Abstract
The historical and conceptual evolution of the organizational meaning of governance has been used in this chapter as an axis to explain the similarities and differences of an ignored paradigmatic case: Argentina. The chapter illustrates how the economic and political context could permeate almost all interpretations of the corporate governance (CG) discourse. The chapter starts with a brief discussion of the contrast between Anglo-Saxon and Latin American interpretations of CG, moved to explain how CG poor and subjective understanding in Argentina followed the similar pattern of the country decadence in the past 30 years and how this understanding was reflected in the legislation and regulations; the conclusion is that corporate governance practices are largely non-existent and at best really, emergent. Examples are given on how multiple forces shaped Argentinean companies and corporations and how these forces have affected the meaning and implementation of corporate governing in the country. The chapter concludes that decades of entrenched organizational practices of trust and mistrust could be one of the reasons why the successful implementation of corporate governance in Argentina is still under construction.
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Notes
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The number one company in Argentina, the multinational Arcor, tried for years to recruit an external CEO. The third generation of founders (the company was founded in 1951 but its origins date from 1924) are still in charge of the daily management of the company even though an alliance with Coca-Cola was signed in 2010. This similarly happened with Techint, now a global MNCs, founded in 1945, where a fourth generation of managers of the same family still run the company. In both cases, the origins of the corporations were constructed as ancient stories of Italian founders. Mistrust in non-family ties was a common practice when governance these corporations.
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BO/14-2-2018.
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Gaggiotti, H., de los Ángeles Lucero Bringas, M., Adelopo, I. (2023). Argentina. In: Callund, J., Jiménez-Seminario, G., Pyper, N. (eds) Corporate Governing in Latin America. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-85780-6_6
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