Banks as financial institutions play an important role in the lives of people by facilitating the flow of funds and ensuring the stability of the global economy. Recently, the world economy witnessed various financial shocks that escalated into a financial crisis between 2007 and 2009. Moral hazard, scandals, and collapses of financial institutions caused many to lose their trust on the current financial system that emphasizes profit maximization and high risk taking instead of working to keep the economy stable and healthy. This has caused many researchers to search for new alternative ways of managing the financial system, and one such alternative is social banking.   Social banks are financial institutions that differ from conventional banks by emphasizing social responsibility values instead of only focusing on profitability. There are several key differences between social and conventional banks, such as differences in asset allocation, the involvement of stakeholders in decision-making, higher levels of transparency, and additional social screening of loan applicants and investment opportunities. The purpose of social banks is to channel funds from socially-minded investors to borrowers with the right motivations.   The main purpose of this research paper is to investigate whether social banks differ from conventional banks in terms of their financial performance overall and during the financial crisis. In order to achieve this, we have adopted a quantitative strategy and gathered data from ten social and ten conventional banks from various European countries. We have used several financial ratios to measure their profitability, liquidity, and default risk, and performed linear regression to estimate the coefficients to test whether being social or conventional has an effect on these bank performance measures.   The results of our analysis reveal that, while conventional banks were able to achieve higher profitability than social banks both overall and during the financial crisis, social banks managed to maintain better liquidity than conventional banks on both occasions. Our results also reveal that social banks overall had lower risk of default than conventional banks.   Based on our results we cannot conclude that the social banking system is inherently better in all aspects than the conventional banking system. We can, however, note that social banks do have certain advantages such as better liquidity, and this suggests that the overall stability of the financial system could potentially be improved by conventional banks adopting some of the more successful practices of social banks, such as more careful screening of loan applicants and investment opportunities.

Yes / The financial crisis of 2008 provides evidence for the instability of the conventional banking system. Social banks may present a viable alternative for conventional banks. This paper analyzes the performance of social banks related to the bank business model, economic efficiency, asset quality and stability by comparing social banks with banks where the difference is likely to be large, namely with the 30 global systemically important banks (G-­SIBs) of the Financial Stability Board over the period 2000-­2014. We also analyze the relative impact of the global financial crises on the bank performance. The performance of social banks and G-­SIBs is surprisingly similar.

The financial crisis of 2008 provides evidence for the instability of the conventional banking system. Social banks may present a viable alternative for conventional banks. This paper analyzes the performance of social banks related to the bank business model, economic efficiency, asset quality and stability by comparing social banks with banks where the difference is likely to be large, namely with the 30 global systemically important banks (G-SIBs) of the Financial Stability Board over the period 2000-2014. We also analyze the relative impact of the global financial crises on the bank performance. The performance of social banks and G-SIBs is surprisingly similar.

Yes / The financial crisis of 2008 provides evidence for the instability of the conventional banking system. Social banks may present a viable alternative for conventional banks. This article analyses the performance of social banks related to the bank business model, economic efficiency, asset quality, and stability by comparing social banks with banks where the difference is likely to be large, namely with the 30 global systemically important banks (G-SIBs) of the Financial Stability Board over the period 2000–2014. We also analyse the relative impact of the global financial crisis on the bank performance. The performance of social banks and G-SIBs is surprisingly similar.

Purpose of my diploma thesis is the evaluation (rating) of Corporate Social Responsibility (CSR) in some commercial banks in the Czech Republic -- Česká spořitelna, ČSOB and KB. The evaluation of CSR is realized according to the new Czech method KORP. Data for the evalution were taken from (checklists) research, websites and CSR Report of the selected banks.

