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Article at a glance:
- During this Global Entrepreneurship Week, CIPE celebrates Karolo Perez Vigil, a young Peruvian entrepreneur and a graduate of CIPE’s EmprendeAhora program.
- Karolo and his teammates received first prize in the capstone EmprendeAhora business plan contest for their idea for a bio tourism venture in the San Martín region of Peru.
- Karolo leveraged the success of his company, BioAdventure, to create a larger enterprise, Selva Constructor. With over $304,000 in revenue, Selva provides work for eight employees in its headquarters and on average 60 laborers on construction sites.
One way to approach the complex challenges of post-conflict reconstruction is to view the process as a balancing act of providing sufficient humanitarian relief without compromising longer-term development objectives. These longer-term objectives include the development of institutions – both physical infrastructure and social structures and mechanisms – that allow free market democracy to take root. Ultimately, the success of countries in building democratic governance and providing economic opportunities will be the determining factor in achieving prosperity, peace, and sustainability.Read more...
Commenting on the 2002 World Championships in basketball, a Serbian sports journalist could not help but notice that the two finalists – the national teams of Argentina and FR Yugoslavia (Serbia and Montenegro) – had more in common than being the best teams in the competition. The journalist was quick to point out the irony that the two best teams in the world represented countries crippled by the policies of the International Monetary Fund (IMF) and the World Bank.
The journalist may have been correct in highlighting similarities between these two countries in terms of the developmental challenges they face. The problem with his comment, however, was that it was based on perceptions, not on thorough analysis of economic and political institutions. In fact, he could have not been further away from the truth in blaming the World Bank and the IMF for the development challenges of the two countries.Read more...
At the heart of every governance system is a board (or boards) of corporate directors, charged with directing and overseeing corporate affairs. If one views the board as an institution of control through representation, one must recognize a multitude of its possible organizational arrangements. Just as a variety of mechanisms of political representation—from different structures of parliamentary bodies through different requirements for political representation to different election procedures—is compatible with a genuine political governance, so is a variety of different arrangements of corporate boards compatible with a genuine business governance. A particular arrangement tends to reflect historical, socioeconomic, political, and cultural factors unique to a particular country much the same way its political governance system does.Read more...
The Colombian Confederation of Chambers of Commerce (Confecámaras)
The Colombian Confederation of Chambers of Commerce (Confecámaras) was founded in 1969 at the initiative of local chambers of commerce in the country. Today, Confecámaras coordinates a 57-member network of chambers throughout Colombia. It represents business interests on the national level, provides research and consulting assistance to the business community, and coordinates training and institutional support for the organizations under its umbrella. Since 1999, CIPE has worked with Confecámaras on a variety of issues, notably corporate governance reform and anti-corruption initiatives.Read more...
Minority shareholders are often viewed as an unnecessary burden, a ‘dead weight,’ by majority owners of corporations. This view is widespread in many transitioning economies, where capital markets are weak, minority investors are not commonly viewed as a source of capital, and incentives for long-term value-creation are distorted. In such economies, majority owners often feel that while having comparatively little at stake, minority shareholders can slow down or sidetrack crucial investment-related decisions, be inactive at times when the need for restructuring is pressing, or place unreasonable demands on management. In other words, minority shareholders, in the eyes of majority owners, tend to increase transactions costs.Read more...
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The views expressed by authors are their own and do not necessarily represent the views of the Center for International Private Enterprise (CIPE). CIPE grants permission to reprint, translate, and/or publish original articles from its
The views expressed by authors are their own and do not necessarily represent the views of the Center for International Private Enterprise (CIPE). CIPE grants permission to reprint, translate, and/or publish original articles from itsEconomic Reform Feature Service provided that (1) proper attribution is given to the original author and to CIPE and (2) CIPE is notified where the article is placed and a copy is provided to CIPE’s Washington office.
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