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This study empirically analyzes how corporate social responsibility contributes to creating value in banks in turbulent times, offering a comparative analysis of Central and Eastern European countries. It examines the role of corporate social responsibility in the relationship between banks and shareholders, depositors, and customers. The results emphasize the effectiveness and limits of using corporate social responsibility to create value in relationships with stakeholders during the 2008 financial crisis. The effects of the different types of corporate socially responsible actions – social, environmental, or community-focused – are analyzed separately for banks with high social performance.

Corporate Social Responsibility in Banks in Turbulent Times and Particularities in Central and Eastern European Countries