Corporate Social Responsibility and Financial Sustainability of Oil and Gas Firms in Nigeria | Zendy

Orajekwe Jerry Chukwuebuka | Zendy; Okafor Obumneme Obiora | Zendy; Okoye Emmanuel Ikechukwu | Zendy

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Corporate Social Responsibility and Financial Sustainability of Oil and Gas Firms in Nigeria

Author(s) -

Orajekwe Jerry Chukwuebuka,

Okafor Obumneme Obiora,

Okoye Emmanuel Ikechukwu

Publication year - 2021

Publication title -

asian journal of economics business and accounting

Language(s) - English

Resource type - Journals

ISSN - 2456-639X

DOI - 10.9734/ajeba/2021/v21i1930505

Subject(s) - stock exchange , corporate social responsibility , profit margin , business , return on assets , accounting , financial statement , sustainability , social responsibility , fossil fuel , finance , petroleum industry , operating margin , audit , political science , engineering , public relations , ecology , environmental engineering , biology , waste management

Aims: The study examined the effect of corporate social responsibility on financial sustainability of quoted oil and gas firms in Nigeria. Study Design: The research work adopted for the study ex-post facto research design. Secondary data spanning 2009 to 2020 was sourced and collated from financial statement of oil and gas firms annual report in Nigeria and Nigeria Stock Exchange factbook. Place of Study: Department of Accountancy, Nnamdi Azikiwe University, Awka, Anambra State, Nigeria. Methodology: The data was analyzed employing the Pearson coefficient correlation and least square regression technique. Results: The study revealed that corporate social responsibility has a significant positive effect on net profit margin and return on asset of quoted oil and gas firms in Nigeria at 5% level of significance. Conclusion: Given the integral role the Oil and Gas sector plays in Nigeria, this paper showed the importance of corporate social responsibility in ensuring the financial sustainability of corporations in the Nigerian Oil and Gas industry.

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