Corporate Social Responsibility and Financial Sustainability of Oil and Gas Firms in Nigeria
Orajekwe Jerry Chukwuebuka, Okafor Obumneme Obiora, Okoye Emmanuel Ikechukwu
Asian Journal of Economics, Business and Accounting · pp. 46–56 · Published 14 Dec 2021
10.9734/ajeba/2021/v21i1930505Abstract
Aims: The study examined the effect of corporate social responsibility on financial sustainability of quoted oil and gas firms in Nigeria. Study Design: The research work adopted for the study ex-post facto research design. Secondary data spanning 2009 to 2020 was sourced and collated from financial statement of oil and gas firms annual report in Nigeria and Nigeria Stock Exchange factbook. Place of Study: Department of Accountancy, Nnamdi Azikiwe University, Awka, Anambra State, Nigeria. Methodology: The data was analyzed employing the Pearson coefficient correlation and least square regression technique. Results: The study revealed that corporate social responsibility has a significant positive effect on net profit margin and return on asset of quoted oil and gas firms in Nigeria at 5% level of significance. Conclusion: Given the integral role the Oil and Gas sector plays in Nigeria, this paper showed the importance of corporate social responsibility in ensuring the financial sustainability of corporations in the Nigerian Oil and Gas industry.
Cited by 2
Department of Economics, Bowen University, Iwo, Osun State, Nigeria, Emmanuel Ayeni, Akintayo Akintunde A. · International Journal of Economics and Business Management · 2025
Aliya Dosmanbetova, Lyazzat Yespergenova, Maxat Kalikov · Cogent Business & Management · 2025
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