CSR disclosure in banking: A qualitative literature review

Titolo Rivista FINANCIAL REPORTING
Autori/Curatori Pablo de Andrés, Salvatore Polizzi, Enzo Scannella, Nuria Suárez
Anno di pubblicazione 2023 Fascicolo 2023/1 Lingua Inglese
Numero pagine 28 P. 5-32 Dimensione file 236 KB
DOI 10.3280/FR2023-001001
Il DOI è il codice a barre della proprietà intellettuale: per saperne di più clicca qui

Qui sotto puoi vedere in anteprima la prima pagina di questo articolo.

Se questo articolo ti interessa, lo puoi acquistare (e scaricare in formato pdf) seguendo le facili indicazioni per acquistare il download credit. Acquista Download Credits per scaricare questo Articolo in formato PDF

Anteprima articolo

FrancoAngeli è membro della Publishers International Linking Association, Inc (PILA)associazione indipendente e non profit per facilitare (attraverso i servizi tecnologici implementati da CrossRef.org) l’accesso degli studiosi ai contenuti digitali nelle pubblicazioni professionali e scientifiche

Purpose: This paper reviews the literature on corporate social responsibility (CSR) disclosure in banking to identify the most relevant aspects analyzed to date and avenues for future research. The CSR concept is key in the banking industry and banks are pushed to improve their social and environmental performance, and to disclose information about CSR in their financial and non-financial reports. Design/methodology/approach: This paper adopts a mixed literature review approach, based on a qualitative analysis of the literature and complemented by some structured systematic analyses. The theoretical frameworks employed in the literature, the time and geographical distribution of the samples analyzed, and the main findings of the studies indexed in Scopus, Web of Science, Google Scholar, and EBSCOhost are also examined. Findings: The findings show that (i) there is a significant gap between the liter-ature focusing on the financial dimension of bank disclosure and that exploring the CSR dimension; (ii) the time horizons analyzed in the empirical literature are concentrated around the 2008-2009 global financial crisis; (iii) the empirical litera-ture mainly focuses on the most developed European, North American and Asian countries. Originality/value: This study contributes to extant literature by describing the state of the art on CSR disclosure in banking and paving the way for future re-search on this topic. A call for research is raised on corruption-related disclosure and the relationship between national economic development and bank transpar-ency, with specific reference to CSR disclosure.

Keywords:disclosure, banking, corruption, CSR, corporate social responsibility.

