Damilola Felix Eluyela
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Foreign directors, indigenous directors and dividend payout structure in Nigerian deposit money banks
Damilola Felix Eluyela , Dorcas Titilayo Adetula , Olusegun Barnabas Obasaju , Emmanuel Ozordi , Olamide Akintimehin , Olabisi Popoola doi: http://dx.doi.org/10.21511/bbs.14(2).2019.16Banks and Bank Systems Volume 14, 2019 Issue #2 pp. 181-189
Views: 1025 Downloads: 125 TO CITE АНОТАЦІЯThis paper aims to examine the influence foreign and indigenous directors have on determining firms’ dividend payout structure. The population for this study is the fifteen deposit money banks listed on the Nigerian Stock Exchange. Using a random sampling technique, a sample of 14 deposit money banks for the 2010 to 2017 period was taken. The total observations used for the work was 112. The study adopted a panel data methodology, which was estimated with a random-effect model. It was observed that a significant relationship exists between foreign directors and the dependent variable (dividend payout structure). The dividend payout structure by dividend per share of sampled firms was measured. This study will improve analysts and investors’ understanding of dividend policy by giving them insights in identifying the main determinants of dividend policy. For policy makers, this study reinforces the fact that good corporate governance is important to develop financial markets and improve the firm value.
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Tax revenue and agricultural performance: evidence from Nigeria
Olufemi Adebayo Oladipo , Francis Iyoha , Adeniran Fakile , Abiola John Asaleye , Damilola Felix Eluyela doi: http://dx.doi.org/10.21511/ppm.17(3).2019.27Problems and Perspectives in Management Volume 17, 2019 Issue #3 pp. 342-349
Views: 1159 Downloads: 277 TO CITE АНОТАЦІЯThe responsibility of the government of any economy cannot be overemphasized. Likewise, the resources generated and infrastructural development helps to boost the economic growth of any nation. There has been overdependency of Nigerian economy on the oil sector, the major source of revenue. However, this sector has experienced several challenges ranging from devaluation in naira and fall in prices of crude oil in the international market. This serves as a revelation for the Nigerian government to seek an additional source of income. To this end, the main aim of this paper is to examine the impact of total tax revenue on agricultural performance in Nigeria. The study uses Engel and Granger approach to cointegration to establish the long- and short-run behavior, it was found that a positive and significant relationship exists between revenue obtained in the agricultural sector, capital in agricultural sector proxy by loan and agricultural output, while employment and total tax generated are not significant in the short run. In the long run, employment, capital and total revenue are statistically significant with agricultural output, while tax is insignificant. The implication of the result showed that tax has not yielded desirable result in promoting the agricultural sector in Nigeria. To promote pro-poor growth, long-run employment and improve overall welfare, there is a need to incorporate benefit from tax into agricultural performance. The study recommends among others the need for a systemic approach, given a significant percentage of the total tax generated to boost the development of the agricultural sector.
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Corporate dynamism and cash holding decision in listed manufacturing firms in Nigeria
Emmanuel Ozordi , Dorcas Titilayo Adetula , Damilola Felix Eluyela , Adenike Aina , Mautin Arinola Ogabi doi: http://dx.doi.org/10.21511/ppm.17(4).2019.01Problems and Perspectives in Management Volume 17, 2019 Issue #4 pp. 1-12
Views: 1053 Downloads: 105 TO CITE АНОТАЦІЯCash holding decision is a very crucial decision that strongly affects the performance of an organization. Corporate dynamism as a corporate governance tool was explored in this study in order to establish its relationship with cash holding decision in listed manufacturing companies in Nigeria. Board skill, female leadership, foreign directors, board ownership and directors’ compensation were used as proxies for corporate dynamism. A panel regression model was adopted in this study to examine the implication of corporate dynamism on cash holding decisions spanning six years from 2012 to 2017. Random sampling technique was employed in order to arrive at thirty firms out of thirty-seven listed manufacturing firms, which comprised industrial and consumer goods sector. Board ownership and the existence of foreign expatriates were found to have a significant effect on cash holding decisions. It is concluded that directors with significant holdings tend to be more aggressive towards activities that enhance the performance of a firm, one of which is ensuring that optimal level of cash is held at a particular point in time in order to guide against liquidity problems, which may be caused by overtrading or even keeping excess idle cash, which is supposed to be invested in profitable ventures. Also, the fact that the existence of foreign expatriates will affect cash holding decisions, which may be justified by the fact foreign expatriates are displaying expertise because of diverse experience that they have been able to gain from different parts of the world.
