CABEZA-GARCIA, Laura; MARTINEZ-CAMPILLO, Almudena    MARBELLA-SANCHEZ, Federico. Corporate social responsibility and business performance: the case of social work at spanish savings banks. []. , 20, 37, pp.33-46. ISSN 0121-5051.

Social work constitutes one of the fields for the application of Corporate Social Responsibility in the realm of savings banks. Therefore, based on the theoretical framework that explains the nature of the relationship between carrying out activities of a social nature and financial results, the objective of this work is to analyze the effect of investment in social work on the performance of Spanish savings banks. After applying a dynamic model of panel data (GMM), and after controlling for the problem of endogeneity, the findings suggest a negative and significant influence on the level of profitability, both economic and financial. Therefore, our results validate the hypothesis of the trade-off in the financial sub-sector of Spanish savings banks.

: social work; CSR; profitability; savings banks; GMM.

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