Abstract
In this paper, we review the current state of corporate governance in Colombia. First, we discuss the evolution of the legal framework of corporate governance including the main changes in the code of best corporate governance practices that took place since the global financial crisis of 2008. After this, we discuss key corporate governance issues such as the ownership structure of listed corporations and the market for corporate control, we analyze the practices of corporate boards of Colombian listed companies and their remuneration systems and the role of pension funds and hedge funds as shareholder activists. We also review the evidence regarding corporate governance and firm performance. Finally, we discuss the current state of corporate social responsibility (CSR) and an assessment of corporate governance specifics by industry. We conclude that there are opportunities for future research in several of these fields of study, especially regarding boards of director practices, director remuneration, and corporate social responsibility.
Highlights
The government of Colombia has made a great effort to promote the implementation of good corporate governance practices in Colombian companies
We discuss the evolution of the legal framework of corporate governance in Colombia, in particular, we examine the impact of the different laws enacted in the country and the creation of the code of best corporate governance practices (Country Code1)
We have discussed the current state of several important aspects of corporate governance in Colombia
Summary
The government of Colombia has made a great effort to promote the implementation of good corporate governance practices in Colombian companies. We discuss the evolution of the legal framework of corporate governance in Colombia, in particular, we examine the impact of the different laws enacted in the country and the creation of the code of best corporate governance practices (Country Code). We conclude with a brief discussion of corporate social responsibility (CSR) and a brief examination of industrial specifics of corporate governance in Colombia. Section discusses corporate social responsibility, while Section examines industrial specifics of corporate governance in Colombia.
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
