2017 | 1(51) | 53-64
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The banking sector’s stable operation contributes to healthy economic development. Any waver of confidence in the sector may lead to serious economic problems, as seen during the 2008 crisis. The aims of this original retrospective and exploratory study are: (1) to describe the concepts of corporate social responsibility, a term familiar for companies and to interpret it the operating practice of commercial banks and (2) to describe a potential manner of CSR implementation in central banks’ task performance as well. The authors provide a survey of the relevant literature and study how the theory is supported by empirical evidence based on previous researches about commercial banks and the practice of central bank of the United States of America (FED) and the European Central Bank (ECB). Our survey indicates that CSR has clearly become part of the financial sector and it is an increasingly important topic in international banking. Furthermore, the stress laid on the banking sector’s corporate responsibility may be instrumental in restoring confidence in the sector and improving social welfare.
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  • National University of Public Service, Hungary
  • Széchenyi István University, Hungary
  • University of Miskolc, Hungary
  • University of Physical Education, Hungary
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