El Consejero Dominical y el Gobierno Corporativo
- Chiva Ortells, Carlos
- María Consuelo Pucheta Martínez Director
Defence university: Universitat Jaume I
Fecha de defensa: 12 July 2017
- Antonio Vico Martínez Chair
- Miguel Arce Gisbert Secretary
- Mercedes Redondo Cristóbal Committee member
Type: Thesis
Abstract
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 the percentage of representation on the board. Regarding pressure-sensitive institutional directors, they do not influence on corporate governance of companies.