EFFECT OF CORPORATE SOCIAL RESPONSIBILITY ON THE FINANCIAL PERFORMANCE OF MANUFACTURING FIRMS IN NIGERIA (A STUDY OF GUINNESS NIGERIA PLC)

This study examined the Effect of Corporate Social Responsibility accounting on the Performance of Food and Beverage Firms in Nigeria. Specifically, the study ascertained the effect of Environmental cost, Staff cost and Corporate Donations on Return on Asset (ROA) of Food and Beverage Firms in Nigeria. An ex –post facto research design approach was adopted for the study. Using time series data for the period of six (6) years (2017 to 2022) and a purposive sampling method, Guinness Nigeria plc was chosen as the sample size. Secondary data were obtained which includes the annual report of the companies from 2017 to 2022 financial year obtained from Nigeria Stock Exchange and the company’s website. The data collected were presented and analyzed using tables, descriptive and inferential statistics. Three hypotheses were formulated and tested in the course of this study. Regression analysis was used to test for statistical significance of the effects of corporate social responsibility accounting on performance in Food and Beverage Firms in Nigeria. The results showed that there is significant effect of Environmental cost on the Return on Asset (ROA) of Food and Beverage Firms in Nigeria. The findings further revealed that there is no significant effect of Staff cost on the Return on Asset (ROA) of Food and Beverage Firms in Nigeria. Finally, the result established also that there is no significant effect of Corporate Donations on the Return on Asset (ROA) of Food and Beverage Firms in Nigeria. Consequent upon the findings, this study recommends among others; that the government should review its policy on corporate social responsibility to fine-tune firms concerns on environment that they will be more responsible citizen.