Using a sample of 595 firms listed in the capital markets of Argentina, Brazil, Chile, Colombia, Mexico, and Peru for the period of 2000–2015, we confirm prior literature by showing that when power distribution among several large shareholders (contestability) increases, firms’ financial performance is enhanced. More interestingly, we find that these relations are even more significant in family-owned firms, emphasising the relevance of contesting control in this kind of firm. Furthermore, contestability has a greater influence in family firms that have the most concentrated ownership. We also find that the legal framework attenuates the impact of the balance of ownership. Here, contesting control acts as an internal corporate governance mechanism that provides an alternative to the external legal setting. Taken together, our results mean that in institutional settings characterised by weak investor protection and possible conflicts of interest among shareholders, oversight by multiple large, non-related shareholders (balanced ownership concentration) becomes an important governance mechanism.

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Using data on 52 countries' banking systems from 2005 to 2014, we explore how the legal and institutional environment influences banking system performance. Using panel data and controlling for financial and economic development indicators, we find evidence of several relationships related to banking system performance. First, a higher degree of legal protection for both lenders and borrowers positively affects banking system performance. Second, there is a positive relationship between the degree of law enforcement and banking system performance. Third, better regulatory quality positively affects banking system performance. Fourth, neither the degree of information sharing nor the control of corruption has a significant effect on banking sector performance. Finally, we find no significant differences in banking sector performance by type of economy.

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Purpose The purpose of this paper is to analyze the impact of a classroom application of the cooperative learning (CL) methodology on nine dimensions of business students’ teamwork competence (TC). Design/methodology/approach The authors used a quasi-experimental pre-post design with a previous cohort as control group (first-year students from the year prior to treatment application), applying treatment to a sample of 228 first-year students in a School of Economics and Business at a Chilean University (114 as treatment and 114 as control). Findings The authors’ results show that CL had a positive, significant influence on five dimensions of TC: collective efficacy, planning, goal setting, problem solving and conflict management. Research limitations/implications This paper upholds the importance and effectiveness of CL in developing TC. However, the evidence suggests that the effectiveness of the CL methodology was limited to development and improvement of less complex dimensions of TC. More complex dimensions require a longer period of time to be developed. Practical implications This research is an important contribution to the design and implementation of appropriate methodologies for developing a widely needed area of competence in the workplace, considering its multidimensional nature, whether in academia or business. Originality/value This is the first study to seek empirical evidence that would link the CL methodology with TC. In addition, it fills a gap in the literature on the development of TC in its multiple dimensions. It particularly addresses the training of business professionals.