Accounting and Control Department

Developing future leaders in effective measurement and reporting of business activities – vital to operative and strategic decision-making – is at the core of our Accounting and Control Department’s mission.

Effectively communicating an organization’s economic activities has a vital impact on internal decisions made by management teams, and on external decisions made by investors and stakeholders. The department’s faculty educates managers not only in accounting methods and principles, but also in understanding how accounting helps them in their stewardship responsibilities within a firm.

Coursework includes Financial Accounting, Managerial Accounting, Corporate Financial Reporting, Fundamental Analysis, Management Control, and International Financial Statements Analysis.

Through their research, the department’s faculty is bringing the most recent and influential ideas in accounting and control to the business community. Some of the findings have been published in prestigious journals such as The Accounting Review, Review of Accounting Studies and The Journal of Accounting and Economics.

Former Collaborators


  • Zanh BOZANIC (October 2018)
    The Ohio State University
  • Katharina HOMBACH (October 2018)
    Frankfurt School of Finance & Management
  • Aytekin ERTAN (November 2018)
    London Business School
  • Delphine SAMUELS (November 2018)
    MIT Sloan School of Management
  • Mark DEFOND (March 2019)
    University of Southern California
  • Pepa KRAFT (March 2019)
    HEC Paris
  • Alastair LAWRENCE (March 2019)
    London Business School
  • Sharon KATZ (April 2019)
  • Joanna WU (May 2019)
    University of Rochester
  • Hans CHRISTENSEN (June 2019)
    The University of Chicago Booth School of Business
  • Eric SO (October 2017)
    Massachusetts Institute of Technology
  • Gil SADKA (November 2017)
    Naveen Jindal School of Management – The University of Texas at Dallas
  • Holger DASKE (November 2017)
    University of Mannheim
  • Steven MONAHAN (November 2017)
    INSEAD Business School
  • Ulf BRÜGGEMANN (December 2017)
    HU Berlin
  • Wenjiao CAO (January 2018)
    Frankfurt School of Finance & Management
  • Alper DARENDELI (January 2018)
    London Business School
  • Erik JOHANNESSON (January 2018)
    Columbia Business School
  • Sarah KRÖCHERT (February 2018)
    Humboldt University of Berlin
  • Thomas RAUTER (February 2018)
    Vienna University of Economics and Business
  • Oleg KIRIUKIN (February 2018)
    The University of Chicago, Booth School of Business
  • Haresh SAPRA (February 2018)
    The University of Chicago, Booth School of Business
  • Jessica KIM-GINA (February 2018)
    The Wharton School, University of Pennsylvania
  • Partha MOHANRAM (March 2018)
    Rotman School of Management University of Toronto
  • Christian LEUZ (April 2018)
    The University of Chicago Booth School of Business
  • Maximilian MUELLER (May 2018)
    WHU-Otto Beisheim School of Management
  • Eddie RIEDL (May 2018)
    Boston University Questrom School of Business
  • Shiva RAJGOPAL (June 2018)
    Columbia Business School
  • Yun LOU (June 2018)
    Singapore Management University
  • Shivakumar LAKSHMANAN (October 2016)
    London Business School
    “Do Compensation Disclosures Matter for SoP Voting?”
  • Irem TUNA (November 2016)
    London Business School
    “Foreign versus Domestic Corporate Investment Decisions”
  • Omri EVEN-TOV (March 2017)
    Berkeley Haas School of Business
    “What Explains Acquisition Premiums and Why do Targets Reject Offers? – Evidence from Failed Acquisition Offers”
  • Colleen HONIGSBERG (May 2017)
    Stanford Law School
    “What Happens when Loans Become Legally Void? Evidence from a Natural Experiment”
  • Stefan REICHELSTEIN (May 2017)
    Graduate School of Business, Stanford University
    “Relating Product Prices to Long-Run Marginal Cost: Evidence from Solar Photovoltaic Modules“
  • Sugata ROYCHOWDHURY (June 2017)
    Carroll School of Management, Boston College
    “Does Litigation Encourage or Deter Real Earnings Management?”
  • Reuven LEHAVY (September 2015)
    University of Michigan
    “Analyst Information Discovery and Interpretation Roles: A Topic Modeling Approach”
  • Mark WOUTERS (October 2015)
    Karlsruhe Institute of Technology
    “Using Customer Value Propositions to Guide Technology Commercialization”
  • Catherine SCHRAND (October 2015)
    University of Pennsylvania
    “Do Managers Tacitly Collude to Withhold Industry-Wide Bad News?”
  • Carlos CORONA (December 2015)
    Carnegie Mellon University
    “Banks’ Voluntary Adoption of Fair Value Accounting, Procyclical Investment, and Capital Requirement”
  • Xanthi GKOUGKOUSI (April 2016)
    Nova School of Business and Economics
    “Information Content of Aggregate Loan Loss Provisions”
  • Jonas HEESE (May 2016)
    Harvard Business School
    “Politically Connected Firms and SEC Comment Letters”

Job Opportunities

Positions in the following areas: Financial Accounting, Managerial Accounting, and Management Control Systems

The Accounting and Control Department is seeking applicants for full-time, tenure-track faculty positions. We consider all levels: Assistant, Associate, or Full Professor, in Financial Accounting, Managerial Accounting, and Management Control Systems.

