OWNERSHIP STRUCTURE ON CORPORATE SOCIAL RESPONSIBILITY OF QUOTED CONSUMER GOODS FIRMS IN NIGERIA

The study examines the effect of ownership structure on corporate social responsibility of consumer goods firms in Nigeria. The population of this study consists of all the twenty-one (21) quoted consumer goods firms in Nigeria for the period of 2014 to 2024, while seventeen (17) firms were used as the sample size. The hypotheses were tested using a random effect regression model after conducting some diagnostic tests. The results show that managerial ownership (MO) has a significant positive effect on corporate social responsibility of consumer goods firms in Nigeria. However, institutional ownership (IO) has a significant negative effect on corporate social responsibility of consumer goods firms in Nigeria while ownership concentration has an insignificant negative effect on corporate social responsibility of consumer goods firms in Nigeria. The study recommends that the consumer goods firms in Nigeria should make sure that their directors hold at least 15-20 per cent of shares in their firms to make them more committed and increase the amount to be spent on corporate social responsibility in their firms. The study also recommends that the consumer goods firms in Nigeria should ensure that institutional investors hold at least 20-25 per cent of shares in their firms to increase the amount to be spent on corporate social responsibility in their firms.