Corporate Social Responsibility (CSR) in banking: what we know, what we don't know, and what we should know

[Introduction] The international media is awash with tales of banking scandals ranging from money laundering and rogue trading to interest rate fixing and potential criminal indictment (McDonald, 2012). Coupled with the fallout from the recent international financial crisis, banks have experienced a loss of credibility (Bravo, Matute and Pina, 2012). In the wake of the crisis, the banking industry has been perceived as possessing serious moral flaws and as having engaged in wild speculation (Bennett and Kottasz, 2012). In a recent 34-country survey, financial and banking institutions were ranked alongside the resources sector as industries least likely to behave in a responsible way towards society (European Commission, 2013). The intense media and public scrutiny focused on the banking industry means that banks are increasingly concentrating on protecting their reputational assets (Soana 2011) and image (Bravo et al., 2012). One of the main avenues for banks to improve their corporate image and re-engage with communities is via a corporate social responsibility (CSR) programme (Pomering and Dolnicar 2009). Banks use CSR as a form of impression management to shape public perceptions and to maintain or create organizational legitimacy (Perez and del Bosque, 2012). For the financial sector, where customer involvement with the service is high, CSR not only positively influences perceptions of the bank, but also service evaluations (Matute-Vallejo, Bravo and Pina, 2011). For banks, involvement in CSR creates customer liking of the bank, positively impacting its reputation for caring (Marin and Ruiz, 2007). CSR also improves banks’ financial performance and reduces potential risks (de la Cuesta-González, Muñoz-Torres and Fernández-Izquierdo, 2006). The emphasis on CSR as part of a long-term strategy to regain lost reputation and reshape public perceptions accentuates the potential value that may accrue from a review of research findings on CSR practised by banks internationally. This is especially timely as Soana (2011) warns that research results for CSR activities cannot be generalized to all markets and sectors. Consequently, this chapter aims to conduct an integrative review of international empirical research on CSR in the banking industry. The primary goal of an integrative review is to summarize the accumulated state of knowledge concerning the topic of interest and to highlight important issues that research has left unresolved (Taveggia 1974). The first step in such an investigation is to define the domain of the construct under examination (Albaum and Petersen 1984), in this case, corporate social responsibility (CSR). The second step in the integrative review is to delimit the area of investigation, which is conducted via an analysis of literature published in the research domain (Albaum and Petersen 1984). This research will investigate CSR in banking, conducted via a review of journal articles empirically investigating CSR in the bank marketing literature. Although CSR research is a relatively recent phenomenon, a 20-year period was investigated to ensure that early empirical CSR research in banking was included. The third step is to summarise the cumulative findings. Therefore, this review has several objectives. To identify: 1. The specific topics and areas that are being investigated, the populations being studied, and the methodologies being employed. 2. The key findings of this research. 3. The specific knowledge gaps that exist, indicating potential future research directions. As the third objective seeks to make evident what we should know, after a discussion of the findings, which highlights several important areas that research has left unresolved, this chapter concludes with suggestions for future research directions

Developing public disaster communication for volunteer recruitment: understanding volunteer motivations

