Chief Executive Officer’s attributes and tax avoidance: evidence from Nigeria

Ofuan James Ilaboya () and Edosa Aronmwan
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Ofuan James Ilaboya: University of Benin

International Journal of Disclosure and Governance, 2023, vol. 20, issue 1, No 7, 99-108

Abstract: Abstract This study sought to evaluate the association between the attributes of the Chief Executive Officer (CEO) and tax avoidance in Nigeria based on the framework of the upper echelon theory on managerial effects. The quantitative research design was employed in this study and data was gathered from the financial statements of sixty-six (66) non-financial firms listed on the NGX for 10 years (2009–2018). The model for the study was estimated using the generalised method of moments regression technique that helps address the issue of endogeneity. The results showed that the gender of the CEO, as well as the years spent, are significantly associated with tax avoidance within the Nigerian business environment. Consequently, the study concludes that the attributes of the CEO influence tax avoidance practices. This study contributes to the debate on the determinants of tax avoidance and reveals that the factors that influence tax avoidance are beyond firm-level attributes to include the physical attributes of management teams.

Keywords: CEO; Upper echelon theory; Tax avoidance; Non-financial firms; Generalised method of moments (search for similar items in EconPapers)
JEL-codes: M14 M49 (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1057/s41310-022-00168-y

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