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The Changing Role of Banks in the Financial System: Social Versus Conventional Banks

Author

Listed:
  • Simon Cornée

    (UR - Université de Rennes, CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique)

  • Anastasia Cozarenco

    (Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School)

  • Ariane Szafarz

    (ULB - Université libre de Bruxelles = Free University of Brussels)

Abstract

Social banks have emerged as a new group of banks that call themselves as "alternative", "ethical", "sustainable", and "value-based". Their small market share increases at a rapid pace and is still expected to grow in the future. Social banks are institutions with both (at least some) activities of financial intermediation and one or several non-financial missions, typically based on environmental and social values. By unpacking the observable, real-life differences between social banks and conventional banks, this chapter paves the way to theorizing the multidimensional characteristics of social banks within the global banking industry. Business models, governance issues, lending technologies, and social outcomes appear to be key aspects to understand how innovative, value-based, social banks work and how they might one day substantively affect mainstream banking business.

Suggested Citation

  • Simon Cornée & Anastasia Cozarenco & Ariane Szafarz, 2023. "The Changing Role of Banks in the Financial System: Social Versus Conventional Banks," Post-Print hal-04479371, HAL.
    • Handle: RePEc:hal:journl:hal-04479371
    DOI: 10.1007/978-3-031-24283-0_1
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    Cited by:

    1. María Jesús Segovia‐Vargas & I. Marta Miranda‐García & Freddy Alejandro Oquendo‐Torres, 2023. "Sustainable finance: The role of savings and credit cooperatives in Ecuador," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 94(3), pages 951-980, September.
    2. Richard Bofinger & Simon Cornée & Ariane Szafarz, 2024. "When in Rome, Do as the Romans Do: Disclosure Regulation and ESG Fund Management by Social and Conventional Banks," Working Papers CEB 24-003, ULB -- Universite Libre de Bruxelles.
    3. Kong, Zhenhuan & Du, Jianxiao & Kong, Yilin & Cui, Xiaoyu, 2024. "Financial development, environmental regulation, and corporate green technology innovation: Evidence from Chinese listed companies," Finance Research Letters, Elsevier, vol. 62(PA).
    4. Bernal, Oscar & Hudon, Marek & Ledru, François-Xavier, 2025. "Who buys social bank shares? Exploring individual financial and non-pecuniary motives," Journal of Behavioral and Experimental Finance, Elsevier, vol. 46(C).

    More about this item

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • B55 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Social Economics
    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • H81 - Public Economics - - Miscellaneous Issues - - - Governmental Loans; Loan Guarantees; Credits; Grants; Bailouts

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