Análisis De La Colusión Comercial Considerando El Efecto en Los Resultados Operacionales Y El Riesgo Reputacional De Las Empresas en Chile

Abstract

The reputational risk and the operational development are two concepts of great relevance in an entity. The purpose of this investigation is to make an analysis of the effects in the operational results and in the reputational risk suffered by one of the national companies which made a collusive agreements so as to acquire a favored place in the market. This study will specifically focus on the company CMPC S.A. Moreover, as a documental cutoff date, the month of September 2016, was determined. The used methodology consists of a holistic case study, of instrumental nature under a qualitative approach, with a documental cutoff period until September 2016. On the one hand, from this investigation it can be concluded that the case of collusion did not have any repercussion for the company´s operational development. And, on the other hand, its reputational risk was adversely affected after the public knowledge of collusive agreements due to the low price of shares transacted by the company.

Reputational risk and stock price: a corporate management analysis

“…In the case of Cartavio company, in 2017, the prices fell to 10.0, in 2018 to 8.5 and in 2019 to 7.70. These results coincided with that indicated by Maldonado et al (2017) who showed that reputational risk is reflected with a downward trend in the price of shares; this occurs after the event becomes public knowledge.…”

“…After these statements, the contracts of Graña and Montero with the Peruvian state were revoked; consequently, it had a significant negative impact on sales, profits and share price (Durand, 2018). About the cases described above, Maldonado et al (2017) show the results that originate from reputational risk, applying in their study the measurement through the analysis of the variations in the price of the share listed on the Santiago Stock Exchange. In their article, the authors concluded that an event of collusion generates reputational risk and affects it from the moment it has been made public until the date that its study ends, being 01 years after the event.…”

“…About the cases described above, Maldonado et al. (2017) show the results that originate from reputational risk, applying in their study the measurement through the analysis of the variations in the price of the share listed on the Santiago Stock Exchange.…”