Abstract

CSR has gained much predominance in the previous decade in the various sectors of Pakistan. A quantitative research technique was used incorporating survey methodology for understanding the impact of transformational leadership in the promotion of  CSR practices in the banking sector of Pakistan. The primary objective of the study is to investigate the impact of transformational leadership on CSR practices while observing the mediating role of organizational learning. Moreover, green innovation is observed as a moderator between transformational leadership and organizational learning. Employees working in the CSR department of different banks in Pakistan were approached and 203 responses were collected. It shows significant results. This research helps in developing our comprehension regarding the banking sector of Pakistan and how well they inculcate CSR practices through transformational leadership. These insights offer practical implications for the enhancement of CSR-integrated strategies and the adoption of sustainable organizational practices.

Key Words

Corporate Social Responsibility, Transformational Leadership, Organizational Learning, Green Innovation 

Introduction

Leadership plays a pivotal role for any organization while Transformational Leadership (TL) has gained significant attention in recent years as this leadership style positively influences organizational learning. TL is a modern approach that helps lead people to bring change within an organization (Lasrado and Kassem, 2021). It creates positive attitudes in followers and works for mutual interest. Further, transformational leadership is considered a better style of leadership for dealing with transitions and is often used as a tool for bringing innovation within an organizational culture (Odeh et al., 2023). Transformational leadership significantly involves inculcating innovative behavior in employees (Bass & Avolio, 1990).

Transformational leaders foster a culture of intellectual stimulation, motivating staff members to enjoy their work and approach current issues from fresh perspectives (Savovic, 2017). Businesses nowadays prove to be more centric towards their environmental standing as well as economic and social standing. Transformational leaders exhibit the quality of stimulating innovation within the organization as innovation is led by the significant role of the leader (Tushman & Nadler, 1986). A transformational leader creates an atmosphere that enhances the abilities and talents to excel in the organization (Van de Ven, 1986), also leading the organization to be socially responsible.

Corporate Social Responsibility (CSR) is considered to be an important factor now as pollution and environmental degradation are a matter of concern for governments and policymakers globally (Ma et al., 2020). Governments are regulating firms to adopt a more sustainable and environment-friendly approach (Yu et al., 2016) which leads to scholarly debate focusing on green innovation (Singh, Del Giudice, Chierici, & Graziano, 2020). Moreover, the importance of CSR has increased for the new business model integration and scholars have paid attention to an important phenomenon of CSR (Xu et al., 2018).

The initiative of CSR has been a primary subject matter throughout the previous decennium. The pioneering published book in 1953 on CSR was titled "Social Responsibility of the Businessman" (Zou et al, 2021). Since then, many authors have been shedding light on the concept of CSR and its importance. CSR was defined by the WBC (World Business Council) as the type of entrepreneurial commitment that is appropriate to influence economic development and improve the overall work-life balance of the workers (Zou et al, 2021). Thus, CSR is considered a phenomenon of mutual interest for the organization itself, the employees working in it, and their families as well as focusing on society. In the current challenging times, an unprecedented effort by the organization is required to implement CSR for the betterment of processes of the organization, people of the society, and the planet. 

The concept of CSR has been defined by Carroll (1991) on a broader basis as a phenomenon that consists of “economic, legal, ethical, and philanthropic expectations perceived by the society of an organization at a certain point in time”. In the recent past, global CSR has been considered an important business practice (Xiang et al., 2020). Considering, the wider scope of the definition organizations working in Pakistan practicing CSR focus on all boundaries. Farooq et al. (2013) recommend that the organizations that commence the practice of CSR give an impression to their stakeholders that they are careful about the environment, society, and their employees. Nowadays, researchers focus on CSR more as the customer demand for environmentally friendly goods and services. The term eco-entrepreneur refers to the protection and prevention of environment-related issues in the majority of organizations and to the initiation of eco-friendly processes and goods in the market (Melay & Kraus, 2012). To be successful, firms need to act in accordance with the public expectations. Organizations have limited longevity if they are inwardly focused, whereas consumer-centric organizations tend to become more successful in the current market scenario.