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Gender diversity and sustainability responsiveness: evidence from Nigerian fixed money deposit banks
Emmanuel Ozordi , Damilola Felix Eluyela , Uwalomwa Uwuigbe , Olubukola Ranti Uwuigbe , Chukwu Emmanuel Nwaze doi: http://dx.doi.org/10.21511/ppm.18(1).2020.11Problems and Perspectives in Management Volume 18, 2020 Issue #1 pp. 119-129
Views: 1262 Downloads: 187 TO CITE АНОТАЦІЯThis paper aims to explore the impact of gender diversity on firms’ sustainability responsiveness in ensuring collective drive toward achieving sustainable development goals (agenda) for Nigeria. This study explored female engagement from three major platforms, namely women as directors, management team leaders, and female workforce. The data used to conduct this study were derived from the annual reports of the sampled banks spanning through the period of 2013–2016. However, while data for this study were analyzed using EViews statistical tool, the sustainability reporting data were ascertained using the content analysis method. The outcome of this study depicts that female directors, female workforce, and women in the management team all had an adverse and positive association with sustainability reporting. However, this association was all insignificant. This further buttresses that gender diversity was not the major driving force behind the sustainability reporting of the sampled banks in Nigeria. This is because the sector is highly regulated. Hence, the study recommends that notwithstanding the outcome, in attaining the sustainable development goals (SDGs), there is a need to have more female representation on the strategic position of authority.
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E-tax system effectiveness in reducing tax evasion in Nigeria
Adegbola Olubukola Otekunrin , Tony Ikechukwu Nwanji , Damilola Felix Eluyela , Henry Inegbedion , Temitope Eleda doi: http://dx.doi.org/10.21511/ppm.19(4).2021.15Problems and Perspectives in Management Volume 19, 2021 Issue #4 pp. 175-185
Views: 1398 Downloads: 694 TO CITE АНОТАЦІЯThis study examined how electronic tax system (E- tax system) reduces tax evasion in Nigeria. The survey sample was drawn from Federal Inland Revenue Service (FIRS) staff and small and medium-scale enterprise taxpayers registered in F.C.T., Abuja, Nigeria. Primary data was derived from a questionnaire administered to a population of 60 officials and employees of the FIRS and taxpayers at a small and medium-scale enterprise registered in F.C.T., Abuja, Nigeria. The secondary data used was extracted from the tax revenue collection report on the FIRS platform for 2000–2019 (20 years). The conclusive research design was used. General linear model and linear regression were used to analyze the data collected. The E-tax system was measured using actual tax revenues and the level of electronic tax services. In contrast, tax evasion was measured using tax compliance and mind-set of taxpayers towards E-tax system. Taxpayers’ attitudes towards E-tax system, actual tax revenue, tax compliance and the level of electronic tax services were used as mediating and control variables; thus, results established a significant relationship, and this relationship is an adverse one. The work shows that an effective electronic tax system will significantly reduce tax evasion. Therefore, the proper implementation of the electronic tax system helps mitigate the problem of tax evasion that causes economic and social detriments in the tax administration system.
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Do microfinance banks’ activities affect Nigeria’s economic development?
Adegbola Olubukola Otekunrin , Onyegiri Paul Kenechukwu , Damilola Felix Eluyela , Okoye Nonso John , Ayomide Ibrahim doi: http://dx.doi.org/10.21511/bbs.17(2).2022.01Microfinance banks were set up to provide financial services to poor people to reduce the rate of poverty and improve the quality of living in the country. As such, this study ascertained the effect of microfinance banks on the economic development of Nigeria. Secondary data were obtained from the CBN Bulletin and records of the National Population Commission from 1996 to 2019. The study used Vector Autoregressive (VAR) estimates to test the effect of the independent variables (microfinance banks’ total loans and advances, total investments, and total deposits) on the dependent variable (per capita income). Johansen Co-integration results showed a relationship between microfinance banks and Nigeria’s economic development in the long run. The VAR results show that the activities of microfinance banks have a positive but insignificant effect on Nigeria’s economic development in the short term. Microfinance banks have not done well in their intermediation function to positively and significantly affect economic development, especially reducing the poverty rate, unemployment rate, and improving living standards, among other macroeconomic development indices in the short run. The study recommends that microfinance banks will help to improve the standard of living in the country by granting more credits to rural dwellers through the creation of corporative societies, age grades, and unions that are predominant in rural areas.
Acknowledgment
We are grateful to all researchers who contributed to this paper.
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