Understanding spontaneous volunteers Spontaneous volunteers who converge on disaster areas play a critical response role, often being first on the scene and typically trusted by victims (Fulmer, Portelli, Foltin, Zimmerman, Chachkes, and Goldfrank, 2007). The term 'spontaneous volunteers' refers to individuals who provide assistance immediately following a disaster (Lowe and Forthergill, 2003). The sometimes overwhelming number of spontaneous volunteers, from both within and outside the disaster-affected community, poses significant challenges for disaster relief and recovery services (Barraket, Keast, Newton, Walters, and James, 2013). Characteristically, as spontaneous volunteers are seen to hinder relief efforts, government and emergency management agencies resist harnessing this workforce (Drabek and McEntire, 2003). Yet these untrained volunteers are integral to accomplishing many disaster recovery tasks (Barsky, Trainor, Torres, and Aguirre, 2007). Indeed, most response work is carried out by community members who are present or nearby during a disaster (Lowe and Fothergill, 2003). Designing communication that stimulates people to volunteer to assist community recovery efforts in large-scale emergencies is therefore crucial (Palttala and Vos (2011). To most effectively assist recovery efforts, this workforce needs to be instructed on how best to assist and be deployed to areas most needing assistance. In order to effectively recruit and manage this workforce, understanding spontaneous volunteers and their motivations is critical to establishing effective disaster communication plans (Lowe and Fothergill, 2003; Palttala and Vos, 2011). Since disasters often generate powerful emotions and different responses (Beyerlein and Sikkink, 2008), understanding emotions’ role in motivating behavior is important. Although emotion is intensely researched in other domains (e.g., organizational psychology, management, marketing), its influence has received little attention in volunteering and disaster research. In parallel with volunteer convergence onto physical disaster sites, convergence behavior is now evident on-line (Hughes, Palen, Sutton, Liu, and Vieweg, 2008). In the 2011 Brisbane floods, many individuals used social media such as Facebook and Twitter not only to exchange information, but for coordinating relief efforts (Knaus, 2011). The actual and potential use of social media in disasters has generated intense interest evidenced by a small, but burgeoning body of literature (Alexander, 2013). The use of social media as a method of communication and information exchange has been studied in 2011 Brisbane flood research (e.g., Barraket et al., 2013; Cheong and Cheong, 2011), but investigation of social media used by individuals for volunteer recruitment has only recently attracted research attention (e.g., Macias, Hilyard, and Fremuth, 2009; Jones, 2013). The widespread adoption and use of social media by members of the public during disasters (Alexander, 2013) suggest that social media is increasingly critical to future disaster management and relief efforts. Further, with the increasing use of online social networks in disaster volunteering, it is important to understand how – or whether – social media affects the interpersonal bonds known to influence volunteer recruitment. Consequently, this research investigates the factors motivating the spontaneous volunteering behavior of the 'Mud Army' following the 2011 Brisbane floods. As anecdotal evidence suggests that many volunteers used social media to co-ordinate volunteering efforts via the extended friendship network that is Facebook, the research also examines the role of social media in volunteer recruitment. This chapter concludes with implications for disaster communication

Thoracic Society of Australia and New Zealand position statement on acute oxygen use in adults : 'swimming between the flags'

Oxygen is a life-saving therapy but, when given inappropriately, may also be hazardous. Therefore, in the acute medical setting, oxygen should only be given as treatment for hypoxaemia and requires appropriate prescription, monitoring and review. This update to the Thoracic Society of Australia and New Zealand (TSANZ) guidance on acute oxygen therapy is a brief and practical resource for all healthcare workers involved with administering oxygen therapy to adults in the acute medical setting. It does not apply to intubated or paediatric patients. Recommendations are made in the following six clinical areas: assessment of hypoxaemia (including use of arterial blood gases); prescription of oxygen; peripheral oxygen saturation targets; delivery, including non-invasive ventilation and humidified high-flow nasal cannulae; the significance of high oxygen requirements; and acute hypercapnic respiratory failure. There are three sections which provide (1) a brief summary, (2) recommendations in detail with practice points and (3) a detailed explanation of the reasoning and evidence behind the recommendations. It is anticipated that these recommendations will be disseminated widely in structured programmes across Australia and New Zealand

Neurodevelopmental and Epilepsy Phenotypes in Individuals With Missense Variants in the Voltage-Sensing and Pore Domains of KCNH5

