RESEARCH ARTICLE
Nonlinear and Threshold Effects of CSR Expenditure on Bank Liquidity Creation: The Moderating Role of Bank Culture
Do Khanh Hien,
Nguyen Thi Hoa Hong,
Hoang Gia Huy,
Tang Pham Hoai Phuong,
Hoang Thi To Anh,
Nguyen Le Hien Thu,
Nguyen Thu Thuy,
Do Khanh Hien
Securities Investment Department, Faculty of Banking and Finance, Foreign Trade University, Ha Noi, Vietnam
Search for more papers by this authorCorresponding Author
Nguyen Thi Hoa Hong
Financial Management—Statistics Analysis Department, Faculty of Business Administration, Foreign Trade University, Ha Noi, Vietnam
Correspondence:
Nguyen Thi Hoa Hong ([email protected])
Search for more papers by this authorHoang Gia Huy
Faculty of Banking and Finance, Foreign Trade University, Ha Noi, Vietnam
Search for more papers by this authorTang Pham Hoai Phuong
Faculty of Banking and Finance, Foreign Trade University, Ha Noi, Vietnam
Search for more papers by this authorHoang Thi To Anh
Faculty of Banking and Finance, Foreign Trade University, Ha Noi, Vietnam
Search for more papers by this authorNguyen Le Hien Thu
Faculty of Banking and Finance, Foreign Trade University, Ha Noi, Vietnam
Search for more papers by this authorNguyen Thu Thuy
Faculty of Banking and Finance, Foreign Trade University, Ha Noi, Vietnam
Search for more papers by this authorDo Khanh Hien,
Nguyen Thi Hoa Hong,
Hoang Gia Huy,
Tang Pham Hoai Phuong,
Hoang Thi To Anh,
Nguyen Le Hien Thu,
Nguyen Thu Thuy,
Do Khanh Hien
Securities Investment Department, Faculty of Banking and Finance, Foreign Trade University, Ha Noi, Vietnam
Search for more papers by this authorCorresponding Author
Nguyen Thi Hoa Hong
Financial Management—Statistics Analysis Department, Faculty of Business Administration, Foreign Trade University, Ha Noi, Vietnam
Correspondence:
Nguyen Thi Hoa Hong ([email protected])
Search for more papers by this authorHoang Gia Huy
Faculty of Banking and Finance, Foreign Trade University, Ha Noi, Vietnam
Search for more papers by this authorTang Pham Hoai Phuong
Faculty of Banking and Finance, Foreign Trade University, Ha Noi, Vietnam
Search for more papers by this authorHoang Thi To Anh
Faculty of Banking and Finance, Foreign Trade University, Ha Noi, Vietnam
Search for more papers by this authorNguyen Le Hien Thu
Faculty of Banking and Finance, Foreign Trade University, Ha Noi, Vietnam
Search for more papers by this authorNguyen Thu Thuy
Faculty of Banking and Finance, Foreign Trade University, Ha Noi, Vietnam
Search for more papers by this authorFirst published: 28 June 2025
Funding: The authors received no specific funding for this work.
ABSTRACT
This study investigates the nonlinear and threshold effects of Corporate Social Responsibility expenditure (CSRE) on bank liquidity creation, incorporating the moderating role of bank culture. Using panel data from 29 Vietnamese banks from 2010 to 2023, we employ a dynamic Generalized Method of Moments model, dynamic panel threshold regression and panel vector autoregression model to uncover the relationship between variables. The findings reveal an inverted U-shaped relationship, where CSR investments positively influence liquidity creation up to a threshold, beyond which excessive investment reduces its benefits. Besides, control and create bank culture weaken this nexus. These findings offer significant implications for bank managers and policymakers by highlighting the importance of banks determining appropriate CSRE thresholds for optimal liquidity creation benefits, avoiding overinvestment and fostering suitable bank cultures to moderate CSRE—liquidity creation association.
Conflicts of Interest
The authors declare no conflicts of interest.
Open Research
Data Availability Statement
The data that support the findings of this study are available on request from the corresponding author. The data are not publicly available due to privacy or ethical restrictions.
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