The Impact of Corporate Social Responsibility Practices on Customer Value Co-Creation and Perception in the Digital Context: A Case Study of Taiwan Bank Industry

Shu Yang, Yidan Huang (), Hsin-Yi Chan and Cheng-Hsueh Yang
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Shu Yang: Business School, Huaqiao University, Quanzhou 362000, China
Yidan Huang: Business School, Huaqiao University, Quanzhou 362000, China
Hsin-Yi Chan: Department of Business Administration, Minghsin University of Science and Technology, Hsinchu 30401, Taiwan
Cheng-Hsueh Yang: Department of Business Administration, Minghsin University of Science and Technology, Hsinchu 30401, Taiwan

Sustainability, 2023, vol. 15, issue 11, 1-13

Abstract: The rapid development of digitalization has introduced greater variability and trust-related risks to the banking industry. Enhancing customers’ perception of value co-creation with banks is a critical issue that requires attention. This study aims to explore the impact and mechanism of a bank’s social responsibility practices on its customers’ value co-creation in the digital context. A cross-level analysis model was developed and analyzed based on in-depth surveys of 30 bank managers and 262 valid customers. The results reveal that (1) CSR practices have no impact on customer value co-creation in the digital context; (2) CSR practices have a positive impact on customers’ perception of a company’s social responsibility; (3) customers’ perception of a company’s social responsibility has a positive impact on customer value co-creation; and (4) customers’ perception plays a mediating role between CSR practices and customer value co-creation. Although corporate social responsibility is becoming increasingly important in the current digital economy, our study found that it does not necessarily lead to more customer value co-creation. Banks must enable customers to perceive their CSR practices in order to foster value co-creation. This study has important implications for banking practitioners seeking to strengthen their social responsibility practices and create value with their customers in the digital era.

Keywords: digitization; corporate social responsibility practices; customer perception; value co-creation (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
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