Corporate Social Responsibility of Financial Cooperatives: A Multi-Level Analysis

Abstract

Cooperatives, which have a dual mission that includes both business and social goals, are of particular interest for the study of corporate social responsibility (CSR). The aim of this study was to examine how cooperative directors influence the CSR strategies of their organization. We used a multi-level conceptual framework, consisting of micro, meso, and macro levels, to analyze qualitative data (20 interviews, observation of two board meetings and analysis of over 25 public documents) collected through a case study design that focused on the directors of three financial cooperatives operating under a large group of Canadian financial service cooperatives. Our study contributes first by building on prior studies that link CSR goals to the cooperatives’ dual mission and commitment to improving their community. We enrich prior findings by showing how directors play a crucial role in the enactment of the social dimension of CSR, but that conversely, cooperatives are vehicles for directors who want to contribute to the improvement of their community, thus creating a virtuous circle. Secondly, comparing bureaus operating in urban and rural areas allows us to show how the specificities of the community in which a cooperative evolves influence the approach of the directors towards the environmental dimension of CSR.

Intrinsic drivers of the reputation for CSR: a cognitive analysis of consumer expectations

“…Some studies have reported that CSR activities can have a direct positive effect on consumer behavior (Quezado et al, 2022;Kumar and Srivastava, 2022;Sama et al, 2020). Other commentaries found that the effect of espoused CSR values on consumer behavioral and perceptual patterns is limited (Wagler, 2009;Adams, 2019;Villadsen and Lundberg, 2023) and can forge new policies and practices, which trigger more nuanced approaches to the uptake of CSR (Ijabadeniyi, 2020;Andersen and Høvring, 2020). This study uses the social realist lens to deepen understanding of the complex relationship between CSR and CR.…”

“…This phenomenon has made the reputation for CSR fashionable and a nice item to display on the business agenda and corporate communication strategies. The prevalence of the tactical and strategic use of CSR and sustainability-related terms in corporate communications is shifting accountability away from morality in business decision-making (Villadsen and Lundberg, 2023). This phenomenon is also perpetuating the post-crisis ethical order (Leins, 2020).…”