Reforming Corporate Governance : Experiences with Public Takeover Bids in Chile and Panama
Focus 6 covers the experiences of two high-profile cases in Chile and Panama and analyzes reforms that shape new legislation and protect minority shareholders. The first article in this publication explores the impact the reforms to the regulation...
| Main Authors: | , |
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| Format: | Working Paper |
| Language: | English en_US |
| Published: |
International Finance Corporation, Washington, DC
2014
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2009/01/19648153/factores-de-reforma-en-gobierno-corporativo-experiencias-en-ofertas-publicas-de-adquisicion-en-chile-y-panama-focus-reforming-corporate-governance-experiences-public-takeover-bids-chile-panama http://hdl.handle.net/10986/19013 |
| Summary: | Focus 6 covers the experiences of two
high-profile cases in Chile and Panama and analyzes reforms
that shape new legislation and protect minority
shareholders. The first article in this publication explores
the impact the reforms to the regulation of corporate
governance in 2000 on the capital market in Chile. After
seven years of implementing the new law it is possible to
consider, with a more informed vision, what the positive and
negative elements that strengthening the regulation of
corporate governance have brought. The experience of Panama
is also an ironic commentary on the Chilean experience. It
is the case for reform to protect minority shareholders
which was introduced by the Panamanian securities regulator.
In reaction to this, some interested individuals rejected
the reform proposal in theory, tying up the initiative in
the courts, but accepted it and followed it in practice. And
continue to do so even today. The history, regulation and
the practice of takeovers in Panama presents interesting
paradoxical and contradictory features, which can provide
lessons that can be of general use. |
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