Sectoral distribution of direct CSR expenditure by banks (2007–2020).
\r\n\tThe present book intends to provide to the reader a comprehensive overview of the state of art in empathy studies, embracing the different theoretical points of view and illustrating the advanced research such as the application of new technologies to promote perspective-taking. The critical aspects and the future directions of the study on empathy will also be presented.
",isbn:"978-1-80356-612-2",printIsbn:"978-1-80356-611-5",pdfIsbn:"978-1-80356-613-9",doi:null,price:0,priceEur:0,priceUsd:0,slug:null,numberOfPages:0,isOpenForSubmission:!1,isSalesforceBook:!1,isNomenclature:!1,hash:"4c1042dfe15aa9cea6019524c4cbff38",bookSignature:"Ph.D. Sara Ventura",publishedDate:null,coverURL:"https://cdn.intechopen.com/books/images_new/11443.jpg",keywords:"Theoretical Model, Skill, Perspective Taking, Training Programs, Practical Implications, Advanced Research, Future Directions, Virtual Reality, Augmented Reality, New Trends, Assistive Technology",numberOfDownloads:19,numberOfWosCitations:0,numberOfCrossrefCitations:0,numberOfDimensionsCitations:0,numberOfTotalCitations:0,isAvailableForWebshopOrdering:!0,dateEndFirstStepPublish:"April 1st 2022",dateEndSecondStepPublish:"June 8th 2022",dateEndThirdStepPublish:"August 7th 2022",dateEndFourthStepPublish:"October 26th 2022",dateEndFifthStepPublish:"December 25th 2022",dateConfirmationOfParticipation:null,remainingDaysToSecondStep:"2 months",secondStepPassed:!0,areRegistrationsClosed:!0,currentStepOfPublishingProcess:4,editedByType:null,kuFlag:!1,biosketch:"Passionate researcher in the application of new technologies to psychological treatments, neuro-rehabilitation, human behavior, and the evolution of the human-computer interaction. In 2017 Dr. Ventura won a competitive grant (Santiago Grisolia) at the University of Valencia at LABPSITEC group, where she was awarded her Ph.D. degree, supervised by Prof. Rosa Baños at the University of Valencia, and co-directed by Prof. Giuseppe Riva of the Catholic University of Milan.",coeditorOneBiosketch:null,coeditorTwoBiosketch:null,coeditorThreeBiosketch:null,coeditorFourBiosketch:null,coeditorFiveBiosketch:null,editors:[{id:"227763",title:"Ph.D.",name:"Sara",middleName:null,surname:"Ventura",slug:"sara-ventura",fullName:"Sara Ventura",profilePictureURL:"https://mts.intechopen.com/storage/users/227763/images/system/227763.jpg",biography:"Sara Ventura gained a B.Sc in Psychology at the University of Padua (Italy) in 2013 and an M.Sc. in Ergonomic Psychology at the Catholic University of Milan (Italy) in 2015. In 2016, she carried out a postgraduate training at Universidad Nacional Autónoma de Mexico (Mexico) at the Ciberpsychology lab, working on a rehabilitation protocol for people with acquired brain injury through Virtual Reality. In 2020, Sara gained the Ph.D. in Clinical Psychology at University of Valencia (Spain) working with the LabPsitec group and focusing her research on the study of embodiment and empathy with the support of Virtual Reality. Actually, she is working both with Alma Mater Studiorum – University of Bologna (Italy), and the University of Valencia (Spain) on the fields of embodiment, stroke rehabilitation, empathy and patient care. Her research interests mainly focus on the adoption of new technologies, particularly Virtual/Augmented Reality and Artificial Intelligence for the psycho-social wellbeing with clinical and non-clinical populations, the study of human-computer interaction, and the user experience. She is the author of several scientific papers and various presentations at national and international conferences.",institutionString:"University of Valencia",position:null,outsideEditionCount:0,totalCites:0,totalAuthoredChapters:"1",totalChapterViews:"0",totalEditedBooks:"0",institution:{name:"University of Valencia",institutionURL:null,country:{name:"Spain"}}}],coeditorOne:null,coeditorTwo:null,coeditorThree:null,coeditorFour:null,coeditorFive:null,topics:[{id:"21",title:"Psychology",slug:"psychology"}],chapters:[{id:"82719",title:"Empathy as a High-Performance Competency",slug:"empathy-as-a-high-performance-competency",totalDownloads:14,totalCrossrefCites:0,authors:[null]},{id:"82888",title:"From Empathy to the Aggression–Compassion Continuum",slug:"from-empathy-to-the-aggression-compassion-continuum",totalDownloads:5,totalCrossrefCites:0,authors:[{id:"191531",title:"Dr.",name:"Neil E.",surname:"Grunberg",slug:"neil-e.-grunberg",fullName:"Neil E. Grunberg"},{id:"191532",title:"Dr.",name:"Erin S.",surname:"Barry",slug:"erin-s.-barry",fullName:"Erin S. Barry"}]}],productType:{id:"1",title:"Edited Volume",chapterContentType:"chapter",authoredCaption:"Edited by"},personalPublishingAssistant:{id:"455410",firstName:"Dajana",lastName:"Jusic",middleName:null,title:"Mrs.",imageUrl:"https://mts.intechopen.com/storage/users/455410/images/20500_n.jpeg",email:"dajana.j@intechopen.com",biography:"As an Author Service Manager my responsibilities include monitoring and facilitating all publishing activities for authors and editors. From chapter submission and review, to approval and revision, copyediting and design, until final publication, I work closely with authors and editors to ensure a simple and easy publishing process. 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Whether that be identifying an exceptional author and proposing an editorship collaboration, or contacting researchers who would like the opportunity to work with IntechOpen, I establish and help manage author and editor acquisition and contact."}},relatedBooks:[{type:"book",id:"6494",title:"Behavior Analysis",subtitle:null,isOpenForSubmission:!1,hash:"72a81a7163705b2765f9eb0b21dec70e",slug:"behavior-analysis",bookSignature:"Huei-Tse Hou and Carolyn S. 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Venkateswarlu",coverURL:"https://cdn.intechopen.com/books/images_new/371.jpg",editedByType:"Edited by",editors:[{id:"58592",title:"Dr.",name:"Arun",surname:"Shanker",slug:"arun-shanker",fullName:"Arun Shanker"}],productType:{id:"1",chapterContentType:"chapter",authoredCaption:"Edited by"}},{type:"book",id:"3092",title:"Anopheles mosquitoes",subtitle:"New insights into malaria vectors",isOpenForSubmission:!1,hash:"c9e622485316d5e296288bf24d2b0d64",slug:"anopheles-mosquitoes-new-insights-into-malaria-vectors",bookSignature:"Sylvie Manguin",coverURL:"https://cdn.intechopen.com/books/images_new/3092.jpg",editedByType:"Edited by",editors:[{id:"50017",title:"Prof.",name:"Sylvie",surname:"Manguin",slug:"sylvie-manguin",fullName:"Sylvie Manguin"}],productType:{id:"1",chapterContentType:"chapter",authoredCaption:"Edited by"}},{type:"book",id:"72",title:"Ionic Liquids",subtitle:"Theory, Properties, New Approaches",isOpenForSubmission:!1,hash:"d94ffa3cfa10505e3b1d676d46fcd3f5",slug:"ionic-liquids-theory-properties-new-approaches",bookSignature:"Alexander Kokorin",coverURL:"https://cdn.intechopen.com/books/images_new/72.jpg",editedByType:"Edited by",editors:[{id:"19816",title:"Prof.",name:"Alexander",surname:"Kokorin",slug:"alexander-kokorin",fullName:"Alexander Kokorin"}],productType:{id:"1",chapterContentType:"chapter",authoredCaption:"Edited by"}}]},chapter:{item:{type:"chapter",id:"18180",title:"Control of Mammalian Cell Behaviour Through Mimicry of the Extracellular Matrix Environment",doi:"10.5772/19343",slug:"control-of-mammalian-cell-behaviour-through-mimicry-of-the-extracellular-matrix-environment",body:'Cell adhesion to the extracellular matrix (ECM) is primarily mediated through integrin receptors and contributes to numerous physiological and pathological processes. It would be most attractive for biomedical implants to interact with the surrounding host tissue in a manner which promotes the healing process, beginning with cell adhesion and growth. This calls for a good understanding of the mechanisms by which the ECM is involved in the control and organization of cellular processes for wound healing and tissue regeneration. Alongside the critically important fields of cell signalling, circulating hormones, cytokines and extracellular proteases, the role of the structure, organization and stiffness of the ECM can be overlooked. It is the intention of this review to discuss the various approaches that have been used to mimic the structural and dynamic aspects of native ECM proteins, and how these may modulate cell behaviour. It is clear that molecular biology has much to contribute, since protein constructs are now routinely expressed, circumventing the need to purify protein molecules (e.g. collagen, laminin, vitronectin and fibronectin) from plasma or tissue. Thus, protein engineering has become an essential tool for development of multi-functional mimics of the ECM. Since integrins mediate the signalling pathways involved in cell-ECM attachment, and subsequent self-renewal/differentiation in the case of embryonic stem cells, these cell surface receptors will be briefly introduced. The review will then move onto the key protein components of the ECM and contemporary studies which have utilised this knowledge to generate novel biomaterials able to control cell behaviour.
Integrin receptors are recognized as one of the most important cell surface adhesion and signalling receptors, and are widely expressed in many cell types such as smooth muscle, endothelium, platelets, and osteoclasts. Integrins are a family of heterodimers consisting of two transmembrane subunit proteins (α and β) that are non-covalently bound but inter-dependent for correct ligand binding. Eighteen α and eight β subunits have been listed in humans to date with 24 dimeric combinations identified, each having distinct binding profiles to the various extracellular ligands. For instance, osteoclasts bind collagen via α1β1 and α2β1 integrins whereas fibroblasts bind fibronectin (FN) and vitronectin via α5β1 and αvβ3 integrins, respectively. Several integrins can recognize the same ligands with varying affinity. Both α and β subunits have large extracellular domains composed of a membrane distal, globular head (~ 700-1100 residues). The crystal structures of the extracellular segment of αvβ3 in ligand-occupied and non-occupied states have been exceptionally important in understanding the ligand/receptor recognition process at the atomic level.
Electron micrographs of the complete ectodomain, which includes the headpiece with the ‘lower leg’ calf and epidermal growth factor (EGF)-like domains of the α and β subunits, respectively, have been acquired for integrin αIIbβ3 in its rested and activated state. It appears that the integrin receptors are in a compact ‘bent’ form when inactive, which results in the head domains (the β-propeller and the β-I domain of the α and β subunits, respectively) lying close to the cell membrane, and an extended ‘standing’ conformation when activated. A low resolution electron micrograph structure of a recombinant fibronectin fragment bound to the ‘headpiece’ (the head domains with the thigh and hybrid/plexin-semaphorin-integrin (PSI) domains of the α and β subunits, respectively) of integrin α5β1 has also been published. The dimensions of the integrin ectodomain in the crystal structure are approximately 80 × 90 × 110 Å and a similar estimation can be inferred from the accompanying low resolution electron microscopy (EM) structures. Superposing the crystal structure onto the electron micrographs has also been informative to understanding the large conformational changes associated with the α/β subunits upon ligand binding and activation. Both the α and β subunits span the cell membrane and interact with the actin cytoskeleton via vinculin or talin during cell signalling.
The binding of a ligand to an integrin receptor causes tyrosine phosphorylation of the β subunit cytosolic domain by v-src. This in turn facilitates the binding of cell actin filaments and intermediary proteins (vinculin and talin) which form complexes associated with the focal adhesion structures. Thus, integrins are thought to exist on the cell surface in an inactive form and can be activated either by binding ECM (outside-in signalling), but also by intracellular signalling (inside-out signalling). Outside-in signalling involves cell adhesion, proliferation, migration, differentiation and apoptosis. Inside-out signalling involves, for example, platelet aggregate via αIIbβ3 activation leading to haemostasis. Integrin receptors may alternate between active and inactive states by conformational changes of the ligand binding sites from a high affinity state (active) to a low affinity state (inactive).
Integrin receptors are usually present at 10-100 fold higher concentrations on the cell surface than other non adhesive receptors. Moreover, it has been noted that integrins cluster when binding to their ligands, which can be observed at focal adhesions by immuno-microscopy. It is likely that the ECM binds a large number of integrins in a polyvalent manner, increasing binding affinity. However, tight regulation over integrin recruitment activation state and binding affinity must be maintained in order to facilitate transitional cell detachment during cell migration. In association with the formation of focal adhesions is a force dependent “adhesion strengthening” process. This adhesion reinforcement can be induced through the use of synthetic ligand matrices as discussed further below.
Vitronectin is a small multifunctional adhesive glycoprotein which is mostly present in the blood as a monomer, but can also be found as a multimer (up to 16-mer) in the ECM of various tissues. The polypeptide chains often can be in the form of two molecular species of around 60 and 75 kDa, of which up to 30% is a result of glycosylation. The recognized cell binding domain sequence ‘arginine-glycine-aspartic acid’ (‘RGD’) is present, facilitating binding to the integrin subtypes αvβ3 and αvβ5 and through this, cell adhesion is initiated. The formation of multimeric vitronectin clusters has been shown to increase heparin binding when compared to the monomeric form. These multimers can also form following binding of the molecule to plasminogen activity inhibitor PAI-1. More recently, it has been shown that to achieve enhancement of cell adhesion and spreading, oligomerisation must be initiated and that this process requires the heparin binding domain. A newly engineered construct called sVnHBD represents the minimal vitronectin domain requirement for integrin dependent cell adhesion and spreading function of vitronectin (Fig. 1). Senile plaques in the Alzheimer-diseased brain have been shown to have vitronectin immunoreactivity. Further study suggested that vitronectin aggregation mirrors that of amyloid protein, the misfolded products of which may therefore contribute to age-related amyloid disease.
a) Recombinant vitronectin constructs: Vn, sVn, and sVnHBD constructs were generated by cloning respective vitronectin inserts into pRSETa for poly-histidine tag fusion or pGEX6P2 vector for GST fusion. (b) Purified vitronectin proteins were subjected to 12% reducing SDS-PAGE to assess the level of purity. Lane 1 is GST-Vn, lane 2 is GST-sVn and lane 3 is GST-sVnHBD. M represents the marker lane showing the marker weight in KDa. (Reprinted from FEBS Lett., vol. 584, C. R. Chillakuri, C. Jones and H. J. Mardon, Heparin binding domain in vitronectin is required for oligomerization and thus enhances integrin mediated cell adhesion and spreading, 3287-91, Copyright 2010, with permission from Elsevier.).
