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The trend towards social responsibility in recent years has increased the interest of consumers in their consumption as well as purchase behavior. Given the growing importance of social responsibility in the retail banking industry, in Malaysia, it remains imperative for the banking industry to understand the social responsibility as the determinan...
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... proposing and subsequently testing the structural relationships among the five constructs, this study is intended to achieve the following research objectives: (1) to examine the perception of customers in terms of customer centric, green environment, ethical and philanthropy of the financial system, (2) to examine the impact of customer centric, green environment, ethical and philanthropy on loyalty, (3) to identify the variable that has the strongest effect on loyalty. Figure 1 depicts the proposed hypothetical causal model for the current study. These variables are recognized as factors of CSR that have been widely studied (e.g. ...
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Citations
... Likewise, past research has found that putting a considerable amount of money into corporate charitable endeavours reflects the consumers' belief that the company is making conscious efforts to improve consumer welfare, resulting in increased consumer loyalty (Park et al., 2016). Yusof et al. (2015) found that philanthropic CSR activities undertaken by corporates have a significant positive impact on customer loyalty in the context of retail banking industry in Malaysia. Prior research suggests that the company's relationship with its consumers will be reinforced thus, resulting in enhancement of the consumers' behavioural loyalty (Luo, 2005). ...
India has become one of the world's largest gaming destinations, and in the last few years, the rapid rise of online gaming has led to the domination of fantasy sports gaming platforms. Very little is understood about how users on fantasy sports gaming platforms perceive and approach giving and what essentially matters to users before selecting or engaging with such fantasy sports gaming platforms. This study aims to predict user loyalty and repeat intention to donate towards fantasy sports gaming platforms by examining philanthropic actions, well‐being (WB) and flow experience (FE). A large‐scale research study on 2091 samples was undertaken by adopting three‐fold SEM‐ANN‐NCA (structural equation modeling‐artificial neural network‐necessary condition analysis) for establishing and empirically testing a comprehensive model by integrating philanthropic actions, WB and FE to predict user loyalty and repeat intention to donate towards online fantasy sports gaming platforms. The findings add depth to our understanding of philanthropic actions linked to fantasy sports gaming platforms and users' loyalty and donation intentions towards such platforms. The results of ANN indicated the normalized importance of the predictors of user loyalty and found that philanthropic action was the strongest predictor. Likewise, philanthropic actions, WB, and FE were necessary conditions (must‐have) to determine user loyalty during NCA. The findings would provide invaluable intelligence to fantasy gaming companies to oversee critical philanthropic decisions proficiently. In addition, the results would provide valuable insights to decision‐makers in philanthropic foundations and other entities, such as practitioners and online fantasy gaming companies, to devise effective marketing strategies to gauge user loyalty and shape donation intentions.
... First, Tascioglu et al. (2019) found that retailers that support environmental and social sustainability could expect increases in consumer purchase intentions, commitment, satisfaction, and loyalty and that social sustainability exerts a slightly greater impact than does environmental sustainability. Then, Yusof et al. (2015) showed that while different CSR initiatives, including customer-centric and green environment, have a significant positive influence on customer loyalty in the banking industry, customer-centric has the strongest effect on consumer loyalty. These results corroborate those obtained by other researchers. ...
... Claims also have an impact via the perceived CSR of the brand or via the attitude toward the stores (for the claim related to the presence of ingredients of natural origin). Hypothesis 6 is therefore validated by our data, confirming previous work showing that consumer-centric claims had a greater impact on attitudinal and behavioural variables than environmental-centric claims (McDonald and Lai, 2011;Yusof et al., 2015). ...
Purpose
Consumers consider retailers' standard private labels (PLs) as relevant choices, compared to national brands (NBs), and their demand for private label products has increased significantly over the past decade. At the same time, PLs have undergone a profound transformation as retailers have enhanced their quality. The goal of this research is to investigate the impact of claims used to highlight the enhanced quality of standard PL products on consumers' perceptions and behaviours.
