Julio Pindado



Selected Published Papers rated 3* and 4* at the ABS 2009

“Trade Credit during a Financial Crisis: A Panel Data Analysis” (With R. Bastos). Journal of Business Research, 2013, 66: 614-620.

“Do family firms use dividend policy as a governance mechanism? Evidence from the Euro Zone”, (With I. Requejo and C. de la Torre). Corporate Governance: An International Review, 2012, 20(5): 413–431.

“The Impact of Country-level Corporate Governance on Research and Development”. (With D. Hillier, V. de Queiroz and C. de la Torre). Journal of International Business Studies, 2011,  42 (1), 76–98.

“Family control and investment-cash flow sensitivity: Empirical evidence from the Euro zone”. (With I. Requejo and C. de la Torre).  Journal of Corporate Finance, 2011, 17( 2), 1389–1409.

“How do Firm Characteristics Influence the Relationship between R&D and Firm Value?” (With V. de Queiroz and C. de la Torre). Financial Management, 2010, Vol. 39, No 2, pp. 757-782.

“Estimating Financial Distress Likelihood” (With L. Rodrigues y C. de la Torre). Journal of Business Research, 2008. Vol. 61, No. 9, pp. 995-1003.

“The Influence of Corporate Governance on Teaching in Corporate Finance”. (With C. Mallin y C. de la Torre).  Long Range Planning.  2006. Vol. 39, pp. 457-464.

“The Role of Investment, Financing and Dividend Decisions in Explaining Corporate Ownership Structure: Empirical Evidence from Spain”. (With C. de la Torre). European Financial Management.  2006. vol. 12, No. 3, pp. 661-687. 2006 BEST PAPER AWARD.

“How does financial distress affect small firms’ financial structure?” (With L. Rodrigues C. de la Torre), Small Business Economics An International Journal, 2006, vol. 36, No. 4, pp. 377-391.

“How do entrenchment and expropriation phenomena affect control mechanisms?” (With A. Miguel and C. de la Torre). Corporate Governance: An International Review.  2005, Vol. 13, No. 4, pp. 505-516.

“Ownership structure and firm value: New evidence from Spain”(with A. Miguel and C. de la Torre). Strategic Management Journal. 2004. Vol. 25, No 12, pp. 1119-1207.

“Parsimonious models of financial insolvency in small companies”. (with L. Rodrigues). Small Business Economics: An International Journal. 2004. Vol. 22, No. 1, pp. 51-66.

“Measuring the Impact of Corporate Investment Announcements on Share Prices: The Spanish Experience” (with E. Del Brio and J. Perote). Journal of Business, Finance and Accounting. 2003. Vol. 30, No. 5&6, pp. 715-747.

“The underinvestment and overinvestment hypotheses: An analysis using panel data”(with A. Morgado). European Financial Management. 2003. Vol. 9, No. 2, pp. 163-177.

“Determinants of capital structure: New evidence from Spanish panel data”. (with A. Miguel). Journal of Corporate Finance. 2001 Vol. 7, No. 1, pp. 77-99.

Selected Published Papers with an impact factor 

“The Effect of Ownership Structure on Underinvestment and Overinvestment: Empirical Evidence from Spain”. (With C. de la Torre). Accounting & Finance. 2009, Vol. 49, No. 2, pp. 363-383.

“How do insolvency codes affect a firm’s investment?” (With L. Rodrigues y C. de la Torre).  International Review of Law and Economics, 2008. Vol. 28, pp. 227-238.

“Financial Decisions as Determinants of Ownership Structure: Evidence from Spanish Family Controlled Firms”. (With C. de la Torre). Managerial Finance. 2008, Vol. 34, No. 12, pp. 868-885.

“Determinants of financial distress costs?” (With L. Rodrigues). Financial Markets and Portfolio Management . 2005, vol. 19, No. 4, pp. 343-359. 2005 BEST PAPER AWARD.

“Capital structure and stock prices: Additional evidence” (With M. H. Maestro), Applied Financial Economics Letters, 2005, vol. 1, No. 6, pp. 355-360.

“Why is ownership endogenous?” (with C. de la Torre). Applied Economics Letters, Vol. 11, No 6, pp. 901-904.

“Investment and firm value: An analysis using panel data” (with E. Del Brio and A. Miguel). Applied Financial Economics. 2003,Vol.13, No. 12, pp. 893-903.

“The role of dividend policy in regulated firms·”. (In Spanish) (with B. Lozano and A. Miguel). Investigaciones Economicas. 2002. Vol. 26. No. 3, pp. 447-474.

“Financial determinants of intangible assets·”. (In Spanish) (with B. Lozano and A. Miguel). Revista de Economia Aplicada , 2001. Vol.  27, pp.63-81. 

Other Selected Published Papers

“Panel data: a methodology for model specification and testing”, (With I. Requejo).  in Finance volume of Wiley Encyclopedia of Management, (in press).

“Capital structure: new evidence from the ownership structure” (With C. de la Torre). International Review of Finance, 2011, Vol. 11, No.2, pp. 213–226.

“Trade credit, creditor protection and accounting standards: evidence from an international sample”. (With R. Bastos). Revista de Economia Financiera, 2009, No. 17, pp. 10-33.

“Modelo de inversión basado en la ecuación de Euler con límite máximo de endeudamiento: evidencia empírica internacional” (With M. Maestro y A. Miguel). Cuadernos de Economía y Dirección de la Empresa. 2007.  No. 3,  pp. 93-128.

“Frontiers of financially constrained and unconstrained firms: a new development in Finance” (With M. Maestro and A. Miguel), Frontiers in Finance and Economics, 2005, Vol. 2, No. 2. pp. 1-31.

“A New Topic for Teaching in Corporate Finance: How to Avoid Investment Inefficiencies”. Advances in Financial Education. 2005. vol.3, No. 3, pp. 118-134.

“Propiedad y control en el Mercado de control empresarial: Un enfoque de agencia” (With B. Lozano and A. Miguel). Revista Española de Financiación y Contabilidad, 2005. No. 124, pp. 113-139.

“The conflict between shareholders and managers: Problems and solutions proposed” (with B. Lozano and A. Miguel). ICE. 2004. No. 813, pp. 225-245.

“Goodness of proxies for Tobin’s q: International evidence(with C. de la Torre). Finance Letters, 2003. Vol 1, No. 6, pp. 14-17.

“Investment decisions: Lessons from Spanish firms” (with A. Miguel). The International Journal of Finance. 2003. Vol. 15, No. 2, pp. 2537-2556.                                                                                                 


Pindado, J. (2012): Finanzas Empresariales. Paraninfo. Madrid.

Pindado, Julio and Requejo, Ignacio (2012): Governance and Family Firms. Edward Elgar Publishing, Cheltenham, UK – Northampton, MA, USA.

Pindado, Julio and Payne, Gregory (2008): Building bridges in a global economy. Esic Editorial, Madrid.