EXAMINING CORPORATE SOCIAL RESPONSIBILITY AS A RISK MANAGEMENT STRATEGY
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ABSTRACT
This study investigated the impact of corporate social responsibility practices on risk management of mining firm in Nigeria. The study used generalized least square multiple regression to analyze the secondary data extracted from the annual reports and accounts of Jobayo mining firm, Ibadan. for the period of ten years from 2006 to 2016. The study found that environmental management, and customer services have a positive and significant impact on the risk management of mining firms. The study also found that corporate community development influences the risk management of the firms positively and insignificantly. In view of the findings, the study concluded that, though environmental management is having a negative effect, the firm’s engagement in environmental management could be of corporate strategic relevance as not all investment can be a risk management strategy. Also, the study recommended among others that the management of Jobayo mining firm, should patronize more of strategic CSR activities in order to be more credible which can improve their reputation since the application of CSR varies by industry.
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