THE CORPORATE SOCIAL RESPONSIBILITY AND BOARD DIVERSITY OF NIGERIAN OIL AND GAS COMPANIES

Corporate Social ResponsibilityProgram managers risk losing their companies if they don't develop plans to increase stakeholder participation.The study looked at how corporate social responsibility of Nigerian oil and gas businesses was affected by board diversity. The research utilized a correlational study plan, utilizing the population consisting among the ten (10) listed oil and gas enterprises that were quoted inside the Nigerian Exchange Group floor as of December 31st 2022. The sample approach accustomed to determine the sample size.Additionally, data were generated from the chosen firms' directors and annual reports. The firms' data collection period was from 2016 to 2022. In the investigation, multiple regression models were used as the analysis method, with Stata 13's assistance. With an overall R-sq of 0.1159, the results showed that the combined effects of gender diversity (GD), board composition (BCOM), and board size (BS) predict a 12% difference in corporate social responsibility (CSR). This demonstrated that the independent variables were appropriately mixed and applied, and the study's model was fit. As stated by the study, the board composition (BCOM) features a significant detrimental effect on corporate social responsibility, but board size (BS) has a negligible positive impact. Gender diversity (GD) has an insignificant negative effect on The corporate social responsibility of Nigerian oil and gas companies. In order to ensure diversity in the decision-making process, the study recommended that policies be adopted that will support lower female depiction on the boards of Every oil and gas firm. Additionally, it was suggested that socially conscious oil and gas companies should have fewer independent directors on their boards

1 27 Mar, 2024

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