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Stakeholder Engagement: An Evaluation of European Banks

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  • Andrea Venturelli
  • Simona Cosma
  • Rossella Leopizzi

Abstract

This work introduces a model for evaluating the quality of stakeholder engagement (SE) in the banking sector by applying content analysis to SE disclosure. Through this model, an SE score is calculated based on a combination of qualitative and quantitative variables by international standards and relevant literature. The results show that European banks do not have high‐quality SE processes, especially in comparison to non‐financial companies traditionally regarded as corporate social responsibility sensitive. The main findings of the paper have both theoretical and empirical implications. Regarding theory, this study contributes to the so far scant literature on SE in the banking sector. From the management perspective, the results highlight areas that can be strengthened to improve SE processes in banks. Copyright © 2018 John Wiley & Sons, Ltd and ERP Environment

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  • Andrea Venturelli & Simona Cosma & Rossella Leopizzi, 2018. "Stakeholder Engagement: An Evaluation of European Banks," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 25(4), pages 690-703, July.
    • Handle: RePEc:wly:corsem:v:25:y:2018:i:4:p:690-703
    DOI: 10.1002/csr.1486
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    Cited by:

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    3. Yongjie Zhu & Shanyue Jin, 2023. "COVID-19, Digital Transformation of Banks, and Operational Capabilities of Commercial Banks," Sustainability, MDPI, vol. 15(11), pages 1-17, May.
    4. Antonio Iazzi & Simone Pizzi & Lea Iaia & Mario Turco, 2020. "Communicating the stakeholder engagement process: A cross‐country analysis in the tourism sector," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(4), pages 1642-1652, July.
    5. Andrea Venturelli & Simone Pizzi & Fabio Caputo & Salvatore Principale, 2020. "The revision of nonfinancial reporting directive: A critical lens on the comparability principle," Business Strategy and the Environment, Wiley Blackwell, vol. 29(8), pages 3584-3597, December.
    6. Francesco Gangi & Antonio Meles & Eugenio D'Angelo & Lucia Michela Daniele, 2019. "Sustainable development and corporate governance in the financial system: Are environmentally friendly banks less risky?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 26(3), pages 529-547, May.
    7. Alejandro García-Pozo & José Mondéjar-Jiménez & José Luis Sánchez-Ollero, 2019. "Internet’s User Perception of Corporate Social Responsibility in Hotel Services," Sustainability, MDPI, vol. 11(10), pages 1-14, May.
    8. Bonetti, Lisa & Lai, Alessandro & Stacchezzini, Riccardo, 2023. "Stakeholder engagement in the public utility sector: Evidence from Italian ESG reports," Utilities Policy, Elsevier, vol. 84(C).
    9. Jaime-Andres Correa-Garcia & Maria-Antonia Garcia-Benau & Emma Garcia-Meca, 2018. "CSR Communication Strategies of Colombian Business Groups: An Analysis of Corporate Reports," Sustainability, MDPI, vol. 10(5), pages 1-19, May.
    10. Annalisa Baldissera, 2023. "Sustainability reporting in banks: History of studies and a conceptual framework for thinking about the future by learning from the past," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(5), pages 2385-2405, September.
    11. Simone Pizzi & Francesco Rosati & Andrea Venturelli, 2021. "The determinants of business contribution to the 2030 Agenda: Introducing the SDG Reporting Score," Business Strategy and the Environment, Wiley Blackwell, vol. 30(1), pages 404-421, January.
    12. Wioleta Kucharska, 2020. "Employee Commitment Matters for CSR Practice, Reputation and Corporate Brand Performance—European Model," Sustainability, MDPI, vol. 12(3), pages 1-16, January.
    13. Sharon Kwaramba & Stanley Murairwa, 2022. "Enhancing the quality of decisions by administrators: A framework for identifying, classifying and engaging primary school stakeholders in Harare, Zimbabwe," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 6(1), pages 46-56, January.
    14. Doga Izcan & Eralp Bektas, 2022. "The Relationship between ESG Scores and Firm-Specific Risk of Eurozone Banks," Sustainability, MDPI, vol. 14(14), pages 1-21, July.
    15. Desislava Tsvetkova & Emma Bengtsson & Susanne Durst, 2020. "Maintaining Sustainable Practices in SMEs: Insights from Sweden," Sustainability, MDPI, vol. 12(24), pages 1-26, December.
    16. Francisco Javier Forcadell & Elisa Aracil & Fernando Ubeda, 2020. "Using reputation for corporate sustainability to tackle banks digitalization challenges," Business Strategy and the Environment, Wiley Blackwell, vol. 29(6), pages 2181-2193, September.
    17. Said Id Bouichou & Lei Wang & Hafiz Muhammad Basit Feroz, 2022. "How corporate social responsibility perceptions affect employees’ positive behavior in the hospitality industry: moderating role of responsible leadership," International Review on Public and Nonprofit Marketing, Springer;International Association of Public and Non-Profit Marketing, vol. 19(2), pages 413-446, June.
    18. Maura Campra & Paolo Esposito & Rosa Lombardi, 2020. "The engagement of stakeholders in nonfinancial reporting: New information‐pressure, stimuli, inertia, under short‐termism in the banking industry," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(3), pages 1436-1444, May.
    19. Rafał Kowalczyk & Wioleta Kucharska, 2020. "Corporate social responsibility practices incomes and outcomes: Stakeholders' pressure, culture, employee commitment, corporate reputation, and brand performance. A Polish–German cross‐country study," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(2), pages 595-615, March.
    20. Mario La Torre & Helen Chiappini (ed.), 2020. "Contemporary Issues in Sustainable Finance," Palgrave Studies in Impact Finance, Palgrave Macmillan, number 978-3-030-40248-8, December.
    21. Wioleta Kucharska & Rafał Kowalczyk, 2019. "How to achieve sustainability?—Employee's point of view on company's culture and CSR practice," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 26(2), pages 453-467, March.
    22. Fabricio Stocker & Michelle P. de Arruda & Keysa M. C. de Mascena & João M. G. Boaventura, 2020. "Stakeholder engagement in sustainability reporting: A classification model," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(5), pages 2071-2080, September.
    23. Giuseppe Nicolò & Gianluca Zanellato & Adriana Tiron-Tudor, 2020. "Integrated Reporting and European State-Owned Enterprises: A Disclosure Analysis Pre and Post 2014/95/EU," Sustainability, MDPI, vol. 12(5), pages 1-17, March.
    24. Simona Cosma & Rossella Leopizzi & Simone Pizzi & Mario Turco, 2021. "The stakeholder engagement in the European banks: Regulation versus governance. What changes after the NF directive?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(3), pages 1091-1103, May.

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