Research Papers

Finance

Banking Risk: Time to Separate CEO Compensation From Shareholders' Interests

Eufinger, Christian; Gill, Andrej When CEO pay is aligned with shareholders' interests, bank executives may be incentivized to take on too much risk, says IESE's Christian Eufinger. This is not a corporate governance failure, but a problem stemming from government guarantees -- one with a proposed solution. Read article
Accounting and Control

Moving Targets: How Organizations Set Performance Goals as They Grow

Aranda, C.; Arellano, J.; Dávila, Antonio Effective target-setting is a learning process. For more learning inputs, managers might be wise to think like they did in their organization's entrepreneurial stage, according to research by Antonio Dávila. Read article
Business Ethics and Corporate Social Responsibility

Social Responsibility: Would Scrooge Really Change his Ways?

Hafenbrädl, Sebastian; Waeger, Daniel What do you believe? Is the business of business to increase profits, as Milton Friedman insisted? Or should management be more broadly concerned with society, which might ultimately benefit business, too? Most importantly, what do executives really believe when it comes to CSR and the bottom line? Read article
Decision Analysis

Team Up to Take Better Risks

Lejarraga, Tomás; Müller-Trede, Johannes If you must make a risky decision, you would be wise to make it together with someone who learns about the risk differently than you do. Research by Tomás Lejarraga and IESE's Johannes Müller-Trede explains why. Read article
Finance

Looking on the Bright Side of Financial Derivatives

Blanco, Iván; Wehrheim, David Financial derivatives got a bad name after the crisis. But research by David Wehrheim finds a silver lining: options trading is actually positively linked to firm innovation over the longer term. Here's why. Read article

Latest IESE documents

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