BUSINESS UC3M

@UC3M_BUSINESS

Kurt Desender

Associate Professor of Management

Education

Kurt holds a doctorate in Business Economics from the Autonomous University of Barcelona. He has a master’s degree in Economics, Management and Business Organization from the Autonomous University of Barcelona and a degree in Business Administration and Management from the Catholic University of Leuven.

Research Interests

His research interests focus on corporate governance, business management, CSR, and financial accounting.

Selected Publications

Aguilera, R. V., Desender, K., LopezPuertas-Lamy, M. “From Universal Owners to Owners of the Universe? How the Big Three Are Reshaping Corporate Governance “, Corporate Governance: An International Review (forthcoming)

Desender, K., & Epure, M. (2021). “The pressure behind corporate social performance: Ownership and institutional configurations”. Global Strategy Journal, 11(2), 210–244.

Desender, K., López-Puertas-Lamy, M., Pattitoni, P., Petracci, B.: “Corporate Social Responsibility and Cost of Financing – the Importance of the International Corporate Governance System”, Corporate Governance: An International Review 28, 207-234

Aguilera, R. V., Desender, K., LopezPuertas-Lamy, M., Lee, J.H.: “The governance impact of a changing investor landscape”, Journal of International Business Studies vol. 48 (2), 2017, 195–221.

Desender, K., Aguilera, R. V., LopezPuertas-Lamy, M, Crespi-Cladera, R.: “A Clash of Governance Logics: Foreign Ownership and Board Monitoring”, Strategic Management Journal vol. 37 (2), 2016, 349–369.

Desender, K., Aguilera, R. V., Crespi-Cladera, R., Garcia Cestona, M.A.: “When Does Ownership Matter? Board Characteristics and Behavior “, Strategic Management Journal vol. 34 (7), 2013, 823–842.

Aguilera, R. V., Desender, K., LopezPuertas-Lamy, M. "From Universal Owners to Owners of the Universe? How the Big Three Are Reshaping Corporate Governance ", Corporate Governance: An International Review (forthcoming)

Desender, K., & Epure, M. (2021). “The pressure behind corporate social performance: Ownership and institutional configurations”. Global Strategy Journal, 11(2), 210–244.

Surroca, J., Aguilera. R., Desender, K. & Tribó, J.A.: " Is managerial entrenchment always bad and corporate social responsibility always good? A cross‐national examination of their combined influence on shareholder value ”, Strategic Management Journal 41, 891-920

Desender, K., López-Puertas-Lamy, M., Pattitoni, P., Petracci, B.: “Corporate Social Responsibility and Cost of Financing – the Importance of the International Corporate Governance System”, Corporate Governance: An International Review 28, 207-234

López-Puertas-Lamy, M., Desender, K., Epure, M.: “Corporate Social Responsibility and the Assessment by Auditors of the Risk of Material Misstatement”, Journal of Business Finance & Accounting vol. 44 (9-10), 2017, 1276–1314.

Aguilera, R. V., Desender, K., LopezPuertas-Lamy, M., Lee, J.H.: “The governance impact of a changing investor landscape”, Journal of International Business Studies vol. 48 (2), 2017, 195–221.

Desender, K., Aguilera, R. V., LopezPuertas-Lamy, M, Crespi-Cladera, R.: “A Clash of Governance Logics: Foreign Ownership and Board Monitoring”, Strategic Management Journal vol. 37 (2), 2016, 349–369.

Aguilera, R., Desender, K., Bednar, M., Lee, J.: “Connecting the Dots: Bringing External Corporate Governance into the Corporate Governance Puzzle”, Academy of Management Annals vol. 9 (1), 2015, 483-573.

Aguilera R. V, Desender, K.: “Gobierno Corporativo: Mapa Actual y Nuevas Tendencias”, Informe Situación Social de España 2015, Capítulo 8 (2015).

Desender, K., Aguilera, R. V., Crespi-Cladera, R., Garcia Cestona, M.A.: “When Does Ownership Matter? Board Characteristics and Behavior”, Strategic Management Journal vol. 34 (7), 2013, 823–842.

Aguilera R. V, Desender, K.: “Methodological challenges in comparative corporate governance and strategic issues” in Wang CL, Ketchen D, Bergh D. (ed.) Research Methodology in Strategy and
Management, Emerald Group Publishing Limited (2012).

Desender, K., Castro, E., Escamilla de León, S.: “Earnings Management and Culture”, The American Journal of Economics and Sociology vol. 70 (3), 2011, 639-670.

Aguilera R. V, Desender K, Kabbach de Castro L.: “A Configurational Perspective on Comparative Corporate Governanc” in SAGE Handbook of Corporate Governance, Sage Publications (2011).

