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Dr. Jaime Guerrero-Villegas
Department of Management, University of Cádiz, 11406, Jerez de la Frontera, Cádiz, Spain

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0 Board of Directors
0 Sustainability
0 Human Resource Management (hrm)
0 Corporate social responsibility (CSR)
0 Stakeholder Theory

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Research article
Published: 08 July 2020 in Business Strategy and the Environment
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The purpose of this study is to explore the relationship between green innovation (GI) and financial performance (FP) in emerging markets multinationals from Latin America (Multilatinas). Aligned with the natural resource‐based view and institutional theory, and using moderated and hierarchical linear regression analyses with panel data from 86 listed firms during the period 2013–2017, we find that implementing effective GIs is not associated with greater FP. The paper also analyses the moderating effect of Environmental Management Systems (ISO 14001) and research and development (R&D) investment on the relationship between GI and FP. We find that Multilatinas' implementation of ISO 14001 does not affect the way they adopt GI and thus does not enhance their levels of FP, but a positive moderating effect is generated as companies increase their level of R&D investment. The paper expands knowledge of the way GI affects Multilatinas' FP, and these findings have policy implications for managers, policy makers, government and other institutions.

ACS Style

Eduardo Duque‐Grisales; Javier Aguilera‐Caracuel; Jaime Guerrero‐Villegas; Encarnación García‐Sánchez. Does green innovation affect the financial performance of Multilatinas? The moderating role of ISO 14001 and R&D investment. Business Strategy and the Environment 2020, 29, 3286 -3302.

AMA Style

Eduardo Duque‐Grisales, Javier Aguilera‐Caracuel, Jaime Guerrero‐Villegas, Encarnación García‐Sánchez. Does green innovation affect the financial performance of Multilatinas? The moderating role of ISO 14001 and R&D investment. Business Strategy and the Environment. 2020; 29 (8):3286-3302.

Chicago/Turabian Style

Eduardo Duque‐Grisales; Javier Aguilera‐Caracuel; Jaime Guerrero‐Villegas; Encarnación García‐Sánchez. 2020. "Does green innovation affect the financial performance of Multilatinas? The moderating role of ISO 14001 and R&D investment." Business Strategy and the Environment 29, no. 8: 3286-3302.

Journal article
Published: 25 June 2019 in Business Strategy and the Environment
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ACS Style

Eduardo Duque‐Grisales; Javier Aguilera‐Caracuel; Jaime Guerrero‐Villegas; Encarnación García‐Sánchez. Can proactive environmental strategy improve Multilatinas' level of internationalization? The moderating role of board independence. Business Strategy and the Environment 2019, 29, 291 -305.

AMA Style

Eduardo Duque‐Grisales, Javier Aguilera‐Caracuel, Jaime Guerrero‐Villegas, Encarnación García‐Sánchez. Can proactive environmental strategy improve Multilatinas' level of internationalization? The moderating role of board independence. Business Strategy and the Environment. 2019; 29 (1):291-305.

Chicago/Turabian Style

Eduardo Duque‐Grisales; Javier Aguilera‐Caracuel; Jaime Guerrero‐Villegas; Encarnación García‐Sánchez. 2019. "Can proactive environmental strategy improve Multilatinas' level of internationalization? The moderating role of board independence." Business Strategy and the Environment 29, no. 1: 291-305.

Chapter
Published: 01 January 2019 in Advances in Linguistics and Communication Studies
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The study of the stakeholders is key to a firm's survival and success. This chapter serves as a point of reference for managers by providing a better understanding of stakeholder theory and of the different groups of stakeholders. Additionally, the chapter analyzes the international scenario characterized by globalization and a high level of competitiveness in order to understand the role played by specific stakeholders such as shareholders, employees, governments, and non-governmental organizations. After reading this chapter, readers should be able to understand the basic principles of stakeholder theory; to identify the different groups of stakeholders, analyzing the role that they play in the firm; to understand the motives which push firms to operate internationally and the different methods that they can use to carry this out; and to reflect on the key stakeholders in an international context.

ACS Style

Jaime Guerrero-Villegas. The Relevance of Stakeholders in an International Context. Advances in Linguistics and Communication Studies 2019, 196 -214.

