Corporate Social Responsibility and Earnings Per Share of Oil and Gas Companies in Nigeria

Abstract

Organizations are operating in a world where they must carry out social, environmental, and economic functions and obligations. All corporations and stakeholders are focusing on the need for social and environmental accounting. This paper studied the impact of corporate social responsibility on the earnings per share of Oil and Gas companies in Nigeria, using ex-post-facto research design, where 8 Oil and Gas companies in Nigeria were examined for a period of 10 years. Total enumeration sampling technique was adopted for the study, and descriptive and inferential statistics were used to analyze the data. The study's findings demonstrated that corporate social responsibility had no bearing on earnings per share (EPS) (Adj R 2 = 0.2579, F-Stat = 3.34, p = 0.1885) of Oil and Gas companies in Nigeria. The study concluded that corporate social responsibility has no significant effect on the earnings per share of Oil and Gas companies in Nigeria. The study recommends that policies should be made for oil and gas companies to report mandatorily about their corporate social responsibilities in their annual reports.

Corporate Social Responsibility Disclosure and Financial Performance of Listed Insurance Firms in Nigeria

“…This finding supported by the results of Mohammed et al, (2016) and Kartadjumana et al ( 2011), who reported that corporate social responsibility expenditure has a significant effect on earnings per share of listed firms. However, this does not support the findings of Owolabi et al, (2022) who reported that CSR has no significant relationship with EPS.…”

“…The results indicated that corporate social responsibility had a positive and significant effect on both return on equity and return on assets, serving as financial performance proxies for listed deposit money banks in Nigeria. Owolabi et al (2022) studied the impact of corporate social responsibility on the earnings per share (EPS) of oil and gas companies in Nigeria, using ex-post-facto research design, where 8 Oil and Gas companies in Nigeria were examined for a period of 10 years. Total enumeration sampling technique was adopted for the study, and descriptive and inferential statistics were used to analyse the data.…”

Environmental Accounting Disclosures and Financial Performance of Listed Oil and Gas Companies in Nigeria: An Application of Driscoll-Kraay Standard Errors Approach

“…For many years, stakeholders have been clamoring for organizations to be held responsible for the impact of their activities on the environment because of the imbalances in the environmental system. The environmental system is imbalanced, and stakeholders have been demanding that organisations be held responsible for their activities' effects on the environment for a long time [1,2]. The success of every business organization is largely dependent on revenue and the benefits to the environment, society, and economy.…”

“…2 nations due to the critical role that the environment plays in the progress and growth of both entities [1]. Environmental accounting as an aspect of corporate social responsibility is a crucial phenomenon that is very vital to the life of any business organization.…”

“…There is no mandatory Stock Exchange listing requirement for Nigerian companies to disclose environmental accounting information, but the Nigerian Stock Exchange's 2018 sustainability reporting Guideline advised corporations to disclose environmental events. Thus, Nigerian environmental accounting disclosure is voluntary, which discourages it [1,5].…”