Corporate Social Responsibility Strategy and its Influence Over Consumer Purchasing Decisions in Financial Institutions

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avondale-bepress-to-dspace.facultyBusiness
avondale-bepress-to-dspace.peer_review_statusPeer reviewed before publication
avondale-bepress.abstract<p>The aim of this research is how CSR activities can influence the purchasing behaviour of consumers when it comes to financial institutions. Whilst there have been significant amounts of literature written on CSR there is still a gap in understanding how CSR activities influence consumers perception. This gap is particularly evident in the financial services sector given they are the largest contributors to CSR in Australia (ACCSR, 2011). There is a further gap in the literature in understanding how perceptions of consumers towards CSR change dependant on situational context.</p> <p>In addressing the research problem, the study focusses on understanding the most influential CSR initiatives, understanding how the influence of CSR initiatives can change depending on situational context and then delves further to understand how demographic attributes can alter perception. Bhattacharya and Sen’s (2004) framework was used to frame the questionnaire that was answered by 1014 respondents, showing to be sufficiently representative of the Australian population. The outcomes of this research were used to develop a comprehensive framework for Australian Financial Institutions to use when developing their CSR strategy.</p> <p>It was clear that across all investment types and situational contexts, Community Support was the most influential form of CSR across the sample. Whilst this was the case, the level of influence differed across demographic groups and changed to varying degrees based on situational context dependent on the respondent. Community Support’s influence as a CSR initiative was clearly ahead of others presented to the respondents followed by Employee Support and Environment Support dependent on the investment method and the situational context. This research also addresses the question of influence of demographics by finding that they are a major factor in what and how CSR initiatives influence a person. This dissertation has led to the development of the CSR Strategic Investment Application (SIA) Framework which can be used by Financial Institutions in the development of an optimal CSR strategy, and a revised version of Bhattacharya and Sen’s (2004) framework leading to the Enhanced CSR Framework Model which can be applied by Australian Financial Institutions in future.</p>
avondale-bepress.articleid1010
avondale-bepress.authorsMatthew Tinker
avondale-bepress.authorsLisa Barnes
avondale-bepress.context-key10341233
avondale-bepress.coverpage-urlhttps://research.avondale.edu.au/bit_conferences/8
avondale-bepress.document-typeconference
avondale-bepress.field.author_faculty_disciplineBusiness
avondale-bepress.field.comments<p>Used by permission: <a href="http://globalstf.org/">Global Science & Technology Forum</a> (GSTF) and the authors</p> <p>© GSTF 2017</p> <p>This conference paper may be accessed from the publisher <a href="http://dl4.globalstf.org/">here.</a></p>
avondale-bepress.field.custom_citation<p>Tinker, M., & Barnes, L. (2017, June 5-6). <em>Corporate social responsibility strategy and its influence over consumer purchasing decisions in financial institutions.</em> Paper presented at 7<sup>th</sup> Annual International Conference on Accounting and Finance (AF 2017). doi:10.5176/2251-1997_AF17.3</p>
avondale-bepress.field.embargo_date2017-06-22T00:00:00Z
avondale-bepress.field.field_of_education08 Management and Commerce
avondale-bepress.field.for150203 Financial Institutions (incl. Banking)
avondale-bepress.field.peer_reviewBefore publication
avondale-bepress.field.proceedings7th Annual International Conference on Accounting and Finance
avondale-bepress.field.publication_date2017-06-01T00:00:00Z
avondale-bepress.field.reportable_itemsE1
avondale-bepress.field.source_publication<p>This conference proceeding was originally published as:</p> <p>Tinker, M., & Barnes, L. (2017, June 5-6). <em>Corporate social responsibility strategy and its influence over consumer purchasing decisions in financial institutions.</em> Paper presented at 7<sup>th</sup> Annual International Conference on Accounting and Finance (AF 2017). doi:10.5176/2251-1997_AF17.3</p> <p>ISSN: 2251-1997</p>
avondale-bepress.fulltext-urlhttps://research.avondale.edu.au/cgi/viewcontent.cgi?article=1010&amp;context=bit_conferences&amp;unstamped=1