AMA Style

Jaime Guerrero-Villegas. The Relevance of Stakeholders in an International Context. Advances in Linguistics and Communication Studies. 2019; ():196-214.

Chicago/Turabian Style

Jaime Guerrero-Villegas. 2019. "The Relevance of Stakeholders in an International Context." Advances in Linguistics and Communication Studies , no. : 196-214.

Journal article
Published: 22 December 2018 in Sustainability
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The purpose of this paper is to explore the influence of human resource management on reverse logistics (RL) in the context of high-tech firms. Using the resource-based view of the firm, we analyzedthe effect of employees’ technological skills on RL. The study also investigated whether top management support (TMS) for information technology (IT) and innovativeness moderate this relationship. We collected data from European high-tech firms from May to September 2010, obtaining 160 responses representing a 17.7% response rate. Multivariate regressions were used to assess all of the relations established. The results indicated that technological skills have direct and positive effects on RL in high tech-firms. The authors also report that both TMS for IT and innovativeness act as positive moderators in the relationship between technological skills and RL. This study suggests the importance of considering two important organizational variables that enhance the effect of technological skills on RL in high-tech firms. First, using TMS for IT not only provides tangible resources but also strongly supports employees’ technological development in RL. Second, a high level of firm innovativeness leads high-tech firms to create the right conditions to take advantage of their technological skills to improve their RL. Moreover, theresults indicate the contingent role of innovativeness and TMS for IT use in the relationship between technological skills and RL.

ACS Style

Encarnación García-Sánchez; Jaime Guerrero-Villegas; Javier Aguilera-Caracuel. How Do Technological Skills Improve Reverse Logistics? The Moderating Role of Top Management Support in Information Technology Use and Innovativeness. Sustainability 2018, 11, 58 .

AMA Style

Encarnación García-Sánchez, Jaime Guerrero-Villegas, Javier Aguilera-Caracuel. How Do Technological Skills Improve Reverse Logistics? The Moderating Role of Top Management Support in Information Technology Use and Innovativeness. Sustainability. 2018; 11 (1):58.

Chicago/Turabian Style

Encarnación García-Sánchez; Jaime Guerrero-Villegas; Javier Aguilera-Caracuel. 2018. "How Do Technological Skills Improve Reverse Logistics? The Moderating Role of Top Management Support in Information Technology Use and Innovativeness." Sustainability 11, no. 1: 58.

Review
Published: 17 December 2018 in Sustainability
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Many studies have examined the relationships between board attributes (board independence, CEO duality, board size, and women on boards) and corporate social responsibility disclosure (CSRD) as a means to improve a firm’s reputation. This research was performed in various international settings and uneven outcomes were obtained. We therefore meta-analyzed 88 studies to summarize scattered evidence and found that CEO duality had a significantly negative relationship with CSRD, while board independence, board size and women representation had a significantly positive relationship with CSRD. These relationships were more significant in countries with low levels of commitment to sustainable goals. Thus, our study revealed differences in the relationship between board attributes and CSRD, and that these differences were conditioned by the institutional contexts in which firms operate. Our research has practical implications for practitioners and policy makers alike as we offer guidelines on the most suitable corporate governance mechanisms to achieve lower capital costs and better access to finance.

ACS Style

Jaime Guerrero-Villegas; Leticia Pérez-Calero; José Manuel Hurtado-González; Pilar Giráldez-Puig. Board Attributes and Corporate Social Responsibility Disclosure: A Meta-Analysis. Sustainability 2018, 10, 4808 .

AMA Style

Jaime Guerrero-Villegas, Leticia Pérez-Calero, José Manuel Hurtado-González, Pilar Giráldez-Puig. Board Attributes and Corporate Social Responsibility Disclosure: A Meta-Analysis. Sustainability. 2018; 10 (12):4808.

Chicago/Turabian Style

Jaime Guerrero-Villegas; Leticia Pérez-Calero; José Manuel Hurtado-González; Pilar Giráldez-Puig. 2018. "Board Attributes and Corporate Social Responsibility Disclosure: A Meta-Analysis." Sustainability 10, no. 12: 4808.

