Browsing by Author "Mudassir, Mohammad"
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- Corporate social responsibility and corporate financial performance: the managerial perception on banking sectorPublication . Mudassir, Mohammad; Monte, Ana PaulaThe current study aims to investigate and explore the role of Corporate Social Responsibility (CSR) in the banking industry and how CSR initiatives can bring financial benefits to the banks in the perspective of the banking managers. The study was designed to get an in-depth understanding of the CSR planning, strategies, and their execution, and the processes involved and challenges faced by banks during all this process. The researcher opted for a qualitative study design to collect primary data. The data collection tool selected for this study was an unstructured interview. The researcher developed the interview questionnaire. The study sample comprises of CSR and Financial managers of four banks. Two banks were selected from United Arab Emirates (UAE) and two banks were selected from India. The total number of managers involved in the study was four (n=4). Both UAE and Indian managers were analyzed separately to identify if any demographic difference exists in the perspective of the managers. The study findings indicated that CSR is considered a proper strategic function of banks in the UAE. Banks are involved in the proper planning and development of CSR strategies and consider CSR as an effective means to increase the company's reputation and to bring long-term financial benefits. Further, it was also found out that in UAE banks, proper risk analysis is conducted along with CSR to ensure no conflict with government policies and no social risk results from their CSR initiatives. On the contrary, the CSR practices were also effective in Indian Banks. However, managers expressed many challenges like convincing investors, corruption, and pressure of financial gain through CSR. Most importantly, it was found that Indian managers do not believe that CSR alone can bring long-term financial gains to the banks. Both countries' managers share that they have effective CSR departments and are involved in annual or biannual meetings to plan and implement CSR in their companies. The study results are significant as they give managerial level perception about the challenges faced and requirements that have to be fulfilled to make CSR financially effective for the banks.