ABSTRACT:- There has been growing significance of corporate social responsibility (CSR) among firms globally, and Nigeria in particular, where it has been common practice since the early 2000s. The study investigates firm liquidity and profitability and their influences on corporate social responsibility (CSR) expenditure of the listed manufacturing firms in Nigeria. The study used ex-post facto and panel data regression analysis with the aid of STATA version 13 (2025) to examine the relationship between the firm characteristics and CSR expenditure on thirty-five (35) purposively selected listed manufacturing firms in Nigeria, for the 2014 to 2023 financial years. The firm characteristics which stand as independent variables were proxy by liquidity ratio and firm profitability (FP), while firm age was used as a control variable. The findings showed that there is a negative but insignificant relationship between firm liquidity and corporate social responsibility (CSR) expenditure while a positive but insignificant relationship between firm profitability and corporate social responsibility (CSR) expenditure. However, firm age plays a more notable role in influencing CSR expenditures as it shows positive and significant relationships between the variables. It was concluded that profitability and liquidity were not significant in affecting the corporate social responsibility (CSR) expenditure of the listed manufacturing firms in Nigeria. Therefore, it is recommended that firms with higher liquidity should adopt a structured framework for CSR allocation to ensure that financial flexibility translates into tangible social and environmental contributions, and firms with high profitability should be encouraged to integrate CSR into their strategic plans if it does not already exist.

KEYWORDS:- Corporate Social Responsibility, Firm Characteristics, Firm Liquidity, Return on Equity, Manufacturing Firms