Tax Strategic Behaviour and Financial Performance of Quoted Agro-Allied Firms in Nigeria
Keywords:
Thin Capitalization, Capital Intensity, profit After tax, Tax Strategic Behaviour and Financial Performance.
Abstract
Although there is a large literature on the relationship between tax strategic behavior and financial performance, there is no consensus about the nature of this relationship. The aim of this research is to analyse the relationship between tax strategic behavior and financial performance of listed agro-allied firms in Nigeria. secondary data on different types of tax strategic behavior and profit after tax from 2013-2023 were collected from central bank of Nigeria statistical bulletin, National Bureau of statistics and Federal Inland revenue Service. Descriptive statistics, ordinary least square regression analysis, augmented Dickey Fuller, Johansen Cointegration and error correction model were used in analyzing the data. The result indicate that tax strategic behaviour significantly relate to financial performance; explain about 82.4% of financial performance, research & development significantly relate to profit after tax. Thin capitalization and capital intensity were each found to not significantly relate to profit after tax. The study conclude that the exist a strong negative and significant relationship between tax strategic behavior and financial performance and recommends that amongst others that companies should put in place appropriate tax strategic behavior that will decrease their tax liabilities and therefore improve their overall corporate financial performance.
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References
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Abdul-Wahab, N.S. (2016). Malaysian multi-national companies (MNC): permanent and temporary nature of tax planning. Cogent Business and Management, 3: 1248644.
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Adeyemi, S.B., Omubude, S.I. &Udofia, I.E (2019). Important testing of intangible assets and quality of financial reporting of Nigerian manufacturing companies. Global Journal of Accounting,5(1),1-15
Akagbom, I.A., &Ejabu, F.E.(2018). Effects of thin capitalization and international law on performance of multinational companies in Nigeria. Journal of Accounting and Financial Management, 4(2),47-58
Akintoye, I.R., Adegbie, F.F. &Iheme-Onyeka, C.V. (2020). Tax planning strategies and profitability of quoted manufacturing companies in Nigeria. Journal of Finance and Accounting, 8(3), 148-157.
Akintoye, I.R., Adegbie, F.F., &Onyeka-Iheme, V. (2020). Tax planning strategies and profitability of quoted manufactory companies in Nigeria. Journal of Finance and Accounting, 8(3),148-157
Bariyima, D. K. & Cletus, O. A. (2014). Tax planning and corporate governance in Nigerian banks. European Journal of Business and Management, 6 (19), 235 – 243.
Belz, T., Hagen, D.V. & Steffens, C. (2019). Taxes and firm size: Political cost or political power? Journal of Accounting Literature, 42, 1-28.
Bundala, N.N.(2012). Do Tanzanian companies practice pecking order theory, agency cost theory or trade-off theory. An empirical study in Tanzania listed companies. International Journal of Economics and Financial Issues, 2(4),401-420
Chen, S., Chen, X., Cheng, Q. & Shevlin, T. (2010). Are family firms more tax aggressive than non-family firms. Journal of Financial Economics,95(1), 41-61.
Chen, Z., Cheok, C. K. &Raziah, R. (2016). Corporate tax avoidance and performance: Evidence from China’s listed companies Institutions and Economies,8 (3), 61-83.
Chukwudi, U.V., Okonkwo, O.T. &Asika, E.R. (2020). Effect of tax planning on firm value of quoted consumer good manufacturing firms in Nigeria. International Journal of Finance and Banking Research, 6(1), 1-10.
Chytis, E., Tasios, S., Georgopoulos, I. &Hortis, Z. (2019). The relationship between tax avoidance, company characteristics and corporate governance: evidence from Greece. Corporate Governance and Control, 16(4), 77 – 86.
Desai, M. A., & Dharmapala, D. (2009). Tax avoidance. Review of Economics and Statistics, 9(3), 537-546.
Desasi, M.A. & Dharmapala, D(2016). Corporate tax avoidance and high-powered incentives. Journal of Financial Economics, 76(1),145-176
Dharmarathna, D.G.(2020). Corporate tax planning and financial performance of companies listed in Colomba Stock Exchange International Institute for Applied research Skies Educational, 3(2),1-15
Dyreng, S. D., Hanlon, M., & Maydew, E. L. (2008). Longrun corporate tax avoidance. Accounting Review, 83 (1), 61-82
Fagbemi, T.O., Olaniyi, T.A. &Ogundipe, A.A. (2019). The corporate tax planning and financial performance of systemically important banks in Nigeria. EkonomakiHorizonti, 21(1), 15-28.
