Corporate Social Responsibilities and Firm Performance: A Comparative study of Banking and Non-Bank Sector in Nigeria

Abstract

The objective this study is to ascertain the relationship between CSR and performance. The study compared what is obtainable in the Nigerian banking sector and the Nigerian manufacturing sector. Ten firms were selected, five each from the aforementioned sectors. Ordinary least square statistical technique was employed for the study .Result shows that CSR has significant impact on the performance of both firms in the manufacturing and the banking sector. The study also reveals that manufacturing companies expend more on CRS activities than bank. The study recommended that statutory bodies should mandate banks to go beyond donation and look at other areas of CSR. It further recommended that managements of the two sectors should take advantage of CSR in order to enhance their corporate performance