Corporate Social Responsibility (CSR): Stakeholders’Perception of Foreign Corporation in Ghana

Abstract

The study investigated the perception of Ghanaian stakeholders of the nature of CSR expected of foreign corporations, operating in Ghana. It is and empirical survey of opinion and perception, data for which was collected using questionnaires distributed to stakeholders. The operational data within the questionnaires were collected on a Likert scale of 5-1 (for strongly agree to strongly disagree) while relevant options were provided for demographic questions. Descriptive statistics like Mean, Median and Standard Deviation were computed for the operational data and Wilcoxon Sign Ranked Test was used to analyse the grouped data relevant to testing the hypotheses. The study found that stakeholders in Ghana are mindful of CSR of foreign corporations and they expect the corporations to be responsible and responsive. Also, the study showed that ethical, legal, environmental and corporate citizenship are highly favoured by Ghanaian stakeholders, while philanthropy is the least favoured. Specifically, quality and quantity of goods and services at a fair price, reward and welfare for employees topped the list favoured priorities, while stakeholders less favoured participation by foreign companies in philanthropy and politics and public policy. The study thus recommended a better focus on the favoured items.