Is the Bandwagon Bias Effect Theory Driving Institutional Investors Impact on Corporate Social Responsibility (CSR) Practices?

This paper employs the bandwagon bias effect theory to explain the influence of institutional investors on CSR Practices. This study focuses on Nigeria and uses the bandwagon bias theory to explore how institutional investors are being influenced by peer and society pressure to go along with the crowd to conform to CSR industrial standards. Using the balanced panel data of 174 PLCs from 2003 to 2009, the study investigates the institutional investors influence on CSR. The findings indicate a significant manifestation of relationship between them, which implies that the bandwagon effect on firm’s CSR engagement exists

The Role of Board in Corporate Social Responsibility: A Normative Compliance Perspective

Purpose: This paper focuses on the board’s influence on Corporate Social Responsibility (CSR) among Public Liability Companies (PLCs). The paper uses normative compliance theory to develop the theoretical framework thereby advocating and complementing other theories CSR. Methodology: The paper adopts balanced random effect regression model to estimate the relationship between board characteristics (such as board composition, diversity and size on CSR, while controlling for firm size, sector and risk). This involved the use of balanced panel data of 174 PLCs from 2003 to 2009. The random effect estimator is used to test the specific effects of the board composition, board size and board diversity on CSR of PLCs in Nigeria. The data are obtained from Nigerian Stock Exchange (NSE) fact book from 2003 to 2009. Findings: The paper found that Non-executive directors (NEDs) and board size are positively significantly correlated with CSR, while the executive director was negative and significantly related with CSR. Originality: The testing of the theory in the context of Nigeria contributes to the body of knowledge on sub-Sahara Africa, particularly Nigeria which offers a developing country perspective. The paper explores the relationship between board characteristics and CSR thereby contributing to the governance processes of listed companies and how good governance should be encouraged by understanding the board dynamics. Study Contribution: The implication is that, for managers and corporations focusing on shareholder interest, must also acknowledge that the society wants companies to accommodate multiple stakeholders interest for them to compete and survive in the long run. Social Implication: The social implications for companies to understand that business and the society are interwoven. Also efforts should be made by the board and companies to be morally and socially responsible to the society. Limitations: The data employed for this paper is majorly limited to listed companies on the NSE and the study covers only firms and industrial sectors within a single country but do not cover country to country differences or factors. It nevertheless presents implications for understanding CSR challenges in developing markets and provides insights into how to structure the board of listed companies. Finally, we hope this paper encourages future studies on the board dynamics and social performance of companies

The role of auditors in the context of Nigerian environment

The objective of this study was to provide evidence of the challenges and barriers affecting the role of auditors and auditors’ independence in Nigeria. A number of studies have been done on auditor’s independence but little attention is given to the pressures faced by auditors that affect their independence. This study adopts a qualitative method and reports on the barriers that affect auditor’s independence. Based on the interview with 32 staff that are either auditors or have come in contact with auditors during their course of work, this study identifies the barriers that affect auditors’ independence. These barriers include time pressure to complete tasks, management interest, incentives given to auditors by management, bribery and the level of corruption in the society, and the legal framework

COVID-19 in cardiac arrest and infection risk to rescuers : a systematic review

Background There may be a risk of COVID-19 transmission to rescuers delivering treatment for cardiac arrest. The aim of this review was to identify the potential risk of transmission associated with key interventions (chest compressions, defibrillation, cardiopulmonary resuscitation) to inform international treatment recommendations. Methods We undertook a systematic review comprising three questions: (1) aerosol generation associated with key interventions; (2) risk of airborne infection transmission associated with key interventions; and (3) the effect of different personal protective equipment strategies. We searched MEDLINE, Embase, Cochrane Central Register of Controlled Trials, and the World Health Organization COVID-19 database on 24th March 2020. Eligibility criteria were developed individually for each question. We assessed risk of bias for individual studies, and used the GRADE process to assess evidence certainty by outcome. Results We included eleven studies: two cohort studies, one case control study, five case reports, and three manikin randomised controlled trials. We did not find any direct evidence that chest compressions or defibrillation either are or are not associated with aerosol generation or transmission of infection. Data from manikin studies indicates that donning of personal protective equipment delays treatment delivery. Studies provided only indirect evidence, with no study describing patients with COVID-19. Evidence certainty was low or very low for all outcomes. Conclusion It is uncertain whether chest compressions or defibrillation cause aerosol generation or transmission of COVID-19 to rescuers. There is very limited evidence and a rapid need for further studies

Association between vitamin D supplementation or serum vitamin D level and susceptibility to SARS-CoV-2 infection or COVID-19 including clinical course, morbidity and mortality outcomes? A systematic review

