65

This research focuses on the involvement of institutional shareholders on the control and management of corporate officers in a developing economy. The descriptive and explanatory approach used allows us to understand and explain the behavior of institutions that share the residual risk of individual shareholders, the reasons their involvement and the relationship between the proportion of capital they hold and their control. As a matter of fact, the greater the power of institutional shareholders is in terms of capital control, the more their rational calculation may be to drive corporate governance with strong shareholder connotations.