Clarke de la Cerda, AlvaroBarsallo, Carlos A.2014-07-232014-07-232008-05-15https://hdl.handle.net/10986/19013Focus 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.en-USCC BY 3.0 IGOACCESS TO CAPITALACCOUNTINGACQUISITIONACQUISITIONSAGENCY COSTSARBITRATIONAUDIT COMMITTEEAUDITSBOARD MEMBERBOARD RESOLUTIONBOARDS OF DIRECTORSBRANCHBROKERBUSINESS COMMUNITYBUSINESS CORPORATIONBUSINESS CORPORATION LAWBUSINESS CORPORATIONSBUSINESS OPPORTUNITIESCALL OPTIONCAPITAL INVESTMENTCAPITAL MARKETCAPITAL MARKETSCERTIFICATES OF DEPOSITCITIZENSCOMMERCIAL LAWCOMMON SHARESCOMPANYCOMPANY LAWCOMPETITORCONFIDENTIALITYCONFLICT OF INTERESTCONFLICTS OF INTERESTCONGLOMERATECONSENSUSCONTROLLING SHAREHOLDERCONTROLLING SHAREHOLDERSCORPORATE COLLAPSESCORPORATE CONTROLCORPORATE GOVERNANCECORPORATE GOVERNANCE LAWCORPORATE GOVERNANCE LAWSCORPORATE GOVERNANCE PRINCIPLESCORPORATE GOVERNANCE REFORMCORPORATE GOVERNANCE REFORMSCORPORATE GOVERNANCE SYSTEMCORPORATE GOVERNANCE SYSTEMSCORPORATE INFORMATIONCORPORATE PRACTICECORPORATE PRACTICESCORPORATE SOCIAL RESPONSIBILITYCORPORATE TAKEOVERSCORPORATIONCORPORATIONS LAWCOURT OF APPEALSCREDIBILITYCRITICAL MASSDEPOSITORYDERIVATIVEDEVELOPMENT BANKDISTRIBUTION COMPANYDIVIDENDDIVIDEND POLICIESDUE DILIGENCEENACTMENTENTREPRENEURSEQUAL TREATMENTEQUALITYEXCHANGE COMMISSIONEXPROPRIATIONFINANCE CORPORATIONFINANCIAL FLOWSFINANCIAL MARKETSFINANCIAL SECTORFINANCIAL STATEMENTSFINANCIAL SUPPORTFOREIGN INSTITUTIONAL INVESTORSFOREIGN INVESTORSFOREIGN MARKETSFRAUDGLOBAL CORPORATE GOVERNANCEGOVERNANCE PRACTICESGOVERNANCE REGULATIONGOVERNANCE REGULATIONSGROUP COMPANIESGROUP OF INVESTORSGROUP OF SHAREHOLDERSHOLDINGHOLDING COMPANYHOLDINGSHOSTILE TAKEOVERSINCOMING CONTROLLING SHAREHOLDERINCORPORATEDINCORPORATIONINDEPENDENT DIRECTORSINDIVIDUALSINSTITUTIONAL INVESTORSINSURANCEINTERESTS OF MINORITY SHAREHOLDERSINTERNATIONAL FINANCEINTERNATIONAL INVESTORSINTERNATIONAL RATING AGENCIESINVESTINGINVESTMENT FUNDINVESTMENT FUNDSINVESTMENT POLICIESJUDICIARYKIND OF COLLECTIVELARGE SHAREHOLDERSLAW FIRMLAWYERSLEGAL ENTITYLEGAL PROVISIONSLEGAL REFORMLEGISLATIONLEGISLATIVE REFORMLEGISLATORSLEGISLATURELISTED COMPANIESLLCLOCAL MARKETMAJORITY SHAREHOLDERMANAGEMENT CONTRACTMANAGERSMARKET DEVELOPMENTMARKET EQUITYMARKET PRICESMARKET REGULATORMERGERSMINISTRY OF FINANCEMINORITY INVESTORSMINORITY SHAREHOLDERMINORITY SHAREHOLDERSMONETARY FUNDMONEY LAUNDERINGNATIONAL SECURITIESOWNERSHIP STRUCTUREPARENT COMPANIESPARENT COMPANYPARTNERSHIPPARTYPENSIONPENSION FUNDPENSION FUNDSPERSONSPOLITICAL PARTIESPOLITICIANSPOOR GOVERNANCEPOTENTIAL BIDDERSPRESIDENTSPRIVATE BANKPRIVATIZATIONPROPORTIONAL REPRESENTATIONPUBLIC COMPANIESPUBLIC CORPORATIONSPUBLIC ENTERPRISESPUBLIC OFFERINGPUBLIC OFFERINGSPUBLIC OPINIONPUBLIC SALEPURCHASING POWERREGULATORY FRAMEWORKREGULATORY INSTRUMENTSREGULATORY REFORMREPRESENTATIVESREPUTATIONRIGHTS OF MINORITY SHAREHOLDERSRIGHTS OF SHAREHOLDERRISK PREMIUMSAVINGSSCANDALSCANDALSSECURITIESSECURITIES MARKETSECURITIES MARKET LAWSECURITIES MARKET REGULATIONSSECURITIES MARKETSSECURITIES REGULATORSECURITIES REGULATORSSETTLEMENTSHARE PRICESHAREHOLDER ACTIVISMSHAREHOLDER AGREEMENTSHAREHOLDERSSHAREHOLDERS MEETINGSHAREHOLDERS MEETINGSSHARES OF COMPANIESSOCIAL COSTSOCIAL SECURITYSTAKEHOLDERSSTOCK EXCHANGESTOCK MARKETSTOCK MARKET LAWSSTORESUBSIDIARIESSUBSIDIARYSWAPTAKEOVERTAKEOVER BIDTAKEOVER BIDSTAKEOVER REGULATIONSTAKEOVERSTERRORISMTHEORY OF THE FIRMTRANSACTIONTRANSFER OF OWNERSHIPTREASURYTRUSTEETRUSTEESVALUATIONVENTURE CAPITALVENTURE CAPITAL INVESTMENTVOTINGWEALTH CREATIONWITHDRAWAL10.1596/19013