López Iturriaga, Felix J.; García-Meca, Emma; … - In: BRQ Business Research Quarterly 18 (2015) 3, pp. 161-173
We address the influence of directors who represent institutional investors in three aspects of board compensation … policies: level of compensation, composition, and performance sensitivity. We differentiate pressure-sensitive directors (i …-resistant directors decrease total board compensation and its fixed proportion, whereas they increase the variable proportion of total …