Corporate Social Responsibility and Financial Performance of Manufacturing Companies in Nigeria
The study examines the impact of corporate social responsibility on the financial performance of listed manufacturing companies for the period 2012-2020. Data for the study were collected from the annual reports of the companies. Data on Corporate Social Responsibility on Education (CSRE), Corporate Social Responsibility on Health (CSRH), Corporate Social responsibility on Community and Economic Development (CSRCED) represents the explanatory variables whereas Return on Equity (ROE) of the companies represents the dependent variable of the study. Data obtained were analyzed using Ordinary Least Square multiple regression. Results of the analyzed data indicated a positive and significant impact of CSR on the performance of the companies. The study recommended that manufacturing companies should embark on CSR for the impact the responsibility can have on the profitability of the enterprises. Keywords: Return on Equity, Economic development, Education, Health, Corporate Social Responsibility, Financial performance.