Open AccessCorporate Social Responsibilities and Firm Performance: A Comparative study of Banking and Non-Bank Sector in Nigeria
Author(s) -
Ogujiofor Magnus Nkemjika,
Ofor Theresa Nkechi
Publication year - 2017
Publication title -
international journal of management excellence
Language(s) - English
Resource type - Journals
ISSN - 2292-1648
DOI - 10.17722/ijme.v8i2.893
Subject(s) - corporate social responsibility , business , mandate , manufacturing sector , order (exchange) , accounting , statutory law , banking industry , finance , economics , public relations , labour economics , political science , law
The objective this study is to ascertain the relationship between CSR and performance. The study compared what is obtainable in the Nigerian banking sector and the Nigerian manufacturing sector. Ten firms were selected, five each from the aforementioned sectors. Ordinary least square statistical technique was employed for the study .Result shows that CSR has significant impact on the performance of both firms in the manufacturing and the banking sector. The study also reveals that manufacturing companies expend more on CRS activities than bank. The study recommended that statutory bodies should mandate banks to go beyond donation and look at other areas of CSR. It further recommended that managements of the two sectors should take advantage of CSR in order to enhance their corporate performance