Background and Objectives KCNH5 encodes the voltage-gated potassium channel EAG2/Kv10.2. We aimed to delineate the neurodevelopmental and epilepsy phenotypic spectrum associated with de novo KCNH5 variants.Methods We screened 893 individuals with developmental and epileptic encephalopathies for KCNH5 variants using targeted or exome sequencing. Additional individuals with KCNH5 variants were identified through an international collaboration. Clinical history, EEG, and imaging data were analyzed; seizure types and epilepsy syndromes were classified. We included 3 previously published individuals including additional phenotypic details.Results We report a cohort of 17 patients, including 9 with a recurrent de novo missense variant p.Arg327His, 4 with a recurrent missense variant p.Arg333His, and 4 additional novel missense variants. All variants were located in or near the functionally critical voltage-sensing or pore domains, absent in the general population, and classified as pathogenic or likely pathogenic using the American College of Medical Genetics and Genomics criteria. All individuals presented with epilepsy with a median seizure onset at 6 months. They had a wide range of seizure types, including focal and generalized seizures. Cognitive outcomes ranged from normal intellect to profound impairment. Individuals with the recurrent p.Arg333His variant had a self-limited drug-responsive focal or generalized epilepsy and normal intellect, whereas the recurrent p.Arg327His variant was associated with infantile-onset DEE. Two individuals with variants in the pore domain were more severely affected, with a neonatal-onset movement disorder, early-infantile DEE, profound disability, and childhood death.Discussion We describe a cohort of 17 individuals with pathogenic or likely pathogenic missense variants in the voltage-sensing and pore domains of Kv10.2, including 14 previously unreported individuals. We present evidence for a putative emerging genotype-phenotype correlation with a spectrum of epilepsy and cognitive outcomes. Overall, we expand the role of EAG proteins in human disease and establish KCNH5 as implicated in a spectrum of neurodevelopmental disorders and epilepsy.</p

Preventing Violence in Seven Countries: Global Convergence in Policies

Do governments take the measures that are supported by the best scientific evidence available? We present a brief review of the situation in: Australia, Canada, Germany, the Netherlands, Spain, the United Kingdom, and the United States. Our findings show surprisingly similar developments across countries. While all seven countries are moving towards evidence-based decision making regarding policies and programs to prevent violence, there remain a number of difficulties before this end can be achieved. For example, there continue to be few randomized controlled trials or rigorous quasi-experimental studies on aggression and violence. Results from experimental research are essential to both policy makers and researchers to determine the effectiveness of programs as well as increase our knowledge of the problem. Additionally, all noted that media attention for violence is high in their country, often leading to management by crisis with the result that policies are not based on evidence, but instead seek to appease public outrage. And perhaps because of attendant organizational problems (i.e., in many countries violence prevention was not under the guise of one particular agency or ministry), most have not developed a coordinated policy focusing on the prevention of violence and physical aggression. It is hypothesized that leaders in democratic countries, who must run for election every 4 to 6 years, may feel a need to focus on short-term planning rather than long-term preventive policies since the costs, but not the benefits for the latter would be incurred while they still served in office. We also noted a general absence of expertise beyond those within scientific circles. The need for these ideas to be more widely accepted will be an essential ingredient to real and sustaining change. This means that there must be better communication and increased understanding between researchers and policy makers. Toward those ends, the recent establishment of the Campbell Collaboration, formed to provide international systematic reviews of program effectiveness, will make these results more available and accessible to politicians, administrators and those charged with making key policy decision

Finishing the euchromatic sequence of the human genome

The sequence of the human genome encodes the genetic instructions for human physiology, as well as rich information about human evolution. In 2001, the International Human Genome Sequencing Consortium reported a draft sequence of the euchromatic portion of the human genome. Since then, the international collaboration has worked to convert this draft into a genome sequence with high accuracy and nearly complete coverage. Here, we report the result of this finishing process. The current genome sequence (Build 35) contains 2.85 billion nucleotides interrupted by only 341 gaps. It covers ∼99% of the euchromatic genome and is accurate to an error rate of ∼1 event per 100,000 bases. Many of the remaining euchromatic gaps are associated with segmental duplications and will require focused work with new methods. The near-complete sequence, the first for a vertebrate, greatly improves the precision of biological analyses of the human genome including studies of gene number, birth and death. Notably, the human enome seems to encode only 20,000-25,000 protein-coding genes. The genome sequence reported here should serve as a firm foundation for biomedical research in the decades ahead

Effect of angiotensin-converting enzyme inhibitor and angiotensin receptor blocker initiation on organ support-free days in patients hospitalized with COVID-19

