Corporate Social Responsibility and Value Creation of Quoted Oil and Gas Firms in Nigeria
Journal: International Journal of Trend in Scientific Research and Development (Vol.7, No. 2)Publication Date: 2023-04-10
Authors : Okoli Angela Obianuju Okafor Tochukwu Gloria;
Page : 616-623
Keywords : Occupational Health and Safety Responsibility; Emissions Responsibility; Employment Responsibility and Cash Value Added;
Abstract
This study examined the relationship between corporate social responsibility and value creation of quoted oil and gas firms in Nigeria for a period of fourteen 14 years spanning from 2008 to 2021. Specifically, this study examined the relationship between occupational health and safety responsibility, emissions responsibility, employment responsibility and cash value added. Panel data were used in this study, which were obtained from the annual reports and accounts of the ten 10 sampled firms. Ex Post Facto research design was employed. Descriptive statistics of the dataset from the sampled firms was employed to summarily describe the mean, standard deviation, minimum and maximum values of the data for the study variables. Inferential statistics using Pearson correlation coefficient and Panel least square regression analysis were employed to test the hypotheses of the study. The results showed that there is a significant and positive relationship between occupational health and safety responsibility and cash value added ß1=1.930842 p value = 0.0006 a significant and positive relationship between emissions responsibility and cash value added ß2=0.575137 p value = 0.0116 a significant and positive relationship between employment responsibility and cash value added ß3=.0.075661 p value = 0.0000 of quoted oil and gas firms in Nigeria at 5 level of significance respectively. The study recommended amongst others that firms should develop safety programs in order to protect the workers, reduce absences and down time, ensuring that the workplace is more efficient and productive which will inadvertently result to value creation. Okoli, Angela Obianuju | Okafor, Tochukwu Gloria "Corporate Social Responsibility and Value Creation of Quoted Oil and Gas Firms in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-7 | Issue-2 , April 2023, URL: https://www.ijtsrd.com.com/papers/ijtsrd55109.pdf Paper URL: https://www.ijtsrd.com.com/management/accounting-and-finance/55109/corporate-social-responsibility-and-value-creation-of-quoted-oil-and-gas-firms-in-nigeria/okoli-angela-obianuju
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