Organizations have become more holistic and responsive when they communicate their concern about the environment (Wolff et al., 2018). Organizations are taking natural environment preservation on a serious note for the sake of satisfying the demand of stakeholders (Tang & Tang, 2017) and to gain a competitive edge (Yadav et al., 2016). Consequently, it is an alarming situation that for the sake of the benefit of workers, organizations have to set up more innovative business strategies by using CSR principles and also implement green business strategies for making a green supply and demand chain (Suganthi, 2019). Organizations are more worried about the environment nowadays as compared to they were previously (Dumont et al., 2016). Industrial practitioners and scholars have become more vigilant regarding green issues in the past few decades (Melay et al., 2017, Vallaster et al., 2018). Competition exists among organizations for their survival in the marketplace. Various Strategies are adopted and proposed to achieve a place ahead of the competitors (Papadas et al., 2018). Strategies such as zero-sum competition, balanced scorecard, and Strategic Options Development Analysis (SODA) are adopted to overcome the challenges that competition poses (Institute for Manufacturing, 2016). Furthermore, organizations adopt green practices as well for their long-term sustainability (Teixeira and Junior, 2019). CSR is yet another factor that contributes to the sustainability of an organization positively (Kolk, 2015).

Reliance on the banking sector for the sake of economic growth is observed in Pakistan. It is considered to be the world’s fastest-growing sector (Ardito and Dangelico, 2018). While each organization adapts to CSR differently, the goal of the banking sector is to improve its reputation amongst new customers and attract potential investors; CSR also helps banks improve their risk management and gain employee liability (Fukukawa et al., 2007). Banks have smartly incorporated CSR and rigorously worked towards social and environmental gains by initiating projects that support culture, health, and education and not just solely concentrating on profit maximization (Parker, 2005). Moreover, banks have now indulged in trading ethically, offering employee protection, and social reporting, and also advocating for the human rights of all communities to align and fulfill their Corporate Social Responsibility (Newell & Frynas, 2007).

Szegedi et al. (2020) monitored and evaluated CSR disclosure by various banks in Pakistan over a decade-long period ranging from 2008-2018 and concluded that there was a 14.58% increase in CSR disclosure by banks during this time frame as the values rose from 56.48% to 71.06%. Although the CSR disclosure by banks in Pakistan is moderate there is still room for improvement in the way these banks adapt to CSR and implement it in their daily operations. These results are also indicative that banks' disclosure of CSR in reporting also benefits them by improving the banks' accounting-based economic conduct. However, these results do not reflect the market-based financial performance of these financial institutions. The study highlights that many commercial banks fail to report and act in a socially responsible way and to correct this there should be more stringent laws laid by the Government of Pakistan to rectify these occurrences. 

Many banks across the globe have made a lasting mark on the community they operate in. This is not limited to developed nations only but many banks in Pakistan have highlighted CSR in their annual reports over the past few years. Soneri Bank, Pakistan in their annual report of 2019 outlined numerous initiatives that the bank undertook to be socially and environmentally responsible. One such effort was to run a digital campaign for the Indus Hospital and the Sindh Institute of Urology & Transplantation that aided improvement in the health sector. Furthermore, the bank worked towards women's empowerment and helped in promoting arts and sports through various fundraising events (2019 CSR initiatives - Soneri Bank Limited, 2021). Meezan Bank holds a reputation as an Islamic Bank and therefore has worked towards adopting CSR according to Islamic Legislation. It offers the “Akhuwat Program” benefiting the community by offering interest-free microfinance loans. The banks complying with the Shariah law run charity drives that benefit the community and help the world eradicate poverty (Corporate Social Responsibility | CSR | Meezan Bank, 2021).

Similarly, Faysal Bank works with “Marie Adelaide Leprosy Centre for Tuberculosis Control” a program that helps the community in Baltistan, Pakistan. The bank also arranges vast blood-collecting drives and encourages its employees to take part in this social cause (Faysal Corporate Social Responsibility - Faysal Bank, 2021). As the largest commercial bank in Pakistan, the National Bank of Pakistan (NBP) also actively engages and implements CSR in its operations. The bank lends financial and equipment support to various state-owned hospitals whilst also arranging free eye and blood checkup camps. NBP has also extended support to the education sector and contributes to scholarship programs offered to students coming from the low socio-economic strata of society (NBP-CSR, 2021). 

While adapting CSR as policy does benefit the banks and the society too, it is challenging in its own way. According to Smith (2003), it is not incorporating CSR that is difficult but the main focus lies on how to implement it. Friedman (1970) proclaimed that there is a conflict of interest when implementing CSR between the managers and the shareholders. The demand for CSR in the banking sector has gained immense focus over the past few years (Godfrey, 2005); customers put their trust in banks and in return demand that the bank operates responsibly in a way that would benefit the social and local communities (Yamak & Süer, 2005).

