Browsing by Author "Oke Mercy Oluwapelumi"

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    CORPORATE SOCIAL RESPONSIBILITY EXPENDITURE AND FINANCIAL PERFORMANCE OF LISTED CONSUMER GOODS FIRMS IN NIGERIA
    (Department of Accounting, University of Benin, 2024) ABOGUN Segun; Orilonise Mubarak Abiodun; Subair Faidat Abimbola; Oke Mercy Oluwapelumi; Olarewaju Oluwatimilehin
    Statistics shows that the financial performance of most of the largest consumer goods firms has been fluctuating in recent times. For instance, the combined average net margin of 10 largest listed consumer goods firms fell to 7.07% in 2019, from 8.93% a year before. In 2023, the industry recorded an average loss of #3.5 billion. Hence, the objective of this study is to examine the connection of corporate social responsibility (CSR) expenditure on financial performance of listed consumer goods firms in Nigeria. The research design adopted for the purpose of this study is the ex-post facto research design. Population for the study comprises of the 21 listed consumer goods firms. However, 15 companies were examined using census sampling approach, based on the listed consumer goods firms on the NGX on or before 2019 and availability of information on social costs, economic costs and environmental development costs. This study used an ex facto research design and cover a period of five years from 2019 to 2023. The findings revealed that social and environmental development costs have a significant positive correlation on return on asset which was used as a metrics of financial performance while economic cost have a significant negative impact on financial performance. It was on this bases that the study that CSR expenditure influenced the financial performance of listed consumer goods firms in Nigeria. It is therefore recommended that consumer goods firms should strategically allocate resources to social and environment initiatives as part of their CSR activities while ensuring that all stakeholders’ expectations are not tampered with and ensure effective control of economic costs through strategic and innovative approach.