Corporate Social Responsibility (CSR) and Organizational Performance of Selected Financial Institutions In Nigeria

Abstract

This research is centered on corporate social responsibility and organizational performance in Nigeria. For this study, four research questions and four hypotheses were developed. A survey research design was used for the study. The study's sample population consisted of five banks: First Banks, UBA, Access Bank, Zenith Bank, and GTB. A questionnaire was used to collect data; it was created by the researcher based on questions and validated by the researcher's supervisor. 400 questionnaires were printed and distributed to respondents, but only 352 were returned Data were analyzed using frequency count, percentages, mean and standard deviation, Pearson correlation, and LCD comparative analysis to determine the differences and similarities of the various banks investigated, while ANOVA was used to test hypotheses. This study's key findings include: a positive relationship between environmental sustainability and the reputation of the selected financial institutions. A positive relationship exists between social commitment and financial institution profitability. Employee orientation and firm promotion have a positive relationship. There is a link between resource conservation and stakeholder satisfaction. The following recommendations are made based on the findings and conclusions: Banks must continually strengthen their commitment to CSR activities in order to improve their reputation with customers and the business community. In order to continuously improve corporate profitability, banks must seek out long-term CSR initiatives. Most importantly, the firm's involvement in corporate social responsibility should be publicized, as this will encourage companies, individuals, governments, and society at large to be socially responsible. Furthermore, because CSR is directly related to stakeholder satisfaction, it must be taken seriously.