CORPORATE PHILANTHROPY AND CORPORATE PERFORMANCE OF PUBLIC CORPORATIONS: EVIDENCE FROM NIGERIA

CORPORATE
PHILANTHROPY AND
CORPORATE PERFORMANCE OF
PUBLIC CORPORATIONS:
EVIDENCE FROM NIGERIA
Joy Ifeoma Enemuo,
Department of Management, University of
Nigeria, Enugu Campus.
joy.enemuo@unn.edu.ng
&
Chinyere Catherine Onyejiaku,
Department of Management, University of
Nigeria, Enugu Campus.
chinyere.onyejiaku@unn.edu.ng
&
Ben Etim Udoh,
Department of Management, University of
Nigeria, Enugu Campus.
etim.ben@unn.edu.ng
ABSTRACT
Corporate philanthropy (CP) refers to all of
the ways in which companies achieve a
sustainable positive social and economic
impact through strategic and generous use
of finances, employee time, facilities, or their
own products and services, to help others in
the community and support beneficial
causes. Although the strategic relevance of
corporate philanthropy is widely adopted by
many profit-making organizations, most not-
for-profit making organizations undermineBook of Abstract
its altruistic motives. This study examines the
relationship between corporate philanthropy
(CP) and corporate performance with
specific references to public corporations in
Enugu, Nigeria. The research design adopted
was a cross sectional survey design. The
population consisted of 515 staff of the three
randomly selected public corporations
(NIPOST, NTA and Radio Nigeria) in Enugu
State, Nigeria. A total sample size of 443 was
drawn from the population using a finite
population formula of Krejcie and Morgan
(1970). The main instrument used for data
collection was questionnaire, structured on
5-point Likert Scale and was manually
administered to the respondents. A pilot
study was conducted using test – retest
method and tested with Cronbach Alpha
reliability test. The result gave a reliability
coefficient of 0.77.4, indicating a high degree
of items consistency. Face and content
validation of the instrument was done by five
research experts from both the industry and
academia. The hypothesis formulated was
tested using Friedman chi-square statistics.
The finding indicates a positive significant
relationship between corporate philanthropy
and the corporate performance of public
corporations in Nigeria since the former
contributed significantly to the effective
performance of the selected organizations. It
was advised that public corporation’s
corporate philanthropy (CP) should ideally be
driven by strategic considerations. This is not
to dismiss the other motivations for
corporate philanthropy. Hence, the altruistic
motives which expect nothing in return for
return for a philanthropic gift other than
social advancement should dominate the
thinking in public firms.
Keywords: Non-Profit Firms, Corporate
Philanthropy, Altruistic Motives, Public
Corporations

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