Empirical Assessment of Female Director Effect on Tax Aggressiveness of Listed Insurance Firms in Nigeria

Ph.D Sunday Oseiweh OGBEIDE and Ph.D Peter Ego Ayunku
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Ph.D Sunday Oseiweh OGBEIDE: Department of Accounting and Finance, Faculty of Social and Management Sciences, Elizade University, Ilara- Mokin, Ondo State, Nigeria
Ph.D Peter Ego Ayunku: Faculty of Management Sciences, Niger Delta University, Wilberforce Island, Yenagoa, Bayelsa State, Nigeria

International Journal of Research and Scientific Innovation, 2020, vol. 7, issue 1, 33-42

Abstract: This study empirically examined the effect of female director on tax aggressiveness of listed insurance firms in Nigeria. The main objective of this research was to empirically investigate the effect of female board members on tax aggressiveness, determine the composition and representation of female directors on the board of insurance companies, find out how tax aggressive are listed insurance firms and apply the BLAU (1977) index method to measure female director representation as a departure from conventional approaches specifically in the Nigerian context in the reference period, 2014 to 2018. The population of the study consists of all the quoted insurance firms as at 31st December, 2016. A sample of twenty eight (28) quoted insurance firms was selected and data were collected over the period. Inferential statistic consisting of the General Method of Moment was used for the data analysis. The results obtained reveal that board size is negative and exerts significant impact on tax aggressiveness in insurance firms in Nigeria. Female director is significant and positively related with tax aggressiveness of firms in the insurance sector in Nigeria. Board independence is significant and exerts a positive influence on tax aggressiveness of insurance firms in Nigeria. Firm size exerts negative and non- significant effect on tax aggressiveness of insurance companies in Nigeria. The study therefore recommends that the Federal government has to come up with a policy to respond to the marginalization of female on the insurance firm corporate board in Nigeria. The aim of this policy thrust should be targeted at reducing politics and biasness against women on the corporate boards of listed insurance firms.

Date: 2020
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