Monica Franco Santos

Prior to joining Cranfield, Monica worked for a leading global management consultancy. As a senior consultant she worked with numerous companies from a variety of industries and sectors. Her expertise was in the design and implementation of executive compensation systems and other Human Resources initiatives.

Her educational background includes a PhD in Management from Cranfield School of Management; postgraduate studies on Organizational Behaviour and Human Resources Management from the University of Barcelona (Spain) and a BSc in Economics and Business Administration from the University Autonoma of Madrid (Spain). 

Current activities

Monica''s research broadly focuses on organizational governance systems. In particular, her work examines the design, implementation, and use of performance measures, targets and rewards as well as the impact that these mechanisms have on behaviour and decision-making.

Her research is widely recognised (for further information visit her publications page) and has been founded by organisations such as the EPSRC, CIMA (Chartered Institute of Management Accountants), IIP (Investors in People, UK) or the Leadership Foundation.

She is part of the teaching faculty of Cranfield''s MBAs, MScs, PhD, DBA and various executive education programmes. She is a visiting professor in ESADE (Barcelona, Spain) and an occasional lecturer in a number of European academic institutions.

Articles In Journals

• Afonso D, Franco-Santos M & Gomez-Mejia L (2021) Revisiting benefits design approaches: the strategic value of identity-based benefits, The Journal of Total Rewards, 30 (1) 71-80.
• Franco-Santos M & Otley D (2018) Reviewing and theorizing the unintended consequences of performance management systems, International Journal of Management Reviews, 20 (3) 696-730.
• Bourne M, Franco-Santos M, Micheli P & Pavlov A (2018) Performance measurement and management: A system of systems perspective, International Journal of Production Research, 56 (8) 2788-2799.
• Franco-Santos M & Doherty N (2017) Performance management and well-being: a close look at the changing nature of the UK higher education workplace, International Journal of Human Resource Management, 28 (16) 2319-2350.
• Franco-Santos M, Nalick M, Rivera P & Gomez-Mejia L (2017) Governance and well-being in academia: The negative consequences of applying an agency theory logic in higher education, British Journal of Management, 28 (4) 711-730.
• Pavlov A, Mura M, Franco-Santos M & Bourne M (2017) Modelling the impact of performance management practices on firm performance: Interaction with human resource management practices, Production Planning and Control, 28 (5) 431-443.
• Bourne M, Pavlov A, Franco-Santos M, Lucianetti L & Mura M (2013) Generating organisational performance: The contributing effects of performance measurement and human resource management practices, International Journal of Operations and Production Management, 33 (11/12) 1599-1622.
• Boyd M, Franco-Santos M & Shen W (2012) International developments in executive compensation, Corporate Governance: An International Review, 20 (6) 511-518.
• Franco-Santos M, Lucianetti L & Bourne M (2012) Contemporary performance measurement systems: A review of their consequences and a framework for research, Management Accounting Research, 23 (2) 79-119.
• Franco-Santos M, Kennerley M, Micheli P, Martinez V, Mason S, Marr B, Gray D & Neely A (2007) Towards a definition of a business performance measurement system, International Journal of Operations and Production Management, 27 (8) 784-801.
• Bourne M, Franco-Santos M, Kennerley M & Martinez V (2005) Reflections on the role, use and benefits of corporate performance measurement in the UK, Measuring Business Excellence, 9 (3) 36-41.
• Bourne M, Kennerley M & Franco-Santos M (2005) Managing through measures: a study of impact on performance, Journal of Manufacturing Technology Management, 16 (4) 373-395.
• Franco-Santos M & Bourne M (2005) An examination of the literature relating to issues affecting how companies manage through measures, Production Planning and Control, 16 (2) 114-124.
• Franco-Santos M, Bourne M & Huntington R (2004) Executive pay and performance measurement practices in the UK, Measuring Business Excellence, 8 (3) 5-11.
• Franco-Santos M & Bourne M (2003) Factors that play a role in "managing through measures", Management Decision, 41 (8) 698-710.
• Bourne M, Franco-Santos M & Wilkes J (2003) Corporate Performance Management, Measuring Business Excellence, 7 (3) 15-21.

