Dividend payout among Nigerian firms: Do female directors matters?

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Published: May 6, 2019
DOI: https://doi.org/10.21067/jem.v15i1.3041
Keywords:
Propensity to pay dividends; gender diversity; Nigeria

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Adamu Adamu Idris
Department of Accounting, Faculty of Management Sciences, Federal University Dutsin-Ma, Nigeria
Rokiah Ishak
Tunku Puteri Intan Safinaz, School of Accountancy, Universiti Utara Malaysia
Nor Laili Hassan
Tunku Puteri Intan Safinaz, School of Accountancy, Universiti Utara Malaysia

Abstract

This study explores how female director(s) affect the decision to pay dividend in the sub-Saharan Africa. The study specifically employs non-financial firms listed on the Nigerian Stock Exchange Market from 2009-2015 and logit regression as the technique for data analysis. The independent variable of interest in the study is female director. Consistent with the hypothesis, the study found strong association that firms with at least one female director on board are more likely to affect the payment of dividends. The findings subsist after the commencement of the 2011 CCG and when firms with negative earnings were excluded from the main sample. Furthermore, the results do not change when the model was re-estimated using an alternative measure of female director as well as using OLS regression.

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How to Cite
Idris, A. A., Ishak, R., & Hassan, N. L. (2019). Dividend payout among Nigerian firms: Do female directors matters?. Jurnal Ekonomi Modernisasi, 15(1), 1–16. https://doi.org/10.21067/jem.v15i1.3041
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Vol. 15 No. 1 (2019): Februari
Section
Articles

Authors who submit a manuscript understand that if the manuscript is accepted for publication, the copyright of the article shall be assigned to Jurnal Ekonomi Modernisasi (JEM).

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