This study which is on the influence of taxpayers' perception of public sector fiscal responsibility on voluntary tax compliance is motivated by the quality of government fiscal responsibility, the level of tax compliance by the public and the reported low level of tax buoyancy and elasticity in Nigeria. The study adopts cross sectional survey research design. Four hundred and three (403) copies of valid questionnaire were used for the study; this represents 85% of the respondents. The collected data were analyzed using both descriptive and inferential statistics. The proposed hypotheses for the study were tested using regression analysis. The study provides evidence to show that voluntary tax compliance is low in Rivers State, Nigeria as on the average, voluntary tax compliance produced a mean score of 2.0928 and standard deviation of 0.469592.The study also provides evidence indicating that public accountability, government fiscal transparency, balanced and surplus budget, public information dissemination and government public engagements are key drivers of voluntary tax compliance and their relationships with voluntary compliance are positive and significant. Hence, it could be reasonably concluded that voluntary tax compliance is lacking in Rivers State leading to the recommendations that revenue authorities in Rivers State, Nigeria should intensify efforts to identify, register and bring to the tax net all eligible taxpayers operating in the formal and informal sectors by synergizing with financial firms and various professional bodies and trade unions. Public institutions should make public accountability and fiscal transparency their core mandate so as to earn public confidence geared towards improved tax compliance behaviour.
There has been a long debate on what constitutes the financial performance of a firm. The thrust of this paper therefore was to determine the financial performance of quoted and unquoted firms in Nigeria using asset base and revenue as critical determinants. The study is hinged on the philosophy and perception that quoted firms performs better than unquoted firms. A sample of Eighteen (18) firms was selected, nine apiece for quoted and unquoted companies. The analysis of the firms covered a period of nine years from 2008 to 2017. Vital information from the selected firms’ audited financial reports for various years were collected and analyzed. A Panel data fixed effect was used to determine the financial performance of quoted and unquoted firms while a paired sample statistics test was used in comparing the mean difference of both firms. Empirical results indicate that asset base and revenue have positive impact on the financial performance of quoted firms while only revenue has a positive relationship with financial performance of unquoted firms. The study concludes that there is a difference in the financial performance of quoted and unquoted firms in Nigeria. This difference may have emanated from the fact that unquoted companies lack the financial muscle that could be garnered by quoted firms; thus necessitating the recommendations that the Nigerian Stock Exchange should review its listing requirements to accommodate unquoted companies intending to be quoted.
Integrated reporting (IR) is an emerging field of corporate reporting devised for corporate entities to ensure sustainable value creation in the short, medium and long term. The major thrust of this paper therefore was to determine the extent of the adoption of integrated reporting principles and practices as contained in the framework by quoted firms in Nigeria. Due to paucity of data from reporting entities on the implementation of integrated reporting, a documentary combined with descriptive research approach was adopted. Sample size was determined using the purposive random sampling method, which led to the selection of one (1) critical company from each sector making a total of twelve (12) companies quoted in the Nigerian Stock Exchange. This study will provide a new and deep introspection for companies intending preparing and presenting integrated reports and those already doing so. The result of the tested hypothesis shows a significant f-value of .65 (P-value = .089 > .05); thus leading to the acceptance of the null hypothesis. This indicates that there is no significant evidence of integrating reporting adoption and practice by quoted companies in Nigeria. This result is due possibly to the recency of integrated reporting disclosures and the lack of legislative framework to support it in Nigeria. Predicated on the result, it was recommended that companies quoted on the Nigerian Stock Exchange should be enlightened and motivated to adopt the integrated reporting principles and practices as this will promote the accountability and transparency framework of the firms. In addition, the full adoption of integrated reporting frameworks should be made one of the key requirements for companies to be listed on the Stock Exchange.
Nations create Sovereign Wealth Funds to accumulate, save and invest excess liquidity that arise from natural resources and other excess funds in infrastructural developments and in achieving other policy objectives. The paper thus investigated sovereign wealth fund as an effective tool for public financial management and economic sustainability with a particular focus on Nigeria. The exploratory and descriptive research design approach was adopted in evaluating the sovereign fund model as an alternative to public resources management. The paper reveals that sovereign wealth funds can be helpful to a nation especially in the time of economic crisis as it could be used to minimize government revenues volatility rate as well as to build up the level of savings for future generation ( r = 0.689 and 0.763 for volatility rate and saving for future generation respectively and p-values < 0.05). However, it is discovered that to produce the intended results, the fund must form part of the home country policy document and must be prudently invested. Based on these findings, it is recommended that regulatory body must strengthen the accountability framework around the fund. To this end, there should be fiscal discipline, probity and transparency in the investment, management and reporting of the fund. Nigeria is thus encouraged to sign up and uphold the Santiago principles and guidelines proposed in 2008 for the promotion of global best practices in National Sovereign Wealth Funds operations and management.
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