...at Urbana-Champaign We assembly new data on dual-class firms in Latin America and analyze the relationship between the largest shareholder characteristics and its decision to leverage voting rights. First, we describe who are the largest shareholders in Latin American firms. Second, we find that both the type and origin of the largest shareholder, together with firm- and country-level characteristics, are important determinants to explain the decision to separate voting from cashflow rights. To tackle the determinants of ownership in Latin American publicly listed firms has both managerial and policy implications because the largest shareholders are those in charge to define business strategies and the allocation of firms’ resources. Key words: Corporate ownership; dual-class shares; voting rights; cash-flow rights; Latin America. 1 INTRODUCTION Most of the analysis of the Modern Corporation has focused on the conflicts of interest between managers and owners. Yet, recent literature, extending the discussion of the classic ownermanager conflict, adds minority versus majority shareholders conflict where more concentrated ownership structures takes place (La Porta, López-de-Silanes, & Shleifer, 1999; Villalonga & Amit, 2009; Young, Peng, Ahlstrom, Bruton, & Jiang, 2008). This new agency problem, socalled, principal-principal, is particularly salient in emerging markets, where weak governance rights and underdeveloped institutions may account for high levels of ownership...
Words: 14854 - Pages: 60
...important to vote? voting is more important than the bullet. I think that is a really strong quote and i really like it because it has a sequences like jail or they could take you to court . That is why it is important to vote be cause we have a right to. “The ballot is stronger than the bullet.”-Abraham Lincoln. This quote means One of the reasons not to vote is some presidents are for bad stuff. One president was voting for abortion. And other bad stuff like really really bad stuff. But I personally like voting. Well kinda. Sometimes. The reason you should is because it is a honer. Some people don’t take it as a honer. But i do but i am not saying it you shouldn’t vote i think we should. Everybody...
Words: 1617 - Pages: 7
...citizen. Voting is a personal choice for Americans. The fears of losing rights and freedom have been present for many decades and centuries. Everybody is concerned that citizens may not be as free as they once were. People fought hard to make every American citizen free. Citizens who complain that our government is not perfect and is not doing well for the United States are people who usually do not even vote. One vote can make a difference. Citizens are extremely concerned with our rights and freedom, but do not even attempt to make a change. Citizens are capable of holding the responsibility of voting and being a United States citizen. Although citizens are capable, Americans do not attempt to be more informed. I think that if a citizen is more informed, the better choices that then leads to better decisions in the United States. Citizens are responsible for their own country and they need to take part in making this country succeed. Politicians may not always make the best decisions, so when citizens have the chance; they need to get their thoughts and words out. United States Citizens are Americans; citizens of the United States are live in freedom and have rights. Citizens need to remember that they became free and that the freedom leads them to make decisions that are best for every body, including themselves. If one does not vote, then one does not have a chance to get their opinions out. Voting is a personal chance and everybody has the right to vote. If...
Words: 1449 - Pages: 6
...One of the most predominant and upheld ideas in America is the belief in personal freedom. It is the freedom to choose our own actions, the gift of choice and having multiple options for every decision. This idea is reflected in many aspects of America, including the voting system; American citizens have always had the option of voting since its creation. But given that American citizens have the choice to vote, many opt not to, which results in low voter turn outs. In contrast, some countries have compulsory voting, a forced system of voting to improve low voter turn outs. While a good idea in theory, there is many flaws in the idea of compulsory voting. In order to enforce compulsory voting, national governments must have punishments for those who neglect voting, and this intrudes onto...
Words: 1086 - Pages: 5
...The right to vote is one of the most significant rights we have as American citizens. A right of this importance should be treated with the utmost respect and admiration. Due to it being to so essential for the country to get along smoothly, the right to vote should not be lowered. The current voting age is adequate although changes can be made. Well informed, mature voters are the key to making good choices when election time comes around. Lowering the voting age would create problems that America does not need to deal with. The main reason the voting age should not be lowered is there is an excessive amount of people below the age of 18 are not responsible enough to vote. Voting should be taken very seriously, since it decides who holds office in America. A great deal of young students do not grasp the gravity of casting a ballot. Is every single high school student fit to vote? Of course not. Can they become adequate voters as time passes? Absolutely. Trusting 16 year old trouble makers and class clowns to make a mature decision is not a great idea. These same kids, however, may grow up to be productive, mature citizens. Any age less than 18 is simply too low to allow to vote....
