The effects of the crisis on the Spanish banking system: Do Spanish cajas need a governance make-over

M. Esteve Laporta, Mireia Gine Torrens, V. Sierra, T. Ysa

Producción científica: Contribución a una conferenciaContribución

Resumen

This article examines the effects of the crisis on Spanish savings banks (Cajas), financial entities with government participation which by law must use part of their profits for social purposes. With the crisis the Cajas have suffered more bad debt than the banks, leading to the biggest integration process in their history (37 Cajas out of a total of 46 are currently involved in integration). We describe the different strategies ¿merger, acquisition, or SIP- that Cajas have adopted to cope with the current financial crisis. Finally, the issue of whether change is required in the corporate governance of the Cajas is raised, and it is concluded that the most important factor for their mission and efficiency, in both financial and social terms, is the profile of their management, not the state influence on their corporate governance.
Idioma originalInglés
EstadoPublicada - 7 abr 2010
Evento14th IRSPM Conference -
Duración: 7 abr 20109 abr 2010

Conferencia

Conferencia14th IRSPM Conference
Período7/04/109/04/10

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