Trabajo Decente en Grandes Empresas Familiares Latinoamericanas: Un Estudio de los Efectos del Control Familiar

Javier Brenes-Cardenas; Carolina Reyes; Karen Watkins-Fassler; Lazaro Rodriguez-Ariza

doi:10.24310/ejfb.14.2.2024.19826

Authors

Javier Brenes-Cardenas Universidad Popular Autónoma del Estado de Puebla, UPAEP, Mexico
Carolina Reyes Universidad Mariana, Colombia https://orcid.org/0000-0002-3903-8597
Karen Watkins-Fassler Universidad Internacional de La Rioja, UNIR, España / Tecnológico Nacional de Mexico, Mexico
Lazaro Rodriguez-Ariza Universidad de Granada Spain https://orcid.org/0000-0002-5650-7703

DOI:

https://doi.org/10.24310/ejfb.14.2.2024.19826

Keywords:

Family busines, Decent work, Corporate governance, Board independence , Latin America, Share concentration

Abstract

This study investigates how family ownership and governance structures influence the adoption of decent work practices in listed family firms in Latin America between 2010 and 2019. Decent work, as defined by the International Labor Organization, includes fair working conditions, job security, and social protection, all critical aspects for the dignity and well-being of workers. This topic is of great importance due to its impact on sustainable economic and social development. The objective of the study is to analyze how board independence, ownership concentration, CEO duality, and the presence of family CEOs affect the implementation of decent work practices. Using data from family firms listed on Latin American stock exchanges, multivariate regression analysis statistical techniques were used to assess these relationships. The results considering 432 observations show that a high concentration of family ownership favors the implementation of ethical and humane labor practices, reflecting the values of the family's socio-emotional wealth. Moreover, independent board members play a crucial role in promoting these practices, mitigating shareholder conflicts and balancing the interests of all stakeholders, benefiting all employees. This study expands the understanding of how specific characteristics of family firms can foster ethical labor management in emerging markets, providing valuable empirical evidence for policymakers and business leaders committed to improving labor practices and promoting decent work in these companies. It contributes to previous literature by offering a Latin American perspective on the interaction between family ownership and corporate governance in promoting decent work.

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