Abstract:In this study, we examine the impact of foreign direct investment (FDI) on the financial performance of Nigerian listed deposit banks. We collected secondary data from the annual reports and accounts of 14 banks between 2010 and 2017. We employed the Tobin Q quantitative method for the analysis. We adopted the theoretical framework of pecking order theory since the analysis of the impact of FDI on the financial performance of these banks are both inward and outward FDI. The Tobin Q method was used as the depen… Show more
“…Data were collected annually across the sample period model from the Central Bank of Nigeria (CBN) statistical bulletin, Federal Inland Revenue Services and the National Bureau of Statistics (Lawal et al, 2016;Eluyela et al, 2018aEluyela et al, , 2018bAsaleye, Adama & Ogunjobi, 2018;Oladipo et al, 2019aOladipo et al, , 2019b. The outputs of the OLS regression is subjected to statistical tests which include R 2 , t-test, and F-test to determine the significance of each independent variable stated in the model (Adegboyegun et al, 2020b;Nwanji et al, 2020). Other tests used include the Unit Root test, Co-integration and Error Correction Model (Asaleye et al, 2019;Lawal et al, 2018;Eluyela et al, 2019aEluyela et al, , 2019b.…”
This study presents an empirical analysis of the impact of capital flight on tax revenue in Nigeria. We made use of secondary data collected from the Central Bank of Nigeria Statistical Bulletin of various issues, Federal Inland Revenue Services and National Bureau of Statistics. The empirical measurement covers the sample period between 1980 and 2015. An Ordinary Least Square, Augmented Dickey-Fuller unit root test, Error Correction Mechanism and Co-integration test was adopted in the study. The results revealed that the Gross Domestic Product has a significant effect in the positive direction, while capital flight and inflation rate have a significant effect in the negative direction. The study recommended that the Federal Inland Revenue System, the department saddled with the responsibility of tax collection, should review the tax system and policies with the aim of plugging loopholes in the existing tax system thereby preventing organizations from evading and avoiding taxes.
“…Data were collected annually across the sample period model from the Central Bank of Nigeria (CBN) statistical bulletin, Federal Inland Revenue Services and the National Bureau of Statistics (Lawal et al, 2016;Eluyela et al, 2018aEluyela et al, , 2018bAsaleye, Adama & Ogunjobi, 2018;Oladipo et al, 2019aOladipo et al, , 2019b. The outputs of the OLS regression is subjected to statistical tests which include R 2 , t-test, and F-test to determine the significance of each independent variable stated in the model (Adegboyegun et al, 2020b;Nwanji et al, 2020). Other tests used include the Unit Root test, Co-integration and Error Correction Model (Asaleye et al, 2019;Lawal et al, 2018;Eluyela et al, 2019aEluyela et al, , 2019b.…”
This study presents an empirical analysis of the impact of capital flight on tax revenue in Nigeria. We made use of secondary data collected from the Central Bank of Nigeria Statistical Bulletin of various issues, Federal Inland Revenue Services and National Bureau of Statistics. The empirical measurement covers the sample period between 1980 and 2015. An Ordinary Least Square, Augmented Dickey-Fuller unit root test, Error Correction Mechanism and Co-integration test was adopted in the study. The results revealed that the Gross Domestic Product has a significant effect in the positive direction, while capital flight and inflation rate have a significant effect in the negative direction. The study recommended that the Federal Inland Revenue System, the department saddled with the responsibility of tax collection, should review the tax system and policies with the aim of plugging loopholes in the existing tax system thereby preventing organizations from evading and avoiding taxes.
“…Panel data involves both cross-sectional and time-series method (Adegboyegun et al, 2020;Lawal, Babajide, Nwanji & Eluyela, 2018;Oladipo et al, 2019a;. Hence, this study adopts this method because the data gathered were both time-series and cross-sectional data (see Nwanji et al, 2020). Correlation analysis was carried out to observe the relationship between the independent and dependent variables (Adetula, Eluyela, Akomolafe, Ilogho and Adubi, 2016;Oladipo et al, 2019c).…”
The main aim of this paper is to examine the impact of institutional investor’s ownership on the financial performance of deposit money banks listed on Nigerian stock exchange (NSE). The time frame for this study is 2011-2018. Data was generated from annual reports of 15 deposit money banks listed on NSE. The result of the panel data methodology shows a positive and significant relationship between institutional investor’s ownership and banks financial performance. The study recommended that management of banks should give more attention to the large institutional shareholders due to their influence on the growth and survival of the company.
“…It is widely regarded as the evaluation of the performance of the executive directors of the company by, or for, the company's stakeholder groups. Nwanji and Howell (2007) Corporate governance is also about guiding management through managing the affairs of the company leading to the achievement of the companies' objectives, whether those objectives are shareholdership or stakeholdership, as long as management keeps within the rules of the game (Friedman, 1970;Nwanji & Howell, 2005;Nwanji et al, 2020). Nwanji and Howell (2007) stated that:…”
The credibility of financial reporting is crucial as it assures the user of its authenticity. In this study, we examined the effect of audit committee quality on the quality of financial reporting of deposit money banks in Nigeria. A descriptive research design was adopted and secondary data sourced from annual accounts of seven deposit money banks for seven years were used to test our hypotheses. The dependent variable in this study is financial reporting quality measured with accrual model. In contrast, the independent variables are the number of members on the audit committee with accounting and finance knowledge, the size of the audit committee, the number of audit committee meetings held in a year and audit committee independence. Descriptive statistics, normality test, a multicollinearity test and regression analysis were used to examine the data. A notable outcome revealed that except for several audit committee meetings held in a given year the other independent variables were found to be insignificant and are not, therefore, determinant of financial reporting quality in deposit money banks in Nigeria. The study concluded that audit committee quality is not a determinant of financial reporting quality in deposit money banks in Nigeria and the study recommends that ability should be paramount for the appointment of members to the audit committee and advises that the audit committee should always be given adequate consideration by management in decision making. Contribution/Originality: This study is one of very few that has investigated the effect of audit committee quality on the quality of financial reporting of deposit money banks in Nigeria using an accrual model.
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