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IMPACT OF CORPORATE SOCIAL RESPONSIBILITY ON THE PERFORMANCE OF MANUFACTURING FIRMS IN NIGERIA.
Abstract: Manufacturing firms contribute to environmental pollution and social costs in Nigeria today. To pay back to society and also increase long-term performance and stakeholder trust, manufacturing firms undertake corporate social activities in communities they are located. This study examines the impact of Corporate Social Responsibility (CSR) on the performance of manufacturing firms in Nigeria. A casestudy of Ariaria shoe making and footwear company ltd, Abia State, Nigeria (2005-2006). An ordinary least square regression is applied to annual aggregate data to determine the type of relationship that exist between the dependent and independent variables. A simple linear regression model is used in this study. The dependent variable is the performance indicator while the independent variable is: corporate social responsibility expenditure (ECSR). The financial performance indicators include: Profit after tax (PAT), Asset Financial Value (AFV) and Return on Investment (ROI), while the non-financial performance indicators are; Average Manufacturing Capacity Utilisation (AMCU), Employee’s Productivity rate (EMR) and Company’s output rate (COR).The technique used in estimating the parameters of the specified model is the Ordinary Least Squares (OLS) estimation method. The results of this study show that Corporate Social Responsibility
Expenditure (ECSR) has a positive and significant impact on the Financial and non-financial Performance of Manufacturing Firms. A number of recommendations are made based on the research questions, research objectives and research findings prominent among them is the need for increased spending on CSR to improve the symbiotic sustainable relationship between CSR activities and firms’ performance.
Key words: Corporate Social Responsibility, Manufacturing, Firms, Abuja and Nigeria