O'Connor, Thomas G. (2012) Dividend payout and corporate governance in emerging markets: which governance provisions matter? Department of Economics Finance & Accounting Working Paper Series N230-12. Working Paper. National University of Ireland Maynooth. (Unpublished)

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Abstract

In this paper I examine the relationship between individual corporate governance provisions and corporate dividend payout. Using a sample of 220 firms from 21 emerging market countries, I show that dividend payout is an outcome of strong corporate governance. On closer inspection, I find that dividend payouts tend to be greater in firms which score highly in measures of board independence and accountability. I find some evidence which suggests that dividends substitute for a lack of transparency for emerging market firms.

Item Type:	Monograph (Working Paper)
Keywords:	Corporate governance; Outcome and substitution agency models of dividends; Dividend payout; Emerging markets; Working Paper N230-12;
Academic Unit:	Faculty of Social Sciences > Economics, Finance and Accounting
Item ID:	3807
Identification Number:	N230-12
Depositing User:	Ms Sandra Doherty
Date Deposited:	14 Aug 2012 14:36
Publisher:	National University of Ireland Maynooth
URI:
Use Licence:	This item is available under a Creative Commons Attribution Non Commercial Share Alike Licence (CC BY-NC-SA). Details of this licence are available here

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