The aim of this study was to examine empirically the impact of corporate governance mechanisms on... more The aim of this study was to examine empirically the impact of corporate governance mechanisms on firm financial performance using listed firms in Nigeria as case study for two years 2010 and 2011. The study adopted a content analytical approach to obtain data through the corporate website of the respective firms and website of the Securities and Exchange Commission. A total of 33 firms were selected for the study cutting across three sectors: manufacturing, financial and oil and gas. The result of the study showed that most of the corporate governance items were disclosed by the case study firms. The result also showed that the banking sector has the highest level of corporate governance disclosure compared to the other two sectors. The result thus indicates that the nature of control over the sector have an impact on companies' decision to disclose online information about their corporate governance in Nigeria; and that there were no significant differences among firms with lo...
This study aimed at investigating the impact of value-added tax on corporate financial performanc... more This study aimed at investigating the impact of value-added tax on corporate financial performance of quoted companies. To achieve this purpose, we developed some hypotheses and critically reviewed existing theoretical and empirical literatures. Agribusinesses quoted in the Nigerian Stock Exchange Factbook of 2009 were considered as the population for this study. The population elements include the General Managers, Chief Accountants, Finance Managers, Chief Internal Auditors, External Auditors, and Tax Administrators of the selected companies. A total of forty (42) respondents were considered for this study. A well structured questionnaire designed in five-point Likert Scale was administered on the respondents to elicit their responses. The data generated for this study were presented in tabular form and analyzed using frequencies and simple percentages while the stated hypotheses were statistically tested with the simple regression analysis and the t-test. Our findings indicated t...
The objective of this paper is to provide empirical evidence on the influence of corporate govern... more The objective of this paper is to provide empirical evidence on the influence of corporate governance characteristics and corporate ownership concentrations on the financial performance of Chinese companies. This is based on analysis of a panel data set covering the years 2001 to 2005. The characteristics considered are the ratios of independent directors and professional supervisors on the companies' two
Abstract: Given the significance of Foreign Direct Investment (FDI) to economic growth and the us... more Abstract: Given the significance of Foreign Direct Investment (FDI) to economic growth and the use of tax incentives as a strategy among government of various countries to attract FDI, this study examines the influence of tax incentives in the decision of an investor to locate FDI in Nigeria. Data were drawn from annual statistical bulletin of the Central Bank of Nigeria and the World Bank World Development Indicators Database. The work employs a model of multiple regressions using static Error Correction Modelling (ECM) to determine the time series properties of tax incentives captured by annual tax revenue as a percentage of Gross Domestic Product (GDP)and FDI. The result showed that FDI response to tax incentives is negatively significant, that is, increase in tax incentives does not bring about a corresponding increase in FDI. Based on the findings, the paper recommends, amongst others, that dependence on tax incentives should be reduced and more attention be put on other incentives strategies such as stable economic reforms and stable political climate. Keywords: Foreign Direct Investment, Tax Incentives, Nigeria, Economic Growth. I. Introduction Empirical and theoretical evidence over decades suggest that FDI is an important
This study aimed at investigating the impact of value-added tax on corporate financial
performanc... more This study aimed at investigating the impact of value-added tax on corporate financial performance of quoted companies. To achieve this purpose, we developed some hypotheses and critically reviewed existing theoretical and empirical literatures. Agribusinesses quoted in the Nigerian Stock Exchange Factbook of 2009 were considered as the population for this study. The population elements include the General Managers, Chief Accountants, Finance Managers, Chief Internal Auditors, External Auditors, and Tax Administrators of the selected companies. A total of forty (42) respondents were considered for this study. A well structured questionnaire designed in five-point Likert Scale was administered on the respondents to elicit their responses. The data generated for this study were presented in tabular form and analyzed using frequencies and simple percentages while the stated hypotheses were statistically tested with the simple regression analysis and the t-test. Our findings indicated that Value- Added Tax (VAT) impacted negatively on the financial performance of agribusinesses though the impact is of insignificant value. Based on our findings, we recommended that agribusinesses should endeavour to keep appropriate source documents of all transactions for efficient VAT operations and that the governments should ensure that proper tax incentive scheme is designed and fully implemented to promote the growth of agribusinesses, in Nigeria.
