Corporate social responsibility and organizational effectiveness of insurance companies in Nigeria (original) (raw)
Related papers
Archives of Business Research, 2018
This study aims to determine the effect of competence, compensation for organizational citizenship behavior (OCB) and job performance in life insurance companies in Batam City. The sample of this study was 244 respondents with the proportionate sampling method and purposive sampling was designed. Data were collected using a questionnaire with a Likert scale and then analyzed with Structural Equation Modeling (SEM) through the AMOS program version 21. The results of the analysis proved that Competence had a significant effect on Compensation; Compensation has a significant effect on Organizational Citizenship Behavior (OCB); Competence has a significant effect on Organizational Citizenship Behavior (OCB); Compensation has a significant effect on Job Performance; Organizational Citizenship Behavior (OCB) has a significant effect on Job Performance; Competence has a significant effect on Job Performance of life insurance in Batam City.
Zaria Journal Of Communication, 2021
Organizational communication of corporate companies should respond to the demands of community sustainable development by systematically establishing and managing trust-based interactions. This research aimed to propose a responsible communication strategy for the management of trust between corporate organizations and host communities in Nigeria. The objectives of the study are to: identify the corporate social responsibility system of the selected organization, investigate how the CSR activities are communicated, and examine how host communities are considered. The study was projective, focusing two indigenous companies in the insurance and pension industry. A total of fifty respondents purposively selected responded to forty-nine copies of the questionnaire. Two in-depth interviews were conducted. The findings showed the importance of corporate social responsibility in the development of cordial relationship between regulatory agencies and customers. It was also observed that corporate social responsibility communication of the two sampled organizations was mainly a bout their sustainable actions/operations. The study recommended that corporate organizations in Nigeria must come up with a communication strategy articulated to responsible corporate social responsibility communication in order to establish and manage trust between organizations and host communities in Nigeria.
The dawn of the 21 st century has witnessed increased competition in the business world as virtually every product now has an alternative. This development has made the customers the kings and the queens of the market. This implies that the success, survival and sustenance of any business depend on the ability to reach out, link up, establish and maintain mutual understanding, cooperation and healthy relationship with the customers and host communities. One of the ways this is achieved in the business world is through corporate social responsibility. This study examined the effects of corporate social responsibility on Nigeria's telecommunication industry in Plateau State, Nigeria. The survey research method was employed. Data collected for this study are from both primary and secondary sources, relying heavily on the relevant information available from the Nigeria telecommunication industry, the general public and other sources. Tests were conducted using chi-square analysis. The chi-square result reveals a strong and significant relationship between CSR and Social progress. The study recommends that telecoms industries in Plateau State should be encouraged to expand their CSR activities by going into other areas like health, education, charity giving, instead of focusing on one particular activity. The NCC should come up with modalities for monitoring their level of carrying out social services to their host communities, among others.
Before now it is believe that it is only company that their activities adversely affect the environment that should be socially responsible. This has change over the years as some country has made it mandatory for business to be socially responsible without which they cannot do business. For insurance company, their activities have to do with rendering of services and as such do not destroy the environment. The main objective of the study was to determine corporate social responsibility accounting and financial performance of insurance companies in Nigeria. The research design adopted for the study is expo facto research design. The population of the study consists of all the 40 companies quoted in the Nigeria Stock Exchange as at December 2016. A sample of 25 insurance companies was selected base on their size from the population of the insurance companies. Data for the study were obtained from annual reports for the period of ten (10) years ranging from 2007 to 2016. Multiple regression analysis was carried out to determine the desire relationship. Findings show a significant relationship between corporate social responsibility accounting and return on capital employed and net profit margin, while a negative relationship with earnings per share. The implication of the findings is that there is evidence of conscious effort of the sampled insurance companies to discharge their social responsibility. The study recommends among other that management should be proactive and ensure that their social responsibility policies are adequately implemented, and ensure that Nigerian companies comply with government laws regarding business regulation in the country.