Collagen is a multichain glycoprotein constructed from three polypeptide units forming a unique triple-helix conformation. It is a major structural component if the ECM and the most abundant of the structural proteins. There are at least 20 different kinds of genetically distinct molecules which based on structural features can be categorized as fibril forming (types I, II, III, V and XI) and network-forming (types IV, VIII and X), with type I being the most common in the ECM. This key component of the ECM is a versatile substrate for supporting cell proliferation and differentiation. Collagen in itself represents a very large, active field of research, the scope of which cannot be given justice in this review; the reader is therefore directed to previous, excellent reviews such as that by. Structural and functional collagen mimetic peptides (CMPs) harboring integrin binding motifs (GFOGER) to achieve ‘bioadhesiveness’ have proven useful in the synthesis of biologically relevant matrices when used in combination with polymeric scaffolds, for the culture of hepatic cells towards liver tissue engineering. A recent innovation has been to embed collagen microfibres with defined orientations and densities in engineered elastin-like matrices, yielding thin lamellae with a specified stiffness, which have been tested
Interactions via the basement membrane are mediated by the engagement of laminin with several integrins including α3β1 α6β1 α7β1 α6β4. The structural conformation of laminin involves three non-identical polypeptide chains: α, β and γ, which form cross shaped molecules in mammals. There are five α, three β and three γ subunits identified which can combine to produce 15 isoforms. The function of laminin is determined by the subunit combination which can be selective for multiple cell adhesive regions including the RGD motif, which is located on the amino-terminal half of the α chain. It has been determined that integrin binding is specifically governed by the α chains. The mouse laminin α1 chain 2719-2730 (RKRLQVQLSIRT, termed AG73) is a syndecan-binding peptide which promotes cell adhesion, migration and invasion. In an elegant study demonstrating the importance of using a composite approach to mimicry of the ECM, AG73 was combined with collagen as a cell substrate for cell culture. Human dermal fibroblasts (HDFs) developed strong actin filaments when grown on AG73/collagen substrates but not on AG73 alone or substrates with low collagen concentrations (Fig. 2). The full importance of laminin is still emerging; for example, direct interaction between laminin and retinal ganglion cells is required for full axon emergence and orientation
In humans, the FN gene is comprised of 46 exons within an 82 kb gene and is located on chromosome 2 (2q34). Due to extensive alternative splicing of FN pre-mRNA, there are 20 potential isoforms of FN leading to variants with different functions. The occurrence of splicing gives rise to insoluble cell associated FN (cFN) and soluble plasma FN (pFN). FN usually exists as a dimer of about 500 kDa composed of two subunits linked by a disulphide bond near their C-terminus. Isopeptide bonds form between FN dimers in the N-terminal domain to form insoluble (cellular) cFN. The association of FN with cell surface integrins is the main motivator behind this process.
The FN monomers consist of three types of repeating unit, termed type I, type II and type III. Each repeating unit has a different number of amino acid residues with type I usually consisting of about 40, type II comprising of approximately 60 and type III having around 90 amino acids. Furthermore, type I and II each have two intrachain disulphide bonds while type III domains do not contain any disulphides. Typically, FN contains 12 type I repeats, each with stacked β-sheets enclosing a hydrophobic core. There are two type II repeats comprising disulphide linked perpendicular anti-parallel β-sheets. Type III repeats make up approx. 90 % of the FN sequence, with 15 to 17 repeats.
There are at least 11 heterodimeric integrins which FN can bind to in a cell and tissue specific manner, the best characterised of these are integrins α5β1 and αvβ3. FN also contains multiple binding sites for other ECM compounds including heparin and collagen. The short polypeptide sequence, RGD, located on the peptide loop in the 10th FN type III domain (FIII10) is the key attachment site for integrins. In addition to this sequence, a “synergy site” (PHSRN) has been located to the 9th FN type III domain (FIII9), which is required for
Cell spreading on AG73/collagen matrices. A; HDFs (5 × 103 cells) were allowed to attach for 1 h and then stained with crystal violet. Photomicrographs of attached cells on AG73 (3 pmol/mm2), low amount of collagen matrices (Low collagen: 30 pg/mm2), AG73/low amount of collagen matrices (AG73/low collagen: AG73 = 3 pmol/mm2, collagen = 30 pg/mm2), and high amount of collagen matrices (High collagen: 150 pg/mm2). Scale bar = 50 μm. B; AG73 (3 pmol/mm2), low amount of collagen (Low collagen: 30 pg/mm2), AG73/low amount of collagen (AG73/low collagen: AG73 = 3 pmol/mm2, collagen = 30 pg/mm2) were coated on 8-well glass chambers. HDFs (8 × 103 cells) were allowed to attach for 1 h. Cells were fixed, and then stained with phalloidin, anti-vinculin antibody, and DAPI for actin filaments (green), focal contacts (red), and nucleus (blue). Scale bar = 50 μm. C; Images were captured and the area of the attached cells was measured using Bio Zero microscope (Keyence). The attached cells in three randomly selected fields were evaluated. Each value represents the mean ± S.D. of triplicate experiments. Triplicate experiments gave similar results. *P < 0.001, n.s. = not significant. (Reprinted from Biomaterials, vol 32, Y. Yamada, F. Katagiri, K. Hozumi, Y. Kikkawa, M. Nomizu, Cell behavior on protein matrices containing laminin α1 peptide AG73, 4327-35, Copyright 2011, with permission from Elsevier.)
maximum binding to integrin α5β1. Conformational stabilisation of FIII9 occurs through interaction with its neighbouring domains, particularly the 8th type III FN domain (FIII8). The domain-domain mobility between FIII9 and FIII10 is unusually high; constricting this mobility by introducing an interdomain disulphide bridge brings about a change in the relative orientation between the RGD- and PHSRN-bearing loops and a decrease in α5β1 binding avidity (Fig. 3). Thus, while cell adhesion and spreading can be controlled through site-directed mutation of key residues in binding motifs, an alternative route would be to subtly alter the FIII9/FIII10 scaffold architecture.
Ribbon diagram of a mutant FIII9–10 domain pair constrained through an additional disulphide bridging the domain-domain interface. The PHSRN and RGD motifs on FIII9 and FIII10 are shown as sticks in magenta and blue, respectively. The added disulphide bridge is shown as sticks, with sulphurs shown in yellow. Atomic coordinates were obtained from the Protein Data Bank (
Interaction of cells with artificial ECM matrices
The concept of temporal regulation of cell adhesion in synthetic scaffolds was also introduced for human mesenchymal stem cell (hMSC) culture. This built on data showing that upregulation the matrix metalloproteinase MMP-13 by hMSCs was coincident with down regulation of FN deposition, as normally required for chondrogenesis. The polyethylene glycol (PEG)-peptide matrices developed were interesting because for the first time, biomaterials with an inherent ability to down regulate cell adhesion were demonstrated. The PEG hydrogels were tethered to peptides harbouring the MMP-13 cleavage site and RGD motif (full sequence, CPENFFGRGDSG), and then utilised to encapsulate hMSCs for culture (Fig. 4). The hMSCs encapsulated in either cleavable or non-cleavable (control) PEG-RGD hydrogels and cultured in chondrogenic media were seen to maintain their viability over 11 days. However, over the following 2 weeks, the hMSCs cultured in cleavable PEG-RGD substrates lost their viability by around 66% because MMP-13 production caused RGD cleavage from the PEG polymeric scaffold.
hMSCs were entrapped in PEG–peptide gels in either control (▲) or chondrogenic (■) media. The composition of the gels was either PEG with 10 mM CRGDSG (non-cleavable RGD, open symbols) or PEG with 10 mM CPENFFGRGDSG (cleavable RGD tether, closed symbols). The cell constructs were analysed for viability as measured via DNA amounts and normalized to the initial time point (A). These cell/gel materials were also analysed for glycosaminoglycan deposition (B). Finally the cell-surface integrin (α5β1) was stained in the cleavable RGD chondrogenic culture on day 3 (C) and day 24 (D) to determine the regulation of this adhesion binding complex. Heavy red staining on day 3 is indicative of integrin surface markers, where little to no red staining on day 24 indicates that this marker has been down regulated by the cell. (Reprinted from Biomaterials, vol. 29, C. N. Salinasa and K. S. Anseth, The enhancement of chondrogenic differentiation of human mesenchymal stem cells by enzymatically regulated RGD functionalities, 2370-2377, Copyright 2008, with permission from Elsevier.)
Photo-activated cleavage is an attractive approach since it is more efficient and controllable than endogenous of exogenous enzyme mediate cleavage. Previously, photo-activated cleavage of RGD from 2-dimensional (2-D) cell substrates has also been achieved but only to switch cell adhesion ‘on’ or ‘off’. The development of selectively adhesive plasticware in which the use of UV light could control the adhesion of cells was achieved by the use of photo-caged RGD based peptide. This has been done in two comparably different manners. Firstly, a carboxylic acid side chain, 3-(4,5-Dimethoxy-2nitrophenyl)-2-butyl ester (DMNPB), was introduced onto the aspartic acid of RGD. The introduction of this may have affected the steric hindrance or conformation of the peptide which reduced binding affinity, shown by reduced fibroblast cell attachment. The irradiation of the plate cleaved the DMNPB, this was demonstrated by increased DMNPB in solution measured by UV absorbance following UV incubation at 364 nm for 2 hours, and increased spreading of fibroblasts plated onto surface. Direct blocking of the RGD motif using a 2-nitrobenzyl group has also been employed by introduction of nitrobenzyl at the amide bond between the Gly and Arg. The placement of the group here essentially switched off the binding capability, which was then restored by UV irradiation; this was demonstrated in an exposure dependant manner. A non-linear relationship between exposure time and cell adhesion was found, suggesting that there may be an upper limit for adhesion. Although not detailed in these studies, there is the potential for cell damage from heat produced by the light source. The use of a small nitrobenzyl group would preferable in a hope that it would not irreversibly alter the binding peptide. The coupling of this with integrin selective binding peptides/proteins would be interesting for further studies to control 2-D and 3-dimentional (3-D) tissue matrices.
Organization of FN fibrils in the extracellular matrix renders a polyvalent display of ligand to cell surface integrin receptors. Previous work has shown that integrin-driven polymerization of soluble FN is dependent on extension of the FN monomer in order to expose self-associating sites. The resultant fibrils are able to undergo extension/contraction over a four-fold change in length, yielding an elastic matrix. Such dynamic movements within the cell matrix inevitably change both the matrix rigidity and the spatial arrangement of the ligand display ‘seen’ by the cell. Interestingly, fibroblasts have been shown to probe the elasticity of their supporting matrix, responding to greater elasticity with increased motility and protruding lamellipodia but decreased ‘spread’ morphology. A key driver in biomaterials research has been the search for suitable mimics to the dynamic nature of the ECM, with some solutions described above. A vast amount of work has focussed on the RGD motif which is found in multiple ECM proteins and is probably the most recognized peptide sequence associated with cell adhesion. It is therefore a predictable target for simulated cell adhesion to surfaces.
However, there have been recent challenges to the extent to which peptides like RGD can accurately mimic the local cellular environment, despite ingenious engineering approaches. One concern is the ability of peptides to selectively bind the different integrin subtypes, and here protein fragments may prove more useful since they have been shown to distinguish between integrin α5β1 and α5β1 subtypes. Similarly, the affinity of binding to the several integrin receptors which recognize the sequence may be modulated by the conformation of the RDG loop and the surrounding amino acids within the protein. There are two fibronectin fragments which are commonly reported in the literature. The first is a domain pair encompassing the 9th-10th type III FN domains (FIII9-10), wherein a key substitution of proline for leucine-1408 in FIII9 is used to increase the conformational stability of this domain by introducing a Pro-Pro pair (cf. Fig. 3). This mutant, termed FIII9’10, has been used to generate polyvalent ECM mimics and support embryonic stem cells, discussed below. The second fragment is larger and encompasses the 7th-10th type III FN domains (FIII7-10).
Since FN exists in the ECM as a dimer presenting six cell adhesion domains within a small area, when emulating this polyvalent display it would be prudent to strive for a similar tactic, suggesting that multimeric, clustered ligands would be preferable. Multimeric ligands displaying the RGD motif have been shown to better support cell motility and migration compared to monomeric ligands. Furthermore, higher ligand density and cluster size has been shown to increased the strength of attachment of fibroblast cells. Although simple non-clustered RGD ligands were capable of supporting cell attachment, they were unable to exhibit full spreading of fibroblast cells. An alternative approach to generating a polyvalent RGD display as has been the self-assembly of β-sheet peptides harboring RGD which form regular nanofibre structures. Some related amphiphilic peptide assemblies have involved elaborate work to include both the RGD and PHSRN peptide motifs, generating fibres around 10 nm in diameter and several microns in length. Such self-assembly approaches challenge the need to coat non-functional polymeric 3-D scaffolds with bioadhesive peptides/proteins, but may be limited with regard to scale-up/cost for clinical application.
