This paper enquires whether institutional investors have specific preferences on the composition of the board of directors in Latin American firms they hold shares in. The result show that preferences vary significantly in terms of the type of institutional investor. The econometric results...

We study the separation of ownership and control for an average of 140 listed non-financial Corporations in Colombia during the 1996-2002 period. Breaking the sample according to their listing status and economic activity, voting rights are greater than cash flow rights because of the presence...