EFFECT OF BOARD SIZE AND CHIEF EXECUTIVE DUALITY ON CORPORATE SOCIAL RESPONSIBILITY DISCLOSURE OF QUOTED BREWERY COMPANIES IN NIGERIA

Uche Okoro Orji 1 , John U. Ihendinihu 2 , Ndukwe O. Dibia 3
1&3 Department of Accountancy,
Faculty of Business Administration
Abia State University, Uturu, Nigeria.
ucheorji4real@yahoo.com & nodibia2006@yahoo.com
And
2 Department of Accounting,
College of Management Sciences,
Michael Okpara University of Agriculture, Umudike
ihendinihu.john@gmail.com

This study examines the effect of Board size and Chief Executive Officer (CEO) duality on
Corporate Social Responsibility Disclosure of quoted brewery companies in Nigeria. The
intention is to determine the causal link between identified predictors and corporate social
performance disclosures of listed entities in the Nigerian brewery industry. Ex post facto
research design was adopted and panel data on the two firm- specific characteristics extracted
from published annual financial statements of selected firms for the period 2009 to 2018.
Content analysis of the annual accounts was conducted using a validated Corporate Social
Responsibility Disclosure Index (CSRDI). The data collected were analysed using Panel Vector
Autocorrelation (Panel VAR) Model. Results reveal that board size has a positive but
insignificant effect on CSR disclosure level and also that CSRDI responds positively to the
shock of board size, while CEO duality indicates an inverse but insignificant association with
CSR disclosure and also that CSR Disclosure responds negatively and insignificantly to the
shock of CEO duality. Based on the outcomes from the research, the paper concludes that the
identified firm characteristics are critical to corporate social performance and recommends
that large and experienced persons should be put on the boards, while the position of the Chief
Executive Officer should be separated from that of the Board Chairman for effective checks
and balances in the management of corporate entities in the sector.
Keywords: Corporate Disclosure, Board Size, Chief Executive Officer Duality, Corporate
social responsibility

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