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An efficient corporate social responsibility (CSR) framework in many economies has been linked with human capital development, social and financial inclusion, environmental protection and better stakeholder management. This article examines the level of efficiency of the CSR framework in Nigeria; it underscores the developmental potentials of CSR practices within the Nigerian business community. However, a prevailing trend of haphazard and sometimes dodgy CSR practices by free riding rogue companies mars such potentials. Underpinning these dodgy practices has been a CSR ‘business case’ argument coupled with dysfunctional business (corporate) law assumptions among other causative factors. The article appraises the implications of these causative factors and towards minimising the haphazard practices, proposes corporate law reforms through which the Nigerian CSR framework may become more effective.

Many corporations engage in corporate social responsibility (CSR) activities voluntarily, but there is an ongoing debate about whether the government should intervene in CSR, particularly in countries with challenging institutional contexts. While some have argued that CSR should remain a discretionary exercise, as any attempt to make CSR mandatory through any form of state intervention will negate the meaning and objectives of CSR. However, drawing on the institutional theory, this chapter argues for the need to have some form of legislated CSR for banks operating in countries with challenging institutional contexts. The chapter further acknowledges that a universal CSR framework would be difficult to achieve due to differences in institutional contexts between countries; consequently, the nature, scope, and application of CSR legislation would vary significantly amongst countries as CSR is context dependent. Nonetheless, given the crucial role banks plays in society besides acting as the country's payment system, banks also transform illiquid liabilities into liquid assets, therefore making the banks the drivers of national economic developments globally. Governments in developing and emerging markets (DEMs) should ensure that banks' CSR initiatives are not only meaningful but also impactful by implementing a limited legislated CSR framework. This framework would require banks to establish a CSR committee of the board, make mandatory non-financial disclosures on their CSR activities in their Annual Reports, provide mandatory CSR continuous professional development (CPD) training for bankers, and mandate banks to contribute a certain percentage of their yearly profits before tax to agreed CSR initiatives, among other requirements.

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

Diverse understanding of corporate social responsibility (CSR) abounds among scholars and practitioners in Nigeria. The purpose of this chapter is to reinvent CSR in Nigeria through a deeper understanding of the meaning and theories of this nebulous concept for better application in the industry. The qualitative research approach is adopted, relying on critical review of scholarly articles on CSR, website information of selected companies and institutional documents. It was found that there are diverse meanings of CSR in the reviewed literature, but the philanthropic initiatives and corporate donations for social issues are the common CSR practices in Nigeria. Besides, the eight dominant theories of CSR that find relevance for applications in the industry are shareholder/agency, stakeholder, legitimacy, instrumental, social contract, conflict, green and communication theories. The implication of the discourse is that better understanding and application of CSR theories would strengthen conceptual, theoretical and empirical research in the field of CSR. Besides, CSR theories are useful sources of information for practitioners for designing social responsibility policies and practices as well as for providing scholars with sound theoretical framework for academic research.

The purpose of this paper is to examine the extent to which the corporate social responsibility (CSR) law will help combat money laundering in the United Arab Emirates (UAE).

The paper will first focus on examining whether money laundering and CSR are compatible. Such an analysis will then inform decisions on whether to include anti-money laundering in CSR disclosure requirements.

Key findings from the analysis have shown that the UAE CSR law does not explicitly mention money laundering as part of CSR disclosure requirements. Anti-money laundering (AML) and CSR are compatible and convergence, but money laundering is not yet an integral element of CSR disclosure requirements.

There are no clear mechanisms or provisions under the UAE CSR law on how money laundering can be included in CSR disclosure requirements, whether voluntary or mandatory. A pressing challenge now is whether the UAE should regulate AML/combatting the financing of terrorism disclosures under the CSR law. The main concern is that such a move could make mandatory disclosure another technical and regulatory requirement that UAE business must comply, which will be inimical to fostering a strong CSR culture.

Corporate social responsibility is one of the earliest and key conceptions in the academic study of business and society relations. This article examines the future of corporate social responsibility. Bowen's (1953) key question concerned whether the interests of business and society merge in the long ran. That question is assessed in the present and future contexts. There seem to be distinctly anti‐responsibility trends in recent academic literature and managerial views concerning best practices. These trends raise significant doubts about the future status of corporate social responsibility theory and practice. The vital change is that a leitmotif of wealth creation progressively dominates the managerial conception of responsibility. The article provides a developmental history of the corporate social responsibility notion from the Progressive Era forward to the corporate social performance framework and Carroll's pyramid of corporate social responsibilities. There are three emerging alternatives or competitors to responsibility: (1) an economic conception of responsibility; (2) global corporate citizenship; and (3) stakeholder management practices. The article examines and assesses each alternative. The article then assesses the prospects for business responsibility in a global context. Two fundamentals of social responsibility remain: (1) the prevailing psychology of the manager; and (2) the normative framework for addressing how that psychology should be shaped. Implications for practice and scholarship are considered.

The preceding article, “The Social Responsibility of Corporate Management: A Classical Critique,” argues that the Shareholder Theory, which the authors refer to as the “Friedman Paradigm” represents the only intellectually and ethically meritorious model for assessing corporate social responsibility. This response argues that the 19th Century Shareholder Theory is based upon numerous factual and legal inaccuracies and fictions when evaluated in the context of the modern era. Requiring that management serve only the interests of the shareholders is morally untenable. The authors’ assertion that the competing theory, The Stakeholder Theory, is unworkable is based upon both a misunderstanding and misinterpretation of the theory. Refinements and clarifications about who qualifies as a stakeholder make the Stakeholder Theory both workable and a very useful way to improve corporate governance. Now is the time to apply the Stakeholder Theory as part of the ongoing process of improving the moral and social responsibility of corporation management.