DETERMINANTS OF CORPORATE SOCIAL RESPONSIBILITY OF LISTED OIL AND GAS FIRMS IN NIGERIA

Abstract

This study explores the determinants of corporate social responsibility (CSR) of listed oil and gas firms in Nigeria, focusing on firm size, firm age, firm profitability, and firm growth. The study employs a census sampling technique and collected data from the 9 oil and gas firms listed on the Nigerian Exchange Group. Stata 13 software was employed as the tool for analysis while the Ordinary Least Square (OLS) Regression technique was used to test the hypotheses. The findings reveal that while firm age and profitability have significant effect on CSR, firm size and growth do not significantly affect CSR. These findings suggest that older firms and those with higher profitability are more likely to allocate resources for CSR activities, whereas firm size and firm growth do not necessarily drive CSR. The study recommends that profitable firms reinvest a portion of their financial gains into meaningful CSR activities. In addition, oil and gas firms should establish formal CSR programs that integrate profit-making objectives with social and environmental responsibilities.