Iván Darío Hernández Umaña

ISBN 958-701-218-6

2002

This thesis studies the evolution of the institutional environment and its appropriateness for the innovative and productive activities and processes within Colombia’s manufacturing industry. Evidence shows the rise of the Limited Liability Companies (LLCs) in this industry and the establishment of a private setting became an institution among firms when big and powerful conglomerates-in order to create bigger and more powerful public companies- absorbed the firms that adopted a public setting. However, this institutional innovation is sub-optimal basically because setting a private limited liability framework leaves the intrapreneurial forces excluded from the access the ownership.

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