The aim of this study was to examine empirically the impact of corporate governance
mechanisms on... more The aim of this study was to examine empirically the impact of corporate governance mechanisms on firm financial performance using listed firms in Nigeria as case study for two years 2010 and 2011. The study adopted a content analytical approach to obtain data through the corporate website of the respective firms and website of the Securities and Exchange Commission. A total of 33 firms were selected for the study cutting across three sectors: manufacturing, financial and oil and gas. The result of the study showed that most of the corporate governance items were disclosed by the case study firms. The result also showed that the banking sector has the highest level of corporate governance disclosure compared to the other two sectors. The result thus indicates that the nature of control over the sector have an impact on companies’ decision to disclose online information about their corporate governance in Nigeria; and that there were no significant differences among firms with low corporate governance quotient and those with higher corporate governance in terms of their financial performance. The result also suggests an existence of variations between sectors with respect to their corporate governance reporting. Thus among others the study recommends that deliberate steps be taken in mandatory compliance with SEC code of best practice for all sectors in Nigeria. Furthermore, deliberate efforts should be made in setting up a follow-up and compliance team to make sure that all firms across Nigerian sectors do not only comply but meet up with the different expectations of the regulatory body as mandated in the code of corporate governance. ____________________________________________________________________ Keywords: Corporate Governance, Financial Performance, Nigeria, Listed Firms
The aim of this study was to examine empirically the impact of corporate governance mechanisms on... more The aim of this study was to examine empirically the impact of corporate governance mechanisms on firm financial performance using listed firms in Nigeria as case study for two years 2010 and 2011. The study adopted a content analytical approach to obtain data through the corporate website of the respective firms and website of the Securities and Exchange Commission. A total of 33 firms were selected for the study cutting across three sectors: manufacturing, financial and oil and gas. The result of the study showed that most of the corporate governance items were disclosed by the case study firms. The result also showed that the banking sector has the highest level of corporate governance disclosure compared to the other two sectors. The result thus indicates that the nature of control over the sector have an impact on companies' decision to disclose online information about their corporate governance in Nigeria; and that there were no significant differences among firms with lo...
This study aimed at investigating the impact of value-added tax on corporate financial performanc... more This study aimed at investigating the impact of value-added tax on corporate financial performance of quoted companies. To achieve this purpose, we developed some hypotheses and critically reviewed existing theoretical and empirical literatures. Agribusinesses quoted in the Nigerian Stock Exchange Factbook of 2009 were considered as the population for this study. The population elements include the General Managers, Chief Accountants, Finance Managers, Chief Internal Auditors, External Auditors, and Tax Administrators of the selected companies. A total of forty (42) respondents were considered for this study. A well structured questionnaire designed in five-point Likert Scale was administered on the respondents to elicit their responses. The data generated for this study were presented in tabular form and analyzed using frequencies and simple percentages while the stated hypotheses were statistically tested with the simple regression analysis and the t-test. Our findings indicated t...
