From Financial to Managerial Capitalism. The slow adaptation of Spanish corporate elite

Juan A. Rubio Mondéjar (), Jósean Garrués Irurzun () and Luis Chirosa ()
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Juan A. Rubio Mondéjar: Department of Economics, Quantitative Methods and Economic History, University Pablo de Olavide.
Jósean Garrués Irurzun: Department of Economic Theory and Economic History, University of Granada.
Luis Chirosa: Department of Economic Theory and Economic History, University of Granada.
Authors registered in the RePEc Author Service: Josean Garrues-Irurzun and Juan Antonio Rubio-Mondéjar ()

No 18/05, ThE Papers from Department of Economic Theory and Economic History of the University of Granada.

Abstract: In the last century, Spanish society and economy have endured considerable social and economic transformations which have also affected the corporate elite. Has the professionalization of managers of large companies broke away from old practices of crony capitalism? We have analysed the profiles of managers and executives of the biggest limited liability companies in Spain from 1917 to present day in order to answer this question. Prosoprographic method applied to different social capital fields of managers allows for a better understanding of how the Spanish corporate elite evolved. The latter entails an increase of managerial skills, through training and cosmopolitan capital; nonetheless, progress in managerial capitalism has not put an end to typical aspects of crony capitalism, which was attributed to most of the twentieth century and the new business elite has uplifted a new “entrenchment” in the last decades to put their interests before those of the country as a whole.

Keywords: business elite; crony capitalism; Spain; social capital. (search for similar items in EconPapers)
JEL-codes: H10 L40 N24 P12 (search for similar items in EconPapers)
Pages: 40 pages
Date: 2018-10-02
New Economics Papers: this item is included in nep-his
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Persistent link: https://EconPapers.repec.org/RePEc:gra:wpaper:18/05

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