Original Research Article | OPEN ACCESS
Corporate Tax Planning, Board Compensation and Firm Value in Nigeria

Timothy Onechojon Usman1 , Izilin M Okaiwele2, Ndifreke Bassey Asuquo3,

For correspondence:-  Timothy Usman   Email: usmantim@gmail.com

Received: June 16, 2020        Accepted: September 5, 2020        Published: September 30, 2020

Citation: Usman TO, Okaiwele IM, Asuquo NB, Corporate Tax Planning, Board Compensation and Firm Value in Nigeria. Account Tax Rev 2020; 4(3):11-28 doi:

© 2020 The authors.
This is an Open Access article that uses a funding model which does not charge readers or their institutions for access and distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0) and the Budapest Open Access Initiative (http://www.budapestopenaccessinitiative.org/read), which permit unrestricted use, distribution, and reproduction in any medium, provided the original work is properly credited..


The study examines the relationship between corporate tax planning, board compensation and firm value and moderating capacity on any association between tax planning and firm value. Consequently, the study used a sample of 71 profitable non-financial and non-oil and gas firms publicly listed on the Nigerian Stock Exchange (NSE) for financial years covering 2008 to 2015. Using the Generalised Least Square (GLS) regression, the result shows that there is a positive relationship between tax planning, board compensations and firm value, while board compensations failed to moderate the relationship between tax planning and firm value. Further, as regards the control variables, firm size showed a positive and significant impact on the firm value, while there was a significant negative relationship between leverage and firm value.

Keywords: Board Compensations, Firm Value, Firm Size, Leverage, Tax Planning

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