Design/methodology/approach
A between-subjects experiment, set in a store laboratory, was used to study consumers' perceptions and behaviours. The impact of six non-nutrition claims – linked, according to the self-other trade-off, either to concern for consumers' health (internal to the self) or for the environment (external to the self) – on consumers' reactions has been studied. Then, the data collected were analysed with partial least squares structural equation modelling (PLS-SEM).
Findings
This research indicates that health claims retailers make to echo consumers' own concerns have positive impacts at three basic levels: the brand, the retail chain and the store. It also highlights the central role of trust in standard PLs, which, once activated by the non-nutrition claims made by retailers and the increase in the quality of standard PLs thus inferred by consumers, can improve consumers' attitude toward the food retailers' stores and reinforce their intentions to visit again and recommend them.
Research limitations/implications
From a theoretical perspective, this research supplements cue utilisation theory as it applies this framework to standard PLs and establishes that consumers use extrinsic cues (i.e. communications on non-nutrition claims) to infer the quality of standard PL brand products. It also complements scant studies on retailers' corporate social responsibility (CSR) with quality aspects of their own labels as it specifies the levers (i.e. the claims) to use to improve retailers' CSR image and consumers' behaviours.
Practical implications
From a managerial perspective, this research highlights the superiority of retailers' claims related to consumer health and, more specifically, of claims highlighting the natural origin of ingredients. For this specific assertion, trust in the standard PL and the CSR image of the brand have direct and indirect impacts, via attitude toward the stores, on consumers' intentions to return to and to recommend these stores.
Originality/value
Despite the increasing importance of products as effective tools for communicating companies' CSR policies, scant research has been conducted on consumers' reactions to non-nutrition claims, which are increasingly prominent in the marketplace.
... Income sustainability is a strong concern for the future; companies aware of economic, environmental, and social responsibility will be able to maintain their sustainability [36] as it is known that CSR is an important factor in the success of the business competition [29,37]. [28] suggest that customer-centered CSR initiatives have a stronger effect on customer attitudes and behavior towards banks than philanthropic and environmental initiatives. ...
... A customer-centered company strategy will be better able to maintain its business [45]. [37,2] found that customer-centricity has the greatest effect on the retail banking industry in Malaysia [33] approach assumes that all CSR (Corporate Social Responsibility) strategies of companies should be centered on customer satisfaction. As is known, Islamic banks are established to fulfill sharia law so that Islamic banks will prioritize sharia compliance over customer satisfaction [33] introduced the concept of Customer centric CSR within the scope of Islamic ethics. ...
... Two dimensions have been investigated: "My confidence in the banking system has increased due to the way banks behaved during the COVID-19 pandemic" (Trust); and "My bank's reaction during the COVID-19 pandemic is an important factor in my decision to remain its client" (CSRpandemicsLoyalty). Although in the case of banks' employees both dimensions increased, the difference from the "lay" public is not statistical (Yusof et al., 2015). ...
The pandemic context shows signs of stability. During these complicated times for all, banks were extremely vigilant toward the evolution of the sanitary crisis. Banks came up with quick solutions to protect the health of their colleagues and clients. And they have been open to adapting their strategy to the changing data from the field. This paper analyzes the perception of the involvement of Romanian banks in corporate social responsibility during the COVID-19 pandemic. This study reveals that the activity of banks during the pandemic, evaluated positive to some extent, does not significantly impact the level of trust in the banking system. The findings could guide banks from Romania to better communicate their CSR projects and impact on the community. Despite the difficulties brought by the pandemic, it is natural for banks to take a step forward and think about the way they will define their CSR strategy in the future. Altogether, our findings could help the banking system learn to be even more empathetic and understanding towards clients and to be present in the community. During the pandemic, banks have done much to rehabilitate their reputation, impacted by the previous economic crisis.
... CSR and branding are linked in several ways, including trust, business reputation, and consumer attribution. Many academics, scholars, and academicians have demonstrated that corporate social responsibility (CSR) has a favorable impact on customer loyalty (Bari et al., 2021; Yusof et al., 2015). ...