Research article
Published: 20 July 2018 in Corporate Social Responsibility and Environmental Management
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In the new economic scenario, characterized by a rapidly changing environment, companies are pushed into seeking new responses in order to survive and succeed. Companies are looking for new activities to improve their economic performance. Furthermore, these activities have been focused on innovation and/or socially responsible aspects. This paper analyzes the relationship between corporate social responsibility (CSR), innovation and its effect on performance. Especially, it shows if innovation has a fundamental role in the development of socially responsible practices or if social issues are responsible for practices that lead to greater innovation and, consequently, to greater performance. Data were collected from a sample of 121 Spanish wineries. The results show that CSR and innovation act as a mediator depending on the measurement of performance used. CSR, specifically, acts as a mediator between innovation and objective performance. However, managers perceive that the relationship between CSR and performance improves through innovation activities.

ACS Style

Jaime Guerrero-Villegas; Laura Sierra-García; Beatriz Palacios-Florencio. The role of sustainable development and innovation on firm performance. Corporate Social Responsibility and Environmental Management 2018, 25, 1350 -1362.

AMA Style

Jaime Guerrero-Villegas, Laura Sierra-García, Beatriz Palacios-Florencio. The role of sustainable development and innovation on firm performance. Corporate Social Responsibility and Environmental Management. 2018; 25 (6):1350-1362.

Chicago/Turabian Style

Jaime Guerrero-Villegas; Laura Sierra-García; Beatriz Palacios-Florencio. 2018. "The role of sustainable development and innovation on firm performance." Corporate Social Responsibility and Environmental Management 25, no. 6: 1350-1362.

Journal article
Published: 15 March 2018 in Spanish Journal of Finance and Accounting / Revista Española de Financiación y Contabilidad
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ACS Style

Jaime Guerrero-Villegas; Pilar Giráldez-Puig; Leticia Pérez-Calero Sánchez; José Manuel Hurtado-González. Ownership concentration and firm performance: the moderating effect of the monitoring and provision of resources board roles. Spanish Journal of Finance and Accounting / Revista Española de Financiación y Contabilidad 2018, 47, 464 -484.

AMA Style

Jaime Guerrero-Villegas, Pilar Giráldez-Puig, Leticia Pérez-Calero Sánchez, José Manuel Hurtado-González. Ownership concentration and firm performance: the moderating effect of the monitoring and provision of resources board roles. Spanish Journal of Finance and Accounting / Revista Española de Financiación y Contabilidad. 2018; 47 (4):464-484.

Chicago/Turabian Style

Jaime Guerrero-Villegas; Pilar Giráldez-Puig; Leticia Pérez-Calero Sánchez; José Manuel Hurtado-González. 2018. "Ownership concentration and firm performance: the moderating effect of the monitoring and provision of resources board roles." Spanish Journal of Finance and Accounting / Revista Española de Financiación y Contabilidad 47, no. 4: 464-484.

Journal article
Published: 27 October 2017 in Corporate Social Responsibility and Environmental Management
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ACS Style

Javier Aguilera-Caracuel; Jaime Guerrero-Villegas. How Corporate Social Responsibility Helps MNEs to Improve their Reputation. The Moderating Effects of Geographical Diversification and Operating in Developing Regions. Corporate Social Responsibility and Environmental Management 2017, 25, 355 -372.

AMA Style

Javier Aguilera-Caracuel, Jaime Guerrero-Villegas. How Corporate Social Responsibility Helps MNEs to Improve their Reputation. The Moderating Effects of Geographical Diversification and Operating in Developing Regions. Corporate Social Responsibility and Environmental Management. 2017; 25 (4):355-372.

Chicago/Turabian Style

Javier Aguilera-Caracuel; Jaime Guerrero-Villegas. 2017. "How Corporate Social Responsibility Helps MNEs to Improve their Reputation. The Moderating Effects of Geographical Diversification and Operating in Developing Regions." Corporate Social Responsibility and Environmental Management 25, no. 4: 355-372.

