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Modelling the dividend policy of banks in Gulf Cooperation Council countries

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  • Jasim Al-Ajmi

Abstract

This article presents the results of an investigation on the determinants of banks' dividend decisions among banks listed on seven stock exchanges in the Gulf Cooperation Council countries. The results show that dividend decisions are determined by current earnings and lagged dividends and that only banks in Abu Dhabi resist curtailing/skipping dividend payments. The results are mixed as to the role of dividend decisions in reducing agency problems and as a signalling device, but the results offer strong support for the transaction cost hypothesis.

Suggested Citation

  • Jasim Al-Ajmi, 2010. "Modelling the dividend policy of banks in Gulf Cooperation Council countries," Applied Economics Letters, Taylor & Francis Journals, vol. 17(14), pages 1423-1428.
    • Handle: RePEc:taf:apeclt:v:17:y:2010:i:14:p:1423-1428
    DOI: 10.1080/13504850903018697
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    Cited by:

    1. Olarewaju Odunayo Magret & Migiro Stephen Oseko & Sibanda Mabutho, 2018. "Dividend Payout, Retention Policy and Financial Performance in Commercial Banks: Any Causal Relationship?," Studia Universitatis Babeș-Bolyai Oeconomica, Sciendo, vol. 63(1), pages 37-62, April.
    2. Fernau, Erik & Hirsch, Stefan, 2019. "What drives dividend smoothing? A meta regression analysis of the Lintner model," International Review of Financial Analysis, Elsevier, vol. 61(C), pages 255-273.
    3. Imran, Kashif & Usman, Muhammad & Nishat, Muhammad, 2013. "Banks dividend policy: Evidence from Pakistan," Economic Modelling, Elsevier, vol. 32(C), pages 88-90.

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