Browsing by Author "Yunus, B.A"
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Item Effect of value added tax and capital gains tax on economic growth in Nigeria: traditional versus buoyancy approach(Faculty of Management Sciences, Al-Hikma University, Ilorin., 2016) Olaniyi, T.A; Bello, N.F; Yunus, B.AItem Effect of value added tax and capital gains tax on economic growth in Nigeria: traditional versus buoyancy approach(Faculty of Management Sciences, Al-Hikma University, Ilorin., 2016) Olaniyi, T.A; Bello, N.F; Yunus, B.AThis paper evaluates the effect of Value Added Tax (VAT) and Capital Gains Tax (CGT) on economic growth in Nigeria using both the traditional method of raw data analysis and a more robust buoyancy method of measuring performance of tax systems. Secondary data used relating to main variables (VAT, CGT) and control variables Company Income Tax (CIT) and Petroleum Profit Tax (PPT) covering 1994-2014 were obtained from reports of Federal Inland Revenue Service (FIRS) and Central Bank of Nigeria (CBN) and these data were analyzed using Ordinary Least Square regression analysis with robust standard error. The result of the study at 5% significant level using traditional method reveals positive significant effect of PPT and CIT on Nigeria’s Economic growth (p-values = 0.0000, 0.0000) while VAT is also significant at 5% (p=0.0002). However, CGT was insignificant (p=0.220). Contrarily, the buoyancy approach reveals mixed and oscillating performance of VAT and CGT on an annual basis but such performance were satisfactory in 13 years out of the 20 years covered (tax buoyancy ≥ 1). The study concludes that the use of buoyancy approach in evaluating the performance of tax systems is preferred to the traditional method for policy direction and is recommended to be used in conjunction with the traditional approach. More so, VAT and CGT should be adequately exploited as alternative revenue sources to support the dwindling oil revenue to sustain economic growth vision of Nigerian government.Item Relationship between corporate governance and creative accounting practices of Nigerian banks(Department of Accounting, University of Ilorin., 2017) Olaniyi, T.A; Jimoh, T; Yunus, B.ACorporate collapse in the Nigerian banking sector and the associated crisis of confidence portends and agonizing danger for the growth of other sectors as these banks employ different creative accounting methods with a view to surmounting the intense competition, reduce cost and lessen the burden of global economic meltdown. Literature reveals that efforts geared towards performance enhancement/cost control are not unconnected with corporate governance breakdown; as such, this study evaluates the relationship between corporate governance CG (Internal control system/ ICS; audit committee experience/ ACE; board independence/ BDI; external auditors independence/ EXI) and creative accounting (CA) practices in Nigerian banks. Secondary data were obtained from audited financial reports of all the 15 quoted commercial banks on the Nigerian Stock Exchange (NSE) between 2008 to 2014 and were analyzed using panel regression technique while error Composite Model estimation technique (Hausman specification test) lends credence to the supremacy of Random Effect Model (REM) over Fixed Effect Model (FEM) for interpretation purpose. The study finds that ICS and ACE have negative/inverse relationship (Coeff= -0.3645 & -0.2956 respectively) with CA while BDI and EXI have positive relationship (Coeff= 0.5789 & 2.8976 respectively) with CA. The study concludes that CG has statistically significant relationship with CA: F-stat (9.0323) and prob (F-stat) 0.0000 at 5% significance level and recommends featuring of more non-executive directors with less substantial portion of shares than the executive ones while ICS and ACE should adequately addressed to enlist compliance with good CG practices and eradicate CA practices. This will enhance bank performance, reduce confidence crisis and improve Nigeria’s economic growth.