The corporate social responsibility of foreign banks in jordan- stakeholders' perspectives
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This research comprehensively examines the practices of CSR from the host country stakeholder’s perspective. The study was conducted on five stakeholder groups (NGOs, customers, managers, employees, government regulators) of three foreign banks operating in Jordan. The dissertation has consisted of 6-chapters, in the introduction, the dissertation provides an overview of the author motivation to address the chosen topic and justifies his choice and why the author is investigating the Jordanian banking system. Also, why analyzing the foreign-owned banks within the Jordanian banking system and in general, explaining what the author is writing about and why. On the other hand, identifying the research problem and discuss the research aims, objectives and hypotheses. Chapter 2. Discusses the CSR concept from a global perspective, and reviewing the idea at the regional level, particularly in the Middle East region. Then the research proceeds with discussions on the topic at the national level and cites its growing importance in the Jordanian context. Moreover, it provides an assessment of the nature of CSR initiatives at the corporate level and sheds light on the banking sector CSR practices. Chapter 3 discusses the research methodology, where both qualitative and quantitative research methods have been utilized in a mixed methodology approach. In-depth-interviews were conducted with three CSR managers representing the three banks under the study and six employees working in the bank's CSR departments and two officials from the central bank of Jordan. Questionnaire data were collected from 721 respondents of foreign bank customers and community NGO groups. Chapter 4 the research presented the finding and results of answering the research questions.Different types of statistics were used includes cluster analysis, factor analysis, and provided Frequencies and Percentages, Means, and standard deviation for items; also, cross-tabulation and Independent T-test were employed to rank respondent's answers and test hypothesis. Chapter 5, the research provides conclusions and recommendations based on the analysis of the results, and finally chapter 6 described the research novel contribution. Overall, the research concluded that the foreign bank's stakeholders in Jordan stand in line with the idea of CSR and show some positive attitude towards CSR of foreign banks. They consider CSR as an essential issue that enhances banks' reputation and increased banking market share. Furthermore, they view the foreign bank's subsidiaries in Jordan as distinguished financial intuitions that should subscribe to the idea of CSR based on their heritage and culture, when compared to their local counterparts. Accordingly, they were supporting the foreign bank's CSR activities and concerned more about the community involvement dimension. This general perception reinforced the importance of CSR and showed the need for foreign banks in Jordan to meet their stakeholder's expectations and engage more in CSR activities if they want to succeed in the market and achieve their goals.