JOB QUALIFICATIONS: Demonstrated ability or potential for high-quality research and teaching are essential. Applicants must have a PhD (expected completion by July 31, 2023) from an accredited institution. The appointment is expected to begin in September 2023.

IESE Business School, the graduate school of management of the University of Navarra, is located in Barcelona and Madrid and has facilities in Munich, New York and Sao Paulo. It offers the MBA, Global Executive MBA, Executive MBA and PhD in Management degrees, as well as a wide range of executive education programs for global senior executives and Continuing Education programs for alumni. IESE is an equal opportunity, affirmative action employer. Women and minority candidates are strongly encouraged to apply.

If you are interested, please apply by Dec. 14, 2022 through the following link, where you will also find additional information and contact details:

Please note that only applications submitted through the links above will be considered.

Best regards,

The Recruiting Committee


Journal Articles (refereed)

ORMAZABAL, G., BARROSO CASADO, R., N'GATTA, D. (2022). Individual wealth taxes and corporate payouts. The Accounting Review. (Forthcoming)
BONETTI, P., ORMAZABAL, G. (2022). Boosting foreign investment. The Role of cerfitication of corporate governance. Journal of Accounting Research. (Forthcoming)
DYRENG, S., HILLEGEIST, S. A., PEÑALVA, F. (2022). Earnings management to avoid debt covenant violations and future performance. European Accounting Review, 31 (2), 311-343. doi:10.1080/09638180.2020.1826337.
AZAR, J., DURO, M., KADACH, I., ORMAZABAL, G. (2021). The Big three and corporate carbon emissions around the world. Journal of Financial Economics, 142 (2), 674-696. doi:10.1016/j.jfineco.2021.05.007.
GOMEZ-BISCARRI, J., LÓPEZ, G., MESA-TORO, A. (2021). The Risk implications of the business loan activity in credit unions. Journal of Financial Stability, 56. doi:10.1016/j.jfs.2021.100932.
BOLTON, P., KACPERCZYK, M. T., LEUZ, C., ORMAZABAL, G., REICHELSTEIN, S., SCHOENMAKER, D. (2021). Mandatory carbon disclosures and the path to net zero. Management and Business Review, 1 (3).
BADIA, M., DURO, M., JORGENSEN, B. N., ORMAZABAL, G. (2021). Disclosure regulation and competitive interactions. Evidence form the oil and gas industry. The Accounting Review, 96 (5), 1-29. doi:10.2308/TAR-2018-0436.
BADIA, M., DURO, M., PEÑALVA, F., RYAN, S. (2021). Debiasing the measurement of conditional conservatism. Journal of Accounting Research, 59 (4), 1221-1259. doi:10.1111/1475-679X.12366.
SIMONS, R., DÁVILA, A. (2021). How top managers use the entrepreneurial gap to drive strategic change. European Accounting Review, 30 (4), 583-609. doi:10.1080/09638180.2020.1792959.
BONETTI, P., LEUZ, C., MICHELON, G. (2021). Large-Sample Evidence on the Impact of Unconventional Oil and Gas Development on Surface Waters. SCIENCE, 373 (6557), 896-902. doi:10.1126/science.aaz2185.

Working Papers

BONETTI, P., LEUZ, C., MICHELON, G. (2022). Internalizing externalities. Disclosure regulation for hydraulic fracturing, drilling activity and water quality.
COHEN, S., KADACH, I., ORMAZABAL, G. (2022). Why do institutional investors request climate related disclosures?.
COHEN, S., KADACH, I., ORMAZABAL, G., REICHELSTEIN, S. (2022). Executive compensation tied to ESG performance. International evidence.
CUGUERÓ-ESCOFET, N., ROSANAS J. M., J. M. (2021). Inequality, Economism and Bad Management (WP-1306-E). Barcelona: IESE.
BISSESSUR, S., LITJENS, R., ORMAZABAL, G. (2021). What hinders accounting harmonization?. Learning from the enforcement of IFRS in the European Union.

ORMAZABAL, G., N'GATTA, D., RANEY, R. (2022). Trading emission allowances and reporting incentives. Haskayne and Fox Accounting Conference.
RANEY, R., CURTIS, A. (2021). Delayed updating of fair values. Lack of information or intentional delays?. American Accounting Association Financial Accounting and Reporting Section Conference 2021.
RANEY, R., CURTIS, A., LOH, W. T. (2020). The Effect of aggregation on the usefulness of fair value estimates. American Accounting Association Financial Accounting and Reporting Section Conference 2020.

