From strategic corporate social responsibility to value creation: an analysis of corporate website communication in the banking sector

Abstract

PurposeIncreased public scrutiny and stakeholder pressure have given more importance to strategic corporate social responsibility (SCSR) and its three dimensions – orientation, process and value creation. At the same time, they provide banks the inspiration needed to pursue business goals, attain positive performances and communicate their social responsibility efforts. This paper analyses whether and how companies in the banking sector use corporate websites to communicate SCSR dimensions.Design/methodology/approachA content analysis was performed based on the corporate websites of leading banks included in the Dow Jones Sustainability World Index and the Hang Seng Corporate Sustainability Index to assess the prominence of SCSR communication.FindingsThe study shows that banks give less prominence to SCSR on corporate websites differently from companies belonging to other sectors, as they are less likely to expose their orientation to SCSR and pay slightly less attention to value creation than other companies.Practical implicationsThe paper provides theoretical insights into SCSR dimensions and how they are communicated on corporate websites. From a practical standpoint, the study provides guidance for managers in the banking sector aimed at improving their communication efforts, avoiding decoupling issues and adopting a consistent value creation perspective.Originality/valueFew studies have used a value creation perspective to differentiate between the dimensions of a SCSR approach. The paper fills this gap by assessing the communication efforts adopted by banks and insurance companies in this area.