However, as mentioned above, RGD peptides have certain limitations in their ability to recapitulate key aspects of the ECM, particularly integrin subtype selection. The challenge is to design self-assembling systems for protein fragments, but taking into account their labile nature: that is, one cannot simply expose proteins to synthetic chemistry which involves organic solvents likely to unfold the protein fragment. Ideally, the self assembly of proteins would involve the independent formation of an organized stable structure through non-covalent forces such as hydrogen bonds, ionic bonds and van der Waals interactions. The application of self assembling proteins is diverse and has included the pH induced formation of a self assembled artificial protein hydrogels. Application to biomimetic materials has been explored by compiling helical coiled-coils for di-, tri- and tetra-helical multimers. The stability and order of these coiled coil structures has been encouraging for application towards functional biomaterials.
The construction of a coiled coil system involving FN has been achieved by selective mutation of key amino acids in a heptad repeat of the GCN4 leucine zipper helix to allow for direct self assembly of parallel coiled coils. A spacer based on an IgG hinge was included to prevent steric clashes between bound integrin receptors (i.e. N-FIII9’10-hinge-coiled coil-C). In this case, the mutant fibronectin fragment FIII9’10 was utilized because of its previously reported conformational stability. In this way, the FIII9’10-dimer, -trimer and -tetramer were constructed, and the effect of these multimeric systems on baby hamster kidney cells and primary endometrial stromal cells was analysed. For both fibroblast and stromal cell lines, increased cell attachment and spreading were observed with increasing multimerisation of FIII9’10. The morphology of the spread stromal cells on the FIII9’10-tetramer recapitulated their spread morphology on FN (Fig. 5), and suggests that multimeric constructs will have a role to play in endometrial tissue engineering. Translation of these cell data from 2-D ligand displays to 3-D scaffolds under perfusion culture is currently underway.
Morphology of EnSCs on surfaces derivatised with multimeric and monomeric integrin α5β1 ligands. Cells were plated onto neutravidin surfaces incubated with 0.5 µM ligand coating concentration of FIII9\'10-GGC (A), FIII9’10 (B), dimer (C), trimer (D), tetramer (E) and FN (F), and stained for vinculin (green), actin (red), and nuclei (blue). Bar, 16 µm. (Reprinted from Biochem. Biophys. Res. Commun., vol. 407, Z. Li, M. Kreiner, C. F. van der Walle, H. J. Mardon, Clustered integrin α5β1 ligand displays model fibronectin-mediated adhesion of human endometrial stromal cells, 777-82, Copyright 2008, with permission from Elsevier.).
Non-specific adsorption of a protein to a surface usually involves the incubation of the desired surface in a protein solution. The protein adsorbs to the surface through non specific interactions such as hydrophobic and electrostatic forces. Directed protein adsorption through covalent surface modification involves the attachment of mechanisms to the ligand display. These can be in the form of, polymer side chains, self assembling monolayers or components of a lipid bilayer. The generation of model substrates which present defined binding motifs, such as RGD, from the ECM are subjected to many issues. The importance of ligand conformation may be compromised by the immobilized proteins undergoing denaturation or adsorption in the ‘incorrect’ orientation (i.e. resulting in the ligand not being available for receptor binding). In order to have well defined substrates with reproducible results these changes during adsorption should be characterized and/or controlled.
The non-specific adsorption of a protein from bulk solution to a solid/liquid interface may incur: i) a change in its conformation, ii) relaxation and partial desorption, iii) reorientation and alignment as a function of surface coverage. The protein layer may also undergo transition from a monolayer to a multilayer as the surface becomes saturated. Changes in orientation and surface coverage were seen for random adsorption of FN fragments, wherein the adsorption model was analogous to the surface pressure area isotherm of surfactants. Concomitant structural changes were also observed during the random adsorption of FIII9’10 to silica, wherein a distorted, non-native conformation was observed to be associated with the aromatic residues being held in a more ridged state. However, in order to better define the relationship between cell behavior and a 2-D ligand display, it is necessary to characterise the ligand pattern and density that is interrogated by the cell surface integrin receptors. This requires an engineering approach in which ligands are tethered in a controlled manner to the surface. Such approaches have been described for RGD-peptides at least, with the development of comb-like polymers and self-assembling monolayers (SAMs) permitting the calculation of ligand densities and ligand clustering.
Application of SAMs to larger protein domains remains unclear since the cross-linking of proteins to the gold/alkanethiolate brush border appears to leave significant proportions of the immobilised protein non-specifically adsorbed. Similarly, one report for cross-linking FIII7-10 to adsorbed BSA did not address random ligand orientation or adsorption-induced unfolding. A carrier or tether facilitating uniform ligand orientation upon immobilisation is therefore required. Such tethers have been described for FN fragments, using either a unique C-terminal cysteine residue which can be specifically biotinlylated for controlled binding to a streptavidin surface (Fig. 6), or covalent conjugation through a synthetic protocol. With respect to the latter, clinical-grade titanium implants grafted with a non-fouling polymer coating, functionalised with a controlled density (0.9 pmol/cm2) of FIII7-10 have been tested
An important outcome of the studies on ECM-directed control of cell behaviour will be improvements in our ability to grow mammalian embryonic stem (ES) cells in culture systems completely free of animal material. Given the therapeutic potential for cultured cells, development of such animal free systems is a major imperative. This is most pressing in the field of stem cell biology where human ES (hES) cells provide a potentially novel source for the derivation of transplantable tissue specific cell types. ES cells were initially developed from the inner cell mass of the d3.5 murine blastocyst and have been demonstrated to be capable of contributing to all three germ layers of the developing embryo. These murine ES (mES) cells can differentiate
Cartoons of the biotinylated monomeric (FIII9\'10-GGC) and multimeric integrin α5β1 ligands orientated to the neutravidin coated 2D substrates. (Reprinted from Biochem. Biophys. Res. Commun., vol. 407, Z. Li, M. Kreiner, C. F. van der Walle, H. J. Mardon, Clustered integrin α5β1 ligand displays model fibronectin-mediated adhesion of human endometrial stromal cells, 777-82, Copyright 2008, with permission from Elsevier.).
Poly(OEGMA) brushes with ligand tethered on titanium. (A) Schematic of FNIII7–10-tethered poly(OEGMA) brush system on titanium. Both linear RGD peptide and a fibronectin fragment FNIII7–10 (purple) containing both the RGD (red) and PHSRN (yellow) sequence in the native ECM structural conformation were tethered to poly(OEGMA) brushes via NPC chemistry. Unactivated hydroxyl groups provided the non-fouling nature of the brushes. (B) Tethering scheme of integrin ligands to “activated” poly(OEGMA) brushes on titanium. (Reprinted from Biomaterials, vol. 29, T. A. Petrie, J. E. Raynor, C. D. Reyes, K. L. Burns, D. M. Collard, A. J. García, The effect of integrin-specific bioactive coatings on tissue healing and implant osseointegration, 2849-57, Copyright 2008, with permission from Elsevier.).
mature cell types such as haemopoietic cells, cardiac muscle cells, endothelial cells and neurons. Isolated hES cells have also been shown to contribute to all three germ layers. The ability of these cells to differentiate
The nature of the ECM is also known to regulate ES cell behavior. For example, mES cells cultured on type I and type IV collagen or poly-D-lysine retained an undifferentiated state but when cultured on laminin or FN displayed altered morphology and downregulated signal transducer and activator of transcription 3, which maintains ES cell self-renewal. Inhibition of integrin-fibronectin binding prevented the observed differentiation response and in serum-replacement media the mES cells expressed integrin subtypes specific for laminin and fibronectin, but not for collagen. It is therefore apparent that the integrin subtype specific for fibronectin, namely integrin α5β1, is likely to play a role in mES cell behavior upon adhesion to ECM. As for stromal and fibroblast cells (discussed above), mES cells showed clear morphological responses to clustered versus monomeric FN fragments. The mES colonies appeared disperse with a spread cell morphology on dimeric FIII9’10, unless subdued back to a tight morphology with increasing concentrations of leukaemia inhibitory factor (LIF) (Fig. 8). In the presence of LIF, mES cells adherent to the FIII9\'10-dimer also showed transient upregulation of Oct-4, the mesodermal transcription factor, Brachyury, and the ectodermal marker, Nestin. However, dual upregulation of Nanog maintained the mES cells in a pluripotent state, confirmed by alkaline phosphatase staining. Since the mES cells grow as dispersed colonies in a monolayer, FIII9\'10-dimer could have application as an alternative substrate on which to study ES cell differentiation in 2-D.
mES cells stained with Giemsa after culture in complete media for 3 days and adherent to 0.1% gelatin (A), or 100 μg/ml FIII9\'10-dimer on which there appear ‘tight’ (B) and ‘dispersed’ (C) mES cell colonies; magnification ×20. (Reprinted from Biochem. Biophys. Res. Commun., vol. 390, M. D. Singh, M. Kreiner, C. S. McKimmie, S. Holt, C. F. van der Walle, G. J. Graham, Dimeric integrin α5β1 ligands confer morphological and differentiation responses to murine embryonic stem cells, 716–721, Copyright 2009, with permission from Elsevier.)
However, cellular responses to ECM signals are context-dependent: ECM signals presented in 3-D differ from those presented in 2-D. For example, focal adhesion formation during cell-ECM adhesion is mechanistically different in naturally derived hydrogels when compared to protein-coated tissue culture polystyrene substrates. These context dependent changes are due to cell-substrate mechanics, involving local forces generated by the cell during spreading and primary (tissue) cell sensing of the synthetic substrate stiffness, or local variations of ECM elasticity
This will involve developing hydrogels containing a bioinert polymer that is furnished with spatially defined ECM-derived ligands, while avoiding non-specific interactions with other molecules. A defined synthetic biomaterial is preferred over ‘naturally based’ hydrogels such as Matrigel and collagens which are biochemically complex (to tune), variable and ill-defined, and therefore make interpretation of cellular responses more complex. Hydrogels are particularly promising because they do not only have a high water content to promote cell viability, but they are structurally and mechanically similar to the native ECM of many tissues. The polymers forming the hydrogel structure must be bioinert, rather than having inherent cell adhesive activity such as gels of fibrin or hyaluronan, in order to test the capacity of the gels to support a specific cell function. Bioinert polymers such as alginate or poly(ethylene glycol) must therefore be covalently cross-linked with ECM-derived ligands to physically resist cell traction forces and prevent ligand leaching.
The role of integrins in determining self-renewal versus differentiation has been investigated using mES cells embedded in hydrogels functionalised with three peptides selective for integrins α5β1, αvβ5, α6β1 and α9β1. Broadly, maintenance of mES cell self-renewal and pluripotency, with down-regulation of differentiation-related genes, required multiple integrin subtype binding. It has also been shown that hES cells adherent to Matrigel predominantly expressed integrin α6, αvβ3, α2β1 and (particularly) β1. These synthetic gels were functionalised with three peptides engaging integrins αvβ3, α5β1 and α6β1. As for mES cells, maintenance of self-renewal required multiple integrin engagement, with hydrogels functionalised with one peptide supporting only hES cell adhesion and pluripotency. Integrin-mediated adhesion has also been shown to regulate the assembly of single-cell suspensions of hES cells into pluripotent hES cell colonies in the absence of feeder cells or added cytokines.
A degree of control over cellular processes is desired for regenerative medicine and to this end, FN fragments (FIII9’10) designed to specifically target integrin α5β1 were investigated in the context of osteogenic differentiation. When FIII9’10 was coated onto surfaces, human mesenchymal stem cells displayed increased adhesion, proliferation and spreading compared to the (conformationally less stable) wild type FIII9-10. Interestingly, selective inhibition of α5β1 was shown to reduce proliferation of cells on FIII9’10 and FIII9-10 but not on FN or FIII10, suggesting a degree of specificity. Furthermore, stronger osteoinduction potential was exhibited by the FN fragments containing FIII9 compared with full length FN and domain FIII10. The lower osteoinductive effects shown on FIII10 would be expected because it does not include the PHSRN synergy site which is required for full α5β1 integrin binding. FIII9’10 appears to better mimic full length FN with the addition of improved osteoinductive effects mediated through the α5β1 integrin, and this may prove useful for the further development controlled cell systems.
It is highly desirable to control ES cell proliferation and differentiation on 2-D and 3-D substrates in order to generate clinically useful tissues for regenerative medicine. To achieve this it will be necessary to recapitulate the ES cell niche
Since the seminal study of Sheldon in 1923, the term “corporate social responsibility” (CSR) has received phenomenal interest from different scholars as a behavioral financial tool to align business interests with society’s interests [1]. CSR can be viewed as an ecosystem that aims to enhance the welfare of a society by conducting ethical business practices. According to World Business Council for Sustainable Development (WBCSD), “CSR is the continuing commitment by businesses to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large” [2]. CSR is neither a charity nor a one-stop process. It is dynamic, welfare-oriented, and largely context-specific. It is enunciated under the ambit of formal and informal institutions to fulfill social obligations and ensure legitimacy in doing business. As countries worldwide tend to differ regarding economic status, regulatory forbearance, and social sanctions, so does the paradigm of CSR. Thus, CSR remains an iconic area for research to accumulate knowledge.
For empirical works, scholars tend to identify ceteris paribus CSR’s determinants and impacts from different perspectives, such as governance, management strategies, industrial nature, and regulatory and financial developments [3, 4, 5]. CSR activities in developing economies also vary from developed economies. While firms in developed economies tend to allocate a significant portion of CSR budgets to gender equality, work culture, ethical business practices, and reputation, developing economies are likely to view CSR as a philanthropic activity and rarely consider such social components of CSR in the policy [6]. Scholars also tend to offer confounding empirical results concerning the economic benefit of CSR activities across countries. For example, some studies reveal a positive and significant association between CSR disclosure and firm performance [7, 8, 9], whereas others accentuate the negative relationship between them [10, 11]. In addition, some studies highlight the positive link between CSR and governance elements, whereas others do not confirm it [12, 13, 14]. More importantly, Nobel laureate Paul Samuelson strongly advocates CSR activities as a testament to noneconomic success [15]. By contrast, another Nobel laureate Friedman raises a strong voice against using corporations’ money for general social interest [16]. Thus, the importance of CSR on firm values and factors promoting CSR activities remains a highly debatable issue in academic literature.
