EFFECT OF CORPORATE SOCIAL RESPONSIBILITY ON BUSINESS PERFORMANCE OF BREWERY FIRMS IN EDO STATE

This study examined the effect of corporate social responsibility on business performance of brewery firms in Edo State Nigeria. The specific objectives are to examine the effect of economic social responsibility, legal social responsibility, ethical social responsibility and philanthropic social responsibility on business performance of brewery firms in Edo State. The study adopted a cross sectional survey research design method; the research utilized a structured questionnaire to gather data from a sample of 177 respondents, comprising line managers, directors and sales representatives of selected brewery sub-plants in Edo State. The data collection focused on understanding the extent of economic social responsibility, legal social responsibility, ethical social responsibility and philanthropic social responsibility on business performance. The data collected was analyzed using SPSS 25.0, a statistical software tool, which facilitated detailed analysis through descriptive statistics, frequencies and simple percentages. The test was used to test the hypotheses regarding the relationships between corporate social responsibility and firm performance. The finding revealed that economic social responsibility being a measure of corporate social responsibility has a positive and significant effect on business performance, legal social responsibility has a positive effect on business performance, ethical social responsibility has a positive and significant effect with business performance and lastly, it was discovered that philanthropic social responsibility has a positive and significant effect with business performance. The study concluded that while corporate social responsibility positively influenced business performance, several hurdles need to be addressed for these practices to be more effective. The findings underscored the importance of continued efforts in corporate social responsibility and suggested that overcoming the identified challenges could enhance the impact of corporate social responsibility strategies in the Nigerian brewery sector. The study recommended that the policymakers in the brewery industry should develop strategic policies that would enhance the practice of economic and social responsibility costs through investing in different businesses that enhance society.