The objective of this paper is to provide empirical evidence on the influence of corporate govern... more The objective of this paper is to provide empirical evidence on the influence of corporate governance characteristics and corporate ownership concentrations on the financial performance of Chinese companies. This is based on analysis of a panel data set covering the years 2001 to 2005. The characteristics considered are the ratios of independent directors and professional supervisors on the companies' two
Abstract: Given the significance of Foreign Direct Investment (FDI) to economic growth and the us... more Abstract: Given the significance of Foreign Direct Investment (FDI) to economic growth and the use of tax incentives as a strategy among government of various countries to attract FDI, this study examines the influence of tax incentives in the decision of an investor to locate FDI in Nigeria. Data were drawn from annual statistical bulletin of the Central Bank of Nigeria and the World Bank World Development Indicators Database. The work employs a model of multiple regressions using static Error Correction Modelling (ECM) to determine the time series properties of tax incentives captured by annual tax revenue as a percentage of Gross Domestic Product (GDP)and FDI. The result showed that FDI response to tax incentives is negatively significant, that is, increase in tax incentives does not bring about a corresponding increase in FDI. Based on the findings, the paper recommends, amongst others, that dependence on tax incentives should be reduced and more attention be put on other incentives strategies such as stable economic reforms and stable political climate. Keywords: Foreign Direct Investment, Tax Incentives, Nigeria, Economic Growth. I. Introduction Empirical and theoretical evidence over decades suggest that FDI is an important
This study aimed at investigating the impact of value-added tax on corporate financial
performanc... more This study aimed at investigating the impact of value-added tax on corporate financial performance of quoted companies. To achieve this purpose, we developed some hypotheses and critically reviewed existing theoretical and empirical literatures. Agribusinesses quoted in the Nigerian Stock Exchange Factbook of 2009 were considered as the population for this study. The population elements include the General Managers, Chief Accountants, Finance Managers, Chief Internal Auditors, External Auditors, and Tax Administrators of the selected companies. A total of forty (42) respondents were considered for this study. A well structured questionnaire designed in five-point Likert Scale was administered on the respondents to elicit their responses. The data generated for this study were presented in tabular form and analyzed using frequencies and simple percentages while the stated hypotheses were statistically tested with the simple regression analysis and the t-test. Our findings indicated that Value- Added Tax (VAT) impacted negatively on the financial performance of agribusinesses though the impact is of insignificant value. Based on our findings, we recommended that agribusinesses should endeavour to keep appropriate source documents of all transactions for efficient VAT operations and that the governments should ensure that proper tax incentive scheme is designed and fully implemented to promote the growth of agribusinesses, in Nigeria.
The aim of this study was to examine empirically the impact of corporate governance
mechanisms on... more The aim of this study was to examine empirically the impact of corporate governance mechanisms on firm financial performance using listed firms in Nigeria as case study for two years 2010 and 2011. The study adopted a content analytical approach to obtain data through the corporate website of the respective firms and website of the Securities and Exchange Commission. A total of 33 firms were selected for the study cutting across three sectors: manufacturing, financial and oil and gas. The result of the study showed that most of the corporate governance items were disclosed by the case study firms. The result also showed that the banking sector has the highest level of corporate governance disclosure compared to the other two sectors. The result thus indicates that the nature of control over the sector have an impact on companies’ decision to disclose online information about their corporate governance in Nigeria; and that there were no significant differences among firms with low corporate governance quotient and those with higher corporate governance in terms of their financial performance. The result also suggests an existence of variations between sectors with respect to their corporate governance reporting. Thus among others the study recommends that deliberate steps be taken in mandatory compliance with SEC code of best practice for all sectors in Nigeria. Furthermore, deliberate efforts should be made in setting up a follow-up and compliance team to make sure that all firms across Nigerian sectors do not only comply but meet up with the different expectations of the regulatory body as mandated in the code of corporate governance. ____________________________________________________________________ Keywords: Corporate Governance, Financial Performance, Nigeria, Listed Firms
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Papers by George Peters
I. Introduction
Empirical and theoretical evidence over decades suggest that FDI is an important
performance of quoted companies. To achieve this purpose, we developed some hypotheses and critically
reviewed existing theoretical and empirical literatures. Agribusinesses quoted in the Nigerian Stock
Exchange Factbook of 2009 were considered as the population for this study. The population elements
include the General Managers, Chief Accountants, Finance Managers, Chief Internal Auditors, External
Auditors, and Tax Administrators of the selected companies. A total of forty (42) respondents were
considered for this study. A well structured questionnaire designed in five-point Likert Scale was
administered on the respondents to elicit their responses. The data generated for this study were presented
in tabular form and analyzed using frequencies and simple percentages while the stated hypotheses were
statistically tested with the simple regression analysis and the t-test. Our findings indicated that Value-
Added Tax (VAT) impacted negatively on the financial performance of agribusinesses though the impact
is of insignificant value. Based on our findings, we recommended that agribusinesses should endeavour to
keep appropriate source documents of all transactions for efficient VAT operations and that the
governments should ensure that proper tax incentive scheme is designed and fully implemented to
promote the growth of agribusinesses, in Nigeria.
