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Corporate social performance and its relation with corporate financial performance: International evidence in the banking industry

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dc.contributor.authorEsteban Sánchez, Pablo
dc.contributor.authorCuesta González, Marta María de la
dc.contributor.authorParedes Gázquez, Juan Diego
dc.date.accessioned2026-02-23T08:35:43Z
dc.date.available2026-02-23T08:35:43Z
dc.date.issued2017-09-20
dc.descriptionThis is the accepted manuscript of the article. The registered version was first published in Journal of Cleaner Production, 162, 1102-1110, is available online at the publisher's website: https://doi.org/10.1016/j.jclepro.2017.06.127https://doi.org/10.1016/j.jclepro.2017.06.127
dc.descriptionEste es el manuscrito aceptado del artículo. La versión registrada fue publicada por primera vez en Journal of Cleaner Production, 162, 1102-1110, está disponible en línea en el sitio web del editor:
dc.description.abstractThe economic and financial crisis that began in 2008 has raised concerns over the impact of Corporate Social Performance (CSP) on Corporate Financial Performance (CFP). The controversies and scandals in regard to the role of banks in the crisis have revealed failures in some CSP dimensions and questioned the CSR policies of banks as a real strategic commitment to the main stakeholders. The financial sector has been one of the hardest hit by the crisis. We study whether banks adopted a strategic approach to CSP and the extent to which this approach attenuated the decrease in CFP during the crisis. To that end, we analyze the effect of four CSP dimensions on the CFP of 154 financial entities in 22 countries, most of them notably affected by the crisis, from 2005 to 2010. The results show that banks with better employee relationships and corporate governance had better CFP. Nevertheless, the crisis negatively moderated this effect in the latter, suggesting failures in corporate governance mechanisms. Contrary to what was expected, the product responsibility dimension did not positively influence CFP. We found evidence that, during the crisis, better relations with the community could be valued positively by investors, which, in turn, increases CFP. The results are relevant for managers and policymakers. We recommend that banks incorporate CSP concerns into their corporate governance mechanisms, review their commitment to customers and attach greater importance to relations with the community. Moreover, regulatory reforms are suggested to clarify the responsibilities of financial institutions in the design and marketing of banking products.en
dc.description.provenanceMade available in DSpace on 2026-02-23T08:35:43Z (GMT). No. of bitstreams: 1 ESTEBAN_SANCHEZ_PABLO_CORPORATE_SOCIAL_PERFOR_PABLO ESTEBAN SANCHEZ.pdf: 639233 bytes, checksum: 85804033e8f3a77035c4fa39e03bb09b (MD5) Previous issue date: 2017-09-20en
dc.description.versionversión final
dc.identifier.citationEsteban Sánchez, P., de la Cuesta-Gonzalez, M., & Paredes-Gazquez, J. D. (2017). Corporate social performance and its relation with corporate financial performance: International evidence in the banking industry. Journal of Cleaner Production, 162, 1102-1110.https://doi.org/10.1016/J.JCLEPRO.2017.06.127
dc.identifier.doihttps://doi.org/10.1016/j.jclepro.2017.06.127
dc.identifier.eissn1879-1786
dc.identifier.issn0959-6526
dc.identifier.urihttps://hdl.handle.net/20.500.14468/31889
dc.journal.titleJournal of Cleaner Production
dc.journal.volume162
dc.language.isoen
dc.page.final1110
dc.page.initial1102
dc.publisherElsevier
dc.relation.centerFacultad de Ciencias Económicas y Empresariales
dc.relation.departmentEconomía Aplicada
dc.rightsinfo:eu-repo/semantics/openAccess
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/deed.es
dc.subject53 Ciencias Económicas
dc.subject.keywordsBankingen
dc.subject.keywordsCrisisen
dc.subject.keywordsCorporate Social Performanceen
dc.subject.keywordsCorporate Financial Performanceen
dc.subject.keywordsCorporate Governanceen
dc.subject.keywordsProduct Responsibilityen
dc.subject.keywordsBusiness and Communityen
dc.titleCorporate social performance and its relation with corporate financial performance: International evidence in the banking industryen
dc.typeartículoes
dc.typejournal articleen
dspace.entity.typePublication
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