Fama, E.F. & Jensen, M.C.(1983). Separation of ownership and control. Journal of law and economics, 26 and foundations of organizational strategy. Michael C. Jensen, Harvard University Press.
Ftouhi, K., Ayed, A. &Zemzem, A. (2014). Tax planning and firm value: Evidence from European companies. International Journal of Economics and Strategic Management of Business Processes, 4(73-78).
Hanlon, M., &Heutzman, S.(2010). A review of tax research. Journal of Accounting and Economics, 50(2),127-178.
Herwati, E.B. &Kumala, R. (2020). Analysis of the implementation of tax planning in efforts to save corporate income tax expense in PT GMT year 2017. International Journal of trends in Accounting Research, 2(1),130-139
Hidayat, R., Wahyudi, S., Muharam, H., Shaferi, I., &Puspitasari, I. (2019). The improve level of firm value with liquidity, debt policy and investment in Indonesian emerging market, RevistaEspacious, 40(40), 1-9.
Hoffman, W. H. (1961). The theory of tax planning. The Accounting Review, 36(2), 274-281.
Ilaboya, O. J., Izevbekhai, M. O. &Ohiokha, F. I. (2016). Tax planning and firm value: A review of literature. Business and Management Research, 5 (2), 81-91.
Izedonmi, P.F. (2016). A quick guide to project writing, for social and management sciences students, Zion Praise Publishers &Anointed Publishers.
Izevbekhai, M.O. &Odion, A.O. (2018). Tax planning and firm value. Nigerian Academy of Management Journal, 13(1), 94-119.
Jensen, M., &Meikliny, W.(1976). Theory of the firm, managerial behavior, agency costs and ownership structure. Journal of financial economies, 3(1),305-380
Johnson, R., Rosenberg, J., & Williams, R. (2012). Measuring effective tax rates, tax policy centre. Urban Institute and Brookings Institute. http://www.taxpolicy centre.org/taxmodel/income.cfm.
Kayode, O.O., &Folajinmi, A.F.(2020). Corporate tax planning and Financial performance of quoted food and beverages firms in Nigeria. Journal of Finance and Accounting, 8(6),266-275
Kirkpatrick, A.K. &Radicic, D. (2020). Tax planning activities and firm value: A dynamic panel analysis. Advances in Taxation, 27(103-123).
Knesl, J.(2018). Capital Intensity and investment stock returns. SSRN Electronic Journal, 1(1),1-62
Lestari, N. &Wardhani, R. (2015). The effect of the tax planning on firm value with moderating board diversity. International Journal of Economics and Financial Issues, 5, 515-323.
Ling, W. T. & Abdul-Wahab, N. S. (2018). Roles of tax planning in market valuation of corporate social responsibility. Accounting, Corporate Governance & Business Ethics Research Article, 5: 1482595, 1 – 16.
Lisowsky, P., Lennox C., & Pittman, J. (2013). Tax aggressiveness and accounting fraud. Journal of Accounting Research, 51 (4), 739-778.
Mais, R.G. &Patminigih, D. (2017). Effects of good corporate governance on tax avoidance of the company listed on the Indonesia Stock Exchange. Journal of STEI Economics, 26(2), 230-243.
Mappadang, A. (2019). Do corporate governance mechanism influences tax avoidance and firm value? International Journal of Academic Research in Business and Social Sciences, 9(10), 203-217.
Munnick, &Noga, T. (2010). Do corporate governance characteristic influence tax management. Journal of Corporate Finance, 16, 703-718.
Nnamani, J. N. &Onyekwelu, U. L. (2017). Effect of sustainability accounting and reporting on financial performance of firms in Nigeria’s brewery sector. European Journal of Business and Innovation Research. 5 (1), 1-15.
Nurdayadi, R.A.B. (2019). The impact of deferred tax expense and tax planning toward earnings management and profitability. Journal Bisnis Dan Akantansi, 21(2),21-30
Nwanji, T. I. & Howell, K. (2007). Shareholdership,Stakeholdership and the Modern Global Business Environment: A Survey of the Literature. Journal of Interdisciplinary Economics, 18 (4), 347-361.
