CORPORATE SOCIAL RESPONSIBILITIES AND SUSTAINABILITY OF LISTED MANUFACTURING FIRM IN NIGERIA Corporate Social Responsibility; Sustainability; Manufacturing firm; Stakeholder trust; Financial Stability; Sustainable Development Goals. Section Articles

Abstract

This study investigates the Corporate Social Responsibility (CSR) and Sustainability of listed manufacturing firms in Nigeria, employing an ex-post facto research design. The research utilizes secondary data sourced from audited annual financial statements of seven selected listed manufacturing firms, covering the period from 2015 to 2023. A purposive sampling technique was used to ensure the inclusion of companies with complete data, and panel regression analysis was conducted using Valustat software to examine the relationship between CSR and the Sustainability of listed manufacturing firms in Nigeria. The results reveal a statistically significant positive relationship between CSR expenditures and Sustainability, with an unstandardized coefficient of 0.907, The model's R-Square value is 0.124, suggesting that CSR explains 12.4% of the variation in Sustainability, while the Adjusted R-Square value of 0.110 confirms the robustness of the findings. The ANOVA results support the model's significance, with an F-statistic of 8.509 (p = 0.005). These findings highlight CSR's role as a mitigating factor against Sustainability problems, emphasizing its importance in corporate strategy within the manufacturing firms sector. The study concludes that integrating CSR initiatives can enhance financial performance and stakeholder trust, and it recommends further research to explore the broader dimensions of CSR and its long-term impacts on Sustainability.