Given the above, we study CSR activities by banks in an emerging economy, such as Bangladesh, and examine whether the board elements influence the CSR activities of the banking industry to add knowledge. We consider the banking industry because this sector plays a critical role in supplying finance and promoting economic growth in developing economies, such as Bangladesh. Moreover, the banking sector deserves special attention in CSR study because the long-term success of a bank depends on both transactional and relational capital that CSR activities can increase. Also, banks can influence other businesses to practice socially responsible behaviors by incorporating CSR tools in their lending models [17].
We consider Bangladesh as a case to study CSR activities for two reasons. First, Bangladesh has been one of the leading economies in South Asia in terms of GDP growth rates in the last decade (6% plus on average). While economic development is evident in Bangladesh, the country is subject to global warming. For example, despite producing only 0.56% of the global emissions, Bangladesh is considered one of the most environmentally vulnerable countries globally [18]. It is said that by 1950, nearly 18 million people will be displaced in Bangladesh because of the increase in sea level alone [19]. Furthermore, the climate change caused by global warming will create detrimental effects on health, energy, productivity, water supply, agriculture, forestry, and the ecosystem of the country. Recognizing such severe consequences of global warming, the government of Bangladesh considered CSR as an economic policy tool in 2008 to ensure corporate accountability on the one hand and build a sound ecosystem on the other. However, empirical research on CSR activities in Bangladesh is found to be scant thus far and mostly confined to CSR disclosures in the annual reports [5, 20, 21, 22, 23, 24, 25]. Therefore, updated knowledge of CSR activities in Bangladesh is crucial to policy reforms. We fill this void.
Second, Bangladesh does not have a vivid capital market that can supply necessary funds to the entrepreneurial firms, implying that the lion’s share of the funds is intermediated through commercial banks. Thus, commercial banks expect to play an essential role in increasing the qualitative development of Bangladesh beyond increasing the financial depth as they can deploy creditors’ rights in monitoring the firm. In this pretext, the central bank of Bangladesh (Bangladesh Bank) issued the first guideline on CSR for the banks and nonbank financial institutions in 2008 to make them part of the ecosystem by giving tax rebates on CSR spending. Of late (January 10, 2022), Bangladesh Bank issued another circular on CSR, highlighting more spending on healthcare and environmental issues to ensure the use of the funds for sustainable development. In the meantime, some studies were undertaken to understand the CSR activities of the banking system of Bangladesh, but they were mainly limited to CSR disclosures and financial performance [5, 20, 21, 22, 23, 24, 25]. Thus, little has been known so far on the governance and CSR nexus in the banking industry of Bangladesh.
Given the above, we seek to answer whether the board structure mater in CSR spending of the commercial banks in Bangladesh. As a supreme authority, the corporate board is responsible for and oversees management and governance activities, is entrusted with protecting shareholders’ interests, and ratifies actions supportive of the economic and social values of the firm. The stakeholder theory suggests that the extent to which a firm can enhance stakeholders’ welfare depends on the demographic and cognitive profiles of the board member [26, 27]. This, in turn, directs a firm to allocate resources to facilitate social welfare. That being said, the board composition is likely to deter or promote the CSR activities of a corporation. This is particularly true in countries, such as Bangladesh, where the banking system primarily caters to the country’s financial needs. However, to our knowledge, few studies have checked the board structure and CSR nexus in the context of Bangladesh. Therefore, we empirically address this issue by hand-collecting data from the annual reports of 30 private commercial banks listed on the Dhaka Stock Exchange (DSE) in Bangladesh to update knowledge. Simultaneously, we review the CSR guidelines of the Bangladesh bank and unfold patterns of CSR spending to contribute to the policy-making.
We find that board elements, such as independent directors and board size have a significant and positive relationship with CSR expenditures, suggesting that banks with larger boards and boards with more independent directors tend to spend more money on CSR activities. This finding supports the stakeholder theory and aligns with the findings of previous studies [13, 26, 28]. By contrast, we reveal that female directors tend to deter CSR spending by banks, indicating that they are either free riders or not interested in the CSR activities of the banks. Regarding control variables, we reveal that factors, such as firm size and leverage, positively influence the CSR spending of commercial banks, while firms’ profitably has no such connection. As regards the pattern of CSR spending by banks, we find that although the absolute amount of CSR spending by banks has increased substantially over the years, they are limited to certain sectors, such as health, education, humanitarian, and disaster sectors, with a heterogeneous trend.
The rest of the chapter is organized as follows: Section 2 provides an overview of CSR guidelines for the banking system of Bangladesh, while Section 3 discusses the sector-wise distribution of CSR spending by Banks. Section 4 reviews previous literature and formulates hypotheses. Section 5 discusses research methods. Section 6 provides regression results, and Section 7 concludes the chapter with some policy remarks.
As a controller of financial institutions, Bangladesh Bank issues CSR guidelines for all scheduled banks and nonbank financial institutions to ensure corporate accountability, ethical practice, and social justice. On June 01, 2008, Bangladesh Bank, for the first time, issued a circular on CSR reporting for all scheduled banks and nonbank financial institutions (NBFIS) to provide equitable and meaningful solutions to social and environmental issues. In this circular, Bangladesh bank asked commercial banks to include CSR at the corporate level (board of directors of the bank), select CSR action programs, fix performance targets in consultation with the internal and external stakeholders, and disclose CSR activities ad-hoc basis. The circular outlined four sections of CSR that include: (a) introduction, (b) source materials helpful in drawing up CSR programs and sustainability reports, (c) initiating CSR programs in banks and financial institutions, and (d) monitoring of CSR performance. Also, the circular was attached with “Annexure-A,” where 14 related references were given to report CSR performance. Then on June 02, 2009, Bangladesh Bank issued another circular with reference to the previous circular to help massive Cyclone Ayla affected people in Bangladesh. Then, on July 15, 2010, Bangladesh Bank enclosed a format for monitoring the CSR adoption and performance for banks and asked them to submit a statement on CSR activities following the prescribed format on a half-yearly basis within 30 days of each half-year period. These guidelines are viewed as a milestone for CSR activities for the banks in Bangladesh. It outlined some critical issues, such as financial inclusion, social projects, community investment, and the number of beneficiaries for CSR reporting, and made the CSR report mandatory for banks. After this circular, Bangladesh Bank issued another circular on December 20, 2010, asking banks to establish a separate CSR desk in banks for proper communication. Then, on February 10, 2011, Bangladesh Bank provided policy guidelines for practicing green banking. Following this circular, banks were required to report initiatives under the green banking program to Bangladesh Bank quarterly. Also, banks were asked to disclose green banking activities in their annual reports and update their websites as well. In the following circular on December 01, 2011, Bangladesh Bank focused on gender equality in the workplace and provided a format to report gender equality-related performance. The green banking initiative and gender equality in the workplace is a breakthrough in promoting CSR activities in Bangladesh.
Another significant regulatory development related to CSR activities took place in April 2013 when Bangladesh Bank established a Green Banking and CSR Department (GBCSRD) to ensure proper monitoring of the CSR activities by banks. On April 11, 2013, the GBCSRD issued a circular to submit reports on school banking on a half-yearly, green banking quarterly, and other CSR activities, such as gender equality and educational support activities quarterly. On December 22, 2014, the GBCSRD issued another circular titled “Indicative guidelines for CSR expenditure allocation and end-use oversight” to cover administrative setup, budgetary allocation process, expected range/coverage of allocations, and end-use monitoring of CSR expenditures in CSR reporting. In the expected range/coverage section, banks were asked to allocate at least 30% of total spending to the education sector, 20% to preventive and curative health care supports, and a significant amount of funds for meeting any urgency, such as environmental disasters. One of the remarkable progresses in this circular was that banks were responsible for monitoring the proper utilization of CSR funds and keeping all end-use monitoring records available for inspection by internal and external auditors and supervision officials from Bangladesh Bank.
Afterward, on June 10, 2015, the GBCSRD issued a new format for CSR reporting under the “statement on corporate social responsibility initiatives.” This format outlined three critical areas for CSR reporting: Corporate governance, policy issues, and CSR expenditures. The corporate governance section emphasized reporting the initiatives for institutionalizing the corporate governance framework to add value to the stakeholders, such as shareholders, customers, partners, and employees. Policy issues covered the transmission of information approved by the board regarding CSR, and the CSR expenditure section highlighted the areas of CSR spending, including (1) social projects, (2) community investment, and (3) priority sectors. Then, on June 23, 2015, GBCSRD advised banks to include “virtuousness and anticorruption publicity expense” as CSR activity and report it in the “others” section as per the previously enclosed format. Finally, on January 10, 2022, GBCSRD issued a new guideline for CSR spending focusing more on healthcare and environmental issues to uphold the country’s sustainable growth. As per this circular, banks and NBFIs were advised to allocate a minimum of 30% of total CSR expenditure for health care, another 30% for education, and a minimum of 20% for tackling the adverse impact of global warming and climate change and urban migration.
As a whole, it is observed that since the year 2008, Bangladesh Bank has taken substantial measures to enhance the CSR activities of the commercial banks. In the initial phase, CSR was recognized as a philanthropic activity for banks to report ad hoc. However, after a couple of years, CSR was included in the lending model of the banks, and it became a policy instrument for sustainable growth. Also, Bangladesh bank institutionalized CSR activities by setting up a new CSR department (GBCSRD) and widening CSR activities in areas, such as health, education, sanitary, gender equality, environmental disasters, and green banking. Simultaneously, Bangladesh Bank made CSR reporting mandatory for commercial banks and made them responsible for monitoring the end-use of CSR expenditures while keeping all those records for internal and external audits. In addition, Bangladesh Bank decided to publish the CSR activities of banks on a half-yearly basis to ensure transparency and accountability. All these initiatives indeed enhanced the CSR activities of the commercial banks, as illustrated in Section 3 of this chapter.
Table 1 presents the sector-wise distribution of direct CSR expenditures by banks over the period 2007–2020. Table 1 reveals that CSR spending by banks scaled up from Bangladesh Taka (BDT) 226.40 million in 2007 to BDT 5273.6 million in 2015, and then BDT 9675.5 million in 2020. Among different sectors, health, humanitarian and disaster sectors received primary importance in the initial phase of the CSR evolution in Bangladesh (2007–2010). However, at this phase, banks allocated maximum CSR funds to meet other purposes, such as buying books, scholarships for students, and boat races, as there was a lack of proper guidelines for reporting CSR spending. The education sector received considerable attention in receiving CSR in 2011, although the humanitarian and disaster relief sector dominated the CSR expenditures in the last couple of years. The education sector received BDT14.30 million (6.32%) in 2007, which increased to BDT 612.48 million (28%) in 2011, then nearly BDT3800 million (38%) in 2018. However, in 2020, the education sector captured 10.8% of the CSR spending by banks because the COVID-19 hurt the education sector severely. By contrast, the humanitarian and disaster relief sector captured 42% of the CSR expenditures in 2020 from 8.51% in 2011. The health sector appeared to be the third most crucial sector in capturing CSR expenditures in recent times, receiving 18.1% of CSR expenditures in 2020. The environment sector has been given priority since 2010. However, it bagged nearly 3.07% of the total allocated amount over the period (2010–2020), implying that bank officials were less concerned about the adverse effects of global warming. Notably, the two new sectors, infrastructure improvement and income-generating activities, were included in 2015 as a part of CSR spending, leaving sports as a minor priority sector. In addition, the arts and cultural sector received 9.23% in 2020, while the same was 4.16% in 2016 and 14.12% in 2010.
Sectors | Year | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | |
Education (%) | 14.30 (6.32) | 30.50 (7.43) | 94.80 (17.1) | 400.79 (17.2) | 612.48 (28.0) | 983.69 (32.3) | 1295.2 (28.9) | 1508.0 (29.5) | 1583.6 (30.0) | 1488.6 (30.0) | 2028.3 (27.3) | 3800.3 (42.0) | 1766.3 (27.3) | 1043.2 (10.8) |
Health (%) | 68.60 (30.3) | 112.10 (27.3) | 245.50 (44.3) | 689.07 (29.6) | 520.42 (23.8) | 435.43 (14.3) | 481.68 (10.8) | 1383.7 (27.1) | 1111.4 (21.1) | 381.80 (7.69) | 587.01 (7.89) | 516.80 (5.71) | 733.30 (11.3) | 1748.0 (18.1) |
Humanitarian and disaster relief (%) | 127.70 (56.4) | 58.60 (14.3) | 125.10 (22.6) | 460.40 (19.8) | 188.03 (8.59) | 788.37 (25.9) | 1385.8 (31.0) | 949.47 (18.6) | 1446.2 (27.4) | 1883.1 (37.9) | 3293.3 (44.3) | 3308.4 (36.6) | 2427.9 (37.5) | 4061.3 (42.0) |
Sports (%) | 2.70 (1.19) | 49.80 (12.1) | 1.20 (0.20) | 265.23 (11.4) | 359.07 (16.4) | 183.85 (6.03) | 384.02 (8.59) | 207.37 (4.06) | — | — | — | — | — | — |
Arts and culture (%) | — | 0.80 (0.19) | 0.30 (0.05) | 328.91 (14.1) | 171.52 (7.84) | 213.31 (7.01) | 124.75 (2.79) | 407.11 (7.97) | 414.00 (7.85) | 206.50 (4.16) | 358.90 (4.82) | 450.00 (4.97) | 280.00 (4.32) | 893.00 (9.23) |
Environment (%) | — | — | — | 59.78 (2.57) | 138.07 (6.31) | 140.23 (4.60) | 106.59 (2.38) | 164.55 (3.22) | 150.40 (2.85) | 144.11 (2.90) | 84.30 (1.13) | 27.90 (0.31) | 330.70 (5.10) | 239.10 (2.47) |
Infrastructure improvement (%) | — | — | — | — | — | — | — | — | 40.30 (0.76) | 15.10 (0.30) | 13.60 (0.18) | 15.50 (0.17) | 13.70 (0.21) | 88.80 (0.92) |
Income generating activities (%) | — | — | — | — | — | — | — | — | 79.20 (1.52) | 261.50 (5.26) | 3.60 (0.05) | 9.50 (0.11) | 1.20 (0.02) | 0.50 (0.01) |
Others (%) | 13.10 (5.79) | 158.90 (38.7) | 86.90 (15.7) | 125.58 (5.39) | 198.73 (9.08) | 301.81 (9.91) | 693.41 (15.5) | 485.24 (9.50) | 448.50 (8.50) | 616.80 (12.4) | 1070.9 (14.4) | 917.9 (10.2) | 925.60 (14.3) | 1601.6 (16.6) |
Sectoral distribution of direct CSR expenditure by banks (2007–2020).
