Value allocation to stakeholder employees and its effect on the competitiveness of the banking sector

Isac de Freitas Brandão, Andressa Silva Miranda Diógenes, Mônica Cavalcanti Sá de Abreu


Purpose – This paper investigates the relationship between corporate

social responsibility practices geared towards stakeholder employees

and the competitiveness and productivity of Brazilian banks.


Design/methodology/approach – We carried out two association

statistical analyses between the proxies of competitiveness and the

variables that indicated of internal social responsibility: the Jonckheere-

Terpstra test and regression analysis with Feasible Generalized Least

Squares (FGLS) modeling. The sample is made up of 21 banks listed

in BM&FBovespa over the 2010-2014 period.


Findings – The survey shows that corporate social responsibility

practices geared towards employees impact the financial performance

of banks. Employees’ salaries positively affected financial performance,

and the latter was negatively affected by the rate of outsourcing, both

explained by greater employee productivity. Employee turnover and

female participation in management and governance bodies are directly

related to competitiveness indicators, in a negative and positive way,

respectively, with no regard to employee productivity.

Originality/value – Banks that offer better CSR practices to their

employees present greater financial gains and increased employee

productivity. There are specific items that have the potential to lead

to a competitive status, adding value to businesses and employees.

This research argues that managers should identify the CSR practices

that add value to their companies and the benefits derived from value

allocation to employees.


Corporate social responsibility. Stakeholders. Competitiveness. Banks. Value allocation.


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