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All Journal SEISENSE Journal of Management Accounting Analysis Journal
Muhammad, Muhammad Liman
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Economics, Econometrics & Finance Social Sciences

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Corporate Tax Avoidance and the Cost of Debt Capital of Listed Manufacturing Companies in Nigeria Baba, Halima Abdullahi; Muhammad, Muhammad Liman
SEISENSE Journal of Management Vol. 6 No. 1 (2023): SEISENSE Journal of Management
Publisher : SEISENSE (PRIVATE) LIMITED

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33215/sjom.v6i1.888

Abstract

Purpose: The study “Tax Avoidance and Cost of Debt Capital in Nigerian Manufacturing Companies” is empirical research that investigates the relationship between tax avoidance and cost of debt capital in Nigerian manufacturing companies.Design/Methodology: The study uses a quantitative research design, which involves the collection of numerical data to test hypotheses. Specifically, the study uses a correlational design to establish the relationship between tax avoidance and cost of debt capital in Nigerian manufacturing companies. The study uses a purposive sampling technique to select 42 Nigerian manufacturing companies listed on the Nigerian Stock Exchange. The study collected secondary data from the annual reports and financial statements of the selected companies for the period 2011–2020.Findings: The results of the empirical analysis include the fact that the cost of debt capital was found to have a strong and positive link with tax avoidance. As a result, tax avoidance is regarded as a symptom of rising information risk in Nigerian manufacturing firms, prompting investors to demand a high rate of return. Total accruals also showed a positive and significant relationship between tax avoidance and cost of debt.Practical Implications: The findings of the study indicate that policymakers may need to implement measures to improve tax enforcement and increase transparency in financial reporting. This could involve increasing resources for tax authorities, strengthening legal frameworks for tax compliance, and promoting better corporate governance practices among companies.
Value Relevance of Corporate Tax Avoidance in Listed Consumer Goods Firms in Nigeria Daniya, Abdulazeez Adeiza; Dandago, Kabiru Isa; Muhammad, Muhammad Liman
Accounting Analysis Journal Vol. 13 No. 1 (2024)
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/aaj.v13i1.6501

Abstract

Purpose : In the last couple of years, the Nigerian government has vigorously increased its revenue base through economic diversification with an unprecedented focus on taxation. It constitutes an economic burden on the manufacturing companies that pay different types of tax. Therefore, they are left with no option but to optimize their tax avoidance effort to continue to create value for the shareholders. Therefore, this study evaluates the value relevance of corporate tax avoidance in listed consumer goods firms for 12 years (2009-2020). Method : Both Tax Saving (T.S.) and Tax Shelter (TSh) were used as proxies for tax avoidance, while Tabin’s Q (T.Q.) was used to measure value. The study employs correlational research design because it allows the relationship between quantitative data to be established, and the quantitative data from the annual reports and accounts of the firms were analyzed using fixed effect regression, having carried out some robustness tests such as normality, VIF, Heteroskedasticity, and Hausman specification tests respectively.Findings : The study revealed that increased tax savings led to an insignificant reduction in firm value. However, an increase in tax shelter propensity and firm age led to a significant improvement in the value of the firms. Consequently, the study found no empirical evidence to reject the first hypothesis, while the second hypothesis was rejected.Novelty : Despite the paucity of studies in Nigeria, there is no available study in Nigeria to the best of our knowledge that used tax shelter as a measure of tax avoidance, which makes this study novel and different from other few available Nigerian studies.
Co-Authors Baba, Halima Abdullahi Daniya, Abdulazeez Adeiza Kabiru Isa Dandago, Kabiru Isa