Nwaobia A.N., Kwarbai, J. D. & Ayodeji A. T (2015). Corporate risk management and firms’ value: Empirical evidence from selected listed manufacturing companies in Nigeria. Program on policy, Conflict &Strategic studies International Journal series.2(1).
Nwaobia, A. N. &Jayeoba, O. O. (2016). Tax planning and firm’s liquidity. IJRD Journal of Business Management. 2 (10),1-22.
Nwaobia, A., Kwarbai, J., &Ogundajo, G. (2016). Tax Planning and Firm Value: Empirical evidence from Nigerian consumer goods industrial sector. Research Journal of Finance and Accounting, 7(12), 172-183.
Oeta, S.M., Kiai, R. &Muchiri, J. (2019). Influence of tax planning on financial performance of manufacturing companies listed at Nairobi Securities Exchange. International Journal of Research in Business and Social Sciences, 8(6), 262-269.
Ogundajo, G. O. &Onakoya, A. B. (2016). Tax planning and financial performance of Nigerian manufacturing companies. International Journal of Advanced Academic Research for Social and Management Sciences, 2 (7), 64 – 79.
Olabisi, J., Kajola, S.O., Olalejo, D.A., Ajayi, J.A., &Hamzat, I.A.(2019). Corporate tax planning and performance of Nigeria listed oil and gas firms. The Journal of contemporary Economy, 4(1),31-36
Olachi, C.R., Onodugo, I.C. &Ezeamana, C.M(2020). Recent developments and trends in the banking sector in Nigeria. Academic leadership, 21(9),28-46
Olugbanga, O.M., Olusola, A.J., Zachaeus, S.A., &Oluwagbemiga, O.E.(2014). Financial reporting and compliance of important of non-current assets on Nigerian banks. European Journal of Accounting, Auditing and Finance Research, 2(2),18-35
Olurankinse, F. &Mamidu, A.I. (2021). Corporate tax planning and financial performance of development banks in Nigeria. European Journal of Accounting, Auditing and Financial research, 9(5), 53-72.
Omesi, I. &Appah, E(2021). Corporate tax planning and firm value of listed customer goods companies in Nigeria. IOSR Journal of Business and Management (IOSR-JBM), 23(2),42-51
Omesi, I. &Appah, E. (2020a). Tax structure and economic growth in Nigeria: An auto regressive distributive lag evidence from 1980 to 2018. International Journal of Innovations in Marketing and Accounting Research, 8(1), 108-124.
Omesi, I. &Appah, E. (2020b). Taxes and income inequality in Nigeria: Cointegration and error correction mechanisms evidence from 1980 – 2018. International Journal of Innovations in Management and Accounting, 8(2), 1-17.
Omodero, C.O. &Ogbonnaya, A.K. (2018). Corporate tax and profitability of deposit money banks in Nigeria. Journal of Business and Management, 23(2),42-51
Onyek-Iheme, C.V.C(2021). Tax planning strategies and liquidity of manufactory companies quoted in Nigeria. American Journal of Humanities and Social Sciences research (AJHSSR), 5(2),138-148
Peter, A., Hamid, T.K., & Ibrahim, M. (2020). Board attributes and tax planning of listed nonfinancial companies in Nigeria. International Journal of Accounting and Finance (IJAF), 9(1),50-61
Razali, M.W.M., Ghazali, S.S., Lunyai, J. & Hwang, J.Y.T. (2018). Tax planning and firm value: Evidence from Malaysia. International Journal of Academic Research in Business and Social Sciences,8 (11), 210-222.
Richard, D., Monday, E., & Boney, E.U.(2019). The impact of corporate tax planning on financial performance of listed industrial firms in Nigeria. Journal of Accounting and Financial Management, 5(4), 21-32
Salaw, R.O. & Adedeji, Z.A. (2017). Corporate governance and tax planning among non-financial quoted companies in Nigeria. African Research Review: An International Multi-Disciplinary Journal, 11(3), 42-59.
Salawo, R.O., Ogundipe, L.O. &Yeye, O. (2017). Granger causality between corporate tax planning and firm value of non-financial quoted companies in Nigeria. International Journal of Business and Social Sciences, 8(9), 91-101.
