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Corporate Social Responsibility Strategies in Nigeria: A Tinged Shareholder Model

Adegbite, E.; Amaeshi, K.; Nakpodia, F.; Ferry, L.; Yekini, K.C

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E. Adegbite

K. Amaeshi

K.C Yekini


Purpose – 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. Design/methodology/approach – 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. Findings – 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. Originality/value – 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.


Adegbite, E., Amaeshi, K., Nakpodia, F., Ferry, L., & Yekini, K. (2020). Corporate Social Responsibility Strategies in Nigeria: A Tinged Shareholder Model. Corporate Governance, 20(5), 797-820-820.

Journal Article Type Article
Acceptance Date Apr 16, 2020
Online Publication Date May 6, 2020
Publication Date 2020
Deposit Date Apr 21, 2020
Publicly Available Date Apr 21, 2020
Journal Corporate governance.
Print ISSN 1472-0701
Publisher Emerald
Peer Reviewed Peer Reviewed
Volume 20
Issue 5
Pages 797-820-820
Public URL


Accepted Journal Article (555 Kb)

Publisher Licence URL

Copyright Statement
This article is made available under a Creative Commons Attribution Non-commercial International Licence 4.0 (CC BY-NC 4.0) and any reuse must be in accordance with the terms outlined by the licence.

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