avondale-bepress.keywordsCorporate Social Responsibility
avondale-bepress.keywordsConsumer Purchasing Decisions
avondale-bepress.keywordsFinancial Institutions
avondale-bepress.label8
avondale-bepress.publication-date2017-06-01T00:00:00Z
avondale-bepress.publication-titleBusiness Conference Papers
avondale-bepress.statepublished
avondale-bepress.submission-date2017-06-22T21:54:44Z
avondale-bepress.submission-pathbit_conferences/8
avondale-bepress.titleCorporate Social Responsibility Strategy and its Influence Over Consumer Purchasing Decisions in Financial Institutions
avondale-bepress.typearticle
dc.contributor.authorBarnes, Lisa
dc.contributor.authorTinker, Matthew
dc.date.accessioned2023-11-01T00:25:04Z
dc.date.available2023-11-01T00:25:04Z
dc.date.issued2017-06-01
dc.date.submitted2017-06-22T21:54:44Z
dc.description.abstract<p>The aim of this research is how CSR activities can influence the purchasing behaviour of consumers when it comes to financial institutions. Whilst there have been significant amounts of literature written on CSR there is still a gap in understanding how CSR activities influence consumers perception. This gap is particularly evident in the financial services sector given they are the largest contributors to CSR in Australia (ACCSR, 2011). There is a further gap in the literature in understanding how perceptions of consumers towards CSR change dependant on situational context.</p> <p>In addressing the research problem, the study focusses on understanding the most influential CSR initiatives, understanding how the influence of CSR initiatives can change depending on situational context and then delves further to understand how demographic attributes can alter perception. Bhattacharya and Sen’s (2004) framework was used to frame the questionnaire that was answered by 1014 respondents, showing to be sufficiently representative of the Australian population. The outcomes of this research were used to develop a comprehensive framework for Australian Financial Institutions to use when developing their CSR strategy.</p> <p>It was clear that across all investment types and situational contexts, Community Support was the most influential form of CSR across the sample. Whilst this was the case, the level of influence differed across demographic groups and changed to varying degrees based on situational context dependent on the respondent. Community Support’s influence as a CSR initiative was clearly ahead of others presented to the respondents followed by Employee Support and Environment Support dependent on the investment method and the situational context. This research also addresses the question of influence of demographics by finding that they are a major factor in what and how CSR initiatives influence a person. This dissertation has led to the development of the CSR Strategic Investment Application (SIA) Framework which can be used by Financial Institutions in the development of an optimal CSR strategy, and a revised version of Bhattacharya and Sen’s (2004) framework leading to the Enhanced CSR Framework Model which can be applied by Australian Financial Institutions in future.</p>
dc.description.versionBefore publication
dc.identifier.citation<p>Tinker, M., & Barnes, L. (2017, June 5-6). <em>Corporate social responsibility strategy and its influence over consumer purchasing decisions in financial institutions.</em> Paper presented at 7<sup>th</sup> Annual International Conference on Accounting and Finance (AF 2017). doi:10.5176/2251-1997_AF17.3</p>
dc.identifier.urihttps://research.avondale.edu.au/handle/123456789/10341233
dc.language.isoen_us
dc.provenance<p>This conference proceeding was originally published as:</p> <p>Tinker, M., & Barnes, L. (2017, June 5-6). <em>Corporate social responsibility strategy and its influence over consumer purchasing decisions in financial institutions.</em> Paper presented at 7<sup>th</sup> Annual International Conference on Accounting and Finance (AF 2017). doi:10.5176/2251-1997_AF17.3</p> <p>ISSN: 2251-1997</p>
dc.rights<p>Used by permission: <a href="http://globalstf.org/">Global Science & Technology Forum</a> (GSTF) and the authors</p> <p>© GSTF 2017</p> <p>This conference paper may be accessed from the publisher <a href="http://dl4.globalstf.org/">here.</a></p>
dc.subjectCorporate Social Responsibility
dc.subjectConsumer Purchasing Decisions
dc.subjectFinancial Institutions
dc.titleCorporate Social Responsibility Strategy and its Influence Over Consumer Purchasing Decisions in Financial Institutions
dc.typeConference Publication
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