El Consejero Dominical y el Gobierno Corporativo / Institutional Directors and Corporate Governance
- Chiva Ortells, Carlos
DOIAbstract
The aim of this research is to study the role of institutional directors in corporate governance. For this purpose, we have analysed the impact that these directors have on CEO compensation and on corporate social responsibility disclosure. Moreover, institutional directors have been classified into two groups: pressure-resistant institutional directors and pressure-sensitive institutional directors. The results show that institutional directors, as a whole, and pressure-resistant institutional directors influence on corporate governance of companies. In addition, the results evidence that their level of participation on the board of directors is important since they may exercise two opposite roles (control and entrenchment), depending on t...
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