In a 2008 survey conducted in Australia by Rugimbana et al. (2008), it was found that half of all customers of a bank are purely interested in the welfare their bank does in terms of social and environmental good. The research work of Simpson and Kohers (2002) concentrated their efforts on assessing the Rate of Assessment (ROA) of banks and found out that the banks that were working responsibly towards social causes had a greater ROA as compared to those banks that did not incorporate CSR in the operations.

Understanding and implementing CSR in financial operations face many internal and external constraints (Sayed et al., 2017). According to customers, banks that fail to indulge in CSR often lack commitment in terms of religious and ethical values, prioritize profit-making over social welfare, shareholder conflict, and at times have inadequate knowledge of CSR. These challenges hold back banks from initiating CSR programs. Customers who view banks as charitable institutions, as they are credited by the community, perceive it to be a lack on the bank's part (Yusof, 2016). Another barrier faced by banks is the workforce itself; isolating the workforce and management not interacting on pressing issues is a common practice in banks(Blahová & Knápková, 2011). Wafula (2012) found out that in most developing countries it is the government and its inability to provide proper infrastructure that inhibits the bank’s CSR efforts as it then has to rely major on the donors which is never guaranteed. Further research indicates that the lack of proper governing bodies that work on environmental concerns is non-existent therefore the banks cannot do much as a single entity (Denis, 2010). 

Pakistan is emerging as a rising economy in the South Asia region and currently, it positions at number five in ranking for its population growth (World Bank). Prospective studies anticipate that Pakistan is one of the eleven countries in the region that shall witness an economic boom in the 21st century (Sachs, 2007). While Pakistan has potential for growth numerous factors pull it down; including child labor, human rights violations, lack of proper sanitation, pollution, illiteracy rate, and many more (Arshad et al., 2015). To overcome this huge gap, it is pivotal for the economy that financial institutions work towards CSR as a unanimous goal that would bring betterment not just for the bank itself but the nation as a whole (Jariko et al., 2016). While the world is working towards implementing CSR in their firms, it was not until 2008 that Pakistan started following the lead. The Security and Exchange Commission of Pakistan (SECP) passed the Companies General Order in 2009 that highlights the course and declaration of CSR; whilst this is pertinent for companies to follow its disclosure is not facile (Khan et al., 2018).




Research Questions

1. How does Transformational Leadership impact CSR in the banking sector of Pakistan?

2. Does Organizational Learning mediate the relationship between Transformational Leadership and CSR?

3. Does Green Innovation moderate the relationship between Transformational Leadership and Organizational Learning?




Theory and Hypotheses

Over the past decades, many theorists and researchers have used various theories to explain the role of bank management in implementing CSR programs. One such theory proposed is the legitimacy theory, which emphasizes that the banks' operations should be in line with social values (Omboi, 2011). As banks are financial institutions that the general public has placed so much trust in, their repute is largely dependent on how the banks uphold the societal values they operate in and what efforts it is making to help the community back. Others have shed light on the stakeholder theory which sees the organization as part of the social community it is operating in (Amadi & Zhao, 2020). 




Transformational Leadership and CSR

It is noteworthy that transformational leadership positively influences CSR practices. It encourages workers to strive for greater objectives since it is linked to benevolence, moral principles, and intrinsic drive. By acknowledging the demands of both major and minor stakeholders, transformational leaders promote organizational learning and improve CSR practices. They provide an atmosphere of ethics that is consistent with updated norms, values, and visions. Through CSR initiatives, businesses strengthen their social efforts without weakening them, benefiting their core stakeholders more (Alshihabat and Atan, 2020). In recent years, CSR practices have gained attention in developing countries producing positive results in terms of employees producing favourable results. 

Corporate Social Responsibility (CSR) practices are positively impacted by transformational leadership as it develops an atmosphere of social responsibility. Transformational leaders encourage motivating and inspirational behaviors in employees by participating in CSR activities. It promotes dedication and unity leading to a more responsible society that follows sustainable practices in organizations. Many studies support the positive association between CSR practices and transformational leadership (De Oliveira & Lacerda, 2010; Verissimo & Lacerda, 2012; Hauserman & Stick, 2013).

