Influence of Ownership Structure on Corporate Social Responsibility among Non-financial Listed Firms in Nigeria
Yıl 2021,
Cilt: 2 Sayı: 2, 72 - 82, 30.12.2021
Aderemi Olalere Adebayo
Felicia Oluremilekun Oladejı
Wasiu Adebayo Lamıdı
Öz
The impact of ownership structure on CSR disclosure in Nigeria was investigated in this study.
Seventy-seven (77) non-financial firms listed on the Nigerian Stock Exchange make up the study's
population. Data from the annual reports and accounts of 77 non-financial companies listed on the
Nigerian Stock Exchange between 2017 and 2019 were used to achieve the study's goal. Multiple
regression analysis was used to examine the collected data. This research discovered that both
management besides foreign ownership had a durable advantageous influence going on CSR
disclosure, meaning that ownership structure dictates CSR disclosure practices among Nigeria's
listed non-financial enterprises to a large extent. According to the findings of this study, relevant
stakeholders in the Nigerian corporate environment should support increased foreign ownership in
the Nigerian corporate environment since their international market exposure will enable enterprises
to be more socially responsible. In addition, potential investors besides customers should make
societal info disclosure a priority when working with a company to encourage management to pay
more attention to CSR disclosure.
Kaynakça
- Abdulsalam, N. K. (2017). Firm characteristics and sustainability reporting of oil marketing companies
in Nigeria. Ph. D Thesis Usman Danfodio University, Sokoto.
- Abor, J., & Biekpe, N. (2007). Corporate governance, ownership structure and performance of SMEs in
Ghana: implications for financing opportunities. Corporate Governance. The International
Journal of Business in Society, 7(3), 288-300.
- Adams, R. (1997). Linking financial and environmental performance. Environmental Accounting and
Auditing Reporter, 2(10), 331.
- Amran, A., & Haniffa, R. (2011). Evidence in development of sustainability reporting: Case of a
developing country. Business Strategy and the Environment, 20, 141-156.
- Amran, A., & Susela Devi, S. (2008). The impact of government and foreign affiliate influence on
corporate social reporting: The case of Malaysia. Managerial Auditing Journal, 23(4), 386-404.
doi::https://doi.org/10.1108/02686900810864327
- Barnea, A., & Rubin, A. (2010). Corporate social responsibility as a conflict between shareholders.
Journal of Business Ethics, 97(1), 71–86.
- Berhad, F. G. (2016). Empowering sustainable value. Annual Integrated Report 2015.
- Brammer, S., & Millington, A. (2008). Does it pay to be different? An analysis of the relationship
between corporate social and financial performance. Strategic Management Journal, 29(12),
1325–1343.
- Branco, M. C. (2008). Social responsibility disclosure: A study of proxies for the public visibility of
Portuguese banks. The British Accounting Review, 40(2), 161-181.
doi::https://doi.org/10.1016/j.bar.2008.02.004
- Chen, J. C., & Roberts, R. W. (2010). Toward a more coherent understanding of the organization–
society relationship: A theoretical consideration for social and environmental accounting
research. Journal of Business Ethics, 97, 651-665.
- Dam, L., & Scholtens, B. (2012). Does ownership type matter for corporate social responsibility?
Corporate Governance. An International Review, 20(3), 233-252.
doi:https://doi.org/10.1111/j.1467-8683.2011.00907.x
- Dogan, Y., Ugulu, I., & Durkan, N. (2013). Wild edible plants sold in the local markets of Izmir, Turkey.
Pak. J. Bot, 45(S1), 177-184.
- Elmagrhi, M. H., Ntim, C. G., & Wang, Y. (2016). Antecedents of voluntary corporate governance
disclosure: A post-2007/08 financial crisis evidence from the influential UK Combined code.
Corporate Governance, 16(3), 507-538. doi::https://doi.org/10.1108/CG-01-2016-0006
- Fifka, M. S. (2013). Corporate responsibility reporting and its determinants—A review of the empirical
literature and a meta-analysis. Business Strategy and the Environment, 22, 1-35.
- Fung, S., & Tsai, S. C. (2012). Institutional ownership and corporate investment performance. Canadian
Journal of Administrative Sciences, 29, 348-365.
- Gamerschlag, R., Möller, K., & Verbeeten, F. (2011). Determinants of voluntary CSR disclosure:
empirical evidence from Germany. Review of Managerial Science, 5(1-3), 233-262.
doi:https://doi.org/10.1007/s11846-010-0052-3
- Hooghiemstra, R. (2012). What determines the informativeness of firms’ explanations for deviations
from the Dutch corporate governance code. Accounting and Business Research, 42, 1-27.
- Khan, A., Muttakin, M. B., & Siddiqui, J. (2013). Corporate governance and corporate social
responsibility disclosures: Evidence from an emerging economy. Journal of Business Ethics,
114(2), 207-223. doi:https://doi.org/10.1007/s10551-012-1336-0
- Khan, H. U. (2010). The effect of corporate governance elements on corporate social responsibility
(CSR) reporting: Empirical evidence from private commercial banks of Bangladesh.
