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This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License
Article
Author(s)
Matthew Tinker
Lisa Barnes
David Wilson
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DOI:10.17265/2161-6248/2017.05.003
Affiliation(s)
University of Newcastle, New South Wales, Australia
Conjoint University of Newcastle, New South Wales, Australia
Avondale College of Higher Education, New South Wales, Australia
ABSTRACT
The aim of this research is
how corporate social responsibility (CSR) activities can influence the
purchasing behaviour of consumers. When it comes to financial institutions,
there have been significant amounts of literature written on CSR and there is
still a gap in understanding how CSR activities influence consumer’s perception.
This gap is particularly evident in the financial services sector, given they
are the largest contributors to CSR in Australia. In addressing the research
problem, the study focuses on understanding the most influential CSR
initiatives, understanding how the influence of CSR initiatives can change
depending on situational context, and understanding how demographic attributes
can alter perception. A questionnaire was answered by 1,014 respondents,
showing to be sufficiently representative of the Australian population. The
outcomes of this research were used to develop a comprehensive framework for
Australian Financial Institutions (AFI) to use
when developing their CSR strategy. It was clear that across all investment
types and situational contexts, community support was the most influential form
of CSR across the sample. Whilst this was the case, the level of influence
differed across demographic groups and changed to varying degrees based on
situational context dependent on the respondent. Community support’s influence
as a CSR initiative was clearly ahead of others presented to the respondents
followed by employee support and environment dependent on the investment method
and the situational context.
KEYWORDS
corporate social responsibility (CSR), consumer purchasing decisions, financial institutions
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