Investment returns are the yardstick through which the success of any business organization is measured. Firms are always striving to achieve better performance and provide more returns to shareholders. In order to achieve better performance firms, engage in activities that affect their immediate environment and the welfare of their employees as well as their host communities and as such firms are expected to show commitments towards controlling their externalities. This can be achieved through corporate social responsibility. The study examines the effect of corporate social responsibility on investment returns of listed deposit money banks in Nigeria. The population of the study consists the entire deposit money banks listed in the Nigerian exchange group. A sample of 12 banks were arrived at using census sampling techniques. Data for the study were collected using the secondary method of data collection from the annual report and accounts of the selected banks. The findings of the study reveal that corporate social responsibility has a significantly positive effect on investment returns of listed deposit money banks in Nigeria. Based on these, the study recommends among others that, Listed deposit money banks should make the most of their investments in social responsibility by making sure they are connected to or linked to successful operations, Given that the share of expenditures for corporate social responsibility is low, banks must boost their spending in this area if they are to improve their performance and Regulatory authorities like Nigerian exchange group should make it compulsory for firms to account and report on their corporate social responsibility.
Musa et al. (Mon,) studied this question.