The Pacific Alliance: An Opportunity for a Sustainable System of Corporate Law and Governance in Latin America

Publication Title

The Cambridge Handbook of Corporate Law, Corporate Governance and Sustainability

Editor

Beate Sjåfjell and Christopher Bruner

Document Type

Contribution to Book

Publication Date

2019

Abstract

This chapter analyses the Pacific Alliance – an economic bloc formed by Chile, Colombia, Mexico, and Peru in 2011 – and its integrated stock exchange, the Mercado Integrado Latinoamericano (MILA). It contends that the Alliance has the potential to foster the transition toward a sustainable economy in Latin America, through a renewed system of corporate law and corporate governance. On the one hand, it asserts that Colombian Law 1901 of 2018, creating the Companies of Collective Benefit and Interest, initiated a healthy regulatory competition in corporate law among member states. On the other, it discusses alternatives to promote sustainable corporate practices through executive compensation, leveraging the legal convergence in corporate governance prompted by the integrated stock exchange. The Alliance’s economic strength and regional leadership further bolster its potential to bring about meaningful changes in the region.

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Recommended Citation

Alvaro Pereira, The Pacific Alliance: An Opportunity for a Sustainable System of Corporate Law and Governance in Latin America, in The Cambridge Handbook of Corporate Law, Corporate Governance and Sustainability 331 (Beate Sjåfjell & Christopher Bruner, eds. 2019).

DOI

10.1017/9781108658386.030

ISBN

9781108658386

First Page

331

Last Page

344

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