Management control systems in argentine companies listed in the US.
DOI:
https://doi.org/10.22320/hem.v24i2.4733Keywords:
ADRs, New York Stock Exchange, Buenos Aires Stock Exchange, NASDAQ, Management control systemsAbstract
It is becoming increasingly common to speak of Management Control Systems (hereinafter MCS), defined as a set of management practices that provide information to managers for decision making, operational and strategic, and control in environments of permanent change of risk and uncertainty (Gómez Conde et al, 2014).
In the United States of America (hereinafter USA) there are Argentine companies that list and trade their ADRs (American Depositary Receipt) on the New York Stock Exchange or on the National Association of Securities Dealers Automated Quotation (NASDAQ). ADRs are negotiable certificates issued by commercial banks representing a certain amount of shares, bonds or other financial instruments of a company incorporated outside the USA.
The objective of this paper is to review whether these companies mention the use of SCGs in their annual reports or financial statements that they regularly file with the SEC (US Securities and Exchange Commission) or with the Buenos Aires Stock Exchange. The results do not show a trend towards voluntary disclosure of SCGs.
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