IDEAS home Printed from https://ideas.repec.org/p/cem/doctra/317.html
   My bibliography  Save this paper

Subsidiarity portfolios and separation compacts to enhance the governance of state-owned banks

Author

Listed:
  • Rodolfo Apreda

Abstract

This paper sets forth a new approach to state-owned banks grounded on portfolio theory and the principle of subsidiarity, so as to improve the governance of such institutions. Firstly, it defines what is meant by portfolio of portfolios and the separation feature, which leads to setting up what we call a separation compact. Next, the principle of subsidiarity is introduced, highlighting the pathways to its uses and misuses when we deal with state-owned banks. Afterwards, we bring forward the notion of subsidiarity portfolio, stressing how such construct can foster to a great degree key governance variables, namely accountability, control, transparency, management, checks and balances, as well as the fulfillment of the fiduciary role. Finally, it is laid down a new viewpoint for state-owned banks, from which they come to be regarded as separation compacts.

Suggested Citation

  • Rodolfo Apreda, 2006. "Subsidiarity portfolios and separation compacts to enhance the governance of state-owned banks," CEMA Working Papers: Serie Documentos de Trabajo. 317, Universidad del CEMA.
    • Handle: RePEc:cem:doctra:317
    as

    Download full text from publisher

    File URL: https://www.ucema.edu.ar/publicaciones/download/documentos/317.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Rodolfo Apreda, 2004. "Differential rates, residual information sets and transactional algebras," CEMA Working Papers: Serie Documentos de Trabajo. 256, Universidad del CEMA.
    2. Rodolfo Apreda, 2003. "THE SEMANTICS OF GOVERNANCE. (The common thread running through corporate, public, and global governance.)," CEMA Working Papers: Serie Documentos de Trabajo. 245, Universidad del CEMA.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Enrique Yacuzzi, 2005. "A primer on governance and performance in small and medium-sized enterprises," CEMA Working Papers: Serie Documentos de Trabajo. 293, Universidad del CEMA.
    2. Rodolfo Apreda, 2007. "How the logic and pragmatics of sinking funds play a part in corporate governance," CEMA Working Papers: Serie Documentos de Trabajo. 351, Universidad del CEMA.
    3. Rodolfo Apreda, 2007. "Stakeholders, transactional environments and conflict systems (mapping on why the founding charter compact becomes the mainstay of corporate governance)," CEMA Working Papers: Serie Documentos de Trabajo. 346, Universidad del CEMA.
    4. Roberto F. Minguillón & Enrique Yacuzzi, 2009. "Design of an indicator for health and safety governance," CEMA Working Papers: Serie Documentos de Trabajo. 399, Universidad del CEMA.
    5. Rodolfo Apreda, 2008. "Who is the ultimate master of contractual, regulatory, discretionary and residual cash flows? An answer from the standpoint of corporate governance," CEMA Working Papers: Serie Documentos de Trabajo. 368, Universidad del CEMA.
    6. Enrique Antonio Yacuzzi & Roberto Fernando Minguillón, 2013. "Simple techniques to enhance the governance of a family business," CEMA Working Papers: Serie Documentos de Trabajo. 517, Universidad del CEMA, revised Sep 2014.
    7. Rodolfo Apreda, 2007. "The rise of corporate governance brokers and how they trade in asymmetric information," CEMA Working Papers: Serie Documentos de Trabajo. 341, Universidad del CEMA.
    8. Rodolfo Apreda, 2008. "A new linkage between corporate and public governance through the lens of incremental cash flows," CEMA Working Papers: Serie Documentos de Trabajo. 374, Universidad del CEMA.
    9. Enrique Yacuzzi, 2008. "A governance indicator for small and medium-sized enterprises," CEMA Working Papers: Serie Documentos de Trabajo. 390, Universidad del CEMA.
    10. Rodolfo Apreda, 2012. "Opaque governance, special purpose vehicles, and the preacher´s waiver," CEMA Working Papers: Serie Documentos de Trabajo. 481, Universidad del CEMA.
    11. Chisari, Omar O. & Ferro, Gustavo, 2009. "Gobierno Corporativo: los problemas, estado actual de la discusión y un ejercicio de medición para Argentina [Corporate Governance: the problems, the current stage of the discussion and a measureme," MPRA Paper 15630, University Library of Munich, Germany.
    12. Rodolfo Apreda, 2008. "Cost of capital adjusted for governance risk through a multiplicative model of expected returns," CEMA Working Papers: Serie Documentos de Trabajo. 383, Universidad del CEMA.
    13. Rodolfo Apreda, 2004. "Enhancing corporate governance with one-and two-tiered convertible preferred stock," CEMA Working Papers: Serie Documentos de Trabajo. 260, Universidad del CEMA.
    14. Rodolfo Apreda, 2005. "Arbitrage in foreign exchange markets within the context of a transactional algebra," CEMA Working Papers: Serie Documentos de Trabajo. 290, Universidad del CEMA.
    15. Rodolfo Apreda, 2004. "Corporate Rent-Seeking and the managerial soft-budget constraint," CEMA Working Papers: Serie Documentos de Trabajo. 283, Universidad del CEMA.

    More about this item

    Keywords

    state-owned banks; portfolios; governance; principle of subsidiarity; separation compact; subsidiarity portfolios;
    All these keywords.

    JEL classification:

    • H10 - Public Economics - - Structure and Scope of Government - - - General
    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • H5 - Public Economics - - National Government Expenditures and Related Policies
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cem:doctra:317. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Valeria Dowding (email available below). General contact details of provider: https://edirc.repec.org/data/cemaaar.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.