Sustainable banking in Latin American developing countries: Leading to (mutual) prosperity

This article examines multinational banks’ (MNBs) approaches to corporate social responsibility (CSR) in developing countries’ subsidiaries, particularly in Latin America. Building on in‐depth case studies of two MNBs that are based in Europe and market leaders in Latin America, we analyze their CSR...

Full description

Saved in:
Bibliographic Details
Published in:Business ethics (Oxford, England) England), 2017-10, Vol.26 (4), p.382-395
Main Authors: Forcadell, Francisco Javier, Aracil, Elisa
Format: Article
Language:English
Subjects:
Banking
Developing countries
Financial inclusion
International banking
LDCs
Legitimacy
Poverty
Social responsibility
Social well being
Sustainability
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:This article examines multinational banks’ (MNBs) approaches to corporate social responsibility (CSR) in developing countries’ subsidiaries, particularly in Latin America. Building on in‐depth case studies of two MNBs that are based in Europe and market leaders in Latin America, we analyze their CSR motivations and outcomes in host countries. We examine institutional environments by applying the national business system framework, and we suggest missing categories in its financial and educational dimensions. We theorize how institutional necessity determines MNBs' CSR in developing countries. Finally, we examine the CSR outcomes in Latin America, where banks’ responsible conduct has led to major improvements in educational levels and financial inclusion. These improvements alleviate poverty and enhance both country's social wellbeing and MNBs’ legitimacy, leading to mutual prosperity.
ISSN:0962-8770
2694-6416
1467-8608
2694-6424
DOI:10.1111/beer.12161