Objective To systemically review and critically appraise published studies of the association between vitamin D supplementation or serum vitamin D level and susceptibility to SARS-CoV-2 infection or COVID-19, including clinical course, morbidity and mortality outcomes. Design Systematic review. Data sources MEDLINE (OVID), Embase (OVID), Cochrane Central Register of Controlled Trials, MedRxiv and BioRxiv preprint databases. COVID-19 databases of the WHO, Cochrane, CEBM Oxford and Bern University up to 10 June 2020. Study selection Studies that assessed vitamin D supplementation and/or low serum vitamin D in patients acutely ill with, or at risk of, severe betacoronavirus infection (SARS-CoV, MERS-CoV, SARS-CoV-2). Data extraction Two authors independently extracted data using a predefined data extraction form and assessed risk of bias using the Downs and Black Quality Assessment Checklist. Results Searches elicited 449 papers, 59 studies were eligible full-text assessment and 4 met the eligibility criteria of this review. The four studies were narratively synthesised and included (1) a cross-sectional study (n=107) suggesting an inverse association between serum vitamin D and SARS-CoV-2; (2) a retrospective cohort study (348 598 participants, 449 cases) in which univariable analysis showed that vitamin D protects against COVID-19; (3) an ecological country level study demonstrating a negative correlation between vitamin D and COVID-19 case numbers and mortality; and (4) a case–control survey (n=1486) showing cases with confirmed/probable COVID-19 reported lower vitamin D supplementation. All studies were at high/unclear risk of bias. Conclusion There is no robust evidence of a negative association between vitamin D and COVID-19. No relevant randomised controlled trials were identified and there is no robust peer-reviewed published evidence of association between vitamin D levels and severity of symptoms or mortality due to COVID-19. Guideline producers should acknowledge that benefits of vitamin D supplementation in COVID-19 are as yet unproven despite increasing interest

The effect of culture on Corporate Governance Practices in Nigeria

This study focuses on the effect of culture on the application of corporate governance practices in Nigeria. Corporate governance has been receiving serious attention in emerging markets over the past two decades. But relatively little attention has been given to the study on corporate governance in a country study. The current situations in Nigerian public and private sectors such as the corporate scandal resulting from Lever Brothers Nigeria plc, Siemens, Shell, Halliburton, and Cadbury Nigeria plc, have shown that the issue of fraud, corruption, and corporate scandals cannot be overlooked. Most top management, as this study argues, bring in beliefs acquired from their early childhood into their senior management roles and responsibilities. This study adopts a grounded theory and reports on the effect of culture on the implementation of corporate governance in Nigeria. Based on the interview with 32 staffs, this study identifies the effect of culture that shapes corporate governance and they include abuse of power by top management, weak legal framework, poor recruitment and ineffective control. Although having efficient corporate governance is worth pursuing, this depends on the power of top management, the strength of internal control procedures and the legal framework put in place by management

Regulatory multiplicity and conflict : towards a combined code on corporate governance in Nigeria

Given the multiplicity of codes designed to regulate different stakeholders in terms of promoting good corporate governance, this paper examines areas of conflicts among the various codes and the associated implications for corporate governance practices and regulatory compliances by public-listed Nigerian firms. Using the conflict-signalling theory for developing the conceptual framework, this study examines the proliferation of codes in Nigeria, through a mixed method approach to provide an exploratory account of the implications of corporate governance regulatory multiplicity. Evidence suggests the presence of conflict among the various codes which contributes to reduced compliance by firms and ineffective enforceability by regulatory agencies, which both impede good corporate governance in Nigeria. The findings advance conflict-signalling theory as an important framework for understanding the implications of the conflicts arising from the multiplicity of codes

Corporate social responsibility initiatives in Nigeria

Corporate Social Responsibility (CSR) initiatives in Nigeria originated from the practices of Multinational companies (MNCs) operations in the extraction sectors of the Nigerian economy, especially in the oil sector. Their operations in communities resulted in CSR breaches such as oil spillages, gas flaring, militancy/community agitations and dumping of toxic waste materials in rivers. These activities destroyed the sources of income for the communities which are mainly farming and fishing, leading to widespread poverty and agitation from the communities. Cumulatively, these raised concerns about the role of businesses in the Nigerian society. Apart from the activities of MNCs, the failure by successive Nigerian governments to fulfil their mandatory obligation of providing social amenities for communities has made MNCs to become quasi-government with community depending and targeting MNCs to solve their economic problems. Government from all levels, have failed to offer solutions (such as building infrastructures, roads, medical equipment and schools). This is largely due to corruption, weak institutional framework, lack of transparency and accountability among public officials and bad governance among other issues. As a result, CSR initiatives in Nigeria have not been strategic, in a way which provides a thorough engagement of businesses in society and nation building, but have been culturally oriented, reflecting the religion, ethnicity, traditions and communal lifestyle of the people which involves sharing, togetherness and consensus. As such CSR initiatives in Nigeria have been mostly discretionary and philanthropic, characterised by donations, charities and community developments. Most corporate entities such as MNC and financial institutions are taking CSR initiatives seriously. Some have CSR departments and publish their environmental/CSR reports in addition to their annual reports. Their CSR initiatives involve mostly sponsorship in sports, beautification of roads, giving donations and project implementations. Some of these projects include the provision of borehole water, youth empowerment, schools and healthcare centres for the communities. This chapter will explore the perception of CSR as well as the key CSR initiatives in Nigeria, in order to strengthen the understanding of the concept as well as to encourage responsible behavior by large and small businesses in the country. In doing this, it will analyze the institutional determinants of effective CSR in Nigeria. This is a much needed study in Africa’s biggest economy