A Research-Based Model of Corporate Social Responsibility in Nigeria: The Case for Mandatory Disclosure Regulation

Itotenaan Henry Ogiri

doi:doi:10.11648/j.ijefm.20221005.18

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A Research-Based Model of Corporate Social Responsibility in Nigeria: The Case for Mandatory Disclosure Regulation

Itotenaan Henry Ogiri

Published in International Journal of Economics, Finance and Management Sciences (Volume 10, Issue 5)

Received: 5 October 2022 Accepted: 24 October 2022 Published: 30 October 2022

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Abstract

In the past, most attempts towards mandatory Corporate Social Responsibility (CSR) disclosure did not yield much results. However, there is growing body of evidence in the literature indicating that an increasing CSR disclosure in recent years has been the result of obeying government regulations. While voluntary CSR initiatives have continued to enjoy huge patronage by businesses operating in sub-Saharan Africa, a number of scholars have raised doubts as to the effectiveness of voluntary approach of CSR in meeting the disclosure needs of stakeholders in developing countries where CSR policies and institutional frameworks appears inadequate. This study employed a qualitative research methodology and made use of semi-structured interview design with a population census of 16. Furthermore, an in-depth analysis of participants’ responses was conducted with the aid of NVivo 11 data analysis software. The results revealed participants preference for mandatory CSR disclosure regulation aimed at stimulating companies to raise the level of their ethical conduct. Also, the findings highlighted the desire to protect organizational legitimacy by firms, absence of regulatory framework, weak system of governance and absence of grievance system as some of the contextual factors limiting CSR disclosure in Nigeria. From a public policy perspective, the study developed a framework for the implementation of CSR “comply or explain” model in a developing country context, and recommends that governments in sub-Saharan Africa should pass legislations to promote CSR practice.

Published in	International Journal of Economics, Finance and Management Sciences (Volume 10, Issue 5)
DOI	10.11648/j.ijefm.20221005.18
Page(s)	299-306
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Corporate Social Responsibility (CSR), Government, Mandatory Disclosure, Nigeria, Regulation, Stakeholder

References

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Itotenaan Henry Ogiri. (2022). A Research-Based Model of Corporate Social Responsibility in Nigeria: The Case for Mandatory Disclosure Regulation. International Journal of Economics, Finance and Management Sciences, 10(5), 299-306. https://doi.org/10.11648/j.ijefm.20221005.18

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Itotenaan Henry Ogiri. A Research-Based Model of Corporate Social Responsibility in Nigeria: The Case for Mandatory Disclosure Regulation. Int. J. Econ. Finance Manag. Sci. 2022, 10(5), 299-306. doi: 10.11648/j.ijefm.20221005.18

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AMA Style

Itotenaan Henry Ogiri. A Research-Based Model of Corporate Social Responsibility in Nigeria: The Case for Mandatory Disclosure Regulation. Int J Econ Finance Manag Sci. 2022;10(5):299-306. doi: 10.11648/j.ijefm.20221005.18

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@article{10.11648/j.ijefm.20221005.18,
  author = {Itotenaan Henry Ogiri},
  title = {A Research-Based Model of Corporate Social Responsibility in Nigeria: The Case for Mandatory Disclosure Regulation},
  journal = {International Journal of Economics, Finance and Management Sciences},
  volume = {10},
  number = {5},
  pages = {299-306},
  doi = {10.11648/j.ijefm.20221005.18},
  url = {https://doi.org/10.11648/j.ijefm.20221005.18},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijefm.20221005.18},
  abstract = {In the past, most attempts towards mandatory Corporate Social Responsibility (CSR) disclosure did not yield much results. However, there is growing body of evidence in the literature indicating that an increasing CSR disclosure in recent years has been the result of obeying government regulations. While voluntary CSR initiatives have continued to enjoy huge patronage by businesses operating in sub-Saharan Africa, a number of scholars have raised doubts as to the effectiveness of voluntary approach of CSR in meeting the disclosure needs of stakeholders in developing countries where CSR policies and institutional frameworks appears inadequate. This study employed a qualitative research methodology and made use of semi-structured interview design with a population census of 16. Furthermore, an in-depth analysis of participants’ responses was conducted with the aid of NVivo 11 data analysis software. The results revealed participants preference for mandatory CSR disclosure regulation aimed at stimulating companies to raise the level of their ethical conduct. Also, the findings highlighted the desire to protect organizational legitimacy by firms, absence of regulatory framework, weak system of governance and absence of grievance system as some of the contextual factors limiting CSR disclosure in Nigeria. From a public policy perspective, the study developed a framework for the implementation of CSR “comply or explain” model in a developing country context, and recommends that governments in sub-Saharan Africa should pass legislations to promote CSR practice.},
 year = {2022}
}

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TY  - JOUR
T1  - A Research-Based Model of Corporate Social Responsibility in Nigeria: The Case for Mandatory Disclosure Regulation
AU  - Itotenaan Henry Ogiri
Y1  - 2022/10/30
PY  - 2022
N1  - https://doi.org/10.11648/j.ijefm.20221005.18
DO  - 10.11648/j.ijefm.20221005.18
T2  - International Journal of Economics, Finance and Management Sciences
JF  - International Journal of Economics, Finance and Management Sciences
JO  - International Journal of Economics, Finance and Management Sciences
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PB  - Science Publishing Group
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UR  - https://doi.org/10.11648/j.ijefm.20221005.18
AB  - In the past, most attempts towards mandatory Corporate Social Responsibility (CSR) disclosure did not yield much results. However, there is growing body of evidence in the literature indicating that an increasing CSR disclosure in recent years has been the result of obeying government regulations. While voluntary CSR initiatives have continued to enjoy huge patronage by businesses operating in sub-Saharan Africa, a number of scholars have raised doubts as to the effectiveness of voluntary approach of CSR in meeting the disclosure needs of stakeholders in developing countries where CSR policies and institutional frameworks appears inadequate. This study employed a qualitative research methodology and made use of semi-structured interview design with a population census of 16. Furthermore, an in-depth analysis of participants’ responses was conducted with the aid of NVivo 11 data analysis software. The results revealed participants preference for mandatory CSR disclosure regulation aimed at stimulating companies to raise the level of their ethical conduct. Also, the findings highlighted the desire to protect organizational legitimacy by firms, absence of regulatory framework, weak system of governance and absence of grievance system as some of the contextual factors limiting CSR disclosure in Nigeria. From a public policy perspective, the study developed a framework for the implementation of CSR “comply or explain” model in a developing country context, and recommends that governments in sub-Saharan Africa should pass legislations to promote CSR practice.
VL  - 10
IS  - 5
ER  -

