Social Activity in Spanish Banking Foundations: Governance Dynamics

Carlos Rubio Nieto (), José Luis Fernández Fernández and José Manuel Rodríguez Carrasco
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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

Social Sciences, 2025, vol. 14, issue 3, 1-30

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.

Keywords: banking foundations; nonprofit organizations governance; board composition; social work (search for similar items in EconPapers)
JEL-codes: A B N P Y80 Z00 (search for similar items in EconPapers)
Date: 2025
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