Desender K.: “The influence of the board composition on enterprise risk management” in Handbook of Research on Enterprise IT Governance, Business Value and Performance Measurement, IGI Global (2010).

Peña, J.I , Mayoral, S. and Rodríguez, R. “Hedging renewable power purchase agreements”,Energy Strategy Reviews, 55, 2024

Peña, J.I , Mayoral, S. and Rodríguez, R. “Cannibalization, depredation, and market remuneration of power plants”, Energy Policy, 2022

Peña, J.I and Rodríguez, R. " Market Makers and Liquidity Premium in Electricity Futures Markets (2022). The energy Journal, 43 (2)

Peña, J.I & Mayoral, S. and Rodríguez, R. “Tail Risk of Electricity Futures” , Energy Economics, 2020

Peña, J.I and Rodríguez, R. "Are EU’s Climate and Energy Package 20-20-20 targets achievable and compatible? Evidence from the impact of renewables on electricity prices " Energy, 183, pages 477-486 , 2019,

Rodríguez, R. and Peña, J.I.: “Default supply auctions in electricity markets: Challenges and proposals”, Energy Policy vol. 122, Noviembre 2018, 142-151

Rodríguez, R., Moreno J.D. & Zambrana, R.: “Management Sub-Advising in the Mutual Fund Industry”, Journal of Financial Economics, vol. 127 (3), Marzo 2018, 567-587

Peña, J.I and Blanco Ivan and Rodríguez, R. “Modelling Electricity Swaps with Stochastic Forward Premium Models” ( 2018), The Energy Journal, vol. 39 (2)

Rodríguez, R. & Peña, I.: "Time-Zero Efficiency of European Power Derivatives Markets”, Energy Policy vol. 95, August 2016, 253-268

Rodríguez, R. & Rubio, G.: “Teaching Quality and Academic Research”, International Review of Economics Education vol. 23, Septiembre 2016, 10-27

Rodríguez, R, Moreno, J.D. & Malagón, J.: “The Idiosyncratic Volatility Anomaly: Corporate Investment or Investor Mispricing?”, Journal of Banking and Finance vol. 60, Noviembre 2015, 224-238

Rodríguez, R. & Nieto, B.: “Corporate stock and bond return correlations and dynamic adjustments of capital structure”, Journal of Business Finance and Accounting vol. 42 (5-6), Junio-Julio 2015, 705–746

Rodríguez, R., Moreno, J.D. & Matallín-Sáez, J.C.: “Why is timing perverse?”, The European Journal of Finance, vol. 21, 2015, 1334-1356

Rodríguez, R., Moreno, J.D. & Malagón, J.: “Time horizon trading and the idiosyncratic risk puzzle”, Quantitative Finance, vol. 15 (2), 2015, 327-343

Rodríguez, R., Moreno, J.D. & Cáceres, E.: “A study on short-selling constraints: total ban versus partial ban”, Applied Economics Letters vol. 22 (2), 2015, 99-103

Rodríguez, R., Moreno, J.D. & Wang, C.:“Accurately Measuring Gold Mutual Fund Performance”, Applied Economics Letters, vol. 21 (4), 2014, 268-271

Rodríguez, R.& Moreno, J.D.: “Optimal Diversification across Mutual Funds”, Applied Financial Economics vol. 23 (2), 2013, 199-203

Rodríguez, R. & Moreno, J.D.: “The value of coskewness in mutual fund performance evaluation”, Journal of Banking & Finance vol. 33, 2009, 1664–1676

Rodríguez, R. & Peña, I.: "On the economic link between asset prices and real activity”, Journal of Business Finance and Accounting vol. 34 (5-6), Junio-Julio 2007, 889-916

Rodríguez, R. & Nieto, B.: “The consumption-wealth and Book-to Market ratios
in a Dynamic asset-pricing context”, Spanish
Economic Review vol. 9, 2006

Rodríguez, R. & Moreno, J.D.: “Performance Evaluation considering the Coskewness: A Stochastic Discount Factor Framework”, Managerial Finance vol. 32 (4), 2006, 375-392

Rodríguez, R. & Restoy, F.: "Can Fundamentals
Explain Cross-Country Correlations of Asset Returns? ”, Review of World Economics, vol. 142 (3), 2006

Rodríguez, R. & Nieto, B.: “Los
Modelos de Valoración de Activos Condicionales: un Panorama Comparativo
Ilustrado con Datos Españoles” (2005) Investigaciones Económicas, vol. 29 (1), 2004

Rodríguez, R., Restoy, F. & Oeña, I.: “Can Output Explain the
Predictability and Volatility of Stock Returns?”, Journal of International Money and Finance vol. 21 (2), Abril 2002, 163-182

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