ABSTRACT
The study focused on the effect of corporate
social responsibility on profitability of quoted banks in Nigeria. Communities
hive expressed more mistrust of corporations because of various scandals. This
has put business. ethics in the spot light influencing companies to be good
corporate citizens, respecting the law but also to create good social values
and principles. The study made used of an export facto research design and data
collected were analyzed using regression analysis. The s'tudy revealed that the
estimated coefficient of the regression parameter have a positive sign and thus
conform to our a-priori expectation. The implication of this sign is that the
dependent variables Return on Asset (ROA), Return on Equity (ROE) and Profit
after Tax (PAT) are positively affected by Corporate Social Respohsibility Cost
(CSRC). The study also revealed that there is a very high relationship between
Corporate Social Responsibility Cost (CSRC) and the various dependent variables
that is Return on Asset (ROA), Return on Equity (ROE) and Profit Margin (PM).
Based on the findings, the study therefore conclude that deliberate actions
taken to reduce the nuisance brought about by waste products generated by firms
often brings about positive social responsibility rating, image and
acceptability of the firm within its operating area. Also, while behaving in a
socially responsible way normally raises the cost profile of a firm, there have
been evidence, although not unchallenged, tha.t firms that do so tend to enjoy
better long run corporate performance, arising mostly from the support,
friendliness and peace they often experience in their operating environment. It
is. recommended that Firms should ensure to put measures in place to reduce the
nuisance of environmental pollution through abatement, as expenditures made on
pollution abatement are normally off-set in the long run by the firms'
enjoyment of a healthy and sustainable operating environment. Also, corporate
social responsibility projects should be provided by firms especially within
and from the benefit of their host communities, especially as government has not
been very successful in meeting the basic needs of most communities. Typical
areas of intervention for firms in Nigeria include education, health and
physical infrastructure support. Such actions ensure that a firm enjoys a
positive image and good neighborliness from its host community.
OWUSHI, O (2021). Effect Of Corporate Social Responsibility On Profitability Of Banks In Nigeria (A Study Of First Bank) . Mouau.afribary.org: Retrieved Nov 01, 2024, from https://repository.mouau.edu.ng/work/view/effect-of-corporate-social-responsibility-on-profitability-of-banks-in-nigeria-a-study-of-first-bank-7-2
OGECHUKWU, OWUSHI. "Effect Of Corporate Social Responsibility On Profitability Of Banks In Nigeria (A Study Of First Bank) " Mouau.afribary.org. Mouau.afribary.org, 15 Jul. 2021, https://repository.mouau.edu.ng/work/view/effect-of-corporate-social-responsibility-on-profitability-of-banks-in-nigeria-a-study-of-first-bank-7-2. Accessed 01 Nov. 2024.
OGECHUKWU, OWUSHI. "Effect Of Corporate Social Responsibility On Profitability Of Banks In Nigeria (A Study Of First Bank) ". Mouau.afribary.org, Mouau.afribary.org, 15 Jul. 2021. Web. 01 Nov. 2024. < https://repository.mouau.edu.ng/work/view/effect-of-corporate-social-responsibility-on-profitability-of-banks-in-nigeria-a-study-of-first-bank-7-2 >.
OGECHUKWU, OWUSHI. "Effect Of Corporate Social Responsibility On Profitability Of Banks In Nigeria (A Study Of First Bank) " Mouau.afribary.org (2021). Accessed 01 Nov. 2024. https://repository.mouau.edu.ng/work/view/effect-of-corporate-social-responsibility-on-profitability-of-banks-in-nigeria-a-study-of-first-bank-7-2