Note: CSR reports of the Bangladesh Bank, different issues (2007–2020).
On the whole, we find that Bangladesh has a much narrower understanding of CSR activities because the allocated amount to CSR activities is still meager, although it has increased over the years with some exceptions. Also, CSR spending by banks on different sectors tends to follow a zigzag trend and is mainly limited to health, education, and contribution to natural disasters and humanitarian activities. These are partly due to regulators’ frequent changes in CSR policies and reporting formats. It is worth noting that until the year 2014, Bangladesh Bank compiled the CSR expenditure by banks under seven different sectors, including (1) education, (2) heath, (3) humanitarian and disaster relief, (4) sports, (5) arts and culture (6) environment, and (7) others. However, in 2015, Bangladesh Bank included two other sectors, such as infrastructure improvement and income-generating activities, and made some changes to the items in the previously prescribed sectors for reporting CSR activities. For example, the sports and arts and culture sectors were advised to register under the cultural welfare sector. In addition, Bangladesh Bank guided banks to allocate CSR funds to impoverished areas, such as virtuousness and anticorruption publicity, and advised banks to report them in the others section. The changes in CSR policies resulted in banks’ uneven allocation of CSR budgets to different sectors. Apart from this, some sectors, such as education, health, environment, and disaster relief, have been the priority sectors for the CSR spending by banks in Bangladesh.
Unlike developed economies, developing countries often face some structural problems, such as poverty, deadly diseases, corruption, water and air pollution, and natural hazards, besides the well-known institutional and market lagging issues, such as regulatory forbearance, weak governance, and absence of market players for corporate control [29, 30]. In such markets, both the stakeholder theory and legitimacy theory can be put into place to discuss the board structure and CSR nexus. The stakeholder theory presumes that board members’ personal and social background is critical to building a long-term sustainable relationship with the stakeholders [31]. In other words, stakeholder theory emphasizes ethical behavior, mutual interest, sustainability, and long-term relationship, which influence corporates to engage in CSR activities [32]. This implies that firms with a more diverse board tend to be more socially accountable than firms with relatively a weak board structure.
Likewise, legitimacy theory focuses on cultivating a long-term relationship with society to show the reasons for doing business in society and legitimate business activities by societal and regulatory forces. Legitimacy is a process to increase the trust of the external people. It includes stakeholder theory at the center point and focuses on the business’s long-term success at the gravity level by building reputational capital. Such practice motivates firms to undertake more CSR activities to legitimate their existence for a social cause beyond economic profits [33]. For that matter, it is the responsibility of the board to undertake activities that would enhance the financial performance of the business on the one hand and legitimize business operations on the other hand by gaining social trust. Therefore, both the stakeholder theory and legitimacy theory emphasize nurturing relationships with the stakeholders, although the former focuses more on building relationships with the powerful stakeholders while the latter discusses the importance of society as a whole to ensure long-term success [34]. Thus, we anchor on the stakeholder and legitimacy theories to explain the link between board structure and CSR spending by banks in Bangladesh.
The surrogates of board structure are board size, board independence, gender diversity on the board, and the number of board meetings. Board size is critical to promoting and monitoring CSR activities among these board elements because larger boards tend to have more voices on corporate CSR activities, such as investment in health, education, and the environment [5, 13]. However, extant literature provides mixed results on the relationship between board size and CSR performance. For example, some studies revealed a positive relationship between board size and CSR performance [28, 35, 36], while some noted an insignificant relationship between them [37, 38]. This difference in empirical results is attributed to the country-specific factors, such as corruption, business cultures, and enforcement status, of laws and regulations, suggesting more studies to accumulate knowledge.
Likewise, independent directors are instrumental in checking the social obligations of a firm because they are nonexecutive directors without having any pecuniary relationship with the firm. Also, independent directors want to protect their reputation by serving as a watchdog on the board and directing management to choose value-enhancing activities. Thus, independent directors have the power to refrain managers from building their empires through better monitoring [39]. However, similar to board size, extant studies show confounding results between board independence and CSR performance. Some studies highlighted a significant positive association between board independence and CSR performance [11, 12, 13]. On the other hand, some scholars noted a negative relationship [35, 40], while others did not find any significant connection between them. This mixed results in the relationship between board independence and CSR spending lie in the fact that independent directors may not function accurately in developing countries due to pressures from owner directors and fear of losing their job [41].
Another vital board element is the board gender diversity. Scholars argue that female representation on the board facilitates more discussion on CSR issues because women are likely to have more sensitive to ethical behavior, corporate philanthropy, and environmental pollution [42, 43]. Also, women directors tend to raise diverse issues related to women empowerment, thereby promoting gender equality in the workplace. Furthermore, women can address the concerns of various stakeholders more effectively, thereby increasing customers’ loyalty and leading to financial profits. However, akin to board size and board independence, empirical works unearth inconclusive results between board gender diversity and CSR performance. Some scholars revealed a significant positive connection between female directors on board and CSR performance [44, 45, 46]. Conversely, some documented a significant negative link between them [12, 47], while others found no meaningful connection [37, 48].
Finally, board meetings can impact the CSR activities of the firm because frequent board meetings create enough room for evaluating CSR activities and help to take corrective measures to improve CSR performance. However, empirical studies concerning the link between CSR and the frequency of board meetings are scant. Most scholars found no significant association between them [35]. We argue that in developing economies, such as Bangladesh, which has improper checks and balancing systems, frequent board meetings can help monitor the guile behavior of the management, resulting in the higher allocation of funds to CSR activities and more disclosure of nonfinancial information about the social and environmental practices by firms.
The above discussion clarifies that the connection between board structure and CSR spending is not univocal. The empirical results are confounding and often driven by a country’s economic structure, cultural understanding, institutional developments, and national commitments. Nevertheless, as Bangladesh has shown remarkable progress in allocating funds to CSR activities over the last couple of years, we surmise that board elements will be positively associated with CSR spending by banks. Accordingly, we develop the following hypothesis to examine the nexus of board structure and CSR performance.
Our sample consists of all the commercial banks, 30 in this case, listed on Dhaka Stock Exchange (DSE). We hand-collected necessary information on CSR spending by banks through the CSR reports published by Bangladesh Bank covering the period 2007–2020. Simultaneously, we checked the annual reports of sampled banks to check for any inconsistencies in CSR disclosures. For firm-specific data, we studied the annual reports of selected banks and obtained the required information.
We used four board elements: Board size, board independence, board gender, and frequency of board meetings as our main variables of interest. Board size was measured by the total number of directors on the board. Board independence represented the number of independent directors relative to the board size. Board gender was indexed by the percentage of female members on the board. Finally, the frequency of board meetings was measured by the number of meetings held annually. Also, we adopted some control variables, such as firm size, leverage, profitability, and firm age, following previous literature to get robust estimates [26, 49, 50]. We proxy for firm size with the total assets (
Variable | Acronym | Predicted sign | Measure |
---|---|---|---|
Board size | BDSIZE | + | Number of total directors on the board. We use the natural logarithm of the number of directors |
Board independence | BDIND | + | Number of independent directors relative to the total number of directors on the board |
Board gender | BDGEND | + | Number of female directors relative to the total number of directors on the board |
Board meeting | BDMEET | + | Number of total board meetings in a year. We take the natural logarithm of the number of board meetings |
Firm size | TA | + | Firm size is measured by the total assets of the company. We use the natural logarithm of the total assets |
Profitability | ROA | + | Profitability is measured by the return on assets (ROA) which is the ratio of net profit after tax to total assets |
Leverage | LEV | + | Leverage is measured as the ratio of total liabilities to total assets |
Age | AGE | +/− | Age is the number of years from the listing year. We take the natural logarithm of the number of years |
Definition of variables.
We used the following regression model to examine the relationship between board structure and CSR spending by banks.
where CSREXP is the corporate social responsibility (CSR) expenditure, BDSIZE is the size of the board, BDIND is the board independence, BDGEND is the board gender, BDMEET is the number of total board meetings, TA is the total assets, ROA is the return on assets, Lev is the gearing based on debt-to-equity ratio. εit is the disturbance term, and β1… β8 are the coefficients of the variables.
Table 3 portrays descriptive statistics of the variables. As shown in Table 3, the mean value of CSR expenditure is BDT 96.397 million with a minimum of zero and a maximum of BDT1813.6 million, indicating a significant difference between banks regarding CSR spending. As for board elements, not many banks have the majority of independent directors on the board (13.77% on an average) and board gender as well (10.50% on an average). The mean value of board size is 13.98, with a maximum of 28 directors and a minimum of five directors, indicating a large gap in board size between banks. Likewise, the average number of board meetings is 19.929, ranging between 4 and 62, indicating sharp differences between banks holding board meetings. Concerning the control variables, the banks’ mean return on assets (ROA) is 1.3%, with a minimum of −13.51%. Similarly, the mean value of total assets (TA) is BDT 268,174 million, with a minimum of BDT 11,240 million. The average leverage of the bank (LEV) is 92.90% because the banking sector is highly leveraged by operation. The average age of the banks varies between 0 and 37 years. As a whole, the descriptive statistics of the variables used in the study show larger fluctuations in terms of average performance and standard deviations.
Variables | Mean | Std. dev. | Min. | Max. |
---|---|---|---|---|
CSREXP (in million BDT) | 96.397 | 188.245 | 0 | 1813.6 |
BDSIZE | 13.98 | 4.038 | 5 | 28 |
BDIND | 0.137 | 0.105 | 0 | 0.429 |
BDGEND | 0.105 | 0.109 | 0 | 0.444 |
BDMEET | 19.929 | 8.492 | 4 | 62 |
TA (in million BDT) | 268,174 | 251,307 | 11,240 | 1,417,622 |
ROA | 0.013 | 0.015 | −0.1351 | 0.100 |
LEV | 0.929 | 0.133 | 0.010 | 1.766 |
AGE (in years) | 16.53 | 9.677 | 0 | 37 |
Number of observation | 420 | 420 | 420 | 420 |
Descriptive statistics.
Table 4 presents the correlation coefficient matrix in the variables under study. As shown in Table 4, CSR spending (CSREXP) is positively associated with the size of the firm (TA), with a correlation coefficient of 0.705 (p < 0.001) at a 1% significant level. Also, there is a positive relationship between CSR spending and leverage of the firm (LEV), with a correlation coefficient of 0.245 (p < 0.001) at a 1% significance level. Similar evidence is found between the age of the bank (AGE) and CSR spending, with a correlation coefficient of 0.172 (p < 0.001) at a 1% significant level. However, the correlation between CSR spending and return on assets (ROA) is insignificant. As regards board structure, CSR spending has a positive relationship with the board size (BDSIZE), board meetings (BDMEET), and board independence (BDIND) at the 1% significance level. However, there is no significant association between CSR spending and board gender (BDGEND), indicating that female members on the board do not influence CSR spending by banks. Finally, we did not see any multicollinearity problem in the factors to run the regression.
Variable | CSREXP | TA | LEV | ROA | AGE | BDSIZE | BDMEET | BDIND | BDGEND |
---|---|---|---|---|---|---|---|---|---|
CSREXP | 1 | ||||||||
TA | 0.705*** | 1 | |||||||
LEV | 0.245*** | −0.405*** | 1 | ||||||
ROA | 0.016 | −0.045 | −0.217*** | 1 | |||||
AGE | 0.172*** | 0.467*** | 0.024 | −0.092 | 1 | ||||
BDSIZE | 0.301*** | 0.250*** | −0.321*** | 0.180*** | 0.052 | 1 | |||
BDMEET | 0.228*** | 0.328*** | −0.325*** | 0.009 | 0.317*** | 0.252*** | 1 | ||
BDIND | 0.478*** | 0.552*** | 0.002 | −0.113** | 0.141** | −0.242*** | −0.001 | 1 | |
BDGEND | −0.039 | −0.007 | 0.093* | −0.036 | −0.251*** | −0.173** | −0.073 | 0.148*** | 1 |
Correlation matrix.
Level of significance at 10%.
Level of significance at 5%.
Level of significance at 1%.
Table 5 provides regression outputs. As shown in Table 5, board structure elements, such as board size (BDSIZE) and board independence (BDIND), are positively and significantly associated with CSR expenditure by banks at the 1% significance level. This result strongly supports our hypothesis. However, we find that female representation on the board is negatively associated with CSR spending by banks at the 5% significance level. This result refutes our predefined hypothesis. Also, we do not find any significant relationship between the number of board meetings and CSR spending by banks. This is contrary to the proposed hypothesis that outlines frequent board meetings tend to promote CSR spending by banks. Concerning control variables, we find that bank size (TA) promotes CSR spending by banks at the 1% significance level. Precisely, a 1% increase in banks’ total assets can enhance nearly 162% of CSR spending. Also, Table 5 reveals that leverage has a significant and positive connection with CSR spending. This is expected because the banking industry primarily lends funds by taking public deposits. By contrast, we find that age of the bank negates CSR spending by banks. Also, no significant relationship runs between banks’ profitability (ROA) and CSR spending, although the coefficient of the ROA has been highly positive. We leave these two issues for further investigation.
