The Development Model of Corporate Image on Social Responsibility of the Specialized Financial Institutions (SFIs) under the Ministry of Finance

Abstract

This research aims to 1) study the level of social responsibility and image development of specialized financial institutions under the Ministry of Finance, modern organizational management, organizational management, communication, and shared value creation. 2) study the causal factors underlying the influence of modern organizational management. Organization management, communication, and creating shared value influence the development of the corporate social responsibility image of specialized financial institutions under the Ministry of Finance; and 3) propose a model for developing the social responsibility image of specialized financial institutions under the Ministry of Finance. This research is a combination research. The quantitative research consisted of interviews with employees and executives working in specialized financial institutions under the Ministry of Finance, with 380 samples. The size of the sample was determined using the 20-fold rule of random observation variables. The stratified sample group was used to collect data using a questionnaire. The data were analyzed by a structural equation model. for qualitative research Data was collected through in-depth interviews. It consists of 15 experts who specialize in building the corporate image with sustainability and social responsibility, have knowledge and experience of at least 5 years in both the government and private sectors, and analyze data with content analysis.

The results showed that 1) Image, social responsibility, corporate management, modern corporate management, communication, and shared value creation is all at a high level. 2) Modern organizational management had the highest total causal influence on the corporate social responsibility image, followed by shared value creation, communication, and organizational management, respectively; and 3) The form of image development is visualized, consisting of the most influential modern organizational management at the bottom, shared value creation and communication in the middle, and organizational management helping to promote it at the top level. In addition, the image of social responsibility must consist of the participation of stakeholders, the economy, society, and environment. The results of the research are beneficial to specialize financial institutions under the Ministry of Finance, which can use the research results as a guideline for formulating policies and strategies to effectively create an image of social responsibility.