skip to content
The fall of Banco Espírito Santo : Holy Spirit or devil in disguise? Preview this item
ClosePreview this item
Checking...

The fall of Banco Espírito Santo : Holy Spirit or devil in disguise?

Author: James B Shein; Jason P Hawbecker
Publisher: London : Kellogg School of Management, 2016.
Series: SAGE Knowledge., Cases.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
In 2014, after nearly 150 years as one of Portugal's most wealthy and powerful families, the Espírito Santo family completely lost control of its empire, which included Banco Espírito Santo, Portugal's largest bank by market capitalization and second-largest private-sector bank in terms of assets, along with stakes in numerous financial, non-financial, privately held, and publicly traded companies. During the  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

Subjects
More like this

Find a copy online

Links to this item

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Named Person: Espirito Santo family.; Ricardo Espirito Santo Silva
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: James B Shein; Jason P Hawbecker
ISBN: 9781526428899 152642889X
OCLC Number: 1023530793
Notes: Originally published in Shein, J. B., & Hawbecker, J. P. (2016). The Fall of Banco Espírito Santo: Holy Spirit or Devil in Disguise? 5-116-004. Evanston, IL: Kellogg School of Management, Northwestern University.
Description: 1 online resource : illustrations.
Series Title: SAGE Knowledge., Cases.
Responsibility: James B. Shein, Jason P. Hawbecker.

Abstract:

In 2014, after nearly 150 years as one of Portugal's most wealthy and powerful families, the Espírito Santo family completely lost control of its empire, which included Banco Espírito Santo, Portugal's largest bank by market capitalization and second-largest private-sector bank in terms of assets, along with stakes in numerous financial, non-financial, privately held, and publicly traded companies. During the European financial crisis of 2010 to 2014, many of the family's companies required capital investment. To avoid family equity dilution, the family's patriarch, Ricardo Espírito Santo Silva Salgado, engaged in a creative money-go-round structure whereby Banco Espírito Santo would legally raise short-term commercial paper with high interest rates and sell them to third parties that were partially owned by the Espírito Santo family. These third parties then would sell that paper back to the bank's retail clients as safe investments similar to Portuguese deposits. The plan failed, and the house of cards that was the Espírito Santo empire collapsed. Students will consider whether Salgado and the board of Banco Espírito Santo acted appropriately or if they failed their fiduciary duties to the non-family shareholders of the bank.

Reviews

User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.
Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


Primary Entity

<http://www.worldcat.org/oclc/1023530793> # The fall of Banco Espírito Santo : Holy Spirit or devil in disguise?
    a schema:Book, schema:CreativeWork, schema:MediaObject ;
    library:oclcnum "1023530793" ;
    library:placeOfPublication <http://id.loc.gov/vocabulary/countries/enk> ;
    schema:about <http://experiment.worldcat.org/entity/work/data/5062015855#Person/silva_ricardo_espirito_santo> ; # Ricardo Espirito Santo Silva
    schema:about <http://experiment.worldcat.org/entity/work/data/5062015855#Event/1900_1999> ; # 1900-1999
    schema:about <http://dewey.info/class/330.941/e23/> ;
    schema:about <http://experiment.worldcat.org/entity/work/data/5062015855#Person/espirito_santo_family> ; # Espirito Santo family.
    schema:about <http://experiment.worldcat.org/entity/work/data/5062015855#Place/great_britain> ; # Great Britain.
    schema:about <http://experiment.worldcat.org/entity/work/data/5062015855#Topic/financial_crises> ; # Financial crises
    schema:about <http://experiment.worldcat.org/entity/work/data/5062015855#Organization/banco_espirito_santo_1999_2014> ; # Banco Espírito Santo (1999-2014)
    schema:about <http://experiment.worldcat.org/entity/work/data/5062015855#Topic/financial_crises_great_britain_20th_century> ; # Financial crises--Great Britain--20th century
    schema:author <http://experiment.worldcat.org/entity/work/data/5062015855#Person/shein_james_b> ; # James B. Shein
    schema:author <http://experiment.worldcat.org/entity/work/data/5062015855#Person/hawbecker_jason_p> ; # Jason P. Hawbecker
    schema:bookFormat schema:EBook ;
    schema:datePublished "2016" ;
    schema:description "In 2014, after nearly 150 years as one of Portugal's most wealthy and powerful families, the Espírito Santo family completely lost control of its empire, which included Banco Espírito Santo, Portugal's largest bank by market capitalization and second-largest private-sector bank in terms of assets, along with stakes in numerous financial, non-financial, privately held, and publicly traded companies. During the European financial crisis of 2010 to 2014, many of the family's companies required capital investment. To avoid family equity dilution, the family's patriarch, Ricardo Espírito Santo Silva Salgado, engaged in a creative money-go-round structure whereby Banco Espírito Santo would legally raise short-term commercial paper with high interest rates and sell them to third parties that were partially owned by the Espírito Santo family. These third parties then would sell that paper back to the bank's retail clients as safe investments similar to Portuguese deposits. The plan failed, and the house of cards that was the Espírito Santo empire collapsed. Students will consider whether Salgado and the board of Banco Espírito Santo acted appropriately or if they failed their fiduciary duties to the non-family shareholders of the bank."@en ;
    schema:exampleOfWork <http://worldcat.org/entity/work/id/5062015855> ;
    schema:inLanguage "en" ;
    schema:isPartOf <http://experiment.worldcat.org/entity/work/data/5062015855#Series/sage_knowledge_cases> ; # SAGE Knowledge. Cases
    schema:isPartOf <http://experiment.worldcat.org/entity/work/data/5062015855#Series/sage_knowledge> ; # SAGE Knowledge.
    schema:name "The fall of Banco Espírito Santo : Holy Spirit or devil in disguise?"@en ;
    schema:productID "1023530793" ;
    schema:url <http://sk.sagepub.com/cases/the-fall-of-banco-espirito-santo-holy-spirit-or-devil-in-disguise> ;
    schema:workExample <http://worldcat.org/isbn/9781526428899> ;
    wdrs:describedby <http://www.worldcat.org/title/-/oclc/1023530793> ;
    .


