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THE EFFECT OF CORPORATE SOCIAL RESPONSIBILITY (CSR) ON BANKS’ FINANCIAL PERFORMANCE: A CASE STUDY ON SAUDI BANKS
Abstract
This study aims to examine the effect on corporate social responsibility (CSR) on the financial performance of Saudi banks over the period expanding from 2014 to 2019. Using a panel date regression, results show that the amount of Zakat, CSR proxy, and Zakat to net income ratio had a statistically significant and positive effect on Saudi banks financial performance measured by return on equity (ROE). This would indicate that bank business tends to be more profitable and customer become more loyal when the bank engages in CSR activities in the community.
Keywords: Corporate Social Responsibility (CSR), Saudi Banks, Panel Data Regression, Return on Equity (ROE), Financial Performance.