Papers by Ebieri Jones, Ph.D
IIARD INTERNATIONAL JOURNAL OF BANKING AND FINANCE RESEARCH
The dynamics in banking business had made their function of financial intermediation susceptible ... more The dynamics in banking business had made their function of financial intermediation susceptible to inherent systemic risks and uncertainties as the role strictly require banks to ensure depositors’ funds are not endangered based on economic consequences it portends. The study therefore investigated risk assets quality and profitability of listed commercial banks in Nigeria and adopted ex post facto research design. It engaged non-probability sampling technique and purposively used 5 top banks licensed with international authorization. It collected relevant data from annual reports of these banks covering 2009 to 2018, a post banking sector consolidation era after the world financial crisis. Risk assets ratio and loan deposit ratio were derived and used as joint proxies for risk assets quality whereas log of profit after tax represented the dependent variable. It engaged panel data regression to evaluate the variables. It established that 64.4% of the total variation in profitabilit...
Journal of Emerging Trends in Economics and Management Sciences, 2015
The revenue profile of Nigeria consists of revenue from oil and gas, and non-oil revenue (taxatio... more The revenue profile of Nigeria consists of revenue from oil and gas, and non-oil revenue (taxation) with the oil sector accounting for over 70% of the total revenue. The main objective of this study therefore is to provide empirical evidence of the long and short run equilibrium relationships between total revenue and economic growth in Nigeria. The outcome of this study will not only assist government in making growth enhancement adjustments in fiscal policy but will be of benefit to the larger reading public. Time series data ranging from1986 to 2012 of total revenue and real gross domestic product was collected from the Central Bank of Nigeria and the National Bureau of Statistics. The ordinary least square of uni-variate regression method and the Error Correction Method were used to analyze the data. The findings were that total revenue has long and short run equilibrating relationship with economic growth in Nigeria. The adjusted R2 indicates that 63.6% of the total variation i...
The study is an empirical assessment of the impact of tax reforms on the economic growth of Niger... more The study is an empirical assessment of the impact of tax reforms on the economic growth of Nigeria. Time series data were extracted from the Central Bank of Nigeria statistical bulletin, Federal Inland Revenue Service and Federal Ministry of Finance from the period 1985-2011. The ordinary least squares based multiple regression was adopted to analyse the data. The study found that the adjusted R-square of 0.99 implies that 99% of the total variation in gross domestic product, that is economic growth, is as a result of variation in petroleum profit tax, company income tax, customs and excise duties, value added tax, personal income tax and education tax and tax reforms in Nigeria. Customs and excise duties, value added tax, personal income tax and education tax have no statistical significant impact on economic growth at 5% level of significance. However, Petroleum profit tax and company income tax each has positive significant impact on economic growth at 0.35% and 2.87% level of s...
International Journal of Economics and Finance, 2014
This study focuses on the effect of tax conformity on productivity of enterprises in Cross River ... more This study focuses on the effect of tax conformity on productivity of enterprises in Cross River State of Nigeria with. Stumpy tax conformity is a matter of severe concern in lots of Nigerian enterprises. The problem of this research study is tax non-conformity seen in terms of tax avoidance and tax evasion. The two activities are usually distinguished in terms of legality, with avoidance referring to legal measures to reduce tax liability and evasion to illegal measures. While some commentators see non-conformity only as an evasion problem, which does not seem to capture the full nature of the problem. An ex-post facto research design was adopted and data collected from both primary and secondary data. Data collected were analysed using regression analysis. The results revealed that there is a very low relationship between the independent variables Honesty, Guilt & Shame, Fairness and Complexity with the dependent variable productivity of enterprises. The study also revealed that H...
