Assessing the Role of Board Structure on the Nexus between Green Innovations, Green Taxation, and Cosmetic Accounting Practice in Nigeria
2024
Bala, Hussaini | S. Al Naim, Abdulaziz | Alhaji Sani, Armaya’u | Alomair, Abdulrahman
Nigeria is a foremost oil producer in Africa, and thus faces substantial environmental issues like pollution and climate change. Therefore, since green taxation and green innovation emphasize inventing new technologies, mitigating environmental damage, and stimulating sustainability, understanding and encouraging green taxation and green innovation might aid in reducing these environmental challenges and protect natural resources. This study therefore explored the influence of board structure on the link between green taxation, green innovation, and cosmetic accounting practices of firms. This study adopted auxiliary data from the World Bank, OECD, and Nigerian corporations’ annual reports. The analysis included 792 firm-year observations from 2014 to 2021. A logistic regression analysis was performed. This study documented that firms costume their income to avoid paying environmental taxes or to generate a more constructive image of their green practices. Similarly, it was found that green innovations attract firms to engage in cosmetic accounting practice in Nigeria. However, firms’ effective board mechanisms have been found to prevent the likelihood of cosmetic accounting practices. Finally, it was established that green taxes and green innovations could prevent firms from engaging in cosmetic accounting practices in companies with effective board mechanisms. This study is the first to explore the influence of governance structure on the nexus between green taxation and cosmetic accounting practices of firms. The findings of this study provide valuable information to regulatory authorities, policymakers, and companies seeking to promote sustainable growth and green protection.
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