Financial openness and CSR: Banks in Greece, Italy, Portugal and Spain

Since the global financial crisis of 2008, the practices of the European banking sector have come under public scrutiny. Considered as a source of external shocks, the opening of European banking markets is particularly questioned. Following this trend, this article aims to provide an original study by examining the effect of banking sector openness on the CSR of banks. It focuses on the case of Southern European banks, which are the most vulnerable in the European system. The study highlights a significant effect of banking sector openness on banks' social performance. However, the financial performance of banks moderates this effect.