Shaheen, S. & Malik, Q. A. (2012). The impact of capital intensity, size of firm and profitability on debt financing in textile industry of Pakistan. Interdisciplinary Journal of Contemporary Research in Business, 3 (10), 1061-1066.
Soufiene A., Khoula A., & Mohamed A. O. (2016). Tax optimization and the firm's value: Evidence from the Tunisiancontext, Borsa Istanbul Review, 16 (3), 177-184.
Sunarti, S., Widjaja, B., &Oktavioni, R.M.(2021). The effect of corporate governance on tax avoidance. The role of profitability as a mediating variable. Journal of Asian Finance, Economics and Business, 8(3), 10-21
Timothy, O.U., Izilin, M.O. &Ndifereke, B.A. (2020). Corporate tax planning, board compensation and firm value. Accounting and Taxation Review, 4(3), 11-28.
Uchendu, O., Ironkwe, U.I. &Nwaiwu, J.N. (2016). Corporate governance mechanism and tax planning in Nigeria. International Journal of Advanced Academic Research, 2(9), 45-59.
Umobong, A. A. &Agburuga, U. T. (2018). Corporate tax and corporate social responsibility of firms in Nigeria. Research Journal of Finance and Accounting, 9 (10), 8 – 25.
Vu, T.A.T. & Le, U.H.(2021). The effect of tax planning on firm value: A case study in Vietman Journal of Asian Finance, Economics and Business, 8(2),0973-0979
Woda, G.M. (2021). Effect of internal tax planning on the financial performance of multinational corporations in west Africa. Bingham International Journal of Accounting and Finance (BIJAF), 2(1),1-15
Yuniarsh, N., (2018). The effect of accounting conservatism and corporate governance mechanism on tax avoidance. Academic Research International, 9(3),68-76
Zhang, C., Cheong, K. C., Rajah, R. (2016). Corporate tax avoidance and performance: Evidence from China’s Listed Companies. Institutions and Economies, 8(3),61-83.
Zhu, N., Mbroh, N., Monney, A. & Bonsu, M.O.A. (2019). Corporate tax avoidance and firm performance. European Scientific Research, 15(7), 61- 70.
Abdul-Wahab, N.S. (2016). Malaysian multi-national companies (MNC): permanent and temporary nature of tax planning. Cogent Business and Management, 3: 1248644.
Adegbie, F.F., Akintoye, I. R. &Isiaka, B. (2019). Evaluation of integrated reporting and the value of listed manufacturing firms in Nigeria, European Journal of Accounting, Auditing & Finance Research, 7(7), 31-59.
Adegboyegun, A.E., Alade, M.E., Ben-Caleb, E., Ademola, A.O., Eluyela, D.F. & Oladipo, O.A. (2020), Integrated reporting and corporate performance in Nigeria: Evidence from the banking industry, Cogent Business & Management, 7:1, 1736866.
Adejumo, B.T., &Samyarolu, W.A. (2020). Tax planning and profitability of Nigerian deposit many banks: Evidence from dynamic panel model. Accounting and Taxation Review, 4(2),162-169.
Adeyemi, S.B., Omubude, S.I. &Udofia, I.E (2019). Important testing of intangible assets and quality of financial reporting of Nigerian manufacturing companies. Global Journal of Accounting,5(1),1-15
Akagbom, I.A., &Ejabu, F.E.(2018). Effects of thin capitalization and international law on performance of multinational companies in Nigeria. Journal of Accounting and Financial Management, 4(2),47-58
Akintoye, I.R., Adegbie, F.F. &Iheme-Onyeka, C.V. (2020). Tax planning strategies and profitability of quoted manufacturing companies in Nigeria. Journal of Finance and Accounting, 8(3), 148-157.
Akintoye, I.R., Adegbie, F.F., &Onyeka-Iheme, V. (2020). Tax planning strategies and profitability of quoted manufactory companies in Nigeria. Journal of Finance and Accounting, 8(3),148-157
Bariyima, D. K. & Cletus, O. A. (2014). Tax planning and corporate governance in Nigerian banks. European Journal of Business and Management, 6 (19), 235 – 243.
