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| Social Philanthrophy and Firm Performance in Covid- 19 Pandemic in Nigeria. |
Ndubuisi-Okolo Purity.U.(Ph.D), Stella Chinelo Nwagbala(Ph.D), Akunroluyo Bankole Isaac, Nwankwo Catherine
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Abstract:
This paper concentrates on social philanthropy and firm performance in Covid-19 pandemic in Nigeria. Specifically, the study sets out to determine the nature of relationship that exists between grant allowance and firm market share and to examine the effect of philanthropic donation on firm revenue generation. The study employed survey research design. The population of this study comprised of Staff of the thirty-four registered and unregistered Firms that contributed immensely to cushion the effect of the pandemic on both its employee and other firms. The total population of this study was six hundred and twenty four (624). The sample size of one hundred and sixty (160) was arrived at using Taro Yamane formula (1964). Data were generated through structured questionnaire which is a primary data designed to elicit vital information from the respondents. The formulated hypotheses were tested using inferential statistical tools (Simple regression and Pearson Product Moment Correlation Coefficient). The results of the analyses revealed that there is a significant positive relationship between grant allowance and firm market share in Covid-19 pandemic in Nigeria(r=.730, p<0.05).Also, there is a statistical significant effect of philanthropic donation on revenue generation in Covid-19 pandemic in Nigeria(r=.720, F=.016, t=10.902, p<0.05). Therefore, we recommended that organizations with corporate reputation blended with philanthropic spirit and good financial standing in conjunction with government at all levels should provide all the necessary assistance to other firms that are not yet financially stable in order to create a solid foundation for them.
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