Antecedents and Consequences of Perceived Corporate Social Responsibility on Financial Holding Companies - Finance Students’ Perceptions

Abstract

Consumers consider various factors when purchasing because of consumer awareness. Increasingly, consumer behaviors are influenced by corporate social responsibility (CSR) activities. This study comprehensively investigates the relationships of antecedents and consequences of CSR from consumer perceptions. CSR ethics statements and financial performance are the antecedents in this study. The effects of the relationships among consumers’ perception of CSR and consumer satisfaction, perceived corporate reputation, perceived risk, as well as consumer loyalty are the consequences. The findings suggest that perceived CSR was affected by perceived quality of ethics; therefore, corporations should emphasize an internal ethics statement and establish their CSR image to increase consumer satisfaction, enhance the corporate reputation, reduce perceived risk, and form a positive link between corporations and consumers. In addition, the findings reveal that significant relationships were observed among consumer satisfaction, corporate reputation, and perceived risk, which affect consumer loyalty.