Corporate social responsibility exposure action on financial institutions in Ghana

Thumbnail Image
Journal Title
Journal ISSN
Volume Title
The objective of this study was to investigate the level of corporate social responsibility reporting among the financial institutions in Ghana. The study also sought to test association between place of origin of institution, listing on the GSE and corporate social responsibility disclosure. The study also examined the impact of firm characteristics on the extent of corporate social responsibility disclosure among the CSR reporting firms in Ghana. To achieve the said objectives, data on CSR disclosure and other firm characteristics was obtained from the websites of 69 financial institutions, some of which were listed on the Ghana Stock Exchange. The results suggested that a large number of the financial institutions did not disclose their CSR information online. Among those who disclosed, the majority of the information disclosed was on their company structure and governance structures. Most of the companies failed to provide information on certain vital CSR areas such as the environment and disability. The study also found no association between place of origin and CSR disclosure and between listing on the GSE and CSR disclosure. Using a logistic regression, the study found the number of female directors to positively and significantly impact on the likelihood of CSR disclosure. The study also found that having corporate governance and majority Ghanaian owners significantly impact on the extent of CSR information disclosure. The study therefore recommended to financial institutions to provide certain vital corporate social responsibility information on their sites. For example, information on how firms deal with physically challenged persons were mission from the websites. If they information provided an a website is taken as the actual CSR activities the firms were engaged in, then financial institutions in Ghana needs to do more.
A Thesis submitted to the School of Business, College of Arts and Social Sciences, Kwame Nkrumah University of Science and Technology in partial fulfillment of the requirement for the degree of Master of Business Administration (Accounting).