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Determinants of Dividend Payout of Financial Firms and Non-Financial Firms in Ghana

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  • Eliasu Nuhu
  • Abubakar Musah
  • Damankah Basil Senyo

Abstract

This paper examines the consistence of the determinants of dividend payout in financial and non- financial firms in Ghana. The sample for the study was drawn from listed firms on the Ghana stock exchange from 2000 to 2009.The study used ordinary least squares panel regression model to estimate the determinants of dividend payout. The results revealed that, out of the factors shown to have effect on dividend payout (i.e. profitability, board size, leverage and taxes) only board size exhibited consistence for both financial and non-financial firms in Ghana.

Suggested Citation

  • Eliasu Nuhu & Abubakar Musah & Damankah Basil Senyo, 2014. "Determinants of Dividend Payout of Financial Firms and Non-Financial Firms in Ghana," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 4(3), pages 109-118, July.
    • Handle: RePEc:hur:ijaraf:v:4:y:2014:i:3:p:109-118
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    References listed on IDEAS

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    Cited by:

    1. Md. Ariful Hoque, 2018. "Impulse of Dividend Payment Decision: Evidence from Pharmaceutical Industry in Bangladesh," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 9(1), pages 219-225, January.
    2. Haroon Hussain & Rohani Md-Rus & Hamdan Amer Ali Al-Jaifi, 2017. "Board Size and Dividend Policy: A Review," International Journal of Business and Administrative Studies, Professor Dr. Bahaudin G. Mujtaba, vol. 3(5), pages 197-201.
    3. A. Olayiwola, John & M. Ajide, Folorunsho, 2019. "Do Oil Price and Institutional Quality Matter for Dividend Policy in Nigeria?," Working Papers 12, Department of Economics, University of Ilorin.

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