Access to Firm Credit, 20
Audit and Accounting Practices, 14
Big linkers, 77
Board composition
in Mexico, 57–58
age, 60–61
board evaluation, 72
board meetings, 72–73
duality, 62
education, 65–66
firm age, 68
firm internationalization, 73–74
foreigners, 58–59
functional background, 66–68
government experience, 64–65
independence, 62–64
industry, 68–69
international experience, 64
listed foreign exchanges, 74–75
number of committees, 70–72
reputation, 70
tenure, 61–62
women, 59–60
Board evaluation, 72
Board meetings, 72–73
Boards of family firms, 38–56
Bonding, 74
Brazilian Institute of Corporate Governance (IBGC), 91
Breach of loyalty, 19
Buffet, Warren, 36
Business groups, 25–31
Calderon, Felipe, 6
Carlo’s Slim group, 31
Centro de Investigación y Docencia Económica (CIDE), 14
Claudio, Don, interview with, 85–86
Contract Enforceability, 20
Corporate governance
in Mexico, 17–18
business groups, 25–31
code of good governance, 20–23
corporate law, 18–20
equity market, 23–25
obstacles for improving, 82, 85–86
recent studies on, 31–33
Corporate Governance Legitimacy Index, 14
Corporate Governance Manual, 89
Corporate law, 18–20
Corporate networks in Mexico, 77–80
Corporate ownership, 17
Corruption, 7
Diversified business groups, advantages of, 25
Doing Business 2015 report, 24
East Asian crisis of 1997 to 1998, 21
Education, positive effect of, 65–66
Emerging market context
agency problem, 1
corporate governance, 1–2
expropriation from minority shareholders, 2, 4
institutional weakness, 2–3
politically connected managers, 4
principal–principal problems, 3, 4
Equity market, 23–25
External auditors, 19
Family involvement
in boards, 38–56
family firms, 35–36
in management, 37
in ownership, 38
Family-led capitalism, 8
Firm reputation, 70
Foreign Corrupt Practices Act, 15
Foreigners, board composition in Mexico, 58–59
43/214 on political stability and absence of violence, 7
49/214 on corruption, 7
Functional background diversity, 66–68
Gender diversity, 59
General Agreement on Tariffs and Trade (GATT), 18
Global Competitiveness Index, 20
Globalization, 74
Initial public offering (IPO), 23–24
Instituto Mexicano para la Competititivdad (IMCO), 14
International membership, 58
Internationalization, 73–74
Law of Mercantile Societies, 18–19
Law of Securities Markets, 18–19
Management, family in, 37
Mexican context
culture, 11–12
demographics, 8–10
economy, 5–6
education, 10–11
institutions, 6–8
Mexican financial crisis of 1994, 20–21
Mexican governance model, 13–16
Mexican Stock Exchange, 17–18
Minority ownership, 17
Minority Shareholders Rights Protection, 20
NAFTA, 5
National Banking and Stock Market Commission, 17–18
National System against Corruption, 15
Nationality, 58
New York Stock Exchange (NYSE), 71
94/214 on voice and accountability, 7
North American Industry Classification System (NAICS), 68
128/214 on government effectiveness, 7
138/214 on regulatory quality, 7
Organisation for Economic Co-operation and Development (OECD), 6
better life index of 2016, 10–11
Output functions, 67
Ownership, family in, 38
Peripheral functions, 67
Personal Security and Private Property Rights, 14
Public responsibility, 71
Reputation, idea of, 70
Sarbanes–Oxley Act, 71
Serra-Puche, Jaime, 79
interview with, 81–84
71/214 on rule of law, 7
Shareholder activism, 17
Social Responsibility, 14
Socioemotional wealth, 36
concept of, 36
Succession, 37
Tax reform, 6
Taxonomy of institutional systems, 8
Tecnológico de Monterrey (ITESM), 11
Throughput functions, 67
Times Higher Education World University Rankings, 11
Transnational, 73
Tunneling, 38
UN World Tourism Organization, 8
Universidad Nacional Autónoma de México (UNAM), 11
Walmex, 26
Worldwide governance indicators, 6