COMPARATIVE ANALYSIS OF PROBLEMS MILITATING AGAINST CORPORATE SOCIAL RESPONSIBILITY IN SELECTED BANKS AND MANUFACTURING FIRMS IN NIGERIA

Abstract

This study summary presents a comparative investigation of the problems militating against Corporate Social Responsibility (CSR) in selected commercial banks and manufacturing firms in Nigeria. A survey research design was used while purposive sampling method was employed to select five commercial banks and five manufacturing firms. Primary data were garnered with the aid of a questionnaire from 216 and 205 respondents from commercial banks and manufacturing firms respectively. Problems militating against the practice of CSR activities of selected companies were analysed using the Mann-Whitney U Test as the analytical tool. The result shows that there is no significant difference between the problems militating against the practice of CSR in commercial banks and manufacturing firms in Nigeria. The reason is that for all the variables tested, the p value is greater than 0.05. The study recommends that corporate managers should properly address these problems, such as inadequate financial resources and unethical practices like inside dealings among others, in order to achieve the benefits of actively engaging in CSR, such as enhancement of customers' loyalty and a positive corporate image.