Variable | Predicted sign | Coefficient | t-value | p-value |
---|---|---|---|---|
BDSIZE | + | 1.062*** | 2.80 | 0.005 |
BDIND | + | 3.137*** | 2.63 | 0.009 |
BDGEND | + | −1.534** | −2.33 | 0.020 |
BDMEET | + | 0.270 | 0.85 | 0.397 |
TA | + | 1.620*** | 8.01 | 0.000 |
ROA | + | 4.923 | 0.80 | 0.424 |
LEV | + | 1.902*** | 3.07 | 0.002 |
AGE | +/− | −0.529*** | −3.74 | 0.000 |
Intercept | −19.976*** | −8.25 | 0.000 | |
Observation | 420 | |||
Adjusted R-square | 0.5844 | |||
F statistics (8, 411) | 83.51 |
Ordinary least square regression clustered by firm and years.
The superscripts *,** and *** indicate significance at the 10%, 5%, and 1% levels, respectively.
This study yields that board elements, such as board size (BDSIZE) and board independence, (BDIND) are significantly and positively associated with CSR expenditure by banks, implying that banks with large boards and boards with more independent directors tend to spend more money on CSR activities. This result strongly supports our hypothesis, which outlines that board size and independence would promote the CSR activities of the banks. Also, this result supports the stakeholder theory and legitimacy theory in that banks in developing economies focus on creating long-term relationships with different stakeholders to achieve lending supremacy on the one hand and obtain legitimacy on the other hand by catering to the needs of society. A large board tends to have more independent directors with diverse backgrounds and expertise, thereby increasing efficiency in monitoring managerial opportunism. Thus, independent directors can direct the firm’s management to spend money on CSR activities to enhance social capital. Arguably, the long-term success of the banking business depends not only on increasing transactional capital but also on improving the relational capital, suggesting that banks should undertake more CSR activities. This is particularly true for the banking sector in developing economies because this sector takes the prime responsibility for catering to the financial needs of the country. Our findings suggest that banks should hire more independent directors to enhance social and transactional capital to legitimate their activities by the societal forces. This finding supports the previous results [11, 12, 13, 35, 36]. However, it disapproves the earlier findings of Uddin and Choudhury [41] that agued independent directors may not function accurately in developing economies due to pressure from owner-directors and fear of losing their jobs. We note that, in Bangladesh, factors, such as corruption, poor governance, and family-led politics, provide strong incentives to firm managers to abuse financial resources. In such an environment, a larger board and a board with more independent directors can effectively monitor the guile behavior of the management, which in turn directs management to discharge more funds on social and environmental purposes to get public legitimacy.
An intriguing finding of the study is that female directors on the board negate CSR spending by banks, indicating the decrease of female representation in the top echelon positions to enhance CSR activities. This result contradicts the view that women are more sensitive to social and environmental issues so that they would raise their voices on the quantity, quality, and transparency of CSR disclosure. Also, this result is contrary to the earlier findings that claim female executives can enhance CSR expenditures [43, 44]. In this pretext, we note that female representation on the board is minimal in Bangladesh; hence, they are likely to be the free-rider to protect their jobs. This is because Bangladesh bank encourages female entrepreneurship with the support of its development partner, the Japan International Cooperation Agency (JICA), and Asian Development Banks (ADB) by creating a refinancing scheme and allocating 15% of the fund to female entrepreneurs. Simultaneously, many NGOs are working on improving the health and education of female entrepreneurs, besides the humanitarian activities. As a result, the participation of female executives in CSR activities is likely to be increased in Bangladesh. Thus, the negative connection between board gender and CSR spending by banks should not be generalized to other economies, and it warrants further investigation. Another outcome of this study is no significant relationship between the number of board meetings and CSR spending by banks. This is plausible for banks in developing economies where board members are likely to discuss critical business issues other than CSR activities whenever they sit for additional board meetings. However, this issue remains a point of debate.
For control variables, we find that bank size (TA) is significantly related to CSR spending by banks. This result is logical because larger banks can allocate more funds to CSR activities than smaller, financially weak banks. This finding approves the previous results of Muttakin and Subramaniam and Hu et al. [12, 49]. Also, the positive link between leverage and CSR spending is quite plausible because the banking industry is a highly leveraged sector where success depends on relational capital and reputation, which eventually influences CSR spending by banks. Also, Bangladesh Bank firmly guides the banking system of Bangladesh for allocating CSR expenditures and disclosure of CSR information in a timely fashion to perform social obligations of banks and legitimate banking activities by the society, resulting in a positive association between CSR spending and leverage. However, this result contradicts the earlier findings [51] that note a negative relationship between CSR and leverage. Finally, we find that bank profitability is not an essential factor for CSR spending by banks in Bangladesh. This may happen because CSR spending by banks is no longer voluntary in Bangladesh. Instead, it is a direct expenditure guided by Bangladesh bank. This issue warrants further investigation. Also, we find that the age of the bank is inversely related to the promotion of CSR activities. This result supports the earlier findings [51]. However, it disapproves of the view that banks with longer years in operation tend to accumulate financial resources and experience necessary to allocate funds for CSR activities. Hence, this remains another issue for further research.
This chapter investigated the relationship between board structure and CSR spending by commercial banks listed on DSE in Bangladesh, covering the period 2007–2020. Also, we reviewed CSR policies for the banks and explored the pattern of CSR expenditures by banks over the same period (2007–2020). Finally, we applied the ordinary least square regression model by clustering banks and years and utilized some firm-specific variables as controls to obtain efficient estimates.
Our empirical results confirm that board elements, such as board size and independence are significantly and positively associated with CSR spending by banks. By contrast, female director tends to inhibit CSR spending by banks, and the frequency of board meetings has no connection with the same. Furthermore, for firm-specific factors, we confirm that bank size and leverage positively and significantly influence the CSR spending of commercial banks in Bangladesh, suggesting that larger banks are incremental to promoting CSR spending. In addition, we note that CSR spending by banks has significantly increased over the study period (2007–2020). However, the sectoral distribution of CSR funds has been somewhat heterogeneous in areas, such as environmental pollution, education, health, gender equality, and other humanitarian activities. Simultaneously, Bangladesh Bank has taken significant measures to improve banks’ CSR spending and ensure control thereon. One of such measures is to publish CSR activities on a half-yearly basis to ensure the proper use of CSR funds. Additionally, Bangladesh bank has prescribed priority areas for CSR activities for banks in recent times to enhance both stakeholders’ welfare and economic growth.
This study unearths the link between board elements and CSR spending by banks in the context of an emerging economy. The banking industry deals with multifaceted stakeholders compared to conventional manufacturing and trading firms. Also, banks play a critical role in enhancing the economic growth rates by effectively intermediating funds to various sectors, some of which are environmentally sensitive. Thus, this study falls under the ambit of corporate governance, stakeholder and legitimacy theories. Our results suggest that board elements, such as board size and independence, are essential factors for promoting CSR spending by banks. By contrast, the presence of women on the board negates the same, and board meeting frequency has no such connection. This result is critical for the literature on bank governance. At the same time, it expects to raise interest in studying CSR performance by diverse stakeholders because CSR spending can enhance a bank’s relational and reputational capitals, which are needed to ensure long-term sustainable success. Also, our results can help banks restructure board elements to reap the benefits of CSR spending, which is one of the powerful financial instruments for obtaining legitimacy by societal forces.
Our findings have several policy implications. First, we reveal that board elements, such as board size and independence, are instrumental to CSR spending, suggesting that policymakers should pay more attention to these factors to improve board members’ attitudes toward CSR spending. Second, policymakers should evaluate the role of female directors on the board as they are likely to deter CSR spending by banks. Third, bank size is critical to CSR spending, suggesting that policymakers should direct large banks to incorporate CSR in their lending portfolios. Finally, Bangladesh Bank should formulate clear-cut strategies for the scheduled banks to ensure the allocation of CSR funds to the priority sectors and invigorate ethical and social justice. Apart from this, policymakers should not overlook the quality, quantity, and level of CSR disclosures.
This study is not free of limitations. Due to data limitations, we studied the CSR spending for the domestic private commercial banks, although there are foreign and state-owned commercial banks. Also, we did not examine the role of ownership and audit elements in motivating CSR spending by banks, which may have critical implications for CSR spending. An analysis by decomposing the banks into different age groups may provide further insight in this respect. In addition, our results may not remain consistent if estimation issues, such as reverse causality and endogeneity, are considered. We leave all those issues as avenues for future research.
We greatly appreciate anonymous reviewers and editors for their comments.
The authors declare no conflict of interest.
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\\n\\nNothing in this Publication Agreement shall have the effect of excluding or limiting any liability for death or personal injury caused by negligence or any other liability that cannot be excluded or limited by applicable law.
\\n\\nTERMINATION
\\n\\nIntechOpen has the right to terminate this Publication Agreement for quality, program, technical or other reasons with immediate effect, including without limitation (i) if the Author and/or any Co-Author commits a material breach of this Publication Agreement; (ii) if the Author and/or any Co-Author (being a private individual) is the subject of a bankruptcy petition, application or order; or (iii) if the Author and/or any Co-Author (as a corporate entity) commences negotiations with all or any class of its creditors with a view to rescheduling any of its debts, or makes a proposal for, or enters into, any compromise or arrangement with any of its creditors.
\\n\\nIn the event of termination, IntechOpen will notify the Author of the decision in writing.
\\n\\nIntechOpen’s DUTIES AND RIGHTS
\\n\\nUnless prevented from doing so by events beyond its reasonable control, IntechOpen, at its discretion, agrees to publish the Work attributing it to the Author and Co-Authors.
\\n\\nUnless prevented from doing so by events beyond its reasonable control, IntechOpen agrees to provide publishing services which include: managing editing (editorial and publishing process coordination, Author assistance); publishing software technology; language copyediting; typesetting; online publishing; hosting and web management; and abstracting and indexing services.
\\n\\nIntechOpen agrees to offer free online access to readers and use reasonable efforts to promote the Publication to relevant audiences.
\\n\\nIntechOpen is granted the authority to enforce the rights from this Publication Agreement on behalf of the Author and Co-Authors against third parties, for example in cases of plagiarism or copyright infringements. In respect of any such infringement or suspected infringement of the copyright in the Work, IntechOpen shall have absolute discretion in addressing any such infringement that is likely to affect IntechOpen's rights under this Publication Agreement, including issuing and conducting proceedings against the suspected infringer.
\\n\\nIntechOpen has the right to include/use the Author and Co-Authors names and likeness in connection with scientific dissemination, retrieval, archiving, web hosting and promotion and marketing of the Work and has the right to contact the Author and Co-Authors until the Work is publicly available on any platform owned and/or operated by IntechOpen.
\\n\\nMISCELLANEOUS
\\n\\nFurther Assurance: The Author shall ensure that any relevant third party, including any Co-Author, shall execute and deliver whatever further documents or deeds and perform such acts as IntechOpen reasonably requires from time to time for the purpose of giving IntechOpen the full benefit of the provisions of this Publication Agreement.
\\n\\nThird Party Rights: A person who is not a party to this Publication Agreement may not enforce any of its provisions under the Contracts (Rights of Third Parties) Act 1999.
\\n\\nEntire Agreement: This Publication Agreement constitutes the entire agreement between the parties in relation to its subject matter. It replaces all prior agreements, draft agreements, arrangements, collateral warranties, collateral contracts, statements, assurances, representations and undertakings of any nature made by, or on behalf of, the parties, whether oral or written, in relation to that subject matter. Each party acknowledges that in entering into this Publication Agreement it has not relied upon any oral or written statements, collateral or other warranties, assurances, representations or undertakings which were made by or on behalf of the other party in relation to the subject matter of this Publication Agreement at any time before its signature (known as the "Pre-Contractual Statements"), other than those which are set out in this Publication Agreement. Each party hereby waives all rights and remedies which might otherwise be available to it in relation to such Pre-Contractual Statements. Nothing in this clause shall exclude or restrict the liability of either party arising out of any fraudulent pre-contract misrepresentation or concealment.
\\n\\nWaiver: No failure or delay by a party to exercise any right or remedy provided under this Publication Agreement or by law shall constitute a waiver of that or any other right or remedy, nor shall it preclude or restrict the further exercise of that or any other right or remedy. No single or partial exercise of such right or remedy shall preclude or restrict the further exercise of that or any other right or remedy.
\\n\\nVariation: No variation of this Publication Agreement shall have effect unless it is in writing and signed by the parties, or their duly authorized representatives.
\\n\\nSeverance: If any provision, or part-provision, of this Publication Agreement is, or becomes invalid, illegal or unenforceable, it shall be deemed modified to the minimum extent necessary to make it valid, legal and enforceable. If such modification is not possible, the relevant provision or part-provision shall be deemed deleted. Any modification to, or deletion of, a provision or part-provision under this clause shall not affect the validity and enforceability of the rest of this Publication Agreement.
\\n\\nNo partnership: Nothing in this Publication Agreement is intended to, or shall be deemed to, establish or create any partnership or joint venture or the relationship of principal and agent or employer and employee between IntechOpen and the Author or any Co-Author, nor authorize any party to make or enter into any commitments for, or on behalf of, any other party.
\\n\\nGoverning law: This Publication Agreement and any dispute or claim, including non-contractual disputes or claims arising out of, or in connection with it, or its subject matter or formation, shall be governed by and construed in accordance with the law of England and Wales. The parties submit to the exclusive jurisdiction of the English courts to settle any dispute or claim arising out of, or in connection with, this Publication Agreement, including any non-contractual disputes or claims.
