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Article
Publication date: 8 January 2019

Lukman Raimi, AbdulGaniyu Omobolaji Adelopo and Hassan Yusuf

This study aims to empirically investigate the relationship between corporate social responsibility (CSR) and sustainable management of wastes and effluents (SMWE) in…

Abstract

Purpose

This study aims to empirically investigate the relationship between corporate social responsibility (CSR) and sustainable management of wastes and effluents (SMWE) in Lagos Megacity.

Design/methodology/approach

The paper adopts a quantitative research method, specifically the use of a Web-survey technique for eliciting responses from a cross-section of companies affiliated to the Lagos Chambers of Commerce and Industry (LCCI). From a target population of 2,300 companies, a sample of 92 companies was drawn using the sample determination formula of Parten (1950). The 92 sampled companies were randomly administered Web-based questionnaires through their official emails. Finally, the 56 responses received from the participating companies (corresponding to 61 per cent response rate) were analysed electronically and the results presented using descriptive and inferential statistics.

Findings

The results show strong positive relationships between CSR and advocacy on waste and effluents (0.7), environmental impact response (0.7), environmental sustainability policy (0.6) and preventive negative impact (0.6) with P < 0.05. However, weak positive relationships exist between CSR and monitoring mechanisms (0.3) and adequacy of infrastructure for wastes and pollutants management (0.4). Overall, there is a significant positive relationship between CSR and sustainable management of solid wastes and effluents in the sampled companies in Lagos.

Research limitations/implications

The research is limited to Lagos Megacity because it is the industrial and commercial hub of Nigeria. Besides, there are several industrial associations in Lagos, but the selected association was the LCCI with 56 sampled companies.

Practical implications

The research supports and validates the theory of planned behaviour (TPB), which explicates that performance behaviour of organisations is influenced by the behavioural intention and behavioural control. However, behavioural intention of organisations may be carried out, abandoned or revised based on ever changing circumstances or contexts.

Originality/value

The study bridges the gap between theory and practice of environmental CSR by enriching the understanding of academics and practitioners on CSR and environmental sustainability relationships in Lagos Megacity.

Details

Social Responsibility Journal, vol. 15 no. 6
Type: Research Article
ISSN: 1747-1117

Keywords

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Article
Publication date: 3 January 2019

Hassan Yusuf and Lukman Raimi

This study aims to examine the nature of relationship that exists between merger and acquisition (M&A) and banks’ asset turnover (AT) following M&As that took place during…

Abstract

Purpose

This study aims to examine the nature of relationship that exists between merger and acquisition (M&A) and banks’ asset turnover (AT) following M&As that took place during the 2004 and 2008 banking sector reforms.

Design/methodology/approach

Considering the fact that this study is empirical, the authors adopted the quantitative research method relying on financial industry data. Being a matched-sample comparison, the study evaluated whether the merged banks outperformed the stand-alone banks as a result of their involvement in M&As. Using data extracted from the annual financial reports of the banks, mean AT ratios were computed. Chow test for structural break, paired sample and independent sample t-tests were performed on the mean AT ratios to gauge the impact of M&A.

Findings

The findings suggest that there is no positive relationship between M&A and banks’ AT as either the AT ratios of the banks deteriorated or at best, did not improve significantly. Furthermore, the evidence suggests that the stand-alone banks outperformed the merged banks following M&As in Nigeria.

Practical implications

The major practical implication of this empirical study is that M&A has not been able to solve the fundamental problems of banks in Nigeria. Apart from improving their liquidity constraints, the unresolved problems of banks in Nigeria include poor corporate governance compliance, poor credit risk management policy and ineffective allocation of capital to businesses.

Originality/value

This study supports the Keynesian argument for effective regulation supervision and control of the economy in general and financial institutions.

Details

International Journal of Ethics and Systems, vol. 35 no. 1
Type: Research Article
ISSN: 0828-8666

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Article
Publication date: 30 July 2021

Lukman Raimi, Rabiu Olowo and Morufu Shokunbi

The growing adoption of sustainable finance for inclusive agribusiness requires a cross-country comparison. In this paper, a comparative discourse of sustainable finance…

Abstract

Purpose

The growing adoption of sustainable finance for inclusive agribusiness requires a cross-country comparison. In this paper, a comparative discourse of sustainable finance (SF) options for agribusiness transformation in Nigeria and Brunei is attempted; as well as examining the implications on entrepreneurship and enterprise development in both countries.

Design/methodology/approach

A mixed research method was adopted for this cross-country comparative analysis. To gain deeper insight into agribusiness and SF, the authors sourced the required data from scholarly articles, texts, World Bank data (2000–2016), national policy documents, working papers, national development plan reports, and other online resources on agribusiness and SF. The authors adopted mixed data (non-numeric and numeric data) because they allow for combining content analysis and secondary data in quantitative analysis (Williams and Shepherd, 2017). This mixed method approach follows a three-stage, namely: Data sourcing, Data development and conversion and Data analysis.

