The Implication of Corporate Social Responsibility on the Strategic Risk of the Listed Firms in Nigeria

Q3 Decision Sciences

ACRN Journal of Finance and Risk Perspectives Pub Date : 2023-01-01 DOI:10.35944/jofrp.2022.11.1.010

Stephanie M. Chondough

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Abstract

This study focuses on the implications of corporate social responsibility (CSR) on the strategic risk of the listed financial and non-financial firms in Nigeria. The population of the study consists of 154 firms, while the census sampling technique was adopted to arrive at an adjusted population of 133. The correlation research design was implored using a positivism approach. Descriptive statistics, correlation matrix, multiple regression, confirmatory analysis and T-test were used to analyze the data extracted from the annual report. Hence, the result of the study shows that corporate social responsibility has a negative impact on strategic risk. The confirmatory factor analysis found that CSR engagement influences strategic risk (SRK), but to varying degrees, contradicting findings from the Frontier Model, PCSE, and GLS that both sectors will have similar results if they engage in CSR effectively. It is therefore suggested that the management of strategic risks need to be more integrated in corporate strategy as the capacity to listen to business stakeholders' viewpoints on social and environmental issues becomes a competitive need.

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企业社会责任对尼日利亚上市公司战略风险的启示

本研究的重点是企业社会责任(CSR)对尼日利亚上市金融和非金融公司战略风险的影响。本研究的人口包括154家公司，而采用普查抽样技术，得到133调整后的人口。运用实证方法进行相关研究设计。采用描述性统计、相关矩阵、多元回归、验证性分析和t检验等方法对年报数据进行分析。因此，研究结果表明，企业社会责任对战略风险具有负向影响。验证性因素分析发现，企业社会责任参与影响战略风险(SRK)，但在不同程度上与前沿模型、PCSE和GLS的研究结果相矛盾，即如果两个部门有效地参与企业社会责任，它们将产生相似的结果。因此，建议战略风险管理需要更多地整合到企业战略中，因为倾听企业利益相关者对社会和环境问题的观点的能力成为一种竞争需要。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

ACRN Journal of Finance and Risk Perspectives Business, Management and Accounting-Business and International Management

CiteScore

3.30

自引率

0.00%

发文量

审稿时长

14 weeks

期刊介绍： This journal is special because it aims to provide an outlet for inter-disciplinary and more in-depth research papers with various methodological approaches from the broad fields of Finance, Risk and Accounting. The target group of this journal are academics who want to get a better understanding of the interconnectedness of their fields by acknowledging the methods and theories used in closely related areas. The JOFRP thus aims to overcome the self-imposed paradigmatic boundaries and reflexive isomorphisms of the individual, typically rather narrow fields and invites new and combined perspectives from the fields of Finance, Risk and Accounting. Despite its methodological, topical and disciplinary openness - it does so with a strong focus on academic rigour and robustness. Articles can vary in size and approaches but all articles will be strictly double-blind peer reviewed and authors are frequently invited to discuss the ramifications of their articles in the global FRAP and SSFII conferences.