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Public Administration as Stakeholders in Spanish Savings Banks

In: Shareholder Value Management in Banks

Author

Listed:
  • Juan Antonio Maroto Acín

    (University of Valladolid)

  • Mónica Melle Hernández

    (Complutense University of Madrid)

Abstract

The corporate governance mechanism operates in a different way in credit institutions (banks) than it does in non-financial enterprises. The agency problem inherent in the relationship between shareholders and bank management is influenced by the moral hazard affecting the managers, which is even more marked by the deposit insurance schemes. In addition, money deposit institutions (in the terminology of Banco de Espana) are subjected to many regulations that affect their efficiency in the allocation of resources to the real system and their ability to implement the monetary policy of the central bank. In spite of the continuous and general deregulation of financial services in many developed countries, policy-makers have kept their role as effective monitors of deposit banks. Policy-makers decide the optimal way to organize the banking system through regulations to make sure that banks are managed efficiently — examples are those regulations fixing the timing and form of banks’ statements and assessing risk positions and provisions. Regulation is an effective safeguard of the shareholders’ and depositors’ interests, as well as of those of the financial system. However, regulation can produce an inefficient allocation of resources when regulators can benefit from them.

Suggested Citation

  • Juan Antonio Maroto Acín & Mónica Melle Hernández, 2000. "Public Administration as Stakeholders in Spanish Savings Banks," Palgrave Macmillan Books, in: Leo Schuster (ed.), Shareholder Value Management in Banks, chapter 7, pages 113-133, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-0-333-98174-0_7
    DOI: 10.1057/9780333981740_7
    as

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    Cited by:

    1. Karima Bouaiss & Christine Marsal, 2009. "Les mécanismes internes de gouvernance dans les banques:un état de l'art," Revue Finance Contrôle Stratégie, revues.org, vol. 12(1), pages 93-126, March.

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