SALEM JOURNAL OF BUSINESS AND ECONOMY
ISSN NUMBER: 627-44669| 1 | Title: Corporate Governance And Tax Aggressiveness: The Role Of Internal Stakeholders In Tax Planning Strategies Author: Sinebe, M.T. & Anosike-Akude, Isdora C. Abstract: The study examined the effect of corporate governance mechanism on tax aggressiveness. The research utilized secondary data from 64 non-financial firms in Nigeria within a period of ten (10) years. The research employs a multiple regression analysis to examine the relationship between the effective tax rate (ETR) as the dependent variable, Institutional ownership, CEO ownership and management ownership as independent variable and profitability and firm size as the control variable. The model’s validity was tested for multicollinearity, heteroscedasticity, and autocorrelation, ensuring robust results. The Wald chi-squared statistic for the model showed a 3.50 with a p-value of 0.6239, indicating that the independent variables does not have significant effect on effective tax rate. The study suggests that in order to reduce aggressive tax planning, regulators should encourage higher institutional ownership, align CEO and management interests with shareholders, leverage resources for efficient tax planning, focus on sustainable profitability strategies, and have an independent board of directors. Also, Firms should also advocate for clearer tax regulations and engage with policymakers to advocate for more supportive tax policies. This will help balance tax savings with long-term growth and compliance. Key words: Effective Tax Rate, Institutional Ownership, CEO Ownership, Management Ownership, Aggressive Tax Planning, Profitability.... more |
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| 2 | Title: Interest Rate And Industrial Productivity In Nigeria Author: Lawson Charity Elsie; Wale-Awe Olawale I. & Agolade Segun Ayodele Abstract: Nigeria’s manufacturing sector is an important pillar of the country’s economic development, contributing significantly to job creation, revenue generation and overall GDP. However, the sector has experienced various challenges over the last few decades and understanding the impact of interest rates in determining industrial productivity is critical to tackling these issues. .This study investigated the effects of interest rate on industrial productivity in Nigeria between 1986 and 2022. Industrial productivity was proxied with Industrial Value Added (IVA) while interest rate was proxied with Monetary Policy Rate (MPR), Prime Lending Rate (PLR), Maximum Lending Rate (MLR) while Inflation Rate (INF) was the controlling variable. An ex-post facto research design was used in this study while descriptive, correlation matrix and Autoregressive Distributed Lag (ARDL) model were employed as the estimation technique. Inferences were made at 5% significant level. The findings from the study on the effect of interest rates on Industrial Value Added (IVA) in Nigeria suggest that the Monetary Policy Rate (MPR) and Prime Lending Rate have a negative but insignificant impact on IVA. However, the Maximum Lending Rate (MLR) shows a positive and significant effect on IVA. The study also showed a statistical negative effect of inflation rate on industrial value added indicating that one unit increase in inflation rate leads to a decrease in industrial value added. In conclusion, the study posits that interest rate have significant effect on industrial productivity in Nigeria. Based on the findings, the study recommended that the policy maker in respect to Central Bank of Nigeria (CBN) should consider adjusting the Maximum Lending Rate (MLR) to stimulate industrial productivity and continue to implement measures to control inflation and ensure a stable macroeconomic environment conducive to industrial growth. Keywords: Industrial value added, Maximum lending rate , Monetary policy rate, Prime lending rate.... more |
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| 3 | Title: Financial Inclusion And Income Growth In Nigeria Author: Nekabari Sordum & Ebele P. Ifionu Abstract: This paper investigates whether per capita income has a long-run co-integrating relationship with financial inclusion indicators such as market capitalization per head, number of insurance policies per head, number of pension accounts per head, number of microfinance bank accounts per head, and number of deposit money bank accounts per head in Nigeria. Inclusion-Growth models based on multivariate regression, causality, and nonlinear Autoregressive Distributed Lag formulations were estimated and evaluated using long run bond and multiplier tests using Nigerian yearly time series data from 1981 to 2022. The bond test findings show that there is a co-integrating link between market capitalization per head, insurance policies per head, micro finance bank account per head, pension account per head, deposit money bank account per head, and per capita income. The long-run multiplier effect findings demonstrate that deposit money bank accounts and pension accounts per head have substantial positive long-run multiplier effects on per capital income, but insurance policies per head have a big negative influence on per capital income. The number of microfinance bank accounts per person has a positive but weak effect on per capital income, while market capitalization per head has a negative and weak influence on per capital income. These findings imply that increasing the number of Deposit Money Bank accounts per person, Pension accounts per person, and Micro Finance Bank accounts per person might improve access to financial services, hence increasing per capita income. According to the report, positive and negative changes in financial inclusion indices have long-run multiplier impacts on per capita income in Nigeria. We urge that all obligatory insurance be successfully enforced, and that Nigerian insurance firms expand into the maritime, aviation, and oil and gas insurance sub-sectors. Keywords: Financial Inclusion, income Growth, Market Capitalization, Insurance Policies, Pension, Micro Finance Bank.... more |
