This article was originally published as: Effects of Corporate Social Responsibility on Financial Performance of Manufacturing Companies in Nigeria
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Abstract
This study investigated the effect of corporate social responsibility on financial performance of quoted manufacturing companies in Nigeria. Specifically, the study assessed the effect of corporate social responsibility on the financial performance (return on assets, earnings per share, dividend per share and return on equity) of listed companies in Nigeria. The study used secondary data obtained from the company’s annual reports for the period of 5years (2016 to 2020). The conclusion of the work is that corporate social responsibility played a significant role in enhancing the financial performance of quoted manufacturing firms. This study thereby concludes that, manufacturing firms should give enough attention to their corporate social responsibility in order to enhance their overall financial performance. The study hereby concluded that; Government needs to put machinery in place to monitor firms’ investment in CSR so as to serve as motivation for their involvement in social responsibility activities, particularly in their immediate environment; CSR projects should be well structured and implemented for maximum effect. This would enhance the well being of the beneficiaries; Companies should liaise with community head to identify areas or opportunities available to them to better the lives of the people through the provision of social amenities. The government should come up with clearly defined regulation on how to go about social responsibility issues of the companies and should ensure its full implementations.
Authors
- Adetosoye Kayode Solomon Kayode Solomon (Ahmadu Bello University Zaria)
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