The major objective of this study was to examine the effect of corporate social responsibility on organizational performance: A study of selected consumer goods producing firms in Yola, Adamawa State. In the study, relevant literature was reviewed. A total of three (3) hypotheses were formulated. This study had a population of five hundred and forty-six (546). The Taro Yamane sample size determination formula was adopted to select a sample size of two hundred and thirty (230) respondents. Out of this number, two hundred and sixteen (226) questionnaires were returned, giving a response rate of 98.3 percent. The study adopted the causal research design. A structured questionnaire using Likert scale was used as a major instrument of data collection. The instruments was duly validated and reliability was obtained through test-retest method. Both descriptive and inferential statistical tool was applied specifically the linear regression was applied with the aid of SPSS version 25 to test the hypotheses. The hypotheses for the study were tested at 0.05 level of significance under N-3 degrees of freedom. The findings revealed that economic corporate social responsibility, philanthropic corporate social responsibility and ethical corporate social responsibility has significant effect on organizational performance of Adama Beverage ltd. and Rico Gado Nutrion. It was concluded that economic corporate social responsibility, philanthropic corporate social responsibility and ethical corporate social responsibility has positive and significant effect on organizational performance. Based on the findings of this study, it was recommended that firms should not forget the original and major aim of the business by ensuring its growth and prosperity. In making decision on social responsibility, economic efficiency should be the watch word. It was also recommended that, businesses should be corporate good citizen and improve the quality of life in society they operate because, it is normal and right thing to do. Furthermore, business organizations have to develop a code of ethics as this becomes essential when one considers what respondents say in the affirmative about the decision of business pertaining the issues of social responsibility.
Some organizations have understood and embraced the concept of corporate social responsibility as a means of improving their performance. The purpose of the study is to determine the influence of corporate social responsibility activities on organizational performance. A survey research design was used in the study. The target population for this study is the skilled labour of Seven-Up Bottling Company Plc, Ibadan, and Nigeria Brewery Plc, Ibadan. 262 was used as the sample size for the study which was calculated by Taro Yamane Formula. The questionnaires were the main instrument of data collection. Descriptive statistics analysis was used for demographic data of the respondents while inferential statistics through the use of multiple regression were used to test the hypotheses. The findings revealed that corporate social responsibility significantly influences organizational performance. Furthermore, philanthropic, ethical, economic, legal activities significantly predict organizational performance among the manufacturing firms in Oyo State, Nigeria. It was concluded that four dimensions of corporate social responsibility activities which include; philanthropic activities, ethical activities, economic activities, and legal activities positively influenced organizational performance. The study recommends that senior management should always ensure continuous and intensive research and development to ensure maximum exploitation of activities used for managing and controlling corporate social responsibility to enhance organization performance.
APPRAISAL OF THE PRACTICE OF SOCIAL RESPONSIBILITY BY BUSINESS ORGANISATIONS IN NIGERIA
This paper focuses on the social responsibility of business organizations in Nigeria. It examines the extent of their involvement in the concept of social responsibility with a view to recommend the strategic importance of being socially responsible to all the stakeholders. The methodology employed was that the researcher examines the Annual Reports and Accounts of randomly selected companies and compared their turnover with their investment in social responsibility. The result revealed that these companies have contributed infinitesimal amount of their gross earnings in social responsibility. Thus, they need to increase their involvement in social responsibility to boost their reputation capital.
2016
This study examines the relationship between corporate social responsibility (CSR) dimensions and financial performance in the Nigerian listed companies. The population of the study is 196 listed companies in the Nigerian stock exchange. The sample is determined to be 130 companies out of which 99 responses were received. The study adopts survey design and structural equations modelling (SEM) was conducted using smart PLS 2.0 software. It was found that customer, employee and investor relations have a positive significant effect on financial performance of Nigerian listed firms. Future studies are encouraged to examine the effect of other CSR dimensions that are not examined in the present study, on financial performance.
Journal of business and strategic management, 2022
The research examined an appraisal of Corporate Social Responsibility on Organizational Performance of Commercial Banks in Nigeria. The research adopted historical method to analyze the data collected from secondary data only (Journals, Textbooks), Internet, library and Newspaper. One main objective and two (2) specific objectives were highlighted. Furthermore, Conceptual clarification, theoretical framework and discussion of findings we're examined. Among other things are, things that affect Cooperate Social Responsibility on Nigeria Economy, Challenges and Recommendations were made to sustain Corporate Social Responsibility to enhance Organizational Performance of Commercial Banks in Nigeria.
Corporate social responsibility as an element of strategy of insurance companies
Tokovi osiguranja, 2021
This study aims to analyse the relationship between corporate social responsibility (CSR) of insurance companies and their market share. The main idea of the research is to indicate that activities aimed at implementing CSR should be considered as an investment, rather than a cost. Insurance is based on trust, and trust is built mostly by a socially responsible business. Effective implementation of the CSR is a crucial instrument for achieving a competitive advantage in the insurance industry, given that it allows the development of positive awareness in relation to a particular insurance company. The research is based on publicly available data on 16 insurance companies operating in the Serbian insurance market. Research results indicate that those insurance companies that have integrated CSR in their strategy, implementing a sustainable business principle, have been recognized as socially responsible by the actual and potential insured persons and other stakeholders, which results...