Corporate Social Responsibility, Co-Creation, Trust, and Reputation Effecting on Customer Loyalty in Thai Retail Banking

Abstract

This study examines the influence of corporate social responsibility (CSR) on customer loyalty in the Thai retail banking sector, with co-creation, trust, and reputation as mediating variables. Drawing on stakeholder theory and resource-based view theory, we develop a conceptual model to test these relationships. Data was collected from 400 bank customers in Bangkok using a structured questionnaire. Partial least squares structural equation modeling (PLS-SEM) was used to test the hypotheses. Results indicate that CSR has strong direct effects on co-creation (β = .660, p < .001), trust (β = .754, p < .001), and reputation (β = .443, p < .001). CSR also shows stronger indirect effects on loyalty via trust and reputation (β = .140, p < .001) compared to co-creation (β = .055, p < .001). The findings suggest that CSR can build trust and enhance reputation to foster customer loyalty, while CSR-related co-creation activities have a weaker indirect effect on loyalty in Thai banking. This study contributes to understanding how CSR initiatives can drive customer loyalty in the banking sector of an emerging economy, offering important implications for theory and practice in the fields of marketing and corporate social responsibility.