Findings

This discourse based on the mixed data produced four findings. Firstly, it was found that both countries have different statuses in the agribusiness sector, but Brunei had better growth performance in the crop, food, livestock, cereal production indices compared to Nigeria. Secondly, the challenges facing agribusiness in both countries include inadequate funding, misuse/mismanagement of land resources, deployment of extractive farming practices, application of ozone-depleting chemicals and pesticides among others have harmed the vegetation, the farmland, and the chemistry of the ocean resulting in low productivity. Thirdly, the SF options that are suitable for agribusiness transformation are green loans, green bonds, green credit, green investment funds, green mortgage scheme and other green financial support instruments given mostly as grants, subsidies and tax reliefs. The key guidelines for entrepreneurs seeking SF options for agribusiness are Principles 2, 4, 5, 6, 8, 9 and 10 of the EPs.

Research limitations/implications

The main limitation of the study is that the analysis and interpretation of the findings are based on descriptive statistics. However, future research should consider using rigorous econometric tests such as the Co-Integration Test, Test of Causality and Inferential Statistics that would enhance stronger generalisation and prediction.

Practical implications

The practical implication is that agribusiness transformation through sustainable finance options (SFOs) would bring about a structural change from the current subsistence agricultural practices to large-scale agriculture practices characterised by the deployment of agricultural information systems (AGRIS), precision agriculture and agricultural technologies. Flowing from the first implication, the nexus between agribusiness and SFOs will systematically improve agricultural productivity in the areas of crop production, fishing, livestock and forestry in both countries. Thirdly, an improved agribusiness would boost food production and availability thereby mitigating the rising trends in food insecurity, food inflation, food poverty, and ultimately will help actualize SDG 1(No poverty), SDG 2 (Zero Hunger), and SDG 3 (Good Health and Wellbeing).

Originality/value

The authors contribute to the literature on SF and agribusiness in emerging economies by identifying an inclusive strategy that matters for agribusiness transformation in high-income and low-income economies.

Details

World Journal of Science, Technology and Sustainable Development, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2042-5945

Keywords

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Article
Publication date: 8 July 2014

Lukman Raimi, Ashok Patel and Ismail Adelopo

Poverty is a plague which has continental manifestation, but its impact is heavily felt in several Muslim majority nations (MMNs), where unemployment, illiteracy, chronic…

Abstract

Purpose

Poverty is a plague which has continental manifestation, but its impact is heavily felt in several Muslim majority nations (MMNs), where unemployment, illiteracy, chronic diseases, food shortage, sectarian wars and wave of militancy are surging at alarming rates. The purpose of this paper is to develop a faith-based model (FBM) to complement the conventional poverty reduction models. Experiences have shown that FBMs find more acceptability among Muslim nations because they have theoretical and theological underpinnings from the Qur’an and Hadith, as opposed to conventional models that are often viewed with suspicion, sequel to Islamic revivalism.

Design/methodology/approach

This research adopts a qualitative research method relying on secondary data/information sourced from CIA Factbook, previous scholarly works, working papers, case studies and relevant internet resources. In line with methodological approach of qualitative research, the secondary data/information were subjected to content and thematic analyses (CTA) from which facts, figures and presumptions were derived to support the FBM.

Findings

The paper justified the plausibility of integrating corporate social responsibility (CSR), Waqf system (WS) and Zakat system (TZS) as FBM for poverty reduction, enterprise development and economic empowerment in MMNs.

Research limitations/implications

The gap left behind by the paper is for future researchers to carry out an empirical investigation on the viability or otherwise of the FBM. This could include the governance structure, operational modalities and regulatory frameworks that would enhance the functioning of the FBM.

Practical implications

FBM framework is practically a corporate social investment (CSI), which would be heavily funded by Zakat payers, CSR donations and Waqf. The funds would be deployed to poverty reduction in a number of ways ranging from training, micro-credit support for SMEs, apprenticeships, setting up technology business incubation centres, cluster development, infrastructural development in industrial parks, as well as providing welfare support services to the poor, marginalised communities and other economically disadvantaged groups.

Originality/value

The theoretical research is a contribution to theory and practice of CSR in the field of management and Islamic economics. It has developed a FBM for adoption by MMNs who are hesitant in adopting western model for fear of compromising their ethical values.

