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We have the pleasure of inviting you to the SUERF and CNMV conference on “Corporate
governance, executive compensation and ESG goals”,
to be held virtually on 11-12 November 2021.
Motivation
Acting as stewards of the investments of millions of citizens worldwide, institutional investors increasingly take environmental, social and governance (ESG) issues into account when making investments in portfolio firms. Nevertheless, the ultimate success
of these investment strategies will depend on the alignment of incentives of corporate managers with the long-term strategies that are necessary to ensure that the delivery of financial performance goes hand in hand with a positive contribution to society.
And this will require profound changes to executive compensation. Since the 1990s, there has been much debate about executive compensation practices. Are compensation contracts designed to motivate managers by offering payment for long-term performance or
are they the flawed result of malpractice that allows powerful managers to set high rewards for themselves even when other stakeholders are getting reduced shares of the value generated by the firm? This debate is now more important than ever considering the
difficulties inherent in designing compensation based on measures of progress in ESG issues.
The SUERF and CNMV Conference on “Corporate governance, executive compensation and ESG goals” will contribute to this debate by bringing together an
international group of academic researchers, regulators and institutional investors to bear on these issues.
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CET
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Thursday, 11 November 2021
• Online via Webex
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13:00
13:15
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Opening and welcoming address
Ernest Gnan, Head of Economic Analysis Division, OeNB and SUERF
Jordi Gual, Professor, IESE Business School, Non-executive
Chairman of VidaCaixa and SUERF Fellow
Keynote Lecture
Integrating ESG risks into the prudential regulation for banks
José Manuel Campa, Chairperson of the European Banking Authority (EBA)
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14:00
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Session I
Chair:
Eudald Canadell Casanova, Director, CNMV
Title tbc
Amra Balic, Managing Director, Head of BlackRock’s EMEA Investment Stewardship team
When Employees have their Say on Capital Structure: Evidence from a quasi-natural experiment
María Gutiérrez, Professor, Universidad Carlos III, Madrid
Executive compensation challenges for boards - diversity and incentives
Patricia Jackson, Non-Executive Chairman SMBC Nikko Capital Markets; BISL Limited
Peer v Pure benchmarks in the compensation of mutual fund managers
Juan Pedro Gómez, Professor, IE Business School
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15:30
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End – Day 1
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Friday, 12 November 2021
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13:00
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Opening and welcoming address
Rodrigo Buenaventura, Chairman of the CNMV
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13:15
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Keynote Lecture
Overview of recent developments in corporate governance and executive compensation: ESG challenges
Claudia Custodio, Professor, Imperial College London
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14:00
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Session I
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Chair:
Helena Viñes, Commissioner at the CNMV
Board engagement in companies’ transformation toward sustainability. Evidence from Italy
Carmine Di Noia, Commissioner at CONSOB; Professor, LUISS Business School
How can universal owners influence corporate governance: Expectation documents
Vicente Bermejo, Professor, ESADE Business School
CEO Compensation: Evidence from the field
Dirk Jenter, Professor, London School of Economics
Sustainable Development Goals and corporate governance: Evidence from the Spanish market
Irma Martínez, Professor, Universidad de Oviedo
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15:30
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End – Day 2
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To participate, please register by using the following
LINK.
Feel free to share this invitation with colleagues who might be interested to attend!
We look forward to your participation!
www.suerf.org/cnmv2021
Program Committee
Roberto Blanco, Banco de España I SUERF;
Eudald Canadell Casanova, CNMV; Maria Isabel Cambón, CNMV; Ernest Gnan, OeNB I SUERF;
Juan Pedro Gómez, Instituto de Empresa; María Gutiérrez Urtiaga, Universidad Carlos III de Madrid;
José María Moreno, CNMV.
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