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Public corporate governance of state-owned enterprises: evidence from the Spanish banking industry
2012
Public Money & Management
Preserved Fulltext
We examine the role of public corporate governance in the restructuring of the Spanish financial sector. State-owned savings banks or Cajas provide evidence of the conflict of interest in multilevel governance. We find that choice of the integration mechanism (merger, IPS or acquisition) can be explained by two drivers: geographical and political proximity.
doi:10.1080/09540962.2012.691305
fatcat:nw43ybv3w5fb3ob4zlrsoonxci