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| 4 | Title: Research Implications Of Data And Theory Triangulation In Operations Research Investigations Author: Ndu, Eugene Chigozie & Eketu, Continue Anddison (PhD) Abstract: This paper sought to establish and validate the research implications of data and theory triangulation in operations research (OR) investigations. Two research questions and hypotheses guided the study. Using the descriptive survey design, with triangulated methodologies (Data and Theory) and a sample of 32 OR lecturers, the study found that: both data and theory triangulations have significant and far-reaching research implications in OR investigations. Based on these, it was concluded that data and theory triangulations are effective tools for OR investigations; and that no research effort in OR is complete without a measure of data and theory triangulation. Although the study may have been limited by the relative small sample size used, it highlighted some implications. These include among other things that, there is need for a ‘paradigm shift’ from the ‘hard core’ quantitative lining of most OR investigators to a triangulated paradigm. Hence the study recommended that OR investigators should endeavour to apply data and theory triangulation in their research efforts; they should view and practice triangulation (Data and Theory) as a modern global approach to research; data and theory triangulation techniques should first be studied and understood before applying them so as to avoid the possible drawbacks of their wrong application. Keywords: Cognitive Process, Fallibilism, Paradigm Shift, Research Methodology, Triangulation of Methodologies.... more |
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| 5 | Title: Corporate Transparency And Financial Markets Performance In Nigeria Author: Dr. Oshadare Segun Anthony; Prof. Kajola Sunday; Oshadare Uzochukwu Juliet; Dr. Abode Josephine; Oworu Femi Olympus & Babatolu, Ayorinde Abstract: This study aimed to examine the relationship between transparency and financial Market performance Nigeria. This study is based on a companies listed on Nigeria stock exchange (NGX). Information related to research variables is for 1981-2022 (41-year period). To investigate the association between variables of this research, the transparency (Board Composition) is used as the dependent variable while financial information like Credit to private sector (CPS), Money market Values to GDP, Transaction Total in capital Market and all share Index as independent variables are considered. The Ordinary Least Square (OLS) regression test was employed in this study to assess the models estimation and research data in order to ascertain their degree of transparency and explore potential relationships between the studys variables. Based on the research findings, there is a considerable positive correlation between the financial market performance criteria of CPS and MS and transparency, as measured by the transparency indices provided in Standard & Poors model. However, transparency and TT with ASI have negative connections, which means that transparency has a detrimental effect on dependent variables.This study will provide literature evidences as record about transparency indexes and financial market performance in Nigeria. The result leads to a lot of recommendations on the need to ensure transparency which is the pillar for getting good performance in the Nigeria Financial market. Keywords: Transparency, Financial Performance, Credit to private sector, Money market Values, all shares Index.... more |
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| 6 | Title: The Effect Of Industrial Energy Consumption On Industrial Productivity In Nigeria Author: Egu Lizzy Chiamaka & Dr. Akintola, Francis Abolade Abstract: Nigeria, as one of the largest economies in Africa, has been hampered by a chronic and severe energy deficit. The inadequate and unreliable energy supply has had far-reaching and detrimental effects on the countrys industrial productivity, and overall economic growth. Frequent power outages force manufacturing companies to rely on costly diesel generators, increasing operational costs and reducing competitiveness. This can lead to decreased production capacity, job losses, and higher prices for goods. This study investigates the relationship between energy consumption and industrial productivity in Nigeria. The study adopted an ex-post facto research design while both Error correction model and fully modified ordinary least square was the estimation techniques. The descriptive statistics highlighted the central tendency, dispersion, skewness, and kurtosis of the variables, providing a nuanced understanding of their distribution. The Augmented Dickey-Fuller test and cointegration test shed light on the stationarity and long-run dynamics of the variables. The error correction modelling and short run effect further explored the interplay between the variables. The inferences were made at 5% significant model. Findings from the effects of industrial energy consumption on industrial productivity in Nigeria reveals that electricity consumption (0.002144, P 0.05) show a positive but insignificant effect on industrial productivity, Renewable energy utilization (-0.02543, P... more |
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| 7 | Title: Institutional Bank Credits And Economic Development In Nigeria Author: Blessing Inim-Me Nwoke & Ebele P. Ifionu Abstract: The studys goal was to look into the relationship between institutional bank credits and economic development in Nigeria between 1992 and 2022. Specifically, the study considers how Bank of Industry, Commercial Bank, Microfinance Bank, Bank of agriculture, Primary Mortgage Institutions, African Development Bank, and World Bank creditsaffect Human development index. The data used in the study were sourced from the Central Bank of Nigeria and the World Bank statistical bulletin of various issues. The descriptive, unit root, ARDL framework, and causality techniques were used at the 5% significant level. The unit root result indicates that the variables were stationary at first difference and at level (i.e., mixed stationarity), necessitating the ARDL F-Bound test, which validates the presence of long-run form among the variables. According to the study, Bank of Agriculture, African Development Bank, and World Bank credits were positive but insignificant to the human development index in the long run, whereas Bank of Industry, Primary Mortgage Institutions, Commercial Bank, and Microfinance Bank credits were positive and significant to the human development index. According to the study, the institutional bank credits that considerably improve Nigerias standard of life are those from the Bank of Industry, Primary Mortgage Institutions, Commercial Banks, and Microfinance Banks. According to the studys recommendations, the Bank of Agriculture, African Development Bank, and World Bank should re-examine their operations by confirming project viability to avoid executing projects and mobilising cash for unrealistic industrial ventures. In the industrial sector, this would reduce the amount of abandoned projects and unrealistic endeavours. Keywords: Loans, Organizations, Economic Growth, Financial Institutions, Manufacturing Sector... more |
