ESTE ARTÍCULO ANALIZA EL IMPACTO DE CUATRO ATRIBUTOS DEL CONSEJO DE ADMINISTRACIÓN SOBRE EL DESEMPEÑO DE 101 EMPRESAS NO FINANCIERAS DE BRASIL, CHILE Y MÉXICO, VIGENTES EN EL PERIODO 2011-2017. ADEMÁS, SE INNOVA AL EXPLORAR EL EFECTO REZAGADO DE TALES ATRIBUTOS PARA ABORDAR LA CAUSALIDAD INVERSA IDENTIFICADA EN LA LITERATURA. LA ESTIMACIÓN DE MODELOS DE DATOS DE PANEL ESTÁTICOS Y DINÁMICOS REVELA UN EFECTO POSITIVO DE LA INDEPENDENCIA DEL CONSEJO SOBRE EL DESEMPEÑO CONTABLE DE FIRMAS BRASILEÑAS Y CHILENAS. LA EVIDENCIA REPORTADA ES MIXTA EN CUANTO A LA DUALIDAD DE CARGO, MIENTRAS QUE SE IDENTIFICA UNA RELACIÓN POSITIVA, CUADRÁTICA Y CÓNCAVA PARA EL TAMAÑO DEL CONSEJO. FINALMENTE, NO SE ENCUENTRA EVIDENCIA DE QUE LA DIVERSIDAD DE GÉNERO REDITÚE EN UN MEJOR DESEMPEÑO PRESENTE Y FUTURO.

SINCE THE PUBLIC ASSESSMENT OF POLITICAL LEADERSHIP IS MORE EVIDENT DURING CRISIS EVENTS, NATURAL DISASTERS HAVE BECOME A PLAUSIBLE EXPLANATION FOR ELECTORAL OUTCOMES AND PUBLIC SUPPORT. THIS IMPOSES A PROMINENT CHALLENGE FOR DEVELOPING COUNTRIES, WHICH ARE LESS PREPARED TO DEAL WITH CATASTROPHES. THIS PAPER PROPOSES A THEORETICAL AND AN EMPIRICAL APPROACH TO EVALUATE THE UNRESTRICTED AND CONDITIONAL IMPACT OF NATURAL DISASTERS ON THE CONTINUITY OF LOCAL AUTHORITIES. OUR THEORETICAL FRAMEWORK TREATS NATURAL DISASTERS AS AN EXOGENOUS SHOCK THAT IS BEYOND THE INCUMBENT?S INFLUENCE BUT PROVIDES VALUABLE INFORMATION TO RATIONAL VOTERS ABOUT HIGH-QUALITY CANDIDATES. THE EMPIRICAL APPROACH USES COUNTY-LEVEL DATA TO TEST THIS MODEL BY ESTIMATING THE IMPACT OF THE CHILE EARTHQUAKE OCCURRED IN 2010 ON RE-ELECTION PROBABILITY AND INCUMBENT MAYOR?S VOTE SHARE. AGGREGATE- AND INDIVIDUAL-LEVEL EVIDENCE SHOWS THAT INCUMBENTS? CONTINUITY IS NOT UNCONDITIONALLY THREATENED DUE TO THE EARTHQUAKE, BUT CONTINGENT ON CONDITIONING FACTORS THAT EXACERBATE OR MITIGATE ITS NEGATIVE EFFECT ON INCUMBENCY ADVANTAGE. THAT IS, LOCAL GOVERNMENTS WITH HIGHER HUMAN CAPITAL ENDOWMENTS AND A BETTER POST-DISASTER ASSESSMENT ARE MORE LIKELY TO BE RE-ELECTED IN CHILE.

THIS PAPER ADDRESSES THE DIFFERENCES IN THE RETURN TO EDUCATION BETWEEN TWO REGIONS WITH THE GREATEST NUMBER OF HIGHER-EDUCATION INSTITUTIONS IN CHILE, BIOBIO AND METROPOLITANA. SEVERAL VARIANTS OF THE MINCER EQUATION ARE ESTIMATED UNDER THE HECKIT APPROACH USING DATA FROM THE CASEN SURVEY OF 2000 AND 2011. THE RESULTS CONFIRM THE EXISTENCE OF TERRITORIAL DIFFERENCES TO THE DETRIMENT OF THE BIOBIO REGION, WHICH ARE OBSERVED IN THE RETURNS TO EDUCATION, LABOR EXPERIENCE, AND CREDENTIAL EFFECT. FURTHERMORE, THE EVIDENCE SUPPORTS THE IDEA OF A STRONG GENDER GAP IN EARNINGS INSIDE BOTH REGIONS AND THE PRESENCE OF ETHNIC DISCRIMINATION IN THE METROPOLITANA REGION.

