Corporate Social Responsibility and Full Disclosure: Relationship to Financial Performance of Commercial Bank

DOI

10.2991/aebmr.k.200127.098How to use a DOI?

Keywords

corporate social responsibility, disclosure, corporate social performance, financial performance, credit institution, compliance

Abstract

The purpose of this paper is to examine whether the practice of Corporate Social Responsibility (CSR) in the Philippines is going beyond philanthropy and public relations. This will obtain a snapshot of how companies practice what they preach about doing good. It will further examine how CSR disclosure positively increases brand recognition while promoting sustainable relationships among their partners, customers, and key stakeholders, including the government. Therefore, this study aimed to determine the relationship between CSR and full disclosure of the financial performance of commercial banks in Valenzuela City. It was concluded that most of these commercial banks are disclosing their CSR practices in four sub-dimensions, namely, environment and energy, human resources, products and customers, and community involvement. Firms appear to disclose CSR information to increase competitiveness rather than reduce the potential impact of additional regulation, taxes, and other activities that may negatively affect the firm’s value. Furthermore, all of the commercial banks in Valenzuela City agreed that their CSR is affected by these types of stakeholders (customers/clients, international partners, and regulatory agencies); and they all viewed these factors on the same level. Finally, the study recommends that commercial banks in Valenzuela City must continue to comply with additional requirements of the law for social responsibility and continously monitor the perception of banks’ customers toward banking corporate social responsibility and build up positive linkage with them. Commercial banks in Valenzuela City may engage themselves more in social and charitable activities geared towards benefitting the people around them and observe the application of CSR in the management system of banks to improve their transactions among their clients and employees further.

Copyright

© 2020, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - R.F. Dimaala
PY  - 2020
DA  - 2020/01/31
TI  - Corporate Social Responsibility and Full Disclosure: Relationship to Financial Performance of Commercial Bank
BT  - Proceedings of the 17 th International Symposium on Management (INSYMA 2020)
PB  - Atlantis Press
SP  - 489
EP  - 494
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.200127.098
DO  - 10.2991/aebmr.k.200127.098
ID  - Dimaala2020
ER  -