TAX AGGRESSIVENESS AND FIRM VALUE: EVIDENCE FROM INDUSTRIAL GOODS COMPANIES ON THE NIGERIAN EXCHANGE GROUP
TAX AGGRESSIVENESS AND FIRM VALUE: EVIDENCE FROM INDUSTRIAL GOODS COMPANIES ON THE NIGERIAN EXCHANGE GROUP
Author(s): Ebipanipre Gabriel MIESEIGHA, Joel Adeniyi OkewaleSubject(s): Business Economy / Management, Economic history, Economic policy, Transformation Period (1990 - 2010), Present Times (2010 - today), Fiscal Politics / Budgeting, Accounting - Business Administration
Published by: Univerzita J. Selyeho, Fakulta ekonómie a informatiky
Keywords: tax aggressiveness; firm value; debt tax shield; non-debt tax shield; effective tax rate;
Summary/Abstract: This study assessed the relationship between tax aggressiveness and firm value of industrial goods companies listed on the floor of the Nigerian Exchange Group. The ex-post facto research design was adopted, and secondary data was obtained from the annual reports and accounts of the selected companies from 2006 to 2020. Data obtained were analyzed using descriptive, ordinary least square estimation, fixed and random effects statistical techniques. The study’s findings showed that tax aggressiveness has an insignificant effect on the firm value on listed industrial goods companies in Nigeria. Impliedly, when companies employ tax aggressiveness strategies, the firm’s value will decrease. Based on the findings, it was recommended that listed industrial goods companies on the floor of the Nigerian Exchange Group should instead not focus on aggressive tax measures aimed at decreasing the firm’s value. Again, there is a need to ensure that the code of governance provision and tax implementation have been strictly adhered to.
Journal: Acta Oeconomica Universitatis Selye
- Issue Year: 10/2021
- Issue No: 2
- Page Range: 59-69
- Page Count: 11
- Language: English