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Impact of gender dichotomy on dividend payout policy in listed Nigerian financial services firm

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Listed:
  • Damilola Felix Eluyela
  • Olajide Dahunsi
  • Olawumi Ajoke Tolase
  • Wisdom Okere
  • Mautin Ogabi
  • Abiola Kafidipe

Abstract

This paper examines the impact of gender dichotomy on dividend payout policy in listed Nigerian financial services firm. A random-panel data methodological approach underpins this study. The study observed an overall panel data of 248 firm-year observations drawn from the sample of 31 financial service firms listed in Nigeria stock exchange between 2010–2017. The findings from the random-panel data regression adopted for the study shows that the presence of female directorship does not significantly influence dividend payout in Nigeria. The rate of dividend payout is highly determined by firm age and their performance. However, we recommend a more diverse board structure, considering the significant effect board size has on dividend payout policy. A more robust and diverse board will create an atmosphere of discipline and control in the organization.

Suggested Citation

  • Damilola Felix Eluyela & Olajide Dahunsi & Olawumi Ajoke Tolase & Wisdom Okere & Mautin Ogabi & Abiola Kafidipe, 2019. "Impact of gender dichotomy on dividend payout policy in listed Nigerian financial services firm," Cogent Business & Management, Taylor & Francis Journals, vol. 6(1), pages 1687270-168, January.
    • Handle: RePEc:taf:oabmxx:v:6:y:2019:i:1:p:1687270
    DOI: 10.1080/23311975.2019.1687270
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    Cited by:

    1. García-Meca, Emma & López-Iturriaga, Félix J. & Santana-Martín, Domingo Javier, 2022. "Board gender diversity and dividend payout: The critical mass and the family ties effect," International Review of Financial Analysis, Elsevier, vol. 79(C).
    2. Reda Louziri & Khadija Oubal, 2022. "Determinants of Dividend Policy: The Case of the Casablanca Stock Exchange," JRFM, MDPI, vol. 15(12), pages 1-19, November.
    3. Joseph U. Madugba & Kerry E. Howell & Tony Ikechukwu Nwanji & Sainey Faye & Ben-Caleb Egbide & Damilola Felix Eluyela, 2021. "Audit Committee Quality and Financial Reporting in Deposit Money Banks in Nigeria," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 11(2), pages 104-117, February.

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