Ownership structure and dividend payouts of listed banks in Nigeria
No Thumbnail Available
Asian Research Journal of Business Management
Dividend payout is a major corporate decision and an inconclusive debate in financial parlance. Agency theory provides the basis for the articulation of the model which captures the effects of ownership structure on dividend payouts. Data on ownership structure (managerial shareholding, and other Nigerians’ shareholding) and dividend per share of 15 listed banks in Nigeria, from 1995-2012 were compiled from annual reports and statements of accounts of sampled firms; and various issues of the Nigerian Stock Exchange Factbook. Dynamic panel model and system generalised method of moments (SYSGMM) technique were employed for analysis. Empirical findings of the paper indicate that ownership structure influences dividend payouts in Nigeria positively.
Odeleye, A. T. (2015). Ownership structure and dividend payouts of listed banks in Nigeria. Asian Research Journal of Business Management, 3(1), 108-119.