Research Journal of Finance and Accounting, 2017
This study investigated the effect of social responsibility costs on value of quoted firms in Nig... more This study investigated the effect of social responsibility costs on value of quoted firms in Nigeria. The study employed ex post facto research design and extracted data from annual reports of twenty (20) quoted firms purposively selected from three sectors in the Nigerian Stock Exchange from 2005 to 2015, a period of considerable liberalization of the Nigerian economy. Using the panel least squares regression in a data set of sixty seven (67) observations in a longitudinal framework, the result showed that social and environmental costs have significant effect on value of quoted firms in the identified sectors studied. The study established that each of the sectors’ social and environmental costs have significant effect on net assets book value and further provided evidence that the financial services sector was more socially friendly than the consumer goods and industrial goods sectors, while the consumer goods sector made more investments on social and environmental activities t...
The study investigated effect of Intellectual Capital Costs on Financial Performance of listed Co... more The study investigated effect of Intellectual Capital Costs on Financial Performance of listed Commercial Banks in Nigeria during the period 2007 to 2016. The choice of the period was predicated on establishing the relationship of the variables during the Sub-Sector’s post consolidation era in Nigeria. It employed ex post facto research design and extracted data from cross section of three banks from ten (10) years annual report. The data were purposively selected based on availability of data. The study adapted the Value Added Intellectual Capital Coefficient Model as proxy for Intellectual Capital Costs while Return on Equity was adopted as proxy for Financial Performance. Engaging the Ordinary Least Squares based balanced Panel data regression technique in a longitudinal data framework of thirty (30) observations, the results established how Intellectual Capital Costs affect Return on Equity of the selected Banks in line with a priori expectation. It provided evidence that 52.8% ...
This study focuses on the effect of tax conformity on productivity of enterprises in Cross River ... more This study focuses on the effect of tax conformity on productivity of enterprises in Cross River State of Nigeria with. Stumpy tax conformity is a matter of severe concern in lots of Nigerian enterprises. The problem of this research study is tax non-conformity seen in terms of tax avoidance and tax evasion. The two activities are usually distinguished in terms of legality, with avoidance referring to legal measures to reduce tax liability and evasion to illegal measures. While some commentators see non-conformity only as an evasion problem, which does not seem to capture the full nature of the problem. An ex-post facto research design was adopted and data collected from both primary and secondary data. Data collected were analysed using regression analysis. The results revealed that there is a very low relationship between the independent variables Honesty, Guilt & Shame, Fairness and Complexity with the dependent variable productivity of enterprises. The study also revealed that H...
Foreign Direct Investment is a requisite in the development of an economy particularly in emergin... more Foreign Direct Investment is a requisite in the development of an economy particularly in emerging markets such as Nigeria which relies mainly on the proceeds from crude oil sales in the international market. A critical factor that influences inflow of foreign direct investment into an economy is the prevailing tax policies in that country. This study therefore examined the effect of corporate taxes on foreign direct investment in Nigeria. Ex post facto research design was adopted as it extracted relevant data from Central Bank of Nigeria Statistical Bulletin and various annual reports of Federal Inland Revenue Service for the period 1985 to 2016, a period of significant deregulation of the economy. The study engaged cointegration regression and unrestricted vector autoregression analysis to estimate the relationship of the variables. The results established that petroleum profit tax and education tax individually has inverse relationship with foreign direct investment while there i...
The SIJ Transactions on Advances in Space Research & Earth Exploration
Journal of Accounting and Financial Management www.iiardpub.org, 2016
The study is an empirical assessment of the impact of tax reforms on the economic growth of Niger... more The study is an empirical assessment of the impact of tax reforms on the economic growth of Nigeria. Time series data were extracted from the Central Bank of Nigeria statistical bulletin, Federal Inland Revenue Service and Federal Ministry of Finance from the period 1985-2011. The ordinary least squares based multiple regression was adopted to analyse the data. The study found that the adjusted R-square of 0.99 implies that 99% of the total variation in gross domestic product, that is economic growth, is as a result of variation in petroleum profit tax, company income tax, customs and excise duties, value added tax, personal income tax and education tax and tax reforms in Nigeria. Customs and excise duties, value added tax, personal income tax and education tax have no statistical significant impact on economic growth at 5% level of significance. However, Petroleum profit tax and company income tax each has positive significant impact on economic growth at 0.35% and 2.87% level of significance respectively. The Durbin Watson statistic of 1.98 indicates that there is no presence of serial autocorrelation in the model. The probability of the F statistic, a test for the overall significance of the model is rightly specified at zero level of significance. We would therefore conclude that overall, tax reforms have significant impact on the economic growth in Nigeria. This confirms the existence of long-run equilibrating relationship between the variables, i.e. economic growth and all the independent variables in the model. The study therefore recommends that chartered tax practitioners should be allowed to play leading roles in any tax reform process to ensure a robust tax system. There should be harmony in the objectives of tax reforms with macroeconomic objectives. Government should always consider tax payers and other key stakeholders" interests in fiscal policy formulation and implementation in order to achieve improved tax compliance rate in the country. All government agencies and other stakeholders should ensure the full implementation of the National tax policy and the long awaited petroleum industry bill should be passed to law.
