ISSN 2348-3156 (Print) International Journal of Social Science and Humanities Research ISSN 2348-3164 (online) Vol. 10, Issue 3, pp: (195-209), Month: July - September 2022, Available at: www.researchpublish.com
THE IMPACT OF CORPORATE SOCIAL RESPONSIBILITY ON ORGANIZATIONAL PERFORMANCE: CASE STUDY OF THE BANKING SECTOR IN NIGERIA 1
AKEEM TOSIN OLAYEMI, 2Assoc. prof. (Ph.D.) Murat UNANOGLU 1
1,2
Research scholar, 2Advisor
Institute of Graduate Studies, Istanbul Aydin University, Beşyol, İnönü Cd. No: 38, 34295 Küçükçekmece/İstanbul, Turkey DOI: https://doi.org/10.5281/zenodo.6937945
Published Date: 29-July-2022
Abstract: This paper studies the impact of corporate social responsibility on organizational performance using Nigeria’s banking sector as a case study. The aim is to investigate (i) To discover the effect of human rights responsibility on the performance of the Nigerian banking sector, (ii) To discover the effect of human rights responsibility on the performance of the Nigerian banking sector, (iii) To measure the effect of economic responsibility on the performance of the banking sector in Nigeria, and (iv) To investigate the impact of philanthropic responsibility on the banking sector. The results of the regression analysis using the data for 398 respondents drawn from employees of 22 banks in Nigeria, show that corporate social responsibility represented by its variables; Environmental responsibility, human rights responsibility, philanthropic responsibility and Economic responsibility, positively impacts on organizational performance of Nigerian Banks. Keywords: corporate social responsibility, banking sector, Economic responsibility, Nigerian Banks.
1. INTRODUCTION Every firm focuses on creating enduring and beneficial relationships with customers and society at large in today's fiercely competitive business environment in order to ensure long- term financial sustainability (Boafo & Kokuma, 2016). The idea of corporate social responsibility has been recognised and accepted by certain corporations as a means of improving performance. A strong impetus toward corporate social responsibility (CSR) has resulted from corporations' intense concern with their credibility in regard to their social and environmental commitments as a result of globalisation (Perrini & Tencati, 2006). To demonstrate and improve their environmental and social resilience as well as their duty, businesses, nevertheless, consistently engage in CSR efforts (Farache & Perks, 2010).The study of corporate responsibility is a significant area in business ethics. Theories of corporate social responsibility now in existence assume that businesses rely on society for continuity, expansion, and sustainability. Businesses are most likely to have a good impact onsociety when they treat society fairly (Husillos, González, & Gil, 2011). An organization's attempts to maximize its positive customer impact while minimizing its negative social impact are referred to as corporate social responsibility (CSR) (Brinkmann & Peattie, 2008). The term "corporate social responsibility" (CSR) refers to how firms conduct their business in a way that is moral, socially responsible, and useful to the community (Ismail, 2009). CSR refers to a business' duty to safeguard and promote welfare benefits while giving stakeholders long-term rewards (Lin et al., 2009). CSR has been a key component of many companies' corporate strategies for reducing their negative social and environmental effects (Beret, 2011).The performance of a corporation can be impacted in a number of ways by corporate social
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