Corporate Social Responsibility and Performance of Nigerian Quoted Firms: An Empirical Study

Abstract

Purpose of the article: To examines the effect of corporate social responsibility on performance of Nigerian quoted firms. Methodology/methods: The study applies the survey research method, carrying out a crosssectional analysis of one hundred and fifty (150) firms quoted on the Nigerian Stock Exchange. The model was specified and analysed using the binary logistic regression analysis. Scientific aim: To examine the effect of corporate social responsibility on firm profitability, to evaluate the effect of corporate social responsibility on return on equality, and to assess the effect of corporate social responsibility on market success in Nigeria. Findings: The results revealed that corporate social responsibility (CSR) exerts a positive and statistically significant effect on firm profitability (PF), return on equity (ROE) and market success (MS) in Nigeria. Conclusions: Based on the findings, we concluded that corporate social responsibility (CSR) has a significant influence on firm profitability (PF), return on equity (ROE) and market success (MS). Thus, the study recommends among others that corporate firms in Nigeria should intensify efforts to increase their commitment to social responsibility in order to create good image in the mind of their host communities.