Corporate Organizations and Corporate Social Responsibilities: Does the CSR practice boost the financial performance of Oil and Gas Corporations in the Niger Delta region of Nigeria? (Published)
Corporate social responsibility is a global practice by companies which stipulates a way such companies contribute to the development of host community or forming partnership with constituted authorities for community development. The study investigated the CSR activities of oil and gas multinational companies in Nigeria to find out the extent it positively affects their financial performance. The study is anchored on stakeholder theory. The major source of data collection was through primary source and questionnaire method was the main technique for data collection. However, sample size of 350 staff was purposively drawn from the over 550 populations of five selected oil and gas multinationals in the Niger Delta region of Nigeria. Copies of open ended structured questionnaire were distributed to the members of staff of the selected oil and gas multinationals in the Delta region of Nigeria. Descriptive statistics using cross tabulation and chi-square distribution were deployed for data analysis. The study revealed that corporate social responsibility activities of oil and gas multinational companies do not directly robustly positively affect their financial performance because the activity usually involves spending money and resources to meet the development needs of the host communities. The study, however, recommends improved CSR activities of the companies to their host communities because it is more likely to result in peaceful atmosphere for effective and efficient operations which in turn could positively affect their finances.
Keywords: CSR, Community development, Financial Performance, corporate organization, stakeholder
Corporate Social Responsibility in Nigeria: A Critical Review of the Literature (Published)
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The paper reviews existing literature on Corporate Social Responsibility (CSR) to ascertain the level of corporate social responsibility activities that will enhance the performance/profitability of businesses in Nigeria. It revealed that the success of an organization depends on the extent to which the organization is capable of managing its relationship with key groups, such as financial and stakeholders, but also customers, employees, and even communities or societies. Stakeholders must be considered in the decision making process of the organization. CSR is a concept that includes many different activities and actions which businesses have to involve themselves in for the purpose growth sustainability and growth of businesses. Businesses that voluntarily participates in local community development, such as providing the community with donations, assisting them with projects and sharing some of its profit with the community, helps to increase the business profitability in the long-run.
Keywords: CSR, Literature, Nigeria, Organisation, Performance
Corporate Social Responsibility: Concepts, Perspectives, and Link with Corporate Performance: Literature Review (Published)
Nowadays, the term of Corporate Social Responsibility (CSR) becomes increasingly important. The growing trend of CSR becomes an interested challenge for companies and their management. There is an integration of positive attitudes, practices, or programs into company’s business strategy at the top management level. For companies and their management, it is important to know if CSR activities lead to financial and non-financial benefits. The paper reviews the CSR concepts, definitions and the link between this concept and performance.
Keywords: CSR, Corporate performance