SOCIAL RESPONSIBILITY AND PERFORMANCE OF FINANCIAL INSTITUTIONS

Silvia Stănoiu
Additional contact information
Silvia Stănoiu: Bucharest University of Economic Studies

Theoretical and Applied Economics, 2013, vol. XX, issue Special I, 147-163

Abstract: The clients of the financial institutions, investors, employees, members of the community have high expectations regarding the corporate responsibility of the financial institutions. Therefore, the CSR performance assessment of a financial-banking institution is a complex undertaking which needs to take into account several aspects regarding the direct and indirect impact of the banks. The apparent conflict between corporate social responsibility and company objectives was noticed quite early by Nobel Prize winner Milton Friedman, who stated that any effort to use corporate resources to purely altruist ends could mean socialism. In fact, Friedman recommended the amendment of the law regarding corporations in order to discourage corporate social responsibility (Manne, 2006). And yet, more than 30 years after Friedman’s statement, corporate social responsibility has become a norm.

Keywords: corporate social responsibility; social performance; financial performance. (search for similar items in EconPapers)
Date: 2013
References: Add references at CitEc
Citations:

Downloads: (external link)
http://store.ectap.ro/suplimente/International_Fin ... _BA_2013_XIth_Ed.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:agr:journl:v:xx:y:2013:i:special-i:p:147-163

Access Statistics for this article

Theoretical and Applied Economics is currently edited by Mircea Dinu

More articles in Theoretical and Applied Economics from Asociatia Generala a Economistilor din Romania / Editura Economica Contact information at EDIRC.
Bibliographic data for series maintained by Mircea Dinu ().