Words: 545 - Pages: 3
...Felon Voting In the United States, people convicted with felony are barred from participating in voting in any election. According to Lawyers' Committee for Civil Rights Under Law (2008), it is estimated that about five million felony victims have been denied this chance, a condition referred to as disenfranchisement. Every state in America has its own law concerning disenfranchisement. Felons are only allowed to vote in Maine and Vermont states (Lawyers' Committee for Civil Rights Under Law, 2008). Some states demand that felon re-enfranchisement should be enhanced to allow felons who have already completed their sentence to participate in elections. They argue that their privileges and rights should be restored by allowing them to cast votes. According to them, blocking felons from voting is undemocratic, unfair, racially, and politically motivated while opponents state that felons have poor judgment, and should not be entrusted with this fundamental right. This research paper gives a clear summary of two articles concerning their position on felon voting. The first article is Liberal and republication argument against the disenfranchisement of felons by Jeffrey Reiman, and the second one is Locked out: felon disenfranchisement and America democracy by Jeff Manza and Christopher Uggen. Both articles indicate that disenfranchisement of criminal offenders who are already through with their sentences is ethically and morally wrong. The two authors lobby for the enfranchisement...
Words: 1574 - Pages: 7
...instead of going out to vote the only answer seems to be mandatory voting. Given all of the rights a U.S. citizen is given the least they could do is vote in government official elections and on significant laws and bills, and by making voting mandatory the United States can become a true democracy. In addition, if voting became mandatory then the poor and uneducated would get a voice in our government. However, many would argue, that with the right to vote comes the right not vote. In contrast, by no voting the people of the United States cannot choose what and who can uphold their rights and other personal liberties. Mandatory...
Words: 688 - Pages: 3
...Voting Problem in America Voting Problem in America Numerous studies have been steered to support with observing for influences that will demonstration by public do not contribute in voting. It has remained a mounting difficulties with appropriate voters not registering and object their ballot. Over the decades, Americans have vanished trace with the antiquity of voting. Voting for in determinations supports in providing underpinning on why society do not participate in voting. Analyses provide tangible influences with why societies do not vote with illustration clusters support. Discovery of behaviors will show the unabridged development with the existing system supports with the American community. The 2008 elections enquiry provides awareness with the diverse motives from highest to lowest. Giving some understanding on the origin of the unruly and outcome resolutions to battle these problems. Examination can transform that are currently in domicile and assuring voting contributions on the ability to speak on the issues and distresses. Observing at other countries for potential solutions to the problem can be one riposte for the United States voting delinquent. Using tads and shards can support with altering he existing classification that does not work. Without transformation, the voting contribution will endure to diminish. The history behind the voting in America helps wonder why this pass civil liberty has fallen to many Americans waist side in today’s world. As America...
Words: 5750 - Pages: 23
...Speech Analysis Rough Draft: “We Shall Overcome” In early March of 1965, civil rights voting marches in Selma, Alabama went from a silent protests to violent assaults and beating by police officials. The goal of the march was to focus on allowing voting registration for blacks in the South because whites were preventing the rights of the American people by creating impossible tests for minorities to take in order to vote. After a week passed on March 15, 1965, President Lyndon B. Johnson spoke out in response to the Selma-to-Alabama March. His purpose was to unite the American people in the task to get equal voting rights for all races-- according to the Constitution. He is addressing his ideas to Congress, but he intends to convince the citizens...
