Investigating social banking in the world for small industries and providing a solution on how to generalize it in Ardabil

Subject Areas : Financial Economics

Naser Seifollahi ¹ , Vahideh EbrahimiKharajo ²

1 - Department of Business Management, Faculty of Social Sciences, Mohaghegh Ardabili University, Ardabil, Iran
2 - Department of Business Management, Faculty of Social Sciences, Mohaghegh Ardabili University, Ardabil, Iran.

Received: 2022-03-30 Accepted : 2022-06-04 Published : 2022-08-23

Keywords: financing, G2, Social Responsibility, M1, L5, Keywords: Social Banking, Small Industries JEL: E5,

Abstract :

AbstractIn the banking industry, a diverse range of activities has been introduced under the heading of social banking measures; Social banks try to invest in activities that improve the conditions of society as a whole. Stable investments and lending methods; These are some of the things that these banks use to increase the quality of social life and play an important role in financing small industries. Although banks have been involved in this in recent years; But social banking is a new approach to the growth of small industries. Therefore, the present study seeks to investigate social banking in the world for small industries and provide a solution on how to generalize it in Ardabil province. In terms of orientation, this study is in the category of applied research and in terms of nature, it is in the category of exploratory research. It is also considered qualitative in terms of data certainty. The sampling method is a judgmental and purposeful method. The statistical population of the present study is all experts and experts in the field of banking, in which 20 interviews were conducted and analyzed. The results were analyzed using MAXQDA software. Data analysis was performed by analyzing the theme and after analyzing the interviews and open and centralized coding of the interview text, four dimensions of social banking were identified, which are (financing, environment, customers and society). Finally, by reviewing the research literature and presenting successful social banking solutions in the world; Solutions appropriate to the business environment of Ardabil province for small industries located in the towns and industrial areas of the province were given and suggestions in this regard were provided to banks to finance these industries.

References:

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Zhixia, C., Hossen, M. M., Muzafary, S. S., & Begum, M. (2018). Green banking for environmental sustainability-present status and future agenda: Experience from Bangladesh. Asian Economic and Financial Review, 8(5), 571-585.‏

 

 

