STAKEHOLDER THEORY AND CORPORATE SOCIAL RESPONSIBILITY: IMPLICATIONS FOR SUSTAINABLE CORPORATE GOVERNANCE IN NIGERIA.

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dc.contributor.authorAsonibare Adelowo Stephen
dc.contributor.authorDavid Oluwaropo Kehinde
dc.date.accessioned2026-04-23T08:36:03Z
dc.date.available2026-04-23T08:36:03Z
dc.date.issued2026-04-11
dc.description.abstractTraditionally, corporate governance has been centered around shareholder dominance, which prioritizes profit maximization over community return. However, the limitations of this approach are increasingly evident, particularly in emerging economies like Nigeria, where corporate failures, environmental degradation, and social conflicts highlight the need for broader governance rethinking, hence the stakeholder theory. Closely linked to stakeholder theory is Corporate Social Responsibility (CSR), which implements stakeholder-oriented governance. The study argues that sustainable corporate governance cannot be achieved through stakeholder paper approval or discretionary CSR practices. It further argues that although stakeholder interests and CSR are recognized, particularly in the Companies and Allied Matters Act, 2020 (CAMA), the commitments remain largely symbolic and weakly enforceable, thereby limiting their effectiveness in promoting sustainable corporate standards. Drawing on stakeholder theory, this study evaluates the continued dominance of shareholder-centred governance under the Nigeria’s governance regulatory framework. Using a doctrinal approach, this study examines how regulatory gaps, weak enforcement mechanisms, and Nigeria’s socio-economic context undermine meaningful stakeholder engagement and CSR implementation. It further explores the relevance of ESG principles, Industry 4.0 technologies, among others in strengthening transparency, accountability, and long-term value creation. It concludes that Sustainable corporate governance demands stakeholder inclusion, strong disclosure rules, and ethical leadership.
dc.identifier.citationUNIZIK Law Journal
dc.identifier.issn23215-702X
dc.identifier.urihttps://kwasuspace.kwasu.edu.ng/handle/123456789/6690
dc.language.isoen
dc.publisherFaculty of Law, UNIZIK
dc.relation.ispartofseriesVolume 22; No. 1
dc.titleSTAKEHOLDER THEORY AND CORPORATE SOCIAL RESPONSIBILITY: IMPLICATIONS FOR SUSTAINABLE CORPORATE GOVERNANCE IN NIGERIA.
dc.typeArticle
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