Title: CSR of foreign banks from Central and Eastern Europe: an international comparison

Authors: Mirela Panait; Marian Catalin Voica; Maria Palazzo; Alfonso Siano

Addresses: Faculty of Economic Sciences, Petroleum-Gas University of Ploiesti, Ploieşti, Romania ' Faculty of Economic Sciences, Petroleum-Gas University of Ploiesti, Ploieşti, Romania ' Department of Political and Communication Sciences, University of Salerno, Fisciano, Italy ' Department of Political and Communication Sciences, University of Salerno, Fisciano, Italy

Abstract: The paper analyses the chameleonic behaviour of banks with foreign capital in Central and Eastern Europe (CEE) after the fall of communism. Those banks decided to maximise profits, using abusive contractual clauses, while implementing corporate social responsibility (CSR). The research explores CSR reports and statistical data provided by different bodies - in nine countries - and correlates the results with country risk classification. The research highlights that asymmetry of information has caused a split between the declared responsible intentions of banks involved in the economic development of CEE and their unethical actions of selling misleading financial services to consumers with low level of financial education. The paper highlights that it is important for banks to understand that reducing the asymmetry of information with customers and applying a systematic and continuous approach to CSR can help financial organisations to attract important resources and to attain economic goals.

Keywords: foreign capitals; central and eastern Europe; corporate social responsibility; interest rate; chameleonic behaviour; agency theory.

DOI: 10.1504/EJIM.2026.151141

European Journal of International Management, 2026 Vol.28 No.2, pp.288 - 316

Received: 16 Sep 2020
Accepted: 15 Oct 2020
Published online: 15 Jan 2026 *

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