RT info:eu-repo/semantics/article
T1 Stakeholder governance and private benefits: The case of politicians in Spanish cajas
A1 Andrés, Pablo de
A1 García Rodríguez, Íñigo
A1 Romero Merino, María Elena
A1 Santamaría Mariscal, Marcos
K1 Stakeholder theory
K1 Spanish cajas
K1 Politicians
K1 Private benefits
K1 Political party identification
K1 Social identity theory
K1 Economía
K1 Economics
K1 Política económica
K1 Economic policy
AB Our research focuses on the private benefits of politicians as board directors of Spanish savings banks (cajas). Weuse hand-collected data on the political affiliation and personal loans of 1,578 directors to investigate whetherpolitical directors used private benefits through excessive personal loans, loans granted to their political parties,or the institutions they represented. Our results show that a higher proportion of political directors on a board isassociated with larger personal loans and with better terms than those granted to non-political directors.Furthermore, this higher proportion is also linked to larger loans granted to the public administrations that thepolitical directors represented on the cajas’ governing board. Finally, we also find in-group favouritism based onthe social identity theory and directors’ party identification. Therefore, political directors make greater use ofprivate benefits when allocated to their political party and its members.
PB Elsevier
SN 0148-2963
YR 2022
FD 2022-05
LK http://hdl.handle.net/10259/7467
UL http://hdl.handle.net/10259/7467
LA eng
NO This study was supported by the Spanish Ministry of Economy and Competitiveness (Grant ECO2017-85356), the UAM - Comunidad de Madrid Research Project for Young Researchers (SI3-PJI-2021-00276) and it benefited from the Professorship Excellence Program in accordance with the multi-year agreement signed by the Government of Madrid and the Autonomous University of Madrid (Line #3). The authors gratefully acknowledge the helpful suggestions received from the four anonymous reviewers and the Associate Editor, Constantinos N. Leonidou. The authors also thank the comments received from B. Arrunada, ˜ G. Natividad, A. Martín-Oliver, V. Salas-Fumas ´ and N. Suarez, ´ and the participants at the Wolpertinger Conference held in Santander and at the SANFI Workshop held in Palermo.
DS Repositorio Institucional de la Universidad de Burgos
RD 20-may-2024