International Journal of Business and Finance Management Research
ISSN: 2053-1842
Vol. 3(9), pp. 90-97, November 2015



Corporate social responsibility and consumer buying behavior in the Nigerian oil and gas sector

Samuel N. Akanno1*, Ferdinand Che2, Abubakar Radda2 and Ifeatu Uzodinma1

1Department of Accounting and Finance, School of Business and Entrepreneurship, American University of Nigeria, Yola, Nigeria.
2Department of Entrepreneurship Management, School of Business and Entrepreneurship, American University of Nigeria, Yola, Nigeria.

*To whom correspondence should be addressed. E-mail: snakanno@gmail.com.

Received 26 September, 2015; Received in revised form 02 November, 2015; Accepted 05 November, 2015.

Abstract


Keywords:
Cooperate social responsibility, Buying behavior, Competitive advantage, Oil and gas sector.


Recently, corporate social responsibility (CSR) has gained widespread support from businesses as part of their agenda for profit maximization and strategy for improved social image. Retail organizations in the Nigerian oil and gas industry are at varied levels in their adoption of CSR initiatives because of different perceptions and beliefs of the importance of CSR. Though some believe that CSR has little or no impact on consumers’ buying behaviors, others significantly believe that CSR initiatives are very impactful and important for profit-maximization, through increased customer patronage and loyalty. This study was conducted in the hope to find out why Nigeria’s oil and gas retailers make certain CSR decisions, the veracity of CSR assertions by these entities, as well as gain insight into consumers’ CSR consideration. Rapid technological advancement in conjunction with the ease of information flow has led to increased spread of information on organizations’ CSR. Though much work remains if organizations must improve on CSR, some Nigerian oil and gas entities appear to be benefiting from buying behaviors of consumers that greatly depend on these organizations’ CSR activities.

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