<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>2448-718X</journal-id>
<journal-title><![CDATA[El trimestre económico]]></journal-title>
<abbrev-journal-title><![CDATA[El trimestre econ]]></abbrev-journal-title>
<issn>2448-718X</issn>
<publisher>
<publisher-name><![CDATA[Fondo de Cultura Económica]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S2448-718X2011000100235</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Cambios en productividad y creación de valor social en las cajas de ahorros españolas]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Guzmán]]></surname>
<given-names><![CDATA[Isidoro]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Escobar]]></surname>
<given-names><![CDATA[Bernabé]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Politécnica de Cartagena  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Spain</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad de Sevilla  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Spain</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>03</month>
<year>2011</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>03</month>
<year>2011</year>
</pub-date>
<volume>78</volume>
<numero>309</numero>
<fpage>235</fpage>
<lpage>253</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S2448-718X2011000100235&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S2448-718X2011000100235&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S2448-718X2011000100235&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen El rendimiento del sector financiero español ha sido objeto de diversos estudios a lo largo del decenio de los novena del siglo XX como consecuencia de los importantes cambios a los que ha estado sometido. Las cajas de ahorros españolas no han sido ajenas a este tipo de estudios, si bien circunscritos de manera exclusiva al examen de su eficiencia y productividad, relegando a un segundo plano el análisis del cumplimiento de su fin social, materializado económicamente en el gasto anual destinado a obra social. En este contexto, la principal aportación de nuestro estudio es la obtención de evidencia empírica de la existencia de una relación de causalidad entre la creación de valor social de las cajas de ahorro españolas, medida por medio del establecimiento de un ratio de gasto social, y sus cambios en productividad, cuantificados mediante el cálculo del índice de productividad de Malmquist basado en el trazado de fronteras eficientes a partir de la técnica no paramétrica del análisis envolvente de datos (AED) (Data Envelopment Analysis, DEA). Para el censo de cajas de ahorro españolas en el periodo 2003-2007, nuestros resultados revelan que las entidades que presentan mayor productividad alcanzan cotas superiores en el ratio de gasto social, incluso después de controlar por medidas tradicionales como la rentabilidad económica y el tamaño.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract The performance of the Spanish financial sector was the subject of numerous studies throughout the 1990s as a consequence of the important changes the sector underwent. Spanish savings banks have been included in such studies, although in their case these have been limited exclusively to examining their levels of efficiency and productivity, with the analysis of their fulfilment of their social aims being relegated to the background, appearing economically in the annual expenditure dedicated to social work. In this context, the principal contribution of the present work is the establishment of a causality relationship between the creation of social value of Spanish savings banks, measured by means of the establishing of a ratio of social spending, and their changes in productivity. The measure of the latter was quantified by calculating the Malmquist productivity index based on the drawing up of efficiency frontiers from the non-parametric technique of Data Envelopment Analysis (DEA). For a sample of Spanish savings banks for the period 2003 to 2007, our results reveal that those entities with greater levels of productivity reach greater quotas in their ratio of social spending, even after controlling for the impact of traditional measures such as the returns on assets ratio and the size.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[cajas de ahorros]]></kwd>
<kwd lng="es"><![CDATA[valor social]]></kwd>
<kwd lng="es"><![CDATA[productividad]]></kwd>
<kwd lng="es"><![CDATA[índice de Malmquist]]></kwd>
<kwd lng="es"><![CDATA[análisis envolvente de datos (AED)]]></kwd>
</kwd-group>
</article-meta>
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