Impact of Corporate Social Responsibility on Customer Satisfaction and Retention: Evidence from the Banking Sector of Pakistan
Journal Title: International Journal of Financial Economics - Year 2016, Vol 5, Issue 1
Abstract
This study explores the impact of five dimensions of Corporate Social Responsibility on customer satisfaction and retention in the banking sector of Pakistan. The conceptual framework has been developed using five dimensions of CSR i.e. economic, legal, ethical, philanthropy and environmental CSR to interpret their impact on customer satisfaction and retention. A sample of 350 respondents has been selected to collect data for this study. Descriptive, regression and correlation analysis have been done using SPSS. The findings show that CSR practices adopted by banking sector of Pakistan have a positive impact on customer satisfaction and customer retention. Thus, by improving CSR practices, the banking sector of Pakistan can have more satisfying and long term customer base. Bank managers should have effective CSR policies in place, which will encourage customers to perceive the bank more favorably. The conclusion draws implications for future research and CSR policy making.
Authors and Affiliations
Muhammad Ali Jibran Qamar, Sameen Masood, Tehreem Junaid
Keywords
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