IESE Research Papers,
IESE Business School

Abstract: When Caja de Pensiones para la Vejez y de Ahorros, 'la Caixa', was created in 1905, it was not just a transient response to a serious social, political, and economic problem; it also provided a permanent solution by creating a long-lasting social welfare institution. In addition, its founder understood the responsibility of social welfare institutions not as an isolated responsibility for each institution, but as part of a harmonious whole that is a true moral entity, with a socio-economic character, independence and unity of nature, purpose and form. The purpose of this article is to show how the conception of corporate social responsibility of Francesc Moragas, the founder of 'la Caixa,' informed the activities of the new institution in a variety of dimensions, including its service to its customers, its economic strengths, its social welfare work and its participation in the creation of Spain's public social security system.

Keywords: savings bank; corporate social responsibility; social security; welfare state

19 pages, November 3, 2009

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