Revisiting the factors influencing corporate dividend policy decisions: evidence from listed banks in Ghana / Ibrahim Nandom Yakubu
Dividend policy determinants have been explored for decades, yet a consensus on the factors that determine dividend policies among firms has not been so far established as findings differ depending on the industry and sector. This paper aims to contribute to the existing literature by examining the...
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| Format: | Article |
| Language: | English |
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Accounting Research Institute (ARI), Universiti Teknologi MARA (UiTM)
2019
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| Online Access: | https://ir.uitm.edu.my/id/eprint/30987/ |
| _version_ | 1848807638993731584 |
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| author | Yakubu, Ibrahim Nandom |
| author_facet | Yakubu, Ibrahim Nandom |
| author_sort | Yakubu, Ibrahim Nandom |
| building | UiTM Institutional Repository |
| collection | Online Access |
| description | Dividend policy determinants have been explored for decades, yet a consensus on the factors that determine dividend policies among firms has not been so far established as findings differ depending on the industry and sector. This paper aims to contribute to the existing literature by examining the factors influencing dividend policy of listed banks in Ghana relying on bank-level data spanning 2006 – 2015. Using the pooled ordinary least squares, fixed and random effects as estimation techniques, the findings show that dividend policy of banks is significantly driven by bank growth, profitability, bank size, and leverage. Capital adequacy ratio and domestic macroeconomic instability proxied by inflation were found to be insignificant. The findings lend strong support for the agency cost theory and the pecking order hypothesis of dividend policy. |
| first_indexed | 2025-11-14T22:46:01Z |
| format | Article |
| id | uitm-30987 |
| institution | Universiti Teknologi MARA |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T22:46:01Z |
| publishDate | 2019 |
| publisher | Accounting Research Institute (ARI), Universiti Teknologi MARA (UiTM) |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | uitm-309872022-06-15T03:06:10Z https://ir.uitm.edu.my/id/eprint/30987/ Revisiting the factors influencing corporate dividend policy decisions: evidence from listed banks in Ghana / Ibrahim Nandom Yakubu mar Yakubu, Ibrahim Nandom Corporate organization. Corporate governance International business enterprises. Multinational corporations Management. Industrial Management Dividend policy determinants have been explored for decades, yet a consensus on the factors that determine dividend policies among firms has not been so far established as findings differ depending on the industry and sector. This paper aims to contribute to the existing literature by examining the factors influencing dividend policy of listed banks in Ghana relying on bank-level data spanning 2006 – 2015. Using the pooled ordinary least squares, fixed and random effects as estimation techniques, the findings show that dividend policy of banks is significantly driven by bank growth, profitability, bank size, and leverage. Capital adequacy ratio and domestic macroeconomic instability proxied by inflation were found to be insignificant. The findings lend strong support for the agency cost theory and the pecking order hypothesis of dividend policy. Accounting Research Institute (ARI), Universiti Teknologi MARA (UiTM) 2019-12 Article PeerReviewed text en https://ir.uitm.edu.my/id/eprint/30987/1/30987.pdf Yakubu, Ibrahim Nandom (2019) Revisiting the factors influencing corporate dividend policy decisions: evidence from listed banks in Ghana / Ibrahim Nandom Yakubu. (2019) Management & Accounting Review (MAR) <https://ir.uitm.edu.my/view/publication/Management_=26_Accounting_Review_=28MAR=29.html>, 18 (3): 2. pp. 31-50. ISSN 2550-1895 https://mar.uitm.edu.my/ |
| spellingShingle | Corporate organization. Corporate governance International business enterprises. Multinational corporations Management. Industrial Management Yakubu, Ibrahim Nandom Revisiting the factors influencing corporate dividend policy decisions: evidence from listed banks in Ghana / Ibrahim Nandom Yakubu |
| title | Revisiting the factors influencing corporate dividend policy decisions: evidence from listed banks in Ghana / Ibrahim Nandom Yakubu |
| title_full | Revisiting the factors influencing corporate dividend policy decisions: evidence from listed banks in Ghana / Ibrahim Nandom Yakubu |
| title_fullStr | Revisiting the factors influencing corporate dividend policy decisions: evidence from listed banks in Ghana / Ibrahim Nandom Yakubu |
| title_full_unstemmed | Revisiting the factors influencing corporate dividend policy decisions: evidence from listed banks in Ghana / Ibrahim Nandom Yakubu |
| title_short | Revisiting the factors influencing corporate dividend policy decisions: evidence from listed banks in Ghana / Ibrahim Nandom Yakubu |
| title_sort | revisiting the factors influencing corporate dividend policy decisions: evidence from listed banks in ghana / ibrahim nandom yakubu |
| topic | Corporate organization. Corporate governance International business enterprises. Multinational corporations Management. Industrial Management |
| url | https://ir.uitm.edu.my/id/eprint/30987/ https://ir.uitm.edu.my/id/eprint/30987/ |