Tutte le organizzazioni hanno un impatto che riguarda l'economia, la società e l'ambiente naturale. Gli studi accademici di diversi filoni di ricerca (ad business and society studies, accounting, strategic management) propongono diverse definizioni di "impatto sociale" (Latane, 1981; Burdge & Vanclay, 1996;. Emerson et al, 2000;. Clark et al, 2004 ). Tutte queste definizioni descrivono, in modo più o meno esplicito, il concetto di "cambiamento", essendo basati sulla “teoria del cambiamento” (Weiss, 1972; Anderson, 2004) - vale a dire, il cambiamento che un'organizzazione può produrre nel modo di vivere delle persone, nella cultura, personale nelle aspirazioni, ma anche rispetto alla comunità, ai sistemi politici, l'ambiente, la salute e il benessere. La misurazione dell’impatto sociale conduce l'organizzazione a considerare i cambiamenti prodotti sugli stakeholders come risultato di una serie di rapporti causa-effetto proposteidalla teoria del cambiamento. L'obiettivo della misurazione dell’impatto sociale è quindi di capire, in termini sociali, ambientali ed economici, i cambiamenti che si sono verificati nella vita delle parti interessate, a causa di attività di organizzazioni, al fine di comunicarlo (Nicholls et al, 2009). Nonostante il crescente interesse sulla misurazione dell'impatto sociale, la produzione accademica sull'argomento è ancora scarsa. La presente tesi contribuisce alla discussione in corso, concentrandosi sulla teoria, i concetti e strumenti per misurare l'impatto sociale. In particolare, due contesti di analisi sono presi in considerazione: la finanza etica e l'educazione all'imprenditorialità. La tesi si compone di tre articoli. La prima ricerca vuole fornire una revisione della letteratura sul tema della misurazione dell'impatto sociale nel contesto della finanza etica, il secondo articolo è una ricerca-azione su una metodologia per misurare l'impatto sociale delle banche etiche sviluppata attraverso lo studio del caso estremo di Banca Popolare Etica, e la terza ricerca riguarda il contesto della formazione imprenditoriale e mira a studiare l'impatto di un programma MBA sugli antecedenti dell’intenzione all'imprenditorialità di studenti in Ghana. Più in dettaglio, il primo documento è intitolato " Review of impact assessment methodologies for ethical finance ". Questo documento fornisce una rassegna completa della letteratura sulla misurazione dell'impatto sociale nelle banche etiche. In particolare, si discute l'approccio delle banche etiche all’impatto sociale e alla misurazione dell'impatto sociale considerando diversi studi e analisi, poi proponendo un elenco di indicatori e outcomes da utilizzare per evidenziare l'impatto sociale delle attività delle banche etiche. Si segnalano, inoltre, alcune lacune nella letteratura che abbiamo posto come questioni aperte per la ricerca futura. La ricerca è stata portata avanti con due partner: la Fédération Européenne des Banques et Ethiques Alternative (FEBEA) e l’Institute of Social banks (ISB). Il titolo della seconda ricerca è: " Measurement of social impact in financial institutions: the case of Banca Popolare Etica ". Si tratta di una ricerca-azione su una metodologia per misurare l'impatto sociale delle banche etiche, fondata sul caso di studio di Banca Popolare Etica. Usiamo un set di dati composto da 1.385 organizzazioni e 1324 individui, beneficiari dei finanziamenti, per studiare la misurazione dell'impatto sociale dei progetti finanziati. Integrando in un unico processo di valutazione (sia quantitative che qualitative) diverse metodologie generalmente utilizzate singolarmente per la misurazione di impatto sociale (Social Return on Investment (SROI), Impact Reporting Investment Standards (IRIS) e storytelling), il caso mostra come i limiti tradizionali di metodologie per misurare l'impatto sociale possono essere superati. Il terzo e ultimo studio è intitolato " Does entrepreneurial education impact on antecedents of entrepreneurial intention? An analysis of an Entrepreneurship MBA in Ghana". Questo studio ha lo scopo di analizzare gli effetti di un programma di educazione all'imprenditorialità, sugli antecedenti dell'intenzione imprenditoriale di studenti in un paese in via di sviluppo. Lo studio analizza i risultati di una ricerca di impatto eseguita con partecipanti di uno specifico programma di formazione all'imprenditorialità: il "E4impact MBA", tenuto dal l'Istituto Cattolico di Business and Technology - CIBT in Accra, Ghana. Il metodo misto impiegato, era un approccio esplicativo (Creswell, Plano Clark et al, 2003), con un disegno quasi-sperimentale (Cohen e Manion, 1989) con test pre e post e misure di cambiamento auto-percepito. Abbiamo valutato i cambiamenti nelle caratteristiche psicologiche imprenditoriali (Need for achievement, Self-efficacy, Locus of control; Risk taking propensity; Tolerance for ambiguity) e competenze e conoscenze personali (Creatività, Conoscenza, Flessibilità, Networking e analisi) sul modello esteso della Teoria del Comportamento Pianificato. L'analisi mostra che il programma di educazione all'imprenditorialità ha un forte impatto sugli antecedenti psicologici e cognitivi delle intenzioni imprenditoriali. Quindi, la partecipazione al programma di educazione all'imprenditorialità può influenzare positivamente le intenzioni imprenditoriali degli studenti e il controllo comportamentale percepito sostenendo l'idea che le università hanno un ruolo fondamentale nel plasmare e promuovere le intenzioni imprenditoriali e le abilità attraverso programmi di formazione all'imprenditorialità. / All organizations have impacts that affect economy, society and the natural environment. Academics from different streams of research (i.e. business and society studies, accounting, strategic management) propose several definitions of “social impact” (Latané, 1981; Burdge & Vanclay, 1996; Emerson et al., 2000; Clark et al., 2004). All these definitions describe, more or less explicitly, the concept of “change”, being each one based on the Theory of Change (Weiss, 1972; Anderson, 2004) – i.e., the change that an organization can produce in people’s way of life, culture, personal and property rights, fears and aspirations, but also with respect to community, political systems, environment, health and wellbeing. The measurement of social impact leads the organization to consider the changes on stakeholders as a result of the set of cause-effect relations proposed by the theory of change. The objective of social impact measurement thus is to understand, in social, environmental and economic terms, changes that have occurred in stakeholders’ lives because of organizations activities, in order to communicate it (Nicholls et al, 2009). Despite a growing interest on social impact measurement, academic production in the topic is still scarce. The present Ph.D. thesis contributes to the ongoing discussion by focusing on the theory, concepts and tools to measure social impact. In particular, two context of analysis are at issue: ethical finance and entrepreneurship education. The work consists of three papers. The first research wants to provide a review of the literature on the issue of measuring the social impact in the context of ethical finance, the second paper is an action research on a methodology for measuring the social impact of ethical banks developed through the extreme case study of Banca Popolare Etica, and the third research concerns the context of entrepreneurial education and aims at studying the impact of an MBA program on the antecedents of entrepreneurship intention of students in Ghana. More in details, the first paper is entitled “Review of impact assessment methodologies for ethical finance”. This paper provides a comprehensive review of the literature on measuring the social impact in ethical banks. Specifically, we discuss the approach of ethical banks to social impact and social impact measurement considering several studies and frameworks of analysis, then proposing a list of indicators and outcomes to be used to highlight the social impact of ethical banks’ activities. We also point out some gaps in the literature that we left as questions open for future research. The research was carried on with two partners: the Fédération Européenne des Banques Ethiques et Alternatives (FEBEA) and the Institute of Social banks (ISB). The title of the second paper is: “Measurement of social impact in financial institutions: the case of Banca Popolare Etica”. This is an action research on a methodology for measuring the social impact of ethical banks, grounded on the case study of Banca Popolare Etica. We use a dataset of 1,385 organizations and 1,324 individuals, recipients of funding, to study the measurement of the social impact of the projects funded. Integrating in a single assessment process (both quantitative and qualitative) various methodologies generally singularly used for the measurement of social impact (Social Return on Investment (SROI), Impact Reporting Investment Standards (IRIS) and storytelling), the case shows how the traditional limitations of methodologies to measure social impact can be overcome. The third and last study is entitled “Does entrepreneurial education impact on antecedents of entrepreneurial intention? An analysis of an Entrepreneurship MBA in Ghana”. This study has the aim to analyze the effects of an entrepreneurship education program, on the antecedents of entrepreneurial intention of students in a developing country. The study analyzes the results of an impact research conducted with participants to a specific entrepreneurship education program: the “E4impact MBA”, held by the Catholic Institute of Business and Technology – CIBT in Accra, Ghana. The mixed method design employed, was an explanatory approach (Creswell, Plano Clark et al., 2003) with a quasi-experimental design (Cohen and Manion, 1989) featuring both pre-post tests and self-perceived change measures. We assessed changes in entrepreneurial psychological characteristics (Need for achievement, Self-efficacy, Locus of control; Risk taking propensity; Tolerance for ambiguity) and personal skills and knowlwdge (Creativity, Knowledge, Flexibility, Networking and Analysis) following the extended model of the Theory of Planned Behaviour. The analysis shows that the entrepreneurship education program has a strong impact on psychological and cognitive antecedents of entrepreneurial intentions. That is, participation in entrepreneurship education program can positively influence students’ entrepreneurial intentions and perceived behavioral control supporting the idea that universities have a key role in shaping and fostering entrepreneurial intentions and abilities through entrepreneurship education program.

