The Influence of Innovation on Corporate Sustainability in the International Banking Industry
Abstract
:1. Introduction
2. Innovation Performance That Fosters Corporate Sustainability in the Banking Industry
2.1. The Instrumental Value of Innovation Performance and Corporate Sustainability
2.2. Antecedents of Innovation Performance in the Banking Industry
2.3. Innovation Performance Initiatives in the Banking Industry
2.4. The Influence of Innovation Performance on Corporate Sustainability in the Banking Industry
2.5. Operationalization of the Hypothesis
3. Methods
3.1. Sample and Variables
3.2. Model Specification
4. Results
5. Discussion and Conclusions
Author Contributions
Funding
Acknowledgments
Conflicts of Interest
Appendix A
Appendix B
Number of Banks | Observations | |
---|---|---|
Australia | 6 | 65 |
Austria | 2 | 14 |
Canada | 9 | 79 |
Denmark | 3 | 15 |
France | 4 | 26 |
Germany | 2 | 12 |
Greece | 4 | 17 |
Italy | 9 | 78 |
Norway | 1 | 12 |
Portugal | 2 | 23 |
Spain | 5 | 50 |
Switzerland | 6 | 45 |
United Kingdom | 6 | 71 |
United States of America | 109 | 431 |
Total | 168 | 938 |
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Variables | Obs. | Mean | S.D. | Median | Min. | Max. | Skewness | Kurtosis |
---|---|---|---|---|---|---|---|---|
CS | 938 | 55.683 | 21.851 | 54.356 | 54356 | 94.894 | 0.029 | 1.591 |
INN | 938 | 0.971 | 0.020 | 0.977 | 0.842 | 0.997 | −2.342 | 10.903 |
ROA | 938 | 0.007 | 0.007 | 0.008 | −0.058 | 0.045 | −2.118 | 16.005 |
TIER-1 | 938 | 0.116 | 0.035 | 0.113 | 0.051 | 0.379 | 2.228 | 14.070 |
Loans | 938 | 24.686 | 1.824 | 24.776 | 19.644 | 27.831 | −0.383 | 2.401 |
NPL | 938 | 0.046 | 0.113 | 0.016 | 0.000 | 1.047 | 6.175 | 46.010 |
Internet | 938 | 0.835 | 0.089 | 0.850 | 0.441 | 0.973 | −1.672 | 8.614 |
Mobile | 938 | 1.017 | 0.241 | 1.072 | 0.469 | 1.565 | −0.677 | 2.430 |
CSt−1 | INNt−1 | ROAt−1 | NPLt−1 | Tier1t−1 | Loanst−1 | GDPt | Growtht | Internett | Mobilet | |
---|---|---|---|---|---|---|---|---|---|---|
CSt−1 | 1.000 | |||||||||
INNt−1 | −0.040 | 1.000 | ||||||||
ROAt−1 | −0.170 | −0.013 | 1.000 | |||||||
NPLt−1 | 0.105 | 0.020 | −0.238 | 1.000 | ||||||
Tier1t−1 | −0.095 | 0.073 | 0.010 | 0.041 | 1.000 | |||||
Loanst−1 | 0.683 | −0.004 | −0.229 | 0.045 | −0.267 | 1.000 | ||||
GDPt | −0.343 | 0.030 | 0.212 | −0.266 | −0.057 | −0.267 | 1.000 | |||
Growtht | −0.031 | −0.100 | 0.392 | −0.216 | 0.028 | −0.100 | 0.119 | 1.000 | ||
Internett | −0.083 | 0.082 | 0.164 | −0.207 | −0.158 | 0.156 | 0.343 | 0.153 | 1.000 | |
Mobilet | −0.219 | 0.066 | 0.131 | −0.203 | −0.073 | 0.050 | 0.028 | 0.088 | 0.579 | 1.000 |
Variables | (1) GMM FOD One-Step | (2) GMM FOD Two-Step |
---|---|---|
0.677 **** | 0.684 **** | |
(0.060) | (0.059) | |
39.390 ** | 35.805 ** | |
(15.300) | (14.024) | |
−7.512 | 6.710 | |
(58.333) | (54.983) | |
−4.686 | −4.245 | |
(3.482) | (5.314) | |
0.598 | −14.886 | |
(21.993) | (25.119) | |
2.807 *** | 2.646 *** | |
(1.046) | (0.931) | |
6.782 * | 8.552 ** | |
(3.447) | (3.397) | |
−0.391 | −0.508 ** | |
(0.250) | (0.234) | |
Constant | −174.529 *** | −189.634 *** |
(53.869) | (57.051) | |
Number of instruments | 97 | 97 |
Included time dummies | Yes | Yes |
Included country dummies | Yes | Yes |
Arellano-Bond test for AR(1) | −5.710 **** | −4.910 **** |
Arellano-Bond test for AR(2) | 0.460 | 0.390 |
Hansen J test of overidentification | 53.290 | 53.290 |
Observations | 875 | 875 |
Number of banks | 168 | 168 |
GMM FOD Model | |
---|---|
Model 3: One step (collapse, instrumented) | 36.468 ** |
Model 4: Two step (collapse, instrumented) | 40.153 ** |
Model 5: One step (limited lags, collapse, no instrumented) | 38.054 ** |
Model 6: Two step (limited lags, collapse, no instrumented) | 23.584 |
Model 7: One-step (collapse, no instrumented) | 35.934 ** |
Model 8: Two-step (collapse, no instrumented) | 28.512 |
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Forcadell, F.J.; Aracil, E.; Úbeda, F. The Influence of Innovation on Corporate Sustainability in the International Banking Industry. Sustainability 2019, 11, 3210. https://doi.org/10.3390/su11113210
Forcadell FJ, Aracil E, Úbeda F. The Influence of Innovation on Corporate Sustainability in the International Banking Industry. Sustainability. 2019; 11(11):3210. https://doi.org/10.3390/su11113210
Chicago/Turabian StyleForcadell, Francisco Javier, Elisa Aracil, and Fernando Úbeda. 2019. "The Influence of Innovation on Corporate Sustainability in the International Banking Industry" Sustainability 11, no. 11: 3210. https://doi.org/10.3390/su11113210