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 Corporate Governance
Behind the Crisis: "The Days of Big Bonuses Are Over"
Pascual Berrone
What is behind the current global financial crisis? IESE Prof. Pascual Berrone points the finger at bad corporate governance practices. Accepted incentive schemes for top managers - such as golden parachutes that effectively reward failure, and stock options that led to excessive risk-taking in subprime mortgage securities - may be the ultimate culprit of the crisis. More
 Innovation and Entrepreneurship
Keys for Advancing a Culture of Innovation
Joaquim Vilà

The original article was published in Paradigmes núm. 0: Strategies for Innovation
Creating a culture of innovation is necessary for success, but setting the process in motion and enshrining it across the organization are not so easy. IESE Prof. Joaquim Vilà offers a road map, which he considers the management team's "inescapable responsibility" to put into practice. More
 Service and Operations Management
Logistics in Spain: Challenges and Opportunities
Marc Sachon, Jesús Arturo Orozco
The high price of petrol may, in fact, be the shock that pushes companies to reassess their distribution networks and come up with better logistics. That is one of the findings of a new report on the logistics sector in Spain. IESE Prof. Marc Sachon and research assistant Jesús Arturo Orozco interviewed the logistics managers of 130 companies to reveal the current situation the sector is going through and the trends that will mark its future. It is the first report of its kind to be produced by IESE's International Center for Logistics Research (CIIL), in collaboration with Logitrans. More
 Economics
Is Monetary Policy Becoming Less Effective?
Javier Gómez Biscarri

The original article was published in the Journal of Economics and Business
Monetary policy has recently attracted renewed attention as policymakers face increased pressure to anticipate economic fluctuations. In his article, IESE's Javier Gómez Biscarri examines term spreads as predictors of economic recessions in Europe and the United States. The results suggest that European economies have become more integrated with the American one, which may be leading to a monetary policy that is faster in affecting the real economy - but less effective. More
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