Papers by Olufemi OLADIPO
This study presents an empirical analysis of the impact of capital flight on tax revenue in Niger... more 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.
International Journal of Research and Scientific Innovation
Exchange rate has become one of the major issues Nigerian economy has been confronted with in the... more Exchange rate has become one of the major issues Nigerian economy has been confronted with in the recent times especially since one of the goals of all economies is to have a stable exchange rate. The concept of exchange rate was introduced into the analysis of economic growth and development. This study examined the impact of exchange rate on agricultural exports in Nigeria from 1981 to 2019. The Auto regressive distributed lag (ARDL) model and Granger causality test were employed as analytical tools to test for the existence of a relationship between the variables. This research generally places importance on the effect of interest rate, exchange rate, total exports, inflation rate and loans to the agricultural sector on agricultural exports. However, it is mainly concerned with the relationship between exchange rate and agricultural exports. The study establishes that exchange rate significantly affects agricultural exports and there is no causality between them. By implication, ...
The International Journal of Business & Management, 2019
The Effect of Board Composition and Financial Performance of Financial Services Firms in the Nige... more The Effect of Board Composition and Financial Performance of Financial Services Firms in the Nigerian Stock Exchange Market 1. Introduction Influence of board opus on recital of companies is a decisive research cram. There are many researches have been operated in developed countries but very number have been done on developing countries. Very a smaller number of researches have been undertaken in major African countries such as Nigeria, Ghana, and Economic Community of West African Countries (ECWAC). Particularly in the financial service sector. Studies that examined the board compositions and financial performance showed that there is some doubt as to whether there is a
Heliyon, 2018
The main aim of this study is to examine the impact of board meeting frequency on firm performanc... more The main aim of this study is to examine the impact of board meeting frequency on firm performance of deposit money banks in Nigeria. Data used for the study were spawned from annual reports of the deposit money banks listed on Nigeria stock exchange (NSE) market. We employed a panel regression to test the significant association amid variables. Our main empirical result shows a positive association amid board meeting frequency and firm performance. Although, our findings also show that board size was positive and not significant and firm size was negative and significant. The study recommended that management of banks should consider increasing their frequency of board meetings to at least four (4) meetings per year. This will allow the sampled deposit money banks to comply with the good governance code in Nigeria which states that companies must meet at least once per quarter.
International Review of Business Research Papers, 2017
The focus of this study is on the assessment on the effect of interest rate on Economic Growth of... more The focus of this study is on the assessment on the effect of interest rate on Economic Growth of Nigeria. The study adopted an Error-Correction Mechanism to test for the short-and longrun relationships among the saving deposit, real interest rate and inflation, ECM is negative and further test of Granger causality indicates that there is a causal relationship between SD and GDP and a unidirectional relationship exists between SD and GDP. Therefore Savings deposit causes Gross domestic product. The study recommends that policies which would boost the saving accumulation in Nigeria that will increase Capital Formation are necessary for economic growth. This will also enhance lending to the real sector of the economy for productive economic activities. This could be done by increasing the deposit rate which would lure the people to deposit their money in banks thereby increasing the supply of loanable funds. This would lead to a fall in interest rate and eventually rise in investment.
Academia Letters, 2022
The development of tax payment decision-making models (Sociological, Economical and Psychological... more The development of tax payment decision-making models (Sociological, Economical and Psychological) has focused on economic and behavioural factors affecting tax compliance. The issue of tax evasion, which remains an ethical problem for companies, has been a general concern in developed and developing countries alike. The main problem of this study is low tax collection on the part of relevant tax authority, couple with non-tax compliance behaviour of the corporate taxpayers in Nigeria. This study examined the effect of tax fairness of tax authority on tax compliance behaviour of taxpayers in the Nigerian manufacturing sector. This study adopted a survey research method, and 400 copies of the questionnaire were administered to the selected listed manufacturing companies in Nigeria and relevant tax authority staff (FIRS). Theory of Planned Behaviour underpinned this study and Correlation analysis, Analysis of Variance (ANOVA) and Multiple Regression analysis were also employed. The
Banks and Bank Systems, 2016
This paper examined the effects of value relevance of financial statements on firms share price i... more This paper examined the effects of value relevance of financial statements on firms share price in Nigeria. In achieving the objectives of this research, the fact book from the Nigerian Stock Exchange Market and the audited financial statement of listed banks spanning the period 2010-2014 were used. Also, a total of 15 listed banks in the Nigerian stock exchange market were selected and analyzed for the study using the purposive sampling method. However, in analyzing the research hypotheses, the study adopted the use of both descriptive statistics and the use of Fixed Effects Panel data method of data analysis technique. Findings from the study showed that a significant positive relationship existed between earnings per share (EPS) and Last day share price (LDSP). The study recommends the need for banks in the country to improve on the quality of earnings reported, since it has a stronger ability to explaining share prices of firm. Keywords: value relevance, financial statements, Ni...
