{"id":5471,"date":"2025-03-28T08:28:05","date_gmt":"2025-03-28T07:28:05","guid":{"rendered":"https:\/\/indem.uc3m.es\/members\/kurt-desender\/"},"modified":"2026-01-16T19:11:10","modified_gmt":"2026-01-16T18:11:10","slug":"kurt-desender","status":"publish","type":"members","link":"https:\/\/indem.uc3m.es\/en\/members\/kurt-desender\/","title":{"rendered":"Kurt Desender"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"5471\" class=\"elementor elementor-5471 elementor-4978\" data-elementor-post-type=\"members\">\n\t\t\t\t<div data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-element elementor-element-7648340a e-flex e-con-boxed e-con e-parent\" data-id=\"7648340a\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-element elementor-element-24a62ac e-con-full e-flex e-con e-child\" data-id=\"24a62ac\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-58180e17 elementor-widget-mobile__width-inherit elementor-widget elementor-widget-image\" data-id=\"58180e17\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1140\" height=\"1140\" src=\"https:\/\/indem.uc3m.es\/wp-content\/uploads\/2025\/03\/perfil-kurt-desender.png\" class=\"attachment-full size-full wp-image-4980\" alt=\"\" srcset=\"https:\/\/indem.uc3m.es\/wp-content\/uploads\/2025\/03\/perfil-kurt-desender.png 1140w, https:\/\/indem.uc3m.es\/wp-content\/uploads\/2025\/03\/perfil-kurt-desender-300x300.png 300w, https:\/\/indem.uc3m.es\/wp-content\/uploads\/2025\/03\/perfil-kurt-desender-1024x1024.png 1024w, https:\/\/indem.uc3m.es\/wp-content\/uploads\/2025\/03\/perfil-kurt-desender-150x150.png 150w, https:\/\/indem.uc3m.es\/wp-content\/uploads\/2025\/03\/perfil-kurt-desender-768x768.png 768w\" sizes=\"(max-width: 1140px) 100vw, 1140px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-59debd2f elementor-widget elementor-widget-spacer\" data-id=\"59debd2f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3deb2aa4 elementor-hidden-mobile elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"3deb2aa4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"mailto:kdesende@emp.uc3m.es\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-envelope\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M464 64H48C21.49 64 0 85.49 0 112v288c0 26.51 21.49 48 48 48h416c26.51 0 48-21.49 48-48V112c0-26.51-21.49-48-48-48zm0 48v40.805c-22.422 18.259-58.168 46.651-134.587 106.49-16.841 13.247-50.201 45.072-73.413 44.701-23.208.375-56.579-31.459-73.413-44.701C106.18 199.465 70.425 171.067 48 152.805V112h416zM48 400V214.398c22.914 18.251 55.409 43.862 104.938 82.646 21.857 17.205 60.134 55.186 103.062 54.955 42.717.231 80.509-37.199 103.053-54.947 49.528-38.783 82.032-64.401 104.947-82.653V400H48z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Email: kdesende@emp.uc3m.es<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-map-marker-alt\" viewBox=\"0 0 384 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M172.268 501.67C26.97 291.031 0 269.413 0 192 0 85.961 85.961 0 192 0s192 85.961 192 192c0 77.413-26.97 99.031-172.268 309.67-9.535 13.774-29.93 13.773-39.464 0zM192 272c44.183 0 80-35.817 80-80s-35.817-80-80-80-80 35.817-80 80 35.817 80 80 80z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Address \/ Office: C\/ Madrid, 126 - 28903 Getafe (Madrid) Spain \/ 6.0.17<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span 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xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M488 261.8C488 403.3 391.1 504 248 504 