Jel codes:G21, M14, M41

  1. Altunbaş Y., Polizzi S., Scannella E. and Thornton J. (2021), European Banking Union and bank risk disclosure: the effects of the Single Supervisory Mechanism, Review of Quantitative Finance and Accounting, forthcoming,
  2. Altunbaş Y., Thornton J. and Uymaz Y. (2018), CEO tenure and corporate misconduct: Evidence from US banks, Finance Research Letters, 26, pp. 1-8,
  3. Al‐Hadi A., Hasan M. M. and Habib A. (2016), Risk committee, firm life cycle, and market risk disclosures, Corporate Governance: An International Review, 24(2), pp. 145-170,
  4. Bahoo S. (2020), Corruption in banks: A bibliometric review and agenda, Finance Research Letters, 35, 101499,
  5. Bahoo S., Alon I. and Paltrinieri A. (2020), Corruption in international business: A review and research agenda, International Business Review, 29(4), 101660.
  6. Balakrishnan K. and Ertan A. (2019), Bank asset transparency and credit supply, Review of Accounting Studies, 24, pp. 1359-1391,
  7. Barakat A., Chernobai A. and Wahrenburg M. (2014), Information asymmetry around operational risk announcements, Journal of Banking and Finance, 48, pp. 152-179,
  8. Barakat A. and Hussainey K. (2013), Bank governance, regulation, supervision, and risk reporting: Evidence from operational risk disclosures in European banks, International Review of Financial Analysis, 30, pp. 254-273,
  9. Branco M. C. and Rodrigues L. L. (2008), Social responsibility disclosure: A study of proxies for the public visibility of Portuguese banks, The British Accounting Review, 2(40), pp. 161-181. DOI: 10.1108/13563280610680821
  10. Birindelli G. and Ferretti P. (2017), Operational risk management in banks: Regulatory, organisational and strategic issues, in Molyneux P. (Ed) Palgrave Macmillan Studies in Banking and Financial Institutions, (London, United Kingdom: Palgrave Macmillan).
  11. Blanc R., Islam M. A., Patten D. M. and Branco M. C. (2017), Corporate anti-corruption disclosure: An examination of the impact of media exposure and country-level press freedom, Accounting, Auditing and Accountability Journal, 30(8), pp. 1746-1770, DOI: 10.1108/AAAJ-02-2015-1965
  12. Blanc R., Cho C. H., Sopt J. and Branco M. C. (2019), Disclosure responses to a corruption scandal: The case of Siemens AG, Journal of Business Ethics, 156(2), pp. 545-561.
  13. Bonner C., Lelyveld I. V. and Zymek R. (2015), Banks’ Liquidity Buffers and the Role of Liquidity Regulation, Journal of Financial Services Research, 48, pp. 215-234,
  14. Botosan C. A. and Plumlee M. A. (2002), A re‐examination of disclosure level and the expected cost of equity capital, Journal of Accounting Research, 40(1), 21-40, DOI: 10.1111/1475-679X.00037
  15. Chakroun R., Matoussi H. and Mbirki S. (2017), Determinants of CSR disclosure of Tunisian listed banks: a multi-support analysis, Social Responsibility Journal, 13(3), pp. 552-584, DOI: 10.1108/SRJ-04-2016-0055
  16. Chantziaras A., Dedoulis E., Grougiou V. and Leventis S. (2020), The impact of religiosity and corruption on CSR reporting: The case of U.S. banks, Journal of Business Research, 109, pp. 362-374,
  17. Cornett M. M., Erhemjamts O. and Tehranian H. (2016), Greed or good deeds: an examination of the relation between corporate social responsibility and the financial performance of U.S. Commercial banks around the financial crisis, Journal of Banking and Finance, 70, pp. 137-159,
  18. Dhaliwal D. S., Li O. Z., Tsang A. and Yang Y. G. (2011), Voluntary nonfinancial disclosure and the cost of equity capital: The initiation of corporate social responsibility reporting, The Accounting Review, 86(1), pp. 59-100,
  19. Dicuonzo G. (2018), La disclosure sui rischi finanziari tra dottrina, normativa e prassi: Evidenze empiriche dal contesto italiano. (Turin: Giappichelli).
  20. Elamer A. A., Ntim C. G., Abdou H. A. and Pyke C. (2019), Sharia supervisory boards, governance structures and operational risk disclosures: Evidence from Islamic banks in MENA countries, Global Finance Journal, 46, pp. 1-17.
  21. Eng L. L. and Mak Y. T. (2003), Corporate governance and voluntary disclosure, Journal of Accounting and Public Policy, 22(4), pp. 325-345. DOI: 10.1016/S0278-4254(03)00037-1
  22. Farina V., Galloppo G. and Previati D. A. (2019), Central Banks’ Commitment to Stakeholders: CSR in the Eurosystem: 2006-2016, in E. Gualandri, V. Venturelli, and A. Sclip (Eds), Frontier Topics in Banking, pp. 189-221 (Cham: Palgrave Macmillan). DOI: 10.1007/978-3-030-16295-5_8
  23. Flannery M. J. (2001), The faces of “market discipline”, Journal of Financial Services Research, 20(2-3), pp. 107-119, DOI: 10.1023/A:1012455806431
  24. Freeman R. E. (1984), Strategic management: A stakeholder approach. (Boston: Cambridge University Press).
  25. Frolov M. (2006), Bank credit risk disclosure in Japan, Journal of Banking Regulation, 7(3-4), pp. 221-242,
  26. Gago-Rodríguez S., Márquez-Illescas G. and Núñez-Nickel M. (2020), Denial of corruption: Voluntary disclosure of bribery information, Journal of Business Ethics, 162, pp. 609-626,
  27. Gorton G. B. (2008), The panic of 2007, NBER working paper, No. 14358.
  28. Grougiou V., Leventis S., Dedoulis E. and Owusu-Ansah, S. (2014), Corporate social responsibility and earnings management in US banks, Accounting Forum, 38(3), pp. 155-169,
  29. Helbok G. and Wagner C. (2006), Determinants of operational risk reporting in the banking industry, The Journal of Risk, 9(1), pp. 49-74,
