La composición del consejo de administración y la estructura accionaria como factores explicativos de la transparencia en el gobierno corporativo en Latinoamérica : evidencia en empresas cotizadas de Argentina, Brasil, Chile y México

The objective of this paper is to obtain empirical evidence of the relationship between board structure, ownership composition, and the level of corporate governance transparency in the largest listed companies of Latin America. A correlational study was conducted with a longitudinal analysis using data from the largest listed comanies in Argentina, Brazil, Chile and Mexico during the period 2004-2010. The results show that the level of transparency is higher in companies with larger boards and with a higher percentage of independent directors. Meanwhile, the composition of ownership inhibits the level of transparency in corporate governance, while the presence of family shareholders encourages greater disclosure of corporate information.