Social Responsiveness Reporting Model and Financial Performance of Quoted Multinationals in Nigeria

The research focused on the interactive effects of social responsiveness reporting model on performance of nine [9] quoted oil and gas multinationals from 2011 to 2022 [12 years]. This research expanded prior studies by disaggregating social responsiveness model into disclosure of diversity and equal opportunities, employee support initiatives, charitable contributions, whistle blowing, and employee health and safety while financial performance was measured by return on investment [ROI]. The Hausman test provided justification on the most efficient/robust panel regression estimate. The study reported that diversity and equal opportunities and employee support initiatives affected firm performance minimally since less attention is placed on them. However, charitable contributions, whistle blowing, and employee health and safety had a direct considerable effect on ROI of targeted oil and gas multinationals. The research concludes that charitable contributions, whistle blowing, and employee health and safety are highly strategic business model that management of sampled firms can use to achieve outstanding ROI. The study therefore stressed that, oil and gas multinationals should fully integrates social issues into their financial reports. Again, the study stressed that oil and gas firm need to priotize charitable contributions, whistle blowing, and employee health and safety should they desire to record high ROI. Hence, the paper submits that, managers of multinationals are advised to disclose more diversity and equal opportunities, employee support initiatives, whistle blowing, and employee health and safety. The study contributes meaningfully to social sustainability studies both in terms of theory and practice.