Gobierno Corporativo en el Ecuador. Aproximación práctica.
Ecuador suffered in 1998 and 1999 its worst financial crisis. After these chaotic events, the Ecuadorian Code of "Good" Corporate Governance was approved, containing 51 recommendations. The recommendations are based on the Andean Code on Corporate Governance. The adoption of this Code is a...
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| Format: | Article |
| Language: | Spanish |
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Universidad Externado de Colombia
2008
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| Online Access: | https://dialnet.unirioja.es/servlet/oaiart?codigo=3627269 |
| Source: | Revista e-mercatoria, ISSN 1692-3960, null 7, Nº. 2, 2008, pags. 344-375 |
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| Summary: |
Ecuador suffered in 1998 and 1999 its worst financial crisis. After these chaotic events, the Ecuadorian Code of "Good" Corporate Governance was approved, containing 51 recommendations. The recommendations are based on the Andean Code on Corporate Governance. The adoption of this Code is a positive first step, even though the recommendations are merely simple suggestions -or "heavenly music"- since they are non-compulsory. Ecuador breach of duties and the corporate statutes is not punished, because with the current mechanisms available to minority shareholders are weak or futile. Also, there is a minimum possibility to bring a legal action against Directors and/or the controlling shareholder. |
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