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Dividend payout and corporate governance in emerging markets: which governance provisions matter? Department of Economics Finance & Accounting Working Paper Series N230-12

O'Connor, Thomas (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 (Unpublished)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;
Subjects: Social Sciences > Economics, Finance & 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:

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