Tax Aggressiveness and Firm Value: Evidence from Publicly Listed Industrial Goods Companies in Nigeria
Tax Aggressiveness and Firm Value: Evidence from Publicly Listed Industrial Goods Companies in Nigeria

Summary/Abstract: In this study, the relationship between tax aggressiveness and firm value among publicly listed industrial goods companies was examined. Ex-post facto research design was used and data obtained from the financial statements and accounts from 2006-2020. Data (non-debt tax shield, cash effective tax and revenue growth) obtained were analyzed using summary (mean, median, standard deviation, minimum and maximum values, Karl Pearson correlation) and inferential (variance inflation factor, ordinary least square, fixed and random effects, Hausman specification tests) statistical tools. Findings indicated that tax aggressiveness has positive and insignificant impact on firm value on publicly listed industrial goods companies. Given the findings of the study it was recommended that the relevant tax institutional framework and authorities of Nigerian firms must ensure that the corporate governance provisions and tax implementation be strictly followed to by the publicly listed industrial goods companies in Nigeria in order not to compromise the use of aggressive tax mechanisms.

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