H1: Transformational leadership has a positive impact on CSR practices.




Transformational Leadership and Organizational Learning

Numerous studies support the strong positive influence of transformational leadership on learning in the organization. According to leaders who display transformational leadership behaviors inspire their subordinates to embrace innovation, encourage knowledge sharing, and promote a learning culture within the organization. Leaders who are proponents of transformative leadership are preachers of developing innovative skills, cognitive activities, and academic environments within the organizations. For example, in a study, it was discovered that such leaders stimulated intellect, and innovation, and promoted continuous learning. Furthermore, Leadership, defined by followership and organizational ideals, is critical for organizational success (Bass & Riggio, 2006). Effective leadership and collaborative management have a good influence on organizational learning (Hsiao & Chang, 2011). Transformational leaders employ remarkable influence to change the attitudes and beliefs of organizational members while prioritizing the organization's best interests. Idealized influence, motivation, learning, and individualized concern all contribute to this impact (Steinmann, Klug, & Maier, 2018). Transformational leaders link followers' self-concepts to the organization's mission, directing objectives toward self-actualization and the larger goals. They establish settings that encourage and maintain success, recognizing the value of group learning. This administration approach emphasizes experimentation, communication, and conversation while also encouraging excitement, individual consideration, and incentive (Hardman, 2023). Day and Dragoni (2015) emphasized the role of transformational leaders in facilitating knowledge sharing and creating a supportive learning environment. These and many other studies indicated the positive effect of transformational leadership on learning within the organization. Leadership is considered to be one of the determinants of winning or losing during the completion of organizational tasks and/or the success or failure of the project at the national level (Koech & Namusonge, 2012). Organizations usually stress the type of leadership that provides employees with enhanced performances and can handle a heated-up working atmosphere (Obiwuru et al, 2011). The style of leadership is considered a strengthening source for the process, people, and organization (Obiwuru et al., 2011). Literature shows that organizational learning is a determinant of leadership style (Liao et al., 2017, Sun & Anderson, 2011). Though organizations have self-learning abilities, still organizational learning is well explained by transformational leadership (García?Morales et al., 2006, Gil et al., 2018) as it is essential for organizational learning (Abazeed, 2018).

Thus we propose,

H2: Transformational leadership has a positive influence on organizational learning.




Organizational Learning and CSR

Organizational learning is significant in today's fast-paced business environment. To deal with it businesses nowadays need to accept new modified practices. Organizational learning and corporate social responsibility practices are inextricably intertwined in businesses. Implementations of innovative techniques are applied by organizations for the enhancement of internal socially responsible procedures, emphasizing environmental stewardship, happiness of the customers, and quality of employees (Fortis et al., 2018). Organizational learning and transmission of knowledge are the outcomes of long-term company performance, they enable the companies to locate customers, expand in new areas, maintenance of sales, and boost profitability (Gomes & Wojahn, 2017). Corporate social responsibility initiatives are crucial for long-term success since they raise revenue and engagement. To satisfy stakeholder demands,  businesses implement worldwide strategies like green marketing (Gomes & Wojahn, 2017). Organizational learning supports innovative ideas.

A study conducted in Pakistan revealed that organizational learning serves as a bridge to connect the adoption of CSR strategies with organizational success. Organizations can maintain their competitive benefits when their managers focus on developing and utilizing learning opportunities for employees' professional growth; this in turn would become the CSR tactics (Khan & Riaz, 2023). Various studies shed light on organizational learning in the past through learning regarding a safe environment (Cramer, 2003)

Thus, we can say,

H3: Organizational learning positively influences CSR practices.




Organizational Learning as a Mediator

Five decades ago organizational learning was claimed as a way of process through which the organizations interact with their external and internal environments (March, 1963). CSR essentially challenges conventional ways of business doings and major changes are required in attitudes, business structures, strategies, and value propositions for the incorporation of CSR initiatives in business operative and decision-making processes (Maon et al., 2008). It is perceived that for the development of integrated CSR policies and actions, firms need to believe in gaining and using the latest knowledge to meet stake holder’s demands (Haugh & Talwar, 2010). Transformational leaders pave the way to encourage creativity, innovation, and a continuous learning mindset. By creating a positive work environment they make sure that employees are ready to take risks and transform themselves. Transformational leaders help in the adoption of corporate social responsibility which is the primary and secondary need of the stakeholders (Vera & Crossan, 2004). These leaders focus on environmental and social perspectives as they have strong horizons, courage for difficult decision-making, deal with complexities, and have a broader context for the firm (D'Amato &Roome, 2009). Many scholars have suggested that firms need to be learning-oriented for the accomplishment of corporate social responsibility practices (Osagie, 2016). CSR integration requires continuous acquisition and use of the latest knowledge that meets the demands of stakeholders (Mehralian et al., 2016).

