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CSR in the Financial Industry: A Focus on Supply Chain and Management
Language: English This thesis is written in English
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Nicolò Degl'innocenti, Università degli Studi di Siena, 2014-15
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Purpose – The purpose of this Master thesis is to investigate whether Financial Companies’ Social Responsible Supply Chain activities are associated with their financial performance
Three approaches have been followed: Literature review on Corporate Social Responsibility (CSR), Firm Value and Supply Chain Management (SCM).
Development of an industry-focused survey with qualitative aims
Sample: 47 companies.
Development of a quantitative model to test our hypotheses
Sample: 156 companies.
A definition of Sustainable Supply Chain for the financial industry has been given, finding more appropriate the concept of Sustainable procurement given that for this particular industry the most common Supply Chain approach is the dyadic one. Lack of measurement tools, especially from the point of view of Corporate Financial Performance (CFP) related to CSR and sustainable procurement practices are commonly spread in the industry and can represent a barrier to the development of social responsible solutions among these firms.
The quantitative approach results in a positive relation between the four Financial Indicators (ROA/ROE/ROIC/TOBIN’S Q RATIO) and the Sustainable Supply Chain Management Score resulting from the ESG Score developed by Thomson Reuters.
Research limitations: While the study is the first to examine the relationship between ESG data related to Procurement in the Financial Industry and Firm Value with the ASSET4 Thomson-Reuter’s Database, the authors call for more research into this issue examining other possible databases and a deeper focus on the delayed effect.
Practical implications: Lack of measurement about sustainable practices outcomes may represents a barrier for the implementation of those practices, suggesting the need of a more focused development of proper metrics and evaluation tools, to help managers to improve more efficient and sustainable solutions regarding the supply chain and the procurement, even in sectors as the financial one where the procurement, at least at a first glance, can be seen as something marginal and without any direct impact on the firm’s performance.
Originality/value: This study is the first to study the impact on ESG Supply Chain Score on Firm Value related to this specific industry and using this database. It partially traces the approach of other papers not industry focused.
Keywords: Firm Value, CSR, ESG, Procurement, Financial Industry, Supply Chain.
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