Relationship between Board Size and Tax Compliance in Listed Consumer Goods Firms in Nigeria
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Date
2022
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Publisher
Nigerian Journal Of Management Sciences
Abstract
This research investigated the relationship between board size and tax compliance in listed
consumer good firms in Nigeria with 2016 to 2020 as the research period. The industry was
selected due to its importance to the Nigerian economy and for not violating any tax law and
regulations during the research period. Data were sourced from all the twenty-six firms in the
industry on total number of board members as a proxy for board size and effective tax rate as
proxy for tax compliance in line with existing literature. The data were analysed by descriptive
statistics and random effect model, confirmed by Hausman’s test. Finding showed that board size
has a positive significant effect on tax compliance. The finding negated some existing works
while it validated others. Other factors that affect tax compliance were identified. The study
therefore recommended that while firms should ensure quality representation in their boards,
government should on its own part, put on policies that will encourage tax compliance