Articlegreen2012

Corporate Social Responsibility and Financial Performance in Developing Economies: The Nigerian Experience

Olayinka Marte Uadiale · Temitope Olamide Fagbemi

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Corporate Social Responsibility Reporting Corporate Identity and Reputation Corporate Governance and Financial Management

Abstract

Corporate social responsibility (CSR) has the potential to make positive contributions to the development of society and businesses. Organisations are beginning to see the benefits from setting up strategic CSR agendas. The increasing attention to CSR is based on its capability to influence firms’ performance. The CSR movement is spreading over the world and in recent years a large number of methods and frameworks have been developed, the majority being developed in the West. This study focuses on developing economies and on Nigeria specifically. Using a sample of forty audited financial statements of quoted companies in Nigeria, this study examines the impact of CSR activities on financial performance measured with Return on Equity (ROE) and Return on Assets (ROA). The results show that CSR has a positive and significant relationship with the financial performance measures. These results reinforce the accumulating body of empirical support for the positive impact of CSR on financial performance.

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References

1995A Stakeholder Framework for Analyzing and Evaluating Corporate Social Performance 2003Corporate Social and Financial Performance: A Meta-Analysis 1997THE CORPORATE SOCIAL PERFORMANCE-FINANCIAL PERFORMANCE LINK 1999Corporate Social Responsibility 1995Green and competitive: ending the stalemate 2000Corporate social responsibility and financial performance: correlation or misspecification?2001Shareholder value, stakeholder management, and social issues: what's the bottom line?1988CORPORATE SOCIAL RESPONSIBILITY AND FIRM FINANCIAL PERFORMANCE.

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