Board Attributes And Corporate Social Responsibility Spending On Firm Value Of Listed DMBS In Nigeria: The Moderating Role Of Profitability

Abstract

This study examines the effect of board attributes and corporate social responsibility spending on firm value of listed DMBs in Nigeria: the moderating role of profitability. The research adopted an ex-post facto research design, and the secondary data was collected from 2012 to 2023. The sample consisted of eleven listed Deposit Money Banks (DMBs) and multiple regression was used to establish the moderating effect of profitability on these ethical relations. The ethical variables analyzed show that firm value is inversely sensitive to board size, with an indication that an increased board size is a disadvantage to the firm’s valuation and vice versa. Also, profitability moderates the effect of these ethical factors on firm value as evidenced in this study. Therefore, this study concludes that ethical considerations such as board size and csr spending are relevant determinants of the firm value of listed DMBs in Nigeria. This study strongly recommends that a deep focus on profitability and ethics together as profitability is an important moderator in enhancing the impact of board attributes and CSR spending on firm value.