CORPORATE GOVERNANCE AND SOCIAL IMPACT IN NIGERIA

Roseline Chinasa Agbaraevoh 1 , John Uzoma Ihendinihu 2 and Ndukwe Orji Dibia 1
1 Department of Accounting, Abia State University. Uturu
agbararaevohrose@gmail.com and nodibia2006@yahoo.com
2 Department of Accounting Michael Okpara University of Agriculture, Umudike.
Ihendinihu.john@gmail.com

Business entities are expected to impact the society positively in order to continue to enjoy the
goodwill of the various stakeholders. Their social impact can be measured by the amount the
company spends on their corporate social responsibility, (CSR). This study used the CSR
donations as a measure of the social impact the firms exerts on the society. An OLS regression
analysis was run to ascertain how some components of corporate governance impacted the
society. The study surveyed twenty firms quoted in Nigerian Stock Exchange and covered a
period of 14 years from 2006-2019. The result shows that Board size (BS), CEO duality
(CEOD) and foreign directors (FDIR) influenced the amount the firms spent on social impact,
positively and significantly.
Key words: Corporate governance, CSR donations, social impact

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