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Title: The governance structure of Portuguese and Spanish credit cooperatives: differences and similarities
Author: Cabo, Paula
Mélian, Amparo
Rebelo, João
Keywords: Governance
Credit cooperatives
Property rights
Issue Date: 2009
Publisher: Virtus Interpress
Citation: Cabo, Paula; Mélian, Amparo; Rebelo, Joao (2009) - The governance structure of Portuguese and Spanish credit cooperatives: differences and similarities. Corporate Ownership & Control. ISSN 1727-9232. 6:3, p. 318-327
Abstract: The literature recognizes that credit cooperatives are the “appropriate technology” for relatively backward economies, but should fade away or disappear altogether as economic development proceeds. However, surprisingly, they are among the fastest growing groups of financial institutions in some advanced economies. Though the credit cooperatives in Portugal and Spain present relatively small market shares, they perform a very important role in the rural economy. Over the last decades, the Iberian credit cooperatives have adopted a process of economic and financial restructuring, through an intensive wave of mergers and the creation of banking networks: Caja Rural Group, in Spain, and Crédito Agrícola Group, in Portugal. Despite that common path, the Iberian reality is still very different. In this paper we describe the historical roots of Portuguese and Spanish cooperative credit, focusing our analysis on the governance structure, especially on the issues arising from the strict application of traditional cooperative rules.
Peer review: yes
ISSN: 1727-9232
Publisher Version:
Appears in Collections:CSE - Artigos em Revistas Não Indexados ao ISI/Scopus

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Volume 6 issue 3 Resumo.pdf1,59 MBAdobe PDFView/Open

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