Abstract
This is a PowerPoint presentation that debates the role of institutional investors as relevant shareholders on corporate governance in Brazil. The data provides correlational evidence that the presence of some institutional investors such as largest pension funds and the (Brazilian Development Bank) BNDES as relevant shareholders are in fact associated with worst corporate governance practices, whereas the presence of independent mutual funds as relevant shareholders is associated with better overall governance practices.Therefore, the role of institutional investors on corporate governance is not uniform in Brazil, depending on the characteristics and incentives of each class of institutional investor.
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