The Prize, the only one of its kind granted in Spain, aims to contribute to the development of the economy and business finance by recognizing applied research work in this field.

The prize

The Award pays tribute to Jaime Fernández de Araoz Gómez-Acebo, who dedicated his professional life to investment banking.

The purpose of the Award is to contribute to the development of Corporate Finance by recognizing the work of those individuals or teams that have made significant contributions to this field in their research or applied experience.


The “Jaime Fernández de Araoz Award on
Corporate Finance” has an endowment made up of:

  • An amount of € 10,000.
  • A sculpture by Martín Chirino (, symbol of the award.

The jury

The Jury is made up of people of recognized prestige from the economic, business and academic fields, and has been chaired by Antonio Rodríguez-Pina, President of Deutsche Bank Spain.

The history of the awards

Since the Prize was launched in 2005, 255 papers have been received from authors of more than 28 nationalities, all of them on a wide range of topics.

In the latest edition of the Jaime Fernández de Araoz Award on Corporate Finance, 32 papers were received from 83 authors with 26 different nationalities. Most of the authors come from academia and universities and are teams in which the world’s leading universities and business schools are represented.


Analysis of how the management decisions made by the directors of index funds have a considerable impact on good corporate governance and the functioning of listed companies and the economy.


Effect of the cost of external capital on the investment of young companies.


Relationship between the shortage of credit and employment.


Relationship between tax incentives and the capital structure of companies.


The talent market in the United States.


Internal corporate governance.


Executive remuneration.


Investor protection in international transactions.