International Journal of Law and Management, 52(2), 82-109.
- Mallin, C., & Ow-Yong, K. (2012). Factors influencing corporate governance disclosures: Evidence
from Alternative investment market companies in the UK. European Journal of Finance, 18,
515-533.
- Manning, B., Braam, G., & Reimsbach, D. (2019). Corporate governance and sustainable business
conduct—Effects of board monitoring effectiveness and stakeholder engagement on corporate
sustainability performance and disclosure choices. Corporate Social Responsibility and
Environmental Management, 26(2), 351-366. doi:https://doi.org/10.1002/csr.1687
- Mio, C., Fasan, M., & Rose, A. R. (2016). Owner's preferences for CEOS characteristics: Did the world
change after the global financial crisis? Corporate governance. The International Journal of
Business in Society, 16(1), 116-134.
- Muttakin, M. B., & Subramaniam, N. (2015). Firm ownership and board characteristics: do they matter
for corporate social responsibility disclosure of Indian companies. Sustainability Accounting,
Management and Policy Journal, 6(2), 138-165.
- Ntim, C. G. (2015). Board size, corporate regulations and firm valuation in an emerging market: A
simultaneous equation approach. International Review of Applied Economics, 29, 194-220.
- Ntim, C. G., Opong, K. K., Danbolt, J., & Thomas, D. A. (2012). Voluntary corporate governance
disclosures by post-apartheid South African listed corporations. Journal of Applied Accounting
Research, 13, 122-144.
- Nwaiwu, N. J., & Oluka, N. O. (2018). Environmental cost disclosure and financial performance of oil
and gas in Nigeria. International Journal of Advance Academic Research/ Financial
Management, 4. doi:ISSN: 2488-9849
- Oh, W. Y., Chang, Y. K., & Martynov, A. (2011). The effect of ownership structure on corporate social
responsibility: Empirical evidence from Korea. Journal of Business Ethics, 104(2), 283-297.
doi:https://doi.org/10.1007/s10551-011-0912-z
- Rettab, B., Brik, A. B., & Mellahi, K. (2009). A study of management perceptions of the impact of
corporate social responsibility on organizational performance in emerging economies: The case
of Dubai. Journal of Business Ethics, 18(10), 71-90.
- Reverte, C. (2012). Determinants of corporate social responsibility disclosure ratings by Spanish listed
firms. Journal of Business Ethics, 88(2), 351-366. doi::https://doi.org/10.1007/s10551-008-
9968-9
- Shafira, R. N., Azizah, S. N., Wahyuni, S., & Pramono, H. (2021). The Effect of Firm Size and Corporate
Governance Structure on Corporate Social Responsibility Disclosures. Muhammadiyah Riau
Accounting and Business Journal, 2(2), 163-169.
- Siegel, D. S., & Vitaliano, D. F. (2007). An empirical analysis of the strategic use of corporate social
responsibility. Journal of Economics & Management Strategy, 16(3), 773-792.
doi:https://doi.org/10.1111/j.1530-9134.2007.00157.x
Yıl 2021,
Cilt: 2 Sayı: 2, 72 - 82, 30.12.2021
Aderemi Olalere Adebayo
Felicia Oluremilekun Oladejı
Wasiu Adebayo Lamıdı
Kaynakça
- Abdulsalam, N. K. (2017). Firm characteristics and sustainability reporting of oil marketing companies
in Nigeria. Ph. D Thesis Usman Danfodio University, Sokoto.
- Abor, J., & Biekpe, N. (2007). Corporate governance, ownership structure and performance of SMEs in
Ghana: implications for financing opportunities. Corporate Governance. The International
Journal of Business in Society, 7(3), 288-300.
- Adams, R. (1997). Linking financial and environmental performance. Environmental Accounting and
Auditing Reporter, 2(10), 331.
- Amran, A., & Haniffa, R. (2011). Evidence in development of sustainability reporting: Case of a
developing country. Business Strategy and the Environment, 20, 141-156.
- Amran, A., & Susela Devi, S. (2008). The impact of government and foreign affiliate influence on
corporate social reporting: The case of Malaysia. Managerial Auditing Journal, 23(4), 386-404.
doi::https://doi.org/10.1108/02686900810864327
- Barnea, A., & Rubin, A. (2010). Corporate social responsibility as a conflict between shareholders.
Journal of Business Ethics, 97(1), 71–86.
- Berhad, F. G. (2016). Empowering sustainable value. Annual Integrated Report 2015.
- Brammer, S., & Millington, A. (2008). Does it pay to be different? An analysis of the relationship
between corporate social and financial performance. Strategic Management Journal, 29(12),
1325–1343.
- Branco, M. C. (2008). Social responsibility disclosure: A study of proxies for the public visibility of
Portuguese banks. The British Accounting Review, 40(2), 161-181.
doi::https://doi.org/10.1016/j.bar.2008.02.004
- Chen, J. C., & Roberts, R. W. (2010). Toward a more coherent understanding of the organization–
society relationship: A theoretical consideration for social and environmental accounting
research. Journal of Business Ethics, 97, 651-665.
