Effect of Corporate Social Responsibility on Financial Performance of Quoted Oil and Gas Firms in Nigeria
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EFFECT OF CORPORATE SOCIAL RESPONSIBILITY ON FINANCIAL PERFORMANCE OF QUOTED OIL AND GAS FIRMS IN NIGERIA
Nestor Ndubuisi Amahalu1;Chijioke Louis Okudo2
1 Department of Accountancy, Nnamdi Azikiwe University Awka, Anambra State, Nigeria (firstname.lastname@example.org)
- Olabisi Onabanjo University, Ago-Iwoye, Ogun State, Nigeria (email@example.com)
This study ascertained the effect of Corporate Social Responsibility on Financial Performance of quoted oil and gas firms in Nigeria from 2009-2021. Specifically, this study ascertained the effect of Donation on Net Profit Margin, Return on Assets, Return on Equity of quoted Oil and Gas firms. This study employed ex-post facto research design. The sample size of this study consists of seven quoted oil and gas firms in Nigeria. Pearson Coefficient Correlation and simple linear regression analysis were employed via E-View 9.0. The study found a significant positive relationship between Net Profit Margin, Return on Assets, Return on Equity and Donations at 5% level of significance respectively. The implication of the findings is that CSR implementation maximizes future returns for oil and gas firms in Nigeria. It was recommended among others that Oil and Gas firms in Nigeria should make effort to increase their commitment to social responsibility activities such as community projects and environmental protection in order to improve financial performance.
Key words: Donations, Net Profit Margin, Return on Assets, Return on Equity