110.8 504 0 393.2 0 256S110.8 8 248 8c66.8 0 123 24.5 166.3 64.9l-67.5 64.9C258.5 52.6 94.3 116.6 94.3 256c0 86.5 69.1 156.6 153.7 156.6 98.2 0 135-70.4 140.8-106.9H248v-85.3h236.1c2.3 12.7 3.9 24.9 3.9 41.4z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Google Scholar<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/indem.uc3m.es\/wp-content\/uploads\/2025\/03\/cv_1455648503.pdf\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-file-archive\" viewBox=\"0 0 384 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M128.3 160v32h32v-32zm64-96h-32v32h32zm-64 32v32h32V96zm64 32h-32v32h32zm177.6-30.1L286 14C277 5 264.8-.1 252.1-.1H48C21.5 0 0 21.5 0 48v416c0 26.5 21.5 48 48 48h288c26.5 0 48-21.5 48-48V131.9c0-12.7-5.1-25-14.1-34zM256 51.9l76.1 76.1H256zM336 464H48V48h79.7v16h32V48H208v104c0 13.3 10.7 24 24 24h104zM194.2 265.7c-1.1-5.6-6-9.7-11.8-9.7h-22.1v-32h-32v32l-19.7 97.1C102 385.6 126.8 416 160 416c33.1 0 57.9-30.2 51.5-62.6zm-33.9 124.4c-17.9 0-32.4-12.1-32.4-27s14.5-27 32.4-27 32.4 12.1 32.4 27-14.5 27-32.4 27zm32-198.1h-32v32h32z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">CV<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cffeff2 elementor-hidden-mobile elementor-widget elementor-widget-spacer\" data-id=\"cffeff2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div 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421.8z\"><\/path><\/svg>\t\t\t\t<\/a>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t<div class=\"elementor-icon-box-content\">\n\n\t\t\t\t\t\t\t\t\t<h3 class=\"elementor-icon-box-title\">\n\t\t\t\t\t\t<a href=\"https:\/\/x.com\/uc3m_business?lang=es\" >\n\t\t\t\t\t\t\tBUSINESS UC3M\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<p class=\"elementor-icon-box-description\">\n\t\t\t\t\t\t@UC3M_BUSINESS\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-element elementor-element-4ad474ae e-con-full e-flex e-con e-child\" data-id=\"4ad474ae\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3696dbaf elementor-widget elementor-widget-heading\" data-id=\"3696dbaf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Kurt Desender<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5cee9eff elementor-widget elementor-widget-heading\" data-id=\"5cee9eff\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Associate Professor of Management<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3eba5d46 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"3eba5d46\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Education<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2437acc elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"2437acc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-40afa45f elementor-widget elementor-widget-text-editor\" data-id=\"40afa45f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Kurt holds a doctorate in Business Economics from the Autonomous University of Barcelona. He has a master&#8217;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. <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e864208 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"e864208\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Research Interests<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1b0f635 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"1b0f635\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bc81ac8 elementor-widget elementor-widget-text-editor\" data-id=\"bc81ac8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>His research interests focus on corporate governance, business management, CSR, and financial accounting.