Financial Slack and Upper Echelon Traits as Predictors of Corporate Philanthropy in Nigeria
Victor Chiedu Oba, Fodio Inuwa Musa

Abstract
This study examines financial slack and certain upper echelon traits as predictors of corporate philanthropy in Nigeria. It investigates whether financial slack (proxied by current and debt-equity ratios) and Upper echelon traits (denoted by female and non-executive directors) have a predicting power on philanthropy. The ordinary least squares (OLS) regression was used to estimate the relationship between philanthropy and the independent variables. Findings from the study show a positive impact of available financial slack and firm size on philanthropy. However, a neutral association was observed between potential financial slack, presence of female director, proportion of non executive directors and corporate philanthropy. The study recommends that firms’ philanthropic initiatives should be reflective of their corporate size and liquidity level.

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