Abstract
This study empirically investigated the relationship between firm structure and corporate
philanthropy before, during and after covid-19 pandemic period. In order to determine the
relationship between firm structure and corporate Philanthropy, firm structure was proxy using
firm size, firm leverage, firm age and firm cash holding while corporate Philanthropy on the other
hand was measured using the ratio of Philanthropy and total assets. Four hypotheses were
formulated to guide the investigation and the statistical test of parameter estimates was conducted
using panel regression model operated with STATA 14. Ex Post Facto design was adopted and
data for the study were obtained from the published annual financial reports of listed deposit
money banks on the Nigerian Exchange Group (NGX) spanning from 2012-2022. The results of
the study shows that the relationship between firm size and corporate Philanthropy is negative in
both the pre covid and post covid period but statistically significant. Firm leverage also has a
negative effect on corporate Philanthropy both in the pre covid and post covid period and
statistically insignificant. Firm age on the other hand was found to have positive and insignificant
effect on corporate Philanthropy both in pre and post covid 19 pandemic period while there is no
difference in the direction of effect of firm cash holding on corporate Philanthropy both in the pre
and post covid periods. The study therefore concludes that firm structure determines corporate
nations in listed deposit money banks in Nigeria. In the light of the findings of the study, it was
recommended that since leverage negatively affects Philanthropy, prudent leverage management
can help maintain financial flexibility for corporate philanthropy. Also, managers need to monitor
corporate leverage and ensure that high leverage does not unduly limit a company's ability to
make charitable contributions.