Summary:
We empirically explore the innovation and corporate sustainability link using a large sample of worldwide banks for the period 2003-2016. Our results suggest that service innovation performance enhances the banking industry’s corporate sustainability. In addition, we contribute by proposing a conceptual framework for understanding the link between innovation performance and corporate sustainability in the banking industry. The framework consists of three underlying dimensions-the antecedents of innovation performance, the specific innovation performance initiatives, and how these initiatives are converted into improved corporate sustainability. Our findings provide insights for academics and practitioners on the dynamics between service innovation performance and corporate sustainability in the banking sector. Further, due to the intermediation role of banks in the economy, their evolution towards sustainable banking constitutes a lever for sustainability across other industries and overall sustainable development.
Keywords: innovation; service industry; banks; corporate sustainability; sustainable innovation; sustainable development; stochastic frontiers; sustainable finance
JCR Impact Factor and WoS quartile: 2,576 - Q2 (2019); 3,300 - Q2 (2023)
DOI reference:
https://doi.org/10.3390/su11113210
Published on paper: June 2019.
Published on-line: June 2019.
Citation:
F.J. Forcadell, E. Aracil, F. Úbeda, The influence of innovation on corporate sustainability in the international banking industry. Sustainability. Vol. 11, nº. 11, pp. 3210-1 - 3210-15, June 2019. [Online: June 2019]
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