Socially responsible investment practices and implementation approaches: A case study of listed extractive firms in Ghana
Date
2023
Journal Title
Journal ISSN
Volume Title
Publisher
Cogent Business & Management
Abstract
We explore the socially responsible investment practices and imple mentation approaches of some extractive listed firms through the lens of
institutional theory. Using an interpretive case study approach with data col lected from interviews, observations, and archival documents, over 10 months,
we find that the SRI practices of the firms were in line with the SDGs.
Furthermore, we reveal that the case firms’ choice of practices along the
SDGs was because of the government’s drive for SRI practices in line with the
SDGs. We also observe that the government-dominated case firm used its SRI
practices to augment the developmental activities of the government. Finally,
we show that alien to literature, a multinational company implements its SRI
practices using the global approach, because of the pressure from its parent
company. Our empirical findings possess the rigour expected from qualitative
research. The empirical findings are credible, dependable, and confirmable. In
ensuring credibility, the interviews were recorded. However, detailed notes were
taken of the interviewees who refused to be recorded. The transcribed data
were resent to the interviewees to ensure what they said was accurately captured. Recruiting qualified assistants to undertake some interviews, provid ing in-depth descriptions of the research method and the analysis of the
findings from both the intra and cross-case perspective ensured that the find ings are dependable. Finally, the use of semi-structured interviews where
further clarity was sought when needed makes the empirical findings confirm able. Largely, our findings support the institutional theory, albeit with some
deviations.
Description
Research Article
Keywords
socially Responsible Investment Practices, Implementation approaches, extractive firms, developing economies, Ghana Stock Exchange, Ghana