CORPORATE SOCIAL RESPONSIBILITY AND FINANCIAL PERFORMANCE OF LISTED CEMENT MANUFACTURING COMPANIES IN NIGERIA
The relevance of corporate social responsibility in corporate performance needs continuous reassessment for the validity or otherwise of the previous related studies. This informed the current study to empirically examine whether corporate social responsibility (CSR) has effect on financial perform...
Saved in:
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Kwara State University, Malete Nigeria
2024-10-01
|
| Series: | Malete Journal of Accounting and Finance |
| Subjects: | |
| Online Access: | https://majaf.com.ng/index.php/majaf/article/view/144 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Summary: | The relevance of corporate social responsibility in corporate performance needs continuous
reassessment for the validity or otherwise of the previous related studies. This informed the current
study to empirically examine whether corporate social responsibility (CSR) has effect on financial
performance of listed cement manufacturing companies in Nigeria. The study is based on ex-post
facto research design using secondary data. The study population consisted of three cement
manufacturing companies quoted on Nigerian Exchange Group. However, two of the three
companies formed sample size based on data availability, while data for the study were extracted
from the audited annual reports of the sampled cement companies. The data obtained were
analyzed with the use of descriptive statistics, correlation, and regression method, and it was
statistically observed that corporate social responsibility has a positive, but negligible effect on
return on asset. It was also observed that the effect of corporate social responsibility on earnings
per share is positive and substantial. It can be summarized that good corporate responsibility will
possibly improve the financial performance of a firm. It is therefore recommended that
organizations should engage in different philanthropic activities to continue to enjoy peaceful coexistence
with the members of the host community. Moreover, it is expected of every corporate
entity to have effective control measures in place to cushion the negative effect of its activities on
the operating environment. This will, however, impact positively on the firm’s performance
|
|---|---|
| ISSN: | 2735-9603 |