Premium
European Banks' Reputation for Corporate Social Responsibility
Author(s) -
Forcadell Francisco Javier,
Aracil Elisa
Publication year - 2017
Publication title -
corporate social responsibility and environmental management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.519
H-Index - 73
eISSN - 1535-3966
pISSN - 1535-3958
DOI - 10.1002/csr.1402
Subject(s) - corporate social responsibility , reputation , business , recession , sustainability , index (typography) , accounting , social responsibility , public relations , economics , political science , world wide web , keynesian economics , law , ecology , computer science , biology
Abstract Dow Jones Sustainability Index (DJSI) members are considered top sustainable companies within each sector. Thus, DJSI inclusion signals a reputation for strong Corporate Social Responsibility (CSR) engagement, which should contribute to enhanced firm performance. This paper examines the performance of the European banks listed in the DJSI for the period 2003–2013 and analyzes the effect of having a reputation for CSR on performance during a period of economic crisis. A vast amount of literature links CSR, reputation and performance, but few studies have examined the banking sector and the impact of the last recession. Our results suggest that banks' efforts to build a reputation for CSR benefits performance. Nevertheless, in periods of crisis, these efforts do not contribute to improved returns. Copyright © 2017 John Wiley & Sons, Ltd and ERP Environment