The study investigated environmental accounting disclosure and financial performance of listed multinational companies in Nigeria. This study was conducted by firstly assessing the level of compliance, and then exploring the effect of environmental disclosure on financial performance with a focus on multinational companies in the face of continued environmental abuse witnessed in the Nigerian business space owing to the non-availability of sustainability reporting legal framework. The study used secondary data obtained from the published annual reports of the companies from 2011 to 2020. Data collected (Environmental disclosure index, return on asset, earnings per share), were analyzed using descriptive statistics and panel regression analysis. It was discovered that in assessing level of compliance, out of the three sectors assessed, oil and gas was the least compliant. Also, results showed that environmental accounting disclosure had a significant and positive effect on earnings per share (EAPS) but a negative and insignificant effect on return on asset (RETA). The study, therefore, concluded that the extent of responsiveness of companies to environmental accounting disclosure influences how the company is valued.The study, therefore, recommended that multinational companies and other Nigerian firms, should make effort to disclose their environmental-related activities even though it is not required by law, as it has shown evidence of its influence on earnings on shares of companies.
This study assessed the effectiveness of tax enforcement tools as panacea for improving tax compliance and overall tax income in the Ondo State, Nigeria. Survey research design was adopted using primary data sourced through administration of structured questionnaire on 150 selected respondents from among staff of Federal Inland Revenue Service and State Board of Internal Revenue Service within the state. The Taro Yamane formula and judgment sampling technique were used to arrive at the sampled respondents. Outcome of Ordinary Least Square regression analysis showed regression coefficient and p-value of tax-audit (0.278; p=0.03<0.05) and tax penalty (0.463; p=0.000<0.05) respectively, indicating a positive and significant relationship of the two explanatory variables with tax compliance at .05 level of significance. The Implication is that a marginal increase in tax audit and tax penalty will lead to increase in tax compliance in Ondo State. No meaningful association exists between tax amnesty and tax compliance based on the finding of this study perhaps tax amnesty is a new policy that was just launched to encourage voluntary tax compliance. As such, it is imperative that tax audit and imposition of tax penalties be encouraged and sustained. These are envisaged to further improve the degree of tax compliance, consequently enhancing government tax revenue generation to augment dwindling oil revenue in Nigeria. As regards relatively new and still under watch tax amnesty, it may turn out to be a veritable tool for voluntary compliance in future if properly nursed.
Abstract:We ascertain the impact of board oversight functions on the financial performance of listed companies. The study covers the entire 186 companies listed on the Nigeria stock exchange for a period of five years between 2010 and 2014. Three aspect of board oversight function which includes the audit committee function, risk management committee function and remuneration/human capital committee function were considered in this study in line with the provision of (SEC) code of corporate governance and (OECD) code of corporate governance. Return on capital employed and earnings per share were used as the measures of firm financial performance. We conducted both descriptive and inferential statistics on a set of data extracted from the audited financial statement of the listed companies. The descriptive statistics include the mean, standard deviation, minimum and maximum value for each variable while the inferential statistics includes the univariate t-test and multivariate regression analysis. The findings of this study revealed that board oversight function have significant impact on the financial performance of listed companies in Nigeria. The significant relationship between the board oversight functions and financial performance reported in this study have been asserted in previous literature in Africa (Beltratti & Stulz, 2009) and Asia (Fahlenbrach & Stulz, 2009; Fernandes & Fich, 2009) which implies that this might be the global trend on the topic. Thus, the general hypothesis which predicts a significant 1 Corresponding author: Department of Accounting, Bowen University, Iwo, Osun State, Nigeria; tel. +2348066308115; email: oyeezekiel2903@yahoo.comThe impact of board oversight functions on the performance of listed companies in Nigeria relationship between board oversight function and firm financial performance cannot be rejected. Therefore, the recommendations emanating from this study is that concerted efforts should be put in place by the security and exchange commission to ensure strict compliance with regulations regarding the formation of audit committee and other oversight committees by the Nigerian listed companies.
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