Determinants of the development of corporate social responsibility practices in Pacific Alliance banks

Purpose This paper aims to analyze the determinants for the development and disclosure of corporate social responsibility (CSR) actions in banking entities in the countries that comprise the Pacific Alliance during the period 2015–2019. Design/methodology/approach The content analysis technique is applied to collect CSR practices in the studied banks. Subsequently, a fixed effects panel data model is used. Findings The results show a disconnection between the CSR policies and practices developed by banks. Similarly, it is observed that the size, reputation, legitimacy of existence and the relationship with external and internal stakeholders are determining factors for entities to carry out CSR actions, while regulation was shown to have no effect on the development of CSR practices. Research limitations/implications Some of the limitations of this study are related to barriers in the access to information associated with the CSR practices of banking institutions. Originality/value This study includes factors that have not previously been analyzed together as determinants of CSR disclosure in developed and developing countries. The variables studied include the analysis of the legitimization of existence, the relationship with stakeholders, segmented between internal and external, regulation and reputation, together with other corporate governance variables and aspects specific to the organization and the country. In addition, this research was developed in less analyzed contexts such as Latin America.