Adekambi S., Ingenbleek P. and van Trijp H. (2015). Integrating producers at the base of the pyramid with global markets: A market learning approach. J. Int. Market., 23 (4), 63-44.
Accenture. (2011). Smart mobile cities: opportunities for mobile operators to deliver intelligent
cities. Accenture.
Azizi, S. (2016). Conceptual Mapping of Retail Banking: A Correspondence Analysis Approach. Modern Research in Decision Making, 1(3), 65-84.‏
Balling, M., Bernet, B., & Gnan, E. (2009). Financing SMEs in Europe, SUERF–The European Money and Finance Forum Vienna. Retrieved February, 18, 2014.‏
Benedikter, R. (2011). Social banking and social finance. In Social banking and social finance (pp. 1-128). Springer, New York, NY.‏
Becchetti, L., Ciciretti, R., Dalo, A., & Herzel, S. (2015). Socially responsible and conventional investment funds: performance comparison and the global financial crisis. Applied Economics, 47(25), 2541-2562.‏
Biancone, P., Secinaro, S. F., Mohamed Radwan Ahmed Salem, M., & Presti, P. (2018). The ethical tourism: the halal tourism.‏
Burgess, R., & Pande, R. (2005). Do rural banks matter? Evidence from the Indian social banking experiment. American Economic Review, 95(3), 780-795.‏‏
Chin, O., & Nor, M. M. (2016). Does the micro financing term dictate the performance of micro enterprises?. Procedia Economics and Finance, 35, 281-286.‏
Cognizant, (2014). How banks can use social media analytics to drive business advantage. Cognizant Technology Solutions. (Available online at: http://www.cognizant.com/ InsightsWhitepapers/How-Banks-Can-Use-Social-Media-Analytics-To-Drive- Business-Advantage.pdf).
Dagbelou, V. K., Adekambi, S. A., & Yabi, J. A. (2021). Growth of small and medium-sized agricultural enterprises and export market integration by smallholder farmers. Agro-Science, 20(3), 1-8.
Deloitte, (2014). Who Says Banks Can't Be Social? Become a Social Bank, Inside and Out. Fagerberg, J., godinho, M., 2004. innovation and Catching-up, The Oxford Handbook of Innovation (chap 19).
De Clerk, F. (2009). Ethical Banking. In Ethical Prospects: Economy, Society and Environment, edited by L. Zsolnai, Z. Boda & L. Fekete. Budapest: Springer.
Essounga Njan, Y., & Morgan, M. D. (2020). Micro-financing in the era of good governance: economic benefits. An empirical study. Transnational Corporations Review, 12(4), 329-348.‏
Fallah, M. R., Jamipour, M., & Taheri, G. (2018). Designing a Framework to Implement Social Commerce from the Perspective of Organizational Change Capacity. Journal of Business Management, 9(4), 855-876.‏
Grove, A., & Berg, G. A. (Eds.). (2014). Social business: theory, practice, and critical perspectives. Springer Science & Business Media.
Hashemi, S. M. (1997). Building up Capacity for Banking with the Poor-Grameen Bank in Bangladesh. Micro-finance for the Poor, 109-128.‏‏
Hamidi, M. L., & Worthington, A. C. (2018). Islamic social banking: The way forward perbankan sosial Islam: Langkah kehadapan. J. Ekon. Malays, 52, 195-207.‏
Hazarika, D., & Nag, S. (2014). How banks can use social media analytics to drive business advantage. publisher Cognizant, available at: https://www. cognizant. com/InsightsWhitepapers/How-Banks-Can-Use-Social-Media-Analytics-To-Drive-Business-Advantage. pdf (20 May 2017).
Karjalainen, K., & Kemppainen, K. (2008). The involvement of small-and medium-sized enterprises in public procurement: Impact of resource perceptions, electronic systems and enterprise size. Journal of Purchasing and Supply Management, 14(4), 230-240.‏‏
Kim, W. G., Lim, H., & Brymer, R. A. (2015). The effectiveness of managing social media on hotel performance. International Journal of Hospitality Management, 44, 165-171.‏
Köhler, M. (2015). Which banks are more risky? The impact of business models on bank stability. Journal of Financial Stability, 16, 195-212.
Krause, K., & Battenfeld, D. (2019). Coming out of the niche? Social banking in Germany: An empirical analysis of consumer characteristics and market size. Journal of business ethics, 155(3), 889-911.‏
Krishnan, T. R., Liew, S. A., & Koon, V. Y. (2017). The effect of human resource management (HRM) practices in service-oriented organizational citizenship behaviour (OCB): Case of telecommunications and internet service providers in Malaysia. Asian Social Science, 13(1), 67-81.‏
Mayo, E. (2001). Social banking made sense. In Social banking seminar (pp. 13-20). London: The Smith Institute.‏
Mohd Nor, S., Abdul Rahim, R., & Che Senik, Z. (2016). The potentials of internalising social banking among the Malaysian Islamic banks. Environment, Development and Sustainability, 18(2), 347-372.‏
Nabi, M. G., Islam, M. A., Bakar, R., & Nabi, R. (2017). Islamic microfinance as a tool of financial inclusion in Bangladesh. Journal of Islamic Economics, Banking and Finance, 113(6218), 1-28.
Nițescu, D. C. (2015). Banking Business and Social Media-A Strategic Partnership. Theoretical & Applied Economics, 22(4).‏
Payandeh, R., Shahbazi, M., Manteghi, M., & Karimi, T. (2021). Bank-fintech collaboration: A systematic literature review. Management Research in Iran, 23(4), 130-172.
Park, C. W., & Pincus, M. (2001). Internal versus external equity funding sources and earnings response coefficients. Review of Quantitative Finance and Accounting, 16(1), 33-52.‏
Rezaei, D., Aghdasi, M., & Saeedi, F. (2021). Identification of Social Banking Approaches and Analysis of Their Effects on the Bank's. Management Research in Iran, 25(1), 26-49.‏
Relaño, F. (2011). Maximizing social return in the banking sector. Corporate Governance: The international journal of business in society.
Risalvato, G. C. Venezia, and F. Maggio, (2019). Social responsible investments and performance. International journal of financial research.
Sairally, S. (2007). Community development financial institutions: Lessons in social banking for the Islamic financial industry. Kyoto Bulletin of Islamic Area Studies, 1(2), 19-37.‏
Schueffel, P. (2016). Taming the beast: A scientific definition of fintech. Journal of Innovation Management, 4(4), 32-54.‏ 
Suvarna, V. K., & Banerjee, B. (2014). Social banking: leveraging social media to enhance customer engagement. Capgemini White Paper.‏
Strauss, A., & Corbin, J. (1998). Basics of qualitative research techniques.‏
Tambunan, T. T. H. (2011). Development of small and medium enterprises in a developing country: The Indonesian case. Journal of Enterprising Communities: People and Places in the Global Economy.‏
Tilakarantna, S. (1993). Social banking to meet needs of the poor. University of Sri Jayawardenapura.‏
Weber, O. & Duan, Y. (2012). Social finance and banking. In Socially Responsible Finance and Investing: Financial Institutions, Corporations, Investors, and Activists, edited by H.K. Baker & J.R. Nofsinger. United States of America: John Wiley & Sons, Inc.
Weber, O., & Remer, S. (2011). Social banks and the future of sustainable finance. Routledge.
Yunus, M., & Moingeon, B. Lehmann the Grammen Experience er, K.(2010). Creating a World without Poverty: social business and th. New York, NY: PublicAffairs. on, B., & Lehmann-Ortega, L.(2010). Building social business models: l en Experience. Long Range Planning, 43, 308-325.‏
Yip, A. W., & Bocken, N. M. (2018). Sustainable business model archetypes for the banking industry. Journal of cleaner production, 174, 150-169.‏
Zhixia, C., Hossen, M. M., Muzafary, S. S., & Begum, M. (2018). Green banking for environmental sustainability-present status and future agenda: Experience from Bangladesh. Asian Economic and Financial Review, 8(5), 571-585.‏