Global Journal of Management and Business Research, A: Administration and Management, Volume 23 Issue 5

Figure 5: Bar Chart of CSRempl Source: Researcher’s Computation from Data using Python Programming Language (2022) V. R esults and D iscussion of F indings Table 1: (Extract). Random, Fixed, Common and Robust Ols Results EFFECT RANDOM FIXED COMMON ROBUST OLS VARIABLE COEF. PROB. COEF. PROB. COEF. PROB. COEF. PROB. C 0.458562 0.0611 0.436000 0.1306 0.546902 0.0286 0.479788 0.0488 CSREMPL 0.099788 0.3372 0.073944 0.5826 0.232878 0.0259 0.267168 0.0087 AG -0.003277 0.0133 -0.008551 0.0329 -0 .004194 0.0002 -0 .004604 0.0000 LE 0.040776 0.3104 -0.007149 0.8732 0.107557 0.0140 0.092173 0.0300 CZ -0.056332 0.0881 -0.015768 0.7289 -0.072086 0.0313 -0.058578 0.0728 R 2 0.142033 0.575509 0.238182 0.252857 R 2 Adjusted 0.056237 0.450659 0.162000 0.178143 F-Statistics 1.655466 0.122437 4.609600 0.000001 3.126498 0 .003988 33.45147 0.000051 Source: Researcher’s computation using Eviews 10 (2022 ) Table 2: Summary of Regression Results and Discussion Hypothesis Regression model Results Results in agreement with that/those of Results in disagreement with that/those of Effect of CSR to employee robust pls (common effect) results Positive and significant Pan et al., (2014),Albahussain (2015),Usman and Amran (2015), Aggarwal (2013) negative and signicicant, Doutimiareye (2022) significant but negative, Gugong and Ayuba (2018) Iqbal, et al, (2012) in Enahoro et al., (2013) Source: Researcher’s Computation (2022) The effect of CSR on employees is positive and significant. This finding agrees with those of Pan et al. (2014), Albahussain (2015), Usman and Amran (2015), Aggarwal (2013) significant but negative, Doutimiareye (2022) significant but negative, Gugong and Ayuba (2018) significant but negative.This finding disagrees with that of Iqbal, et al., (2012), as cited in Enahoro et al. (2013). That is, a unit increases in CSRempl results in a 0 0.2 0.4 0.6 0.8 1 2 3 4 5 6 7 8 9 10 11 CSRempl YEARS BAR-CHART Series1 Effect of Employee Dimension of Corporate Social Responsibility on Financial Performance of Listed Consumer Goods Companies in Nigeria 8 Global Journal of Management and Business Research Volume XXIII Issue V Version I Year 2023 ( ) A © 2023 Global Journals In the Figure 5, CSRempl was highest in 2009, followed by 2011, 2019, 2009, and 2018, and lowest in 2017 and 2015. The effect of CSR on employees is positive and significant. That is, a unit increases in CSRempl results in a 0.27 increase in ROA.