THIS PAPER ANALYZES THE STOCK-MARKET RESPONSE TO MONETARY POLICY DECISIONS MADE BY THE CENTRAL BANK OF CHILE. WE USE A METHODOLOGY DESIGNED FOR THE STUDY OF LOW FREQUENCY EVENTS AND MONTHLY DATA FROM SEPTEMBER 2001 TO DECEMBER 2013 TO ESTIMATE THE EFFECT OF ANTICIPATED AND UNANTICIPATED CHANGES IN THE CHILEAN MONETARY POLICY INTEREST RATE ON STOCK RETURNS. IN CONTRAST TO THE RESEARCH FINDINGS IN THE LITERATURE FOR THE U.S., WE FIND NO EVIDENCE THAT MONETARY SURPRISES AFFECT CHILEAN STOCK RETURNS.

LA RELACIÓN ENTRE EL GASTO PÚBLICO EN EDUCACIÓN Y LA DESIGUALDAD DE INGRESOS ES ABORDADA ANIVEL COMUNAL PARA EL CASO CHILENO. EN PARTICULAR, SE ANALIZA EL EFECTO DEL GASTO PÚBLICO MUNICIPAL PER CÁPITA EN EDUCACIÓN SOBRE LA DESIGUALDAD EN LA DISTRIBUCIÓN DE INGRESOS AUTÓNOMOS PARA LAS COMUNAS DE CHILE, SIENDO ESTA ÚLTIMA MEDIDA A TRAVÉS DE LOS ÍNDICES DE GINI Y THEIL Y LOS INDICADORES 10/10 Y 20/20. EL ESTUDIO LONGITUDINAL CONSIDERA 307 COMUNAS CHILENAS CON EL OBJETO DE ESTIMAR MODELOS PROBIT DE RESPUESTA FRACCIONAL PARA EL COEFICIENTE DE GINI Y TOBIT CON EFECTOS ALEATORIOS PARA LOS RESTANTES INDICADORES DE DESIGUALDAD DE INGRESOS. LOS PRINCIPA- LES HALLAZGOS INDICAN QUE AUMENTOS EN EL NIVEL DE GASTO EN EDUCACIÓN PER CÁPITA REDUCIRÍAN LA DESIGUALDAD DE INGRESOS EN LAS COMUNAS DE CHILE. ADICIONALMENTE, LAS ESTIMACIONES MUESTRAN QUE ESTE EFECTO NEGATIVO NO ES INMEDIATO, SINO QUE TARDARÍA ENTRE 3 A 5 AÑOS EN REDUCIR LA DESIGUALDAD COMUNAL. FINALMENTE, LA EVIDENCIA SUGIERE QUE LA POBLACIÓN INDÍGENA CHILENA ESTARÍA EXPUESTA A UNA MAYOR DESIGUALDAD, CUANDO ESTA ES MEDIDA A TRAVÉS DEL ÍNDICE DE THEIL.

THIS ARTICLE INVESTIGATES THE EFFECT OF GOVERNMENT PERFORMANCE ASSESSMENT AFTER THE 2010 EARTHQUAKES IN CHILE AND HAITI ON INSTITUTIONAL TRUST. AVAILABLE DATA FROM THE 2010/2012 AMERICASBAROMETER SURVEY ARE USED TO ESTIMATE THE IMMEDIATE EFFECTS AND THOSE LINKED TO THE REBUILDING PROCESS. RESULTS SHOW THAT PERFORMANCE ASSESSMENT OF CHILEAN INSTITUTIONS? ABILITY TO MANAGE THE EARTHQUAKE POSITIVELY AFFECTED INSTITUTIONAL TRUST, WHEREAS THE ABOVE RELATIONSHIP ONLY HOLDS FOR HAITIAN MUNICIPALITIES AND THE NATIONAL POLICE. THE EVIDENCE REVEALS THE RELEVANCE OF STRENGTHENING THE CRISIS-HANDLING SKILLS DISPLAYED BY LOCAL AND NATIONAL GOVERNMENTS TO AVOID EROSION IN INSTITUTIONAL SOCIAL CAPITAL, A KEY ASPECT FOR DEVELOPMENT.

