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Relationship among CSR Initiatives and Financial and Non-Financial Corporate Performance in the Ecuadorian Banking Environment

Title
Relationship among CSR Initiatives and Financial and Non-Financial Corporate Performance in the Ecuadorian Banking Environment
Author
이창원
Keywords
Corporate social responsibility; corporate performance; Ecuadorian banking environment; financial corporate performance; non-financial corporate performance
Issue Date
2020-02
Publisher
MDPI
Citation
SUSTAINABILITY, v. 12, no. 4, article no. 1621
Abstract
This study explores the relationship between corporate performance and corporate social responsibility (CSR) initiatives in the Ecuadorian banking environment. The first model employs both return on assets and return on equity as proxy for the financial performance while the second model includes the non-financial corporate performance constructs collected by a self-designed online questionnaire. We found a statistically positive relationship among CSR initiates and the financial and non-financial indicators in corporate performance. Our findings revealed that economic, legal, ethical, and philanthropic responsibility initiatives positively affect the non-financial corporate performance of the Ecuadorian banking environment. Similarly, the non-financial corporate performance is significantly positively influenced by the customer's brand trust, customer's brand loyalty, customer's perception of quality, and customer satisfaction. Study results are mostly consistent with the banking environment of other countries, especially in Bangladesh, Pakistan, and Lebanon. Customers of the Ecuadorian banking environment perceived banks as socially responsible entities and Ecuadorian banks invest resources in CSR activities as a corporate governance policy to increase their financial and non-financial performance. Future research should include a corporate governance index with a CSR component as an independent variable to increase statistical models' power.
URI
https://www.mdpi.com/2071-1050/12/4/1621https://repository.hanyang.ac.kr/handle/20.500.11754/161270
ISSN
2071-1050
DOI
10.3390/su12041621
Appears in Collections:
GRADUATE SCHOOL OF BUSINESS[S](경영전문대학원) > BUSINESS ADMINISTRATION(경영학과) > Articles
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