Corporate social responsibility strategies in Nigeria: a tinged shareholder model

Adegbite, Emmanuel, Amaeshi, Kenneth, Nakpodia, Franklin, Ferry, Laurence, and Yekini, Kemi C. (2020) Corporate social responsibility strategies in Nigeria: a tinged shareholder model. Corporate Governance: international journal of business in society, 20 (5). pp. 797-820.

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This paper aims to examine two important issues in corporate social responsibility (CSR) scholarship. First, the study problematises CSR as a form of self-regulation. Second, the research explores how CSR strategies can enable firms to recognise and internalise their externalities while preserving shareholder value.


This study uses a tinged shareholder model to understand the interactions between an organisation's CSR approach and the effect of relevant externalities on its CSR outcomes. In doing this, the case study qualitative methodology is adopted, relying on data from one Fidelity Bank, Nigeria.


By articulating a tripodal thematic model - governance of externalities in the economy, governance of externalities in the social system and governance of externalities in the environment, this paper demonstrates how an effective combination of these themes triggers the emergence of a robust CSR culture in an organisation.

Research limitations/implications

This research advances the understanding of the implication of internalising externalities in the CSR literature in a relatively under-researched context - Nigeria.


The data of this study allows to present a governance model that will enable managers to focus on their overarching objective of shareholder value without the challenges of pursuing multiple and sometimes conflicting goals that typically create negative impacts to non-shareholding stakeholders.

Item ID: 63379
Item Type: Article (Research - C1)
ISSN: 1758-6054
Keywords: Nigeria, corporate social responsibility (CSR), shareholder primacy, corporate externalities, tinged shareholder theory
Copyright Information: © Emerald Publishing Limited. The author accepted manuscript is deposited under a Creative Commons Attribution Non-commercial 4.0 International (CC BY-NC) licence. This means that anyone may distribute, adapt, and build upon the work for non-commercial purposes, subject to full attribution. If you wish to use this manuscript for commercial purposes, please contact
Funders: The British Academy
Date Deposited: 03 Jun 2020 07:43
FoR Codes: 35 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 3507 Strategy, management and organisational behaviour > 350703 Disaster and emergency management @ 100%
SEO Codes: 91 ECONOMIC FRAMEWORK > 9199 Other Economic Framework > 919999 Economic Framework not elsewhere classified @ 100%
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