Corporate Social Responsibility and Financial Performance in Italian Co-Operative Banks

Authored by: Eleonora Broccardo , Ericka Costa , Maria Mazzuca

Routledge Handbook of Social and Sustainable Finance

Print publication date:  June  2016
Online publication date:  June  2016

Print ISBN: 9781138777545
eBook ISBN: 9781315772578
Adobe ISBN: 9781317678830


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In recent years, banking systems have undergone profound transformation, moving away from a relationship banking model toward a more standardized and impersonal model (Ayadi, Llewellyn, Schmidt, Arbak, & De Groen, 2010). Co-operative banks (hereafter CBs) have been relatively less involved, showing sustainability and resilience to financial shocks compared to commercial and investment banks (Draghi, 2009; European Association of Co-operative Banks [EACB], 2010a). Today, CBs continue to constitute an important segment of the European and Italian banking sectors. In Europe, CBs represent almost 4,000 banks and hold an average market share of around 20% (EACB, 2013). Out of 684 banks in Italy, 422 were popular banks and co-operative credit banks; of those, 385 (over 90%) were CBs (Bank of Italy, 2013).

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