Universal Journal of Accounting and Finance Vol. 12(3), pp. 78 - 94
DOI: 10.13189/ujaf.2024.120303
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Corporate Ownership Structure and Social Responsibility Cost of Listed Manufacturing Firms in Nigeria

Chidiebele Innocent Onyali ^*, Chinedu Uchenna Okerekeoti , Uzoamaka Maureen Ukoh
Department of Accountancy, Nnamdi Azikiwe University Awka, Nigeria

ABSTRACT

The study investigated the effect of corporate ownership structure on the social responsibility cost of listed manufacturing firms in Nigeria. The specific objectives were to examine the effect of ownership concentration, board ownership, foreign ownership and institutional ownership on philanthropic responsibility cost of listed manufacturing firms in Nigeria. The research design employed in this study is ex-post facto. The study's target population encompassed the entirety of twenty-one consumer goods manufacturing firms that hold listings in Nigeria. The selection of sixteen companies forming the study's sample size was accomplished through the application of purposive sampling technique. Secondary data sourced from the firms' annual reports were used for the study. The period of coverage is a ten-year accounting period spanning from 2013 to 2022. The hypotheses were tested with the aid of ordinary least square regression which revealed that: Ownership concentration has a positive and significant effect on the philanthropic responsibility cost of listed manufacturing firms in Nigeria (p-value of 0.0000); Board ownership has a non-significant and positive effect on the philanthropic responsibility cost of listed manufacturing firms in Nigeria (p-value of 0.3959); Foreign ownership has a significant and positive effect on the philanthropic responsibility cost of listed manufacturing firms in Nigeria (p-value of 0.0001); Institutional ownership has a significant and negative effect on the philanthropic responsibility cost of listed manufacturing firms in Nigeria (p-value of 0.0001). The study recommended amongst others that manufacturing firms should establish clear frameworks and channels for involving concentrated owners in decision-making related to philanthropy. This may include creating dedicated committees or platforms where key owners actively contribute to shaping CSR strategies, ensuring alignment with their values and the broader corporate objectives.

KEYWORDS
Corporate Social Responsibility (CSR), Costs, Ownership, Firms

Cite This Paper in IEEE or APA Citation Styles
(a). IEEE Format:
[1] Chidiebele Innocent Onyali , Chinedu Uchenna Okerekeoti , Uzoamaka Maureen Ukoh , "Corporate Ownership Structure and Social Responsibility Cost of Listed Manufacturing Firms in Nigeria," Universal Journal of Accounting and Finance, Vol. 12, No. 3, pp. 78 - 94, 2024. DOI: 10.13189/ujaf.2024.120303.

(b). APA Format:
Chidiebele Innocent Onyali , Chinedu Uchenna Okerekeoti , Uzoamaka Maureen Ukoh (2024). Corporate Ownership Structure and Social Responsibility Cost of Listed Manufacturing Firms in Nigeria. Universal Journal of Accounting and Finance, 12(3), 78 - 94. DOI: 10.13189/ujaf.2024.120303.