EFFECT OF COOPORATE GOVERNANCE MECHANISMS ON TAX PLANNING OF LISTED DEPOSIT MONEY BANKS IN NIGERIA
Abstract
This study investigated the effeet of corporate govermanee mechanisms on tax planning of listed
Deposit Money Banks in Nigeria. The study sampled ten (10) listed Deposit Money Banks at
the Nigerian Exchange Group. The duration for this study was from 20013-2023 (eleven years)
Multiple regression analysis was conducted to evaluate the linear relationship between the
dependent (Effective tax rate) and the independent variables (Board Size, Board independence
and Board gender diversity and Audit Committce financial expertise Ellective. The
significance of the association and relationships was tested at 5% significance level using pvalues. Findings showed that: Board size and board independence have insignificant positive
effect on tax planning oflisted Deposit Money Banks in Nigeria. Board gender diversity and
Audit committee financial expertise have significam negative effect on tax planning of hsted
Deposit Moncy Banks in Nigeria. It is recommended thatalthongh board size showed a positive
but insignificant effect on tax planning, banks should not focus solely on inereasing the number
of board members, instead, emphasis should he placed on the quality, expertise, and relevance
of board members to ensure more strategic decision-making, particularly in areas related to
financial management and regulatory compliance.
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