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-18691a12 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"18691a12\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Selected Publications<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5ea4811f elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"5ea4811f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2af8ba5d elementor-widget elementor-widget-text-editor\" data-id=\"2af8ba5d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Aguilera, R. V., Desender, K., LopezPuertas-Lamy, M. &#8220;<a href=\"https:\/\/doi.org\/10.1111\/corg.12611\">From Universal Owners to Owners of the Universe? How the Big Three Are Reshaping Corporate Governance <\/a>&#8220;, Corporate Governance: An International Review (forthcoming)<\/p><div>Desender, K., &amp; Epure, M. (2021). \u201c<a href=\"https:\/\/doi.org\/10.1002\/gsj.1390\">The pressure behind corporate social performance: Ownership and institutional configurations<\/a>\u201d. Global Strategy Journal, 11(2), 210\u2013244.   <\/div><div> <\/div><div>Surroca, J., Aguilera. R., Desender, K. &amp; Trib\u00f3, J.A.: &#8221; <a href=\"https:\/\/onlinelibrary.wiley.com\/doi\/abs\/10.1002\/smj.3132\">Is managerial entrenchment always bad and corporate social responsibility always good? A cross\u2010national examination of their combined influence on shareholder value <\/a>\u201d, Strategic Management Journal <a title=\"\" href=\"https:\/\/onlinelibrary.wiley.com\/toc\/10970266\/2020\/41\/5\" data-original-title=\"View Volume 41, Issue 5\"><span class=\"val\">41<\/span>,<\/a> 891-920<\/div><p>Desender, K., L\u00f3pez-Puertas-Lamy, M., Pattitoni, P., Petracci, B.: \u201c<a href=\"https:\/\/doi.org\/10.1111\/corg.12312\">Corporate Social Responsibility and Cost of Financing \u2013 the Importance of the International Corporate Governance System<\/a>\u201d, Corporate Governance: An International Review 28, 207-234<\/p><p>Aguilera, R. V., Desender, K., LopezPuertas-Lamy, M., Lee, J.H.: \u201c<a href=\"https:\/\/www.researchgate.net\/publication\/311356520_The_governance_impact_of_a_changing_investor_landscape\">The governance impact of a changing investor landscape<\/a>\u201d, Journal of International Business Studies vol. 48 (2), 2017, 195\u2013221.<\/p><p>Desender, K., Aguilera, R. V., LopezPuertas-Lamy, M, Crespi-Cladera, R.: \u201c<a href=\"https:\/\/www.researchgate.net\/publication\/267627937_A_Clash_Of_Governance_Logics_Foreign_Ownership_And_Board_Monitoring\">A Clash of Governance Logics: Foreign Ownership and Board Monitoring<\/a>\u201d, Strategic Management Journal vol. 37 (2), 2016, 349\u2013369.<\/p><p>Desender, K., Aguilera, R. V., Crespi-Cladera, R., Garcia Cestona, M.A.: &#8220;<a href=\"https:\/\/www.researchgate.net\/publication\/228299561_When_Does_Ownership_Matter_Board_Characteristics_and_Behavior\">When Does Ownership Matter? Board Characteristics and Behavior <\/a>&#8220;, Strategic Management Journal vol. 34 (7), 2013, 823\u2013842.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6f4b7a60 uael-faq-box-layout-yes align-at-left elementor-widget elementor-widget-uael-faq\" data-id=\"6f4b7a60\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"uael-faq.