  30. Jain A., Keneley M., Thomson D. (2015), Voluntary CSR disclosure works! Evidence from Asia-Pacific banks, Social Responsibility Journal, 11(1), pp. 2-18, DOI: 10.1108/SRJ-10-2012-0136
  31. Japan Investor Relations Association (2004). “Kigyo-no IR Katsudo-ni Kansuru Anketo [A questionnaire about IR activities of firms]”. Japan Investor Relations Association, Tokyo.
  32. Jensen M. C. and Meckling W. H. (1976), Theory of the firm: managerial behavior, agency costs and ownership structure, Journal of Financial Economics, 3(4), pp. 305-360, DOI: 10.1016/0304-405X(76)90026-X
  33. Jizi M. I., Salama A., Dixon R. and Stratling R. (2014), Corporate governance and corporate social responsibility disclosure: Evidence from the US banking sector, Journal of Business Ethics, 125(4), pp. 601-615,
  34. Johnson S. A. (1997), The effect of bank reputation on the value of bank loan agreements, Journal of Accounting, Auditing & Finance, 12(1), pp. 83-100, DOI: 10.1177/0148558X9701200105
  35. Jungherr J. (2018), Bank opacity and financial crises, Journal of Banking and Finance, 97, pp. 157-176,
  36. Tutino F. (2019), Il nuovo bilancio delle banche. Rome: Bancaria Editrice.
  37. Weber R. P. (1990), Basic Content Analysis. Sage: Beverly Hills.
  38. Zhang Y., Chong G. and Jia R. (2019), Fair value, corporate governance, social responsibility disclosure and banks’ performance. Review of Accounting and Finance, 9(1), pp. 30-47, DOI: 10.1108/RAF-01-2018-0016
  39. Zelenyuk N., Faff R. and Pathan S. (2020), The impact of voluntary capital adequacy disclosure on bank lending and liquidity creation, Accounting and Finance, 60(4), pp. 4387-4417,
  40. Suchman M. C. (1995), Managing legitimacy: Strategic and institutional approaches, Academy of Management Review, 20(3), pp. 571-610,
  41. Sowerbutts R., Zimmerman P. and Zer I. (2013), Banks’ disclosure and financial stability, Bank of England Quarterly Bulletin, 4.
  42. Scannella E. and Polizzi S. (2021), How to measure bank credit risk disclosure? Testing a new methodological approach based on the content analysis framework, Journal of Banking Regulation, 22(1), pp. 73-95,
  43. Scannella E. and Polizzi S. (2019), Credit risk disclosure practices in the annual financial reporting of large Italian banks, in E. Gualandri, V. Venturelli, and A. Sclip (Eds.), Frontier Topics in Banking, pp. 245-292 (Cham: Palgrave Macmillan). DOI: 10.1007/978-3-030-16295-5_10
  44. Scannella E. and Polizzi S. (2018), Market risk disclosure in banking: an empirical analysis on four global systemically important European banks, Journal of Banking Regulation, 19(2), pp. 87-100,
  45. Schröder P. (2021), Corporate social responsibility (CSR) website disclosures: empirical evidence from the German banking industry, International Journal of Bank Marketing, 39(5), pp. 768-788, DOI: 10.1108/IJBM-06-2020-0321.
  46. Rutigliano M. (2016), Il bilancio della banca e degli altri intermediari finanziari. (Milan: Egea).
  47. Ratnovski L. (2013), Liquidity and transparency in bank risk management, Journal of Financial Intermediation, 22(3), pp. 422-439,
  48. Polizzi S. and Scannella E. (2020), An empirical investigation into market risk disclosure: is there room to improve for Italian banks?, Journal of Financial Regulation and Compliance, 28(3), pp. 465-483, DOI: 10.1108/JFRC-05-2019-0060
  49. Platonova E., Asutay M., Dixon R. and Mohammad S. (2018), The impact of corporate social responsibility disclosure on financial performance: Evidence from the GCC Islamic banking sector, Journal of Business Ethics, 151(2), pp. 451-471,
  50. Pérignon C. and Smith D. R. (2010), The level and quality of Value-at-Risk disclosure by commercial banks, Journal of Banking and Finance, 34(2), pp. 362-377,
  51. Pérez A. and Del Bosque I. R. (2012) The role of CSR in the corporate identity of banking service providers, Journal of Business Ethics, 108(2), pp. 145-166,
  52. Nier E. W. (2005), Bank stability and transparency, Journal of Financial Stability, 1(3), pp. 342-354,
  53. Meng-Wen W. and Chung-Hua S. (2013), Corporate social responsibility in the banking industry: motives and financial performance, Journal of Banking and Finance, 37(9), pp. 3529-3547,
  54. Levine R. (1997), Financial development and economic growth: views and agenda, Journal of Economic Literature, 35(2), pp. 688-726.
  55. Krippendorff K. (2004), Content analysis: An introduction to its methodology. (Thousand Oaks: Sage).
  56. Kim J., Kim M. and Kim Y. (2020), Bank transparency and the market’s perception of bank risk, Journal of Financial Services Research, 58, pp. 115-142,
  57. Kiliç M. (2016), Online corporate social responsibility (CSR) disclosure in the banking industry: Evidence from Turkey, International Journal of Bank Marketing, 34(4), pp. 550-569. DOI: 10.1108/IJBM-04-2015-0060
  58. Khan A., Muttakin M. B. and Siddiqui J. (2013), Corporate governance and corporate social responsibility disclosures: Evidence from an emerging economy, Journal of Business Ethics, 114(2), pp. 207-223,
  59. Karyani E., Kolade O. and Dewo S. A. (2020), Risk governance, market competition and operational risk disclosure quality: a study of the ASEAN-5 banking sector, Journal of Operational Risk, 16(2), pp. 1-26, DOI: 10.21314/JOP.2021.004

Pablo de Andrés, Salvatore Polizzi, Enzo Scannella, Nuria Suárez, CSR disclosure in banking: A qualitative literature review in "FINANCIAL REPORTING" 1/2023, pp 5-32, DOI: 10.3280/FR2023-001001