Journal article
Published: 02 October 2017 in European Journal of Management and Business Economics
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Purpose The purpose of this paper is to use stakeholder theory as the theoretical reference framework to study the influence of internationalization (geographic international diversification) and social performance on multinational companies’ (MNCs) reputation. Design/methodology/approach The authors confirm the research hypotheses using a sample of 113 US MNCs in the chemical, energy and industrial machinery sectors during the period 2005-2010. Findings This study contributes to the literature in three ways. First, it incorporates literature on internationalization to study the possible connection between geographic international diversification and social performance in MNCs. Second, it sheds light on the debate between corporate social responsibility (CSR) and the reputation of MNCs in a very diverse transnational context in which MNCs must meet the needs of stakeholders at both local and global levels. Third, it incorporates the mediating role of social performance in the relationship between geographic international diversification and the firm’s reputation. Originality/value Prior studies have hardly analyzed this relationship, which becomes especially relevant for MNCs, since their implementation of advanced CSR practices in the different markets in which they operate will gain them a good reputation, not only in specific local contexts but also globally, benefitting the organization as a whole and enabling it to gain internal consistency (improvement in internal efficiency), transparency and legitimacy.

ACS Style

Javier Aguilera-Caracuel; Jaime Guerrero-Villegas; Encarnación García-Sánchez. Reputation of multinational companies. European Journal of Management and Business Economics 2017, 26, 329 -346.

AMA Style

Javier Aguilera-Caracuel, Jaime Guerrero-Villegas, Encarnación García-Sánchez. Reputation of multinational companies. European Journal of Management and Business Economics. 2017; 26 (3):329-346.

Chicago/Turabian Style

Javier Aguilera-Caracuel; Jaime Guerrero-Villegas; Encarnación García-Sánchez. 2017. "Reputation of multinational companies." European Journal of Management and Business Economics 26, no. 3: 329-346.

Journal article
Published: 19 June 2017 in Management Decision
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Purpose Using a contingency approach, the purpose of this paper is to study how organizational factors (such as the organizational life cycle, firm size, firm ownership concentration and firm technology) determine the relative importance of the monitoring and provision of resources roles provided by board members. Design/methodology/approach This paper highlights the importance of contingency factors in carrying out board’s roles using a sample of 579 European firms registered in the STOXX Europe 600 index. The authors used a longitudinal analysis for the period from 2002 through to 2011. Findings The results show that the monitoring role is more relevant for companies that are large, are operating at the mature and stagnant stages, have a dispersed ownership and are low-technology. However, the provision of resources role is more relevant for companies that are in the growth and stagnant stages, and have a concentrated ownership. Originality/value The traditional analysis that relates the board’s structure and composition to the board’s roles focuses on determining what board should be the best. It plays little attention to analyzing which organizational factors affect the importance and presence of monitoring or resource dependence roles. In this regard, this work adds significant insights to agency theory and resource dependence theory as, with a contingency framework, the research aims to find what functions the board needs to develop in order to get better firm performance.

ACS Style

Leticia Pérez-Calero Sánchez; Jaime Guerrero-Villegas; José Manuel Hurtado González. The influence of organizational factors on board roles. Management Decision 2017, 55, 842 -871.

AMA Style

Leticia Pérez-Calero Sánchez, Jaime Guerrero-Villegas, José Manuel Hurtado González. The influence of organizational factors on board roles. Management Decision. 2017; 55 (5):842-871.

Chicago/Turabian Style

Leticia Pérez-Calero Sánchez; Jaime Guerrero-Villegas; José Manuel Hurtado González. 2017. "The influence of organizational factors on board roles." Management Decision 55, no. 5: 842-871.

Journal article
Published: 28 October 2016 in Revista Internacional de Organizaciones
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The aim of this paper is compare corporate governance and firm strategy before and after privatization. The design of control and performance evaluation systems in the pre and post-privatization periods is compared so that it can be understood in relation to the changes observed at a high corporate level (corporate governance and firm strategy). We carry out various case studies on five privatized Spanish companies. The results support several conclusions. First, the variables that are traditionally related to greater board independence in monitoring do not undergo variation after privatization. Second, the interests of the firms’ new ownership have an impact on firm strategy after privatization. Finally, control and performance evaluation system designs clearly align with firm strategy after privatization.

