Purpose – The purpose of this paper is to investigate the relationship between corporate governance and cost of equity capital for a set of Spanish firms. Design/methodology/approach – The paper focuses on five board characteristics that have received widespread attention in corporate...

This paper provides a theoretical background, based on legal and political fields, which we adapt to explain political interference in accounting in the “public interest”, at a critical moment —the last financial crisis. This framework goes beyond the positive accounting theory, and in...