Corporate Social Responsibility and Financial Performance of Listed Cement Manufacturing Companies in Nigeria
Year: 2024
Type: article
Abstract: The relevance of corporate social responsibility in corporate performance needs continuousreassessment for the validity or otherwise of the previous related studies. This informed the currentstudy to empirically examine whether corporate social responsibility (CSR) has effect on financialperformance of listed cement manufacturing companies in Nigeria. The study is based on ex-postfacto research design using secondary data. The study population consisted of three cementmanufacturing companies quoted on Nigerian Exchange Group. However, two of the threecompanies formed sample size based on data availability, while data for the study were extractedfrom the audited annual reports of the sampled cement companies. The data obtained wereanalyzed with the use of descriptive statistics, correlation, and regression method, and it wasstatistically observed that corporate social responsibility has a positive, but negligible effect onreturn on asset. It was also observed that the effect of corporate social responsibility on earningsper share is positive and substantial. It can be summarized that good corporate responsibility willpossibly improve the financial performance of a firm. It is therefore recommended thatorganizations should engage in different philanthropic activities to continue to enjoy peaceful coexistencewith the members of the host community. Moreover, it is expected of every corporateentity to have effective control measures in place to cushion the negative effect of its activities onthe operating environment. This will, however, impact positively on the firm’s performance
Author: Adebowale OGUNSOLA
Institutions: Kogi State University, Kogi State University, Kabba
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W6980790969
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