Professor of Accounting and Control
and Analysis of Business Problems
Ph.D. in Business Administration (Accounting), University of California-Berkeley
Master of Science in Business Administration, University of California-Berkeley
MBA, IESE, University of Navarra
Ingeniero de Caminos, Canales y Puertos, Universidad de Cantabria
Areas of Interest
* Cost systems and financial information
* Accounting based valuation models
* Financial statement analysis
Prof. Palencia holds a degree in civil engineering from the Universidad de Cantabria, Spain. He completed his MBA at IESE in 1989, and upon graduation worked for three years in the project management section of the engineering group, Bechtel. One of his assignments involved supervising the works carried out by the construction division of the Barcelona 1992 Organizing Olympic Committee. He joined IESE's faculty in 1992, teaching managerial accounting and analysis of business problems. He obtained his Ph.D. in accounting from the University of California at Berkeley in 1999.
His research interests are primarily focused on the area of business valuation using accounting measures, and the effects of the accounting regime on accounting-based valuation models. He is also interested in analysis of profitability and financial diagnosis.
Prof. Palencia teaches the courses "Analysis of Business Problems" and "Managerial Accounting," which both feature in IESE's MBA, executive education and doctoral programs. In addition, he has taught at the Haas School of Business Administration while working on his Ph.D., and has been visiting professor at Instituto Internacional San Telmo and the Lagos Business School.
Since 1993, Prof. Palencia has participated in a number of consulting projects, most of which have concerned business valuation, an area in which he has developed business models for Internet start-ups, software companies and transportation companies. He has also designed and implemented cost systems for industrial companies.