INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2456-4184 | Impact factor: 8.76 | ESTD Year: 2016
Scholarly open access journals, Peer-reviewed, and Refereed Journals, Impact factor 8.76 (Calculate by google scholar and Semantic Scholar | AI-Powered Research Tool) , Multidisciplinary, Monthly, Indexing in all major database & Metadata, Citation Generator, Digital Object Identifier(DOI)
This study investigates the impact of CSR disclosure on market valuation for deposit money banks in Nigeria. Consistent with the stakeholder theory, the study identifies four dimensions of CSR disclosure: namely, community, employee, government, and shareholders, and estimate their relative impacts on market price per share using a sample of 12 listed deposit money banks in Nigeria for the period from 2010 to 2021. Using the conventional panel estimation methods, we find that none of the CSR disclosure variables exerts a statistically significant effect on market valuation of the sampled banks. However, consistent with the fixed effect theory, our results also show that unobserved bank-specific factors such as organizational culture, and management style and philosophy are significant factors explaining the movements of bank prices in the stock market. Based on these findings, we conclude that investors in the Nigerian banking industry do not assign significant premium to information relating to banks’ CSR activities in their pricing or valuation model.
Keywords:
CSR disclosure, market valuation, panel data
Cite Article:
"CORPORATE SOCIAL RESPONSIBILITY DISCLOSURE AND MARKET VALUATION OF LISTED DEPOSIT MONEY BANKS (DMBs) IN NIGERIA", International Journal of Novel Research and Development (www.ijnrd.org), ISSN:2456-4184, Vol.8, Issue 10, page no.b866-b875, October-2023, Available :http://www.ijnrd.org/papers/IJNRD2310194.pdf
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ISSN:
2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar| ESTD YEAR: 2016
An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.76 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator
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