Tax Planning, Corporate Governance and Financial Performance of Selected Quoted Non-Financial Companies in Nigeria (2007–2018)

IF 0.9 Q3 ECONOMICS

Organizations and Markets in Emerging Economies Pub Date : 2021-12-22 DOI:10.15388/omee.2021.12.59

John Olayiwola,Stephanie Okoro

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引用次数: 0

Abstract

This study examines the interactive effect of tax planning and corporate governance on the financial performance of 50 non-financial quoted companies in Nigeria between 2007 and 2018. The study sample that covers 9 sectors was selected purposively through stratified random sampling. Data used were collected from the audited annual reports and accounts of selected quoted companies in Nigeria and fact books published by the Nigeria Stock Exchange. A system GMM was employed to estimate the dynamic models, and results show that ownership structure (OS) and capital intensity (CI) exerted a significant and positive impact on the returns on assets. This implies that OS plays a significant role to ensure that CI triggers an increase in the return on assets of the quoted Nigerian companies. However, board diversity and thin capitalization wielded a significant and negative influence on return on assets. This study thus recommends that companies should put in place a strong corporate governance mechanism that will monitor, check and balance tax planning activities and strategies adopted by the management of quoted companies in Nigeria.

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尼日利亚非金融类上市公司税收筹划、公司治理和财务绩效分析(2007-2018)

本研究考察了2007年至2018年间尼日利亚50家非金融类上市公司的税务筹划和公司治理对财务绩效的互动影响。采用分层随机抽样的方法，有目的地选取了涵盖9个行业的研究样本。所使用的数据收集自经审计的年度报告和尼日利亚选定上市公司的账目以及尼日利亚证券交易所出版的事实手册。采用系统GMM对动态模型进行估计，结果表明股权结构(OS)和资本密集度(CI)对资产收益率具有显著的正向影响。这意味着操作系统在确保CI触发尼日利亚上市公司资产回报率的增加方面发挥着重要作用。然而，董事会多元化和资本稀薄对资产回报率产生了显著的负面影响。因此，本研究建议公司应建立强有力的公司治理机制，以监督、检查和平衡尼日利亚上市公司管理层采用的税收筹划活动和战略。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Organizations and Markets in Emerging Economies ECONOMICS-

CiteScore

1.60

自引率

0.00%

发文量

审稿时长

20 weeks

期刊介绍： The journal aims to contribute to the development and dissemination of multidisciplinary knowledge on organizations and markets in emerging economies, to increase dialogue among scholars focused on a specific emerging economy or region and to encourage and give an outlet to high quality scholarship, both local and international, to this subject. Organizations and Markets in Emerging Economies welcomes analysis of emerging economies from the perspectives of organizational sciences, marketing, economics, finance and related disciplines. The journal appreciates studies that highlight specificities and patterns that occur in emerging economies and develop new empirical and theoretical knowledge on the subject.