Abstract

WATKINS FASSLER, Karen  and  FLORES VARGAS, Diana Rubí. Determinants of firms' ownership concentration in Mexico. Contad. Adm [online]. 2016, vol.61, n.2, pp.224-242. ISSN 0186-1042.  https://doi.org/10.1016/j.cya.2015.05.015.

High ownership concentration is common for non-financial companies, listed in the Mexican Stock Market during the period 2001-2012. This characteristic does not change considerably in time, except taking into account normal versus financial crisis periods. Through panel data analysis it is possible to determine that two of the most important variables in order to explain ownership concentration are return on assets and the percentage of independent Board members. Nevertheless, ownership structure is also conditioned by psychological and cultural factors, and the degree of investor protection has an important influence on proprietorship.

Keywords : Ownership concentration; Corporate governance; Mexico.