How sustainable banking fosters the SDG 10 in weak institutional environments
Entity
UAM. Departamento de Financiación e Investigación ComercialPublisher
ElsevierDate
2022-04-02Citation
10.1016/j.jbusres.2022.03.065
Journal of Business Research 146 (2022): 277-287
ISSN
0148-2963 (print)DOI
10.1016/j.jbusres.2022.03.065Funded by
This work was supported by the Spanish Ministry of Science, Innovation, and Universities [grant number: RTI2018-097447B-I00 and grant number: RTI2018-097,447-B-I00], and from the Professorship Excellence Program in accordance with the multi-year agreement signed by the Government of Madrid and the Autonoma University of Madrid (Line #3)Project
Gobierno de España. RTI2018-097447B-I00Editor's Version
https://doi.org/10.1016/j.jbusres.2022.03.065Subjects
Banks; ESG; Inequality; Institutions; Rule of law; Sustainable Development Goals; EconomíaRights
© 2022 The Authors
Esta obra está bajo una licencia de Creative Commons Reconocimiento-NoComercial-SinObraDerivada 4.0 Internacional.
Abstract
The role of the financial sector is central in reducing income inequality – the goal of SDG 10 – by facilitating economic opportunities. However, institutional weaknesses may also undermine this effect. We argue that sustainable banking generates bidirectional trust to overcome institutional weaknesses, particularly the weak rule of law. Empirical evidence from 46 countries aggregating data of 1060 banks over 2010–2017 shows that sustainable banking lessens income inequality in weak rule of law settings. The results are robust after including the effects of bank digitalisation. This study has important implications for sustainable banking expansion into weak institutional environments and demonstrates banks’ efforts in their commitment to reducing inequality
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Google Scholar:Úbeda Mellina, Fernando Andrés
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Forcadell, Francisco Javier
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Aracil, Elisa
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Méndez López, Álvaro José
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