H4: Organizational learning positively mediates transformational leadership and CSR practices.

Moderating Role of Green Innovation

Transformational leaders emphasize intellectual motivation, individual concern, charisma, and drive to improve cognitive talents and problem-solving efficiency. Transformational leadership boosts employee creativity since it has a significant impact on enhancing environmental performance (Jia et al., 2018). Green transformative leaders provide a relaxing work environment and boost internal motivation, enabling subordinates to get involved in innovative work with no fear of failure (Zhang, Xu, & Wang, 2020). Green innovation solutions can help to balance the interaction between transformational leadership and innovative method participation. Green innovation enhances firms' competitive advantage via organizational learning, with stakeholder and regulatory pressures mitigating the benefit. Learning activities should be used to generate a competitive edge (Tu & Wu, 2021).

With an emphasis on organization, technology, and environmental preparation, the study focuses on how competent businesses are for green innovation. A study revealed that success is dependent on several essential factors, with environmental performance and company performance having an impact. Organizations may use the research's self-assessment tool to plan their green innovation strategy for maximum sustainability (Zhang et al., 2018).  

A study by Osagie (2016) delves into the function of learning organization attributes in enhancing the execution of corporate social responsibility. The implementation of CSR is directly supported by organizational traits including group learning, system connectedness, and leadership for learning, according to the findings. However, these traits play an indirect influence in the implementation of CSR at the operational level, as organizational traits mediate their relationship. The results emphasize the significance of comprehending these elements to improve CSR procedures and encourage modification. 

By encouraging a common goal and actively utilizing organizational learning, transformational leadership has a good effect on Organizational learning. This encourages inventiveness and originality, which strengthens a business's competitive edge and produces fresh ideas for improving performance Zhang, Xu, Wang (2020). Thus we can say:

H5: Green innovation serves as a moderator between transformational leadership and organizational learning.




Conceptual Model

The conceptual framework shown in Figure 1 comprises the independent variable = the impact of Transformational Leadership, mediating variables = organizational learning, and moderating variable =  Green Innovation working, whereas the dependent variable = Corporate Social Responsibility. The conceptual model is presented in Figure 1 below:

Figure 1



Methodology

Sample and Procedure

The study collected data from the employees of various banking organizations. These organizations were taken from the Banking sector of Pakistan. A convenient purposive sampling technique has been used to collect data. The questionnaire was distributed in hard form among employees of various banks. They were given time to fill and return it. Questionnaire-based survey technique of data gathering was used.  Appropriate sample size is helpful for the generalizability of the result. An adequate sample leads to the attainment of research objectives (Sekaran & Bougie, 2016). The questionnaire was sent to many employees but only 203 people responded to the questionnaire. The focus was to gather data from only those organizations that are in the practice of CSR initiatives.

The questionnaire was sent to many people, which were contacted in person. A total number of 218 questionnaires were returned out of which 15 questionnaires were excluded due to misleading values. In case, when employees were not sure about their answer, they left blank spaces below questions. At times, respondents skip answering questions due to oversight. Respondents were chosen tenaciously for data collection.  A final sample of 203 employees was taken. Moreover, approved constructs from past research were used, measuring the variables in the Likert scale.




Measures

A review of the literature was done to find the most suitable scales that can be used to measure Transformational Leadership, Corporate Social Responsibility, Organizational Learning, and Green innovation. 

A questionnaire was designed using on 5-point Likert scale for the measurement of the constructs “ranging between 1-Strongly Disagree to 5-Strongly Agree”. Some questions were related to demographics, whereas, questions were based on various constructs of the study (Huang et al., 2014). The respondents were given assurance of the confidentiality of the data they provided. Moreover, a questionnaire was distributed by hand to each one of them.




Transformational Leadership

For measuring transformational leadership MLQ was used (Bass & Avolio, 1996). 12 items measuring transformational leadership were taken. The reliability for the particular scale was noted as 0.943.




