AN INVESTIGATION INTO THE CORPORATE SOCIAL RESPONSIBILITY PRACTICES AT VIETABANK Word count: 11,695 words. Student name: Nguyen Nhat Phu Intake: Vietnam Cohort 16 Student ID: NNP2OCD Supervisor: Mathew Shafaghi. Date of submission: 1 May 2023. Abstract Purpose - The aim of this dissertation is to provide insights into the state of CSR at VietABank: how it is conducted and its benefit in enhancing the brand.
Through which, we may be able to extrapolate the state of CSR of the wider banking industry in Vietnam. In addition, the link between consumer perception of CSR and the brand equity will also be reviewed. Research methodology - This dissertation uses mixed-methods research approach, which comprises of the usage of both qualitative and quantitative methods in a study. The data collections and analyzation process will involve It involves interviewing VietABank‟s personnel on the CSR initiatives and strategy of the firm.
Then the author will conduct a survey on both customers and non-customers of VietABank to measure whether CSR improves brand equity in the context of Vietnam or not. Findings – From interviewing the personnels and management of VietA bank, it is clear that the bank does engage in socially responsible activities. However, it does not have a clear CSR strategy with concrete goals. Most of the repsonsibilties were done informally and intuitively, fitting with previous researches on SMEs‟ CSR involvement.
Despite its lack of a formal CSR strategy, as the link between consumer perception of CSR and brand equity suggested, consumers does seem to be aware of and take the bank‟s efforts in high regard. Practical Implications – A practical look into the CSR practices of a Vietnamese bank. The dissertation was also able to confirm the link between consumer perception of CSR and brand equity in the context of Vietnam. Originality/value – This dissertation provides a detailed look into the CSR practices of a mid-sized Vietnamese bank, providing a baseline for the wider CSR environment of Vietnam.
Acknowledgement Firstly, I would like to thanks my supervisor, Mathew Shafaghi, for providing me with support and guidance during the process of completing this dissertation. I would also like to thanks my family and friends for their continuous support over the years. Finally, I would like to thanks VietABank for providing me with the opportunity to research this topic. 4 Chapter One: Introduction.
7 Rationale for the dissertation. 9 The state of CSR in the banking industry in Vietnam. 12 Chapter Two: Literature Review. 13 Corporate Social Responsibility:.
13 Resources-based view of CSR:. 15 Consumer perception of CSR. 19 Brand equity dimensions:. 20 Brand equity measures:.
21 CSR and brand equity. 23 Chapter Three: Research methodology. 32 Reliability and validity. 33 Data collection techniques.
34 Chapter Four: Findings. 36 VietABank‟s CSR initiatives and strategy:. 40 Consumer perception of CSR on brand equity:. 41 Structural model assessment.
42 Chapter Five: Conclusions and Recommendations. 55 Chapter One: Introduction Introduction Over the past decades, there has been a shift in perspective on the role of corporations in society. While the economic and financial duties of firms toward their stakeholders are still relevant, firms are now ascribed non-economic responsibilities that were previously outside of their purview (Moon, 2014). They are expected to contribute toward solving some of society‟s most urgent challenges such as global warming and labor rights.
In some countries, CSR has extended from a voluntary activity into a legal mandate, with efforts by governmental bodies to establish guidelines on CSR and sustainable business practices (European Parliament, 2021; Steurer, 2010). From multinational famous corporations such as Nike to smaller local enterprises, every firm engages in socially responsible activities in some form. Facing increasing pressure to adopt corporate social responsibility (CSR) activities, managers and researchers are paying increasing attention to CSR and its impact on the organizational level. Aside from supporting society, firms engage in CSR for their own benefit.
Numerous studies have found that CSR has direct and indirect impacts on firm performance through obtaining consumer awareness and building up a favorable brand image and reputation (Orlitzky et al., 2003; Kotler and Lee, 2005; Du et al.