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Does Corporate Social Responsibility Improve Financial Performance of Nigerian Firms? Empirical Evidence from Triangulation Analysis

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  • Ismail O. Fasanya

    (Department of Economics and Financial Studies, Fountain University, Osogbo, Nigeria)

  • Adegbemi B.O.Onakoya

    (Tai Solarin University of Education, Ijagun, Nigeria)

Abstract

This paper examines the impact of Corporate Social Responsibility (CSR) on Financial Performance of Firms in Nigeria. This study utilizes both primary and secondary data. The questions were structured in such a way as to gather pertinent and specific information on how effective Corporate Social Responsibility (CSR) has improved the financial viability of firms in Nigeria. This paper employs both descriptive and quantitative techniques in which chi-square technique and content analysis was used to test the significance relationship among the frequencies. The study reveals that proper and effective CSR goes a long way in improving the trend of firms’ financial performance in Nigeria using Cadbury Nigeria Plc. as the study area. It was observed that CSR could be a key instrument to the financial development of any organizations through the process of giving back to the community.

Suggested Citation

  • Ismail O. Fasanya & Adegbemi B.O.Onakoya, 2013. "Does Corporate Social Responsibility Improve Financial Performance of Nigerian Firms? Empirical Evidence from Triangulation Analysis," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 9(3), pages 22-36, June.
    • Handle: RePEc:dug:actaec:y:2013:i:3:p:22-36
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    References listed on IDEAS

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    1. Ammar Ali Gull & Asif Saeed & Muhammad Tahir Suleman & Rizwan Mushtaq, 2022. "Revisiting the association between environmental performance and financial performance: Does the level of environmental orientation matter?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(5), pages 1647-1662, September.
    2. Danquah Jeff Boakye & Ishmael TIngbani & Gabriel Ahinful & Isaac Damoah & Venancio Tauringana, 2020. "Sustainable environmental practices and financial performance: Evidence from listed small and medium‐sized enterprise in the United Kingdom," Business Strategy and the Environment, Wiley Blackwell, vol. 29(6), pages 2583-2602, September.
    3. Yasir Hayat Mughal & Mahad Jehangir & Muzzamil Khan & Mehran Saeed, 2021. "Nexus between corporate social responsibility and firm’s performance: A panel data approach," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(2), pages 3173-3188, April.

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