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

• Published in: Sustainability Vol. 15; no. 11; p. 8567
• Main Authors: Yang, Shu, Huang, Yidan, Chan, Hsin-Yi, Yang, Cheng-Hsueh
• Format: Journal Article
• Language: English
• Published: Basel MDPI AG 25.05.2023
• Subjects: Banking industry; Banks; Case studies; Corporate social responsibility; Credit cards; Customer services; Customers; Digitization; Industrial development; Internet; Morality; Perception; Service industries; Social aspects; Social capital; Social responsibility; Taiwan
• ISSN: 2071-1050; 2071-1050
• DOI: 10.3390/su15118567

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.