Corporate Social Responsibility

For measuring CSR a scale was used that was previously developed in a study (Salmones et al., 2005, Maignan and Ferrell, 2000, Schaufeli et al., 2006, Zahra and LaTour, 1987). It had 8 items in all. The alpha of the scale was 0.879.




Organizational Learning

Organizational learning was measured with a 14-itemized scale by Jerez-Gomez et al. (2004). The Cronbach alpha of this measure was 0.96.




Green Innovation

Green innovation was evaluated using 6 items from (Chen et al., 2016). This six-item scale generated Cronbach’s Alpha value of 0.860 to 0.902 in the previous study.

Data Analysis

An incremental approach was used for data analysis. To validate the data, first of all, Cronbach Alpha was calculated along with reliability measures of the scale. To test the hypotheses, the PROCESS macro for SPSS from Hayes (2018) was used. It uses a bootstrap approach with a 95% biased confidence interval. A sequence was followed to test the hypotheses. Direct relationships are checked through regression analysis while moderated mediation was checked using PROCESS macros by Hayes (2018), Model 07.

 

Demographics

The sample comprised 66.8% male (N=133) and 31.7% female (N=63) respondents. Major respondents (39.9%) were between the age bracket of 25-35 while 35.5% were between 35 to 45 years of age. The majority respondents were having work experience of 5-10 Years (30.1 %)  and 11-15 years (24.0%). Regarding qualification, 52.2% of respondents (N=106) had a master’s degree while  36.5% had a bachelor’s degree (N=74).

 

Reliability and Validity

Factor loadings were extracted from CR and AVE, where the values were greater than the recommended values (? ? 0.50).  Hence, the factors verified convergent validity, and also threshold of all four factors was also verified.




 

 

Table 1

Reliability and Validity

		Construct		Loadings		Alpha		CR		AVE
Transformational Leadership		TLS1		0.81		0.943		0.943		0.582
		TLS2		0.80
		TLS3		0.83
		TLS4		0.71
		TLS5		0.75
		TLS6		0.79
		TLS7		0.72
		TLS8		0.80
		TLS9		0.72
		TLS10		0.81
		TLS11		0.71
		TLS12		0.71
Organizational Learning		OLMC1		0.71		0.953		0.953		0.591
		OLMC2		0.82
		OLMC3		0.80
		OLMC4		0.81
		OLSP5		0.79
		OLSP6		0.73
		OLSP7		0.77
		OLEX8		0.74
		OLEX9		0.77
		OLEX10		0.77
		OLEX11		0.81
		KTI1		0.74
		KTI2		0.79
		KTI3		0.69
	Green Innovation		GI1		0.83		0.928		0.931		0.692
			GI2		0.82
			GI3		0.82
			GI4		0.80
			GI5		0.82
			GI6		0.90
	Corporate Social Responsibility		CSR1		0.79		0.919		0.919		0.585
			CSR2		0.79
			CSR3		0.78
			CSR4		0.74
			CSR5		0.77
			CSR6		0.72
			CSR7		0.76
			CSR8		0.78

 




Confirmatory Factor Analysis

For Confirmatory Factor Analysis, model fit was used

 by using df, CFI, RMR, TLI, and RMSEA (Hu & Bentler, 1999). The indices are given in the table (2) below:




 

Table 2

Model Fit Indices for CFA

CMIN/DF	CFI	RMSEA	TLI
1.873	0.922	0.066	0.914

 




Common Method Bias

Data was collected in a single go and thus may have common method bias issues. The researchers have to keep the collected data securely without divulging any third party. It is a common perception that bias (CMB) is more connected to self-reported surveys or reports (Podsakoff & Organ, 1986). Still, it is also considered that CMB increases the significant relationships between different variables (Conway & Lance, 2010). For computing CMB, Harman’s single-factor method is adopted. As per the literature, if the total value of variance is above 50% it shows that CMB is there while a value below 50% negates the presence of CMB issues. This study has a single-factor variance of 45% of the total variance. For this reason, hence it is proved that there exists no CMB issue in the current study.

 

Hypotheses Testing

The study aimed to seek for direct association between transformational leadership on CSR which is also hypothesis 1 of this study. Moreover, it was found that mediators have a direct significant relationship with transformational leadership. 95% bootstrapping was utilized in SEM to examine if the hypotheses were true.




