TY - JOUR
T1 - Canadian banks’ responses to COVID-19
T2 - a strategic positioning analysis
AU - Talbot, David
AU - Ordonez-Ponce, Eduardo
N1 - Publisher Copyright:
© 2020 Athabasca University.
PY - 2022
Y1 - 2022
N2 - The Canadian banking system is among the best in the world. Amid the COVID-19 pandemic, the world is challenged and banks are expected to rescue society. Businesses are revising, repurposing, and reinventing their products and services to address people’s needs. In this context, this article seeks to understand how Canada’s banks are supporting their clients and communities, during the current health crisis. Content analysis was conducted to analyse Canada’s ten largest banks’ supporting actions towards the pandemic, leading to 125 documents and 19 different actions consulted. Based on the data, a combination of hierarchical clustering and multidimensional scaling was conducted. Following a CSR approach, three clusters of banks are identified: sweeping actions, cautious actions, and wait & see, highlighting that while most banks are doing little to help their stakeholders, three of them have a proactive and strong commitment to their clients and communities in these times of need.
AB - The Canadian banking system is among the best in the world. Amid the COVID-19 pandemic, the world is challenged and banks are expected to rescue society. Businesses are revising, repurposing, and reinventing their products and services to address people’s needs. In this context, this article seeks to understand how Canada’s banks are supporting their clients and communities, during the current health crisis. Content analysis was conducted to analyse Canada’s ten largest banks’ supporting actions towards the pandemic, leading to 125 documents and 19 different actions consulted. Based on the data, a combination of hierarchical clustering and multidimensional scaling was conducted. Following a CSR approach, three clusters of banks are identified: sweeping actions, cautious actions, and wait & see, highlighting that while most banks are doing little to help their stakeholders, three of them have a proactive and strong commitment to their clients and communities in these times of need.
KW - COVID-19
KW - CSR
KW - Canadian banks
KW - financial institutions
KW - strategy
UR - http://www.scopus.com/inward/record.url?scp=85086458502&partnerID=8YFLogxK
U2 - 10.1080/20430795.2020.1771982
DO - 10.1080/20430795.2020.1771982
M3 - Journal Article
AN - SCOPUS:85086458502
SN - 2043-0795
VL - 12
SP - 423
EP - 430
JO - Journal of Sustainable Finance and Investment
JF - Journal of Sustainable Finance and Investment
IS - 2
ER -