The objective of this study was to provide empirical evidence from the perspective of corporate social responsibility practices by multinational oil and gas companies in emerging economies on how investments in and disclosure of this practice could enhance financial sustainability. Accounting-based measures on investments, financial performance, disclosures of activities and panel data set on company size (total assets) over a 10-year period (t) were analysed. Findings show that oil firms with interest in emerging economies take key aspects of corporate social responsibility practices seriously. There was significant positive relationship (p = 0.0035 < 0.05) between investment in the practice and sustainability in financial performance. No significant relationship (p = 0.4409 > 0.05) was established between disclosure and financial performance. Functional corporate social responsibility practices were envisaged to yield sustained dividend in terms of a stronger financial outlook for oil and gas companies for poverty alleviation and to achieve key sustainable development goals and targets in emerging economies.
The objective of this study is to provide empirical evidence from the perspective of prudent corporate social responsibility practices by oil and gas multinationals in emerging economies on how investments in and disclosure of the practices could enhance financial sustainability. Accounting-based measures on investments, financial performance, disclosures of activities and panel data set on company size (total assets) over a 10-year period (t) were analysed. Findings show that multinationals with interests in emerging economies take key aspects of their corporate social responsibility practices seriously. There was a significant positive relationship (p=0.0035 < 0.05) between investments in corporate social responsibility practices and sustainability of financial performance. No significant relationship (p=0.4409 > 0.05) was established between disclosure and financial performance. The paper concludes, by supporting the preposition with scientific data, that functional corporate social responsibility practices yield sustained dividend by presenting a stronger financial outlook for multinational oil and gas companies who engage in it. This is prudent for poverty alleviation initiatives and key to achieving the sustainable development goals and targets in emerging economies where they operate.
The objective of this study is to provide empirical evidence from the perspective of prudent corporate social responsibility practices by oil and gas multinationals in emerging economies on how investments in and disclosure of the practices can enhance financial sustainability. Accounting-based measures on investments, financial performance, disclosures of activities and panel data set on company size (total assets) over a 10-year period (t) were analysed. Findings show that multinationals with interests in emerging economies take key aspects of their corporate social responsibility practices seriously. There was a significant positive relationship (p=0.0035<0.05) between investments in corporate social responsibility practices and sustainability of financial performance. No significant relationship (p=0.4409 > 0.05) was established between disclosure and financial performance. The paper concludes, by supporting the preposition with scientific data, that functional corporate social responsibility practices yield sustained dividend by presenting a stronger financial outlook for multinational oil and gas companies who engage in it. This is prudent for poverty alleviation initiatives and key to achieving the sustainable development goals and targets in emerging economies where they operate.
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