Data in brief, 2018
This article provides data on the impact of board meeting frequency and financial performance of ... more This article provides data on the impact of board meeting frequency and financial performance of deposit money banks in Nigeria. We obtained the dataset from Nigeria stock exchange (NSE) database. The time frame used for this work is 2010-2016. TOBIN Q was used as a major determinant of financial performance. The raw data is easily accessible on Nigeria stock exchange website. We describe the value of this data as well as the method to analyze the data.
Problems and Perspectives in Management, 2019
The responsibility of the government of any economy cannot be overemphasized. Likewise, the resou... more The responsibility of the government of any economy cannot be overemphasized. Likewise, the resources generated and infrastructural development helps to boost the economic growth of any nation. There has been overdependency of Nigerian economy on the oil sector, the major source of revenue. However, this sector has experienced several challenges ranging from devaluation in naira and fall in prices of crude oil in the international market. This serves as a revelation for the Nigerian government to seek an additional source of income. To this end, the main aim of this paper is to examine the impact of total tax revenue on agricultural performance in Nigeria. The study uses Engel and Granger approach to cointegration to establish the long- and short-run behavior, it was found that a positive and significant relationship exists between revenue obtained in the agricultural sector, capital in agricultural sector proxy by loan and agricultural output, while employment and total tax generat...
Problems and Perspectives in Management
Tax compliance is a major contemporary debate surrounding corporate taxation in the business worl... more Tax compliance is a major contemporary debate surrounding corporate taxation in the business world. The tax avoidance issue, which remains an ethical problem for companies, has been a general concern in developed and developing countries alike. The main problem of this study is a non-tax compliance behavior of the corporate organization taxpayers in Nigeria. This study examined the influence of tax fairness on the tax compliance behavior of listed manufacturing companies in Nigeria. The paper adopted a survey research method, and four hundred (400) copies of the questionnaire were administered to the selected manufacturing companies of both consumer and industrial goods sectors. The Laffer Curve Theory underpinned this study and Correlation Analysis, Analysis of Variance (ANOVA), and Multiple Regression Analysis were also employed. The study found that there is a significant level of tax compliance among the listed manufacturing companies in Nigeria. The study also shows that the co...
21st century education standards focus on 21st century skills, content knowledge and expertise. T... more 21st century education standards focus on 21st century skills, content knowledge and expertise. Technology advances such as eXtensible Business Reporting Language (XBRL) have revolutionized the way information is exchanged and the way business is conducted. These days, speed is of the essence and loss of accuracy, lack of transparency, and difficulty in analysis are increasingly becoming apparent risks. This research exposes XBRL as a phenomenon that represents the future of global accounting education. It discusses the concept and need for XBRL as well as its potential uses and challenges. The research found that there is an ongoing transformation in the way business is conducted and regulated world-wide. The onslaught of the information revolution has profound ramifications for corporate reporting information preparers and users. It therefore recommends that the greater the degree of collaboration between all participants in the financial information supply chain, including govern...
Journal of Management Information and Decision Sciences, 2019
Background: The implications of taxes on output have generated different debates and controversia... more Background: The implications of taxes on output have generated different debates and controversial issues among scholars, most especially in developing economies. Objectives: Hence, the short and long-run impact of taxes on output in the manufacturing sector is examined in Nigeria. Method: To achieve these objectives, the study investigates the effect of company income and value-added taxes on the output of the manufacturing sector in Nigeria using Auto-Regressive Distributed Lags. Results: The long-run result revealed that there is a positive relationship between corporate taxes and the output of the manufacturing sector, while value-added tax reveals a negative relationship with the output. Evidence from the short-run result shows that company income tax is not statistically significant at the level of 5 per cent confirming the Ricardian Equivalence, although, the value-added tax is observed to be positively related to the output of the manufacturing sector. Conclusion: The implic...
This study examined the comparison between pre and post-adoptionof IFRS based financial statement... more This study examined the comparison between pre and post-adoptionof IFRS based financial statements of listed SMEs in Nigeria. Data used weregenerated from the annual report of the sampled listed SMEs on Nigerian stock exchange considering the period 2012-2015. The study used Return on Capital Employed (ROCE), Return on Equity (ROE), Debt to Equity (D/E) and Earnings per Share (EPS) as a proxy for measuring the profitability, liquidity and market ratios of the sampled SMEs. We analyzedthe study data usingone-sample KolmogorovSmirnovtest, descriptive statistics and Mann Whitney u-test. Findings from the study showthat there isno significant difference between profitability and leverage ratios of IFRS and NGAAP-based financial statements of listed SMEs. Though further findings revealed that asignificant difference existsamidmarket ratios prepared under IFRS and NGAAP-based financial statements of listed SMEs. The major implication of the study is that IFRS has a significantimpact on ma...
1. INTRODUCTIONContrary to the impression that it is only the public service that is heavily infe... more 1. INTRODUCTIONContrary to the impression that it is only the public service that is heavily infested with corruption and inefficiency, the trend has since changed in Nigeria. The private sector of which the financial institutions constitute an integral part has also been caught up in identical unethical muddle. Financial ethics are those principles that guides in the preparation of financial transactions. Oladoyin et al (2005) stated that "Ethics" generally refers to those principles and codes of behaviour that guide the conduct of a profession. The term usually carries along moral values normative judgments and moral obligations. At any rate, every profession possesses its own ethics. These Ethics are commonly derived from the general expectations of the public from a public officer or a professional practitioner. The issue of ethics usually goes along with allocation of value judgment such as good or bad; right or wrong. Every professional strives to keep to the guiding...
