Socially responsible lending in times of crisis

an exploratory study of Australasian banking practice

Thomas Kern, Nicholas McGuigan

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

This paper provides an exploratory study of how socially responsible Australasian banking corporations are and if recent events, such as the global financial crisis, have enabled them to learn lessons in regards to responsible lending practice. Evidence was gained primarily through an analysis of corporate disclosures of two major Australasian banking corporations operating in New Zealand. The data were analysed to see if a change in lending practice occurred to be more in line with corporate social responsibility (CSR). The findings suggest a strong verbal commitment to CSR by the banking corporations, even through tough economic times. However, only when specific goals, achievements and their relation to the overall sustainability agenda are disclosed in a consistent and continuous manner, will real social and responsible banking practice occur. This paper adds to the limited literature of CSR reporting in the financial sector, informing from a public policy perspective on disclosure of banking corporations’ lending practices, thus contributing to a global dialogue on CSR within the financial industry.
Original languageEnglish
Title of host publicationSocially responsible and sustainable business around the globe
Subtitle of host publicationthe new age of corporate social responsibility
EditorsJonathan H Westover
Place of PublicationChampaign, Ill.
PublisherCommon Ground Publishing
Pages370-388
Number of pages19
ISBN (Print)9781612290805
Publication statusPublished - 2013

Bibliographical note

Reprint of International journal of environmental, cultural, economic and social sustainability, Vol. 6, issue 4, pp. 107-124 (2010).

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