This paper aims to identify and analyze the neoliberal, Anglo-American corporate governance mechanisms which embed shareholder value in Nigeria, and assess how they constitute major “practical barriers” to effective corporate social responsibility (CSR) in the country. While some of these mechanisms operate internally – performance-related pay (executive remuneration) – the use of non-executive directors – others operate externally – the markets for corporate control and the stock markets.,The paper adopts the doctrinal approach through a critical evaluation of concepts. Using existing literature in the subject area, it evaluates the nature of these mechanisms and argues that their operations amount to “practical barriers” to effective CSR in the country.,The paper finds that the existence of these mechanisms incentivizes corporate managers to maximize shareholder value and raise the share price of corporations as high as possible. It also leads to the financialization of corporate governance, rent seeking and the pursuit of short-term profits by corporations. In this context, within the Nigerian corporate governance framework, the existence and operations of these mechanisms amount to “practical barriers” to effective CSR.,The paper offers a fresh insight into the existence and operations of the neoliberal corporate governance mechanisms which embed shareholder value. By critically assessing the operations of these mechanisms in the Nigerian situation, it extends the body of knowledge in this area by showing how they amount to practical barriers to effective CSR in the country.

中文翻译：

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新自由主义公司治理机制

本文旨在确定和分析将尼日利亚的股东价值嵌入到新自由主义的英美公司治理机制中，并评估它们如何构成该国有效企业社会责任（CSR）的主要“实践障碍”。尽管其中一些机制是内部运作的，例如与绩效挂钩的薪酬（执行酬金）；使用非执行董事；其他机制是外部运作的，即公司控制和股票市场。，本文通过严格的评估采用了理论方法概念。利用该主题领域的现有文献，它评估了这些机制的性质，并认为它们的运作构成了该国有效CSR的“实际障碍”。本文发现这些机制的存在激励了公司经理人最大化股东价值并尽可能高地提高公司股价。它还导致公司治理的金融化，寻租和公司追求短期利润。在这种背景下，在尼日利亚公司治理框架内，这些机制的存在和运作构成了有效企业社会责任的“实践障碍”。本文对嵌入股东价值的新自由主义公司治理机制的存在和运作提供了新的见解。 。通过对尼日利亚机制中这些机制的运作进行严格评估，它通过显示它们如何构成对该国有效企业社会责任的实际障碍，扩展了这一领域的知识体系。