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Dividend policy and corporate governance in emerging markets: the South African case

University of the Witwatersrand
Wits Business School
Master of Finance and Investment (MMFI) / Using panel data analysis, this paper empirically examined the relationship between corporate governance and dividend payout for a sample of 109 firms listed on the JSE securities exchange over the period 2009-2013. The results show that board composition is positively related to dividend payout while institutional ownership is negatively related to dividend payout. Our findings also show a positive association between firm growth and dividend payout.

Identiferoai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:wits/oai:wiredspace.wits.ac.za:10539/20937
Date25 August 2016
CreatorsPapo, Priscilla
Source SetsSouth African National ETD Portal
LanguageEnglish
Detected LanguageEnglish
TypeThesis
Formatapplication/pdf, application/pdf

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