Books

• Franco-Santos M, Stull D & Bourne M (2022) Performance management and wellbeing at the workplace. In: Handbook on Management and Employment Practices, Cham: Springer, p. 1-22.
• Brennan J, Naidoo R & Franco M (2017) From Academic Profession to Higher Education Workforce: Academic Careers in the UK. In: Challenges and Options: The Academic Profession in Europe. Machado-Taylor, Maria, Soares, Virgilio Meira, Teichler, Ulrich (ed.), Springer, p. 231-252.
• Bender R & Franco-Santos M. (2017) Executive remuneration: Factors influencing consultants’ advice. London: ICAEW.
• Gomez-Mejia L & Franco-Santos M (2015) Team-based incentives: Creating a culture of collaboration, innovation and performance. In: The Compensation Handbook, p. 199-209, ed. 6.
• Franco-Santos M, Larraza-Quintana M & Bourne M (2015) People management standard, managerial capabilities and performance. In: New Clues for Analysing the HRM Black Box, Cambridge Scholars Publishing, p. 65-96.
• Franco-Santos M & Gomez-Mejia M (2014) Reward systems. In: Wiley Encyclopedia of Management, London: John Wiley & Sons, ed. 3rd.
• Lucianetti L & Franco-Santos M (2013) Human Resource Performance Management in Italian Universities. In: Public Sector Management in Italy. Sargiacomo M et al (ed.), UK: McGraw Hill Education, p. 243-274.
• Gomez-Mejia L, Berrone P & Franco-Santos M (2010) Compensation and organizational performance: Theory, research and practice. New York: M.E. Sharpe.
• Franco-Santos M (2008) Performance Measurement Issues and Incentive Application. In: Global Compensation. Gomez-Mejia, L. and Werner, S (ed.), New York: Routledge, p. 41-53.
• Franco-Santos M (2007) Performance measurement issues, incentive application and globalization. In: Global Compensation, London: Routledge.
• Franco-Santos M & Bourne M (2004) The linkage between performance measurement systems and reward practices. In: The Handbook of Performance Measurement, London: Gee Publishing, p. 769-793.
• Bourne M, Franco-Santos M & Wilkes J (2004) The impact of performance measurement on performance. In: The Handbook of Performance Measurement, London: Gee Publishing, p. 29-50.
• Franco-Santos M (2001) Rewarding hot skills. In: Cinco Dias Special Edition.

