COPORATE SOCIAL RESPONSIBILITY AND FINANCIAL PERFORMANCE OF QUOTED CONGLOMERATES IN NIGERIA
COPORATE SOCIAL RESPONSIBILITY AND FINANCIAL PERFORMANCE OF QUOTED CONGLOMERATES IN NIGERIA
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Date
2015-01
Authors
SHEHU, Abdulrahman
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Abstract
The study examined the impact of corporate social responsibility on the financial performance of Quoted Conglomerates in Nigeria. The research design adopted by the study is correlational and the population constitutes of the eight (8) conglomerate companies quoted on the Nigeria Stock Exchange as at 31st December 2011. Due to the data availability of the companies and the fact that they are few in number, the study uses census approach. The study uses secondary data and the instrument used for the collection of the data is documentation. The data used are extracted from the annual reports of the conglomerates, NSE factbooks and Daily official lists of the NSE official lists of the NSE. The data is for the period of 6 years ranging from 2006-2011. The study used Multiple Regression Model as the techniques of analysis using SPSS 16.0 software. The study found that two of the independent variables (i.e. ER and CP) have significant positive impacts and other one (i.e. EMS) negative impact. In line with the findings of the study, we conclude that corporate social responsibility plays a significant role on the profitability of conglomerates in Nigeria. The study therefore recommends that companies should embark on more rendering of social responsibility as this could leads to more profitability improvement. Regulatory authorities should come up with clearly defined regulation on how to go about social responsibility is
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CORPORATE SOCIAL RESPONSIBILITY AND FINANCIAL PERFORMANCE OF QUOTED CONGLOMERATES, CORPORATE SOCIAL RESPONSIBILITY AND FINANCIAL PERFORMANCE OF QUOTED CONGLOMERATES