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SOCIAL RESPONSIBILITY ACCOUNTING/ REPORTING ON
CORPORATE PERFORMANCE (A CRITICAL ANALYSIS)
CHAPTER ONE
INTRODUCTION
1.1 OVERVIEW OF THE STUDY
Companies
World Wide have been placed under increasing pressure by stakeholders to
perform business activities in a more socially responsible manner, this is
because government at the national and local levels experience shortage of
funds and a shrinking resource base whereby they cannot perform all functions
as expected. There is therefore pressure from multifarious stakeholders e.g.
labour, investors, customers, suppliers, communities, activist organization,
etcetera which makes it necessary for government to perform a balancing act in
this regard. Corporate bodies are encouraged to adopt and or expand efforts in
the social arena which leads to the concept of corporate social responsibility
(CSR) and the balancing between profit motives and the need to give back to
society. These balancing acts highlight the need for social accounting, which
can be described according to Jocelyn Martins as “Social accounting evolved
into a mechanism for identifying, measuring and reporting a company’s social
and environmental impacts where competitive and profitable enterprises are able
to make a long-term contribution to sustainable development by generation
wealth and jobs without compromising the social and environmental needs of
society. Government regulations and public awareness are external forces that
have increased the social responsibility of business. But business decisions
are within the companies. Two contrasting philosophies or models define the
range of management attitude toward social responsibility; viz- economic and
socioeconomic models.
According
to the traditional concept of business, a firm exist to produce quality goods
and services, earn a reasonable profit and to provide jobs. In line with this
concept the economic model of social responsibility holds that society will
benefit more when business is left alone to produce and market profitable
products that society needs. To the managers social responsibility invests in a
corporation to earn a return on their investment, not because the firm is
socially responsible and the firm is legally obligated to act in the economic
interest of its stockholders.
On
the other hand, socio economic model is of the view that the proponent has the
responsibility not only to the stockholders, but to customers, employers,
supplies and the general public. It places emphasis not only on the profit but
also on the impact of business decision on society.
1.2 STATEMENT
OF THE PROBLEM
Theoretically
and empirically speaking an appraisal of social responsibility accounting and
reporting on corporate performance in developing nations especially, Nigeria
has been lacking in the sociology of knowledge.
Although
social accounting literature has evolved considerably over the years, these
literatures tend to focus on developed economics and not on developing
economics like Nigeria. Apparently, in spite of growing interest for social
accounting practices, there are still myriad of problems that need in-depth
study. Chief amongst the problems are; difficulties in measuring social
externalities, definition problem of most of the social responsibility
accounting terms, presenting values and intentions without supporting details,
making inaccurate claims, reporting only good news, et cetera.
Although
technological improvements, new guidelines and standards enable solving these
problems, at present the social accounting practices are not desired level in
both developed and developed nations (especially developing ones) it is on this
basis that the researcher deems it necessary to investigate analytically the
impact of social responsibility accounting on corporate performance in Nigeria.
1.3 PURPOSE
OF THE STUDY
The
main purpose of the study is to examine the extent to which social
responsibility accounting and reporting has enhanced the performance of
corporate organization in Nigeria’s oil sector, however, the study will
specifically examine;
1. Corporate
attitude towards social, ethical and environmental issues as represented in the
texts of corporate reports.
2. The
managerial perceptions of corporate social responsibility reporting in Nigeria.
3. Specific
challenges militating against the implementation of corporate social
responsibility reporting in Nigeria.
4. To
make appropriate recommendations on the best way to improve on the current
problems militating against the development of corporate social responsibility
reporting in Nigeria.
1.4 RESEARCH
QUESTION
The
research questions posed in this research work comprise the following;
1. What
are corporate attitudes towards social, ethical and environmental issues as
represented in the texts of corporate reports.
2. What
re the managerial perceptions of corporate social responsibility reporting in
Nigeria?
3. What
are the specific challenges militating against the implementation of corporate
social reporting in Nigeria.
1.5 STATEMENT
OF HYPOTHESIS
The
following hypotheses will be tested in the course of this study;
H01: There is no
significant relationship between social reporting and the level of a firm’s
profitability.
1.6 DEFINITION OF TERMS
In
other to eliminate any form of confusion and facilitate better understanding,
various terminologies used in this research work are defined below;
Corporate Social Responsibility
(CSR)
This
is broadly about an organization’s acceptance of its responsibility towards its
key partners in society to account for, manage and report on the social impact
of its activities, on the society.
Stakeholders
This
refer to those people or groups who are either affected by or who can affect
the activities of an organization. They include people such as shareholders and
investors, employees, consumers and the general public.
Social Costs
This
is defined as the benefit the society is deprived of through the use of any
facility or input by a commercial entity.
1.7 ORGANIZATION
OF THE STUDY
The
study is divided into five chapters structured as follows:
Chapter One:
Contains introduction to the research work, made up of overview, statement of
the problem, purpose of the study, research questions, hypotheses., and
significance of the study, definition of terms, limitations and organization of
the study.
Chapter Two:
Contains a review of relevant literature concerning the study.
Chapter Three:
Covers the research methodology made up of research design, sampling procedure,
sample size determination, data collection methods, operational measure of the
variables and data analysis techniques.
Chapter Four:
This chapter deals with presentation and analysis of data collected through the
questionnaires. The hypothesis will also be tested in this chapter.
Chapter Five:
This will include; discussion, conclusion and recommendations.
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