Soley Sans, Jorge; Sánchez de León, Carlos
The Bankia case raises many questions. IESE Prof. Jorge Soley and Carlos Sánchez de León analyze the savings bank, from its creation and IPO, to its nationalization and restructuring, which has seen branch closures, layoffs and a new commercial strategy. How much wiggle room does a nationalized bank have? And how will Bankia's woes affect the rest of the Spanish banking system?
While Say-on-Pay policies may not curb excessive remuneration, they do provide other measurable, positive benefits for companies and their shareholders. IESE Prof. Mireia Giné argues that Say-on-Pay measures can be effective for strengthening corporate governance and accountability within the firm, outweighing the time and costs they require.
Navarro-Rubio, José María; Tàpies Lloret, Josep
Running a business is no walk in the park. If you lack the appropriate governing bodies, it is easy to end up at a point of no return. IESE Prof. Josep Tàpies, together with José María Navarro-Rubio, senior partner at Corporate Consulting, has developed a manual on how to create an effective board of directors, which is critical for the growth and survival of any company.
Stein Martínez, Guido; Gallego, Manuel
An analysis of 111 major Spanish companies shows that CEO dismissal due to poor management increases when the board is dominated by members who are proprietary directors, that is, shareholders themselves or representatives of major shareholders, and/or who belong to the boards of other companies.
GenSpring Family Offices
Given the extent to which family enterprises drive global economic growth, a broader understanding of the critical contributors to their longevity and survivability is needed. Families in business need to find ways to diversify and innovate all aspects of their enterprise and wealth. An international research team, including Juan Roure and Juan Luis Segurado of IESE, explores these issues.
Pin Arboledas, José R.; Gallifa, Ángela; Alvaro, C.
The number of women on the executive boards of Ibex-35 companies has more than doubled since 2008. Even so, women still represent only 13 percent of board members, far short of the European Commission's 40 percent target. This is just one of the findings of an annual report on good governance in Spain, which also registered falling participation among shareholders.
Giné, Mireia; Berrone, Pascual; Ormazabal Sánchez, Gaizka
When Citi and Barclays shareholders exercised their say-on-pay votes to reject their banks' executive pay, some hailed it as a watershed moment for shareholder activism. Yet others wonder to what extent say-on-pay will actually have an impact on performance. Is it just a way for disgruntled shareholders to blow off steam? IESE's Mireia Giné, Gaizka Ormazabal and Pascual Berrone offer their insights.
Tàpies Lloret, Josep
Now, more than ever, family-owned businesses must learn to adapt to hard economic times and go international. To help them face the future, the Chair of Family-Owned Business at IESE has compiled 26 video clips that offer practical tips for handling these challenges successfully.
Olale, Esther; Vaccaro, Antonino
This two-part IESE case analyzes marketing issues associated with a controversial sector: the tobacco industry. It proposes a discussion about the ethics of tobacco advertising and the adoption of reactive versus proactive governmental policies.
Cuñat, Vicente; Giné, Mireia; Guadalupe, Maria
The difference between a successfully passed shareholder proposal and a blocked one can often come down to just one vote. Using more than 10 years of voting data for public firms in the United States, IESE Prof. Mireia Giné and colleagues focus on close-call votes that are hard to predict by the market, in order to estimate the impact of a firm's internal corporate governance on share price and long-term performance.