IMPORTANCE Overactivation of the renin-angiotensin system (RAS) may contribute to poor clinical outcomes in patients with COVID-19. Objective To determine whether angiotensin-converting enzyme (ACE) inhibitor or angiotensin receptor blocker (ARB) initiation improves outcomes in patients hospitalized for COVID-19. DESIGN, SETTING, AND PARTICIPANTS In an ongoing, adaptive platform randomized clinical trial, 721 critically ill and 58 non–critically ill hospitalized adults were randomized to receive an RAS inhibitor or control between March 16, 2021, and February 25, 2022, at 69 sites in 7 countries (final follow-up on June 1, 2022). INTERVENTIONS Patients were randomized to receive open-label initiation of an ACE inhibitor (n = 257), ARB (n = 248), ARB in combination with DMX-200 (a chemokine receptor-2 inhibitor; n = 10), or no RAS inhibitor (control; n = 264) for up to 10 days. MAIN OUTCOMES AND MEASURES The primary outcome was organ support–free days, a composite of hospital survival and days alive without cardiovascular or respiratory organ support through 21 days. The primary analysis was a bayesian cumulative logistic model. Odds ratios (ORs) greater than 1 represent improved outcomes. RESULTS On February 25, 2022, enrollment was discontinued due to safety concerns. Among 679 critically ill patients with available primary outcome data, the median age was 56 years and 239 participants (35.2%) were women. Median (IQR) organ support–free days among critically ill patients was 10 (–1 to 16) in the ACE inhibitor group (n = 231), 8 (–1 to 17) in the ARB group (n = 217), and 12 (0 to 17) in the control group (n = 231) (median adjusted odds ratios of 0.77 [95% bayesian credible interval, 0.58-1.06] for improvement for ACE inhibitor and 0.76 [95% credible interval, 0.56-1.05] for ARB compared with control). The posterior probabilities that ACE inhibitors and ARBs worsened organ support–free days compared with control were 94.9% and 95.4%, respectively. Hospital survival occurred in 166 of 231 critically ill participants (71.9%) in the ACE inhibitor group, 152 of 217 (70.0%) in the ARB group, and 182 of 231 (78.8%) in the control group (posterior probabilities that ACE inhibitor and ARB worsened hospital survival compared with control were 95.3% and 98.1%, respectively). CONCLUSIONS AND RELEVANCE In this trial, among critically ill adults with COVID-19, initiation of an ACE inhibitor or ARB did not improve, and likely worsened, clinical outcomes. TRIAL REGISTRATION ClinicalTrials.gov Identifier: NCT0273570

Corporate social responsibility and bank customer satisfaction: a research agenda

Purpose – While the positive effects of CSR are well documented, there has been little research seeking to understand the effects of CSR initiatives on customer satisfaction. A research agenda is proposed which evaluates the likely impact on customer satisfaction of CSR initiatives versus other more customer-centric initiatives. Further, a hierarchy of customer-preferred CSR initiatives is proposed for evaluation. Approach – This paper reviews the literature on CSR effects and satisfaction, noting gaps in the literature. A series of propositions is put forward to guide future research endeavours. Research implications – By understanding the likely impact on customer satisfaction of CSR initiatives vis-à-vis customer-centric initiatives, the academic research community can assist managers to understand how to best allocate company resources in situations of low customer satisfaction. Such endeavours are managerially relevant and topical. Researchers seeking to test the propositions put forward in this paper would be able to gain links with, and possibly attract funding from, banks to conduct their research. Such endeavours may assist researchers to redefine the stakeholder view by placing customers at the centre of a network of stakeholders. Practical implications – An understanding of how to best allocate company resources to increase the proportion of satisfied customers will allow bank marketers to reduce customer churn and hence increase market share and profits. Originality/value – Researchers have not previously conducted a comparative analysis of the effects of different CSR initiatives on customer satisfaction, nor considered whether more customer-centric initiatives are likely to be more effective in increasing the proportion of satisfied customers

Use of different corporate social responsibility (CSR) initiatives as a crisis mitigation strategy

There is a growing body of academic research on the importance of corporate social responsibility (CSR) initiatives in promoting positive consumer reactions. However, research on whether these initiatives mitigate negative consumer reactions to a company crisis is almost non-existent. In addition, no research appears to have compared the effectiveness of different CSR initiatives. Using attribution theory, I contend that in a product-harm crisis, different initiatives may differentially impact consumer attributions, emotions, attitudes and behavioural intents. I further apply the construct of involvement to CSR research, contending that higher consumer involvement with the initiative would result in a more positive crisis outcome