Banking with purpose: the impact of CSR-S on customer behavior during the COVID-19

Attia Abdelkader Ali, Fernando Campayo-Sanchez and Felipe Ruiz-Moreno

European Journal of Management and Business Economics, 2024, vol. 35, issue 2, 266-289

Abstract: PurposeThis article examines the impact of banks’ corporate social responsibility communication through social media (CSR-S), electronic word of mouth (eWOM), and brand reputation on consumer behavior during the COVID-19 crisis, with a focus on purchase intention.Design/methodology/approachThe study employed a quantitative approach to analyze data from a survey of 621 Egyptian bank customers who followed the banks’ social media pages and interacted with CSR-S initiatives. A genetic algorithm selected the most relevant variables affecting purchase intention. A Bayesian regression model was used to analyze the impact of CSR-S communication, eWOM, and brand reputation on purchase intention.FindingsCSR-S initiatives, eWOM, and brand reputation were found to influence customer purchase intention. CSR-S initiatives can boost purchase intention by encouraging brand reputation and initiative sharing with friends and other customers. However, CSR-S negatively moderates the positive impact of eWOM and brand reputation on the predisposition to contract products and services with the bank.Originality/valueThis study addresses critical research gaps in CSR literature. Firstly, it examines the impact of CSR-S actions on customer behavior, a perspective less explored in previous research. Secondly, it investigates the intricate relationships between CSR-S, eWOM, brand reputation, and purchase intention, shedding light on their interplay, particularly during the COVID-19 pandemic. Additionally, this research extends CSR-S investigations to the competitive banking industry and focuses on a developing country context, enhancing the applicability of findings for Egyptian banks. Lastly, the study employs advanced methodologies to improve the accuracy of results.

Keywords: Social media; Corporate social responsibility; CSR-S initiatives; COVID-19; Banking industry; Customer behavior (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eme:ejmbep:ejmbe-09-2023-0301

DOI: 10.1108/EJMBE-09-2023-0301

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