Nel primo capitolo si propone una rassegna della letteratura di ambito economico e manageriale in tema di Responsabilità Sociale d’Impresa (RSI). Successivamente, si identificano le peculiarità degli attori operanti nel settore bancario etico. Infine, si comparano i risultati degli studi sul comportamento delle banche etiche con quelli disponibili sulle banche tradizionali. Il secondo capitolo confronta le condizioni di rifinanziamento delle banche sociali con quelle delle banche standard, quando le prime dispongono di informazioni private sulla qualità dei clienti. Ciò comporta il noto problema dell’hold-up, che tuttavia può essere attenuato dai costi delle peculiari attività di selezione e monitoraggio delle banche etiche. Ne risulta che, indipendentemente dalla qualità del cliente, le banche standard potrebbero offrire condizioni di prestito più vantaggiose di quelle delle banche etiche. Il terzo capitolo usa un modello spaziale per descrivere come le banche sociali e standard definiscono i loro tassi di interesse quando competono nel mercato dei depositi e dei prestiti. Come suggerisce l’evidenza empirica, i risparmiatori delle banche sociali sono disposti ad accettare tassi più bassi di quelli del mercato. Pertanto, si determinano le condizioni per cui ciò si verifica e si studia quando questo è compatibile con tassi più bassi anche sui prestiti. / In the first chapter, we begin with a survey on Corporate Social Responsibility (CSR) in economics, management and business literatures. Then we identify the peculiarities of the agents operating in the social banking sector. Thereafter, we compare and contrast the contributions focused on the behavior of social banks with those available on traditional lenders. The second chapter compares the refinancing behavior of social banks with that of standard lenders when the former have inside information on the quality of the borrowers. This entails the renowned hold-up problem which, however, can be mitigated by the costs of the ethical screening and monitoring activities of social banks. As a result, standard banks may offer better loan contracts and attract high quality borrowers. The third chapter proposes a spatial competition model to investigate how standard and social banks set their interest rates when they compete in the deposit and loan markets. As the empirical evidence suggests, social depositors are willing to accept returns lower than the market level. Therefore we determine under which conditions social banks pay deposit rates lower than those of standard banks and when this is compatible with lower rates also on loans.