The good, the bad and the ugly: the fall and resolution of Banco Espírito Santo
Autor(a) principal: | |
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Data de Publicação: | 2015 |
Tipo de documento: | Dissertação |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10362/15347 |
Resumo: | This case study – and accompanying teaching note – briefly describes the history of the Espírito Santo family, a banking dynasty who led one of Portugal’s leading economic and financial groups, along with its “crown jewel”, Banco Espírito Santo. It chronicles how the corporate governance issues at BES allowed the family to exploit the bank, its shareholders and its customers, so as to support its unprofitable non-financial businesses. This left the bank in a poor financial situation, which deteriorated beyond control, leaving regulators – whose actions are also analysed here – with no alternative, amidst a severe liquidity crisis, but to apply a resolution measure, pinning large losses on junior bondholders and shareholders before recapitalising the bank. |
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The good, the bad and the ugly: the fall and resolution of Banco Espírito SantoCorporate governanceBank regulationBank resolutionThis case study – and accompanying teaching note – briefly describes the history of the Espírito Santo family, a banking dynasty who led one of Portugal’s leading economic and financial groups, along with its “crown jewel”, Banco Espírito Santo. It chronicles how the corporate governance issues at BES allowed the family to exploit the bank, its shareholders and its customers, so as to support its unprofitable non-financial businesses. This left the bank in a poor financial situation, which deteriorated beyond control, leaving regulators – whose actions are also analysed here – with no alternative, amidst a severe liquidity crisis, but to apply a resolution measure, pinning large losses on junior bondholders and shareholders before recapitalising the bank.UNL - NSBEPinho, PauloRUNMorais, Luís Pedro Rodrigues Teles de Belo2015-08-25T09:54:52Z2015-012015-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/15347TID:201476797enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T03:51:15Zoai:run.unl.pt:10362/15347Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:22:27.929081Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
The good, the bad and the ugly: the fall and resolution of Banco Espírito Santo |
title |
The good, the bad and the ugly: the fall and resolution of Banco Espírito Santo |
spellingShingle |
The good, the bad and the ugly: the fall and resolution of Banco Espírito Santo Morais, Luís Pedro Rodrigues Teles de Belo Corporate governance Bank regulation Bank resolution |
title_short |
The good, the bad and the ugly: the fall and resolution of Banco Espírito Santo |
title_full |
The good, the bad and the ugly: the fall and resolution of Banco Espírito Santo |
title_fullStr |
The good, the bad and the ugly: the fall and resolution of Banco Espírito Santo |
title_full_unstemmed |
The good, the bad and the ugly: the fall and resolution of Banco Espírito Santo |
title_sort |
The good, the bad and the ugly: the fall and resolution of Banco Espírito Santo |
author |
Morais, Luís Pedro Rodrigues Teles de Belo |
author_facet |
Morais, Luís Pedro Rodrigues Teles de Belo |
author_role |
author |
dc.contributor.none.fl_str_mv |
Pinho, Paulo RUN |
dc.contributor.author.fl_str_mv |
Morais, Luís Pedro Rodrigues Teles de Belo |
dc.subject.por.fl_str_mv |
Corporate governance Bank regulation Bank resolution |
topic |
Corporate governance Bank regulation Bank resolution |
description |
This case study – and accompanying teaching note – briefly describes the history of the Espírito Santo family, a banking dynasty who led one of Portugal’s leading economic and financial groups, along with its “crown jewel”, Banco Espírito Santo. It chronicles how the corporate governance issues at BES allowed the family to exploit the bank, its shareholders and its customers, so as to support its unprofitable non-financial businesses. This left the bank in a poor financial situation, which deteriorated beyond control, leaving regulators – whose actions are also analysed here – with no alternative, amidst a severe liquidity crisis, but to apply a resolution measure, pinning large losses on junior bondholders and shareholders before recapitalising the bank. |
publishDate |
2015 |
dc.date.none.fl_str_mv |
2015-08-25T09:54:52Z 2015-01 2015-01-01T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10362/15347 TID:201476797 |
url |
http://hdl.handle.net/10362/15347 |
identifier_str_mv |
TID:201476797 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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1799137863858651136 |