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Chief Executive Officer’s attributes and tax avoidance: evidence from Nigeria

Author

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  • Ofuan James Ilaboya

    (University of Benin)

  • Edosa Joshua Aronmwan

    (University of Benin)

Abstract

This study sought to evaluate the association between the attributes of the Chief Executive Officer (CEO) and tax avoidance in Nigeria based on the framework of the upper echelon theory on managerial effects. The quantitative research design was employed in this study and data was gathered from the financial statements of sixty-six (66) non-financial firms listed on the NGX for 10 years (2009–2018). The model for the study was estimated using the generalised method of moments regression technique that helps address the issue of endogeneity. The results showed that the gender of the CEO, as well as the years spent, are significantly associated with tax avoidance within the Nigerian business environment. Consequently, the study concludes that the attributes of the CEO influence tax avoidance practices. This study contributes to the debate on the determinants of tax avoidance and reveals that the factors that influence tax avoidance are beyond firm-level attributes to include the physical attributes of management teams.

Suggested Citation

  • Ofuan James Ilaboya & Edosa Joshua Aronmwan, 2023. "Chief Executive Officer’s attributes and tax avoidance: evidence from Nigeria," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 20(1), pages 99-108, March.
    • Handle: RePEc:pal:ijodag:v:20:y:2023:i:1:d:10.1057_s41310-022-00168-y
    DOI: 10.1057/s41310-022-00168-y
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    More about this item

    Keywords

    CEO; Upper echelon theory; Tax avoidance; Non-financial firms; Generalised method of moments;
    All these keywords.

    JEL classification:

    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • M49 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Other

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