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Socially Responsible Investments Among Savings Banks And Credit Unions: Empirical Findings In The Spanish Context

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  • Carmen VALOR
  • Ricardo PALOMO
  • Javier ITURRIOZ
  • José Luis MATEU

Abstract

This article examines the socially responsible offer of savings banks and credit unions in Spain. In particular, it has been analysed their perceived commitment with socially responsible investments, their product portfolio, their marketing strategy, and their reported forecasts of future growth. The findings lead us to conclude that a socially responsible market in Spain is at an introductory stage among credit unions, and at a growth stage among savings banks. The paper outlines managerial implications for marketing managers so as to reap the potential benefits derived from this approach to investment. Copyright 2007 The Authors Journal compilation © CIRIEC 2007.

Suggested Citation

  • Carmen VALOR & Ricardo PALOMO & Javier ITURRIOZ & José Luis MATEU, 2007. "Socially Responsible Investments Among Savings Banks And Credit Unions: Empirical Findings In The Spanish Context," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 78(2), pages 301-326, June.
  • Handle: RePEc:bla:annpce:v:78:y:2007:i:2:p:301-326
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    References listed on IDEAS

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    1. Weisbrod, Burton A, 1983. "Nonprofit and Proprietary Sector Behavior: Wage Differentials among Lawyers," Journal of Labor Economics, University of Chicago Press, vol. 1(3), pages 246-263, July.
    2. Handy, Femida & Katz, Eliakim, 1998. "The Wage Differential between Nonprofit Institutions and Corporations: Getting More by Paying Less?," Journal of Comparative Economics, Elsevier, vol. 26(2), pages 246-261, June.
    3. Goddeeris, John H, 1988. "Compensating Differentials and Self-selection: An Application to Lawyers," Journal of Political Economy, University of Chicago Press, vol. 96(2), pages 411-428, April.
    4. Benedetto Gui, 2000. "Beyond Transactions: On the Interpersonal Dimension of Economic Reality," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 71(2), pages 139-169, June.
    5. Preston, Anne E, 1989. "The Nonprofit Worker in a For-Profit World," Journal of Labor Economics, University of Chicago Press, vol. 7(4), pages 438-463, October.
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    Cited by:

    1. Élias Rizkallah & Inmaculada Buendía Martínez, 2011. "Corporate Social Responsibility in the Financial Sector: Are Financial Cooperatives Ready to the Challenge?," CIRIEC-España, revista de economía pública, social y cooperativa, CIRIEC-España, issue 73, pages 127-149, October.
    2. Ricardo Server Izquierdo & Jordi Capó Vicedo, 2012. "Corporate social responsibility of financial organizations in the social economy: a case study on savings banks," Service Business, Springer;Pan-Pacific Business Association, vol. 6(1), pages 99-115, March.

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