Addressing Sustainability Exposures through Corporate Social Responsibility in Nigeria An International Perspective (original) (raw)
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Advances in Multidisciplinary & Scientific Research Journal Publication, 2019
The study examined how sustainable development can be achieved through CSR sustainability reporting. Data for this research was obtained from secondary sources purposefully from five Nigerian banks and five manufacturing firms that have consistently reported their CSR initiatives. The annual report and account of selected companies as well as their CSR Sustainability reports were examined. The study adopted a qualitative method of data analysis. Content and thematic analysis of the annual reports using the Global reporting initiative index was done with the aid of NVivo software. Findings revealed that the selected firms have consistently reported their CSR initiatives and programmes in the annual reports and accounts. Based on the findings, the study concluded the concept of CSR and its reporting is inevitable because of the ever growing concern about sustainable development, environmental degradation, new concerns and expectations of citizens, increased awareness of the public and investors on issues of company responsibility. The study recommended that the government should create enabling environment that will ensure speedy fast tracking of the proposed CSR bill. The bill is for an Act to provide standards, reporting mechanisms and the extent to which the firms should be responsible. Sustainability Reporting is rapidly evolving though, different standards and frameworks have emerged. There is need to harmonise Sustainability Reporting standards and guidelines. This will enhance uniformity in reporting and comparison.
Corporate social responsibility performance among listed non-financial firms in Nigeria
Journal of Asian Business Strategy, 2023
The extent of involvement in Corporate Social Responsibility (CSR) by companies in Nigeria is required in order to know the level of acceptance and actual performance of CSR demands on the companies. This descriptive research design study was carried out using data from the annual reports (2010-2019) of listed non-financial companies in Nigeria. Social and environmental disclosures based on the Global Reporting Initiative framework (GRI-4) were used. Social disclosure is measured as an index score generated from the score of 1 or 0 for disclosures or otherwise on community, donation, employee, health and safety, and customer/complaints. Environmental disclosure represents an index score generated from the score of 1 or 0 for disclosures or otherwise on material, energy, water, biodiversity, emission/greenhouse gas, waste management, product services, and compliance with laws. The companies are involved in activities that contribute more to social sustainability than environmental sustainability, accounting for an aggregate average performance score of 0.71 (71%) and 0.03 (3%) for social and environmental responsibility respectively. The firms contributed significantly to social responsibility and very little with no significant performance in environmental responsibility. The very low environmental responsibility performance among these firms is worrisome and calls for investigation into the existing national environmental regulatory frameworks.
Environmental issues have emerged as a major aspect of the discussion of the problems of economic growth and development. Such issues have taken, inter alia, the form of global warming; atmospheric, soil and water pollution caused by industrial activities. However, while there is an extensive research on the role of the Global Reporting Initiative and the International Organization for Standardization (ISO) guidelines in determining corporate environmental performance indicators and the extent of disclosures in annual report in developed economies, in contrast, there is a considerable paucity of studies conducted in the context of developing economies. To this end, this research investigates the relationship between the performance of firms and the level of corporate social environmental sustainability reporting among firms in the selected industries. To achieve this, the study critically developed and utilized a disclosure index to measure the extent of sustainability disclosure made by companies in their corporate annual reports. The multiple regression analysis was used to test the research propositions in this study. The study observed that there is a significant relationship between the performance of firms and the level of corporate social environmental sustainability reporting. The paper therefore recommends that environmental disclosure themes and evidence must be established to provide foundation for improving corporate social environmental sustainability disclosures among companies in Nigeria. Keywords: Corporate, Environmental Issues, Social, Sustainability, Disclosures, Performance, Stakeholders, ecosystems.
Environmental issues have emerged as a major aspect of the discussion of the problems of economic growth and development. Such issues have taken, inter alia, the form of global warming; atmospheric, soil and water pollution caused by industrial activities. However, while there is an extensive research on the role of the Global Reporting Initiative and the International Organization for Standardization (ISO) guidelines in determining corporate environmental performance indicators and the extent of disclosures in annual report in developed economies, in contrast, there is a considerable paucity of studies conducted in the context of developing economies. To this end, this research investigates the relationship between the performance of firms and the level of corporate social environmental sustainability reporting among firms in the selected industries. To achieve this, the study critically developed and utilized a disclosure index to measure the extent of sustainability disclosure made by companies in their corporate annual reports. The multiple regression analysis was used to test the research propositions in this study. The study observed that there is a significant relationship between the performance of firms and the level of corporate social environmental sustainability reporting. The paper therefore recommends that environmental disclosure themes and evidence must be established to provide foundation for improving corporate social environmental sustainability disclosures among companies in Nigeria. Keywords: Corporate, Environmental Issues, Social, Sustainability, Disclosures, Performance, Stakeholders, ecosystems.
Journal of Business, Economics and Finance, 2021
Purpose-This paper aims at proffering solutions to the problem of unsustainable practices by multinationals in Nigeria, especially those operating in the oil-rich Niger Delta region. The study looks at strategic corporate social sustainability and how it affects organisational sustainability. Methodology-The cross sectional research design was followed in this study, while judgmental and snow-balling sampling techniques were used in the process of collecting data. Strategic corporate social responsibility was observed through philanthropic, ethical and legal responsibilities, while organizational sustainability was measured using economic, environmental and social sustainability. Findings-Results of analyses showed that, and philanthropic, ethical and legal responsibilities significantly affected economic environmental, and social sustainability. Conclusion-The study empirically proved that, strategic corporate social responsibility influences organisational sustainability positively, therefore multinational corporations should take corporate social responsibility seriously.