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\t\t\t<div id='uael-faq-wrapper-186' class=\"uael-faq-wrapper\">\n\t\t\t\t<div class=\"uael-faq-container uael-faq-layout-accordion\" data-layout=\"accordion\" >\n\t\t\t\t\t\t\t\t\t\t\t\t<div id=\"uael-accordion-9984785\" class=\"uael-faq-accordion\" role=\"tablist\">\n\t\t\t\t\t\t\t\t<div class= \"uael-accordion-title\" aria-expanded=\"false\" role=\"tab\">\n\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon uael-accordion-icon-left\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon-closed\"><svg class=\"e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon-opened\"><svg class=\"e-font-icon-svg e-fas-angle-up\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M177 159.7l136 136c9.4 9.4 9.4 24.6 0 33.9l-22.6 22.6c-9.4 9.4-24.6 9.4-33.9 0L160 255.9l-96.4 96.4c-9.4 9.4-24.6 9.4-33.9 0L7 329.7c-9.4-9.4-9.4-24.6 0-33.9l136-136c9.4-9.5 24.6-9.5 34-.1z\"><\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"uael-question-9984785 uael-question-span\" tabindex=\"0\" id=\"uael-faq-1-69e1a2ee38abd\">Biograf\u00eda<\/span>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"uael-accordion-content\" role=\"tabpanel\">\n\t\t\t\t\t\t\t\t\t<span>\n\t\t\t\t\t\t\t\t\t<span><p>Aguilera, R. V., Desender, K., LopezPuertas-Lamy, M. \"<a href=\"https:\/\/doi.org\/10.1111\/corg.12611\">From Universal Owners to Owners of the Universe? How the Big Three Are Reshaping Corporate Governance <\/a>\", Corporate Governance: An International Review (forthcoming)<\/p><div>Desender, K., &amp; Epure, M. (2021). \u201c<a href=\"https:\/\/doi.org\/10.1002\/gsj.1390\">The pressure behind corporate social performance: Ownership and institutional configurations<\/a>\u201d. Global Strategy Journal, 11(2), 210\u2013244.   <\/div><p>Surroca, J., Aguilera. R., Desender, K. &amp; Trib\u00f3, J.A.: \" <a href=\"https:\/\/onlinelibrary.wiley.com\/doi\/abs\/10.1002\/smj.3132\">Is managerial entrenchment always bad and corporate social responsibility always good? A cross\u2010national examination of their combined influence on shareholder value <\/a>\u201d, Strategic Management Journal <a title=\"\" href=\"https:\/\/onlinelibrary.wiley.com\/toc\/10970266\/2020\/41\/5\" data-original-title=\"View Volume 41, Issue 5\"><span class=\"val\">41<\/span>,<\/a> 891-920<\/p><p>Desender, K., L\u00f3pez-Puertas-Lamy, M., Pattitoni, P., Petracci, B.: \u201c<a href=\"https:\/\/doi.org\/10.1111\/corg.12312\">Corporate Social Responsibility and Cost of Financing \u2013 the Importance of the International Corporate Governance System<\/a>\u201d, Corporate Governance: An International Review 28, 207-234<\/p><p>L\u00f3pez-Puertas-Lamy, M., Desender, K., Epure, M.: \u201cCorporate Social Responsibility and the Assessment by Auditors of the Risk of Material Misstatement\u201d, Journal of Business Finance &amp; Accounting vol. 44 (9-10), 2017, 1276\u20131314.<\/p><p>Aguilera, R. V., Desender, K., LopezPuertas-Lamy, M., Lee, J.H.: \u201cThe governance impact of a changing investor landscape\u201d, Journal of International Business Studies vol. 48 (2), 2017, 195\u2013221.<\/p><p>Desender, K., Aguilera, R. V., LopezPuertas-Lamy, M, Crespi-Cladera, R.: \u201cA Clash of Governance Logics: Foreign Ownership and Board Monitoring\u201d, Strategic Management Journal vol. 37 (2), 2016, 349\u2013369.<\/p><p>Aguilera, R., Desender, K., Bednar, M., Lee, J.: \u201cConnecting the Dots: Bringing External Corporate Governance into the Corporate Governance Puzzle\u201d, Academy of Management Annals vol. 9 (1), 2015, 483-573.