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\n\nCORRESPONDING AUTHOR'S GRANT OF RIGHTS
\n\nSubject to the following Article, the Author grants to IntechOpen, during the full term of copyright, and any extensions or renewals of that term, the following:
\n\nThe foregoing licenses shall survive the expiry or termination of this Publication Agreement for any reason.
\n\nThe Author, on his or her own behalf and on behalf of any of the Co-Authors, reserves the following rights in the Work but agrees not to exercise them in such a way as to adversely affect IntechOpen's ability to utilize the full benefit of this Publication Agreement: (i) reprographic rights worldwide, other than those which subsist in the typographical arrangement of the Work as published by IntechOpen; and (ii) public lending rights arising under the Public Lending Right Act 1979, as amended from time to time, and any similar rights arising in any part of the world.
\n\nThe Author, and any Co-Author, confirms that they are, and will remain, a member of any applicable licensing and collecting society and any successor to that body responsible for administering royalties for the reprographic reproduction of copyright works.
\n\nSubject to the license granted above, copyright in the Work and all versions of it created during IntechOpen's editing process, including all published versions, is retained by the Author and any Co-Authors.
\n\nSubject to the license granted above, the Author and Co-Authors retain patent, trademark and other intellectual property rights to the Work.
\n\nAll rights granted to IntechOpen in this Article are assignable, sublicensable or otherwise transferrable to third parties without the specific approval of the Author or Co-Authors.
\n\nThe Author, on his/her own behalf and on behalf of the Co-Authors, will not assert any rights under the Copyright, Designs and Patents Act 1988 to object to derogatory treatment of the Work as a consequence of IntechOpen's changes to the Work arising from the translation of it, corrections and edits for house style, removal of problematic material and other reasonable edits as determined by IntechOpen.
\n\nAUTHOR'S DUTIES
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\n\nAll payments shall be due 30 days from the date of issue of the invoice. The Author or whoever is paying on behalf of the Author and Co-Authors will bear all banking and similar charges incurred.
\n\nThe Author shall obtain in writing all consents necessary for the reproduction of any material in which a third-party right exists, including quotations, photographs and illustrations, in all editions of the Work worldwide for the full term of the above licenses, and shall provide to IntechOpen, at its request, the original copies of such consents for inspection or the photocopies of such consents.
\n\nThe Author shall obtain written informed consent for publication from those who might recognize themselves or be identified by others, for example from case reports or photographs.
\n\nThe Author shall respect confidentiality during and after the termination of this Agreement. The information contained in all correspondence and documents as part of the publishing activity between IntechOpen and the Author and Co-Authors are confidential and are intended only for the recipients. The contents of any communication may not be disclosed publicly and are not intended for unauthorized use or distribution. Any use, disclosure, copying, or distribution is prohibited and may be unlawful.
\n\nAUTHOR'S WARRANTY
\n\nThe Author and Co-Authors confirm and warrant that the Work does not and will not breach any applicable law or the rights of any third party and, specifically, that the Work contains no matter that is defamatory or that infringes any literary or proprietary rights, intellectual property rights, or any rights of privacy.
\n\nThe Author and Co-Authors confirm that: (i) the Work is their original work and is not copied wholly or substantially from any other work or material or any other source; (ii) the Work has not been formally published in any other peer-reviewed journal or in a book or edited collection, and is not under consideration for any such publication; (iii) Authors and any applicable Co-Authors are qualifying persons under section 154 of the Copyright, Designs and Patents Act 1988; (iv) Authors and any applicable Co-Authors have not assigned, and will not during the term of this Publication Agreement purport to assign, any of the rights granted to IntechOpen under this Publication Agreement; and (v) the rights granted by this Publication Agreement are free from any security interest, option, mortgage, charge or lien.
\n\nThe Author and Co-Authors also confirm and warrant that: (i) he/she has the power to enter into this Publication Agreement on his or her own behalf and on behalf of each Co-Author; and (ii) has the necessary rights and/or title in and to the Work to grant IntechOpen, on behalf of themselves and any Co-Author, the rights and licences in this Publication Agreement. If the Work was prepared jointly by the Author and Co-Authors, the Author confirms that: (i) all Co-Authors agree to the submission, license and publication of the Work on the terms of this Publication Agreement; and (ii) the Author has the authority to enter into this biding Publication Agreement on behalf of each Co-Author. The Author shall: (i) ensure each Co-Author complies with all relevant provisions of this Publication Agreement, including those relating to confidentiality, performance and standards, as if a party to this Publication Agreement; and (ii) remain primarily liable for all acts and/or omissions of each Co-Author.
\n\nThe Author agrees to indemnify IntechOpen harmless against all liabilities, costs, expenses, damages and losses, as well as all reasonable legal costs and expenses suffered or incurred by IntechOpen arising out of, or in connection with, any breach of the agreed confirmations and warranties. This indemnity shall not apply in a situation in which a claim results from IntechOpen's negligence or willful misconduct.
\n\nNothing in this Publication Agreement shall have the effect of excluding or limiting any liability for death or personal injury caused by negligence or any other liability that cannot be excluded or limited by applicable law.
\n\nTERMINATION
\n\nIntechOpen has the right to terminate this Publication Agreement for quality, program, technical or other reasons with immediate effect, including without limitation (i) if the Author and/or any Co-Author commits a material breach of this Publication Agreement; (ii) if the Author and/or any Co-Author (being a private individual) is the subject of a bankruptcy petition, application or order; or (iii) if the Author and/or any Co-Author (as a corporate entity) commences negotiations with all or any class of its creditors with a view to rescheduling any of its debts, or makes a proposal for, or enters into, any compromise or arrangement with any of its creditors.
\n\nIn the event of termination, IntechOpen will notify the Author of the decision in writing.
\n\nIntechOpen’s DUTIES AND RIGHTS
\n\nUnless prevented from doing so by events beyond its reasonable control, IntechOpen, at its discretion, agrees to publish the Work attributing it to the Author and Co-Authors.
\n\nUnless prevented from doing so by events beyond its reasonable control, IntechOpen agrees to provide publishing services which include: managing editing (editorial and publishing process coordination, Author assistance); publishing software technology; language copyediting; typesetting; online publishing; hosting and web management; and abstracting and indexing services.
\n\nIntechOpen agrees to offer free online access to readers and use reasonable efforts to promote the Publication to relevant audiences.
\n\nIntechOpen is granted the authority to enforce the rights from this Publication Agreement on behalf of the Author and Co-Authors against third parties, for example in cases of plagiarism or copyright infringements. In respect of any such infringement or suspected infringement of the copyright in the Work, IntechOpen shall have absolute discretion in addressing any such infringement that is likely to affect IntechOpen's rights under this Publication Agreement, including issuing and conducting proceedings against the suspected infringer.
\n\nIntechOpen has the right to include/use the Author and Co-Authors names and likeness in connection with scientific dissemination, retrieval, archiving, web hosting and promotion and marketing of the Work and has the right to contact the Author and Co-Authors until the Work is publicly available on any platform owned and/or operated by IntechOpen.
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\n\nThird Party Rights: A person who is not a party to this Publication Agreement may not enforce any of its provisions under the Contracts (Rights of Third Parties) Act 1999.
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\n\nWaiver: No failure or delay by a party to exercise any right or remedy provided under this Publication Agreement or by law shall constitute a waiver of that or any other right or remedy, nor shall it preclude or restrict the further exercise of that or any other right or remedy. No single or partial exercise of such right or remedy shall preclude or restrict the further exercise of that or any other right or remedy.
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\n\nSeverance: If any provision, or part-provision, of this Publication Agreement is, or becomes invalid, illegal or unenforceable, it shall be deemed modified to the minimum extent necessary to make it valid, legal and enforceable. If such modification is not possible, the relevant provision or part-provision shall be deemed deleted. Any modification to, or deletion of, a provision or part-provision under this clause shall not affect the validity and enforceability of the rest of this Publication Agreement.
\n\nNo partnership: Nothing in this Publication Agreement is intended to, or shall be deemed to, establish or create any partnership or joint venture or the relationship of principal and agent or employer and employee between IntechOpen and the Author or any Co-Author, nor authorize any party to make or enter into any commitments for, or on behalf of, any other party.
\n\nGoverning law: This Publication Agreement and any dispute or claim, including non-contractual disputes or claims arising out of, or in connection with it, or its subject matter or formation, shall be governed by and construed in accordance with the law of England and Wales. The parties submit to the exclusive jurisdiction of the English courts to settle any dispute or claim arising out of, or in connection with, this Publication Agreement, including any non-contractual disputes or claims.
\n\nPolicy last updated: 2018-09-11
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He is a full professor of signal processing and pattern recognition and is head of the Signals and Communications Department at ULPGC, teaching from 2001 on subjects on signal processing and learning theory. His research lines are biometrics, biomedical signals and images, data mining, classification system, signal and image processing, machine learning, and environmental intelligence. He has researched in 52 international and Spanish research projects, some of them as head researcher. He is co-author of 4 books, co-editor of 27 proceedings books, guest editor for 8 JCR-ISI international journals, and up to 24 book chapters. He has over 450 papers published in international journals and conferences (81 of them indexed on JCR – ISI - Web of Science). He has published seven patents in the Spanish Patent and Trademark Office. He has been a supervisor on 8 Ph.D. theses (11 more are under supervision), and 130 master theses. 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He is currently a principal researcher in data analytics and optimisation at TECNALIA (Spain), a visiting fellow at the Basque Center for Applied Mathematics (BCAM) and a part-time lecturer at the University of the Basque Country (UPV/EHU). His research interests gravitate on the use of descriptive, prescriptive and predictive algorithms for data mining and optimization in a diverse range of application fields such as Energy, Transport, Telecommunications, Health and Industry, among others. In these fields he has published more than 240 articles, co-supervised 8 Ph.D. theses, edited 6 books, coauthored 7 patents and participated/led more than 40 research projects. 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He also obtained an MSc in Molecular and Genetic Medicine, and a Ph.D. in Clinical Immunology and Human Genetics from the University of Sheffield, UK. He also completed a short-term fellowship in Pediatric Clinical Immunology and Bone Marrow Transplantation at Newcastle General Hospital, England. Dr. Rezaei is a Full Professor of Immunology and Vice Dean of International Affairs and Research, at the School of Medicine, Tehran University of Medical Sciences, and the co-founder and head of the Research Center for Immunodeficiencies. He is also the founding president of the Universal Scientific Education and Research Network (USERN). Dr. Rezaei has directed more than 100 research projects and has designed and participated in several international collaborative projects. He is an editor, editorial assistant, or editorial board member of more than forty international journals. He has edited more than 50 international books, presented more than 500 lectures/posters in congresses/meetings, and published more than 1,100 scientific papers in international journals.",institutionString:"Tehran University of Medical Sciences",institution:{name:"Tehran University of Medical Sciences",country:{name:"Iran"}}},{id:"180733",title:"Dr.",name:"Jean",middleName:null,surname:"Engohang-Ndong",slug:"jean-engohang-ndong",fullName:"Jean Engohang-Ndong",position:null,profilePictureURL:"https://mts.intechopen.com/storage/users/180733/images/system/180733.png",biography:"Dr. Jean Engohang-Ndong was born and raised in Gabon. After obtaining his Associate Degree of Science at the University of Science and Technology of Masuku, Gabon, he continued his education in France where he obtained his BS, MS, and Ph.D. in Medical Microbiology. He worked as a post-doctoral fellow at the Public Health Research Institute (PHRI), Newark, NJ for four years before accepting a three-year faculty position at Brigham Young University-Hawaii. Dr. Engohang-Ndong is a tenured faculty member with the academic rank of Full Professor at Kent State University, Ohio, where he teaches a wide range of biological science courses and pursues his research in medical and environmental microbiology. Recently, he expanded his research interest to epidemiology and biostatistics of chronic diseases in Gabon.",institutionString:"Kent State University",institution:{name:"Kent State University",country:{name:"United States of America"}}},{id:"188773",title:"Prof.",name:"Emmanuel",middleName:null,surname:"Drouet",slug:"emmanuel-drouet",fullName:"Emmanuel Drouet",position:null,profilePictureURL:"https://mts.intechopen.com/storage/users/188773/images/system/188773.png",biography:"Emmanuel Drouet, PharmD, is a Professor of Virology at the Faculty of Pharmacy, the University Grenoble-Alpes, France. As a head scientist at the Institute of Structural Biology in Grenoble, Dr. Drouet’s research investigates persisting viruses in humans (RNA and DNA viruses) and the balance with our host immune system. He focuses on these viruses’ effects on humans (both their impact on pathology and their symbiotic relationships in humans). He has an excellent track record in the herpesvirus field, and his group is engaged in clinical research in the field of Epstein-Barr virus diseases. He is the editor of the online Encyclopedia of Environment and he coordinates the Universal Health Coverage education program for the BioHealth Computing Schools of the European Institute of Science.",institutionString:null,institution:{name:"Grenoble Alpes University",country:{name:"France"}}},{id:"131400",title:"Prof.",name:"Alfonso J.",middleName:null,surname:"Rodriguez-Morales",slug:"alfonso-j.