Application of hybrid multi-criteria decision-making method to the evaluation of corporate social responsibility: An example of the banking industry in China

Corporate social responsibility (CSR) is a popular research topic, but there have not been comprehensive discussions on CSR evaluation in the banking sector. The purpose of this study is to propose a two-stage analysis combining the modified Delphi method (MDM) and Analytic Network Process (ANP) in order to construct a model for evaluating banks’ CSR. First, we use MDM to select and determine the interdependence of the criteria and then employ ANP to obtain their weights and to rank the alternatives. The results show that 5 criteria and 18 sub-criteria need to be considered in CSR evaluation. The most important criterion and sub-criterion are bank governance and regulatory compliance, respectively. The evaluation model constructed herein can be taken as a decision-making guide for evaluating banking organizations’ CSR and to help promote CSR development in China’s financial industry.