Effect of Tax Planning on Firm Value of Quoted Consumer Goods Manufacturing Firms in Nigeria
Umeh Valentine Chukwudi,
Okegbe Theophius Okonkwo,
Ezejiofor Raymond Asika
Issue:
Volume 6, Issue 1, February 2020
Pages:
1-10
Received:
4 December 2019
Accepted:
6 January 2020
Published:
21 January 2020
Abstract: This study determined the effect of tax planning on firm value in quoted consumer goods manufacturing firms in Nigeria. The specific objectives are to: Determine the effect of Effective Tax Rate (ETR) on firm value of Nigerian consumer goods manufacturing companies; Ascertain the effect of Book Tax Differences (BTDs) on the firm value of Nigerian consumer goods manufacturing companies. Ex-post facto research design was adopted for the study. A sample size 21 of firms was selected based on availability of the financial statement of the selected firms from the population of all the non-financial quoted on the Nigeria Stock Exchange. Data for the study will be obtained from annual published financial of the non-financial covering a period of ten years from 2009-2018. Ordinary lease square regression was used to test the three formulated hypotheses with the aid of E-View 9.0. This study found that Effective tax rate (ETR) to impact negatively on firm value, but this impact was statistically significant. However, the study found that, book tax difference (BTD); impact positively on firm value, but this impact was not statistically significant. The study therefore recommended among others that since the influence of effective tax rate is statistically significant and so, should be used as a determinant of firm value in Nigeria. Therefore on the basis of efficient use of tax rate to generate growth should be encouraged.
Abstract: This study determined the effect of tax planning on firm value in quoted consumer goods manufacturing firms in Nigeria. The specific objectives are to: Determine the effect of Effective Tax Rate (ETR) on firm value of Nigerian consumer goods manufacturing companies; Ascertain the effect of Book Tax Differences (BTDs) on the firm value of Nigerian c...
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Research on the Impact of Financial Structure Optimization on Zhanjiang's Economic Growth
Issue:
Volume 6, Issue 1, February 2020
Pages:
11-16
Received:
24 February 2020
Accepted:
9 March 2020
Published:
18 March 2020
Abstract: China is in the period of important strategic opportunities of the "new normal". The "new normal" has brought new development and opportunities to China, and its economic growth has become more stable and its growth momentum has been more diverse. However, at the same time, it also faces problems such as overcapacity, high debt, and gradual weakening of the "demographic dividend". Therefore, economic transformation and adjustment and improvement of the financial structure have become important issues for regional economic development. With Zhanjiang as a sub-central city, Zhanjiang has a huge development opportunity. However, Zhanjiang's financial penetration into the economy is not strong, compared with other cities, Zhanjiang's financial deepening level is relatively low. Therefore this study analyzes the causal relationship between Zhanjiang's bank-led financial structure and economic growth, and explores the key elements of economic growth. Optimize the financial structure and increase the balance and inclusiveness of development. Give full play to the role of market mechanisms to further release market vitality. Scientifically regulate and control risks to realize Zhanjiang's economic transformation and upgrading and sustainable economic development under the “new normal”. Empirical analysis shows that FIR and FI are Granger causality of GDP and have a negative impact. There is no Granger causality between DLR, ER and GDP, which has a positive impact.
Abstract: China is in the period of important strategic opportunities of the "new normal". The "new normal" has brought new development and opportunities to China, and its economic growth has become more stable and its growth momentum has been more diverse. However, at the same time, it also faces problems such as overcapacity, high debt, and gradual weakeni...
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