Revisiting the State of Corporate Social Responsibility Disclosure in Nigeria

Babawande Sheba

Abstract


Disclosures on corporate social responsibility (CSR) remain a challenge for firms operating within Nigeria. This paper reviews the state of CSR disclosure and argues that for business attitudes toward such reporting to improve; efforts are needed to encourage firms’ engagement with reporting instruments. The importance of CSR disclosure was reviewed, focusing on priority areas for Nigeria and reporting guidelines that are available for firms to follow. It addresses developments made by firms in reporting environmental and social matters. A descriptive analysis of 175 listed firms on the Nigerian Stock Exchange in 2010-15 was performed to determine attitudes toward CSR related reporting, focusing on website content and the creation of a separate CSR/Sustainability report. CSR and Sustainability disclosure is under-developed with <10% of Nigerian firms producing a separate CSR/Sustainability report. Additional findings include the absence of a dedicated web page for CSR/Sustainability matters on many websites, while a small number of firms were found to have embraced related reporting on an annual basis. This work provides an overview of the state of CSR and sustainability disclosure in Nigeria and is useful for researchers and business practitioners in establishing the current status quo before embarking on future work. Website accessibility for 30 of the 175 firms surveyed was found to be an issue thus reducing the sample size to 145. The impact of this was assessed within this paper.   

Aus. Aca. Acc & Fin. Rev Vol 3(4), Oct 2017, P 179-188

Keywords


Corporate Social Responsibility; Nigeria; Disclosures; Sustainability; Corporate Social Responsibility Reporting

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