Emmanuel Onyeka Ejiofor, Doris Ngozi Morah (PhD), Uchechukwu Daniel Abada (PhD)


This study assessed the responsiveness of firms’ market value to corporate social responsibility of consumer good firms in Nigeria. Specifically, the study aimed to determine the effect of corporate social responsibility on price to book value of consumer goods firms in Nigeria. The relevant literature to the study was reviewed to identify and fill the existing gap. The theoretical frameworks adopted for the study was legitimacy theory. The study employed simple linear regression using panel data analysis to assess the influence of price to book value to CSR of consumer good firms for the period 2008-2017. The findings showed that price to book value of the sampled firms were positively influenced by corporate social responsibility. Based on the findings among others, it was recommended that firms that are corporate social responsibility compliant should internalize costs rather than externalizing the actual costs of their operations onto the wider society


CSR, Price to Book Value, Consumer Goods Firms

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