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Public corporate governance of state-owned enterprises: evidence from the Spanish banking industry

Ysa, T; Giné, M; Esteve, M; Sierra, V; (2012) Public corporate governance of state-owned enterprises: evidence from the Spanish banking industry. Public Money & Management , 32 (4) 265 - 272. 10.1080/09540962.2012.691305. Green open access

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Abstract

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.

Type: Article
Title: Public corporate governance of state-owned enterprises: evidence from the Spanish banking industry
Open access status: An open access version is available from UCL Discovery
DOI: 10.1080/09540962.2012.691305
Publisher version: http://dx.doi.org/10.1080/09540962.2012.691305
Language: English
Additional information: This is an Accepted Manuscript of an article published by Taylor & Francis in Public Money & Management on May 14 2012, available online: http://wwww.tandfonline.com/10.1080/09540962.2012.691305.
Keywords: Banking crisis, corporate governance, multi-level governance, political influence, state-owned enterprises
UCL classification: UCL
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Political Science
URI: https://discovery.ucl.ac.uk/id/eprint/1462903
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