Foreign directors, indigenous directors and dividend payout structure in Nigerian deposit money banks

Eluyela, Damilola Felix and Adetula, D. T. and OBASAJU, Barnabas Olusegun and Ozordi, Emmanuel and Akintimehin, Olamide Oluwabusola and Popool, Olabisi (2019) Foreign directors, indigenous directors and dividend payout structure in Nigerian deposit money banks. Banks and Bank Systems, 14 (2). pp. 181-189. ISSN 1816-7403 ISSN ONLINE 1991-7074

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Abstract

This paper aims to examine the influence foreign and indigenous directors have on determining firms’ dividend payout structure. The population for this study is the fifteen deposit money banks listed on the Nigerian Stock Exchange. Using a random sampling technique, a sample of 14 deposit money banks for the 2010 to 2017 period was taken. The total observations used for the work was 112. The study adopted a panel data methodology, which was estimated with a random-effect model. It was observed that a significant relationship exists between foreign directors and the dependent variable (dividend payout structure). The dividend payout structure by dividend per share of sampled firms was measured. This study will improve analysts and investors’ understanding of dividend policy by giving them insights in identifying the main determinants of dividend policy. For policy makers, this study reinforces the fact that good corporate governance is important to develop financial markets and improve the firm value.

Item Type:	Article
Uncontrolled Keywords:	corporate policy, corporate governance, dividend per share, foreign ownership, panel random effects
Subjects:	H Social Sciences > HF Commerce > HF5601 Accounting H Social Sciences > HG Finance
Divisions:	Faculty of Law, Arts and Social Sciences > School of Management Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User:	Mrs Patricia Nwokealisi
Date Deposited:	15 Nov 2021 10:11
Last Modified:	15 Nov 2021 10:11
URI:	http://eprints.covenantuniversity.edu.ng/id/eprint/15476

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