Adoption of corporate governance practices of the chilean market in triennium 2015 – 2017

Abstract

The present research describes the degree of adoption of corporate governance practices of 203 Chilean open anonymous corporations during the 2015-2017 triennium, in compliance with the Norm of General Character N°385. The aforementioned practices must be reported annually to the securities market regulator in Chile, called Comisión para el Mercado Financiero (Commission for the Financial Market). The data analysis, within a confidence interval of 95%, was divided into two stages. First, with a descriptive statistical analysis, and secondly, the presentation of the levels of adoption at the market level, categories and principles for the periods 2015, 2016 and 2017. In both stages, it was established that the degree of adoption is low (close to 30%), and that in the three years of study no interest to make significant improvement in the adoption of corporate governance practices has been evidenced by the corporations.