Corporate Social Responsibility (CSR) Perspectives of Leading Firms In Ghana, Corporate Governance

Abstract

Purpose – Corporate social responsibility (CSR) research has blossomed in this new millennium. This has been due to: the increasing concern expressed by policy makers about corporate social; responsibility; the pressure exerted on firms to demonstrate high ethical standards; and for developing countries, the increasing demands on their firms exporting to Europe and other western countries to document adherence to high ethical standards in order to be competitive. This study sought to ascertain and document the extent of recognition, nature and content of socially responsible actions by firms located in Ghana. Design/methodology/approach – The study used a sample of companies listed in the Ghana Club 100 database, an annual ranking of the most prestigious firms in Ghana. The study adopted an in-depth, exploratory and comparative approach in examining the CSR issues from the perspectives of local versus internationally-connected firms in Ghana. Findings – The key findings of the study were that, although local companies are familiar with the concept and do, indeed, practice some amount of CSR, they subscribe less to the contemporary notion of CSR; they are less strategic, less moral and ethical in their approach to CSR. Thus, internationally-connected Ghanaian firms seem to have a better grasp of the various dimensions of CSR and how these could be used to business and strategic advantage. Research limitations/implications – Future research indications might be the fashioning of a CSR typology for Ghanaian firms and an investigation of the relationship between CSR and financial performance. Originality/value – Reports findings in the first nation-wide study carried out in the area of CSR and will interest academics and practitioners working in and on the areas.