ABSTRACT

The study examined the impact of corporate governance on corporate social responsibility among listed firms in Nigeria. The population of the study focuses on financial firms listed on the Nigerian Stock Exchange as at 31st December, 2020. A random sampling technique was used for this study as the sample size for the study is limited to ten (10) Deposit Money Banks and ten (10) Insurance companies listed in the Nigerian Stock Exchange as at 31st December, 2021. Variables involved in the study include, board size, board diversity, ownership concentration, and Management ownership. The data used in this research are secondary data for the period of 2016 to 2021. The data used in this study were analyzed using regression and finding of the study shows that corporate governance such as board size does not significantly affect corporate social responsibility of listed firms in Nigeria. Likewise board diversity. However, concentrated ownership and managerial ownership significantly affect the corporate social responsibility of Nigeria firms. The study therefore recommends that managers should be allowed greater stake in firms as doing so ensures that managers become highly part of the risk bearing function of the firm and their interest is aligned with other shareholder. Also, listed firms should maintain a significant concentration of ownership thereby confirming the agency perspective that higher concentration increases shareholder power and control aligning managers and shareholders’ interests, and consequently increasing their corporate social responsibility practices.