DETERMINANTS OF CORPORATE SOCIAL RESPONSIBILITY IN NIGERIAN CEMENT INDUSTRY
Abstract
This study examined the determinants of Corporate Social Responsibility (CSR) of listed Cement Industry in Nigeria for the period of 2012-2016. The listed Cement companies are five in numbers, which a sample of all the five (5) companies were used for the study. Specifically, the study examines the effect of profitability, firm size and dividend on CSR of the listed Cement firms in Nigeria. The study adopted multiple regression techniques and data were collected from secondary source through annual reports and accounts of the firms. The findings of the study revealed that profitability, firm size and dividend paid positively and significantly influence the CSR practice of listed Cement Industry in Nigeria. It is recommended among others that the management should strive in making high economic profit, expanding the firm’s assets, and also maintain a consistent dividend payment as it has been found empirically to be a determining factor for Cement firms in Nigeria to embark on CSR.
Key Words: Corporate Social Responsibility, Dividend, Firm Size, Profitability
References
Abdurrahman, S (2014). The Influence of Corporate Social Responsibility on Total Assets of Quoted Conglomerates in Nigeria. Journal of Business Administration and Management Sciences Research, Vol. 3(1), Pp. 12-21.
Abiodun, B.Y. (2012). The Impact of Corporate Social Responsibility on Firms’ Profitability in Nigeria, European Journal of Economics, Finance and Administrative Sciences, Issue 45, Pp. 39-52.
Amran, A., Lee, S. P. & Devi, S. S. (2014). The Influence of Governance Structure and Strategic Corporate Social Responsibility toward Sustainability Reporting Quality. Business Strategy and the Environment, Vol. 23, No. 4, Pp. 217–35.
Asika, N., (2009). Research Methodology in the Behavioural Sciences, Long man Nigerian Plc.
Bollas-Araya, H.M., Seguí-Mas, E. & Polo-Garrido, F. (2014). Sustainability Reporting in European Cooperative Banks: An Exploratory Analysis. Revista de Estudios Cooperativos, No.15, Pp.30-56.
Crmpton, W., & Patten, D. (2008). Social Responsiveness, Profitability and catastrophic events: Evidence on the Corporate Philanthropic Response to 9/11, Journal of Business Ethics 81, Vol.7, Pp.863-873.
Cyriac, S. (2013). Corporate Sustainability Reporting Practices: A Comparative Study of Practices by Indian and European Companies. A Multidisciplinary Journal of Global Macro Trends, Vol. 2, No. 6, Pp. 38-47.
Deckop, J.R.; Merriman, K.K. & Gupta, S. (2006). The effects of CEP Pay Structure on Corporate Social Performance, Journal of Management, Vol.32. No.3.Pp. 177-191.
Enaroho, J.A., Akinyomi, O.J. and Olotoye, A.E. (2013). Corporate Social Responsibility and Financial Performance: Evidence from Nigerian Manufacturing sector, Asian Journal of Management Research, Vol. 4, No. 1, Pp. 153-162.
Farouk, M.A, and Hassan, S.U. (2013). Determinants of Corporate Social Responsibilities in the Nigerian listed Deposit Money Banks, International Journal of Economics, Business and Finance, Vol. 1, No. 10, Pp. 342-351.
Fifka, M. S. (2013). Corporate Responsibility Reporting and its Determinants in Comparative Perspective – a Review of the Empirical Literature and a Meta‐analysis. Business Strategy and the Environment, Vol.22, No.1, Pp. 1-35.
Folajin, O. O, Ibitoye, O.T and Dunsin, A.T (2014). Corporate Social Responsibility and Organizational Profitability: An Empirical Investigation of United Bank for Africa (UBA) Plc. International Journal of Academic Research in Business and Social Sciences, Vol. 4, No. 8, Pp. 205-214.
Goyal, N. (2014). Corporate Sustainability Reporting Practices among Indian Companies – Myth or Reality. International Journal of Management and Social Sciences Research, Vol. 3, No. 1, Pp. 54-61
Ikharehon, J.I. (2014). The Impact of Corporate Social Responsibility on Firms’ Profitability in Nigeria: A Study of Selected Quoted Firms from 2003 – 2012, International Journal of Management Studies, Vol, 1, Issue-1, Pp. 22-30.
Ilaboya, O. J. & Omoye A. S. (2013). Corporate Social Responsibility and Firm Performance: Evidence from Nigeria, Journal of Asian Development Studies, Vol. 2, Issue 1, Pp.7-21.
