<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>1900-3803</journal-id>
<journal-title><![CDATA[Entramado]]></journal-title>
<abbrev-journal-title><![CDATA[Entramado]]></abbrev-journal-title>
<issn>1900-3803</issn>
<publisher>
<publisher-name><![CDATA[Universidad Libre de Cali]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S1900-38032020000200012</article-id>
<article-id pub-id-type="doi">10.18041/1900-3803/entramado.2.6435</article-id>
<title-group>
<article-title xml:lang="en"><![CDATA[CEO Duality and Firm Value: Evidence from Mexico]]></article-title>
<article-title xml:lang="es"><![CDATA[Dualidad del CEO y valor de la empresa: evidencia de México]]></article-title>
<article-title xml:lang="pt"><![CDATA[Dualidade do CEO e valor da empresa: evidências do México]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Dávila-Velásquez]]></surname>
<given-names><![CDATA[Juan Pablo]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Lagos-Cortés]]></surname>
<given-names><![CDATA[Diógenes]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad de La Sabana  ]]></institution>
<addr-line><![CDATA[Chía ]]></addr-line>
<country>Colombia</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad de La Sabana  ]]></institution>
<addr-line><![CDATA[Chía ]]></addr-line>
<country>Colombia</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2020</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2020</year>
</pub-date>
<volume>16</volume>
<numero>2</numero>
<fpage>12</fpage>
<lpage>23</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_arttext&amp;pid=S1900-38032020000200012&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_abstract&amp;pid=S1900-38032020000200012&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_pdf&amp;pid=S1900-38032020000200012&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="en"><p><![CDATA[ABSTRACT Regulators and corporate governance activists are lobbying companies to eliminate the CEO duality; however the effectiveness of this recommendation is questioned given that empirical evidence has found conflicting results. This document studied the effects of the CEO's duality on the value of the company in a sample of 104 Mexican companies that were publicly traded between 2000 and 2013. For this, different regression models were estimated using the ordinary least squares technique. The firm value was measured through Tobin's Q and ROA. Empirical results showed that there is no relationship between CEO duality and value after controlling for board characteristics such as size and independence. JEL CLASSIFICATION M10, G32, G34]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[RESUMEN Los reguladores y los activistas del gobierno corporativo están presionando a las empresas para que eliminen la dualidad del CEO, sin embargo, la efectividad de esta recomendación es cuestionada dado que la evidencia empírica ha encontrado resultados contradictorios. Este documento estudió los efectos de la dualidad del CEO en el valor de la empresa en una muestra de 104 empresas mexicanas que cotizaron públicamente entre 2000 y 2013. Para esto, se estimaron diferentes modelos de regresión utilizando la técnica de mínimos cuadrados ordinarios. El valor de la empresa se midió a través de la Q de Tobin y el ROA. Los resultados empíricos mostraron que no existe una relación entre la dualidad del CEO y el valor de la empresa después de controlar las características de la junta, como el tamaño y la independencia. CLASIFICACIÓN JEL M10, G32, G34]]></p></abstract>
<abstract abstract-type="short" xml:lang="pt"><p><![CDATA[RESUMO Os reguladores e os activistas do governo das sociedades estão a pressionar as empresas para eliminar a dualidade do Presidente da Comissão Executiva, no entanto, a eficácia desta recomendação é posta em causa, uma vez que provas empíricas têm encontrado resultados contraditórios. Este documento estudou os efeitos da dualidade dos CEO no valor da empresa numa amostra de 104 empresas mexicanas negociadas publicamente entre 2000 e 2013. Para tal, foram estimados diferentes modelos de regressão utilizando a técnica dos mínimos quadrados comuns. O valor da empresa foi medido pelo Q de Tobin e o ROA. Os resultados empíricos mostraram que não existe relação entre a dualidade do CEO e o valor da empresa depois de controlar para características do conselho como a dimensão e a independência. CLASSIFICAÇÃO JEL M10, G32, G34]]></p></abstract>
<kwd-group>
<kwd lng="en"><![CDATA[Corporate governance]]></kwd>
<kwd lng="en"><![CDATA[CEO duality]]></kwd>
<kwd lng="en"><![CDATA[firm value]]></kwd>
<kwd lng="en"><![CDATA[agency theory]]></kwd>
<kwd lng="en"><![CDATA[stewardship theory]]></kwd>
<kwd lng="es"><![CDATA[Gobierno corporativo]]></kwd>
<kwd lng="es"><![CDATA[dualidad del CEO]]></kwd>
<kwd lng="es"><![CDATA[valor de la empresa]]></kwd>
<kwd lng="es"><![CDATA[teoría de la agencia]]></kwd>
<kwd lng="es"><![CDATA[teoría de la mayordomía]]></kwd>
<kwd lng="pt"><![CDATA[Governança corporativa]]></kwd>
<kwd lng="pt"><![CDATA[dualidade do CEO]]></kwd>
<kwd lng="pt"><![CDATA[valor comercial]]></kwd>
<kwd lng="pt"><![CDATA[teoria da agência]]></kwd>
<kwd lng="pt"><![CDATA[teoria da administração]]></kwd>
</kwd-group>
</article-meta>
</front><back>
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