Belz, T., Hagen, D.V. & Steffens, C. (2019). Taxes and firm size: Political cost or political power? Journal of Accounting Literature, 42, 1-28.
Bundala, N.N.(2012). Do Tanzanian companies practice pecking order theory, agency cost theory or trade-off theory. An empirical study in Tanzania listed companies. International Journal of Economics and Financial Issues, 2(4),401-420
Chen, S., Chen, X., Cheng, Q. & Shevlin, T. (2010). Are family firms more tax aggressive than non-family firms. Journal of Financial Economics,95(1), 41-61.
Chen, Z., Cheok, C. K. &Raziah, R. (2016). Corporate tax avoidance and performance: Evidence from China’s listed companies Institutions and Economies,8 (3), 61-83.
Chukwudi, U.V., Okonkwo, O.T. &Asika, E.R. (2020). Effect of tax planning on firm value of quoted consumer good manufacturing firms in Nigeria. International Journal of Finance and Banking Research, 6(1), 1-10.
Chytis, E., Tasios, S., Georgopoulos, I. &Hortis, Z. (2019). The relationship between tax avoidance, company characteristics and corporate governance: evidence from Greece. Corporate Governance and Control, 16(4), 77 – 86.
Desai, M. A., & Dharmapala, D. (2009). Tax avoidance. Review of Economics and Statistics, 9(3), 537-546.
Desasi, M.A. & Dharmapala, D(2016). Corporate tax avoidance and high-powered incentives. Journal of Financial Economics, 76(1),145-176
Dharmarathna, D.G.(2020). Corporate tax planning and financial performance of companies listed in Colomba Stock Exchange International Institute for Applied research Skies Educational, 3(2),1-15
Dyreng, S. D., Hanlon, M., & Maydew, E. L. (2008). Longrun corporate tax avoidance. Accounting Review, 83 (1), 61-82
Fagbemi, T.O., Olaniyi, T.A. &Ogundipe, A.A. (2019). The corporate tax planning and financial performance of systemically important banks in Nigeria. EkonomakiHorizonti, 21(1), 15-28.
Fama, E.F. & Jensen, M.C.(1983). Separation of ownership and control. Journal of law and economics, 26 and foundations of organizational strategy. Michael C. Jensen, Harvard University Press.
Ftouhi, K., Ayed, A. &Zemzem, A. (2014). Tax planning and firm value: Evidence from European companies. International Journal of Economics and Strategic Management of Business Processes, 4(73-78).
Hanlon, M., &Heutzman, S.(2010). A review of tax research. Journal of Accounting and Economics, 50(2),127-178.
Herwati, E.B. &Kumala, R. (2020). Analysis of the implementation of tax planning in efforts to save corporate income tax expense in PT GMT year 2017. International Journal of trends in Accounting Research, 2(1),130-139
Hidayat, R., Wahyudi, S., Muharam, H., Shaferi, I., &Puspitasari, I. (2019). The improve level of firm value with liquidity, debt policy and investment in Indonesian emerging market, RevistaEspacious, 40(40), 1-9.
Hoffman, W. H. (1961). The theory of tax planning. The Accounting Review, 36(2), 274-281.
Ilaboya, O. J., Izevbekhai, M. O. &Ohiokha, F. I. (2016). Tax planning and firm value: A review of literature. Business and Management Research, 5 (2), 81-91.
Izedonmi, P.F. (2016). A quick guide to project writing, for social and management sciences students, Zion Praise Publishers &Anointed Publishers.
Izevbekhai, M.O. &Odion, A.O. (2018). Tax planning and firm value. Nigerian Academy of Management Journal, 13(1), 94-119.
Jensen, M., &Meikliny, W.(1976). Theory of the firm, managerial behavior, agency costs and ownership structure. Journal of financial economies, 3(1),305-380
Johnson, R., Rosenberg, J., & Williams, R. (2012). Measuring effective tax rates, tax policy centre. Urban Institute and Brookings Institute. http://www.taxpolicy centre.org/taxmodel/income.cfm.
Kayode, O.O., &Folajinmi, A.F.(2020). Corporate tax planning and Financial performance of quoted food and beverages firms in Nigeria. Journal of Finance and Accounting, 8(6),266-275
Kirkpatrick, A.K. &Radicic, D. (2020). Tax planning activities and firm value: A dynamic panel analysis. Advances in Taxation, 27(103-123).