 

Table 3

Direct Effects of the Model

Direct Relationships	Standardized Coefficients	SE	p Value
Transformational Leadership -> Organizational Learning	0.974	.020	.000
Organizational Learning -> Corporate Social Responsibility	0.988	.006	.000
Transformational Leadership -> Corporate Social Responsibility	0.987	.008	.000

 




The mediator i.e. Organizational learning was examined as if there was any effect between the association of transformational leadership and CSR. The findings declared that there was a mediating role of organizational learning in the said relationship. Moreover, transformational leadership was found to impose a significant effect on organizational learning (?=0.974, p<0.000), on the other hand, organizational learning has a strong significant effect on CSR (?=0.988, p<0.001).

The subsequent table (4) shows the direct, indirect, and mediating effects between the variables of the study.




 

Table 4

Results of Mediation Analysis

Hypotheses	?	SE	p	Bootstraps at 95%
				LL	UL
Transformational leadership ? Organizational learning ? Corporate Social Responsibility
Direct effect	0.334	0.237	**	0.2873	0.3807
Indirect effect	0.343	0.208	**	0.3009	0.3837
Total effect	0.677	0.0078	**	0.6617	0.6927

*p < 0.05; **p < 0.01

 




For moderating relationships, green innovation was examined to have a moderating effect between transformational leadership and organizational learning. The process was measured with the help of Hayes Process Model 7. The moderation was explained through a significant variance. Int _1 (TLS * GI) has a significant impact on OL (? = 0.01, p< .01). Furthermore, GI has a significant impact on OL (?=-.38, p<.01) proving hypothesis 5.




 

Table 5

Moderation Analysis

Hypotheses	?		SE		p		Bootstraps at 95%
							LLCI		ULCI
Transformational  Leadership		0.957		0.685		**		0.8226		1.0926
Green innovation		0.383		0.1642		*		-0.7075		-0.0598
Transformational Leadership × Green Innovation		0.010		0.0034		**		0.0039		0.0172

*p < 0.05; **p < 0.01

 




The indirect conditional effects showed at GI were low, they however increased afterward. These effects were significant at three levels i.e. in the presence of moderator variable at 0.337, as per bootstrap, and also within the confidence interval at p<0.05 = 0.02. The indirect effects were seen one point below and above the standard deviation of the mean. Therefore, the findings indicated that the moderator variable was functional and had a significant indirect effect at 0.3191. Whereas, when it was on the high side it remained significant at 0.356. simultaneously showed that the effect increases with the increase of moderators.

Index interval=.0030 Standard era lower level era and upper level of confidence interval do not show a zero in between which means moderated mediation is present TL à OL à CSR.

Figure 2

Moderation Graph

Considering the effect of transformational leadership on corporate social responsibility it was proved that green innovation has a significant moderating impact on transformational leadership and organizational learning. Organizational learning has a mediating effect on transformational leadership and corporate social responsibility. It was observed that as the effect of organizational learning was raised the green innovation effect was raised as well.

Discussion

As per the data collected from 203 employees of the banking sector in Pakistan, this study is the first to examine the impact of transformational leadership on CSR practices with the mediating role of organizational learning. Green innovation has been integrated as a moderating variable in the model.

We have applied the stakeholder theory which implies the fact that all businesses have interconnected relationships with their investing partners, employees, consuming bodies suppliers, and all others who have a stake in it. The theory argues that the firm should add value prepositions for all the stakeholders. All the hypotheses of the study were supported.

Hypothesis 1 proposes the impact of transformational leaders on corporate social responsibility, the results showed that the hypothesis was proved as transformational leadership has a positive impact on CSR. Transformational leaders are said to be full of various traits. They play a major role in practicing CSR in the banking industry (Ming et al., 2018).

In the second hypothesis, it was proposed that transformational leaders have a positive influence on organizational learning. They help their employees achieve goals because of their inspirational and intellectual characteristics. Ajanaku and Lubbe (2021) study suggested that a study was done by Kouzes and Posner in which they studied 75000 leaders and concluded that transformational leaders were the ones who model the way, provide inspiration for shared vision, take challenges for the process, and let others act.

