Board Characteristics and Tax Avoidance in Listed Industrial Goods Companies in Nigeria

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Analysis shows weak link between board characteristics and tax avoidance in industrial goods companies, suggesting other factors at play.

Tax avoidance, measured by the effective tax rate, is low in sampled industrial firms, indicating minimal tax mitigation.
The analysis indicates no statistically significant relationship between board size, board independence, or CEO duality and tax avoidance practices.
Using descriptive statistics and fixed effects regression, the study examines data from ten firms over 14 years, highlighting governance complexities.
The overall significance of the regression model points to other unobserved factors influencing tax behavior, calling for further research.

Isaac et al. (2025) studied this question.

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