ACS Style

Gloria Cuevas-Rodríguez; Jaime Guerrero-Villegas; Ramon Valle-Cabrera. Comparison of corporate governance, strategy, control and performance e valuation systems before and after privatization. Revista Internacional de Organizaciones 2016, 99 -125.

AMA Style

Gloria Cuevas-Rodríguez, Jaime Guerrero-Villegas, Ramon Valle-Cabrera. Comparison of corporate governance, strategy, control and performance e valuation systems before and after privatization. Revista Internacional de Organizaciones. 2016; (16):99-125.

Chicago/Turabian Style

Gloria Cuevas-Rodríguez; Jaime Guerrero-Villegas; Ramon Valle-Cabrera. 2016. "Comparison of corporate governance, strategy, control and performance e valuation systems before and after privatization." Revista Internacional de Organizaciones , no. 16: 99-125.

Journal article
Published: 11 April 2016 in Journal of Organizational Change Management
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Purpose – The purpose of this paper is to analyze certain organizational changes that occur after privatization. More specifically, the authors analyze from an agency theory perspective how changes at the corporate governance level (ownership type/structure and board of directors) influence firm strategy, and what implications these issues have for the design of compensation mechanisms. Design/methodology/approach – The methodology employed in the study can be described as a longitudinal multiple case study approach. A multiple case study enables the comparison of pre- and post-privatization periods in five Spanish companies. This methodology is especially suitable to track the organizational changes occurring in relation to the firms’ internal management. Findings – First, the variables that traditionally relate to greater board independence in monitoring do not suffer from variation after privatization. Second, the interests of the firms’ new ownership have an impact on firm strategy after privatization. Finally, compensation system design clearly aligns with firm strategy after privatization. Research limitations/implications – The research is based on a multiple case study approach, which limits the scope and generalizability of the findings. Originality/value – Whereas research in privatization generally adopts a macroeconomic or political perspective, organizational and managerial implications are current aspects in need of further examination. This research offers a study that integrates three sets of variables (corporate governance, strategy and compensation) that have been rarely analyzed in this context.

ACS Style

Gloria Cuevas-Rodriguez; Jaime Guerrero-Villegas; Ramon Valle. Corporate governance changes, firm strategy and compensation mechanisms in a privatization context. Journal of Organizational Change Management 2016, 29, 199 -221.

AMA Style

Gloria Cuevas-Rodriguez, Jaime Guerrero-Villegas, Ramon Valle. Corporate governance changes, firm strategy and compensation mechanisms in a privatization context. Journal of Organizational Change Management. 2016; 29 (2):199-221.

Chicago/Turabian Style

Gloria Cuevas-Rodriguez; Jaime Guerrero-Villegas; Ramon Valle. 2016. "Corporate governance changes, firm strategy and compensation mechanisms in a privatization context." Journal of Organizational Change Management 29, no. 2: 199-221.

Journal article
Published: 23 October 2014 in Management International Review
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Multinational enterprises face numerous challenges due to the difficulties of operating in various markets and the usual cultural differences between the countries. As opposed to local firms, multinational firms are usually exposed to global pressure groups both in home and host countries. In addition, in order to gain license to operate in foreign markets, they are required to be regarded as socially responsible agents that contribute to sustainable development. Finally, apart from the moral reasons, high levels of corporate social performance will lead multinational enterprises to increase their reputation and legitimacy in the areas where they have operations and consequently increase their revenues and levels of financial performance. Traditionally, the literature has focused on studying the relationship between international diversification and corporate results, with very few studies on the effects of internationalisation on firms’ social performance. The aim of this study is to analyse the influence of international cultural diversification of a multinational enterprise on its corporate social performance and to investigate the moderating effect of slack financial resources on this relationship. The present empirical analysis is based on a sample of 113 multinational enterprises from the United States that operate in the chemical, energy and industrial sectors. The results demonstrate that international cultural diversification is positively correlated with the social performance of firms and that a high level of slack financial resources leads multinational enterprises operating in markets with different cultural profiles to improve their corporate social performance. The implications for academia, managers and policy makers are discussed.

