Factors effecting consumers’ purchasing decisions on CSR banking: A case of commercial bank in Thailand

Abstract

Corporate Social Responsibility (CSR) has become significantly important to corporations worldwide. In Thailand, awareness of social responsibility is increasing drastically. There are a number of research examined CSR effects in various sectors in Thailand, but no studies have been undertaken in the banking sector to date. This research aims to assess factors that affect consumers’purchasing decision on CSR banking by applying the “Theory of Planned Behavior”, a widely applied psychological theory which predicts a single human behavior. It consists of attitudes, subjective norms and perceived behavioral controls, and in this case, the Universal Selection Criteria has been applied. An additional factor, moral obligation has been included to increase the explanatory power of the model. The methodology applied to this research is a consumer survey. Four hundred and ten questionnaires were distributed to commercial banks users in Bangkok who had purchased bank products or services and/or had made transactions at the banks at the time when the questionnaires were distributed. Descriptive statistics and stepwise regression analysis were applied to the analysis. The results show that there are three significant factors affecting customers’ purchase intentions namely moralobligation, attitude, and subjective norms.