Knesl, J.(2018). Capital Intensity and investment stock returns. SSRN Electronic Journal, 1(1),1-62
Lestari, N. &Wardhani, R. (2015). The effect of the tax planning on firm value with moderating board diversity. International Journal of Economics and Financial Issues, 5, 515-323.
Ling, W. T. & Abdul-Wahab, N. S. (2018). Roles of tax planning in market valuation of corporate social responsibility. Accounting, Corporate Governance & Business Ethics Research Article, 5: 1482595, 1 – 16.
Lisowsky, P., Lennox C., & Pittman, J. (2013). Tax aggressiveness and accounting fraud. Journal of Accounting Research, 51 (4), 739-778.
Mais, R.G. &Patminigih, D. (2017). Effects of good corporate governance on tax avoidance of the company listed on the Indonesia Stock Exchange. Journal of STEI Economics, 26(2), 230-243.
Mappadang, A. (2019). Do corporate governance mechanism influences tax avoidance and firm value? International Journal of Academic Research in Business and Social Sciences, 9(10), 203-217.
Munnick, &Noga, T. (2010). Do corporate governance characteristic influence tax management. Journal of Corporate Finance, 16, 703-718.
Nnamani, J. N. &Onyekwelu, U. L. (2017). Effect of sustainability accounting and reporting on financial performance of firms in Nigeria’s brewery sector. European Journal of Business and Innovation Research. 5 (1), 1-15.
Nurdayadi, R.A.B. (2019). The impact of deferred tax expense and tax planning toward earnings management and profitability. Journal Bisnis Dan Akantansi, 21(2),21-30
Nwanji, T. I. & Howell, K. (2007). Shareholdership,Stakeholdership and the Modern Global Business Environment: A Survey of the Literature. Journal of Interdisciplinary Economics, 18 (4), 347-361.
Nwaobia A.N., Kwarbai, J. D. & Ayodeji A. T (2015). Corporate risk management and firms’ value: Empirical evidence from selected listed manufacturing companies in Nigeria. Program on policy, Conflict &Strategic studies International Journal series.2(1).
Nwaobia, A. N. &Jayeoba, O. O. (2016). Tax planning and firm’s liquidity. IJRD Journal of Business Management. 2 (10),1-22.
Nwaobia, A., Kwarbai, J., &Ogundajo, G. (2016). Tax Planning and Firm Value: Empirical evidence from Nigerian consumer goods industrial sector. Research Journal of Finance and Accounting, 7(12), 172-183.
Oeta, S.M., Kiai, R. &Muchiri, J. (2019). Influence of tax planning on financial performance of manufacturing companies listed at Nairobi Securities Exchange. International Journal of Research in Business and Social Sciences, 8(6), 262-269.
Ogundajo, G. O. &Onakoya, A. B. (2016). Tax planning and financial performance of Nigerian manufacturing companies. International Journal of Advanced Academic Research for Social and Management Sciences, 2 (7), 64 – 79.
Olabisi, J., Kajola, S.O., Olalejo, D.A., Ajayi, J.A., &Hamzat, I.A.(2019). Corporate tax planning and performance of Nigeria listed oil and gas firms. The Journal of contemporary Economy, 4(1),31-36
Olachi, C.R., Onodugo, I.C. &Ezeamana, C.M(2020). Recent developments and trends in the banking sector in Nigeria. Academic leadership, 21(9),28-46
Olugbanga, O.M., Olusola, A.J., Zachaeus, S.A., &Oluwagbemiga, O.E.(2014). Financial reporting and compliance of important of non-current assets on Nigerian banks. European Journal of Accounting, Auditing and Finance Research, 2(2),18-35
Olurankinse, F. &Mamidu, A.I. (2021). Corporate tax planning and financial performance of development banks in Nigeria. European Journal of Accounting, Auditing and Financial research, 9(5), 53-72.
Omesi, I. &Appah, E(2021). Corporate tax planning and firm value of listed customer goods companies in Nigeria. IOSR Journal of Business and Management (IOSR-JBM), 23(2),42-51
Omesi, I. &Appah, E. (2020a). Tax structure and economic growth in Nigeria: An auto regressive distributive lag evidence from 1980 to 2018. International Journal of Innovations in Marketing and Accounting Research, 8(1), 108-124.
