EFFECTS OF CORPORATE SOCIAL RESPONSIBILITY STRATEGIES ON PERFORMANCE OF COMMERCIAL BANKS KENYA
Abstract
The purpose of the study was to identify the effect of corporate social responsibility strategies on performance of commercial banks in Kenya. The target population was 200 respondents from the 42 commercial banks. A descriptive design was adopted for the study. Data was analysed by the use of descriptive statistics and inferential statistics using SPSS which were presented using mean, standard deviation and percentages. The analysis was visually displayed using frequency tables. It was notable that there existed a relationship between independent variables and dependent variable with a correlation coefficient of 0.759. The coefficient of determination was between zero and one. The data showed that the high R square was 0.576. It showed that the independent variables in the study were able to explain 57.60% variation in the performance of commercial banks while the remaining 42.40% was explained by the variables or other aspects outside the model. This implied that these variables were very significant and they therefore needed to be considered in any effort to boost performance of commercial banks. The findings demonstrated the important factors to enhancement of performance of commercial banks to include adoption of corporate responsibility strategy such as support innovation strategy, community development strategy and support entrepreneurship strategy. The current study should therefore be expanded further in future in order to determine the effect of other corporate social responsibility strategies on performance of commercial banks in Kenya. Existing literature indicated that as a future avenue of research, there was need to undertake similar research in other government institutions and public sector organizations in Kenya and other countries in order to establish whether the explored factors could be generalized to affect performance of the financial institutions.
Key Words: Innovation Strategy, Community Development Strategy, Environmental Initiatives, Support Entrepreneurship Strategy
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DOI: http://dx.doi.org/10.61426/sjbcm.v4i4.611
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