Isa, M.A. (2014). Sustainability Reporting among Nigeria Food and Beverages Firms. International Journal of Agriculture and Economic Development, Vol. 2, No. 1, Pp. 1-9.
Michael, O.B. & Oluseye, B.S. (2014). Sustainable Development Reporting Practices by Nigerian Banks. Mediterranean Journal of Social Sciences, Vol. 5, No 23, Pp. 2535-2549.
Mohamed, T., Olfa, B.J., & Faouzi, J. (2014).Corporate Social Disclosure: Explanatory Theories and Conceptual Framework, International Journal of Academic Research in Management (IJARM), Vol. 3, No. 2, Pp. 208-225.
Nuhu, M.S., & Salisu, S. (2017). Corporate Social Performance Determinants: A Study of Marketing Petroleum and Food and Beverages Industry in Nigeria. International Journal of Business and Technopreneurship, Vol. 7, No. 3, Pp. 307-324
Roberts, C.B. (2002). Environmental Disclosure: A Note on Reporting Practices in Mainland Europe, Accounting Auditing and Accountability Journal, Vol.4, No.3, Pp.233-251.
Seguí-Mas, E., Bollas-Araya, H.M. & Polo-Garrido, F. (2015). Sustainability Assurance on the Biggest Cooperatives of the World: an Analysis of their Adoption and Quality. Annals of Public and Cooperative Economics, Vol.86, No.2, Pp.1-15.
Sierra, L., Zorio, A. and García-Benau, M. A. (2013). Sustainable Development and Assurance of Corporate Social Responsibility Reports Published by Ibex-35 Companies. Corporate Social Responsibility and Environmental Management, Vol.20, No.6, Pp.359-370.
Thistlethwaite, J. (2015). The Politics of Experimentation in Climate Change Risk Reporting: The Emergence of the Climate Disclosure Standards Board (CDSB). Environmental Politics, Vol. 24, No. 6, Pp. 970–90
Thistlethwaite, J. and Menzies, M. (2016). Assessing the Governance Practices of Sustainability Reporting. Policy Brief, No. 71, Pp. 1-8, www.cigionline.org
Tiago, M. (2012). Determinants of Corporate Social Performance: the Influence of Organizational Culture, Management Tenure and Financial Performance, Social Responsibility Journal, Vol. 8 Iss 1, pp. 33 – 47.
Ullmann, A.E. 1985, Data in Search of a Theory: A Critical Examination of the Relationship among Social Performance, Social Disclosure and Economic Performance of US Firms, Academy of Management Review, Vol.10 No 3. Pp. 255-267.
Uwalomwa, U. (2011).An Empirical Investigation of The Association Between Firms’ Characteristics And Corporate Social Disclosures In The Nigerian Financial Sector, Journal of Sustainable Development in Africa ,Volume 13, No.1, Pp.60-74.
Wan Ahamed, W., Almsafiri M.K & Al-Smadi, A.W (2014). Does Corporate Social Responsibility Lead to Improve in Firm Financial Performance? Evidence from Malaysia. International Journal of Economics and Finance; Vol. 6, No. 3; Pp. 126-138
Yao, S., Wang, J., and Song, L. (2011).Determinants of Social Responsibility Disclosure by Chinese Firms, Discussion Paper 72, China Policy Institute School of Contemporary Chinese Studies, University of Nottingham
Yusoff, H., Othman, R. and Yatim, N. (2013). Environmental Reporting Practices in Malaysia and Australia. The Journal of Applied Business Research, Vol. 29, No. 6, Pp.1717-1726
Zaccheaus, S.A., Oluwagbemiga, O.Z. & Olugbeng, O.M. (2014). Effects of corporate Social Responsibility Performance (CSR) on Stock Prices: Empirical Study of Listed Manufacturing Companies in Nigeria, Journal of Business and Management, Vol. 16, No. 8. Pp. 112-117
Zhang, R. (2010). Corporate Philanthropic Giving, Advertising Intensity, and Industry Competition level,Journal of Business Ethics94,Pp.39-52.
Zubair, A.I. (2014). Market Reaction to Socially Responsible Businesses in Nigeria: Evidence from Listed Manufacturing Firms, Journal of Finance and Bank Management, Vol. 2, No. 3 & 4, Pp. 69-99.
Downloads
Published
Issue
Section
License
Upon acceptance of an article, authors will be asked to transfer copyright. This transfer will ensure the widest possible dissemination of information. A notification will be sent to the corresponding author confirming receipt of the manuscript. If excerpts from other copyrighted works are included, the author(s) must obtain written permission from the copyright owners and credit the source(s) in the article.
