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Main Factors for Understanding High Impacts on CSR Dimensions in the Finance Industry

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Lopez, Belen and Torres Marín, Alfonso Jesús and Ruozzi López, Alberto and Vicente, Jose Antonio (2020) Main Factors for Understanding High Impacts on CSR Dimensions in the Finance Industry. Sustainability, 12 (6). p. 2395. ISSN 2071-1050

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Official URL: https://doi.org/10.3390/su12062395




Abstract

The objective of this study is to explore empirically the dimensions that generate high impact in the finance industry to better understand its contribution from a Corporate Social Responsibility (CSR) perspective. We analyze data concerning impacts of finance sector firms certified by B Corp in order to identify the combinations that are necessary and/or sufficient to obtain a recognition of their high impact generation. The methodology followed to identify the impact dimensions is fsQCA, (fuzzy set Qualitative Comparative Analysis), a qualitative comparative analysis method applied to a sample of finance firms (n-181). The results indicate that financial sector firms exhibited four combinations focusing on different impact dimensions. Specifically, the first route indicates that a high degree of focus on customers and communities is sufficient to obtain a high impact score. The second path signals that the combination of the impacts on customers and corporate governance could lead to the same result, while in the third pathway the focus would be on the employees. Finally, the fourth route indicates that some financial firms focus strongly on their communities, corporate governance and their employees, but very weakly on the environmental dimension. Consequently, diverse combinations of CSR dimensions characterize financial sector contributions to impact generation and sustainable development.


Item Type:Article
Uncontrolled Keywords:CSR; Impacts; B-Corp; Finance sector; Qualitative comparative analysis (QCA)
Subjects:Social sciences > Economics > Industrial management
Social sciences > Economics > Finance
ID Code:63235
Deposited On:17 Dec 2020 09:52
Last Modified:17 Dec 2020 09:52

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