Some Case Studies of Joint Ventures with Mexican Ejidos (1998)

Mexican law’s definition of conflicts of interest and current proposals to change it hold on to a narrow and impractical definition of conflicts of interest, which does not allow for any kind of prevention or mitigation. In order to prevent scandals, new legislation on the matter would require a reconceptualization of how public servants manage their assets, how public decisions are made, and the verification of the information in declarations of assets and interests.

1997

2007

Mexico and the United States have had throughout their history very different experiences in their international relations and thus different approaches towards foreign investment. Both Mexican and American corporations looking to invest in each others countries have to face several restrictions in their attempt to conduct business. These restrictions are constantly changing as the needs and circumstances in each country change. The United States throughout most of its history has had for the most part, a very open policy towards foreign

Ind. Int'l & Comp. …

An Introduction To Direct Foreign Investment In Mexico A CONTEMPORARY AND HISTORICAL LEGAL ANALYSIS OF MEXICAN DIRECT FOREIGN INVESTMENT LAWS AND POLICIES AND THEIR RELATION то the North American Free Trade Agreement Michael W. Goldman ...

Penn State international law review, 2005

As a single volume treatise, Mexican Law is an enormous undertaking of comprehensive scope. At times in this essay, our comments may appear critical, but that is not because we see this bookor the Mexican legal system-as inadequate in any way, but rather because we recognize that the study of another country's law presents an opportunity for us to compare the two systems and to reconsider the "U.S. way" of doing things. When one asks "Why Mexican Law?" one also is forced to question "Why U.S. Law?" For the U.S. lawyer, law professor, or law student studying Mexican law and reading Mexican Law, there are exciting opportunities to consider how it is that two countries, so similar in colonial heritage, with all the problems that colonial heritage implies, and so close in proximity and age, have developed such different approaches to law. Despite growing interaction and close commercial ties between Mexico and the United States, there is still a relatively small number of U.S. legal academics and law students who have even a rudimentary understanding of Mexico's legal system. United States law schools often choose a European focus for international or comparative studies. 9 This, 9. U.S. law schools increasingly offer courses with international perspectives, although the trend is still in its infancy.

This paper analyses abnormal returns, wealth effects and transfers generated in Mexican Joint Ventures and Merges with US partners. Following NAFTA (the North American Free Trade Agreement) Mexican and US firms have increased their deals both in numbers as well as in size of the deal. We conduct an Event Study to measure the stock price response associated with the announcement of a Merger or a Joint Venture. In addition we analyze the aggregate wealth effects and transfer between the pairs of firms involved. Finally we make a cross-sectional analysis in order to examine the existence of investment opportunities, differences in abnormal returns due to the type of deal, size of the firms or country of origin. We find that the Mexican firms involved in Joint Ventures have larger abnormal returns even more than previous studies. In addition Mexican firm acquirers have positive and significant abnormal returns. Moreover divestitures of US companies generate a notable dollar wealth transfer to the Mexican acquirers. Another important result is that in the Mexican case the data shows a diagonal response to news generated, and much stronger for the event study period. This may be a signal of less efficient markets. We detect an average of $130 million dollars of wealth created in each pair of our sample. The more remarkable happened when a US mega firm is involved. We attribute the abnormal returns with reference to NAFTA. The Mexican investors have a favorable perception of the possible outcomes, i.e., investors' perception that operating synergies and strategic realignment of firms will generate positive net present value. On the other hand US investors seem quite skeptical of Mexican prospects. Their attitude may be qualified as one of "caution." I.

1997

OECD Economics Department Working Papers, 2013

All Economics Department Working Papers are available through the OECD's Internet website at www.oecd.org/eco/Workingpapers JT03337964 Complete document available on OLIS in its original format This document and any map included herein are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area.

2005

is a partner in the firm of Loperena, Lerch y Martin del Campo, Campeche 315 Piso 3, Mexico, D.F. 06170. Lic. Loperena's practice includes corporate law, civil litigation and arbitration in domestic and international cases. He has acted as party-appointed arbitrator and was also appointed by the Court of Arbitration of the ICC. He has taught Civil Procedure for the last twenty-five years at Escuela Libre de Derecho in Mexico City where he also teaches International Commercial Arbitration in the graduate program. He has taught Commercial Arbitration at Universidad Panamericana in Mexico City in the graduate program. His legal training and education include the following: Law degree from Escuela Libre de Derecho; Academy of American and international Law, The Southwestern Legal Foundation, Dallas, Texas, 1982. He is a member of the 2002 NAFTA Committee on Private Commercial Disputes. He is a member of the Board of Directors of the United States-Mexico Law Institute, Inc. He is Vice President of the Mexican Bar Association. I. Each of the states of Mexico has a Civil Code. There is also a Federal Civil Code. 2. Federal Civil Code, art. 1910 (Mex.). 3. Id. art. 1915. 4. Id. art. 1910. 5. Id. art. 1913.

Houston Journal of International Law, 2003

Rosas received his law degree from the Universidad de Guadalajara in Mexico where he previously obtained the degree of Electrical Mechanic Engineer. Prof. Rosas's postgraduate studies include Harvard Graduate School of Business, University of Massachusetts at Amherst, and Oxford Centre for Management Studies. He also studied graduate courses on comparative law of Mexico and the United States as well as canon law. He is a doctorando of law at the Universidad Europea de Madrid. He has also been a professor of law at the Universidad de Guadalajara, from which he graduated at the top of his class. He worked at various law firms in Guadalajara and later established a solo practice. Prof. Rosas has spoken at several conferences in Mexico, Spain, and the United States and is the author of numerous essays on the laws of those countries. He was recently elected director of the Commission on Legal affairs for the Advisory Council of the Institute of Mexican Living Abroad where his main role is advising the President of Mexico in the design and formulation of the policies concerning the Mexican communities in the United States. The author would like to thank Luis Manuel Ramírez Perches, a distinguished Mexican attorney, for his valuable contribution on Mexican legislation to this document. The author would also like to thank San Antonio attorney Héctor Cavazos for his valuable research. Thanks to Ignacio Gonzales for his assistance.