Related Entities

<http://experiment.worldcat.org/entity/work/data/5062015855#Organization/banco_espirito_santo_1999_2014> # Banco Espírito Santo (1999-2014)
    a schema:Organization ;
    schema:name "Banco Espírito Santo (1999-2014)" ;
    .

<http://experiment.worldcat.org/entity/work/data/5062015855#Person/espirito_santo_family> # Espirito Santo family.
    a schema:Person ;
    schema:name "Espirito Santo family." ;
    .

<http://experiment.worldcat.org/entity/work/data/5062015855#Person/hawbecker_jason_p> # Jason P. Hawbecker
    a schema:Person ;
    schema:familyName "Hawbecker" ;
    schema:givenName "Jason P." ;
    schema:name "Jason P. Hawbecker" ;
    .

<http://experiment.worldcat.org/entity/work/data/5062015855#Person/shein_james_b> # James B. Shein
    a schema:Person ;
    schema:familyName "Shein" ;
    schema:givenName "James B." ;
    schema:name "James B. Shein" ;
    .

<http://experiment.worldcat.org/entity/work/data/5062015855#Person/silva_ricardo_espirito_santo> # Ricardo Espirito Santo Silva
    a schema:Person ;
    schema:familyName "Silva" ;
    schema:givenName "Ricardo Espirito Santo" ;
    schema:name "Ricardo Espirito Santo Silva" ;
    .

<http://experiment.worldcat.org/entity/work/data/5062015855#Place/great_britain> # Great Britain.
    a schema:Place ;
    schema:name "Great Britain." ;
    .

<http://experiment.worldcat.org/entity/work/data/5062015855#Series/sage_knowledge> # SAGE Knowledge.
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/1023530793> ; # The fall of Banco Espírito Santo : Holy Spirit or devil in disguise?
    schema:name "SAGE Knowledge." ;
    .

<http://experiment.worldcat.org/entity/work/data/5062015855#Series/sage_knowledge_cases> # SAGE Knowledge. Cases
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/1023530793> ; # The fall of Banco Espírito Santo : Holy Spirit or devil in disguise?
    schema:name "SAGE Knowledge. Cases" ;
    .

<http://experiment.worldcat.org/entity/work/data/5062015855#Topic/financial_crises_great_britain_20th_century> # Financial crises--Great Britain--20th century
    a schema:Intangible ;
    schema:name "Financial crises--Great Britain--20th century"@en ;
    .

<http://worldcat.org/isbn/9781526428899>
    a schema:ProductModel ;
    schema:isbn "152642889X" ;
    schema:isbn "9781526428899" ;
    .


Content-negotiable representations

Close Window

Please sign in to WorldCat 

Don't have an account? You can easily create a free account.