European Journal of Accounting, Finance and Investment, 2019
The study investigated effect of Intellectual Capital on Return on Assets of listed Commercial Ba... more The study investigated effect of Intellectual Capital on Return on Assets of listed Commercial Banks in Nigeria during the period 2007 to 2016. The choice of the period was predicated on establishing the relationship of the variables during the Sub-Sector's post consolidation era in Nigeria. It employed ex post facto research design and extracted data from cross section of three banks annual report using non-probability sampling technique. The banks purposively selected include 2 banks with international outlook and one medium size bank. The paper adapted the Value Added Intellectual Capital Coefficient theorem as proxy for Intellectual Capital while Return on Assets was adopted as the dependent variable. The study engaged Panel data regression technique in a longitudinal data framework of thirty (30) observations and the results established how Intellectual Capital components collectively affect Return on Assets of the Banks studied at 5% level of significance in line with a priori expectation. It provided evidence that the differential coefficient of each bank's Intellectual Capital differs but each bank's intellectual capital has significant effect on return on assets. The paper further revealed that the individual components of Intellectual Capital have insignificant relationship with Return on Assets. The study therefore recommends that banks should compensate their employees based on value addition, utilize facilities at full capacity and efficiently, and should ensure that training of staff be directed towards value addition.
Journal of Emerging Trend in Economics and Management Sciences, 2015
The revenue profile of Nigeria consists of revenue from oil and gas, and non-oil revenue (taxatio... more The revenue profile of Nigeria consists of revenue from oil and gas, and non-oil revenue (taxation) with the oil sector accounting for over 70% of the total revenue. The main objective of this study therefore is to provide empirical evidence of the long and short run equilibrium relationships between total revenue and economic growth in Nigeria. The outcome of this study will not only assist government in making growth enhancement adjustments in fiscal policy but will be of benefit to the larger reading public. Time series data ranging from 1986 to 2012 of total revenue and real gross domestic product was collected from the Central Bank of Nigeria and the National Bureau of Statistics. The ordinary least square of univariate regression method and the Error Correction Method were used to analyze the data. The findings were that total revenue has long and short run equilibrating relationship with economic growth in Nigeria. The adjusted R 2 indicates that 63.6% of the total variation in real gross domestic product is as a result of variation in total revenue. We therefore recommend that government should intensify efforts in generating tax revenue, establish a strong fiscal responsibility and transparency system in the country, adopt tax reforms that would encourage increase in investment, particularly attracting foreign direct investment, fight corruption, invest generated revenue in critical infrastructure so as to provide the enabling environment to foster stability and economic growth in the economy. __________________________________________________________________________________________ Keywords: total revenue, economic growth, oil and non-oil revenue, petroleum profit tax, error correction method.
