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The Influence of Innovation on Corporate Sustainability in the International Banking Industry

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  • Francisco Javier Forcadell

    (Researcher at ESIC Business & Marketing School, Rey Juan Carlos University, 28933 Móstoles, Madrid, Spain)

  • Elisa Aracil

    (Department of Economics, Universidad Pontificia Comillas ICADE, 28015 Madrid, Spain)

  • Fernando Úbeda

    (Department of Finance, Universidad Autónoma de Madrid, 28049 Madrid, Spain)

Abstract

We empirically explore the innovation and corporate sustainability link using a large sample of worldwide banks for the period 2003–2016. Our results suggest that service innovation performance enhances the banking industry’s corporate sustainability. In addition, we contribute by proposing a conceptual framework for understanding the link between innovation performance and corporate sustainability in the banking industry. The framework consists of three underlying dimensions—the antecedents of innovation performance, the specific innovation performance initiatives, and how these initiatives are converted into improved corporate sustainability. Our findings provide insights for academics and practitioners on the dynamics between service innovation performance and corporate sustainability in the banking sector. Further, due to the intermediation role of banks in the economy, their evolution towards sustainable banking constitutes a lever for sustainability across other industries and overall sustainable development.

Suggested Citation

  • Francisco Javier Forcadell & Elisa Aracil & Fernando Úbeda, 2019. "The Influence of Innovation on Corporate Sustainability in the International Banking Industry," Sustainability, MDPI, vol. 11(11), pages 1-15, June.
    • Handle: RePEc:gam:jsusta:v:11:y:2019:i:11:p:3210-:d:238472
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    Cited by:

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    4. Fukuyama, Hirofumi & Tan, Yong, 2022. "Implementing strategic disposability for performance evaluation: Innovation, stability, profitability and corporate social responsibility in Chinese banking," European Journal of Operational Research, Elsevier, vol. 296(2), pages 652-668.
    5. Alvaro Mendez & David Patrick Houghton, 2020. "Sustainable Banking: The Role of Multilateral Development Banks as Norm Entrepreneurs," Sustainability, MDPI, vol. 12(3), pages 1-21, January.
    6. Ferdy F. F. Nuus & Petra C. M. Neessen & Cosmina L. Voinea & Marjolein C. J. Caniëls, 2022. "Sustainable Innovation in the Financial Sector during the Corona Crisis: How Discontinuity Affects Sustainable Innovation, Sustainable Entrepreneurial Orientation, and Absorptive Capacity," Sustainability, MDPI, vol. 14(11), pages 1-15, May.
    7. Herlina Lusmeida & Yvonne Augustine, 2022. "The effect of enterprise risks management, innovation towards sustainable finance moderated by intellectual capital," Technium Social Sciences Journal, Technium Science, vol. 29(1), pages 481-496, March.
    8. repec:thr:techub:10029:y:2022:i:1:p:481-496 is not listed on IDEAS
    9. Chunya Ren & Irene Wei Kiong Ting & Wen‐Min Lu & Qian Long Kweh, 2022. "Nonlinear effects of ESG on energy‐adjusted firm efficiency: Evidence from the stakeholder engagement of apple incorporated," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(5), pages 1231-1246, September.
    10. Guangying Xie & Shengyan Wu & Zhengjiang Song, 2022. "Focus on Innovation or Focus on Sales? The Influences of the Government of China’s Demand-Side Reform during COVID-19 and Their Sustainability Consequences in the Consumer Products Industry," Sustainability, MDPI, vol. 14(20), pages 1-21, October.

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