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| 8 | Title: Financial Information Disclosures And Accruals Quality: Empirical Evidence From Deposit Money Banks In Nigeria Author: Aguguom, Theophilus Anaekenwa Abstract: Purpose – This present study examined the effect of financial information disclosures on accruals quality of deposit money banks in Nigeria for the period 2010 to 2023. Design/methodology/approach – The study explored ex-post facto research design, using panel data using eleven (11) deposit money banks over the period 2010-2023, using data from the banks financial statements audited by the banks external auditors to certify its validity and reliability. The study employed descriptive and inferential (multiple regression) in analyzing the data. Findings – It showed that accruals quality performance among the deposit money banks quoted in Nigerian was significantly affected by financial information disclosures. Results further showed that positive effect of financial information disclosures on accruals quality. Practical implications- These findings indicate that management of deposit money banks should treasure accruals quality an act of managerial competence and optimal deployment of shareholders and depositors’ money rather than discretionary earnings. Originality/value – This investigation provides original empirical evidence on the effect of financial information disclosures on accruals quality in the context of the importance of financial journalism disclosure as an informed investment decisions guide is imperatively desirous by concerned stakeholders. Keywords: Accruals quality, Comparative information, Consistency of presentation, financial information disclosures, Frequency of reporting, Stakeholders.... more |
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| 9 | Title: Effect Of Group Cohesion On Employee Job Satisfaction Of Selected Deposit Money Banks In Abia State Author: Okebaram S.M. Phd & Osuala, Kenneth Isioma Abstract: The study investigated the effect of group cohesion on employee job satisfaction of selected Deposit Money Banks in Abia State. The specific objective of the study is to ascertain the relationship between group cohesion on employee job satisfaction of selected deposit money banks in Abia State. The study adopted survey design. The target population of this study was four hundred and fifteen (415) from First bank Nigeria Plc, Access bank Nigeria Plc and Zenith bank Plc. The Slovins formula was used to generate the sample size of 204. A simple random sampling technique was adopted. The instruments that was use in this study to gather data is questionnaire. The questionnaire was structure in scale of 5 point Likert such as SA; strongly agree (5), A; agree (4), UN; undecided (3) D; disagree (2) and SD; strongly disagree (1). Regression model was employed to test the hypothesis of the study. Two hundred and four (204) copies of questionnaire were distributed first bank plc, access bank plc and zenith bank plc in Umuahia, Aba and Ohafia in Abia State, eight (8) copies of questionnaire were not retrieved but one hundred and ninety-six (196) copies of questionnaire were filled and retrieved, with 96.0% which formed basis for the data analysis. The findings of the study showed that there is a positive relationship between group cohesion on employee job satisfaction of selected deposit money banks in Abia State. The study concluded that teamwork has a significant effect on organizational effectiveness of selected Deposit Money Banks in Abia State. The study recommended that organization under the study should put in place every necessary mechanism to boost cohesion this will help to strengthen trust, build team work, create professionalism and above all improve productivity of the organization. Keywords: Group Cohesion, Employee Job Satisfaction, Employee Job Satisfaction and Banks... more |
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| 10 | Title: Social Media Adoption Effectiveness And Accounting Performance Empirical Evidence From Nigeria Author: Okonewa Onyinyechukwu, Uzodimma Amara Celestina & Uka Vivian Onyedika Abstract: This study investigates social media adoption effectiveness on accounting performance of listed manufacturing firms in Nigeria. Social media enables communication with stakeholders in terms of financial and non-financial achievements through direct, timely and low-cost techniques. Thus, the study draws attention to this relatively new phenomenon that enhances value of corporate entities. The sample consists of thirty-six (36) manufacturing corporations listed on the Nigerian Exchange Group over a ten (10) year period (2014 to 2023) and utilized two (2) key measures of social media adoption: presence of a social media account and breadth of social media engagement. Based on ex-post facto research design, Ordinary Least Square Regression analysis technique was employed to test the study hypotheses and found that both variables of interest have statistically significant effect on accounting performance. However, in line with the results that were obtained, this study recommends among others that corporate managers within the manufacturing sector of the Nigerian economy should do more than just making a presence on social media but such engagement should be deeper by way of employing more social media handles in the dissemination of information and activities since this have been empirically proven to enhance firm performance. Keywords: Social Media Adoption, Accounting Performance, Breadth of Social Media Engagement, Social Media Presence... more |