Materiality matrix: a comparison between relevant indicators for banks and stakeholder

Purpose. This work analyzes the elements that Italian banks identify as strategical to increase their relational and reputational capital and to be in consonance with the stakeholders expectations. We aim to investigate the width and the depth of the phenomenon to detect the banks attention on critical topics for their stakeholders. Methodology. The present study examines a set of indicators defined starting from the materiality matrix published in the non-financial reports of banks. In particular, we used the reports published by 56 banks operating in Italy on their websites, which can be considered representative of the universe of entities that form that sector with regard to market shares held. Findings. The materiality matrix gives the possibility to enrich the reports aimed at communicating in an accurate way to the various super-systems, in addition to their perfomances, the propension in the creation of shared value over time, following a course that leads to the identification of relevant matters on which strategies and sustainability goals have to be founded. Practical implications. The materiality matrix does only not come with conceptual reflections: the possibility to create a multi-stakeholder context by which it is possible to involve in the decision-making process the main representative of relevant super-systems in order to identify virtuous paths that are useful for the co-creation of value and for the creation of a sustainable society becomes fundamental. Originality. The originality of the study is twofold: first, there are no similar studies regarding banking firms; second, the heterogeneity of indicators, identified as material for both banks and stakeholders, has been traced back to the relevant stages of Corporate Social Responsibility (Carroll, 1991).