suchas client retention, we inevitably needed to evaluate the banks’involvement in CSR activities. Therefore, we created the inde-pendent variable which is the CSR score. The score is the sumof 3 sub-scores; the first one is for the bank’s experience in CSRactivity, the second for the bank’s CSR policy, and the thirdfor the bank’s CSR measures. The sum of these sub-scores,forming the CSR score will be used later on for hypothesestesting