ACS Style

Javier Aguilera-Caracuel; Jaime Guerrero-Villegas; María-Dolores Vidal-Salazar; Blanca L. Delgado-Márquez. International Cultural Diversification and Corporate Social Performance in Multinational Enterprises: The Role of Slack Financial Resources. Management International Review 2014, 55, 323 -353.

AMA Style

Javier Aguilera-Caracuel, Jaime Guerrero-Villegas, María-Dolores Vidal-Salazar, Blanca L. Delgado-Márquez. International Cultural Diversification and Corporate Social Performance in Multinational Enterprises: The Role of Slack Financial Resources. Management International Review. 2014; 55 (3):323-353.

Chicago/Turabian Style

Javier Aguilera-Caracuel; Jaime Guerrero-Villegas; María-Dolores Vidal-Salazar; Blanca L. Delgado-Márquez. 2014. "International Cultural Diversification and Corporate Social Performance in Multinational Enterprises: The Role of Slack Financial Resources." Management International Review 55, no. 3: 323-353.

Book chapter
Published: 10 February 2014 in Global Challenges to CSR and Sustainable Development
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This chapter analyses the changes observed in the corporate governance of companies after privatisation. Specifically, the study focuses on the analysis of how boards change their two main functions – control and provision of resources – when the company is transferred from public to private hands. This serves as a reference to emerging countries that use privatisation as a mechanism for economic development. Regarding the control function, the study shows the key role played by directors appointed before the Chief Executive Officer (CEO) in monitoring managers. This study also establishes the influence of external factors – such as regulation and competition in the sector – on the control function. Regarding the provision of resource role, the results highlight the importance of changing the configuration of the boards after privatisation – in terms of the profile of the directors – in order to acquire the necessary resources in the private stage of the firm. In this respect, the study indicates that directors who are business experts play a greater role after privatisation, and highlights the important presence of support specialists with specific skills at each stage of the company. The study also emphasises the limitations of some variables traditionally associated with the control function – leadership structure (non-duality) and outside directors – and with the provision of resources role – board size.

ACS Style

Jaime Guerrero-Villegas; Gloria Cuevas-Rodríguez; Ramón Valle-Cabrera. Corporate Governance in Emerging Markets: What We Can Learn from a Privatisation Context. Global Challenges to CSR and Sustainable Development 2014, 239 -265.

AMA Style

Jaime Guerrero-Villegas, Gloria Cuevas-Rodríguez, Ramón Valle-Cabrera. Corporate Governance in Emerging Markets: What We Can Learn from a Privatisation Context. Global Challenges to CSR and Sustainable Development. 2014; ():239-265.

Chicago/Turabian Style

Jaime Guerrero-Villegas; Gloria Cuevas-Rodríguez; Ramón Valle-Cabrera. 2014. "Corporate Governance in Emerging Markets: What We Can Learn from a Privatisation Context." Global Challenges to CSR and Sustainable Development , no. : 239-265.

Preprint
Published: 01 January 2014
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Whereas research in privatization generally adopts a macroeconomic or political perspective, organizational and managerial implications are current aspects in need of further examination. This study analyzes how firms’ corporate governance and strategy relate to the use of management compensation systems after privatization. A multiple-case study in five Spanish companies leads to a series of contributions: first, variables that traditionally relate to greater board independence in monitoring do not suffer from variation after privatization. Second, the interests of the new firms’ ownership have an impact on firm strategy after privatization. Finally, compensation system design clearly aligns with firm strategy after privatization.

ACS Style

Gloria Cuevas-Rodríguez; Jaime Guerrero-Villegas; Ramon Valle-Cabrera. Privatization effects on corporate governance, strategy and compensation systems. 2014, 1 .

AMA Style

Gloria Cuevas-Rodríguez, Jaime Guerrero-Villegas, Ramon Valle-Cabrera. Privatization effects on corporate governance, strategy and compensation systems. . 2014; ():1.

Chicago/Turabian Style

Gloria Cuevas-Rodríguez; Jaime Guerrero-Villegas; Ramon Valle-Cabrera. 2014. "Privatization effects on corporate governance, strategy and compensation systems." , no. : 1.