Corporate social reporting of leading rural banks in Ghana

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Corporate social responsibility (CSR) has been identified to be increasingly significantly in this new millennium. This has been observed to be happening as a result of the increasing concern expressed by policy makers and society about corporate social responsibility. The study examines the extent of corporate social reporting by Ghanaian financial institutions with a case of leading rural banks in Ghana. These banks are Juaben, Nwabiangya, Odotobiri and Amansie west rural banks, Atwima Kwanwoma, and Adansi rural banks. The study uses a sample of financial institutions listed in the Ghana Club 100 database, an annual ranking of the most prestigious firms in Ghana, precisely the years 2011 to 2013, annual reports. The study adopts an in-depth assessment and descriptive in comparative approach in examining the CSR reporting issues from the perspectives of the selected rural banks as against selected commercial banks listed on Ghana stock exchange. The findings shows that, as adapting Alex Douglas et al 2004 proposed four-state framework for measuring corporate social responsibility reporting to argue about an excellent organization or organization with total quality management. From the reflection of their social responsibility activities through their annual reports and websites in order to position them on the framework, the analysis shows that rural banks are well behind the commercial banks with regard to the quality and quantity of social disclosure in their annual reports. Also from the research, the rural banks disclose a greater volume of social information on their Web sites than in their annual reports. The study therefore recommends, they should give detail reports on their CSR to attract media coverage, external grants, and potential customers and to be seen as excellent organization.
A Thesis submitted to the Department of Accounting and Finance, Kwame Nkrumah University of Science and Technology in partial fulfillment of the requirements for the degree of Master of Business Administration (Finance Option),