- Dam, L., & Scholtens, B. (2012). Does ownership type matter for corporate social responsibility?
Corporate Governance. An International Review, 20(3), 233-252.
doi:https://doi.org/10.1111/j.1467-8683.2011.00907.x
- Dogan, Y., Ugulu, I., & Durkan, N. (2013). Wild edible plants sold in the local markets of Izmir, Turkey.
Pak. J. Bot, 45(S1), 177-184.
- Elmagrhi, M. H., Ntim, C. G., & Wang, Y. (2016). Antecedents of voluntary corporate governance
disclosure: A post-2007/08 financial crisis evidence from the influential UK Combined code.
Corporate Governance, 16(3), 507-538. doi::https://doi.org/10.1108/CG-01-2016-0006
- Fifka, M. S. (2013). Corporate responsibility reporting and its determinants—A review of the empirical
literature and a meta-analysis. Business Strategy and the Environment, 22, 1-35.
- Fung, S., & Tsai, S. C. (2012). Institutional ownership and corporate investment performance. Canadian
Journal of Administrative Sciences, 29, 348-365.
- Gamerschlag, R., Möller, K., & Verbeeten, F. (2011). Determinants of voluntary CSR disclosure:
empirical evidence from Germany. Review of Managerial Science, 5(1-3), 233-262.
doi:https://doi.org/10.1007/s11846-010-0052-3
- Hooghiemstra, R. (2012). What determines the informativeness of firms’ explanations for deviations
from the Dutch corporate governance code. Accounting and Business Research, 42, 1-27.
- Khan, A., Muttakin, M. B., & Siddiqui, J. (2013). Corporate governance and corporate social
responsibility disclosures: Evidence from an emerging economy. Journal of Business Ethics,
114(2), 207-223. doi:https://doi.org/10.1007/s10551-012-1336-0
- Khan, H. U. (2010). The effect of corporate governance elements on corporate social responsibility
(CSR) reporting: Empirical evidence from private commercial banks of Bangladesh.
International Journal of Law and Management, 52(2), 82-109.
- Mallin, C., & Ow-Yong, K. (2012). Factors influencing corporate governance disclosures: Evidence
from Alternative investment market companies in the UK. European Journal of Finance, 18,
515-533.
- Manning, B., Braam, G., & Reimsbach, D. (2019). Corporate governance and sustainable business
conduct—Effects of board monitoring effectiveness and stakeholder engagement on corporate
sustainability performance and disclosure choices. Corporate Social Responsibility and
Environmental Management, 26(2), 351-366. doi:https://doi.org/10.1002/csr.1687
- Mio, C., Fasan, M., & Rose, A. R. (2016). Owner's preferences for CEOS characteristics: Did the world
change after the global financial crisis? Corporate governance. The International Journal of
Business in Society, 16(1), 116-134.
- Muttakin, M. B., & Subramaniam, N. (2015). Firm ownership and board characteristics: do they matter
for corporate social responsibility disclosure of Indian companies. Sustainability Accounting,
Management and Policy Journal, 6(2), 138-165.
- Ntim, C. G. (2015). Board size, corporate regulations and firm valuation in an emerging market: A
simultaneous equation approach. International Review of Applied Economics, 29, 194-220.
- Ntim, C. G., Opong, K. K., Danbolt, J., & Thomas, D. A. (2012). Voluntary corporate governance
disclosures by post-apartheid South African listed corporations. Journal of Applied Accounting
Research, 13, 122-144.
- Nwaiwu, N. J., & Oluka, N. O. (2018). Environmental cost disclosure and financial performance of oil
and gas in Nigeria. International Journal of Advance Academic Research/ Financial
Management, 4. doi:ISSN: 2488-9849
- Oh, W. Y., Chang, Y. K., & Martynov, A. (2011). The effect of ownership structure on corporate social
responsibility: Empirical evidence from Korea. Journal of Business Ethics, 104(2), 283-297.
doi:https://doi.org/10.1007/s10551-011-0912-z
- Rettab, B., Brik, A. B., & Mellahi, K. (2009). A study of management perceptions of the impact of
corporate social responsibility on organizational performance in emerging economies: The case
of Dubai. Journal of Business Ethics, 18(10), 71-90.
- Reverte, C. (2012). Determinants of corporate social responsibility disclosure ratings by Spanish listed
firms. Journal of Business Ethics, 88(2), 351-366. doi::https://doi.org/10.1007/s10551-008-
9968-9
- Shafira, R. N., Azizah, S. N., Wahyuni, S., & Pramono, H. (2021). The Effect of Firm Size and Corporate
Governance Structure on Corporate Social Responsibility Disclosures. Muhammadiyah Riau
Accounting and Business Journal, 2(2), 163-169.
- Siegel, D. S., & Vitaliano, D. F. (2007). An empirical analysis of the strategic use of corporate social
responsibility. Journal of Economics & Management Strategy, 16(3), 773-792.
doi:https://doi.org/10.1111/j.1530-9134.2007.00157.x