Corporate social responsibility (CSR) has gotten a lot of study attention in the recent decade as a reflection of a company's beliefs and ethics. Consumer happiness is a growing area of research in this field. The study's goal is to learn how to measure the impact of corporate social responsibility on customer satisfaction in Cumilla city areas. The investigation gathers information from 150 banking customers in a personal interview using a structured questionnaire with five-point Likert scales from customers who have got service from a certain bank in Cumilla, Bangladesh. Data is gathered from customers and entered into an excel spreadsheet for analysis. Different forms of factor analysis are used to assess it. According to the findings of the survey, providing possibilities for rootless children to receive an education is more important than any other industry in terms of key variables that have a substantial impact on customer satisfaction. As a result, it is advised that the study raises awareness among potential customers, researchers, academicians, government officials, businessmen, legislators, and all other stakeholders and that the banking industry benefits from knowing the elements that influence customer happiness.
... Some studies still confirmed that CSR improves a company's reputation and financial performance and society. In detail, recent reviews of theories related to CSR showed that well-executed CSR initiatives can improve consumer loyalty (Asatryan, 2012;Yusof et al., 2015). Business strategy creation bases on the concept of CSR is an important opportunity for differentiation, as it considers the interests of different stakeholders and is dedicated to the achievement of social goals and environmental protection (Stanisavljevíc, 2017). ...
Corporate social responsibility takes an increasingly important role for businesses and receives the attention of many people. The relationship between Corporate social responsibility and customer loyalty has been tested in many business fields. So, the study aims to determine and estimate the influence of corporate social responsibility on customer loyalty in the jewellery industry. To achieve this objective, the study uses AMOS software that supports confirmatory factor analysis and structural equation modelling (SEM) to clarify whether or how Corporate social responsibility impacts customer loyalty. The inputs to the analyses were obtained through answers from 300 respondents, which completed the survey questionnaire with a total of 22 items is utilised to collect data from customers of top jewellery companies in Vietnam. The research results emphasize the corporate social responsibility is not only useful for jewellery companies but also enhances the customers’ perception that relates to some factors trust, satisfaction, and loyalty.
... However, the outbreak of the financial crisis in 2008 marked a series of confidence crisis that occurred in the financial industry, after which they tried to regain their damaged reputation and image, applying socially responsible principles and thus incorporating the concept of socially responsible business into their strategies (Lee et al., 2017;Paulik, Kombo, & Ključnikov, 2015). For this reason, it is not surprising that financial institutions have become the largest investors in CSR and that they have fostered the trend of togetherness, philanthropy and environmental commitment among beneficiaries, by adopting the concept of CSR into their new strategy (Jamaliah, Hasman, Norzitah, & Nor Akila, 2015), which is very important because financial institutions can stimulate economic growth and create employment, improve living standards, participate in environmental protection, so they can make a great contribution to sustainable development if they act properly and efficiently. Socially responsible banks are "banks with conscience", which strive to invest funds exclusively in those ventures that create welfare for the wider community, and at the same time bring good for the reputation and image of the bank itself (Ivanišević Hernaus, 2016). ...
As one of the pillars of the economy, financial institutions play important role in implementation of the concept of corporate social responsibility (CSR). The paper is focused on CSR in the financial sector, i.e. the perception of employees in banks and insurance companies in Serbia on the level of development of CSR regarding its external dimensions, such as responsibility toward beneficiaries, community and environment. The aim is to identify the employees' perceptions of external aspects of CSR in the financial sector, as well as to determine the impact of selected external aspects on the expected CSR benefits. The results of the conducted empirical research demonstrate a positive attitude of employees in financial institutions in the Republic of Serbia towards external aspects of CSR, as well as statistically significant impact of CSR towards beneficiary and environment on the expected CSR benefits. Additionally, the results indicate that CSR towards the community does not affect the expected benefits. Accordingly, we identified some practical and theoretical implications that can serve as a basis for creating and implementing a strategic approach to CSR in financial institutions.
... In the context of this study, it is worth stressing that the relationship between CSR disclosures and customers' perception has been also confirmed in the banking industry. For example, Mubarak, Ben Hamed, and Mubarak (2018), as well as Salehzadeh, Khazaei Pool, and Najafabadi (2018), find that corporate image is strengthened when banks adopt CSR, and Yusof, Manan, Karim, and Kassim (2015) note that customers pay special attention to a bank's clearly defined and implemented ethical values, philanthropic activity, and involvement in environmental issues. Using survey data, Polychronidoua, Ioannidoua, Kipourosa, Tsourgiannisb, and Simet (2014) show that banks use CSR to strengthen their image and attract more clients. ...
