Social Security Welfare, Donation As Instruments Of Corporate Social Responsibility Over Performance Of Commercial Banks In Nigeria
Ugwuanyi James Uchenna
Department of Marketing, Enugu State University of Science and Technology, (Esut)
Prof. Nebo Gerald Nwora
Department of Marketing, Enugu State University of Science and Technology (Esut)
Okafor Ozoemena Christian (Ph.D.)
Department of Marketing, Enugu State University of Science and Technology (Esut)
Abstract
The aim of this study was to investigate the influence social security welfare, donation as instrument of corporate social responsibility over financial performance of commercial banks in Nigeria. Specific objectives include to: determine the individual influence of social security welfare and donations on profitability of commercial banks in Nigeria. Ex post facto research design was adopted for the study. Auto-distributed lag model (ARDL) regression technique was used in testing hypotheses. After data analysis, findings revealed that social security welfare had a significant positive influence on profitability of selected commercial banks in Nigeria (F=2.857131, pv=0.0000<0.05) and donation exert a significant positive influence on profitability of selected commercial banks in Nigeria (F=2.705764, pv=0.0000<0.05). It was recommended that commercial banks should continue to engage in payments of social security welfare packages (such as hospital bills and pension for retires) to their staff as this will go a long way in maintaining mutual relationship between the staff and the bank. Social security welfare packages motivate bank employees for higher performance which will invariably contribute to commercial banks’ profitability and commercial banks should continue to make donation to the less-privileged such as the motherless baby homes, the school of social welfare, victims of flood, fire, tornado and war disasters. Others are donations for community social infrastructures, (e.g schools, hospitals, markets, power and pipe borne waster) and development projects (e.g skill acquisitions and provision of capital to small scale investors).