-rodriguez-morales",fullName:"Alfonso J. Rodriguez-Morales",position:null,profilePictureURL:"https://mts.intechopen.com/storage/users/131400/images/system/131400.png",biography:"Dr. Rodriguez-Morales is an expert in tropical and emerging diseases, particularly zoonotic and vector-borne diseases (especially arboviral diseases). He is the president of the Travel Medicine Committee of the Pan-American Infectious Diseases Association (API), as well as the president of the Colombian Association of Infectious Diseases (ACIN). He is a member of the Committee on Tropical Medicine, Zoonoses, and Travel Medicine of ACIN. He is a vice-president of the Latin American Society for Travel Medicine (SLAMVI) and a Member of the Council of the International Society for Infectious Diseases (ISID). Since 2014, he has been recognized as a Senior Researcher, at the Ministry of Science of Colombia. He is a professor at the Faculty of Medicine of the Fundacion Universitaria Autonoma de las Americas, in Pereira, Risaralda, Colombia. He is an External Professor, Master in Research on Tropical Medicine and International Health, Universitat de Barcelona, Spain. He is also a professor at the Master in Clinical Epidemiology and Biostatistics, Universidad Científica del Sur, Lima, Peru. In 2021 he has been awarded the “Raul Isturiz Award” Medal of the API. Also, in 2021, he was awarded with the “Jose Felix Patiño” Asclepius Staff Medal of the Colombian Medical College, due to his scientific contributions to COVID-19 during the pandemic. He is currently the Editor in Chief of the journal Travel Medicine and Infectious Diseases. His Scopus H index is 47 (Google Scholar H index, 68).",institutionString:"Institución Universitaria Visión de las Américas, Colombia",institution:null},{id:"332819",title:"Dr.",name:"Chukwudi Michael",middleName:"Michael",surname:"Egbuche",slug:"chukwudi-michael-egbuche",fullName:"Chukwudi Michael Egbuche",position:null,profilePictureURL:"https://mts.intechopen.com/storage/users/332819/images/14624_n.jpg",biography:"I an Dr. Chukwudi Michael Egbuche. I am a Senior Lecturer in the Department of Parasitology and Entomology, Nnamdi Azikiwe University, Awka.",institutionString:null,institution:{name:"Nnamdi Azikiwe University",country:{name:"Nigeria"}}},{id:"284232",title:"Mr.",name:"Nikunj",middleName:"U",surname:"Tandel",slug:"nikunj-tandel",fullName:"Nikunj Tandel",position:null,profilePictureURL:"https://mts.intechopen.com/storage/users/284232/images/8275_n.jpg",biography:'Mr. Nikunj Tandel has completed his Master\'s degree in Biotechnology from VIT University, India in the year of 2012. He is having 8 years of research experience especially in the field of malaria epidemiology, immunology, and nanoparticle-based drug delivery system against the infectious diseases, autoimmune disorders and cancer. He has worked for the NIH funded-International Center of Excellence in Malaria Research project "Center for the study of complex malaria in India (CSCMi)" in collaboration with New York University. The preliminary objectives of the study are to understand and develop the evidence-based tools and interventions for the control and prevention of malaria in different sites of the INDIA. Alongside, with the help of next-generation genomics study, the team has studied the antimalarial drug resistance in India. Further, he has extended his research in the development of Humanized mice for the study of liver-stage malaria and identification of molecular marker(s) for the Artemisinin resistance. At present, his research focuses on understanding the role of B cells in the activation of CD8+ T cells in malaria. Received the CSIR-SRF (Senior Research Fellow) award-2018, FIMSA (Federation of Immunological Societies of Asia-Oceania) Travel Bursary award to attend the IUIS-IIS-FIMSA Immunology course-2019',institutionString:"Nirma University",institution:{name:"Nirma University",country:{name:"India"}}},{id:"334383",title:"Ph.D.",name:"Simone",middleName:"Ulrich",surname:"Ulrich Picoli",slug:"simone-ulrich-picoli",fullName:"Simone Ulrich Picoli",position:null,profilePictureURL:"https://mts.intechopen.com/storage/users/334383/images/15919_n.jpg",biography:"Graduated in Pharmacy from Universidade Luterana do Brasil (1999), Master in Agricultural and Environmental Microbiology from Federal University of Rio Grande do Sul (2002), Specialization in Clinical Microbiology from Universidade de São Paulo, USP (2007) and PhD in Sciences in Gastroenterology and Hepatology (2012). She is currently an Adjunct Professor at Feevale University in Medicine and Biomedicine courses and a permanent professor of the Academic Master\\'s Degree in Virology. She has experience in the field of Microbiology, with an emphasis on Bacteriology, working mainly on the following topics: bacteriophages, bacterial resistance, clinical microbiology and food microbiology.",institutionString:null,institution:{name:"Universidade Feevale",country:{name:"Brazil"}}},{id:"229220",title:"Dr.",name:"Amjad",middleName:"Islam",surname:"Aqib",slug:"amjad-aqib",fullName:"Amjad Aqib",position:null,profilePictureURL:"https://mts.intechopen.com/storage/users/229220/images/system/229220.png",biography:"Dr. Amjad Islam Aqib obtained a DVM and MSc (Hons) from University of Agriculture Faisalabad (UAF), Pakistan, and a PhD from the University of Veterinary and Animal Sciences Lahore, Pakistan. Dr. Aqib joined the Department of Clinical Medicine and Surgery at UAF for one year as an assistant professor where he developed a research laboratory designated for pathogenic bacteria. Since 2018, he has been Assistant Professor/Officer in-charge, Department of Medicine, Manager Research Operations and Development-ORIC, and President One Health Club at Cholistan University of Veterinary and Animal Sciences, Bahawalpur, Pakistan. He has nearly 100 publications to his credit. His research interests include epidemiological patterns and molecular analysis of antimicrobial resistance and modulation and vaccine development against animal pathogens of public health concern.",institutionString:"Cholistan University of Veterinary and Animal Sciences",institution:{name:"University of Agriculture Faisalabad",country:{name:"Pakistan"}}},{id:"333753",title:"Dr.",name:"Rais",middleName:null,surname:"Ahmed",slug:"rais-ahmed",fullName:"Rais Ahmed",position:null,profilePictureURL:"https://mts.intechopen.com/storage/users/333753/images/20168_n.jpg",biography:null,institutionString:null,institution:{name:"University of Agriculture Faisalabad",country:{name:"Pakistan"}}},{id:"62900",title:"Prof.",name:"Fethi",middleName:null,surname:"Derbel",slug:"fethi-derbel",fullName:"Fethi Derbel",position:null,profilePictureURL:"https://mts.intechopen.com/storage/users/62900/images/system/62900.jpeg",biography:"Professor Fethi Derbel was born in 1960 in Tunisia. He received his medical degree from the Sousse Faculty of Medicine at Sousse, University of Sousse, Tunisia. He completed his surgical residency in General Surgery at the University Hospital Farhat Hached of Sousse and was a member of the Unit of Liver Transplantation in the University of Rennes, France. He then worked in the Department of Surgery at the Sahloul University Hospital in Sousse. Professor Derbel is presently working at the Clinique les Oliviers, Sousse, Tunisia. His hospital activities are mostly concerned with laparoscopic, colorectal, pancreatic, hepatobiliary, and gastric surgery. He is also very interested in hernia surgery and performs ventral hernia repairs and inguinal hernia repairs. He has been a member of the GREPA and Tunisian Hernia Society (THS). During his residency, he managed patients suffering from diabetic foot, and he was very interested in this pathology. For this reason, he decided to coordinate a book project dealing with the diabetic foot. Professor Derbel has published many articles in journals and collaborates intensively with IntechOpen Access Publisher as an editor.",institutionString:"Clinique les Oliviers",institution:null},{id:"300144",title:"Dr.",name:"Meriem",middleName:null,surname:"Braiki",slug:"meriem-braiki",fullName:"Meriem Braiki",position:null,profilePictureURL:"https://mts.intechopen.com/storage/users/300144/images/system/300144.jpg",biography:"Dr. Meriem Braiki is a specialist in pediatric surgeon from Tunisia. She was born in 1985. She received her medical degree from the University of Medicine at Sousse, Tunisia. She achieved her surgical residency training periods in Pediatric Surgery departments at University Hospitals in Monastir, Tunis and France.\r\nShe is currently working at the Pediatric surgery department, Sidi Bouzid Hospital, Tunisia. Her hospital activities are mostly concerned with laparoscopic, parietal, urological and digestive surgery. She has published several articles in diffrent journals.",institutionString:"Sidi Bouzid Regional Hospital",institution:null},{id:"229481",title:"Dr.",name:"Erika M.",middleName:"Martins",surname:"de Carvalho",slug:"erika-m.-de-carvalho",fullName:"Erika M. de Carvalho",position:null,profilePictureURL:"https://mts.intechopen.com/storage/users/229481/images/6397_n.jpg",biography:null,institutionString:null,institution:{name:"Oswaldo Cruz Foundation",country:{name:"Brazil"}}},{id:"186537",title:"Prof.",name:"Tonay",middleName:null,surname:"Inceboz",slug:"tonay-inceboz",fullName:"Tonay Inceboz",position:null,profilePictureURL:"https://mts.intechopen.com/storage/users/186537/images/system/186537.jfif",biography:"I was graduated from Ege University of Medical Faculty (Turkey) in 1988 and completed his Med. PhD degree in Medical Parasitology at the same university. I became an Associate Professor in 2008 and Professor in 2014. I am currently working as a Professor at the Department of Medical Parasitology at Dokuz Eylul University, Izmir, Turkey.\n\nI have given many lectures, presentations in different academic meetings. I have more than 60 articles in peer-reviewed journals, 18 book chapters, 1 book editorship.\n\nMy research interests are Echinococcus granulosus, Echinococcus multilocularis (diagnosis, life cycle, in vitro and in vivo cultivation), and Trichomonas vaginalis (diagnosis, PCR, and in vitro cultivation).",institutionString:"Dokuz Eylül University",institution:{name:"Dokuz Eylül University",country:{name:"Turkey"}}},{id:"71812",title:"Prof.",name:"Hanem Fathy",middleName:"Fathy",surname:"Khater",slug:"hanem-fathy-khater",fullName:"Hanem Fathy Khater",position:null,profilePictureURL:"https://mts.intechopen.com/storage/users/71812/images/1167_n.jpg",biography:"Prof. Khater is a Professor of Parasitology at Benha University, Egypt. She studied for her doctoral degree, at the Department of Entomology, College of Agriculture, Food and Natural Resources, University of Missouri, Columbia, USA. She has completed her Ph.D. degrees in Parasitology in Egypt, from where she got the award for “the best scientific Ph.D. dissertation”. She worked at the School of Biological Sciences, Bristol, England, the UK in controlling insects of medical and veterinary importance as a grant from Newton Mosharafa, the British Council. Her research is focused on searching of pesticides against mosquitoes, house flies, lice, green bottle fly, camel nasal botfly, soft and hard ticks, mites, and the diamondback moth as well as control of several parasites using safe and natural materials to avoid drug resistances and environmental contamination.",institutionString:null,institution:{name:"Banha University",country:{name:"Egypt"}}},{id:"99780",title:"Prof.",name:"Omolade",middleName:"Olayinka",surname:"Okwa",slug:"omolade-okwa",fullName:"Omolade Okwa",position:null,profilePictureURL:"https://mts.intechopen.com/storage/users/99780/images/system/99780.jpg",biography:"Omolade Olayinka Okwa is presently a Professor of Parasitology at Lagos State University, Nigeria. She has a PhD in Parasitology (1997), an MSc in Cellular Parasitology (1992), and a BSc (Hons) Zoology (1990) all from the University of Ibadan, Nigeria. She teaches parasitology at the undergraduate and postgraduate levels. She was a recipient of a Commonwealth fellowship supported by British Council tenable at the Centre for Entomology and Parasitology (CAEP), Keele University, United Kingdom between 2004 and 2005. She was awarded an Honorary Visiting Research Fellow at the same university from 2005 to 2007. \nShe has been an external examiner to the Department of Veterinary Microbiology and Parasitology, University of Ibadan, MSc programme between 2010 and 2012. She is a member of the Nigerian Society of Experimental Biology (NISEB), Parasitology and Public Health Society of Nigeria (PPSN), Science Association of Nigeria (SAN), Zoological Society of Nigeria (ZSN), and is Vice Chairperson of the Organisation of Women in Science (OWSG), LASU chapter. She served as Head of Department of Zoology and Environmental Biology, Lagos State University from 2007 to 2010 and 2014 to 2016. She is a reviewer for several local and international journals such as Unilag Journal of Science, Libyan Journal of Medicine, Journal of Medicine and Medical Sciences, and Annual Research and Review in Science. \nShe has authored 45 scientific research publications in local and international journals, 8 scientific reviews, 4 books, and 3 book chapters, which includes the books “Malaria Parasites” and “Malaria” which are IntechOpen access publications.",institutionString:"Lagos State University",institution:{name:"Lagos State University",country:{name:"Nigeria"}}},{id:"273100",title:"Dr.",name:"Vijay",middleName:null,surname:"Gayam",slug:"vijay-gayam",fullName:"Vijay Gayam",position:null,profilePictureURL:"https://mts.intechopen.com/storage/users/273100/images/system/273100.jpeg",biography:"Dr. Vijay Bhaskar Reddy Gayam is currently practicing as an internist at Interfaith Medical Center in Brooklyn, New York, USA. He is also a Clinical Assistant Professor at the SUNY Downstate University Hospital and Adjunct Professor of Medicine at the American University of Antigua. He is a holder of an M.B.B.S. degree bestowed to him by Osmania Medical College and received his M.D. at Interfaith Medical Center. His career goals thus far have heavily focused on direct patient care, medical education, and clinical research. He currently serves in two leadership capacities; Assistant Program Director of Medicine at Interfaith Medical Center and as a Councilor for the American\r\nFederation for Medical Research. As a true academician and researcher, he has more than 50 papers indexed in international peer-reviewed journals. He has also presented numerous papers in multiple national and international scientific conferences. His areas of research interest include general internal medicine, gastroenterology and hepatology. He serves as an editor, editorial board member and reviewer for multiple international journals. His research on Hepatitis C has been very successful and has led to multiple research awards, including the 'Equity in Prevention and Treatment Award” from the New York Department of Health Viral Hepatitis Symposium (2018) and the 'Presidential Poster Award” awarded to him by the American College of Gastroenterology (2018). 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