Details

World Journal of Entrepreneurship, Management and Sustainable Development, vol. 10 no. 3
Type: Research Article
ISSN: 2042-5961

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Article
Publication date: 2 March 2015

Lukman Raimi, Innocent Akhuemonkhan and Olakunle Dare Ogunjirin

This paper aims to examine the prospect of utilising corporate social responsibility and entrepreneurship (CSRE) as antidotes for mitigating the incidences of poverty…

Abstract

Purpose

This paper aims to examine the prospect of utilising corporate social responsibility and entrepreneurship (CSRE) as antidotes for mitigating the incidences of poverty, insecurity and underdevelopment in Nigeria. The paper derives its theoretical foundation from the stakeholder, instrumental and legitimacy theories, which all justify the use of CSRE for actualisation of Triple Bottom Line (i.e. the social, economic and environmental concerns of business organisations).

Design/methodology/approach

The study used the quantitative research method relying on the use of secondary data published by institutional bodies. The quantitative method entail a systematic extraction of reliable data on corporate social responsibility (CSR), insecurity, poverty and development from the publications of Office of the Millennium Development Goals in Nigeria, CLEEN Foundation, National Bureau of Statistics and Central Bank of Nigeria, respectively. For missing years, the authors improvised using projections as well as proxies. The extracted data, which spanned a period of 13 years, were subjected to econometric tests using SPSS, on the basis of which informed conclusions were drawn.

Findings

The first econometric result indicates a negative relationship between gross domestic product and poverty. The second result indicates that there is a positive significant relationship between gross domestic product and total crime rate. The third result indicates that there exists a positive relationship between gross domestic product and unemployment rate. The fourth result indicates that there is a negative relationship between gross domestic product and industrial growth rate. The last result indicates that there is a significant positive relationship between gross domestic product and CSR.

Research limitations/implications

The results of this research have macro-level application, hence the outcomes cannot be narrowed to any particular sector of the economy. A micro-level analysis across diverse sectors of the economy is recommended in future studies. The implication of this empirical research is that policymakers in the Nigerian private sector need to reinvent their CSR programmes as mechanisms for poverty eradication, entrepreneurship development (CSRE), dousing tension of restive youth, empowerment/support for security agencies for better crime prevention and for impacting on sustainable development.

Practical implications

In the face of dwindling financial resources in the treasury of governments, the reinvention of CSRE by private sector organisations as complementary mechanisms for combating social problems is becoming acceptable in both developed and developing nations. This paper therefore boldly recommends that policymakers reinvent CSRE as development mechanisms through a sound partnership between government, advocacy groups and business corporations in Nigeria.

Social implications

The paper explicates that CSR can indeed be reinvented by corporations as part of their social concerns to their operating environment instead of leaving all social problems to governments.

Originality/value

The research lends credence to stakeholder, instrumental and legitimacy theories of CSR. It also justifies the plausibility of CSRE, a novel concept being promoted in this research.

Details

Social Responsibility Journal, vol. 11 no. 1
Type: Research Article
ISSN: 1747-1117

Keywords

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Book part
Publication date: 24 June 2017

Lukman Raimi

The chapter discusses Corporate Social Responsibility (CSR) with appropriate theoretical framings with the intent of creating a deeper understanding and application of CSR…

Abstract

The chapter discusses Corporate Social Responsibility (CSR) with appropriate theoretical framings with the intent of creating a deeper understanding and application of CSR theories in Ibero-America’s hospitality industry. The research method is a qualitative research approach relying on critical review of scholarly articles on CSR theories. The sourced articles were critically discussed and analysed to fit the needs of the hospitality industry in Ibero-America. The shareholder/agency, stakeholder, legitimacy, instrumental, social contract, conflict, green and communication theories were identified as the eight dominant theories of CSR with diverse applications in the hospitality industry. The CSR theories discussed are not exhaustive, as there are emerging theories that explicate CSR in different contexts. The implication is that better understanding and application of CSR theories would strengthen conceptual, theoretical and empirical research in Ibero-America. The CSR theories are useful sources of information for practitioners for designing corporate CSR policies as well as providing scholars with sound theoretical framework for academic research. The chapter is a novel attempt at bridging theory and practice in the field of CSR, as well enriching the understanding of this concept among both practitioners and scholars in Ibero-America.

Details

Corporate Social Responsibility and Corporate Governance
Type: Book
ISBN: 978-1-78714-411-8

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Book part
Publication date: 3 September 2018

Lukman Raimi

Diverse understanding of corporate social responsibility (CSR) abounds among scholars and practitioners in Nigeria. The purpose of this chapter is to reinvent CSR in…

Abstract

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.

