hayam (2015), The joint effect of board characteristics on financial performance: Empirical evidence from Egypt. Review of Accounting and Finance, vol.14 No.1, pp 20-40.
Yang, Tann, & Zhao, Seah (2014), CEO duality and firm performance: Evidence from an exogenous shock to the competitive environment. Journal of Banking and Finance, No.49, pp 534-552. doi:https://doi.org/10.1016/j.jbankfin.2014.04.008
Yasser, Qaiser Rafique, & Mamun, Abdullah Al (15 de October de 2016), The relationship between board leadership structure and earnings management in Asia-Pacific. Accounting Research Journal, vol.29 No.4, pp 413-428.