Research Journal of Finance and Accounting www.iiste.org, 2017
This study investigated the effect of social responsibility costs on value of quoted firms in Nig... more This study investigated the effect of social responsibility costs on value of quoted firms in Nigeria. The study employed ex post facto research design and extracted data from annual reports of twenty (20) quoted firms purposively selected from three sectors in the Nigerian Stock Exchange from 2005 to 2015, a period of considerable liberalization of the Nigerian economy. Using the panel least squares regression in a data set of sixty seven (67) observations in a longitudinal framework, the result showed that social and environmental costs have significant effect on value of quoted firms in the identified sectors studied. The study established that each of the sectors' social and environmental costs have significant effect on net assets book value and further provided evidence that the financial services sector was more socially friendly than the consumer goods and industrial goods sectors, while the consumer goods sector made more investments on social and environmental activities than the industrial goods sector. The study therefore recommended that government and host communities should leverage on the possibilities of proactive dialogue to encourage firms to commit a significant portion of their net income on social responsibility activities. The Nigeria Stock Exchange should ensure that there is standard reporting format that would incorporate social and environmental costs and pertinent stock information in annual reports so as to provide first-hand information for investors and other stakeholders willing to analyze the social costs and market performance trend within a given period. Companies should endeavor to identify and invest in relevant social and environmental areas that would create an impact on the generality of the society.
EPRA International Journal of Economic and Business Review www.eprawisdom.com, 2018
This study investigated effect of value added tax on economic growth of Nigeria using time series... more This study investigated effect of value added tax on economic growth of Nigeria using time series data from 1994 to 2012. The study employed ex post facto and extracted variables such as value added tax and real gross domestic product from various Central Bank of Nigeria statistical bulletin. It used the Engle Granger General Error Correction Model (ECM) technique of data analysis to estimate the relationship of the variables and established that the adjusted R squared 86.7% is the total variation of real gross domestic product attributable to variation in value added tax. The results also established that value added tax has negative but significant relationship with gross domestic product both on short and long run equilibrium conditions. The F-Statistic coefficient of 56.591 which is consistent has probability value of 0.00% and therefore conclude that value added tax has significant effect on real gross domestic product of Nigeria. Consequently, the study recommends that government should embark on providing infrastructures that would yield investment opportunities for the private sector so as to influence economic growth, increase the value added tax rate for imported goods specifically luxury goods and alcohols and ensure that all accruable revenue from value added tax are remitted as at when due.
European Journal of Accounting, Finance and Investment www.cird.online/EJFAI/index.php/april.2019/, 2019
The study examined impact of indirect taxes on economic performance of Nigeria from 1994 to 2017.... more The study examined impact of indirect taxes on economic performance of Nigeria from 1994 to 2017. The specific objective was to determine impact of value added tax and custom and excise duties on real gross domestic product (RGDP) of Nigeria. Secondary data were used, extracted from central bank of Nigeria Statistical bulletin and National Bureau of Statistics. The study adopted ex post facto research design. The sourced data were analyzed using augmented Dickey-Fuller Test to test for stationarity of the data while ordinary least square based multiple regression technique was used to determine the relationship between the variables The findings revealed that value added tax has positive and insignificant impact on real gross domestic product of Nigeria while custom and excise duties has positive and significant impact on real gross domestic product of Nigeria within the study period. It was recommended that Federal Government should emphasize on the rule of law in curbing corruption inherent in our tax system. Besides there is urgent need to put in place measures to effectively and efficiently collect all forms of indirect tax revenue to enhance economic development and growth in the country.
Journal of Accounting Information and Innovation www.cird.online/JAII, 2019
Most listed firms had incorporated social responsibility as a business model to boost business su... more Most listed firms had incorporated social responsibility as a business model to boost business success and reputation but those activities are apparently cost incurred by the firms. This paper therefore empirically examined whether social costs affect market capitalization of firms listed on the Nigeria Stock Exchange. It adopted ex post facto research design and non probability sampling technique. The study extracted data from cross section of 20 listed firms for a period of 11 years each. The study recognized social costs as investments by firms on the society and utilized costs on education, health, socials, community and environment as joint proxies for social costs while market capitalization was used as the dependent variable.The work adopted unbalanced panel data technique of data estimation to determine the relationship of the variables. It was found that investments on community and environment has positive significant relationship with market capitalization while investments of health, education and socials individually has no statistical significance but are positively related with market captalization. The study established that the effect of social costs on market capitalization of the firms studied is significant at 5% level of significance and therefore recommends that listed firms should participate more on education, health, socials and recreational activities in a manner that would significantly affect value, companies should sensitize the society on their social responsibility activities and adequately provide such data on annual reports and management of listed firms should endeavor to identify those community and environmental issues that would impact more on the society to earn reputation.
