중남미

The aim of this paper is test if the type of ownership (Foreign Private, Local Private and State) affects the financial performance of firms in Latin America in the period from 2005 to 2011. In order to reach this aim, a sample of 29 firms that operates in different countries from Latin America was selected (mainly from Brazil, Mexico, Chile, Argentina and Colombia). Likewise in order to measure the type of ownership, the firms of the sample were categorized in three kinds of ownership such as: foreign private, local private and state ownership. Likewise the Return on Equity (ROE) was used to measure the financial performance. Finally in order to reach the main aim of this paper, we test the hypothesis using a regression analysis with SPSS. The results shed that the type of ownership is not relevant to the financial performance in Latin American context.