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All Journal SRIWIJAYA INTERNATIONAL JOURNAL OF DYNAMIC ECONOMICS AND BUSINESS
Ikponmwosa Michael Igbinovia
EDO UNIVERSITY IYAMHO, NIGERIA
Economics, Econometrics & Finance

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Corporate Tax Avoidance and Shareholders Returns: Moderating Effects of Monitoring Ikponmwosa Michael Igbinovia; Chizoba Marcella Ekwueme
SRIWIJAYA INTERNATIONAL JOURNAL OF DYNAMIC ECONOMICS AND BUSINESS SIJDEB, Vol. 2 No. 3, September 2018
Publisher : Faculty of Economics, Universitas Sriwijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (272.274 KB) | DOI: 10.29259/sijdeb.v2i3.255-268

Abstract

The study tests the moderating effect of monitoring on the corporate tax avoidance- shareholders’ returns nexus in quoted Nigerian firms. Using an ex-post facto design, annual financial data were collected from 54 non-financial firms from various sectors of the Nigerian Stock Exchange (NSE). Analyses were carried out involving the Ordinary Least Square (OLS) regression within the framework of E-view 9.0. The study demonstrates that corporate tax avoidance positively impacts shareholders returns in quoted non-financial firms in Nigeria and the effect is improved with better monitoring mechanism in place. We also observe improvement in the liquidity, profitability, expected growth and tangibility of the sampled firms when tax avoidance behavior are well monitored. We recommend among other things that shareholders put in place a monitor mechanism to check management in the use of tax savings to ensure it is in shareholders’ interest.
Oil Price Volatility and Stock Market Returns in an Emerging Economy: Evidence from Nigeria Ikponmwosa Michael Igbinovia; Eghosa Lawson Igbinovia
SRIWIJAYA INTERNATIONAL JOURNAL OF DYNAMIC ECONOMICS AND BUSINESS SIJDEB, Vol. 3 No. 3, September 2019
Publisher : Faculty of Economics, Universitas Sriwijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (211.036 KB) | DOI: 10.29259/sijdeb.v3i3.193-206

Abstract

The study examines the reaction of the Nigerian stock market to fluctuations in the  mainstay of the Nigerian economy. Using time series data sourced from OPEC website and the Central Bank of Nigeria (CBN) Statistical Bulletin, we investigate the effect of oil price volatility on stock market returns in Nigeria during the period 1981 to 2017. Cointegration test established the long run relationship between variables, while, the Error Correction Model (ECM) and Pair-Wise Granger Causality test were used to ascertain the short run dynamics and the direction of causality between the variables of interest. The findings reveal among other things that Oil Price Volatility (OPV) has a non-significant positive effect on Stock Market Return (SMR) both in the short and long run period. Exchange Rate (EXR) and Interest rate (INT) were significant variables that influence stock market return in Nigeria during the period under review
Co-Authors Chizoba Marcella Ekwueme Eghosa Lawson Igbinovia