This study investigates the thematic content of Facebook disclosures from small local banks (SLBs) in Poland, their impact on Facebook users’ attention, and the economic repercussions for SLBs’ growth and performance. Based on the specificity of SLBs and existing empirical evidence, it hypothesizes that disclosures on socially responsible issues increase customer attention and can be converted into economic outcomes. To verify the posed hypotheses, several data sources are employed, including a hand-collected dataset describing the specificity of Facebook activities from SLBs in Poland between 2010 and 2017, and a stepwise research strategy is implemented. First, models of SLBs’ Facebook disclosures are distinguished. Second, the kinds of social media activities that ensure SLBs’ popularity among Facebook users are determined. Third, the thematic content of SLBs’ Facebook disclosures is related to their growth or performance indicators. The collected evidence shows that SLBs, as expected, can garner attention if they concentrate their social media activities mainly on socially responsible or local issues. Moreover, socially responsible activities and economic outcomes are generally not opposed, but only a careful selection of specific social disclosures can effectively exploit social media to the economic advantage of SLBs.
... Modern consumers with an understanding of social welfare have encouraged organizations to display a sense of responsibility toward society [52]. Arguably, there are disagreements that whether CSR activities of a bank have a significant impact on customer behavior, including satisfaction [53,54] and loyalty [55,56]. In a recent survey, Sun, Rabbani, Ahmad, Sial, Cheng, Zia-Ud-Din, and Fu [43] examined the relationship of CSR activities to consumer loyalty, and found a positive association between CSR activities of a bank and consumer loyalty. ...
... Perhaps this is why respondents of the survey were convinced that society building activities of an organization are of much importance for them, and they consider this dimension more when they make purchase decisions. This study is not the first to propose this relationship, as some recent calls from contemporary researchers [21,56,80] also confirm the same finding. ...
Achieving consumer loyalty will remain a prime objective of every business in the current volatile, uncertain, complex and ambiguous environment (VUCA), which demands some out-of-the-box thinking on the part of policymakers to sustain the competitive advantage. Sustainability has been emerging as a “new normal” for all industries of the present era, which forces all sectors to incorporate it into their business operations. There have been studies on the relationship between sustainability and consumer loyalty, but these studies are inconclusive, further establishing the importance of more research in this area. In this frame of reference, the present research objective is to test the dimensional impact of corporate social responsibility (CSR) activities (economic, environmental, social) on banking consumers’ loyalty in the context of Pakistan. The data were collected from different bank account holders, which were then analyzed through the structural equation modeling (SEM) technique in AMOS. The results revealed that all three dimensions of CSR positively relate to consumer loyalty. The banking industry policymakers can benefit from the findings of the present study to understand sustainability from the lens of marketing to drive a higher level of consumer loyalty.
... It is proven significantly by illustrating the contribution of social responsibility implementation felt by patients, providing a positive perception of satisfaction. It is compared to previous studies on CSR contribution with customer satisfaction [23,32]- [36,46]- [48]. ...
This research empirically examines the influence of corporate and employee social responsibility, customer satisfaction, trust, and loyalty, and sustainable business variables. The methods of this study using Partial Least Square-Structural Equation Modelling with hypothesis testing. Hospitals listed on the Indonesia Stock Exchange that carry out corporate social responsibility (CSR) were used as study objects. The number of samples collected was 96 respondents. The result showed although employee social responsibility (ESR) has a positive effect on customer satisfaction and trust, it has no significant impact on business sustainability. Likewise, patient satisfaction has a positive effect on loyalty, yet it has no significant impact on business sustainability. Trust has a positive effect on patient loyalty and business sustainability. The research novelty is corporate social responsibility as a determinant of business sustainability, as both an independent and mediating variable, including the employee social responsibility. Patient trust plays a vital role as a mediator between patient satisfaction and loyalty. Ethics has the highest contribution to CSR, furthermore, employee social responsibility and measurement are valid for marketing studies.