Articles in other publications

ROSANAS, J. M. (2017). Consistent Decisions, Trust and Being Mindful of Consequences. Juan A. Pérez López: The View from 2016. Alumni Magazine (144), pp. 28 - 31.
ROSANAS, J. M. (2017). Decisiones consistentes, confianza y huellas. Juan Antonio Pérez López visto desde el 2016. Revista de Antiguos Alumnos (144), pp. 32 - 35.
ORMAZABAL, G. (2016). Lo que todo consejero debería saber. Supervisión de riesgos. IESE Insight (28), pp. 23 - 28.
ORMAZABAL, G. (2016). Risk Oversight: What Every Director Should Know. Are Risky Boards Getting Riskier? IESE Insight (28), pp. 23 - 28.
FERNÁNDEZ, A. (2015). How to Fuel Healthy Growth. A User's Guide for Small Business Success. IESE Insight (25), pp. 17 - 24.


PEREIRA, F., GRANDES, M. J. (2016). Dirección y Contabilidad Financiera. Barañáin: EUNSA. Ediciones Universidad de Navarra.
ROSANAS, J. M. (2013). Decision-Making in an Organizational Context. Beyond Economic Criteria. Basingstoke [England]: Palgrave Macmillan.
PEREIRA, F., ROSANAS, J. M., BALLARÍN FREDES, E., GRANDES, M. J. (2011). Contabilidad para dirección. Barañáin: EUNSA. Ediciones Universidad de Navarra.
ROSANAS, J. M. (2010). Més enllà de l'eficàcia. Un punt de vista humanista i realista de la presa de decisions, les organitzacions i les persones.
PALENCIA, L. (2010). Accounting Conservatism in Accounting-Based Valuation Models. Interaction Between Conservatism and Growth. Saarbrücken, Germany: Lambert Academic Publishing.

Edited books

DÁVILA, A., EPSTEIN, M. J., SHELTON, R. (2006). The creative enterprise: Managing innovative organizations and people: Strategy. London: Praeger Publishers.
DÁVILA, A., EPSTEIN, M. J., SHELTON, R. (2006). The creative enterprise: Managing innovative organizations and people: Execution. London: Praeger Publishers.
DÁVILA, A., EPSTEIN, M. J., SHELTON, R. (2006). The creative enterprise: Managing innovative organizations and people: Culture. London: Praeger Publishers.

Book Chapters

VILLAESCUSA, N. (2022). The fraud triangle. Assessing fraud risk. In Suleman Sherali Kamwani; Elisabete S. Vieira ; Mara Madaleno and Graça Azevedo (Ed.), Handbook of research on the significance of forensic accounting techniques in corporate governance. Hershey, PA: Igi Global.
PEÑALVA, F., WAGENHOFER, A. (2021). Conservatism in debt contracting. Theory and empirical evidence. In Clatworthy, Mark ; García Lara, Juan Manuel; Lee, Edward. (Eds.), Accounting and debt markets: four pieces on the role of accounting information in debt markets. Abingdon, Oxon ; New York: Routledge.
DURO, M., ORMAZABAL, G. (2018). Does Regulating Banks' Corporate Governance Help? A Review of the Empirical Evidence. In Belén Díaz Díaz, Samuel O. Idowu, Philip Molyneux (Eds.), Corporate Governance in Banking and Investor Protection: From Theory to Practice (pp. 3 - 20). Cham: Springer International Publishing.
SEAGER, P., MAXIMON, H. M. (2017). "Show Me the Money!" Getting Inside the Bottom Line. In Mike Rosenberg and Philip H. Seager (Ed.), Managing Media Businesses: A Game Plan to Navigate Disruption and Uncertainty (pp. 37 - 53).
GINER, B., PEÑALVA, F. (2014). Conservatism and Accounting Earnings. In Colin Clubb and Shahed Imam (Editors) (Ed.), Wiley Encyclopedia of Management; Vol. 1 Accounting (pp. 1 - 8). Chichester: John Wiley & Sons.


WEBER, E., ARIÑO, M. A., TORT-MARTORELL, P., PUIGFERRAT, R., COLL, C., IESE (2016). Business Barometer Back to Basics 2016.


SOLER, E., PEÑALVA, F. (2022). Becker Textilwerk GmbH. IESE, C-810.
SOLER, E., PEÑALVA, F. (2022). Becker Textilwerk GmbH. IESE, C-810-E.
SOLER, E., PEÑALVA, F. (2022). Bruxelles Services Linguistiques (BSL). IESE, C-811.
SOLER, E., PEÑALVA, F. (2022). Bruxelles Services Linguistiques (BSL). IESE, C-811-E.
ORMAZABAL, G. (2022). Schneider Electric: vincular la remuneración al ESG. IESE, C-804.

Technical Notes

PEÑALVA, F., BADIA, M., DURO, M. (2022). Financial Assets. IESE, CN-243-E.
COBO, E., DURO, M., SOLER, E. (2020). Preparación y auditoría de las cuentas anuales. IESE, CN-242.
COBO, E., DURO, M., SOLER, E. (2020). Preparation and Audit of the Annual Financial Statements. IESE, CN-242-E.
BALLARÍN FREDES, E. (2016). Tablas de valor actual. IESE, CN-109.
BALLARÍN FREDES, E. (2016). Current Value Tables. IESE, CN-109-E.