<\/p><p>Aguilera R. V, Desender, K.: \u201cGobierno Corporativo: Mapa Actual y Nuevas Tendencias\u201d, Informe Situaci\u00f3n Social de Espa\u00f1a 2015, Cap\u00edtulo 8 (2015).  <\/p><p>Desender, K., Aguilera, R. V., Crespi-Cladera, R., Garcia Cestona, M.A.: \u201cWhen Does Ownership Matter? Board Characteristics and Behavior\u201d, Strategic Management Journal vol. 34 (7), 2013, 823\u2013842.<\/p><p>Aguilera R. V, Desender, K.: \u201cMethodological challenges in comparative corporate governance and strategic issues\u201d in Wang CL, Ketchen D, Bergh D. (ed.) Research Methodology in Strategy and<br>Management, Emerald Group Publishing Limited (2012).<\/p><p>Desender, K., Castro, E., Escamilla de Le\u00f3n, S.: \u201cEarnings Management and Culture\u201d, The American Journal of Economics and Sociology vol. 70 (3), 2011, 639-670.<\/p><p>Aguilera R. V, Desender K, Kabbach de Castro L.: \u201cA Configurational Perspective on Comparative Corporate Governanc\u201d in SAGE Handbook of Corporate Governance, Sage Publications (2011).  <\/p><p>Desender K.: \u201cThe influence of the board composition on enterprise risk management\u201d in Handbook of Research on Enterprise IT Governance, Business Value and Performance Measurement, IGI Global (2010).  <\/p><\/span>\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div id=\"uael-accordion-a14a01d\" class=\"uael-faq-accordion\" role=\"tablist\">\n\t\t\t\t\t\t\t\t<div class= \"uael-accordion-title\" aria-expanded=\"false\" role=\"tab\">\n\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon uael-accordion-icon-left\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon-closed\"><svg class=\"e-font-icon-svg e-fas-angle-right\" viewBox=\"0 0 256 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M224.3 273l-136 136c-9.4 9.4-24.6 9.4-33.9 0l-22.6-22.6c-9.4-9.4-9.4-24.6 0-33.9l96.4-96.4-96.4-96.4c-9.4-9.4-9.4-24.6 0-33.9L54.3 103c9.4-9.4 24.6-9.4 33.9 0l136 136c9.5 9.4 9.5 24.6.1 34z\"><\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"uael-accordion-icon-opened\"><svg class=\"e-font-icon-svg e-fas-angle-up\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M177 159.7l136 136c9.4 9.4 9.4 24.6 0 33.9l-22.6 22.6c-9.4 9.4-24.6 9.4-33.9 0L160 255.9l-96.4 96.4c-9.4 9.4-24.6 9.4-33.9 0L7 329.7c-9.4-9.4-9.4-24.6 0-33.9l136-136c9.4-9.5 24.6-9.5 34-.1z\"><\/path><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"uael-question-a14a01d uael-question-span\" tabindex=\"0\" id=\"uael-faq-2-69e1a2ee38b4a\">Publications<\/span>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"uael-accordion-content\" role=\"tabpanel\">\n\t\t\t\t\t\t\t\t\t<span>\n\t\t\t\t\t\t\t\t\t<span><p style=\"font-weight: 500;\">Pe\u00f1a, J.I , Mayoral, S. and Rodr\u00edguez, R. \u201c<a href=\"https:\/\/doi.org\/10.1016\/j.esr.2024.101513\">Hedging renewable power purchase agreements<\/a>\u201d,<b>Energy Strategy Reviews<\/b>, 55, 2024<\/p><p style=\"font-weight: 500;\">Pe\u00f1a, J.I , Mayoral, S. and Rodr\u00edguez, R. \u201c<a href=\"https:\/\/authors.elsevier.com\/a\/1fCUV14YGgloId\">Cannibalization, depredation, and market remuneration of power plants<\/a>\u201d, <b>Energy Policy<\/b>, 2022<\/p><p style=\"font-weight: 500;\">Pe\u00f1a, J.I and Rodr\u00edguez, R. \" <a href=\"https:\/\/indem.uc3m.es\/es\/members\/profesor\/perfil\/10.5547\/01956574.43.2.jpen\">Market Makers and Liquidity Premium in Electricity Futures Markets <\/a>(2022). <b>The energy Journal<\/b>, 43 (2)  <\/p><p style=\"font-weight: 500;\">Pe\u00f1a, J.I &amp; Mayoral, S. and Rodr\u00edguez, R. \u201c<a