Effect of corporate social responsibility on performance of manufacturing companies in nigeria

This study investigated the effect of CSR on the performance of listed manufacturing companies in Nigeria. The population comprised of the manufacturing companies listed on Nigeria Stock Exchange. Stratified random sampling and simple random sampling techniques were used to select the sample of 15 out of 74 companies from the five different sectors of the manufacturing industry. The research finding show that corporate social responsibility activities have a moderate positive effect on the performance of manufacturing companies listed on Nigeria Stock Exchange. The study also shows that manufacturing companies engage in CSR not only for profitability but are also motivated by a number of other factors such as better corporate image, marketing and advertising strategy; employee satisfaction and fulfilment; improve competitive advantages, productivity and business opportunities; organizational values, among others.. Following the findings of the study, it is therefore recommended that companies engage in CSR policies and strategies not only to improve their performance but also to strengthening its legitimacy, reputation and building competitive advantage.