Conference Papers

• Afonso D, Franco-Santos M & Battista V (2021) Individual identity and organizational control systems: A review and a new research agenda. In: 81st Annual Meeting of the Academy of Management, Virtual, 29 July - 4 August 2021.
• Cespedes G, Franco-Santos M & Reinmoeller P. (2020) Partners and strangers: how the CEO deals with the tension between trust and control in the TMT. In: 80th Annual Meeting of the Academy of Management, Virtual, 7-11 August 2020.
• Cespedes G, Franco-Santos M & Reinmoeller P (2020) Integration at the top: A closer look at top management team internal process. In: BAM 2020: 34th Annual British Academy of Management Conference, Manchester, 2-4 September 2020.
• Cespedes G, Franco-Santos M & Reinmoeller P (2019) Building trust at the top. In: 79th Annual Meeting of the Academy of Management, Boston, MA, 9-13 August 2019.
• Otley D & Franco-Santos M (2018) Towards a better conceptualisation of management control systems: A complexity view. In: Management Accounting Research Group Conference 2018, London School of Economics and Political Science, 19 April 2018.
• Bender R & Franco-Santos M (2017) Unlocking the black box of executive compensation: An investigation of the mental models influencing compensation consultants' advice. In: British Academy of Management Annual Conference, 2017, Warwick, 5-8 September 2017.
• Franco-Santos M, Otley D & Rivera P (2017) Performance management practices in Higher Education: A choice or a consequence of their past. In: Management Control Association, Groningen, 8-9 June 2017.
• MacBryde J & Franco-Santos M (2016) Designing better performance measurement systems in universities using the business model canvas. In: 5th World Conference on Production and Operations Management (P&OM), Havana, Cuba, 6-10 September 2016.
• Franco-Santos M, Nalick M & Rivera P (2015) Applying Stewardship and Agency Theories to Governance Structures inside Organizations. In: 75th Academy of Management Annual Meeting, 2015, Vancouver, British Columbia, 7-11 August 2015.
• Franco-Santos M, Battista V & Lucianetti L (2015) Managing the unmanageable: A closer look at the relationship between control systems and the performance of universities. In: European Accounting Association, Glasgow, 28-30 April 2015.
• Franco-Santos M, Battista V & Lucianetti L (2015) Managing the unmanageable: A closer look at the relationship between control systems and the performance of universities. In: European Accounting Association, Glasgow, 28 April 2015.
• Franco-Santos M, Nalick M, Rivera P & Gomez-Mejia L (2014) The Reconciliation of agency and stewardship theories: Why neither theory alone can satisfy the expectations of internal stakeholders. In: Strategic Management Society, Madrid, 19-23 September 2014.
• Franco-Santos M (2013) Performance management in English higher education institutions. In: EIASM 7th Conference on Performance Measurement and Management Control, Barcelona, 18 September 2013.
• Marcos Cuevas J, Marcos Cuevas J & Franco-Santos M (2012) The impact of sales performance goals on behaviors: Enhancing or compromising sustainable performance?. In: Academy of Marketing Science Annual Conference, New Orleans, 16 May 2012.
• Bourne M, Gray D, Mura M, Pavlov A, Franco-Santos M & Lucianetti L (2012) The Effect of Performance Measurement on Performance: Does Human Resource Management Have Anything to Contribute?. In: PMA Performance Management Association 2012 Conference, Cambridge, 11-13 July 2012.
• Franco-Santos M, Khilji S & Bourne M (2011) Understanding the performance impact of Investors in People: a social exchange approach. In: British Academy of Management Annual Conference 2011, Birmingham, 13-15 September 2011.
• Franco-Santos M (2011) Multi-criteria performance measurement, executive compensation and firm performance: The moderating role of organizational culture. In: EIASM - 6th Conference on Performance Measurement and Management Control, Nice, 7 September 2011.
• Bourne M, Mura M, Franco-Santos M, Pavlov A, Martinez V & Lucianetti L (2009) Performance Management Practices and the Drivers of Business Performance. In: PMA 2009 Performance Management Association Conference, Dunedin, 14-17 April 2009.
• Franco-Santos M (2009) Diverse measurement, compensation and firm performance: The moderator role of organizational culture. In: EIASM Conference on Reward Management, Brussels.
• Bourne M, Franco-Santos M, Pavlov A, Martinez V & Lucianetti L (2008) Performance management practices and their impact on organisational performance: implications for HR and performance measurement research. In: EurOMA 15th Annual Conference, Groningen, 15-18 June 2008.
• Franco-Santos M (2007) The performance impact of using measurement diversity in executives incentives. In: EIASM Conference on Reward Management, Brussels.
• Marcos Cuevas J, Marcos Cuevas J & Franco-Santos M (2006) How Can We Make Iberoamerican Research More Relevant to Practice and Policy Makers?. In: Iberoamerican Academy of Management - Professional Development Workshop (Academy of Management Annual Meeting), Atlanta, 11 August 2006.
• Franco-Santos M, Bourne M & Huntington R (2005) The relationship between strategic performance measurement systems and executive compensation systems: A UK based study. In: PMA 2004 Conference, Edinburgh.
• Franco-Santos M & Bourne M (2004) Are strategic performance measurement systems really effective?. In: EurOMA 11th annual conference, Fontainebleau.
• Marr B, Neely A, Bourne M, Kennerley M, Franco-Santos M, Wilcox M, Adams C & Mason S (2004) Business performance measurement - what is the state of use in large US firms?. In: PMA 2004 Conference, Edinburgh.
• Micheli P, Franco-Santos M, Marr B & Bourne M (2004) Business performance measurement - an organisational theory perspective. In: PMA 2004 Conference, Edinburgh.
• Franco-Santos M & Bourne M (2003) The link between strategic performance measurement systems and reward systems: a review of theory and practice. In: British Academy of Management Conference, Harrogate.
• Bourne M, Kennerley M & Franco-Santos M (2003) Managing through measures: a study of the impact of performance measurement on performance. In: POMS/EurOMA Conference, Lake Como.
• Franco-Santos M & Bourne M (2003) Business performance measurement systems: a systematic review. In: POMS/EurOMA Conference, Lake Como.