An Empirical Evaluation of The Environmental Responsibility in the Spanish Savings Banks

The growing importance of the environmental and social policies in the Spanish savings banks and the large differences between them, take us to delve into those factors that influence on the amounts spent on environment and welfare fund.In this line, we have analyzed all the Spanish Savings Banks, over the period 2004-2008 and using the methodology of panel data, the effect that the composition of the Board of Directors and the Supervisory Committee has on the percentage of income spent on Environment and Welfare Fund. Specifically, such as variables of Board´ composition, we used the presence of women and the existence of a political representative.In view of the results obtained, we can draw as general conclusions that the amount of the Welfare Fund that is spent on Environment depends positively on the presence of women in the Board of Directors, while the variable that have a big positive influence on the Welfare Fund is the existence of a political representative in the Board.