The growing pace of the globalisation process has triggered economic development, especially among developing nations. One of the immediate responses to this phenomenon is the increasing trend of Foreign Direct Investment flows among countries driven by some factors. This paper aimed at determining the impact of tax incentives (tax holiday and custom duty exemption) on Foreign Direct Investment inflow into Nigeria over the period 2008-2018. Using secondary data obtained from the Nigerian Investment Promotion Commission, Central Bank of Nigeria and Nigerian Customs Service, Driscoll-Kraay Standard Errors regression analysis was used via STATA version 14 to test the research hypothesis. The study's findings revealed that tax incentive has a positive and significant impact on Foreign Direct Investment inflow. Specifically, tax holiday has significant positive effect on FDI at 5% level of significance (β=0.1578; t=3.99; p<0.05) while custom duties exemption reported significant positive effect on FDI at 1% level of significance (β=0.2436; t=5.61; p<0.01). It is recommended that the government maintain and strengthen its policies on tax holidays and customs duties exemption to improve Foreign Direct Investment inflow, thereby developing the national economy.
Intellectual Capital and Value Creation of Listed InsuranceCompanies in Nigeria: Is Innovation Capital Matter?1. Introduction In today's economy intangibles assets are the major drivers of wealth and growth. With emergence of the new economy it is a known fact that the value creation depends far less on their physical assets than on their intangible ones. These assets, often described as intellectual capital, are being recognized as the foundation of individual, organizational and national competitiveness in the twenty-first century (Wigg, 1997; Bounfour & Edvinsson, 2005). As noticed by Pike, Rylander and Roos (2002), 'as the business society is developed, the key step in value creation has ascended an intellectual staircase'.Intellectual capital has been identified as a set of intangibles (resources, capabilities and competences) that drives the organizational performance and value creation (Roos &Roos, 1997; Bontis, 1998; Bontis, Keow & Richardson,2000). This suggests causal relationships between intellectual capital and organizational value creation (Marr & Roos, 2005). However, intangible assets seldom affect performance directly. Instead, they work indirectly through relationships of cause and effect (Kaplan & Norton, 2004).Despite the tremendous theoretical improvement during the last years, intellectual capital phenomenon requires theory and research methodology that enhances the integration of theory construction and theory testing. Research in intellectual capital is actually, at critical cross-roads with increased emphasis on developing theoretical concepts and testing relationships guided by such concepts. It is vital to consolidate some findings, namely arrive at a set of operational measures that meet minimal criteria of measurement (Maria & Jorge, 2005).Intellectual capital that has been theoretically raised in the last few years throughout the world is seen as one of the most value-creating resources in entrepreneurial growth of firms, hence the need to develop and manage intellectual capital has become a serious obligation in the national level and in the business arena in such a way that the emergence of knowledge-based economy can be observed (Iranmahdi, Moeinaddin, Shahmoradi & Heyrani, 2014).However, the traditional accounting has been used over 500 years ago as the basis for the current financial report which fails to adapt to the changes in the economy, especially in knowledge-asset reporting requirements (Widyaningdyah, 2008); this is because the financial statements are not able to present the relevant information regarding the amount of the value of the intangible asset so that it can influence corporate policy. Failure to report knowledge-assets by the traditional accounting can be seen from the phenomenon that occurs in some large companies such as knowledge-
This study investigated the effect of firm attributes on financial reporting quality of listed consumer goods companies in Nigeria from 2008 -2017. Financial reporting quality is likely to be influenced by their structure, monitoring and performance characteristics. Firm size, board composition, profitability and firm growth were selected as proxies for firm's attributes. Financial reporting quality was measured by the modified model of Jones (1991). Panel multiple regressions were employed to test the formulated hypotheses and provide answers to the research questions. The result reveals profitability, board composition and firm growth to be statistically significant with financial reporting quality while firm size is statistically insignificant. Three variables, board composition, profitability and firm growth increases the quality financial information of the listed consumer goods companies in Nigeria, meanwhile, firm size has proven to reduce the quality of their financial reports.
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