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

ABSTRACT Assessment of the effect of corporate social performance on corporate financial performance of manufacturing firms in Nigeria (a study of Guinness Nigeria plc 2014-2019) has been chosen as the topic for this research work because of the need for corporate social performance by manufacturing firms in Nigeria. The objectives of the study were: to ascertain the effect of corporate social performance on Earnings per Share (EPS) of firms in Nigeria; to determine the effect of corporate social performances on Returns on Assets (ROA) of firms in Nigeria and to examine the effect of corporate social performance on Debt to equity (DE) of firms in Nigeria. The researcher reviewed the relevant literatures. The study used the ex-post factor research design. It sourced relevant data through secondary data, which consisted of data obtained from the annual report of Guinness Nigeria plc. Data collected were presented, analyzed and the hypotheses formulated were tested using E-views 8. The study found that: corporate social performance (CSP) significantly affects earnings per share (EPS) of Nigerian firms; corporate social performance (CSP) does not significantly affect Returns on Assets (ROA) of Nigerian firms and that corporate social performance (CSP) does not significantly affect Debt to equity (DE) of Nigerian firms. The study recommended that given the fact that corporate responsibility leads to profit realization, management of selected companies should ensure that the responsibility is inbuilt into their policy statements and back it up with effective budget.