mechanisms on firm financial performance using listed firms in Nigeria as case study for
two years 2010 and 2011. The study adopted a content analytical approach to obtain
data through the corporate website of the respective firms and website of the Securities
and Exchange Commission. A total of 33 firms were selected for the study cutting across
three sectors: manufacturing, financial and oil and gas. The result of the study showed
that most of the corporate governance items were disclosed by the case study firms. The
result also showed that the banking sector has the highest level of corporate governance
disclosure compared to the other two sectors. The result thus indicates that the nature of
control over the sector have an impact on companies’ decision to disclose online
information about their corporate governance in Nigeria; and that there were no
significant differences among firms with low corporate governance quotient and those
with higher corporate governance in terms of their financial performance. The result
also suggests an existence of variations between sectors with respect to their corporate
governance reporting. Thus among others the study recommends that deliberate steps be
taken in mandatory compliance with SEC code of best practice for all sectors in Nigeria.
Furthermore, deliberate efforts should be made in setting up a follow-up and compliance
team to make sure that all firms across Nigerian sectors do not only comply but meet up
with the different expectations of the regulatory body as mandated in the code of
corporate governance.
____________________________________________________________________
Keywords: Corporate Governance, Financial Performance, Nigeria, Listed Firms
I. Introduction
Empirical and theoretical evidence over decades suggest that FDI is an important
performance of quoted companies. To achieve this purpose, we developed some hypotheses and critically
reviewed existing theoretical and empirical literatures. Agribusinesses quoted in the Nigerian Stock
Exchange Factbook of 2009 were considered as the population for this study. The population elements
include the General Managers, Chief Accountants, Finance Managers, Chief Internal Auditors, External
Auditors, and Tax Administrators of the selected companies. A total of forty (42) respondents were
considered for this study. A well structured questionnaire designed in five-point Likert Scale was
administered on the respondents to elicit their responses. The data generated for this study were presented
in tabular form and analyzed using frequencies and simple percentages while the stated hypotheses were
statistically tested with the simple regression analysis and the t-test. Our findings indicated that Value-
Added Tax (VAT) impacted negatively on the financial performance of agribusinesses though the impact
is of insignificant value. Based on our findings, we recommended that agribusinesses should endeavour to
keep appropriate source documents of all transactions for efficient VAT operations and that the
governments should ensure that proper tax incentive scheme is designed and fully implemented to
promote the growth of agribusinesses, in Nigeria.
mechanisms on firm financial performance using listed firms in Nigeria as case study for
two years 2010 and 2011. The study adopted a content analytical approach to obtain
data through the corporate website of the respective firms and website of the Securities
and Exchange Commission. A total of 33 firms were selected for the study cutting across
three sectors: manufacturing, financial and oil and gas. The result of the study showed
that most of the corporate governance items were disclosed by the case study firms. The
result also showed that the banking sector has the highest level of corporate governance
disclosure compared to the other two sectors. The result thus indicates that the nature of
control over the sector have an impact on companies’ decision to disclose online
information about their corporate governance in Nigeria; and that there were no
significant differences among firms with low corporate governance quotient and those
with higher corporate governance in terms of their financial performance. The result
also suggests an existence of variations between sectors with respect to their corporate
governance reporting. Thus among others the study recommends that deliberate steps be
taken in mandatory compliance with SEC code of best practice for all sectors in Nigeria.
Furthermore, deliberate efforts should be made in setting up a follow-up and compliance
team to make sure that all firms across Nigerian sectors do not only comply but meet up
with the different expectations of the regulatory body as mandated in the code of
corporate governance.
____________________________________________________________________
Keywords: Corporate Governance, Financial Performance, Nigeria, Listed Firms