THIS PAPER EXAMINES RELATIONSHIPS BETWEEN CROP INSURANCE AND INPUT TECHNOLOGY DECISIONS AMONG CHILEAN WHEAT FARMERS. USING NATIONWIDE FARM-LEVEL DATA, A BIVARIATE PROBIT MODEL IS ESTIMATED. WE INVESTIGATE THE EXTENT TO WHICH THE ADOPTION OF PRODUCTION INPUT TECHNOLOGIES IS ASSOCIATED WITH FARMERS? PARTICIPATION IN THE INSURANCE PROGRAM. WE FIND THAT RELATIONSHIPS BETWEEN INSURANCE AND TECHNOLOGY DECISIONS ARE SIGNIFICANT ONLY FOR FAMILY FARMERS. IN PARTICULAR, THERE IS A NEGATIVE RELATIONSHIP BETWEEN PARTICIPATION IN THE INSURANCE PROGRAM AND THE ADOPTION OF MODERN IRRIGATION. INTERPRETATIONS BASED ON THE ROLE OF INPUT TECHNOLOGIES ON INSURANCE ADOPTION AND ADVERSE SELECTION BEHAVIOURS ARE DISCUSSED.

WE ARGUE THAT A DEFICIENT PROVISION OF PUBLIC GOODS MAY INFLUENCE CITIZEN SATISFACTION WITH THE STATUS QUO, THEREBY ENCOURAGING DEMANDS FOR INSTITUTIONAL CHANGES. WE FORMALIZE AND TEST THIS RELATIONSHIP USING PRIOR DATA RELATED TO THE RECENT CONSTITUTIONAL PROCESS CARRIED OUT IN CHILE TO REPLACE ITS DICTATORSHIP-ERA CONSTITUTION. INDIVIDUAL-LEVEL DATA FROM THE CHILE 2016/17 AMERICASBAROMETER SURVEY ARE USED TO ESTIMATE ORDERED AND MULTINOMIAL PROBIT MODELS TO STUDY THE DETERMINANTS OF CITIZEN PREFERENCES FOR CONSTITUTIONAL CHANGE, DISTINGUISHING BETWEEN AMENDMENT AND REPLACEMENT. THE MAIN FINDINGS REVEAL THAT PREFERENCES FOR REFORMING THE CHILEAN CONSTITUTION CAN BE DRIVEN BY GREATER DISCONTENT WITH PUBLIC GOODS PROVISION. THESE RESULTS REMAIN ROBUST WHEN ESTIMATING PSEUDO-PANEL MODELS USING COHORT-LEVEL DATA AND EXAMINING COEFFICIENT STABILITY. MOREOVER, HIGHER LEVELS OF CORRUPTION ARE ASSOCIATED WITH A STRONGER DEMAND FOR CONSTITUTIONAL REPLACEMENT, SUGGESTING A POTENTIAL RUPTURE IN THE SHARED SOCIAL CONTRACT DUE TO POOR GOVERNANCE AND LOWER POLITICAL EQUALITY.

AN I-VOTING SYSTEM MAY PROMOTE ELECTORAL PARTICIPATION BY REDUCING TRAVEL COST AND TIME TO POLLING PLACES, ESPECIALLY AMONG YOUTH WHO ARE MORE ACCUSTOMED TO TECHNOLOGICAL CHANGES. WE STUDY THE LINKAGE BETWEEN TRAVEL COSTS ON ELECTION DAY AND VOTER TURNOUT BY COMPARING PAST ELECTORAL PARTICIPATION WITH STATED VOTING BEHAVIOR IN A HYPOTHETICAL I-VOTING SYSTEM. WE BELIEVE THAT THE LINK BETWEEN TRANSPORTATION COSTS, I-VOTING, AND VOTER-TURNOUT EMERGES AS AN INTERESTING OPPORTUNITY TO DISENTANGLE THE MECHANISM BEHIND THE EXPECTED INCREASE IN POLITICAL PARTICIPATION AFTER DIVERSIFYING VOTING CHANNELS. DATA WERE COLLECTED USING AN ONLINE QUESTIONNAIRE THAT WAS DISSEMINATED AMONG CHILEAN UNIVERSITY STUDENTS. BINARY AND BIVARIATE PROBIT ESTIMATES SHOW THAT CONVENTIONAL TURNOUT PROBABILITY AMONG UNIVERSITY STUDENTS IS NEGATIVELY AFFECTED BY TRAVEL COSTS ON ELECTION DAY. INTERESTINGLY, WHEREAS POLITICAL INTEREST AND DEMOCRACY VALUATION STILL AUGMENT THE PROBABILITY OF VOTER TURNOUT WITH I-VOTING, TRAVEL-TO-POLLING-STATION COSTS ARE NOT STATISTICALLY RELEVANT.