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Effect of Corporate Social Responsibility on Consumer Satisfaction and Consumer Loyalty of Private Banking Companies in Peru

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  • Luigi Leclercq-Machado

    (Carrera de Negocios Internacionales Facultad de Ciencias Empresariales y Económicas, Universidad de Lima, Lima 15023, Peru)

  • Aldo Alvarez-Risco

    (Carrera de Negocios Internacionales Facultad de Ciencias Empresariales y Económicas, Universidad de Lima, Lima 15023, Peru)

  • Sharon Esquerre-Botton

    (Carrera de Negocios Internacionales Facultad de Ciencias Empresariales y Económicas, Universidad de Lima, Lima 15023, Peru)

  • Camila Almanza-Cruz

    (Carrera de Negocios Internacionales Facultad de Ciencias Empresariales y Económicas, Universidad de Lima, Lima 15023, Peru)

  • Maria de las Mercedes Anderson-Seminario

    (Carrera de Negocios Internacionales Facultad de Ciencias Empresariales y Económicas, Universidad de Lima, Lima 15023, Peru)

  • Shyla Del-Aguila-Arcentales

    (Escuela de Posgrado, Universidad San Ignacio de Loyola, Lima 15024, Peru)

  • Jaime A. Yáñez

    (Vicerrectorado de Investigación, Universidad Norbert Wiener, Lima 15046, Peru
    Gerencia Corporativa de Asuntos Científicos y Regulatorios, Teoma Global, Lima 15073, Peru)

Abstract

This study aimed to determine the effect of corporate social responsibility (CSR) on consumer satisfaction and loyalty in the Peruvian private banking sector. A total of 390 bank consumers fulfilled an online survey. It evaluated the effect of corporate social responsibility (CSR), customer satisfaction (CS), and customer trust (CT) on customer loyalty. The results suggest that CSR and customer satisfaction, through customer trust, have a positive effect on customer loyalty. The model explained 63.6% of customer loyalty. Outcomes of the bootstrapping test showed that the path coefficients were significant. The research findings may help bank managers to understand customers’ satisfaction and trust, which can create a preference and loyalty for their firms. The study’s novelty is based on the use of the partial least square structural equation modeling technique (PLS-SEM) to evaluate CSR in the financial sector in Peru.

Suggested Citation

  • Luigi Leclercq-Machado & Aldo Alvarez-Risco & Sharon Esquerre-Botton & Camila Almanza-Cruz & Maria de las Mercedes Anderson-Seminario & Shyla Del-Aguila-Arcentales & Jaime A. Yáñez, 2022. "Effect of Corporate Social Responsibility on Consumer Satisfaction and Consumer Loyalty of Private Banking Companies in Peru," Sustainability, MDPI, vol. 14(15), pages 1-17, July.
    • Handle: RePEc:gam:jsusta:v:14:y:2022:i:15:p:9078-:d:870821
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    References listed on IDEAS

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    Cited by:

    1. Romina Gómez-Prado & Aldo Alvarez-Risco & Berdy Briggitte Cuya-Velásquez & Marián Arias-Meza & Nilda Campos-Dávalos & Luis Juarez-Rojas & Maria de las Mercedes Anderson-Seminario & Shyla Del-Aguila-Ar, 2022. "Product Innovation, Market Intelligence and Pricing Capability as a Competitive Advantage in the International Performance of Startups: Case of Peru," Sustainability, MDPI, vol. 14(17), pages 1-21, August.
    2. Luigi Leclercq-Machado & Aldo Alvarez-Risco & Romina Gómez-Prado & Berdy Briggitte Cuya-Velásquez & Sharon Esquerre-Botton & Flavio Morales-Ríos & Camila Almanza-Cruz & Sarahit Castillo-Benancio & Mar, 2022. "Sustainable Fashion and Consumption Patterns in Peru: An Environmental-Attitude-Intention-Behavior Analysis," Sustainability, MDPI, vol. 14(16), pages 1-18, August.
    3. Massimo Pighin & Aldo Alvarez-Risco & Shyla Del-Aguila-Arcentales & Mercedes Rojas-Osorio & Jaime A. Yáñez, 2022. "Factors of the Revisit Intention of Patients in the Primary Health Care System in Argentina," Sustainability, MDPI, vol. 14(20), pages 1-16, October.
    4. Mobin Fatma & Imran Khan, 2023. "CSR Influence on Brand Loyalty in Banking: The Role of Brand Credibility and Brand Identification," Sustainability, MDPI, vol. 15(1), pages 1-13, January.
    5. Qingyu Zhang & Sohail Ahmad, 2022. "Linking Corporate Social Responsibility, Consumer Identification and Purchasing Intention," Sustainability, MDPI, vol. 14(19), pages 1-17, October.
    6. Leenshya GUNNOO, 2023. "Customer Behaviour towards Corporate Social Responsibility: A Study in the Banking Industry in Mauritius," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 1, pages 78-88.
    7. Mobin Fatma, 2022. "Consumer Formation of CSR Image: Role of Altruistic Values," Sustainability, MDPI, vol. 14(22), pages 1-9, November.

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