Omesi, I. &Appah, E. (2020b). Taxes and income inequality in Nigeria: Cointegration and error correction mechanisms evidence from 1980 – 2018. International Journal of Innovations in Management and Accounting, 8(2), 1-17.
Omodero, C.O. &Ogbonnaya, A.K. (2018). Corporate tax and profitability of deposit money banks in Nigeria. Journal of Business and Management, 23(2),42-51
Onyek-Iheme, C.V.C(2021). Tax planning strategies and liquidity of manufactory companies quoted in Nigeria. American Journal of Humanities and Social Sciences research (AJHSSR), 5(2),138-148
Peter, A., Hamid, T.K., & Ibrahim, M. (2020). Board attributes and tax planning of listed nonfinancial companies in Nigeria. International Journal of Accounting and Finance (IJAF), 9(1),50-61
Razali, M.W.M., Ghazali, S.S., Lunyai, J. & Hwang, J.Y.T. (2018). Tax planning and firm value: Evidence from Malaysia. International Journal of Academic Research in Business and Social Sciences,8 (11), 210-222.
Richard, D., Monday, E., & Boney, E.U.(2019). The impact of corporate tax planning on financial performance of listed industrial firms in Nigeria. Journal of Accounting and Financial Management, 5(4), 21-32
Salaw, R.O. & Adedeji, Z.A. (2017). Corporate governance and tax planning among non-financial quoted companies in Nigeria. African Research Review: An International Multi-Disciplinary Journal, 11(3), 42-59.
Salawo, R.O., Ogundipe, L.O. &Yeye, O. (2017). Granger causality between corporate tax planning and firm value of non-financial quoted companies in Nigeria. International Journal of Business and Social Sciences, 8(9), 91-101.
Shaheen, S. & Malik, Q. A. (2012). The impact of capital intensity, size of firm and profitability on debt financing in textile industry of Pakistan. Interdisciplinary Journal of Contemporary Research in Business, 3 (10), 1061-1066.
Soufiene A., Khoula A., & Mohamed A. O. (2016). Tax optimization and the firm's value: Evidence from the Tunisiancontext, Borsa Istanbul Review, 16 (3), 177-184.
Sunarti, S., Widjaja, B., &Oktavioni, R.M.(2021). The effect of corporate governance on tax avoidance. The role of profitability as a mediating variable. Journal of Asian Finance, Economics and Business, 8(3), 10-21
Timothy, O.U., Izilin, M.O. &Ndifereke, B.A. (2020). Corporate tax planning, board compensation and firm value. Accounting and Taxation Review, 4(3), 11-28.
Uchendu, O., Ironkwe, U.I. &Nwaiwu, J.N. (2016). Corporate governance mechanism and tax planning in Nigeria. International Journal of Advanced Academic Research, 2(9), 45-59.
Umobong, A. A. &Agburuga, U. T. (2018). Corporate tax and corporate social responsibility of firms in Nigeria. Research Journal of Finance and Accounting, 9 (10), 8 – 25.
Vu, T.A.T. & Le, U.H.(2021). The effect of tax planning on firm value: A case study in Vietman Journal of Asian Finance, Economics and Business, 8(2),0973-0979
Woda, G.M. (2021). Effect of internal tax planning on the financial performance of multinational corporations in west Africa. Bingham International Journal of Accounting and Finance (BIJAF), 2(1),1-15
Yuniarsh, N., (2018). The effect of accounting conservatism and corporate governance mechanism on tax avoidance. Academic Research International, 9(3),68-76
Zhang, C., Cheong, K. C., Rajah, R. (2016). Corporate tax avoidance and performance: Evidence from China’s Listed Companies. Institutions and Economies, 8(3),61-83.
Zhu, N., Mbroh, N., Monney, A. & Bonsu, M.O.A. (2019). Corporate tax avoidance and firm performance. European Scientific Research, 15(7), 61- 70.
Published
2024-02-28
How to Cite
J.N., N. (2024). Tax Strategic Behaviour and Financial Performance of Quoted Agro-Allied Firms in Nigeria. GPH-International Journal of Business Management, 7(02), 59-84. https://doi.org/10.5281/zenodo.11068846
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