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Author Information

Itotenaan Henry Ogiri

Department of Accounting, Gregory University, Uturu, Nigeria

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APA Style

Itotenaan Henry Ogiri. (2022). A Research-Based Model of Corporate Social Responsibility in Nigeria: The Case for Mandatory Disclosure Regulation. International Journal of Economics, Finance and Management Sciences, 10(5), 299-306. https://doi.org/10.11648/j.ijefm.20221005.18

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ACS Style

Itotenaan Henry Ogiri. A Research-Based Model of Corporate Social Responsibility in Nigeria: The Case for Mandatory Disclosure Regulation. Int. J. Econ. Finance Manag. Sci. 2022, 10(5), 299-306. doi: 10.11648/j.ijefm.20221005.18

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AMA Style

Itotenaan Henry Ogiri. A Research-Based Model of Corporate Social Responsibility in Nigeria: The Case for Mandatory Disclosure Regulation. Int J Econ Finance Manag Sci. 2022;10(5):299-306. doi: 10.11648/j.ijefm.20221005.18

Copy | Download

@article{10.11648/j.ijefm.20221005.18,
  author = {Itotenaan Henry Ogiri},
  title = {A Research-Based Model of Corporate Social Responsibility in Nigeria: The Case for Mandatory Disclosure Regulation},
  journal = {International Journal of Economics, Finance and Management Sciences},
  volume = {10},
  number = {5},
  pages = {299-306},
  doi = {10.11648/j.ijefm.20221005.18},
  url = {https://doi.org/10.11648/j.ijefm.20221005.18},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijefm.20221005.18},
  abstract = {In the past, most attempts towards mandatory Corporate Social Responsibility (CSR) disclosure did not yield much results. However, there is growing body of evidence in the literature indicating that an increasing CSR disclosure in recent years has been the result of obeying government regulations. While voluntary CSR initiatives have continued to enjoy huge patronage by businesses operating in sub-Saharan Africa, a number of scholars have raised doubts as to the effectiveness of voluntary approach of CSR in meeting the disclosure needs of stakeholders in developing countries where CSR policies and institutional frameworks appears inadequate. This study employed a qualitative research methodology and made use of semi-structured interview design with a population census of 16. Furthermore, an in-depth analysis of participants’ responses was conducted with the aid of NVivo 11 data analysis software. The results revealed participants preference for mandatory CSR disclosure regulation aimed at stimulating companies to raise the level of their ethical conduct. Also, the findings highlighted the desire to protect organizational legitimacy by firms, absence of regulatory framework, weak system of governance and absence of grievance system as some of the contextual factors limiting CSR disclosure in Nigeria. From a public policy perspective, the study developed a framework for the implementation of CSR “comply or explain” model in a developing country context, and recommends that governments in sub-Saharan Africa should pass legislations to promote CSR practice.},
 year = {2022}
}

Copy | Download

TY  - JOUR
T1  - A Research-Based Model of Corporate Social Responsibility in Nigeria: The Case for Mandatory Disclosure Regulation
AU  - Itotenaan Henry Ogiri
Y1  - 2022/10/30
PY  - 2022
N1  - https://doi.org/10.11648/j.ijefm.20221005.18
DO  - 10.11648/j.ijefm.20221005.18
T2  - International Journal of Economics, Finance and Management Sciences
JF  - International Journal of Economics, Finance and Management Sciences
JO  - International Journal of Economics, Finance and Management Sciences
SP  - 299
EP  - 306
PB  - Science Publishing Group
SN  - 2326-9561
UR  - https://doi.org/10.11648/j.ijefm.20221005.18
AB  - In the past, most attempts towards mandatory Corporate Social Responsibility (CSR) disclosure did not yield much results. However, there is growing body of evidence in the literature indicating that an increasing CSR disclosure in recent years has been the result of obeying government regulations. While voluntary CSR initiatives have continued to enjoy huge patronage by businesses operating in sub-Saharan Africa, a number of scholars have raised doubts as to the effectiveness of voluntary approach of CSR in meeting the disclosure needs of stakeholders in developing countries where CSR policies and institutional frameworks appears inadequate. This study employed a qualitative research methodology and made use of semi-structured interview design with a population census of 16. Furthermore, an in-depth analysis of participants’ responses was conducted with the aid of NVivo 11 data analysis software. The results revealed participants preference for mandatory CSR disclosure regulation aimed at stimulating companies to raise the level of their ethical conduct. Also, the findings highlighted the desire to protect organizational legitimacy by firms, absence of regulatory framework, weak system of governance and absence of grievance system as some of the contextual factors limiting CSR disclosure in Nigeria. From a public policy perspective, the study developed a framework for the implementation of CSR “comply or explain” model in a developing country context, and recommends that governments in sub-Saharan Africa should pass legislations to promote CSR practice.
VL  - 10
IS  - 5
ER  -

Copy | Download