THE INFLUENCE OF CORPORATE SOCIAL RESPONSIBILITY ON STOCK VALUES: AN EXAMINATION OF MANUFACTURING COMPANIES IN NIGERIA

Abstract

The past three decades have witnessed a substantial surge in Corporate Social Responsibility (CSR) investments, driven by growing awareness of the adverse impacts of corporate operations on communities, the environment, and society at large. This has prompted heightened scrutiny from human rights organizations, socially conscious investors, and consumers, especially in the context of multinational companies (MNCs). The United Nations has also demonstrated its commitment to addressing these concerns, exemplified by the appointment of a United Nations Special Representative for business and Human Rights in 2005. However, the response from national governments has varied, with some hesitating to articulate clear definitions of CSR. This paper explores the evolving landscape of CSR, shedding light on the motivations, challenges, and implications for businesses, governments, and society