Research Papers

Corporate Governance

How "Family First" Works Out for All Shareholders

Martin, Geoffrey; Gómez-Mejía, Luis R.; Berrone, Pascual; Makri, Marianna Family firms tend to get a bad rap from non-family shareholders. Many pro-family decisions are thought to run against minority shareholders' interests, creating contentious boards. But research co-authored by IESE's Pascual Berrone paints a different picture, one in which "family-first" often means pursuing long-term goals that benefit all. Read article
Leadership and People Management

The Inside Scoop on Reducing the Gender Gap

Quintana-García, Cristina; Elvira, Marta Atop the corporate ladder, the gender pay gap persists. Why? And what might be done? In an empirical study of the senior management of high-tech firms, Marta Elvira looks at the effects of being an external hire on the two components of executive compensation: base salary and variable pay. Some surprising findings: Top female execs tend to receive more equitable pay if they are promoted internally. Read article
Finance

How Are Spain's Pension Funds Doing?

Fernández, Pablo; Pershin, Vitaly; Fernández Acín, Pablo; Fernández Acín, Isabel While the average returns for Spain's government bonds and its benchmark IBEX-35 index were over 5 percent between 2001 and 2016, its pension funds didn't fare as well: average pension fund returns were only 2 percent over the same period. In light of this, Pablo Fernandez and his team question the funds' investment formula, management commissions and tax incentives. Read article
Accounting and Control

Perverse Incentives: The Limits of Metric-Based Evaluation

Cugueró-Escofet, Natàlia; Rosanas, Josep Maria As a manager, how should you evaluate performance? The recent trend is toward ever-more-sophisticated formal models. However, in the wake of several scandals, IESE's Natàlia Cugueró-Escofet and Josep M. Rosanas point to the dangers of modelling and rigid metrics. Instead, they argue, companies desperately need to rediscover informal methods of control. Read article
Economics

Globesity: Connecting Globalization and Obesity

Costa-Font, Joan; Mas, Núria Thanks to globalization, the world may seem smaller, but the people in it are actually getting larger. Obesity is a pandemic, and the social aspects of globalization may be to blame, according to a paper by Joan Costa-Font and Núria Mas. Read article

Latest IESE documents

The Future of Spanish Pensions Díaz Giménez, Javier; Días-Saavedra, Julián
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