Although the role of institutional investors as shareholders has been widely studied, the literature provides little evidence on the role of institutional investors as directors. Therefore, this article analyzes the influence of directors who represent institutional investors in three aspects of...

In this paper we examine whether the presence of institutional investors representatives on boards leads to observable differences in corporate finance. We use a panel of 162 quoted Spanish nonfinancial firms from 2004 to 2010. We find that institutional directors have diverse incentives to...

We analyse the influence of the board of directors and ownership structure on the valuation of IPOs in the Spanish capital market during the period 1998-2013. After controlling for other influences such as the auditor's reputation, the underwriter's reputation and the level of information...

En el presente trabajo estudiamos la influencia sobre la performance de las empresas cotizadas españolas entre 2007 y 2009 del número de consejos de administración a que pertenecen sus consejeros independientes. Nuestros resultados ponen de manifiesto una relación no lineal como consecuencia...