Moreover, the third hypothesis suggests that organizational learning positively influences CSR initiatives in the banking sector of Pakistan. It is observed that when a firm deploys CSR in its culture it is faced with multiple challenges regarding multifaceted and complex concerns (Maon et al., 2008), though the need to translate these concerns into organizational intentions (Basu and Palazzo, 2008) for the effective usage of objective and subjective knowledge (Siltaoja, 2013).

The next hypothesis proved significant stating that organizational learning positively mediates transformational leadership and CSR. Transformational leaders are the ones who incorporate CSR practices in an organization through their innovative methods and encourage training programs in employees through the organizational learning process. Initiatives such as protecting the environment, cost-effective methodologies entailment of multiple learning processes, and development of knowledge in done through these leaders (Christmann, 2000).

Furthermore, hypothesis 5 focused on the moderating effect of green innovation on the relationship between transformational leadership and organizational learning. Green innovation is aligned with the transformation and modifications of businesses. Transformational leaders are the ones who help organizations cope with the new change wave in business models by gaining a competitive advantage over others. Hotho et al. (2015) suggest that exploratory learning helps in the promotion and adoption of new knowledge by enhancing market demand response and regulating business policies, therefore adding to the implementation of transformational innovation, like green innovation.

The study aims to explore the relationship of transformational leadership on corporate social responsibility with the mediating effect of organizational learning. Furthermore, a moderating effect of GI has been observed in the banking sector of Pakistan. To achieve this objective, we used a mediating moderated relationship model to justify the moderating impact of green innovation on transformational leadership and organizational learning. Two outcome variables were observed individually i.e.; organizational learning and corporate social responsibility. In addition, the study used a survey approach for data collection. Only those banks were shortlisted for data collection which were practicing in corporate social responsibility initiatives. 

Implications

This study contributes to the knowledge of the

managers by stating that the transformational style of leadership exhibits the phenomena of building corporate social responsibility in firms. The role of organizational learning mediates the transformational leader and corporate social responsibility. Secondly, this study tells managers that organizational learning is an important factor in adapting new ways in organizations such as CSR practices. Furthermore, this study is helpful for innovation implications in organizations through the green innovation concept as it has a positive influence on the organization’s environment.




Limitations and Future Directions

There is a void gap in extant literature concerning the implementation of CSR in the banking sector of Pakistan. Therefore, new research shall take place to open more horizons to explore the reasons that hinder the adaptation of CSR practices such as government contribution towards policy and regulations, lack of infrastructure and expertise of leaders’ management training programs, Insufficiency of legal guidelines and framework established by regulatory bodies and the government. Moreover, qualitative research could be conducted. With the help of in-depth interviews with the leaders, more comprehensive data could be generated. Data and Silverman (2011) stated that qualitative research methods are found to be more useful in investigating the behavior of people.

Conclusion

The study aims to explore the relationship of transformational leadership on corporate social responsibility with the mediating effect of organizational learning. Furthermore, a moderating effect of GI has been observed in the banking sector of Pakistan. To achieve this objective, we used a mediating moderated relationship model to justify the moderating impact of green innovation on transformational leadership and organizational learning. Two outcome variables were observed individually i.e.; organizational learning and corporate social responsibility. In addition, the study used a survey approach for data collection. Only those banks were shortlisted for data collection which was practicing corporate social responsibility initiatives. 

Leadership plays a significant role in incorporating social policies in various banks. Developed nations including the USA, Canada, Germany, and Great Britain have strict laws that make Corporate Social and Environmental Reporting (CSER) mandatory in the companies' annual report but these laws are missing in developing nations like Pakistan, Bangladesh, and India (Ullah, 2013). Even if these laws are made there is no proper enforcement thus leading to lenient or no incorporation by banks and other organizations. Most, if not all, managers and senior shareholders lack sustainable education and therefore cannot comprehend and conceptualize CSR in their banking operations (Lee et al., 2009). Therefore, there is a need to incorporate social and environmental awareness into our education system.

The government of Pakistan should revise its policies for the encouragement of CSR participation by the banking sector of Pakistan. Moreover, the government should develop interest in different banking sectors in CSR activities by arranging awareness seminars and training regarding the importance of CSR. Government bodies need to implement eco-friendly product usage and support technological advancement which helps in carbon emission control.

Financial constraint is one major predominant aspect in the implementation of CSR practices. However, few banks are taking green banking seriously and managing it strategically. Private Banks reported that they have set an annual budget for CSR whereas Government banks lack these funds.

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