Details

Redefining Corporate Social Responsibility
Type: Book
ISBN: 978-1-78756-162-5

Keywords

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Article
Publication date: 10 November 2014

Innocent Akhuemonkhan, Lukman Raimi, Ashok M Patel and Adeniyi O. Fadipe

Entrepreneurship development in Nigeria requires the adoption and assimilation of enterprise development models from nations with replicable success stories. Technology…

Abstract

Purpose

Entrepreneurship development in Nigeria requires the adoption and assimilation of enterprise development models from nations with replicable success stories. Technology incubation centre (TIC) is one of the potent mechanisms that launched the “BRIC nations” – Brazil, Russia, India and China – to global prominence as the five biggest emerging economies. This paper attempts to unveil the potentials of TICs as novel tools for entrepreneurship development and actualisation of the Vision 20:2020 in Nigeria.

Design/methodology/approach

The authors adopt analytical and discursive approaches using qualitative and quantitative data sourced from Industrial policy documents, Goldman Sachs report, online databases of government agencies, Vision 20:2020 policy document and published articles on the subject matter. The generated data were subjected to content and thematic analyses, on the basis of which relevant conclusions were drawn.

Findings

The findings from the research indicate that there are 37 TICs in Nigeria with very weak socio-economic impact on job creation, wealth creation and industrial development in Nigeria. However, for the BRIC nations, adopted as comparative models, TICs have impacted positively on job creation, wealth creation and economic development of the five nations.

Research limitations/implications

The paper is essentially discursive and subjective. Further research on this subject matter should explore empirical analysis for an objective assessment of the situation.

Practical implications

This paper underscores the need for harmonisation of policy objectives with policy implementation. At present, there are gaps between TIC policy objectives and woeful performance of the 37 TICs in Nigeria.

Social implications

For Nigeria, to enhance job creation, wealth creation and economic development in the society, there is the need for functional TICs at local, institutional, regional, state and national levels.

Originality/value

The paper unveils the gap between economic theory and practical model implementation in developing economy (Nigeria). It is a major contribution to the functionalist and structuralist debates on why policies fail.

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Article
Publication date: 24 August 2012

Lukman Raimi and O.D. Ogunjirin

The purpose of this paper is to examine the possibility of fast‐tracking sustainable economic growth and development in Nigeria through mainstreaming of the benefits of…

Abstract

Purpose

The purpose of this paper is to examine the possibility of fast‐tracking sustainable economic growth and development in Nigeria through mainstreaming of the benefits of international migration and inflow of remittances from abroad.

Design/methodology/approach

The methodology employed in this research is the planned and systematic collection of qualitative and quantitative data on selected macro‐economic variables from the publications of the Central Bank of Nigeria (CBN) and National Bureau of Statistics (NBS) for a period spanning 36 years (1970‐2006). A multiple regression analysis was carried out, using E‐view statistical package, to validate the prospect of fast‐tracking sustainable economic growth and development in Nigeria through international migration and remittances links.

Findings

There are four findings from this research: there exists a negative relationship between the gross domestic product (GDP) and inflation rate (IR); there exists a negative relationship between GDP and net inflow (NI); there exists a positive relationship between the GDP and foreign private investment (FPI); and there exists a positive relationship between the GDP and external reserve (ER).

Practical implications

The major practical implication of this paper is that government, financial institutions, immigration departments and Nigerian professionals in Diaspora have a monumental role to play for positive, timely and accurate documentation of international migration data and inflow of remittances for developmental purposes.

Originality/value

This research paper supports the neo‐classical migration theory and segmented labour market theory in economics.

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Article
Publication date: 26 October 2012

Lukman Raimi

The purpose of this paper is to examine the effectiveness of faith‐based advocacy (FBA) as a tool for mitigating human trafficking in Nigeria, where trafficking has…

Abstract

Purpose

The purpose of this paper is to examine the effectiveness of faith‐based advocacy (FBA) as a tool for mitigating human trafficking in Nigeria, where trafficking has assumed epidemic dimension. The choice of faith‐based advocacy is based on the recognition of religion as a tool for shaping people's opinions and influencing policies in Nigeria.

Design/methodology/approach

The methodology employed in the paper is the narrative‐textual case study (NTCS) combined with qualitative data. The NTCS method utilises human trafficking data made available by the National Agency for the Prohibition of Trafficking in Persons (NAPTIP) for the periods 2004 to 2010.

Findings

From the qualitative data sourced, the paper argues that human trafficking in Nigeria can be mitigated through faith‐based advocacy as exemplified many years back by both Muslim and Christian groups for the abolition of slavery, a similar phenomenon to human trafficking. The paper concludes that the performance of the Nigerian government in the areas of prosecuting traffickers, protecting victims, and preventing human trafficking has been commendable, but could be better enhanced and energized through the power of faith‐based advocacy.

Originality/value

This paper recommends that governments of Nigeria should partner with religious authorities to jointly mitigate the scourge of human trafficking in Nigeria.

Details

Humanomics, vol. 28 no. 4
Type: Research Article
ISSN: 0828-8666

Keywords

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