Corporate Governance Mechanisms and Dividend Policy: Evidence from Quoted Deposit Money Banks in Nigeria

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dc.contributor.authorOLANREWAJU, Joy Olarike
dc.contributor.authorABDULKADIR, Rihanat Idowu
dc.contributor.authorSALAM, Mudathir Olanrewaju
dc.date.accessioned2021-05-27T12:36:46Z
dc.date.available2021-05-27T12:36:46Z
dc.date.issued2018-12
dc.description.abstractDecline in dividend payments and weak corporate governance in Nigerian deposit money banks spur the need for this study. Therefore, the study investigates how corporate governance mechanisms such as executive compensation, debt financing, block ownership and directors’ ownership influence the dividend policy of these banks between 2006- 2016. The secondary data used for this study was extracted from the annual reports of the banks and different editions of the NSE fact book. Two-Step System Generalized Method of Moments (GMM) estimator was employed for analyses. Findings revealed that executive compensation, lagged dividend and size significantly affect dividend payment of deposit money banks while other mechanisms like debt financing, block ownership and directors’ ownership were insignificant in explaining dividend payment in Nigeria banks. The study concludes that executive compensation affects firm’s ability to reward shareholders in form of dividend payment in Nigerian deposit money banks. Thus, this study recommends that regulatory bodies like CBN, NDIC should ensure that the compensation paid to the bank executives is regularised so that the interest of investors will not be undermined. In addition, the compensation of the bank executives should be performance based, this will improve their performance and promote higher dividend payment to investors.en_US
dc.identifier.issn2408-6959
dc.identifier.urihttps://uilspace.unilorin.edu.ng/handle/20.500.12484/5498
dc.language.isoenen_US
dc.publisherDepartment of Accounting & Finance and Business Administration, Fountain University, Osogboen_US
dc.subjectCorporate Governanceen_US
dc.subjectDividend Policyen_US
dc.subjectDeposit Money Banks (DMBs)en_US
dc.titleCorporate Governance Mechanisms and Dividend Policy: Evidence from Quoted Deposit Money Banks in Nigeriaen_US
dc.typeArticleen_US

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