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Sustainability 2018, 10(9), 3271; https://doi.org/10.3390/su10093271

The Social Efficiency for Sustainability: European Cooperative Banking Analysis

1
Faculty of Economics and Business (Sarriko), ECRI, University of the Basque Country, UPV/EHU, 48015 Bilbao, Spain
2
Department of Accountancy, Finance and Economics, University of Huddersfield, Huddersfield HD1 3DH, UK
3
Faculty of Economics and Business Administration, Economics Department, University of Deusto, 48014 Bilbo, Spain
4
Management and the Governance of Financial Cooperatives (MGCF), Université Paris 1 Pantheon Sorbonne, 75013 Paris, France
*
Author to whom correspondence should be addressed.
Received: 31 July 2018 / Revised: 5 September 2018 / Accepted: 8 September 2018 / Published: 13 September 2018
(This article belongs to the Special Issue Risk Measures with Applications in Finance and Economics)
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Abstract

This paper seeks to establish the relationship between economic efficiency and social efficiency to analyze the sustainability of banking in Europe. The type-effect has been analyzed, as stakeholder value banks—cooperatives and saving banks—should not be less socially and economically efficient than commercial banks. This European analysis was made using the Bankscope database, as it provides a unique insight into the stakeholder view that clarifies, by an analysis of two-stage boundaries, that there is no single model of social and economic efficiency according to the type of financial entity in Europe. These findings contribute to the social cost paradox and shared value perspective, and more broadly to stakeholder theory. It is established that a tradeoff between economic and social efficiency is not needed. There are different behaviors in different European countries. Moreover, our results could lead to the development of social indicators of the sustainability aspects of organizations without resorting to traditional accounting. View Full-Text
Keywords: stakeholder theory; sustainability; risk; social efficiency; banking; cooperative banks; Data Envelopment Analysis (DEA) stakeholder theory; sustainability; risk; social efficiency; banking; cooperative banks; Data Envelopment Analysis (DEA)
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San-Jose, L.; Retolaza, J.L.; Lamarque, E. The Social Efficiency for Sustainability: European Cooperative Banking Analysis. Sustainability 2018, 10, 3271.

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