Academia Letters, 2022
The development of tax payment decision-making models (Sociological, Economical and Psychological... more The development of tax payment decision-making models (Sociological, Economical and Psychological) has focused on economic and behavioural factors affecting tax compliance. The issue of tax evasion, which remains an ethical problem for companies, has been a general concern in developed and developing countries alike. The main problem of this study is low tax collection on the part of relevant tax authority, couple with non-tax compliance behaviour of the corporate taxpayers in Nigeria. This study examined the effect of tax fairness of tax authority on tax compliance behaviour of taxpayers in the Nigerian manufacturing sector. This study adopted a survey research method, and 400 copies of the questionnaire were administered to the selected listed manufacturing companies in Nigeria and relevant tax authority staff (FIRS). Theory of Planned Behaviour underpinned this study and Correlation analysis, Analysis of Variance (ANOVA) and Multiple Regression analysis were also employed. The
Problems and Perspectives in Management, 2019
Abstract
The responsibility of the government of any economy cannot be overemphasized.
Likewise, ... more Abstract
The responsibility of the government of any economy cannot be overemphasized.
Likewise, the resources generated and infrastructural development helps to boost the
economic growth of any nation. There has been overdependency of Nigerian economy
on the oil sector, the major source of revenue. However, this sector has experienced
several challenges ranging from devaluation in naira and fall in prices of crude oil in
the international market. This serves as a revelation for the Nigerian government to
seek an additional source of income. To this end, the main aim of this paper is to examine
the impact of total tax revenue on agricultural performance in Nigeria. The study
uses Engel and Granger approach to cointegration to establish the long- and shortrun
behavior, it was found that a positive and significant relationship exists between
revenue obtained in the agricultural sector, capital in agricultural sector proxy by loan
and agricultural output, while employment and total tax generated are not significant
in the short run. In the long run, employment, capital and total revenue are statistically
significant with agricultural output, while tax is insignificant. The implication of the
result showed that tax has not yielded desirable result in promoting the agricultural
sector in Nigeria. To promote pro-poor growth, long-run employment and improve
overall welfare, there is a need to incorporate benefit from tax into agricultural performance.
The study recommends among others the need for a systemic approach, given
a significant percentage of the total tax generated to boost the development of the
agricultural sector
Journal of Management Information and Decision Sciences, 2019
Background: The implications of taxes on output have generated different debates and controversia... more Background: The implications of taxes on output have generated different debates and controversial issues among scholars, most especially in developing economies. Objectives: Hence, the short and long-run impact of taxes on output in the manufacturing sector is examined in Nigeria. Method: To achieve these objectives, the study investigates the effect of company income and value-added taxes on the output of the manufacturing sector in Nigeria using Auto-Regressive Distributed Lags. Results: The long-run result revealed that there is a positive relationship between corporate taxes and the output of the manufacturing sector, while value-added tax reveals a negative relationship with the output. Evidence from the short-run result shows that company income tax is not statistically significant at the level of 5 per cent confirming the Ricardian Equivalence, although, the value-added tax is observed to be positively related to the output of the manufacturing sector. Conclusion: The implications of the result revealed that fiscal measures via taxation and expenditure have not enhanced the productive capacity of the manufacturing sector in Nigeria.
Research in World Economy
This study presents an empirical analysis of the impact of capital flight on tax revenue in Niger... more 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.
Research in World Economy
This study presents an empirical analysis of the impact of capital flight on tax revenue in Niger... more 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.
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Papers by Olufemi OLADIPO
The responsibility of the government of any economy cannot be overemphasized.
Likewise, the resources generated and infrastructural development helps to boost the
economic growth of any nation. There has been overdependency of Nigerian economy
on the oil sector, the major source of revenue. However, this sector has experienced
several challenges ranging from devaluation in naira and fall in prices of crude oil in
the international market. This serves as a revelation for the Nigerian government to
seek an additional source of income. To this end, the main aim of this paper is to examine
the impact of total tax revenue on agricultural performance in Nigeria. The study
uses Engel and Granger approach to cointegration to establish the long- and shortrun
behavior, it was found that a positive and significant relationship exists between
revenue obtained in the agricultural sector, capital in agricultural sector proxy by loan
and agricultural output, while employment and total tax generated are not significant
in the short run. In the long run, employment, capital and total revenue are statistically
significant with agricultural output, while tax is insignificant. The implication of the
result showed that tax has not yielded desirable result in promoting the agricultural
sector in Nigeria. To promote pro-poor growth, long-run employment and improve
overall welfare, there is a need to incorporate benefit from tax into agricultural performance.
The study recommends among others the need for a systemic approach, given
a significant percentage of the total tax generated to boost the development of the
agricultural sector