TY - JOUR
T1 - Public corporate governance of state-owned enterprises
T2 - Evidence from the Spanish banking industry
AU - Ysa, T.
AU - Giné, Mireia
AU - Esteve Laporta, M.
AU - Sierra, V.
PY - 2012/7
Y1 - 2012/7
N2 - This article provides a framework for public corporate governance combining two main components: traditional corporate governance (via governing bodies) and multi-level governance (via regulation). We provide evidence from the publiclyowned Spanish savings banks ('cajas'), which have a conflict between their two main goals: operating efficiently and maximizing the reach of their welfare projects. The case may have lessons for policy-makers in the 80+ countries that have some government ownership of banks, and for managers muddling through public corporate governance.
AB - This article provides a framework for public corporate governance combining two main components: traditional corporate governance (via governing bodies) and multi-level governance (via regulation). We provide evidence from the publiclyowned Spanish savings banks ('cajas'), which have a conflict between their two main goals: operating efficiently and maximizing the reach of their welfare projects. The case may have lessons for policy-makers in the 80+ countries that have some government ownership of banks, and for managers muddling through public corporate governance.
KW - Banking crisis
KW - corporate governance
KW - multi-level governance
KW - political influence
KW - state-owned enterprises
UR - http://www.scopus.com/inward/record.url?scp=84861551667&partnerID=8YFLogxK
U2 - 10.1080/09540962.2012.691305
DO - 10.1080/09540962.2012.691305
M3 - Article
AN - SCOPUS:84861551667
SN - 0954-0962
VL - 32
SP - 265
EP - 272
JO - Public Money and Management
JF - Public Money and Management
IS - 4
ER -