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<p>The article examines the problem of increasing social responsibility of the financial sector on the example of systemically important banks that operate in the modern information and network economy under conditions of uncertainty. A comparative analysis of dimensions of social responsibility of banks in different countries of the world was carried out. Based on the obtained results, the importance of social responsibility of banking structures for a wide range of stakeholders and thus for stable and successful operation of banks in the economics of information and uncertainty was confirmed. The general purpose of the study is to develop, test and suggest a comprehensive methodology for monitoring and assessing the level of social responsibility of the financial sector on the example of Ukrainian banks in conditions of uncertainty and recognizing gaps between the actual level and the desired, maximally high state of social responsibility. In our research, we considered social responsibility as a key direction towards achieving and harmonizing the strategic goals of financial institutions. The article focuses on the development of practical measures to monitor public opinions and assess the level of social responsibility of financial institutions. The research offers the following directions: 1) A comparative analysis of data for systemically important banks in Ukraine and other world countries regarding social responsibility; 2) determination of factors that influence the activity of the banking sector; 3) determination of question-indicators applied to the level of social responsibility of banks; 4) analysis of public opinion on the level of social responsibility of banks; 5) analysis of gaps in assessments of the level of social responsibility on the example of systemically important banks of Ukraine. The study involved the methods of statistical research and expert evaluations that made it possible to suggest a methodology for determining the level of social responsibility of financial institutions on the example of systemically important banks. Higher expectations from social responsibility of banks on the part of society were also revealed. The suggested methodology involves analyzing gaps between assessments by stakeholders and the desired level of social responsibility of banks in evaluating the level of compliance with social responsibility. A comparison of the average score of the public assessment with the highest level of social responsibility of banks is visualized. The directions for improving the social responsibility policy are outlined on the example of systemically important banks in Ukraine on the basis of a comparative analysis and taking into account various experiences around the world.</p>
</abstract>

The article examines the problem of increasing social responsibility of the financial sector on the example of systemically important banks that operate in the modern information and network economy under conditions of uncertainty. A comparative analysis of dimensions of social responsibility of banks in different countries of the world was carried out. Based on the obtained results, the importance of social responsibility of banking structures for a wide range of stakeholders and thus for stable and successful operation of banks in the economics of information and uncertainty was confirmed. The general purpose of the study is to develop, test and suggest a comprehensive methodology for monitoring and assessing the level of social responsibility of the financial sector on the example of Ukrainian banks in conditions of uncertainty and recognizing gaps between the actual level and the desired, maximally high state of social responsibility. In our research, we considered social responsibility as a key direction towards achieving and harmonizing the strategic goals of financial institutions. The article focuses on the development of practical measures to monitor public opinions and assess the level of social responsibility of financial institutions. The research offers the following directions: 1) A comparative analysis of data for systemically important banks in Ukraine and other world countries regarding social responsibility; 2) determination of factors that influence the activity of the banking sector; 3) determination of question-indicators applied to the level of social responsibility of banks; 4) analysis of public opinion on the level of social responsibility of banks; 5) analysis of gaps in assessments of the level of social responsibility on the example of systemically important banks of Ukraine. The study involved the methods of statistical research and expert evaluations that made it possible to suggest a methodology for determining the level of social responsibility of financial institutions on the example of systemically important banks. Higher expectations from social responsibility of banks on the part of society were also revealed. The suggested methodology involves analyzing gaps between assessments by stakeholders and the desired level of social responsibility of banks in evaluating the level of compliance with social responsibility. A comparison of the average score of the public assessment with the highest level of social responsibility of banks is visualized. The directions for improving the social responsibility policy are outlined on the example of systemically important banks in Ukraine on the basis of a comparative analysis and taking into account various experiences around the world.

Social Responsibility of the Financial Sector in the Information and Network Economy: The Example of Systemically Important Banks in Ukraine and Comparison With Banks in Other Countries of the World

Department of Management and Administration

National Technical University «Kharkiv Polytechnic Institute»

Journal of Central Banking Theory and Practice

This work is licensed under the Creative Commons Attribution 4.0 International License.

The article examines the problem of increasing social responsibility of the financial sector on the example of systemically important banks that operate in the...

Social Responsibility of the Financial Sector in the Information and Network Economy: The Example of Systemically Important Banks in Ukraine and Comparison With Banks in Other Countries of the World

Published Online: Jun 07, 2024

Page range: 229 - 258

Received: Feb 27, 2023

Accepted: Jul 11, 2023

DOI: https://doi.org/10.2478/jcbtp-2024-0020

Keywords
social responsibility, financial sector, banks, information and network economy, changes, public opinion, stakeholders, gap analysis

© 2024 Oksana V. Portna et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Social Responsibility of the Financial Sector in the Information and Network Economy: The Example of Systemically Important Banks in Ukraine and Comparison With Banks in Other Countries of the World

Published Online: Jun 07, 2024

Page range: 229 - 258

Received: Feb 27, 2023

Accepted: Jul 11, 2023

DOI: https://doi.org/10.2478/jcbtp-2024-0020

Keywordssocial responsibility, financial sector, banks, information and network economy, changes, public opinion, stakeholders, gap analysis

© 2024 Oksana V. Portna et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Keywords
social responsibility, financial sector, banks, information and network economy, changes, public opinion, stakeholders, gap analysis