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The impact of corporate social responsibility on corporate financial performance in the banking industry
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Orientador(es)
Resumo(s)
The present research aims to investigate the direct impact of CSR, both overall and dimension
wise, on banks’ financial performance. While KLD ratings were used to operationalize CSR
through overall and dimensional variables (environment, community, human rights, employee
relations, diversity, product and governance); ROA and Tobin’s Q ratio were selected to
measure CFP.
A sample of 96 U.S. banks was drawn and analysed through correlations and OLS regressions.
Results support CSR as a multidimensional concept, showing that richer insights were
generally collected when banks’ CSR performance was considered at a dimensional level. In
particular, this study suggests that: (i) statistical significance is rarely obtained when banks’
overall CSR performance is considered; (ii) banks’ CSR dimensions have differently changed
after the 2008 financial crisis; (iii) individual dimensions of banks’ CSR have distinct impacts
on CFP; (iv) the direct impact of banks’ CSR performance on their CFP has remained
unchanged after the 2008 financial crisis; and (v) banks’ size and their geographical scope of
activity moderate the impact of specific CSR dimensions on CFP.
Descrição
Palavras-chave
Corporate social performance Corporate financial performance Banking CSR dimensions 2008 financial crisis