href=\"https:\/\/doi.org\/10.1016\/j.eneco.2020.104886\">Tail Risk of Electricity Futures<\/a>\u201d , <b>Energy Economics<\/b>, 2020  <\/p><p style=\"font-weight: 500;\">Pe\u00f1a, J.I and Rodr\u00edguez, R. \"<a href=\"https:\/\/doi.org\/10.1016\/j.energy.2019.06.138\">Are EU\u2019s Climate and Energy Package 20-20-20 targets achievable and compatible? Evidence from the impact of renewables on electricity prices <\/a>\" <b>Energy<\/b>, 183, pages 477-486 , 2019,  <\/p><p style=\"font-weight: 500;\">Rodr\u00edguez, R. and Pe\u00f1a, J.I.: \u201cDefault supply auctions in electricity markets: Challenges and proposals\u201d, <b><i>Energy Policy <\/i><\/b>vol. 122, Noviembre 2018, 142-151<\/p><p style=\"font-weight: 500;\">Rodr\u00edguez, R., Moreno J.D. &amp; Zambrana, R.: \u201cManagement Sub-Advising in the Mutual Fund Industry\u201d, <b><i>Journal of Financial <\/i><\/b><b><i>Economics<\/i><\/b><i>, <\/i>vol. 127 (3), Marzo 2018, 567-587<\/p><p style=\"font-weight: 500;\">Pe\u00f1a, J.I and Blanco Ivan and Rodr\u00edguez, R. \u201cModelling Electricity Swaps with Stochastic Forward Premium Models\u201d ( 2018), <b><i>The Energy Journal<\/i><\/b>, vol. 39 (2)  <\/p><p style=\"font-weight: 500;\">Rodr\u00edguez, R. &amp; Pe\u00f1a, I.: \"Time-Zero Efficiency of European Power Derivatives Markets\u201d, <b><i>Energy Policy <\/i><\/b>vol. 95, August 2016, 253-268  <\/p><p style=\"font-weight: 500;\">Rodr\u00edguez, R. &amp; Rubio, G.: \u201cTeaching Quality and Academic Research\u201d,<b><i> International Review of Economics Education<\/i><\/b> vol. 23, Septiembre 2016, 10-27  <\/p><p style=\"font-weight: 500;\">Rodr\u00edguez, R, Moreno, J.D. &amp; Malag\u00f3n, J.: \u201cThe Idiosyncratic Volatility Anomaly: Corporate Investment or Investor Mispricing?\u201d,<b><i> Journal of Banking and Finance <\/i><\/b>vol. 60, Noviembre 2015, 224-238<\/p><p style=\"font-weight: 500;\">Rodr\u00edguez, R. &amp; Nieto, B.: \u201cCorporate stock and bond return correlations and dynamic adjustments of capital structure\u201d, <b><i>Journal of Business Finance and Accounting<\/i><\/b> vol. 42 (5-6),<a href=\"http:\/\/onlinelibrary.wiley.com\/doi\/10.1111\/jbfa.2015.42.issue-5-6\/issuetoc\"> <\/a>Junio-Julio 2015, 705\u2013746<em><br><\/em><\/p><p style=\"font-weight: 500;\">Rodr\u00edguez, R., Moreno, J.D. &amp; Matall\u00edn-S\u00e1ez, J.C.: \u201cWhy is timing perverse?\u201d, <b><i>The European Journal of Finance, <\/i><\/b>vol. 21, 2015, 1334-1356<\/p><p style=\"font-weight: 500;\">Rodr\u00edguez, R., Moreno, J.D. &amp; Malag\u00f3n, J.: \u201cTime horizon trading and the idiosyncratic risk puzzle\u201d, <b><i>Quantitative Finance<\/i><\/b>, vol. 15 (2), 2015, 327-343<\/p><p style=\"font-weight: 500;\">Rodr\u00edguez, R., Moreno, J.D. &amp; C\u00e1ceres, E.: \u201cA study on short-selling constraints: total ban versus partial ban\u201d,<b><i> Applied Economics Letters<\/i><\/b> vol. 22 (2), 2015, 99-103<\/p><p style=\"font-weight: 500;\">Rodr\u00edguez, R., Moreno, J.D. &amp; Wang, C.:\u201cAccurately Measuring Gold Mutual Fund Performance\u201d, <b><i>Applied Economics Letters,<\/i><\/b> vol. 21 (4), 2014, 268-271<\/p><p><span style=\"font-weight: 500;\">Rodr\u00edguez, R.