The Impact of Corporate Social Responsibility Practices on Customer Value Co-Creation and Perception in the Digital Context: A Case Study of Taiwan Bank Industry

The rapid development of digitalization has introduced greater variability and trust-related risks to the banking industry. Enhancing customers’ perception of value co-creation with banks is a critical issue that requires attention. This study aims to explore the impact and mechanism of a bank’s social responsibility practices on its customers’ value co-creation in the digital context. A cross-level analysis model was developed and analyzed based on in-depth surveys of 30 bank managers and 262 valid customers. The results reveal that (1) CSR practices have no impact on customer value co-creation in the digital context; (2) CSR practices have a positive impact on customers’ perception of a company’s social responsibility; (3) customers’ perception of a company’s social responsibility has a positive impact on customer value co-creation; and (4) customers’ perception plays a mediating role between CSR practices and customer value co-creation. Although corporate social responsibility is becoming increasingly important in the current digital economy, our study found that it does not necessarily lead to more customer value co-creation. Banks must enable customers to perceive their CSR practices in order to foster value co-creation. This study has important implications for banking practitioners seeking to strengthen their social responsibility practices and create value with their customers in the digital era.