Financial effects of the corporative government and ethics in Mexico’s businesses: the case of Cemex and TV-Azteca

Pablo Lopez Sarabia


This article shows that the bad practices of the corporative government and the ethical absence can affect the financial performance of the companies  specially  its  market  value.  It  is  analyzed the  TV-Azteca  which  faces  a  swindle  demand for a rebuying of debt violating the regulation of the  versatile  market  of  the  United  States  specially the Sarbanes-Oxley Law, the econometric results show that the value and  the price of  the company have  decreased since  the beginning of the Securities and Exchange Commission (SEC) research.  The  Cementos  Mexicanos  (Cemex) is a company that developed an internal code of ethics and that adjusted  itself  to the  Código de Mejores Práticas Corporativas (Best Corporative Practices  Code),  besides  being  an  enthusiastic motivator of the  good practices  of the  corporative government.


Corporative Government. Econometry. Ethics in Business. Sarbanes-Oxley Law.

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Iberoamerican Journal of Strategic Management  e-ISSN: 2176-0756

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