&amp; Moreno, J.D.: \u201cOptimal Diversification across Mutual Funds\u201d, <\/span><b><i>Applied Financial Economics <\/i><\/b><span style=\"font-weight: 500;\">vol. 23 (2), 2013, 199-203<\/span><\/p><p style=\"font-weight: 500;\">Rodr\u00edguez, R. &amp; Moreno, J.D.: \u201cThe value of coskewness in mutual fund performance evaluation\u201d, <b><i>Journal of Banking &amp; Finan<\/i><\/b><b><i>ce<\/i><\/b> vol. 33, 2009, 1664\u20131676<\/p><p style=\"font-weight: 500;\">Rodr\u00edguez, R. &amp; Pe\u00f1a, I.: \"On the economic link between asset prices and real activity\u201d, <b><i>Journal of Business Finance and Accounting <\/i><\/b>vol. 34 (5-6), Junio-Julio 2007, 889-916<\/p><p style=\"font-weight: 500;\">Rodr\u00edguez, R. &amp; Nieto, B.: \u201cThe consumption-wealth and Book-to Market ratios<br>in a Dynamic asset-pricing context\u201d, <b><i>Spanish<br>Economic Review<\/i><\/b> vol. 9, 2006<\/p><p style=\"font-weight: 500;\">Rodr\u00edguez, R. &amp; Moreno, J.D.: \u201cPerformance Evaluation considering the Coskewness: A Stochastic Discount Factor Framework\u201d, <b><i>Managerial Finance <\/i><\/b>vol. 32 (4), 2006, 375-392<\/p><p style=\"font-weight: 500;\">Rodr\u00edguez, R. &amp; Restoy, F.: \"Can Fundamentals<br>Explain Cross-Country Correlations of Asset Returns? \u201d, <b><i>Review of World Economics<\/i><\/b>, vol. 142 (3), 2006 <\/p><p style=\"font-weight: 500;\">Rodr\u00edguez, R. &amp; Nieto, B.: \u201cLos<br>Modelos de Valoraci\u00f3n de Activos Condicionales: un Panorama Comparativo<br>Ilustrado con Datos Espa\u00f1oles\u201d (2005) <b><i>Investigaciones Econ\u00f3micas<\/i><\/b>, vol. 29 (1), 2004<\/p><p style=\"font-weight: 500;\">Rodr\u00edguez, R., Restoy, F. &amp; Oe\u00f1a, I.: \u201cCan Output Explain the<br>Predictability and Volatility of Stock Returns?\u201d, <b><i>Journal of International Money and Finance <\/i><\/b>vol. 21 (2), Abril 2002, 163-182<\/p><\/span>\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"elementor-element elementor-element-1c0f7b33 elementor-hidden-desktop elementor-hidden-tablet e-flex e-con-boxed e-con e-parent\" data-id=\"1c0f7b33\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-52e47515 elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"52e47515\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"mailto:%20rosa.rodriguez@uc3m.es\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-envelope\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M464 64H48C21.49 64 0 85.49 0 112v288c0 26.51 21.49 48 48 48h416c26.51 0 48-21.49 48-48V112c0-26.51-21.49-48-48-48zm0 48v40.805c-22.422 18.259-58.168 46.651-134.587 106.49-16.841 13.247-50.201 45.072-73.413 44.701-23.208.375-56.579-31.459-73.413-44.701C106.18 199.465 70.425 171.067 48 152.805V112h416zM48 400V214.398c22.914 18.251 55.409 43.862 104.938 82.646 21.857 17.205 60.134 55.186 103.062 54.955 42.717.231 80.509-37.199 103.053-54.947 49.528-38.783 82.032-64.401 104.947-82.653V400H48z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Email: 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with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Kurt Desender - INDEM - Departamento de Econom\u00eda de la Empresa<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/indem.uc3m.es\/en\/members\/kurt-desender\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kurt Desender - INDEM - Departamento de Econom\u00eda de la Empresa\" \/>\n<meta property=\"og:description\" content=\"Email: kdesende@emp.uc3m.es Address \/ Office: C\/ Madrid, 126 &#8211; 28903 Getafe (Madrid) Spain \/ 6.0.17 Phone \/ Fax: (34) 91 624 58 44 Google Scholar CV BUSINESS UC3M @UC3M_BUSINESS Education Kurt holds a doctorate in Business Economics from the Autonomous University of Barcelona. 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