Insurance Broking, Life Insurance, Risk Management, And Reinsurance
At the Insurance department office
Appointment on Visitation important
|1.||B.Sc (Insurance)||Insurance, Lagos State Univeristy||2019|
Influence of Corporate Social Responsibility on Financial Performance of Insurance Companies in Nigeria
Profit making has been a top priority for corporations over the years, but it is impossible to operate for that alone. Due to increased competition consumers now make buying decisions on how a business is performing outside. According to Flammer 2013 , one-way companies ensure their survivor in the society is through corporate social responsibility CSR activities. He posits that high competitions foster CSR.There are a lot of benefits associated with involvement in CSR by an organization. So, it is necessary to determine the factors that hinder their involvement in CSR and establish the effect on financial performance FP .Carroll and Shabana 2010 , posits that CSR pyramid has four kinds of responsibilities such as; economic profit making , legal; compliance with code of conduct , ethical; code of conduct and philanthropic; being a good corporate citizen . When these are observed then it is socially responsible.The study examined the influence of CSR on FP. The specific objectives were:a. To investigate effect of CSR environmental activities on FPb. To examine the effect of CSR humanitarian activities on FPThe study adoptssurvey research design for the period 2012 to 2017 with 51 insurance companies using stratified random sampling non-life and life , with 6 insurance companies selected from both strata, 6years annual reports was employed, correlation and regression analysis was used with the statistical package of SPSS.The study examined the effect of CSR on FP and showed a mixed results as CSR humanitarian shows a negative influence on FP and CSR environmental shows a positive effect on FP.The study contributes to existing knowledge and depicts that if more actions are taken towards environmental activities in the long run this could lead to goodwill, increase in policies sold by the companies and mouth to mouth advertisement by policyholders.
AWOLODE BISOLA is a Graduate Assistant at the Department of Insurance
AWOLODE has a B.Sc in Insurance from Insurance, Lagos State Univeristy