Corporate Social Responsibility (CSR) Benchmarked Parameters for Construction Firms In Developing Economy

It is a common fact that the phenomenon of corporate social responsibility (CSR), is gradually taking ground in developing countries. Stakeholders are now coming up to the fact that there is need for system and environmental compensation as case demands especially of oil companies and construction companies. Many developing countries are passing through political, social, economic and cultural transformation, considering the agitation for companies and orientation to give back to the economy and society. However, there is dearth of context-driven research about CSR executed by construction companies and organization while social, political and economic context makes Nigeria a good setting. To this end samples were taken of the company operating in Nigeria considering the centres with high concentration of construction companies to explore their CSR initiatives with a view to developing benchmarked parameters that could guide in effective configuration and management of CSR among organizations. Ninety-six (96) samples of respondents was used for the survey while the relevant parameters were explored. The study therefore proposed a regression-based model. Regression method was used to fine-tune selected parameters and reduced to sizeable number using Factor analysis of categorical regression analysis. Factors with Eigen value between 0 and 1 were used in developing a Hedonic model that captured the parameters. The model proposed could assist in the practice of CSR configuration and administration by construction companies and other firms and organization.