Critical Factors towards Philanthropic Dimension of CSR in the Nigerian Financial Sector: The Mediating Effects of Cultural Influence

International Journal of Business and Innovation. Vol. 4, Issue 1, 2018

Title: Critical Factors towards Philanthropic Dimension of CSR in the Nigerian Financial Sector: The Mediating Effects of Cultural Influence

Author: Aminu Ahmadu Hamidu1
Md. Harashid Haron2
Azlan Amran3

Abstract
The purpose of the study is to examine the leading factors towards philanthropic dimension of corporate social responsibility in the Nigerian financial sector. The need to build corporate image, prompt managers towards prioritizing the philanthropic dimension of CSR. Satisfaction of stakeholder needs to reduce the pressure exerted on managers’ leads also to the assumption of more philanthropic activities. Within these set of circumstances, the objective of the study is to explore the possible predictive factors leading towards prioritization of philanthropic dimension of CSR by managers of the Nigerian financial sector. This study examined the relationships between philanthropic dimension of CSR, corporate image, stakeholder pressure and cultural influence. A total of 173 managers from the Nigerian financial sector responded to the survey instruments administered which later on was analyzed using partial least squares-structural equation modeling. The results revealed that corporate image and stakeholder pressure are influencing factors towards prioritization of the the philanthropic dimension of CSR, and are mediated by the role of cultural influence in the Nigerian context. This study highlights the prioritization of philanthropic dimension of CSR by managers of the Nigerian financial sector with respect to cultural influence and predictive factors like building a corporate image and reducing pressures from stakeholders

Keywords
Corporate social responsibility, corporate image, stakeholder pressure, philanthropic dimension, CSR in Nigeria

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