Words: 1865 - Pages: 8
...United States of America voting is a part of the U.S.’s freedom. In the USA may states are making it so not all the US citizens can't vote. These who can not vote have committed a crime. Either if it was a big crime a small crime the can't vote in some states. Many people are very anger by this because they simply made a dumb mistake as a teenager. Now they are having part of their freedom taken away even tho they have moved on and have a better life now. Voting should have restrictions but not taken away altogether. Out of 50 states only 2 have given the right to vote to every us citizen in the state. Even if they have committed a crime or not. Only Maine and Vermont are the only states in the USA to have all us citizens. Fourteen...
Words: 773 - Pages: 4
...The Empowering 19th Amendment by Chris Shively The 19th Amendment was not only an amendment that allowed women the right to vote, but was also a major milestone in the history of the United States itself. Leaders such as Susan B. Anthony and Elizabeth Cady Stanton organized many of the parades, protests, and demonstrations across the nation to bring attention to the issue. The suffragists, advocates of the voting rights for women, made several sacrifices and the eventual passage of the 19th Amendment resulted in progress to America, one of which is educating new American citizens on the importance of this amendment. The suffragist movement has a long history and included many sacrifices. Beginning in New York, with the Seneca Falls convention in 1848, women rallied for the right to vote. Twenty-one years later, few state constitutions allowed women the right to vote. However, women wanted it written in the U.S. Constitution. So in 1869, Anthony and Stanton formed the National Woman Suffrage Association. Two years later, in 1871, a petition signed by Anthony, Stanton, along with four other suffragists, was sent to Congress asking that voting rights be given to women. The petition also asked that women be given the right to speak in Congress. The petition noted that, “Men are represented on the floor of Congress and so may be said to be heard there. Women are allowed no vote and therefore no representation cannot truly be heard except as Congress shall open its doors to...
Words: 1500 - Pages: 6
...interesting is that older women are actually less likely to vote than older men. Having the right to vote is the most important right granted by the constitution. Although explanations from some young people are they do...
Words: 948 - Pages: 4
...In the United States many things influence voter turnout. For example, voting laws, they started adding more to increase the number of people voting. One way they accomplish this was by motor voter laws and this made it easier for people to register to vote. Another thing that has impact on voter attendance is demographics, like education and age. The statics show that people with a higher education and who are higher in age are more likely to vote than others. Also, constitutional requirements affect the voter turnout in America and examples of these are the fifteenth amendment, nineteenth amendment, and twenty-sixth amendment. These three amendments where put in place to have equal voting rights for all citizens. As a result, the voter turnout varies for...
Words: 1496 - Pages: 6
...Living in a democratic society is a value and should not be underestimated. It provides its citizens the right to freely make choices to expand their potential as human beings. As a United States citizen, we are characterized as a member of having rights and responsibilities allowed, protected and supported by the U.S. Constitution and Declaration of Independence. “We are a nation bound not by race or religion, but by the shared values of freedom, liberty, and equality”. (College for America, n.d.a). Throughout history, the United States has entertained and greeted immigrants from many countries. Immigrants have helped to form and establish the United States as we see it today. U.S. Citizens has the right to express their opinions on how the...
Words: 1025 - Pages: 5
...“A teenage brain is not just an adult brain with fewer miles on it (Jensen 1).” According to Neurologist Frances E. Jensen, teens are not mentally developed, thus it can make them incapable of making crucial decisions. When it comes to voting, teens cannot always be trusted with America’s fate. Since many teens are not interested in the world of politics, they are improbable to be concern of what is happening. At the age of 16 and 17, teens are not able to make crucial decisions yet, therefore, how are they going to be able to make the right decision for the nation? Despite the reasons for lowering the voting age to 16, lowering the voting age to 16 is a catastrophic mistake because teenagers are easily swayed, are immature, and are irresponsible. The fact of the matter is that teens are easily swayed, which makes lowering the voting age to 16 unacceptable. “This leaves teens easily influenced by their environment and more prone to impulsive behavior, even without the impact of souped-up hormones and any genetic or family predisposition (Ruder 1).” According to Harvard Magazine, teens are likely to be swayed by influences such as school, friends,...
Words: 1202 - Pages: 5
