Open Access
American Research Journal of Business and Management
ISSN (Online): 2379-1047
DOI: 10.46568/arjbm
Impact of Corporate Social Responsibility on Firm Value of Listed Deposit Money Banks Nigeria
1Nigerian College of Accountancy, kwall, Plateau State Nigeria.
2Department of Accounting, University of Jos, Jos, Plateau State Nigeria.
Okike B. Matthew, Prof. Ekoja B. Ekoja, Dr. Samson I Nyahas, “Impact of Corporate Social Responsibility on
Firm Value of Listed Deposit Money Banks Nigeria”, American Research Journal of Business and Management, Vol 8,
no. 1, 2022, pp. 48-56.
Abstract
This study examines the impact of corporate social responsibility on firm value of listed Deposit Money Banks in
Nigeria. The study was motivated by inconsistency in measurement of CSR and conflicting findings by researchers on
the relationship between Corporate Social responsibility and firm value. Thus, this study adopted the correlational and
ex-post facto research designs. The secondary data were extracted from the annual report and accounts of the 10 listed
Deposit Money Banks on the Nigerian Stock Exchange Market as at 31st December 2020. Data collected was analysed
using Regression analysis statistical tool with the aid of statistics and data (STATA) analytical package. Findings from the
analysis revealed that philanthropic corporate responsibility, ethical corporate responsibility and economic corporate
responsibility have positive relationship with the firm value of deposit money banks (DMB’s) listed in Nigeria. while
negative relationship exists between legal social responsibilities and firm value of deposit money banks listed in Nigeria.
Thus, it is recommended that board and managements of DMBS in Nigeria should avoid being penalised or fined for non
compliance or any other reason and ensure that their operations are incompliance with relevant rules and regulations
and in line with all Central Bank of Nigeria circulars and ensure that investors’ wealth is maximized.
