The literature reviewed is premised on the theory that corporations do not make decisions, but managers do, and managers are likely to be influenced by the socioeconomic environment of the region in which they operate and/or by the people with whom they interact. To provide a structure to our review, we identify social capital, religiosity, gambling norms, and corruption culture, as four constructs of local social norms and link these with financial reporting and external auditing, financial, investment, and dividend decisions, capital market consequences and finally, corporate governance and corporate social responsibility behavior of firms.

Discuss Social Capital and Social Responsibility theory in Chapter 4 relying on the below reference

Al-Hadi, A., & Habib, A., Costa, M., & Al-Hadi, A. (2021). Consequences of local social norms: A review of the literature in accounting, finance, and corporate governance. Finance, and Corporate Governance (June 16, 2021).

Discuss at least 3 theories in the paper that are used in Social Capital and CSR. (6 marks)

Discuss at least TWO measures for measuring Social norms.

please answer the questions relying on the references mentioned . (4 marks)