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Social Activity in Spanish Banking Foundations: Governance Dynamics

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  • Carlos Rubio Nieto

    (Facultad de Ciencias Económicas y Empresariales (ICADE), Universidad Pontificia Comillas de Madrid, C/Alberto Aguilera 23, 28015 Madrid, Spain)

  • José Luis Fernández Fernández

    (Facultad de Ciencias Económicas y Empresariales (ICADE), Universidad Pontificia Comillas de Madrid, C/Alberto Aguilera 23, 28015 Madrid, Spain)

  • José Manuel Rodríguez Carrasco

    (Departamento de Organización de Empresas, UNED, Paseo Senda del Rey, 11, 28040 Madrid, Spain)

Abstract

Regulators in Spain transformed the savings bank by dividing each of them into a bank and a foundation. The bank continues lending activity, and the foundation focuses on social work. The aim of this paper is to explore how the governance structures and their dynamics in banking foundations relate to their social work. For this purpose, we use the relevant theoretical framework in the field of governance, focusing on agency, stewardship, and stakeholder theories. To achieve this aim, we perform semi-structured interviews with members of governance bodies, in the framework of a qualitative approach. We find that studied characteristics of governance relate to social work in different ways. Diversity in the governance bodies, through a balance between economic and social logic, and through representation of stakeholders, among other elements, relates positively to the level of social work. Additionally, it shapes the mix of social activity types. We conclude that the chosen theoretical framework helps us understand the phenomenon and interpret the results. The research question is answered but, at the same time, the empirical research reveals the complexity of the relationships and indicates future lines of research.

Suggested Citation

  • Carlos Rubio Nieto & José Luis Fernández Fernández & José Manuel Rodríguez Carrasco, 2025. "Social Activity in Spanish Banking Foundations: Governance Dynamics," Social Sciences, MDPI, vol. 14(3), pages 1-30, March.
    • Handle: RePEc:gam:jscscx:v:14:y:2025:i:3:p:166-:d:1608795
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    References listed on IDEAS

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    2. Giacomo Boesso & Fabrizio Cerbioni & Andrea Menini & Antonio Parbonetti, 2017. "The role of the board in shaping foundations’ strategy: an empirical study," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 21(2), pages 375-397, June.
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