Firm Performance and Corporate Social Environmental Initiatives in the Wake of a Health Pandemic

Osereme Omoike, Uwalomwa Uwuigbe, Philip Alege, Bukola Uwuigbe, Osazuwa Peter Nosakhare and Osariemen Asiriuwa

International Journal of Financial Research, 2020, vol. 11, issue 6, 211-218

Abstract: The study re-examines the relationship between firm share price performance and Corporate Social Environmental Reporting (CSER) initiatives in the wake of a global health pandemic. A comparative analysis was done between the contributions made by listed and non-listed firms in Nigeria towards the pandemic. A comparative analysis of the share price (SP) of listed companies was carried out before the announcement of the pandemic, after the announcement of the pandemic and COVID -19 contributions. A panel regression analysis was conducted. It involved a sample of 70 listed firms in the Nigerian Stock Exchange over a five-year period (2013-2017). The comparative analysis of contributions revealed that listed firms though fewer in number made significantly more contributions than unlisted firms. The study found significant drop in SP after the announcement of a pandemic by the World Health Organisation (WHO). The study also found that SP performance and firm size has a positive and significant relationship with CSER initiatives. The analysis of contributors from listed and non- listed firms in Nigeria towards COVID-19 reveal that only corporate organizations with adequate resource slack can make significant contributions to curtail the spread of the epidemic. The study recommends that corporate organizations should pursue financial capacity in other to make significant CSER investments and expect a change in societal demands and stakeholder expectations in the no distant future.the collaboration of banking institutions and micro businesses in financing.

Keywords: Covid-19; pandemic; share price; slack resources; World Health Organization (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:jfr:ijfr11:v:11:y:2020:i:6:p:211-218

DOI: 10.5430/ijfr.v11n6p211

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