INFLUENCE OF CORPORATE SOCIAL RESPONSIBILITY DISCLOSURE ON INVESTMENT EFFICIENCY OF LISTED HEALTH CARE COMPANIES IN NIGERIA
Amaebi N. Aloku , Saheed A. Lateef,PhD and Josephine Ene,PhD
Volume 5 Issue 1
Abstract
As a method of signifying organizational commitment to ethical business practices, the disclosure of CSR activities has received considerable attention. Considering the foregoing, this study examined the impact of corporate social responsibility disclosure and investment efficiency of listed healthcare firms in Nigeria. The study employed ex post fact research design and panel data of ten (10) years (2014 – 2023 were collected among seven (7) listed firms in the healthcare sectors in Nigeria, while the sample size of the study consists of those seven (7) firms. Descriptive statistics and multiple linear regression analysis were conducted with data collected using the E-views 10.0 statistical package. The study findings were that investment efficiency of listed healthcare companies in Nigeria has a positive significant relationship (Coeff. = 0.0305{0.0047}) with community responsibility disclosure. The study also found a positive, significant (Coeff. = 0.2103{0.0165}) relationship between environmental social responsibility disclosure and investment efficiency of listed healthcare companies in Nigeria. Therefore, it was concluded that the level of investment efficiency in strong commitment to CSR disclosure is exceptional. Amongst others, the study recommends that companies should place environmental sustainability agenda at the top of their either list of initiatives to enhance financial performance and or stakeholder trust by more transparent reporting. Keywords: Corporate Social Responsibility, Investment Efficiency, Listed Health Care Companies.
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