EFFECT OF CORPORATE SOCIAL RESPONSIBILITY INITIATIVES ON PERFORMANCE OF OIL AND GAS COMPANIES IN NIGERIA: A CASE STUDY OF AKWA IBOM STATE

Abstract

This study examines the effect of corporate social responsibility (CSR) initiatives on the reputation and performance of oil and gas companies in Nigeria. Specifically, it evaluates the effects of Environmental Management (EM), Community Development (CD), and Ethical Labor Practices (ELP). The research aims to determine the extent to which these CSR components influence a company's reputation and performance. Data were collected and analyzed using descriptive statistics and correlation analysis. The results indicate that all three CSR initiatives have a positive correlation with the reputation and performance of the companies. However, the regression analysis reveals that the combined effect of Environmental Management, Community Development, and Ethical Labor Practices, is not statistically significant in predicting company reputation and performance. The R Square value of 0.143 suggests that only 14.3% of the variance in reputation and performance can be attributed to these CSR factors. This study concludes that while Environmental Management, Community Development, and Ethical Labor Practices are positively associated with better reputation and performance, their impact is not statistically significant. Further research is recommended to explore additional factors influencing the reputation and performance of oil and gas companies and to refine the measurement and implementation of CSR practices for more substantial results.