Managerial perceptions of corporate sustainability reporting determinants in Nigeria
Journal of Business & Retail Management Research
This study investigated managerial perceptions of the determinants of sustainability reporting in Nigeria. The rationales that managers construct around institutional pressures in relation to sustainability reporting constitute an under explored area in research. A survey research design was employed. A questionnaire was designed for the purpose of data collection and copies were administered to 81 companies in oil and gas, banking, industrial goods and consumer goods sectors in Nigeria. The results showed that corporate respondents opined that a mix of factors-coercive, normative and mimetic factors actually influence sustainability reporting of companies. The findings showed that corporate actors attributed higher values to initiation from the company chief executive officer (CEO) and investors' concern with long-term performance of the business. Interestingly, regulatory pressures and employee training were found to have higher mean scores than pressures arising from corporate membership of external governance bodies, total asset base and foreign operations. Results from factor analysis showed that respondents opined that sustainability reporting was influenced by a mix of coercive, normative and mimetic factors. Pearson correlation between the level of sustainability reporting and coercive, normative and mimetic pressures showed significant association between the level of sustainability reporting and coercive and normative pressures. This study identified that a number of pressures combine to influence sustainability reporting. The rationales attributed to the factors could be a pointer to the areas that members of the organizational field need to improve upon to enable companies to provide reliable sustainability reporting and disclosures. This study contributes to the literature by focusing on aspects of the organizational field or environment of business that can aid improvements in the quantity and quality of sustainability reporting. This aspect of research is yet to be undertaken in the Nigerian context.
Environmental Sustainability Practice is one of the major Corporate Social Responsibilities (CSR) of manufacturing companies in Nigeria necessary to achieve development and poverty eradication among the populace. The study ascertained the extent of environmental sustainable social responsibility corporate practices of manufacturing companies in Cross River State. Descriptive survey design was adopted for the study. The population comprised 578 community representatives in Cross River State and a sample of 216 community representatives selected using a three stage multi-stage sampling technique. The study was conducted in the eighteen local government areas in Cross River State. One research questions guided the study and one hypothesis was tested at 0.05 level of significance. A 12-item validated structured questionnaire was used to collect data and the reliability of the instrument established using split-half method. The reliability coefficient of the instrument was 0.82, obtained with Pearson product moment correlation formula. The data collected were analyzed using mean scores for the research questions. The hypotheses were tested with one-way analysis of variance. The findings of the study revealed among others that the manufacturing companies in Cross River State practice corporate social responsibility in environmental sustainability to a small extent. It was recommended among others that owners of manufacturing companies should be sensitized through trainings to proactively promote the public interest by engaging in corporate social responsibility practices that encourage community growth and development, and voluntarily eliminate practices that harm their environment regardless of legality.
Determinants of Corporate Social Responsibility: An Analysis of Selected Sectors in Nigeria
International Research Journal of Applied Finance , 2014
This study aims at ascertaining the determinants of corporate social responsibility in the Nigerian business environment. To achieve this, the study sampled out some selected companies across four different sectors in the Nigerian Stock Exchange. Secondary data were collected from the companies’ annual reports. The Eview statistical tool was used to analyze the data and test the hypotheses. The result of the study shows that altruistic donation, regulatory requirements and political donations all have indirect relationship with CSR. The study; therefore, concludes that political donations, regulatory requirements and philanthropic or altruistic activities are the three determinates of CSR in Nigerian listed companies. Hence, the study recommends that Nigerian Stock Exchange and the Financial Reporting Council of Nigeria should enhance their enforcement powers to ensure that companies comply with Section 38(2) of Companies and Allied Matters Act (CAMA),2004.
IJMRAP, 2023
The study evaluated how corporate sustainability practices affect the financial performance of listed non-financial companies in Nigeria. The study specifically addressed the relationship between ROA, ROE, EVA, and Tobin's Q and social, environmental, governance, and ESG disclosure indexes. Both longitudinal and expost facto study designs were used. As of November 6, 2022, there were 107 non-financial companies listed on the Nigerian Exchange Group database; sampling technique was used to select 77 companies from this population. NGX database, websites of sampled companies, and annual reports were used to collect data in accordance with GRI and ESG sustainability disclosure criteria. Descriptive and inferential statistics were used to evaluate the data. The study revealed that corporate sustainability disclosure has significant effect on return on asset, Tobin's Q, and return on equity of listed non-financial companies in Nigeria. Meanwhile, the study showed that corporate sustainability disclosure has no significant effect on the economic value added of listed non-financial companies in Nigeria. The study, therefore, recommends that stakeholder engagement should be enhanced to gather information and feedback on how companies can be sustainably beneficial to stakeholders.
2020
Agitation for societal development has been on for a long time in Nigeria. This has made many communities to complain against organisations making profits in the povertyridden environments. It is for this reason that the communities call on the organisations to contribute to their development through corporate social responsibility (CSR) programmes. The study employed secondary methodology of desk research technique and found that organisations in the selected industries have contributed to the well-being of their communities. The study supports the position of the stakeholder theory that organisations should take care of all stakeholders and not only the shareholders. Going forward, it recommends that organisations in Nigerian industries should invest more in the area of corporate social investment as a form of CSR thereby ensuring that the people could achieve much needed development sustainably.