The good, the bad and the ugly: the fall and resolution of Banco Espírito Santo

Detalhes bibliográficos
Autor(a) principal: Morais, Luís Pedro Rodrigues Teles de Belo
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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spelling 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
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dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/15347
TID:201476797
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