Journal of Accounting Information and Innovation www.cird.online/JAII, 2019
Most listed firms had incorporated social responsibility as a business model to boost business su... more Most listed firms had incorporated social responsibility as a business model to boost business success and reputation but those activities are apparently cost incurred by the firms. This paper therefore empirically examined whether social costs affect market capitalization of firms listed on the Nigeria Stock Exchange. It adopted ex post facto research design and non probability sampling technique. The study extracted data from cross section of 20 listed firms for a period of 11 years each. The study recognized social costs as investments by firms on the society and utilized costs on education, health, socials, community and environment as joint proxies for social costs while market capitalization was used as the dependent variable.The work adopted unbalanced panel data technique of data estimation to determine the relationship of the variables. It was found that investments on community and environment has positive significant relationship with market capitalization while investments of health, education and socials individually has no statistical significance but are positively related with market captalization. The study established that the effect of social costs on market capitalization of the firms studied is significant at 5% level of significance and therefore recommends that listed firms should participate more on education, health, socials and recreational activities in a manner that would significantly affect value, companies should sensitize the society on their social responsibility activities and adequately provide such data on annual reports and management of listed firms should endeavor to identify those community and environmental issues that would impact more on the society to earn reputation.
The SIJ Transactions on Industrial, Financial & Business Management (IFBM), 2 (2), 39-47, 2017
This study investigated the effect of social responsibility costs on value of quoted firms in Nig... more This study investigated the effect of social responsibility costs on value of quoted firms in Nigeria. The study employed ex post facto research design and extracted data from annual reports of twenty (20) quoted firms purposively selected from three sectors in the Nigerian Stock Exchange from 2005 to 2015, a period of considerable liberalization of the Nigerian economy. Using the panel least squares regression in a data set of sixty seven (67) observations in a longitudinal framework, the result showed that social and environmental costs have significant effect on value of quoted firms in the identified sectors studied. The study established that each of the sectors' social and environmental costs have significant effect on net assets book value and further provided evidence that the financial services sector was more socially friendly than the consumer goods and industrial goods sectors, while the consumer goods sector made more investments on social and environmental activities than the industrial goods sector. The study therefore recommended that government and host communities should leverage on the possibilities of proactive dialogue to encourage firms to commit a significant portion of their net income on social responsibility activities. The Nigeria Stock Exchange should ensure that there is standard reporting format that would incorporate social and environmental costs and pertinent stock information in annual reports so as to provide first-hand information for investors and other stakeholders willing to analyze the social costs and market performance trend within a given period. Companies should endeavor to identify and invest in relevant social and environmental areas that would create an impact on the generality of the society.
International Journal accounting and Taxation Review 3(3), 58-68, 2019
Foreign Direct Investment is a requisite in the development of an economy particularly in emergin... more Foreign Direct Investment is a requisite in the development of an economy particularly in emerging markets such as Nigeria which relies mainly on the proceeds from crude oil sales in the international market. A critical factor that influences inflow of foreign direct investment into an economy is the prevailing tax policies in that country. This study therefore examined the effect of corporate taxes on foreign direct investment in Nigeria. Ex post facto research design was adopted as it extracted relevant data from Central Bank of Nigeria Statistical Bulletin and various annual reports of Federal Inland Revenue Service for the period 1985 to 2016, a period of significant deregulation of the economy. The study engaged cointegration regression and unrestricted vector autoregression analysis to estimate the relationship of the variables. The results established that petroleum profit tax and education tax individually has inverse relationship with foreign direct investment while there is direct relationship between company income tax and foreign direct investment in Nigeria. It concluded that jointly, corporate taxes have significant effect on foreign direct investment in Nigeria and recommends that the government should embark on comprehensive tax reform in order to increase the inflow of foreign direct investment.
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Papers by Ebieri Jones, Ph.D