Abstract

The objective of this work is to analyze the degree of correspondence between the adoption of corporate governance practices and the creation of value of the main companies listed on the Chilean stock market during the period 2015-2017. The measurement is made from the calculation of the indicators, economic added value, added market value and return on equity, and their correlation with respect to the degree of adoption of corporate governance practices through the Pearson coefficient. Specifically, the results indicate that the degree of adherence to corporate governance practices was low, regarding the correlations between the variables, these were very disparate, specifically in the case of added economic value, the relationship was very weak and negative, in in the case of added market value the relationships were weak and positive, while in the case of return on equity the relationship was very weak and negative. It is concluded that the level of adherence to corporate governance practices of the main Chilean companies listed on the stock exchange is low or incipient, extending this concern to companies that are not part of the main stock market index in Chile.